Performance vs S&P 500

03
Tracked Q1 2025–Q4 2025 +26.6%
S&P 500 total return (same window) +26.1%
Excess return +0.5%

Annualized: +36.7% · S&P 500: +36.0%

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: 96.6% · Options excluded: 0.0%

Sector breakdown

04
Technology 26.7%
Financials 20.3%
Communication Services 13.7%
Industrials 9.2%
Healthcare 7.4%
Retail 4.7%
Consumer Discretionary 2.6%
Utilities 2.4%
Energy 2.2%
Consumer Staples 1.9%
Consumer products 1.6%
Materials 0.7%
Real Estate 0.1%
Other/Unmapped 6.5%

Full portfolio 433 positions

05
Type Streak 8Q trend
AAPL Apple Inc. - Common Stock $25,241,574 9.94% 92,848 $1,399,066 Down ×2
MSFT Microsoft Corporation - Common Stock $22,267,152 8.77% 46,043 $-1,900,738 Down ×3
GOOGL Alphabet Inc. - Class A Common Stock $17,528,000 6.90% 56,000 $3,589,375 Down ×4
NVDA NVIDIA Corporation - Common Stock $12,724,708 5.01% 68,229 $-459,781 Down ×3
JPM JP Morgan Chase & Co. Common Stock $10,087,293 3.97% 31,306 $284,168 Up ×1
GOOG Alphabet Inc. - Class C Capital Stock $8,969,345 3.53% 28,583 $1,579,064 Down ×4
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $6,557,069 2.58% 13,045 $476,931 Up ×1
GS Goldman Sachs Group, Inc. (The) Common Stock $5,530,041 2.18% 6,291 $504,048 Down ×3
AMZN Amazon.com, Inc. - Common Stock $4,338,954 1.71% 18,798 $337,730 Up ×4
ETN Eaton Corporation, PLC Ordinary Shares $3,881,044 1.53% 12,185
HD Home Depot, Inc. (The) Common Stock $3,555,919 1.40% 10,334 $-610,233 Up ×1
CSCO Cisco Systems, Inc. - Common Stock $3,352,474 1.32% 43,522 $298,638 Down ×1
V Visa Inc. $3,313,157 1.30% 9,447 $98,382 Up ×1
PG Procter & Gamble Company (The) Common Stock $3,303,439 1.30% 23,051 $-308,258 Down ×1
MCD McDonald's Corporation Common Stock $3,294,361 1.30% 10,779 $-19,230 Down ×2
ABBV AbbVie Inc. Common Stock $2,969,188 1.17% 12,995 $-39,635
HON Honeywell International Inc. - Common Stock $2,966,129 1.17% 15,204 $-161,249 Up ×1
PEP PepsiCo, Inc. - Common Stock $2,878,847 1.13% 20,059 $80,881 Up ×1
RTX RTX Corporation Common Stock $2,848,337 1.12% 15,531 $195,197 Down ×3
BAC Bank of America Corporation Common Stock $2,822,753 1.11% 51,323 $164,641 Down ×2
META Meta Platforms, Inc. - Class A Common Stock $2,686,566 1.06% 4,070 $1,948,514 Up ×2
LOW Lowe's Companies, Inc. Common Stock $2,635,508 1.04% 10,928 $-138,651 Down ×4
BLK BlackRock, Inc. Common Stock $2,606,278 1.03% 2,435 $-204,635 Up ×1
TMO Thermo Fisher Scientific Inc Common Stock $2,605,207 1.03% 4,496 $363,930 Down ×1
PNC PNC Financial Services Group, Inc. (The) Common Stock $2,478,251 0.98% 11,873 $254,559 Up ×3
LLY Eli Lilly and Company Common Stock $2,462,092 0.97% 2,291 $591,979 Down ×1
JNJ Johnson & Johnson Common Stock $2,388,130 0.94% 11,540 $269,586 Up ×1
NEE NextEra Energy, Inc. Common Stock $2,294,483 0.90% 28,581 $156,606 Up ×2
MA Mastercard Incorporated Common Stock $2,085,996 0.82% 3,654 $7,564
SPY SPY $1,983,965 0.78% 2,909
XOM Exxon Mobil Corporation Common Stock $1,932,888 0.76% 16,062 $290,899 Up ×1
AXP American Express Company Common Stock $1,925,220 0.76% 5,204 $-49,803 Down ×1
MET MetLife, Inc. Common Stock $1,835,039 0.72% 23,246 $-79,734
WFC Wells Fargo & Company Common Stock $1,797,499 0.71% 19,286 $76,132 Down ×2
C Citigroup, Inc. Common Stock $1,763,683 0.69% 15,114 $229,586
XLU XLU $1,684,096 0.66% 39,449 Up ×1
EMR Emerson Electric Company Common Stock $1,678,510 0.66% 12,647 $6,227 Down ×3
CVX Chevron Corporation Common Stock $1,621,109 0.64% 10,637 $114 Up ×4
LMT Lockheed Martin Corporation Common Stock $1,594,660 0.63% 3,297 $-26,275 Up ×2
NKE Nike, Inc. Common Stock $1,570,260 0.62% 24,647 $-68,186 Up ×1
MRK Merck & Company, Inc. Common Stock (new) $1,523,849 0.60% 14,477 $232,894 Down ×3
CVS CVS Health Corporation Common Stock $1,485,473 0.58% 18,718 $46,836 Down ×4
IBM International Business Machines Corporation Common Stock $1,376,022 0.54% 4,645 $76,261 Up ×1
TT Trane Technologies plc $1,330,286 0.52% 3,418
CFG Citizens Financial Group, Inc. Common Stock $1,311,304 0.52% 22,450 $117,862
