Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 -4.6%
S&P 500 total return (same window) +37.0%
Excess return -41.6%

Annualized: -3.7% · 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: 97.3% · Options excluded: 0.0%

Sector breakdown

04
Consumer Discretionary 18.6%
Retail 6.3%
Technology 4.6%
Financials 3.8%
Healthcare 0.4%
Industrials 0.3%
Real Estate 0.1%
Other/Unmapped 65.8%

Full portfolio 19 positions

05
Type Streak 8Q trend
Unknown issuer (CUSIP: 84615Q103) $20,933,621,114 65.64% 122,519,145 Up ×1
DASH DoorDash, Inc. - Common Stock $5,830,240,851 18.28% 31,595,084 $1,086,238,988
CART Maplebear Inc. - Common Stock $1,322,409,030 4.15% 27,928,385 $276,211,728
KLAR Klarna Group plc Ordinary Shares $1,113,791,230 3.49% 55,029,211 $393,458,858
U Unity Software Inc. Common Stock $909,556,328 2.85% 31,824,924 $211,317,495
PDD PDD Holdings Inc. - American Depositary Shares $674,435,418 2.11% 8,841,576 $-228,996,817
FIG Figma, Inc. Class A Common Stock $483,512,631 1.52% 26,728,172 $-81,520,903 Up ×2
BBIO BridgeBio Pharma, Inc. - Common Stock $138,559,911 0.43% 1,860,364 $409,280
YMM Full Truck Alliance Co. Ltd. American Depositary Shares (each representing 20 Class A Ordinary Shares) $106,030,180 0.33% 13,057,904 $-2,350,423
XYZ Block, Inc. Class A Common Stock, $75,299,128 0.24% 990,778 $15,674,108
ABNB Airbnb, Inc. - Class A Common Stock $73,076,305 0.23% 510,666 $8,589,403
AUR Aurora Innovation, Inc. - Class A Common Stock $60,083,797 0.19% 8,809,941 $23,786,840
Unknown issuer (CUSIP: 91332UAB7) $60,000,000 0.19% 60,000,000 $0
BEKE KE Holdings Inc American Depositary Shares (each representing three Class A Ordinary Shares) $31,864,028 0.10% 2,192,982 $-964,913
CHYM Chime Financial, Inc. - Class A Common Stock $29,690,471 0.09% 1,449,730 $2,537,028
TSLA Tesla, Inc. - Common Stock $23,304,184 0.07% 55,407 $2,706,632
AMPL Amplitude, Inc. - Class A Common Stock $21,411,976 0.07% 2,798,951 $2,323,130
BTDR Bitdeer Technologies Group - Ordinary Shares $2,192,726 0.01% 138,168 $997,573
MDB MongoDB, Inc. - Class A Common Stock $908,945 0.00% 2,706 $246,597

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 84615Q103) $20,933,621,114 122,519,145 65.64%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
DASH Price move only +0 +$1.1B
KLAR Price move only +0 +$393.5M
CART Price move only +0 +$276.2M
PDD Price move only +0 -$229.0M
U Price move only +0 +$211.3M
FIG Bought more +1 -$81.5M
AUR Price move only +0 +$23.8M
XYZ Price move only +0 +$15.7M
ABNB Price move only +0 +$8.6M
TSLA Price move only +0 +$2.7M

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
NU Sept. 30, 2025 72,785,016 $998,610,420 -16.1%
DDOG Dec. 31, 2025 2,389,407 $340,251,557 103.9%
ABNB Sept. 30, 2025 511,074 $67,635,533 33.8%
FRSH Sept. 30, 2025 2,885,303 $43,019,868 8.6%
VIA March 31, 2026 421,915 $12,239,754 95.5%