Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +106.2%
S&P 500 total return (same window) +37.0%
Excess return +69.2%

Annualized: +78.4% · 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: 98.9% · Options excluded: 0.0%

Sector breakdown

04
Technology 41.2%
Industrials 30.5%
Healthcare 9.3%
Communication Services 8.5%
Financials 5.9%
Consumer Discretionary 2.4%
Materials 2.3%

Full portfolio 33 positions

05
Type Streak 8Q trend
LSCC Lattice Semiconductor Corporation - Common Stock $39,001,588 12.10% 254,979 $7,279,616 Down ×2
KRYS Krystal Biotech, Inc. - Common Stock $28,821,150 8.94% 77,545 $6,550,091 Down ×3
PRLB Proto Labs, Inc. Common stock $23,484,661 7.29% 288,120 $6,600,868 Down ×3
ALGM Allegro MicroSystems, Inc. - Common Stock $23,145,239 7.18% 332,451 $8,721,809 Down ×1
SYM Symbotic Inc. - Class A Common Stock $21,896,314 6.79% 487,126 $2,258,811 Up ×2
IPGP IPG Photonics Corporation - Common Stock $19,817,225 6.15% 168,916 $2,179,991 Up ×5
DAVE Dave Inc. - Class A Common Stock $14,173,324 4.40% 38,040 $1,109,610 Down ×1
KTOS Kratos Defense & Security Solutions, Inc. - Common Stock $12,438,824 3.86% 249,475 $136,592 Up ×1
OLED Universal Display Corporation - Common Stock $11,776,240 3.65% 136,000 $227,080 Up ×5
FIVN Five9, Inc. - Common Stock $10,983,957 3.41% 515,195 $2,865,049 Down ×1
MGNI Magnite, Inc. - Common Stock $10,778,021 3.34% 567,862 $5,992,020 Up ×1
AMBQ Ambiq Micro, Inc. Common Stock $10,664,256 3.31% 120,773 $5,765,894 Down ×1
SMWB Similarweb Ltd. Ordinary Shares $10,359,700 3.21% 1,690,000 $6,183,700 Up ×3
PUBM PubMatic, Inc. - Class A Common Stock $9,815,059 3.05% 748,099 $4,282,115 Up ×3
ARLO Arlo Technologies, Inc. Common Stock $8,691,459 2.70% 644,767 $2,148,975 Up ×1
ATI ATI Inc. Common Stock $7,884,000 2.45% 40,000 $-116,300 Down ×2
GTX Garrett Motion Inc. - Common Stock $7,789,450 2.42% 215,000 $3,337,800 Down ×1
FTK Flotek Industries, Inc. Common Stock $7,286,661 2.26% 309,807 $2,132,431 Up ×4
APPS Digital Turbine, Inc. - Common Stock $5,860,896 1.82% 454,333 $3,664,049 Down ×1
EVER EverQuote, Inc. - Class A Common Stock $5,308,691 1.65% 223,148 $1,867,749
TREE LendingTree, Inc. - Common Stock $4,795,190 1.49% 108,268 $903,058 Up ×1
CMRC Commerce.com, Inc. - Series 1 Common Stock $4,733,460 1.47% 1,599,142 $463,751
GDYN Grid Dynamics Holdings, Inc. - Class A Common Stock $3,616,666 1.12% 636,737 $-12,735
TENB Tenable Holdings, Inc. - Common Stock $3,319,200 1.03% 90,000 Up ×1
ASUR Asure Software Inc - Common Stock $3,170,918 0.98% 399,360 $-263,578
KLTR Kaltura, Inc. - Common Stock $2,525,645 0.78% 1,942,804 $681,874 Up ×4
AMPL Amplitude, Inc. - Class A Common Stock $2,412,825 0.75% 315,402 $1,387,083 Up ×1
SLAB Silicon Laboratories, Inc. - Common Stock $2,345,149 0.73% 10,730 $-3,483,051 Down ×2
EGHT 8x8 Inc - Common stock $1,597,544 0.50% 934,236 $46,712
GAIA Gaia, Inc. - Class A Common Stock $1,518,941 0.47% 723,305 $-484,614
DCGO DocGo Inc. - Common Stock $1,060,725 0.33% 2,055,271 $-232,246
FSTR L.B. Foster Company - Common Stock $817,622 0.25% 18,101 Up ×1
MTSI MACOM Technology Solutions Holdings, Inc. - Common Stock $380,370 0.12% 1,000 $158,300

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
IPGP $19,817,225 6.15% up ×5
OLED $11,776,240 3.65% up ×5
SMWB $10,359,700 3.21% up ×3
PUBM $9,815,059 3.05% up ×3
FTK $7,286,661 2.26% up ×4
KLTR $2,525,645 0.78% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
TENB $3,319,200 90,000 1.03%
FSTR $817,622 18,101 0.25%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
ALGM Trimmed -125K +$8.7M
LSCC Trimmed -87K +$7.3M
PRLB Trimmed -8K +$6.6M
KRYS Trimmed -9K +$6.6M
SMWB Bought more +90K +$6.2M
MGNI Bought more +165K +$6.0M
AMBQ Trimmed -72K +$5.8M
PUBM Bought more +72K +$4.3M
APPS Trimmed -308K +$3.7M
SLAB Trimmed -17K -$3.5M

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
AMBA March 31, 2026 128,551 $9,106,553 33.4%
POWI June 30, 2026 136,900 $7,009,280 -35.0%
SEMR June 30, 2026 550,079 $6,567,943 No longer tracked
ICHR Sept. 30, 2025 228,910 $4,495,792 259.1%
THRY Dec. 31, 2025 344,268 $4,151,872 -74.9%
MRVL Dec. 31, 2025 45,357 $3,813,163 220.4%
SITM Sept. 30, 2025 14,289 $3,044,700 135.5%
CXM June 30, 2026 451,661 $2,709,966 0.8%
PSIX Sept. 30, 2025 39,574 $2,559,646 -54.3%
UDMY Dec. 31, 2025 315,300 $2,210,253 No longer tracked
CTLP June 30, 2026 197,822 $2,138,456 No longer tracked
MNTN March 31, 2026 155,600 $1,857,864 12.4%
POWL Dec. 31, 2025 6,000 $1,828,860 -38.5%
PRO Sept. 30, 2025 110,052 $1,723,414 No longer tracked
MX Dec. 31, 2025 510,514 $1,597,909 44.3%
LITE Sept. 30, 2025 10,000 $950,600 567.1%
MTSI June 30, 2025 8,946 $897,999 124.4%