Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +19.4%
S&P 500 total return (same window) +37.0%
Excess return -17.6%

Annualized: +15.2% · S&P 500: +28.7%

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: 99.9% · Options excluded: 0.0%

Sector breakdown

04
Industrials 24.9%
Technology 21.3%
Health Care 13.2%
Financials 11.2%
Communication Services 8.7%
Retail 7.1%
Consumer Discretionary 4.9%
Real Estate 2.0%
Utilities 1.3%
Consumer Staples 1.3%
Energy 1.1%
Materials 0.8%
Consumer products 0.2%
Other/Unmapped 2.0%

Full portfolio 234 positions

05
Type Streak 8Q trend
KLAC KLA Corporation - Common Stock $57,766,688 2.35% 191,464 $16,656,711 Up ×1
AMAT Applied Materials, Inc. - Common Stock $52,665,256 2.14% 72,843 $15,199,159 Down ×4
APH Amphenol Corporation Common Stock $48,615,865 1.97% 275,725 $10,058,838 Down ×6
LRCX Lam Research Corporation - Common Stock $46,884,884 1.90% 108,197 $13,822,232 Down ×2
GOOGL Alphabet Inc. - Class A Common Stock $46,256,995 1.88% 129,437 $3,953,114 Down ×6
ANET Arista Networks, Inc. Common Stock $42,942,513 1.74% 252,781 $7,522,751 Down ×4
ROK Rockwell Automation, Inc. Common Stock $40,870,263 1.66% 82,553 $8,526,235 Down ×3
AAPL Apple Inc. - Common Stock $40,761,577 1.66% 140,868 $535,723 Down ×4
JBL Jabil Inc. Common Stock $40,429,962 1.64% 104,882 $-221,651 Down ×2
FIX Comfort Systems USA, Inc. Common Stock $39,495,487 1.60% 19,928 $-1,010,448 Down ×4
GWW W.W. Grainger, Inc. Common Stock $39,391,568 1.60% 28,956 $4,782,526 Down ×2
AVGO Broadcom Inc. - Common Stock $39,325,403 1.60% 104,104 $-1,237,800 Down ×6
NBIX Neurocrine Biosciences, Inc. - Common Stock $38,589,515 1.57% 228,970 $6,131,747 Down ×2
CAH Cardinal Health, Inc. Common Stock $38,528,327 1.56% 162,184 $1,736,122 Down ×3
AMZN Amazon.com, Inc. - Common Stock $35,994,900 1.46% 151,023 $800,631 Down ×6
ABBV AbbVie Inc. Common Stock $35,990,944 1.46% 143,026 $2,691,837 Down ×3
HALO Halozyme Therapeutics, Inc. - Common Stock $35,005,643 1.42% 447,242 $4,532,647 Down ×2
TT Trane Technologies plc $33,719,145 1.37% 68,652 Up ×1
CDW CDW Corporation - Common Stock $33,610,336 1.36% 238,981 Up ×1
JLL Jones Lang LaSalle Incorporated Common Stock $32,833,704 1.33% 105,932 $-1,614,491 Down ×3
APP Applovin Corporation - Class A Common Stock $32,616,100 1.32% 63,304 $5,768,819 Down ×1
AXP American Express Company Common Stock $32,412,628 1.32% 95,824 $7,540,033 Up ×1
MAR Marriott International - Class A Common Stock $32,360,683 1.31% 87,322 $8,321,221 Up ×2
V Visa Inc. $32,308,746 1.31% 94,170 $1,846,662 Down ×6
MSI Motorola Solutions, Inc. Common Stock $32,167,118 1.31% 77,457 $-3,803,503 Down ×2
DT Dynatrace, Inc. Common Stock $32,146,794 1.31% 732,106 $6,055,802 Up ×2
TPR Tapestry, Inc. Common Stock $32,073,508 1.30% 219,111 $-914,513 Down ×3
EME EMCOR Group, Inc. Common Stock $32,005,282 1.30% 38,566 $-6,977,795 Down ×4
