Performance vs S&P 500

03
Tracked Q4 2025–Q1 2026 -6.9%
S&P 500 total return (same window) -5.4%
Excess return -1.6%

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: 100.0% · Options excluded: 0.0%

Sector breakdown

04
Retail 49.2%
Consumer Discretionary 40.2%
Communication Services 7.2%
Real Estate 3.3%

Full portfolio 25 positions

05
Type Streak 8Q trend
ROST Ross Stores, Inc. - Common Stock $4,157,996 8.90% 19,194 $-15,565,533 Down ×1
MAR Marriott International - Class A Common Stock $4,155,424 8.90% 12,705 $-13,414,708 Down ×1
TGT Target Corporation Common Stock $3,793,439 8.12% 31,299 Up ×1
COST Costco Wholesale Corporation - Common Stock $3,683,802 7.89% 3,697 $3,415,614 Up ×1
BURL Burlington Stores, Inc. Common Stock $3,340,026 7.15% 10,265 $-26,896,792 Down ×1
YUM Yum! Brands, Inc. $3,199,778 6.85% 20,580 Up ×1
AMZN Amazon.com, Inc. - Common Stock $2,904,533 6.22% 13,946 $-41,871,546 Down ×1
NFLX Netflix, Inc. - Common Stock $2,253,756 4.83% 23,440 Up ×1
DASH DoorDash, Inc. - Common Stock $1,992,340 4.27% 13,269 $-1,902,210 Down ×1
BJ BJ's Wholesale Club Holdings, Inc. Common Stock $1,820,967 3.90% 18,502 Up ×1
EAT Brinker International, Inc. Common Stock $1,780,342 3.81% 12,470 Up ×1
RHP Ryman Hospitality Properties, Inc. (REIT) $1,563,792 3.35% 16,948 Up ×1
SBUX Starbucks Corporation - Common Stock $1,485,044 3.18% 16,576 $-12,852,803 Down ×1
BKNG Booking Holdings Inc. - Common Stock $1,364,144 2.92% 324 $-12,104,511 Down ×1
CAVA CAVA Group, Inc. Common Stock $1,332,989 2.85% 16,477 Up ×1
WYNN Wynn Resorts, Limited - Common Stock $1,286,639 2.76% 12,670 $-865,824 Down ×1
RCL Royal Caribbean Cruises Ltd. Common Stock $1,153,004 2.47% 4,190 Up ×1
AZO AutoZone, Inc. Common Stock $1,151,823 2.47% 341 $-9,107,465 Down ×1
SPOT Spotify Technology S.A. Ordinary Shares $1,102,685 2.36% 2,274 $-4,275,851 Down ×1
FIVE Five Below, Inc. - Common Stock $1,082,538 2.32% 4,738 $-7,640,414 Down ×1
BROS Dutch Bros Inc. Class A Common Stock $748,552 1.60% 14,776 $-1,731,409 Down ×1
KR Kroger Company (The) Common Stock $552,324 1.18% 7,633 Up ×1
LAD Lithia Motors, Inc. Common Stock $504,185 1.08% 2,019 $-10,726,575 Down ×1
CCL Carnival Corporation Common Stock $263,096 0.56% 10,166 $-3,780,950 Down ×1
AS Amer Sports, Inc. Ordinary Shares $23,472 0.05% 713 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
TGT $3,793,439 31,299 8.12%
YUM $3,199,778 20,580 6.85%
NFLX $2,253,756 23,440 4.83%
BJ $1,820,967 18,502 3.90%
EAT $1,780,342 12,470 3.81%
RHP $1,563,792 16,948 3.35%
CAVA $1,332,989 16,477 2.85%
RCL $1,153,004 4,190 2.47%
KR $552,324 7,633 1.18%
AS $23,472 713 0.05%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
ROST Trimmed -90K -$15.6M
MAR Trimmed -44K -$13.4M
SPOT Trimmed -7K -$4.3M
DASH Trimmed -4K -$1.9M
BROS Trimmed -26K -$1.7M
WYNN Trimmed -5K -$866K

9 positions hidden — reported move looks larger than the position itself (data completeness check)

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
DG March 31, 2026 254,039 $33,728,758 0.2%
HD March 31, 2026 76,644 $26,373,200 -14.0%
TPR March 31, 2026 100,000 $12,777,000 -16.3%
FLUT March 31, 2026 35,753 $7,688,325 -26.6%
WH March 31, 2026 81,327 $6,145,068 -11.6%
LULU March 31, 2026 19,101 $3,969,379 -38.3%
BBWI March 31, 2026 182,121 $3,656,990 -14.0%
QSR March 31, 2026 37,613 $2,566,335 -5.4%
H March 31, 2026 9,484 $1,520,475 10.5%
FND March 31, 2026 7,385 $449,673 -10.5%
CMG March 31, 2026 10,476 $387,612 1.1%