Performance vs S&P 500

03
Tracked Q1 2025–Q1 2026 +10.2%
S&P 500 total return (same window) +19.3%
Excess return -9.1%

Annualized: +10.2% · S&P 500: +19.3%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 98.9% · Options excluded: 0.0%

Sector breakdown

04
Real Estate 2.1%
Financials 0.2%
Communication Services 0.2%
Technology 0.1%
Other/Unmapped 97.4%

Full portfolio 14 positions

05
Type Streak 8Q trend
SPY SPY $89,298,836 92.45% 137,311 $-11,344,602 Down ×4
RC Ready Capital Corporation Common Stock $2,023,385 2.09% 1,249,003 $-699,442
Unknown issuer (CUSIP: 06748C108) $1,191,845 1.23% 33,385 Up ×1
SVIX -1x Short VIX Futures ETF $637,376 0.66% 73,600 Up ×1
SVXY ProShares Short VIX Short Term Futures ETF $608,658 0.63% 38,475 $0 Up ×1
UVXY (filed as UVXYXXXX) ProShares Ultra VIX Short Term Futures ETF $589,944 0.61% 11,280 $-336,331 Down ×1
EWZ iShares, Inc. $460,680 0.48% 12,000 Up ×1
CMD CUSIP: 74347W205 $447,924 0.46% 9,780 $-495,197 Down ×1
SPXL Direxion Shares ETF Trust $369,780 0.38% 2,000 Up ×1
BITO ProShares Trust $301,000 0.31% 4,000 Up ×1
C Citigroup, Inc. Common Stock $226,820 0.23% 2,000 $-6,560
META Meta Platforms, Inc. - Class A Common Stock $171,639 0.18% 300 Up ×1
REK ProShares Short Real Estate $141,850 0.15% 2,500 Up ×1
ORCL Oracle Corporation Common Stock $117,688 0.12% 800 $-14,851 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 06748C108) $1,191,845 33,385 1.23%
SVIX $637,376 73,600 0.66%
EWZ $460,680 12,000 0.48%
SPXL $369,780 2,000 0.38%
BITO $301,000 4,000 0.31%
META $171,639 300 0.18%
REK $141,850 2,500 0.15%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SPY Trimmed -10K -$11.3M
RC Price move only +0 -$699K
CMD Trimmed -7K -$495K
UVXY (filed as UVXYXXXX) Trimmed -14K -$336K
ORCL Bought more +120 -$15K
C Price move only +0 -$7K
SVXY Bought more +13K +$0

Exited positions

11

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarterShares beforeValue beforePrice since exit
HYG March 31, 2026 24,000 $1,935,120
LQD March 31, 2026 6,000 $661,140
EEM March 31, 2026 6,000 $577,680
XLV Dec. 31, 2025 3,300 $459,261 7.4%
NEM Dec. 31, 2025 3,000 $252,930 15.7%
XLF Sept. 30, 2025 4,000 $209,480 -0.7%
GOOGL March 31, 2026 600 $187,800 19.5%
JNJ Dec. 31, 2025 1,000 $185,420 23.7%
RTX March 31, 2026 1,000 $183,400 -4.3%
GLD Sept. 30, 2025 500 $152,415
AMZN Sept. 30, 2025 600 $131,634 14.6%
NVDA Sept. 30, 2025 800 $126,392 25.4%
NKE March 31, 2026 1,500 $95,565 -35.9%
AVGO Sept. 30, 2025 300 $82,695 7.6%
C Sept. 30, 2025 800 $68,096 26.6%
IBKR Sept. 30, 2025 800 $44,328 28.3%