GEV GE Vernova Inc. Common Stock $31,825,667 1.29% 27,089 Up ×1
Unknown issuer (CUSIP: G2004J103) $31,750,259 1.29% 1,111,315 Up ×1
AMGN Amgen Inc. - Common Stock $31,629,687 1.28% 87,346 $-819,159 Down ×2
MSFT Microsoft Corporation - Common Stock $31,440,326 1.28% 84,286 $-1,878,823 Down ×1
COST Costco Wholesale Corporation - Common Stock $31,033,701 1.26% 33,174 $-4,557,406 Down ×1
SCHW Charles Schwab Corporation (The) Common Stock $30,623,881 1.24% 331,894 $-1,755,477 Down ×2
ITW Illinois Tool Works Inc. Common Stock $30,508,081 1.24% 112,797 $6,624,175 Up ×2
META Meta Platforms, Inc. - Class A Common Stock $30,466,303 1.24% 54,086 $-2,426,583 Down ×6
MA Mastercard Incorporated Common Stock $30,441,416 1.24% 59,271 $-981,142 Down ×1
TJX TJX Companies, Inc. (The) Common Stock $29,622,722 1.20% 195,530 $-3,798,708 Down ×1
NRG NRG Energy, Inc. Common Stock $29,131,227 1.18% 199,447 $3,869,819 Up ×1
HSY The Hershey Company Common Stock $29,004,726 1.18% 165,316 $-8,009,716 Down ×1
NVDA NVIDIA Corporation - Common Stock $28,878,088 1.17% 144,325 $28,590,677 Up ×2
MCK McKesson Corporation Common Stock $28,276,454 1.15% 37,423 $-4,163,794 Down ×5
LOW Lowe's Companies, Inc. Common Stock $28,149,837 1.14% 127,669 $-3,166,295 Down ×4
MCO Moody's Corporation Common Stock $27,943,508 1.13% 61,696 $1,120,061 Up ×1
UBER Uber Technologies, Inc. Common Stock $27,307,015 1.11% 378,423 $-798,981 Down ×1
APO Apollo Global Management, Inc. (New) Common Stock $27,010,302 1.10% 228,301 $4,648,809 Up ×2
UNP Union Pacific Corporation Common Stock $25,688,645 1.04% 94,444 $25,390,805 Up ×1
NFLX Netflix, Inc. - Common Stock $24,403,371 0.99% 341,784 $-10,026,710 Down ×1
PTC PTC Inc. - Common Stock $21,470,420 0.87% 188,984 $-6,575,246 Down ×1
TW Tradeweb Markets Inc. - Class A Common Stock $21,107,397 0.86% 211,794 $-11,112,262 Down ×1
ULTA Ulta Beauty, Inc. - Common Stock $20,379,763 0.83% 45,190 $-8,173,162 Down ×3
CRM Salesforce, Inc. Common Stock $17,377,547 0.71% 110,925 $-7,539,815 Down ×1
PEGA Pegasystems Inc. - Common Stock $17,014,827 0.69% 567,729 $-4,581,786 Up ×1
ADSK Autodesk, Inc. - Common Stock $16,949,920 0.69% 87,182 $-10,255,428 Down ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $16,317,106 0.66% 34,167 $3,537,307 Down ×6
INTU Intuit Inc. - Common Stock $15,216,798 0.62% 58,302 $-14,195,784 Down ×1
SANM Sanmina Corporation - Common Stock $12,472,289 0.51% 49,282 $4,807,843 Down ×1
AIR AAR Corp. Common Stock $11,928,366 0.48% 83,456 $935,189 Down ×1
FLEX Flex Ltd. - Ordinary Shares $11,843,706 0.48% 73,078 $1,974,267 Down ×4
CDNL Cardinal Infrastructure Group Inc. - Class A Common Stock $11,413,366 0.46% 121,161 Up ×1
LTH Life Time Group Holdings, Inc. Common Stock $11,372,225 0.46% 278,458 $2,398,269 Down ×1
JAZZ Jazz Pharmaceuticals plc - Ordinary Shares $11,221,601 0.46% 46,568 $1,548,271 Down ×2
STRL Sterling Infrastructure, Inc. - Common Stock $11,058,568 0.45% 13,175 $-1,605,085 Down ×1
