Performance vs S&P 500

03
Tracked Q2 2025–Q2 2026 +9.2%
S&P 500 total return (same window) +21.7%
Excess return -12.4%

Annualized: +9.2% · S&P 500: +21.7%

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: 85.8% · Options excluded: 0.0%

Sector breakdown

04
Communication Services 21.8%
Technology 19.6%
Healthcare 13.7%
Financials 10.0%
Retail 3.8%
Consumer Staples 1.7%
Consumer Discretionary 1.1%
Energy 1.0%
Consumer products 0.5%
Materials 0.1%
Real Estate 0.0%
Industrials 0.0%
Other/Unmapped 26.9%

Full portfolio 137 positions

05
Type Streak 8Q trend
META Meta Platforms, Inc. - Class A Common Stock $191,715,854 15.37% 340,350 $-3,562,415 Down ×2
AAPL Apple Inc. - Common Stock $64,799,551 5.20% 223,941 $8,131,325 Up ×2
VUG Vanguard Morningstar Growth ETF $63,183,259 5.07% 733,495 $9,968,282 Up ×2
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $57,628,363 4.62% 115,167 $-32,232,077 Down ×3
UNH UnitedHealth Group Incorporated Common Stock (DE) $57,478,233 4.61% 138,292 $20,189,698 Up ×3
ABBV AbbVie Inc. Common Stock $57,323,313 4.60% 227,799 $8,159,838 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $53,083,410 4.26% 148,539 $10,990,681 Up ×1
VO Vanguard Morningstar Mid-Cap ETF $42,315,006 3.39% 525,196 $4,726,044 Up ×6
IGV iShares Expanded Tech-Software Sector ETF $40,019,524 3.21% 441,717 $5,009,214 Up ×2
MSFT Microsoft Corporation - Common Stock $34,796,950 2.79% 93,284 $1,479,308 Up ×2
AMZN Amazon.com, Inc. - Common Stock $32,549,550 2.61% 136,568 $4,926,134 Up ×1
VB Vanguard Morningstar Small-Cap ETF $30,990,289 2.48% 102,238 $4,206,571 Down ×5
ADI Analog Devices, Inc. - Common Stock $29,773,889 2.39% 74,965 $6,279,607 Up ×1
XLV SELECT SECTOR SPDR TRUST $27,271,876 2.19% 171,889 $2,077,638 Up ×1
AMD Advanced Micro Devices, Inc. - Common Stock $25,620,255 2.05% 44,104 $16,796,134 Up ×2
WFC Wells Fargo & Company Common Stock $22,650,728 1.82% 274,089 $962,379 Up ×1
JNJ Johnson & Johnson Common Stock $22,633,570 1.81% 89,119 $920,835 Up ×1
BAC Bank of America Corporation Common Stock $21,932,707 1.76% 384,919 $3,227,419 Up ×1
GOOG Alphabet Inc. - Class C Capital Stock $20,725,248 1.66% 58,657 $3,942,169 Up ×1
XLE SELECT SECTOR SPDR TRUST $18,286,599 1.47% 344,316 $-2,718,031 Up ×1
ORCL Oracle Corporation Common Stock $15,277,685 1.22% 104,249 $-169,274 Down ×4
MRK Merck & Company, Inc. Common Stock (new) $14,884,284 1.19% 115,831 $991,800 Up ×1
HD Home Depot, Inc. (The) Common Stock $13,928,296 1.12% 39,493 $245,464 Down ×6
VOO Vanguard S&P 500 ETF $13,016,920 1.04% 18,953 $2,358,090 Up ×1
PM Philip Morris International Inc Common Stock $12,856,927 1.03% 71,068 $1,206,051 Up ×5
QCOM QUALCOMM Incorporated - Common Stock $12,836,265 1.03% 69,464 $1,206,328 Down ×6
NVDA NVIDIA Corporation - Common Stock $12,801,561 1.03% 63,979 $1,560,603 Down ×3
VHT Vanguard Health Care ETF $12,634,528 1.01% 42,255 $1,749,658 Up ×6
AMAT Applied Materials, Inc. - Common Stock $12,429,319 1.00% 17,191 $6,384,893 Down ×4
BIL SPDR SERIES TRUST $11,980,998 0.96% 130,740 $7,014,794 Up ×1
ABT Abbott Laboratories Common Stock $11,512,817 0.92% 126,877 $-1,526,735 Down ×2
AXP American Express Company Common Stock $11,445,442 0.92% 33,837 $1,227,771 Up ×5
XOM Exxon Mobil Corporation Common Stock $11,031,973 0.88% 80,690 $-2,605,867 Up ×1
IBB iShares Trust $7,838,297 0.63% 41,213 $818,672 Down ×6
SBUX Starbucks Corporation - Common Stock $7,728,209 0.62% 75,626 $992,892 Up ×1
NTNX Nutanix, Inc. - Class A Common Stock $7,144,235 0.57% 140,193 $1,815,499
IYH iShares U.S. Healthcare ETF $6,861,181 0.55% 102,390 $549,157 Down ×3
V Visa Inc. $6,536,032 0.52% 19,050 $796,941 Up ×1
IXN iShares Global Tech ETF $6,402,556 0.51% 44,314 $1,974,726 Up ×1
PG Procter & Gamble Company (The) Common Stock $5,848,835 0.47% 39,886 $46,851 Down ×2
AVGO Broadcom Inc. - Common Stock $4,619,950 0.37% 12,230 $1,540,221 Up ×1
PANW Palo Alto Networks, Inc. - Common Stock $4,443,832 0.36% 13,031 $2,354,702
ICSH iShares Ultra Short Duration Bond Active ETF $4,018,618 0.32% 79,451 $-694,486 Down ×3
LH Labcorp Holdings Inc. Common Stock $3,951,365 0.32% 14,112 $167,602 Down ×2
