Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +25.0%
S&P 500 total return (same window) +37.0%
Excess return -12.0%

Annualized: +19.5% · 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: 100.0% · Options excluded: 0.0%

Sector breakdown

04
Technology 27.9%
Communication Services 9.6%
Retail 7.9%
Consumer Discretionary 3.6%
Financials 1.8%
Other/Unmapped 49.2%

Full portfolio 21 positions

05
Type Streak 8Q trend
Unknown issuer (CUSIP: 84615Q103) $2,901,433,460 49.20% 16,981,350 Up ×1
NVDA NVIDIA Corporation - Common Stock $475,133,714 8.06% 2,374,600 $-53,943,566 Down ×2
GOOGL Alphabet Inc. - Class A Common Stock $398,181,654 6.75% 1,114,200 $-62,777,026 Down ×1
AMZN Amazon.com, Inc. - Common Stock $257,288,030 4.36% 1,079,500 $11,821,008 Down ×3
MSFT Microsoft Corporation - Common Stock $236,233,566 4.01% 633,300 $-46,169,127 Down ×2
ASML ASML Holding N.V. - New York Registry Shares $212,273,248 3.60% 106,700 $31,055,372 Down ×2
AVGO Broadcom Inc. - Common Stock $183,737,600 3.12% 486,400 $-61,610,977 Down ×1
SNDK Sandisk Corporation - Common Stock $172,348,734 2.92% 75,800 $132,385,848 Up ×1
SE Sea Limited American Depositary Shares, each representing one Class A Ordinary Share $170,098,250 2.88% 1,775,000 $23,110,500
TSLA Tesla, Inc. - Common Stock $129,881,280 2.20% 308,800 $-8,261,020 Down ×2
META Meta Platforms, Inc. - Class A Common Stock $125,388,354 2.13% 222,600 $-21,534,630 Down ×3
NOW ServiceNow, Inc. Common Stock $112,682,800 1.91% 1,135,000 $-5,981,450
KLAR Klarna Group plc Ordinary Shares $106,594,445 1.81% 5,266,524 $37,655,646
TTAN ServiceTitan, Inc. - Class A Common Stock $86,922,742 1.47% 1,229,285 $8,912,316
DASH DoorDash, Inc. - Common Stock $82,600,426 1.40% 447,626 $-156,738,674 Down ×1
AMD Advanced Micro Devices, Inc. - Common Stock $64,771,465 1.10% 111,500 Up ×1
SNOW Snowflake Inc. Common Stock $51,205,400 0.87% 201,200 $-29,483,300 Down ×3
CIEN Ciena Corporation Common Stock $43,659,840 0.74% 89,000 Up ×1
CPNG Coupang, Inc. Class A Common Stock $36,272,034 0.62% 2,088,200
MPWR Monolithic Power Systems, Inc. - Common Stock $25,297,188 0.43% 18,300 Up ×1
NET Cloudflare, Inc. Class A Common Stock $24,724,224 0.42% 100,800 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 84615Q103) $2,901,433,460 16,981,350 49.20%
AMD $64,771,465 111,500 1.10%
CIEN $43,659,840 89,000 0.74%
CPNG $36,272,034 2,088,200 0.62%
MPWR $25,297,188 18,300 0.43%
NET $24,724,224 100,800 0.42%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
DASH Trimmed -1.1M -$156.7M
SNDK Bought more +13K +$132.4M
GOOGL Trimmed -489K -$62.8M
AVGO Trimmed -306K -$61.6M
NVDA Trimmed -659K -$53.9M
MSFT Trimmed -130K -$46.2M
KLAR Price move only +0 +$37.7M
ASML Trimmed -30K +$31.1M
SNOW Trimmed -334K -$29.5M
SE Price move only +0 +$23.1M

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
PANW Dec. 31, 2025 1,885,000 $383,823,700 118.9%
SHOP June 30, 2025 3,386,000 $323,295,280 31.2%
ORCL Dec. 31, 2025 1,111,000 $312,457,640 -27.0%
SPOT Dec. 31, 2025 371,600 $259,376,800 -18.6%
CPNG Sept. 30, 2025 7,767,000 $232,699,320 -57.2%
TEAM June 30, 2025 996,000 $211,361,160 -7.5%
CDNS Dec. 31, 2025 541,000 $190,031,660 12.4%
RDDT June 30, 2025 1,612,000 $169,098,800 -1.8%
DT Sept. 30, 2025 2,823,000 $155,857,830 22.4%
TSM Dec. 31, 2025 453,000 $126,518,370 55.6%
NTSK June 30, 2026 10,950,921 $92,973,319 62.2%
CVNA March 31, 2026 208,000 $87,780,160 -79.7%
CHYM June 30, 2026 4,181,827 $78,325,620 33.1%
CRDO June 30, 2026 664,100 $62,339,067 -19.6%
Z June 30, 2026 1,264,900 $52,341,562 -13.0%
NU Sept. 30, 2025 1,176,507 $16,141,676 -16.1%
CART June 30, 2026 280,037 $10,490,186 -6.5%
NTSK Dec. 31, 2025 400,000 $9,092,000 1.2%
BLSH Dec. 31, 2025 100,000 $6,361,000 -9.6%
FIG June 30, 2026 60,000 $1,268,400 18.1%