IESC IES Holdings, Inc. - Common Stock $10,908,966 0.44% 14,849 $594,343 Down ×1
IMAX Imax Corporation Common Stock $10,848,098 0.44% 272,155 $-1,390,856 Down ×1
UFPT UFP Technologies, Inc. - Common Stock $9,895,447 0.40% 37,323 $1,399,311 Down ×1
RELY Remitly Global, Inc. - Common stock $9,537,562 0.39% 425,594
SEI Solaris Energy Infrastructure, Inc. Class A Common Stock $9,478,188 0.38% 117,800 Up ×1
PLMR Palomar Holdings, Inc. - Common stock $9,445,757 0.38% 74,735 $-1,244,952 Down ×1
TIGO Millicom International Cellular S.A. - Common Stock $9,287,933 0.38% 102,335 $-2,613,938 Down ×6
NXT Nextpower Inc. - Class A Common Stock $9,255,272 0.38% 77,684 $-2,032,789 Down ×1
DY Dycom Industries, Inc. Common Stock $9,234,601 0.37% 18,265 $1,895,760 Down ×1
BTSG BrightSpring Health Services, Inc. - Common Stock $9,211,957 0.37% 132,090 Up ×1
SPXC SPX Technologies, Inc. Common Stock $9,199,514 0.37% 37,523 Up ×1
AX Axos Financial, Inc. Common Stock $9,163,522 0.37% 94,091 $-484,323 Down ×1
AEIS Advanced Energy Industries, Inc. - Common Stock $9,129,722 0.37% 24,485 $-344,721 Down ×1
MOD Modine Manufacturing Company Common Stock $9,048,774 0.37% 33,888 $-2,527,441 Down ×1
MEDP Medpace Holdings, Inc. - Common Stock $8,825,088 0.36% 16,664 $-2,936,686 Down ×1
FN Fabrinet Ordinary Shares $8,812,290 0.36% 15,678 $-1,006,889 Down ×1
TEVA Teva Pharmaceutical Industries Limited American Depositary Shares $8,799,674 0.36% 259,731 $257,012 Down ×4
PRVA Privia Health Group, Inc. - Common Stock $8,752,240 0.36% 340,157 $373,914 Down ×1
HQY HealthEquity, Inc. - Common Stock $8,746,498 0.36% 96,839 $530,397 Down ×1
CTRE CareTrust REIT, Inc. Common Stock $8,483,305 0.34% 210,243 $-2,456,427 Down ×1
ADUS Addus HomeCare Corporation - Common Stock $8,481,276 0.34% 84,416 $1,196,149 Up ×2
SFM Sprouts Farmers Market, Inc. - Common Stock $8,447,512 0.34% 99,876 $-803,923 Down ×1
MMSI Merit Medical Systems, Inc. - Common Stock $8,401,928 0.34% 121,170 $-45,512 Down ×1
FSS Federal Signal Corporation Common Stock $8,309,834 0.34% 64,673 Up ×1
CVLT Commvault Systems, Inc. - Common Stock $8,298,433 0.34% 58,551 Up ×1
BDC Belden Inc Common Stock $8,068,264 0.33% 67,286 $-1,215,053 Down ×1
INOD Innodata Inc. - Common Stock $8,043,299 0.33% 106,421 $773,277 Down ×1
EXLS ExlService Holdings, Inc. - Common Stock $8,030,616 0.33% 310,542 $332,673 Up ×2
HURN Huron Consulting Group Inc. - Common Stock $7,989,709 0.32% 88,617 $-1,396,870 Up ×2
FTI TechnipFMC plc Ordinary Share $7,830,828 0.32% 118,112 $-2,318,265 Down ×3
RMBS Rambus, Inc. - Common Stock $7,817,855 0.32% 58,896 $-1,283,689 Down ×2
NMIH NMI Holdings Inc - Common Stock $7,763,380 0.32% 188,936 $-768,495 Down ×1
ZETA Zeta Global Holdings Corp. Class A Common Stock $7,629,739 0.31% 387,690 Up ×1
CVSA Covista Inc. Common Shares $7,608,748 0.31% 61,036 $-841,613 Down ×1
