Performance vs S&P 500

03
Tracked Q4 2025–Q2 2026 +27.7%
S&P 500 total return (same window) +8.7%
Excess return +19.0%

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
Financials 61.1%
Retail 18.5%
Industrials 10.4%
Consumer Staples 9.9%

Full portfolio 5 positions

05
Type Streak 8Q trend
CACC Credit Acceptance Corporation - Common Stock $52,927,739 47.00% 83,123 $12,742,232 Down ×1
W Wayfair Inc. Class A Common Stock $20,873,057 18.53% 225,850 $3,040,766 Down ×1
WRLD World Acceptance Corporation - Common Stock $15,925,505 14.14% 71,150 $5,446,401 Down ×1
CMPR Cimpress plc - Ordinary Shares $11,718,383 10.40% 115,225 $2,272,183 Down ×1
BTI British American Tobacco Industries, p.l.c. Common Stock ADR $11,178,560 9.93% 181,000 $-12,063,265 Down ×1

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
CACC Trimmed -12K +$12.7M
BTI Trimmed -216K -$12.1M
WRLD Trimmed -6K +$5.4M
W Trimmed -11K +$3.0M
CMPR Trimmed -14K +$2.3M

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
YELP March 31, 2026 8,000 $243,120 -26.2%