Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +20.6%
S&P 500 total return (same window) +37.0%
Excess return -16.4%

Annualized: +16.2% · 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: 93.5% · Options excluded: 0.0%

Sector breakdown

04
Technology 20.2%
Financials 16.0%
Retail 12.3%
Communication Services 9.6%
Industrials 9.2%
Energy 4.6%
Consumer Discretionary 2.9%
Materials 1.7%
Healthcare 1.7%
Utilities 1.3%
Real Estate 0.2%
Consumer Staples 0.0%
Other/Unmapped 20.1%

Full portfolio 93 positions

05
Type Streak 8Q trend
AAPL Apple Inc. - Common Stock $55,118,032 9.60% 190,482 $1,174,837 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $41,649,399 7.25% 116,544 $6,803,401 Down ×1
AMZN Amazon.com, Inc. - Common Stock $37,906,309 6.60% 159,043 $3,888,112 Down ×1
ALSN Allison Transmission Holdings, Inc. Common Stock $34,164,240 5.95% 303,035 $-949,959 Up ×4
RSP Invesco Exchange-Traded Fund Trust $27,183,558 4.73% 127,760 $-8,790,026 Down ×1
MSFT Microsoft Corporation - Common Stock $25,328,560 4.41% 67,901 $-422,800 Down ×1
NRP Natural Resource Partners LP Limited Partnership $25,266,612 4.40% 260,480 $-3,190,681 Up ×6
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $25,011,994 4.36% 49,985 $1,258,050 Up ×5
SPY SPY $20,974,529 3.65% 28,087 $1,636,669 Down ×2
QQQ Invesco QQQ Trust, Series 1 $20,805,640 3.62% 28,253 $17,473,478 Up ×4
V Visa Inc. $19,147,596 3.33% 55,809 $2,418,245 Up ×4
MTUM iShares Trust $16,691,446 2.91% 48,687 Up ×1
ASML ASML Holding N.V. - New York Registry Shares $14,883,057 2.59% 7,481 $3,720,690 Down ×1
BKNG Booking Holdings Inc. - Common Stock $14,565,984 2.54% 81,721 $5,509,567 Up ×2
MKL Markel Group Inc. Common Stock $13,552,913 2.36% 6,939 $473,116 Up ×5
ORLY O'Reilly Automotive, Inc. - Common Stock $13,392,603 2.33% 145,429 $-365,879 Down ×1
GS Goldman Sachs Group, Inc. (The) Common Stock $13,083,115 2.28% 12,936 $684,269 Down ×1
PBI Pitney Bowes Inc. Common Stock $12,832,231 2.23% 732,433 $4,579,715 Down ×1
AZO AutoZone, Inc. Common Stock $12,767,780 2.22% 3,995 $-973,029 Down ×1
FICO Fair Isaac Corporation Common Stock $11,158,050 1.94% 9,339 $2,433,046 Up ×2
MA Mastercard Incorporated Common Stock $10,979,242 1.91% 21,377 $365,955 Up ×1
APD Air Products and Chemicals, Inc. Common Stock $9,824,837 1.71% 33,511 $450,672 Up ×2
GRNY Fundstrat Granny Shots US Large Cap ETF $9,728,680 1.69% 351,851 Up ×1
META Meta Platforms, Inc. - Class A Common Stock $8,428,595 1.47% 14,963 $-250,673 Down ×1
NRG NRG Energy, Inc. Common Stock $7,731,102 1.35% 52,931 $1,535,204 Up ×5
NVDA NVIDIA Corporation - Common Stock $4,816,967 0.84% 24,074 $726,241 Up ×2
CBOE Cboe Global Markets, Inc. Common Stock $4,586,243 0.80% 18,899 $-872,723 Down ×1
JNJ Johnson & Johnson Common Stock $3,944,662 0.69% 15,532 Up ×1
GOOG Alphabet Inc. - Class C Capital Stock $3,309,642 0.58% 9,367 $579,595 Down ×1
VOO VANGUARD INDEX FUNDS $2,762,410 0.48% 4,022 $1,932,413 Up ×6
CME CME Group Inc. - Class A Common Stock $2,757,063 0.48% 12,485 $-930,382
WMT Walmart Inc. - Common Stock $2,564,320 0.45% 22,641 $1,480,971 Up ×2
UNH UnitedHealth Group Incorporated Common Stock (DE) $2,453,048 0.43% 5,902 $1,485,148 Up ×1
JPM JP Morgan Chase & Co. Common Stock $2,325,352 0.40% 7,104 $-1,220,747 Down ×1
HD Home Depot, Inc. (The) Common Stock $2,050,834 0.36% 5,815 $1,631,828 Up ×1
AVUS AMERICAN CENTURY ETF TRUST $1,936,185 0.34% 15,117 Up ×1
WM Waste Management, Inc. Common Stock $1,933,484 0.34% 8,675 $1,089,006 Up ×1
VTI VANGUARD INDEX FUNDS $1,866,112 0.32% 5,043 $244,097 Down ×1
AVGO Broadcom Inc. - Common Stock $1,481,913 0.26% 3,923 $154,734 Down ×1
SPG Simon Property Group, Inc. Common Stock $1,388,867 0.24% 6,210 $230,516