AER AerCap Holdings N.V. Ordinary Shares $7,541,660 0.31% 51,733 $-205,077 Down ×4
TSEM Tower Semiconductor Ltd. - Ordinary Shares $7,469,647 0.30% 28,659 $-1,858,779 Down ×4
WAY Waystar Holding Corp. - Common Stock $7,359,902 0.30% 358,495 $811,602 Up ×2

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
TMDX $7,183,788 0.29% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
TT $33,719,145 68,652 1.37%
CDW $33,610,336 238,981 1.36%
GEV $31,825,667 27,089 1.29%
Unknown issuer (CUSIP: G2004J103) $31,750,259 1,111,315 1.29%
CDNL $11,413,366 121,161 0.46%
RELY $9,537,562 425,594 0.39%
SEI $9,478,188 117,800 0.38%
BTSG $9,211,957 132,090 0.37%
SPXC $9,199,514 37,523 0.37%
FSS $8,309,834 64,673 0.34%
CVLT $8,298,433 58,551 0.34%
ZETA $7,629,739 387,690 0.31%
CAAP $5,723,150 227,290 0.23%
RNW $1,258,669 201,387 0.05%
NTAP $338,460 2,187 0.01%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
KLAC Bought more +164K +$16.7M
AMAT Trimmed -37K +$15.2M
INTU Trimmed -10K -$14.2M
LRCX Trimmed -47K +$13.8M
TW Trimmed -62K -$11.1M
ADSK Trimmed -26K -$10.3M
APH Trimmed -29K +$10.1M
NFLX Trimmed -16K -$10.0M
ROK Trimmed -8K +$8.5M
MAR Bought more +14K +$8.3M

3 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
ZTS June 30, 2026 271,958 $32,148,125 -3.0%
ADBE March 31, 2026 81,498 $28,523,412 -2.2%
LULU June 30, 2025 89,630 $25,370,628 -60.2%
EXP June 30, 2025 109,540 $24,310,249 -15.2%
ICLR June 30, 2025 138,032 $24,154,176 11.4%
PYPL March 31, 2026 413,211 $24,123,271 16.7%
IT March 31, 2026 94,519 $23,845,144 16.7%
CCL June 30, 2026 916,677 $23,723,592 -9.8%
BRO Dec. 31, 2025 250,065 $23,453,560 -24.8%
HLI June 30, 2026 151,275 $21,726,180 -5.8%
PINS March 31, 2026 797,189 $20,639,234 5.0%
CPRT March 31, 2026 490,396 $19,198,984 -18.0%
NTNX March 31, 2026 345,664 $17,867,349 90.2%
BSX June 30, 2026 276,752 $17,366,173 -0.2%
CPRX June 30, 2026 445,215 $11,023,523 No longer tracked
CWAN March 31, 2026 417,761 $10,076,395 No longer tracked
FINV June 30, 2025 1,029,809 $9,917,058 -69.4%
PRIM June 30, 2026 66,686 $9,538,765 -20.2%
PI March 31, 2026 52,756 $9,180,072 84.6%
DUOL Dec. 31, 2025 27,571 $8,873,451 -17.8%
TXRH Dec. 31, 2025 52,508 $8,724,204 -5.9%
GRBK Dec. 31, 2025 112,998 $8,346,032 6.4%
GTLS Sept. 30, 2025 50,028 $8,237,110 No longer tracked
LMB June 30, 2026 104,828 $8,181,825 -36.2%
ATAT June 30, 2025 286,476 $8,121,606 -0.8%
RELY Dec. 31, 2025 495,040 $8,069,152 57.8%
CRDO June 30, 2026 77,075 $7,235,030 -19.6%
VRRM March 31, 2026 307,589 $6,893,355 -80.3%
JHG March 31, 2026 141,675 $6,739,491 No longer tracked
LNTH Sept. 30, 2025 80,319 $6,574,913 94.9%
JD Sept. 30, 2025 186,797 $6,097,048 -26.3%
ALKT March 31, 2026 259,524 $5,987,219 -11.4%
BLD June 30, 2026 16,847 $5,918,351 No longer tracked
HIMS March 31, 2026 179,224 $5,819,403 39.7%
BL June 30, 2026 156,812 $5,802,044 -2.4%
ADMA June 30, 2026 642,535 $5,789,240 16.1%
