Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +55.9%
S&P 500 total return (same window) +37.0%
Excess return +18.9%

Annualized: +42.7% · 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: 98.3% · Options excluded: 0.1%

Sector breakdown

04
Technology 44.4%
Communication Services 11.1%
Healthcare 9.7%
Consumer Discretionary 6.7%
Real Estate 6.5%
Retail 6.3%
Industrials 6.2%
Financials 3.1%
Consumer products 0.5%
Other/Unmapped 5.4%

Full portfolio 55 positions

05
Type Streak 8Q trend
TSEM Tower Semiconductor Ltd. - Ordinary Shares $475,168,092 13.94% 1,823,082 $76,463,669 Down ×4
Unknown issuer (CUSIP: 55293N109) $180,687,224 5.30% 4,377,113 $60,116,245 Down ×1
ILMN Illumina, Inc. - Common Stock $177,362,886 5.20% 1,008,718 $-13,020,442 Down ×1
COMP Compass, Inc. Class A Common Stock $154,979,888 4.55% 12,569,334 $87,875,952 Up ×3
BILL BILL Holdings, Inc. Common Stock $148,352,475 4.35% 4,102,668 $1,458,647 Up ×3
WIX Wix.com Ltd. - Ordinary Shares $132,429,586 3.88% 2,918,880 $-205,754,442 Down ×1
PATH UiPath, Inc. Class A Common Stock $131,366,363 3.85% 12,085,222 $44,954,839 Up ×1
ALGN Align Technology, Inc. - Common Stock $125,709,888 3.69% 745,345 $-3,684,962 Down ×1
RDWR Radware Ltd. - Ordinary Shares $124,876,811 3.66% 4,046,559 $18,371,378
NCNO nCino, Inc. - Common Stock $119,783,305 3.51% 7,326,196 $40,262,454 Up ×4
VAC Marriott Vacations Worldwide Corporation Common Stock $114,730,328 3.36% 1,126,132 $39,713,716 Down ×3
OKTA Okta, Inc. - Class A Common Stock $112,655,167 3.30% 825,615 $47,285,331 Down ×1
GENI Genius Sports Limited Ordinary Shares $96,242,593 2.82% 15,881,616 $35,756,596 Up ×6
VOYG Voyager Technologies, Inc. Class A Common Stock $95,646,663 2.81% 2,965,788 $11,876,758 Down ×2
DKS Dick's Sporting Goods Inc Common Stock $94,920,212 2.78% 418,501 $10,954,113 Down ×1
RDDT Reddit, Inc. Class A Common Stock $87,564,340 2.57% 504,461 $39,172,207 Up ×1
CRTO Criteo S.A. - American Depositary Shares $84,039,046 2.46% 4,597,322 $1,609,063
PINS Pinterest, Inc. Class A Common Stock $82,494,760 2.42% 3,922,718 $16,570,144 Up ×3
CEVA CEVA, Inc. - Common Stock $77,019,590 2.26% 1,633,155 $32,960,718 Down ×2
LC LendingClub Corporation Common Stock $69,402,117 2.04% 3,346,293 $4,291,769 Down ×1
KRNT Kornit Digital Ltd. - Ordinary Shares $69,084,519 2.03% 4,251,355 $8,372,255 Up ×1
AAT American Assets Trust, Inc. Common Stock $65,462,029 1.92% 2,651,358 $-391,535 Down ×1
CIEN Ciena Corporation Common Stock $63,981,779 1.88% 130,426 $-3,153,282 Down ×4
UNFI United Natural Foods, Inc. Common Stock $53,942,298 1.58% 1,181,132 $-1,802,870 Down ×3
VRNS Varonis Systems, Inc. - Common Stock $53,325,999 1.56% 1,270,877 $22,217,193 Down ×1
RH RH Common Stock $51,404,161 1.51% 312,051 $-37,551,980 Down ×2
MCHP Microchip Technology Incorporated - Common Stock $45,253,440 1.33% 496,200 $11,901,758 Down ×1
META Meta Platforms, Inc. - Class A Common Stock $39,430,300 1.16% 70,000 Up ×1
PFSI PennyMac Financial Services, Inc. Common Stock $34,993,035 1.03% 401,757 $-9,461,489 Down ×1
ACVA ACV Auctions Inc. Class A Common Stock $30,742,894 0.90% 4,275,785 $15,772,366 Up ×5
VNET VNET Group, Inc. - American Depositary Shares $24,921,081 0.73% 3,099,637 $1,599,927 Up ×2
GFS GlobalFoundries Inc. - Ordinary Share $21,460,223 0.63% 260,408 Up ×1
INTC Intel Corporation - Common Stock $16,588,044 0.49% 118,800 $11,345,400
LOVE The Lovesac Company - Common Stock $16,526,638 0.48% 990,212 $1,381,583 Down ×1
BWA BorgWarner Inc. Common Stock $14,475,200 0.42% 218,000 Up ×1
CERS Cerus Corporation - Common Stock $13,473,058 0.40% 4,614,061 $5,985,467 Up ×2
CHWY Chewy, Inc. Class A Common Stock $12,719,445 0.37% 647,300 $1,649,445 Up ×1
WOLF Wolfspeed, Inc. Common Stock New $12,454,483 0.37% 258,124 $7,858,379 Down ×2
AMWL American Well Corporation Class A Common Stock $12,121,000 0.36% 1,329,057 $6,142,705 Up ×2
LASR nLIGHT, Inc. - Common Stock $11,162,732 0.33% 160,338 $-2,490,935 Down ×2
GSAT Globalstar, Inc. - Common Stock $10,511,610 0.31% 129,310 $-47,203,783 Down ×1
NVDA NVIDIA Corporation - Common Stock $8,123,654 0.24% 40,600 Up ×1
TSAT Telesat Corporation - Class A Common Shares and Class B Variable Voting Shares $6,968,754 0.20% 137,668 $1,985,172
QCOM QUALCOMM Incorporated - Common Stock $6,467,650 0.19% 35,000 Up ×1
EVLV Evolv Technologies Holdings, Inc. - Class A Common Stock $5,782,316 0.17% 996,951 $-249,238
MGNI Magnite, Inc. - Common Stock $4,253,418 0.12% 224,100 $1,591,110
LULU lululemon athletica inc. - Common Stock $4,196,115 0.12% 36,750 Up ×1
Unknown issuer (CUSIP: 738922103) $2,919,544 0.09% 198,879 Up ×1
INDI indie Semiconductor, Inc. - Class A Common Stock $2,482,265 0.07% 552,843 Up ×1
QURE uniQure N.V. - Ordinary Shares $1,948,338 0.06% 42,300 $766,233 Down ×1
VSCO Victorias Secret & Co. Common Stock $1,855,927 0.05% 22,232 Up ×1
BTX BlackRock Technology and Private Equity Term Trust Common Shares of Beneficial Interest $1,806,000 0.05% 200,000 Up ×1
RNTX Rein Therapeutics, Inc. - Common Stock $1,280,131 0.04% 1,230,895 $979,967 Up ×1
CGNT Cognyte Software Ltd. - Ordinary Shares $1,182,736 0.03% 134,708 $91,601
GDS GDS Holdings Limited - American Depositary Shares $900,900 0.03% 30,000