DIS Walt Disney Company (The) Common Stock $1,230,650 0.48% 10,817 $-110,946 Down ×1
SCHD SCHWAB STRATEGIC TRUST $1,143,285 0.45% 41,680 Up ×1
EVR Evercore Inc. Class A Common Stock $1,139,838 0.45% 3,350 $9,816
DUK Duke Energy Corporation (Holding Company) Common Stock $1,121,114 0.44% 9,565 $-16,767 Up ×1
DE Deere & Company Common Stock $1,016,339 0.40% 2,183 $18,140
BX Blackstone Inc. Common Stock $1,004,685 0.40% 6,518 $-39,721 Up ×1
ORCL Oracle Corporation Common Stock $997,744 0.39% 5,119 $-274,586 Up ×1
MMM 3M Company Common Stock $984,586 0.39% 6,150 $160,828 Up ×1
FDX FedEx Corporation Common Stock $917,130 0.36% 3,175 $121,271 Down ×1
MU Micron Technology, Inc. - Common Stock $913,312 0.36% 3,200 $319,326 Down ×1
SCHR SCHWAB STRATEGIC TRUST $902,880 0.36% 36,000 Up ×1
WMT Walmart Inc. - Common Stock $902,755 0.36% 8,103 $-131,658 Down ×2
CB Chubb Limited Common Stock $900,778 0.35% 2,886
FCX Freeport-McMoRan, Inc. Common Stock $896,444 0.35% 17,650 $204,211
PANW Palo Alto Networks, Inc. - Common Stock $884,160 0.35% 4,800 $-103,397 Down ×1
KO Coca-Cola Company (The) Common Stock $834,516 0.33% 11,937 $40,467 Down ×1
VZ Verizon Communications Inc. Common Stock $827,756 0.33% 20,323 $99,812 Up ×2
VIG VANGUARD SPECIALIZED FUNDS $806,504 0.32% 3,670 Up ×1
BK The Bank of New York Mellon Corporation Common Stock $786,742 0.31% 6,777 $57,582 Up ×1
COP ConocoPhillips Common Stock $773,628 0.30% 8,264 $15,548 Up ×1
ROP Roper Technologies, Inc. - Common Stock $756,721 0.30% 1,700 $-16,249 Up ×2
MUB iShares Trust $732,937 0.29% 6,843 Up ×1
ABT Abbott Laboratories Common Stock $715,209 0.28% 5,708 $-41,122 Up ×1
SDY SPDR SERIES TRUST $704,906 0.28% 5,065 Up ×1
BA Boeing Company (The) Common Stock $662,216 0.26% 3,050 $14,726 Up ×1
AMGN Amgen Inc. - Common Stock $631,708 0.25% 1,930 $105,969 Up ×1
WAT Waters Corporation Common Stock $626,340 0.25% 1,649 $131,953
CAT Caterpillar, Inc. Common Stock $612,971 0.24% 1,070 $42,777 Down ×4
RACE Ferrari N.V. Common Shares $582,057 0.23% 1,575
TFC Truist Financial Corporation Common Stock $579,841 0.23% 11,783 $11,541 Down ×2
BMY Bristol-Myers Squibb Company Common Stock $573,170 0.23% 10,626 $30,794 Down ×3
WEC WEC Energy Group, Inc. Common Stock $538,373 0.21% 5,105 $-40,307 Up ×1
SHW Sherwin-Williams Company (The) Common Stock $535,298 0.21% 1,652 $-27,374 Up ×2
XLE SELECT SECTOR SPDR TRUST $534,732 0.21% 11,960 Up ×1
DHR Danaher Corporation Common Stock $530,408 0.21% 2,317 $71,040
ADP Automatic Data Processing, Inc. - Common Stock $530,151 0.21% 2,061 $-55,675 Up ×1
IEF iShares 7-10 Year Treasury Bond ETF $529,077 0.21% 5,502 Up ×1
MTB M&T Bank Corporation Common Stock $506,319 0.20% 2,513 $19,581 Up ×1
PSX Phillips 66 Common Stock $502,095 0.20% 3,891 $-4,579 Up ×1
CSX CSX Corporation - Common Stock $496,625 0.20% 13,700 $10,138
PFE Pfizer, Inc. Common Stock $491,748 0.19% 19,749 $-47,096 Down ×1
IWM iShares Trust $475,089 0.19% 1,930 Up ×1
ED Consolidated Edison, Inc. Common Stock $456,872 0.18% 4,600 $-5,520
CMI Cummins Inc. Common Stock $451,748 0.18% 885 $58,944 Down ×1
HIG The Hartford Insurance Group, Inc. Common Stock $426,904 0.17% 3,098 $26,734 Up ×1
AMP Ameriprise Financial, Inc. Common Stock $426,596 0.17% 870 $-74,479 Down ×1
ADBE Adobe Inc. - Common Stock $412,988 0.16% 1,180 $-333,078 Down ×3
FTMA Franklin Massachusetts Municipal Income ETF $411,887 0.16% 45,714 Up ×1
SBUX Starbucks Corporation - Common Stock $397,640 0.16% 4,722 $55,433 Up ×2
ELV Elevance Health, Inc. Common Stock $385,605 0.15% 1,100 $-2,139 Down ×1
VOO VANGUARD INDEX FUNDS $371,888 0.15% 593 Up ×1
PEG Public Service Enterprise Group Incorporated Common Stock $369,380 0.15% 4,600 $-14,536
UL Unilever PLC American Depositary Shares (each representing One Ordinary Share) $369,118 0.15% 5,644 Up ×1
AKAM Akamai Technologies, Inc. - Common Stock $366,450 0.14% 4,200 $10,378 Down ×4
SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) $356,451 0.14% 4,851 $51,662 Up ×1