JAMF Dec. 31, 2025 538,959 $5,766,861 No longer tracked
MGRC March 31, 2026 51,484 $5,402,216 6.6%
GIB June 30, 2025 53,162 $5,307,156 -33.0%
ASR June 30, 2026 15,607 $5,246,018 -23.6%
FMX Sept. 30, 2025 45,671 $4,703,167 17.3%
FRSH March 31, 2026 362,050 $4,435,113 59.2%
NOMD Dec. 31, 2025 329,640 $4,334,763 -14.9%
ELF June 30, 2026 71,460 $4,331,191 41.5%
WGS June 30, 2026 66,977 $4,301,263 6.5%
PCTY March 31, 2026 28,108 $4,286,470 33.7%
QLYS June 30, 2026 47,827 $4,201,602 40.4%
GDYN Sept. 30, 2025 354,007 $4,088,781 4.0%
VITL June 30, 2026 281,307 $3,972,055 -22.1%
SMPL Sept. 30, 2025 125,643 $3,969,062 -60.4%
MTDR Sept. 30, 2025 82,654 $3,944,249 19.1%
SEMR Dec. 31, 2025 521,472 $3,692,022 No longer tracked
TENB Dec. 31, 2025 126,521 $3,689,352 56.6%
FCN June 30, 2025 22,045 $3,617,144 -15.5%
ANF Sept. 30, 2025 42,035 $3,482,600 58.9%
CLS Sept. 30, 2025 20,442 $3,191,201 57.2%
PD June 30, 2025 169,291 $3,092,947 0.4%
FLYW June 30, 2025 247,808 $2,354,176 50.3%
PLYA June 30, 2025 159,184 $2,121,923 No longer tracked
FIHL Sept. 30, 2025 97,953 $1,624,061 No longer tracked
ARCO Sept. 30, 2025 189,235 $1,493,064 5.3%
VLRS June 30, 2025 264,551 $1,380,956 36.6%
PSFE Dec. 31, 2025 81,794 $1,056,778 -33.4%
VET June 30, 2026 71,099 $979,744 24.7%
ROP March 31, 2026 2,099 $934,544 0.1%
OBE March 31, 2026 145,071 $889,314 No longer tracked
DCI June 30, 2026 9,688 $822,221 -1.2%
DCBO March 31, 2026 33,016 $732,955 33.5%
ORCL June 30, 2025 4,501 $629,285 -34.9%
MTLS March 31, 2026 108,581 $602,625 72.1%
D June 30, 2025 8,774 $491,958 8.5%
CWI March 31, 2026 11,702 $420,339
DFS June 30, 2025 2,222 $379,295 No longer tracked
CI Sept. 30, 2025 1,110 $367,086 -6.1%
BAH Dec. 31, 2025 3,659 $365,684 -20.2%
MMM March 31, 2026 2,284 $365,668 11.5%
COF March 31, 2026 1,485 $359,905 6.7%
AZO June 30, 2026 96 $324,267 -12.6%
DIS March 31, 2026 2,769 $315,029 6.0%
ECL June 30, 2026 1,043 $277,471 -1.8%
SHW June 30, 2025 794 $277,412 -6.9%
ACN June 30, 2026 1,399 $277,408 59.8%
UNH March 31, 2026 838 $276,732 37.4%
KKR Dec. 31, 2025 2,052 $266,647 -29.2%
FISV March 31, 2026 3,953 $265,523 -20.5%
EG Dec. 31, 2025 729 $255,318 8.5%
SKX Sept. 30, 2025 4,022 $253,788 No longer tracked
CAG June 30, 2025 9,327 $248,751 -34.7%
EPRT Sept. 30, 2025 7,565 $241,399 -13.0%
MAS March 31, 2026 3,773 $239,435 13.2%
NSA June 30, 2025 5,982 $235,691 No longer tracked
MAA March 31, 2026 1,645 $228,507 -5.6%
COP Sept. 30, 2025 2,511 $225,337 34.0%
VSS June 30, 2026 1,494 $217,810
AMH Sept. 30, 2025 5,979 $215,663 -9.0%
ESS March 31, 2026 823 $215,363 11.0%
FCPT Sept. 30, 2025 7,858 $211,459 -11.7%
AVB March 31, 2026 1,164 $211,045 No longer tracked
GLNG March 31, 2026 5,582 $207,715 -9.1%
PSA Sept. 30, 2025 702 $205,981 -1.7%
ORCL Dec. 31, 2025 723 $203,337 -27.0%
CUBE Dec. 31, 2025 4,992 $202,975 4.1%
NTAP March 31, 2026 1,895 $202,936 121.0%
VSS June 30, 2025 1,755 $202,878