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
COMP $154,979,888 4.55% up ×3
BILL $148,352,475 4.35% up ×3
NCNO $119,783,305 3.51% up ×4
GENI $96,242,593 2.82% up ×6
PINS $82,494,760 2.42% up ×3
ACVA $30,742,894 0.90% up ×5

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
META $39,430,300 70,000 1.16%
GFS $21,460,223 260,408 0.63%
BWA $14,475,200 218,000 0.42%
NVDA $8,123,654 40,600 0.24%
QCOM $6,467,650 35,000 0.19%
LULU $4,196,115 36,750 0.12%
Unknown issuer (CUSIP: 738922103) $2,919,544 198,879 0.09%
INDI $2,482,265 552,843 0.07%
VSCO $1,855,927 22,232 0.05%
BTX $1,806,000 200,000 0.05%
GDS $900,900 30,000 0.03%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
WIX Trimmed -836K -$205.8M
COMP Bought more +3.4M +$87.9M
TSEM Trimmed -449K +$76.5M
· Trimmed -385K +$60.1M
OKTA Trimmed -5K +$47.3M
PATH Bought more +4.3M +$45.0M
NCNO Bought more +2.0M +$40.3M
VAC Trimmed -26K +$39.7M
RDDT Bought more +145K +$39.2M
RH Trimmed -324K -$37.6M

1 position 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
EPAM March 31, 2026 821,432 $168,294,988 -19.3%
OZK Sept. 30, 2025 1,581,582 $74,429,249 -12.6%
BA Dec. 31, 2025 264,750 $57,140,993 -12.6%
HOUS March 31, 2026 2,991,223 $42,355,718 No longer tracked
AVDX June 30, 2025 4,048,665 $34,332,679 No longer tracked
GO June 30, 2025 2,245,004 $31,385,156 -8.1%
CHKP March 31, 2026 162,391 $30,133,274 -7.6%
AAON June 30, 2026 310,740 $25,713,735 -30.6%
COMP June 30, 2025 2,897,511 $25,295,271 47.9%
BXP March 31, 2026 327,258 $22,083,370 15.2%
VRNT Sept. 30, 2025 1,090,737 $21,454,797 No longer tracked
JBI June 30, 2025 2,659,176 $19,146,067 -46.9%
GDS March 31, 2026 502,655 $17,542,660 -23.0%
AR March 31, 2026 446,871 $15,399,175 -15.8%
BX Sept. 30, 2025 92,400 $13,821,192 -33.6%
QRVO Sept. 30, 2025 162,083 $13,762,468 25.4%
ARE Sept. 30, 2025 171,134 $12,429,462 -44.9%
ESLT Dec. 31, 2025 21,735 $11,080,503 19.6%
CAE June 30, 2026 370,000 $9,638,500 -5.3%
AUDC March 31, 2026 1,066,772 $9,312,920 29.5%
GES Sept. 30, 2025 682,491 $8,251,316 No longer tracked
MU June 30, 2026 24,000 $8,108,160 -9.4%
INTC Dec. 31, 2025 180,000 $6,039,000 204.9%
MBLY Dec. 31, 2025 389,193 $5,495,405 -28.4%
SATX June 30, 2025 4,277,958 $5,133,550 No longer tracked
GOOG Dec. 31, 2025 16,329 $3,976,928 9.8%
LEVI March 31, 2026 160,000 $3,318,400 11.0%
MKFG June 30, 2025 640,819 $2,999,033 No longer tracked
TER Dec. 31, 2025 21,605 $2,973,712 122.3%
JBI March 31, 2026 451,203 $2,950,868 -16.1%
MNDY Dec. 31, 2025 15,000 $2,905,350 -42.9%
SRAD Dec. 31, 2025 90,000 $2,421,000 -48.8%
MAPS June 30, 2026 3,196,829 $2,104,792 No longer tracked
DOUG Dec. 31, 2025 469,334 $1,342,295 -36.7%
PACB June 30, 2025 1,093,954 $1,290,866 117.7%
LYFT Sept. 30, 2025 62,036 $977,687 -28.4%
OZK March 31, 2026 11,000 $506,220 -2.9%
ASTL March 31, 2026 85,789 $351,735 5.3%
DOCS June 30, 2026 12,700 $295,910 34.0%