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

SecurityValue% of portfolioStreak
AMZN $4,338,954 1.71% up ×4
PNC $2,478,251 0.98% up ×3
CVX $1,621,109 0.64% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
ETN $3,881,044 12,185 1.53%
SPY $1,983,965 2,909 0.78%
XLU $1,684,096 39,449 0.66%
TT $1,330,286 3,418 0.52%
SCHD $1,143,285 41,680 0.45%
SCHR $902,880 36,000 0.36%
CB $900,778 2,886 0.35%
VIG $806,504 3,670 0.32%
MUB $732,937 6,843 0.29%
SDY $704,906 5,065 0.28%
RACE $582,057 1,575 0.23%
XLE $534,732 11,960 0.21%
IEF $529,077 5,502 0.21%
IWM $475,089 1,930 0.19%
FTMA $411,887 45,714 0.16%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
GOOGL Trimmed -1K +$3.6M
META Bought more +3K +$1.9M
MSFT Trimmed -618 -$1.9M
GOOG Trimmed -2K +$1.6M
AAPL Trimmed -788 +$1.4M
HD Bought more +52 -$610K
LLY Trimmed -160 +$592K
GS Trimmed -20 +$504K
BRK-B (filed as BRKB) Bought more +951 +$477K
NVDA Trimmed -2K -$460K