TCAF T. Rowe Price Exchange-Traded Funds, Inc. $1,240,480 0.22% 30,182 Up ×1
C Citigroup, Inc. Common Stock $1,217,835 0.21% 8,701 $-7,076,888 Down ×1
SCHD SCHWAB STRATEGIC TRUST $1,212,845 0.21% 38,248 Up ×1
MCD McDonald's Corporation Common Stock $1,192,498 0.21% 4,411 $-10,131,009 Down ×1
SOFI SoFi Technologies, Inc. - Common Stock $1,177,302 0.21% 65,661 $134,605
ELV Elevance Health, Inc. Common Stock $1,077,430 0.19% 2,786 $788,486 Up ×1
RTX RTX Corporation Common Stock $1,074,441 0.19% 5,663 $-64,055 Down ×3
MELI MercadoLibre, Inc. - Common Stock $1,065,961 0.19% 628 $28,549 Up ×1
GEHC GE HealthCare Technologies Inc. - Common Stock $1,024,160 0.18% 16,000 Up ×1
PYPL PayPal Holdings, Inc. - Common Stock $993,140 0.17% 23,000 Up ×1
VEU VANGUARD INTERNATIONAL EQUITY INDEX FUNDS $962,288 0.17% 11,490 $99,389
ABBV AbbVie Inc. Common Stock $940,882 0.16% 3,739 $138,344 Up ×1
KLAC KLA Corporation - Common Stock $938,318 0.16% 3,110 $492,178 Up ×1
ANET Arista Networks, Inc. Common Stock $917,182 0.16% 5,399 $253,924 Down ×1
VZ Verizon Communications Inc. Common Stock $862,593 0.15% 20,373 $-160,132
COST Costco Wholesale Corporation - Common Stock $855,020 0.15% 914 $4,069 Up ×1
TSLA Tesla, Inc. - Common Stock $791,990 0.14% 1,883 $36,222 Down ×2
LMT Lockheed Martin Corporation Common Stock $760,624 0.13% 1,493 $-254,147 Down ×2
ADI Analog Devices, Inc. - Common Stock $731,984 0.13% 1,843 $145,652
CAT Caterpillar, Inc. Common Stock $709,223 0.12% 666 $251,558 Up ×2
DE Deere & Company Common Stock $680,002 0.12% 1,072 $107,126 Up ×1
LWLG Lightwave Logic, Inc. - Common Stock $651,747 0.11% 68,895 $139,295 Down ×2
ITOT iShares Trust $616,670 0.11% 3,754 $82,985 Up ×1
SNEX StoneX Group Inc. - Common Stock $578,043 0.10% 4,878 $61,883 Down ×1
IAU iShares Gold Trust Shares $535,139 0.09% 7,087 $-89,651
DTI Drilling Tools International Corporation - Common Stock $525,971 0.09% 272,524 $-654,058
VXUS Vanguard Total International Stock ETF $503,622 0.09% 5,891 $49,367
VTV VANGUARD INDEX FUNDS $499,713 0.09% 2,293 $49,826
SHOP Shopify Inc. - Class A Subordinate Voting Shares $486,064 0.08% 4,257 $91,534 Up ×1
DFAE Dimensional ETF Trust $475,938 0.08% 11,836 Up ×1
MU Micron Technology, Inc. - Common Stock $455,945 0.08% 395 Up ×1
LLY Eli Lilly and Company Common Stock $412,604 0.07% 344 $116,438 Up ×1
AXP American Express Company Common Stock $402,856 0.07% 1,191 $61,659 Up ×2
CVX Chevron Corporation Common Stock $399,316 0.07% 2,409 $-99,106
AVDV AMERICAN CENTURY ETF TRUST $376,648 0.07% 3,655 Up ×1
VFH VANGUARD WORLD FUND $363,348 0.06% 2,761 $29,792
JEPI J.P. Morgan Exchange-Traded Fund Trust $356,332 0.06% 6,309 $70,721 Up ×2
KMI Kinder Morgan, Inc. Common Stock $354,132 0.06% 11,077 $-10,574 Up ×1
VDC VANGUARD WORLD FUND $348,157 0.06% 1,544 $1,390
VPU VANGUARD WORLD FUND $313,755 0.05% 1,603 $-3,863
SCHG SCHWAB STRATEGIC TRUST $301,887 0.05% 8,921 Up ×1
MS Morgan Stanley Common Stock $281,995 0.05% 1,349 Up ×1
VONE Vanguard Russell 1000 ETF $279,105 0.05% 824 $35,926
WFC Wells Fargo & Company Common Stock $277,092 0.05% 3,353 $8,329 Down ×1
DAL Delta Air Lines, Inc. Common Stock $262,248 0.05% 2,800 Up ×1
IWF iShares Trust $254,797 0.04% 2,052 $36,054 Up ×1
IVW iShares Trust $251,680 0.04% 1,830 $44,689
LOW Lowe's Companies, Inc. Common Stock $234,381 0.04% 1,063 $-16,785
TXN Texas Instruments Incorporated - Common Stock $222,956 0.04% 748
AMAT Applied Materials, Inc. - Common Stock $201,717 0.04% 279 Up ×1
KO Coca-Cola Company (The) Common Stock $200,246 0.03% 2,448 Up ×1
AMC AMC Entertainment Holdings, Inc. Class A Common Stock $38,000 0.01% 20,000 Call option Up ×1
AMC AMC Entertainment Holdings, Inc. Class A Common Stock $2,850 0.00% 1,500 Up ×1