PEP PepsiCo, Inc. - Common Stock $3,914,121 0.31% 28,908 $-546,406 Up ×1
QQQ Invesco QQQ Trust, Series 1 $3,707,021 0.30% 5,034 $801,510
RBRK Rubrik, Inc. Class A Common Stock $3,583,057 0.29% 44,632 $1,397,428
SSO ProShares Ultra S&P500 $3,423,120 0.27% 50,803 $746,745 Down ×1
LLY Eli Lilly and Company Common Stock $3,340,264 0.27% 2,785 $792,815 Up ×1
CRM Salesforce, Inc. Common Stock $3,288,703 0.26% 20,993 $-1,055,573 Down ×4
MDLZ Mondelez International, Inc. - Class A Common Stock $2,911,382 0.23% 50,335 $-419,357 Down ×2
IAK iShares U.S. Insurance ETF $2,686,626 0.22% 19,114 $221,657 Down ×1
JPST JPMorgan Ultra-Short Income ETF $2,631,558 0.21% 52,038 $-20,669 Down ×6
TSLA Tesla, Inc. - Common Stock $2,571,795 0.21% 6,115 $1,437,525 Up ×1
NFLX Netflix, Inc. - Common Stock $2,555,184 0.20% 35,787 $10,393 Up ×1
Unknown issuer (CUSIP: 438516205) $2,509,247 0.20% 11,207 Up ×1
Unknown issuer (CUSIP: 43849R105) $2,474,770 0.20% 11,194 Up ×1
VYM Vanguard High Dividend Yield ETF $2,460,577 0.20% 15,570 $168,668 Up ×6
SPY SPY $2,389,959 0.19% 3,200 $313,615 Up ×1
KLAC KLA Corporation - Common Stock $2,070,463 0.17% 6,862 $1,080,591 Up ×1
PFF iShares Preferred and Income Securities ETF $2,020,051 0.16% 66,253 $-1,226,562 Down ×1
NKE Nike, Inc. Common Stock $2,012,268 0.16% 49,020 $-1,144,101 Down ×3
INTC Intel Corporation - Common Stock $1,935,156 0.16% 13,859 $1,341,344 Up ×1
VTI Vanguard Morningstar Total Stock Market ETF $1,926,479 0.15% 5,206 $259,996 Up ×1
VWO Vanguard FTSE Emerging Markets ETF $1,580,678 0.13% 26,481 $134,684 Down ×1
EEM iShares, Inc. $1,556,523 0.12% 22,753 $270,846 Up ×1
VTEB Vanguard Tax-Exempt Bond ETF $1,481,570 0.12% 29,292 $-500,081 Down ×2
SKYY First Trust Cloud Computing ETF $1,481,477 0.12% 11,010 $277,446
XLF SELECT SECTOR SPDR TRUST $1,384,660 0.11% 25,828 $123,532 Up ×2
NOBL ProShares Trust $1,358,373 0.11% 24,188 $62,554 Up ×5
CTSH Cognizant Technology Solutions Corporation - Class A Common Stock $1,351,744 0.11% 34,902 $-1,160,787 Down ×3
FDN First Trust Exchange-Traded Fund $1,340,298 0.11% 5,063 $155,386
ANET Arista Networks, Inc. Common Stock $1,338,253 0.11% 7,878 $374,676 Up ×1
SNPS Synopsys, Inc. - Common Stock $1,303,234 0.10% 2,922 $-152,478 Down ×2
VUSB Vanguard Ultra-Short Bond ETF $1,273,360 0.10% 25,580 $-1,440,533 Down ×3
IVV iShares Trust $1,165,829 0.09% 1,557 $150,893 Up ×1
MA Mastercard Incorporated Common Stock $1,159,811 0.09% 2,258 $133,192 Up ×1
CSCO Cisco Systems, Inc. - Common Stock $1,151,721 0.09% 9,805 $394,382 Up ×2
DFUS Dimensional ETF Trust $1,080,330 0.09% 13,184 $147,724 Up ×6
ASML ASML Holding N.V. - New York Registry Shares $1,051,314 0.08% 528 Up ×1
MO Altria Group, Inc. $981,717 0.08% 13,644 $92,975 Up ×1
IBN ICICI Bank Limited Common Stock $979,596 0.08% 33,744 $105,620
FRSH Freshworks Inc. - Class A Common Stock $972,946 0.08% 96,141 $-278,931 Down ×2
TSM Taiwan Semiconductor Manufacturing Company Ltd. $938,830 0.08% 1,966 $22,683 Down ×2
XLC SELECT SECTOR SPDR TRUST $900,360 0.07% 8,404 $-31,629 Down ×1
VGT Vanguard Information Tech ETF $861,823 0.07% 7,211 $233,431 Up ×6
JPM JP Morgan Chase & Co. Common Stock $848,751 0.07% 2,593 $87,873 Up ×1
UAN CVR Partners, LP Common Units representing Limited Partner Interests $841,260 0.07% 7,546 $-88,025 Up ×2
IJR iShares Trust $806,936 0.06% 5,441 $130,331 Down ×1
DELL Dell Technologies Inc. Class C Common Stock $774,823 0.06% 1,796 $470,845 Down ×1
SCHD SCHWAB STRATEGIC TRUST $764,267 0.06% 24,102 $30,588 Up ×1
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $748,850 0.06% 1 $30,710
COST Costco Wholesale Corporation - Common Stock $633,467 0.05% 677 $307,951 Up ×1
ET Energy Transfer LP Common Units $605,828 0.05% 31,686 $4,248 Up ×4
IJH iShares Trust $578,950 0.05% 7,508 $72,348 Up ×1
RBLX Roblox Corporation Class A Common Stock $478,272 0.04% 8,795 $-19,173
SMH SMH $476,739 0.04% 727 $265,098 Up ×1
PLTR Palantir Technologies Inc. - Class A Common Stock $471,697 0.04% 4,043 $230,335 Up ×1
LC LendingClub Corporation Common Stock $452,526 0.04% 21,819 $80,063 Down ×1
ADBE Adobe Inc. - Common Stock $425,417 0.03% 2,075 $-78,974