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
ETN Sept. 30, 2025 12,435 $4,439,171 16.5%
SPY June 30, 2025 3,539 $1,979,821 No longer tracked
TT Sept. 30, 2025 3,743 $1,637,226 9.9%
CB Sept. 30, 2025 2,874 $832,655 17.2%
RACE Sept. 30, 2025 1,675 $821,990 -20.0%
UL (filed as ULXXXX) Dec. 31, 2025 7,133 $422,844 -8.7%
QCOM Dec. 31, 2025 1,423 $236,730 8.1%
GBTC June 30, 2025 3,300 $215,061 -23.2%
VEA June 30, 2025 3,882 $197,322
CNND Dec. 31, 2025 1,000 $190,000 No longer tracked
INTC Sept. 30, 2025 4,962 $111,156 255.7%
VYM June 30, 2025 721 $92,980
ALLE Sept. 30, 2025 607 $87,481 -13.0%
CNI Sept. 30, 2025 800 $83,232 27.0%
EW Sept. 30, 2025 1,000 $78,210 9.5%
VOOG June 30, 2025 226 $75,659
QQQ June 30, 2025 149 $69,869 35.0%
JCI Sept. 30, 2025 550 $58,091 42.1%
HES Sept. 30, 2025 400 $55,416 No longer tracked
MDT Sept. 30, 2025 634 $55,266 -9.3%
CRH Sept. 30, 2025 538 $49,388 -31.7%
CHRW Sept. 30, 2025 500 $47,975 19.1%
TEL Sept. 30, 2025 238 $40,143 0.4%
FICO Dec. 31, 2025 20 $29,931 -60.9%
MFIC June 30, 2025 2,148 $27,623 -31.7%
ENB Sept. 30, 2025 492 $22,297 -8.9%
ACN Sept. 30, 2025 68 $20,325 -19.3%
CELH Sept. 30, 2025 400 $18,556 -53.5%
IT Dec. 31, 2025 70 $18,401 -26.7%
GM Dec. 31, 2025 300 $18,291 -3.8%
EXC Sept. 30, 2025 400 $17,368 -9.5%
WBA Sept. 30, 2025 1,500 $17,220 No longer tracked
XYL Sept. 30, 2025 132 $17,076 -31.0%
BXP June 30, 2025 250 $16,798 -10.4%
PHT Sept. 30, 2025 1,750 $14,158 No longer tracked
AMTM Sept. 30, 2025 524 $12,372 -24.3%
NUV June 30, 2025 1,300 $11,401 -4.7%
BTC June 30, 2025 300 $10,947 -22.0%
IBUY June 30, 2025 156 $9,383
KEY Dec. 31, 2025 317 $5,934 -2.7%
MRNA June 30, 2025 150 $4,252 588.7%
B Sept. 30, 2025 200 $4,164 22.8%
RAL Dec. 31, 2025 90 $3,936 43.8%
GOLD June 30, 2025 200 $3,888 90.7%
EG Sept. 30, 2025 11 $3,738 5.2%
SMCI June 30, 2025 90 $3,082 -10.9%
KLG Sept. 30, 2025 150 $2,391 No longer tracked
AAL Sept. 30, 2025 200 $2,244 15.1%
CTVA June 30, 2025 33 $2,077 -84.0%
WBD June 30, 2025 96 $1,030 170.0%
BIO June 30, 2025 4 $974 53.0%
OXYWS Sept. 30, 2025 40 $828 No longer tracked
ZIMV Dec. 31, 2025 30 $568 No longer tracked
VVX Sept. 30, 2025 7 $340 21.9%
REZI June 30, 2025 8 $142 -16.8%
ASIX June 30, 2025 2 $45 -31.7%
GTX June 30, 2025 5 $42 157.6%
TTNP Dec. 31, 2025 1 $5 No longer tracked