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
ALSN $34,164,240 5.95% up ×4
NRP $25,266,612 4.40% up ×6
BRK-B (filed as BRKB) $25,011,994 4.36% up ×5
QQQ $20,805,640 3.62% up ×4
V $19,147,596 3.33% up ×4
MKL $13,552,913 2.36% up ×5
NRG $7,731,102 1.35% up ×5
VOO $2,762,410 0.48% up ×6

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
MTUM $16,691,446 48,687 2.91%
GRNY $9,728,680 351,851 1.69%
JNJ $3,944,662 15,532 0.69%
AVUS $1,936,185 15,117 0.34%
TCAF $1,240,480 30,182 0.22%
SCHD $1,212,845 38,248 0.21%
GEHC $1,024,160 16,000 0.18%
PYPL $993,140 23,000 0.17%
DFAE $475,938 11,836 0.08%
MU $455,945 395 0.08%
AVDV $376,648 3,655 0.07%
SCHG $301,887 8,921 0.05%
MS $281,995 1,349 0.05%
DAL $262,248 2,800 0.05%
TXN $222,956 748 0.04%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
RSP Trimmed -60K -$8.8M
GOOGL Trimmed -5K +$6.8M
BKNG Bought more +80K +$5.5M
PBI Trimmed -14K +$4.6M
AMZN Trimmed -4K +$3.9M
ASML Trimmed -970 +$3.7M
NRP Bought more +25K -$3.2M
FICO Bought more +1K +$2.4M
V Bought more +458 +$2.4M
VOO Bought more +3K +$1.9M

3 positions 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
MTD June 30, 2026 6,710 $8,462,652 16.3%
NKE Dec. 31, 2025 99,881 $7,003,550 -46.8%
ADBE Dec. 31, 2025 18,252 $6,438,393 -32.1%
FDX Dec. 31, 2025 18,172 $4,310,987 0.5%
NVO Dec. 31, 2025 76,918 $4,291,234 -26.7%
CSGP June 30, 2026 81,303 $3,279,763 -3.3%
NEE June 30, 2025 40,954 $2,903,243 10.7%
PEP Dec. 31, 2025 15,596 $2,190,302 -12.3%
LLY Dec. 31, 2025 2,493 $1,902,159 6.3%
HSY June 30, 2025 10,200 $1,744,506 -3.5%
MRK June 30, 2025 18,607 $1,685,180 82.3%
BLK Sept. 30, 2025 1,547 $1,623,190 -9.1%
GEV June 30, 2026 1,805 $1,575,585 -15.8%
SLB June 30, 2026 30,500 $1,567,395 4.8%
FCNCA Dec. 31, 2025 737 $1,318,611 -3.4%
UBER June 30, 2025 17,500 $1,275,050 -27.0%
MELI Dec. 31, 2025 538 $1,257,274 -15.8%
TXN March 31, 2026 6,632 $1,150,586 51.3%
WLFC June 30, 2025 7,102 $1,121,903 -4.0%
DELL June 30, 2025 12,000 $1,093,800 358.8%
NFLX June 30, 2026 11,178 $1,074,765 -6.1%
MELI June 30, 2025 500 $975,435 -35.1%
SHOP Sept. 30, 2025 8,424 $971,708 1.9%
TDG June 30, 2025 527 $728,994 -28.3%
NFLX June 30, 2025 519 $483,983 -95.0%
CPNG Dec. 31, 2025 15,000 $483,000 -41.6%
ELV Sept. 30, 2025 1,055 $410,353 19.6%
INTU March 31, 2026 388 $257,019 -35.0%
SBUX June 30, 2026 2,650 $237,414 -7.3%
IJR June 30, 2026 1,894 $235,443 -6.8%
VO June 30, 2026 800 $229,744
ABT June 30, 2026 2,204 $226,285 7.4%
MKC Sept. 30, 2025 2,950 $223,669 -33.2%
XLE June 30, 2025 2,344 $219,047 48.1%
USMV Sept. 30, 2025 2,297 $215,619
GWW June 30, 2025 218 $215,347 23.1%
MAR Dec. 31, 2025 826 $215,123 15.7%
ACN Sept. 30, 2025 695 $207,729 -19.3%
UNP Dec. 31, 2025 864 $204,224 20.3%
UNP June 30, 2025 862 $203,639 20.9%