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
UNH $57,478,233 4.61% up ×3
VO $42,315,006 3.39% up ×6
PM $12,856,927 1.03% up ×5
VHT $12,634,528 1.01% up ×6
AXP $11,445,442 0.92% up ×5
VYM $2,460,577 0.20% up ×6
NOBL $1,358,373 0.11% up ×5
DFUS $1,080,330 0.09% up ×6
VGT $861,823 0.07% up ×6
ET $605,828 0.05% up ×4
IYY $412,359 0.03% up ×6
IVW $379,557 0.03% up ×6
DGRO $331,691 0.03% up ×6
SCHX $312,244 0.03% up ×6
ONEQ $310,400 0.02% up ×5

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 438516205) $2,509,247 11,207 0.20%
Unknown issuer (CUSIP: 43849R105) $2,474,770 11,194 0.20%
ASML $1,051,314 528 0.08%
VOOG $321,702 3,894 0.03%
VFH $300,896 2,286 0.02%
SNDK $296,842 131 0.02%
XME $294,268 2,752 0.02%
NXPI $281,030 1,000 0.02%
JEPQ $269,409 4,383 0.02%
Unknown issuer (CUSIP: 84615Q103) $255,830 1,497 0.02%
IRM $243,280 1,926 0.02%
MU $240,759 209 0.02%
SGOV $226,749 2,252 0.02%
IWB $223,633 546 0.02%
MMM $221,506 1,368 0.02%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
BRK-B (filed as BRKB) Trimmed -72K -$32.2M
UNH Bought more +487 +$20.2M
AMD Bought more +727 +$16.8M
GOOGL Bought more +2K +$11.0M
VUG Bought more +612K +$10.0M
ABBV Bought more +2K +$8.2M
AAPL Bought more +653 +$8.1M
BIL Bought more +77K +$7.0M
AMAT Trimmed -494 +$6.4M
ADI Bought more +1K +$6.3M

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
HON June 30, 2026 24,267 $5,484,962 -4.2%
SNOW March 31, 2026 15,009 $3,292,374 125.5%
NOW Sept. 30, 2025 1,619 $1,664,492 -26.1%
XYZ March 31, 2026 20,957 $1,364,091 25.6%
PYPL March 31, 2026 11,214 $654,684 18.5%
SUB March 31, 2026 5,625 $600,180
AKRE March 31, 2026 8,943 $585,856
OGN Sept. 30, 2025 42,882 $415,094 28.4%
EXPO March 31, 2026 4,941 $343,202 4.0%
IWM March 31, 2026 1,337 $329,025 13.2%
JEPI March 31, 2026 5,341 $305,719
INTU March 31, 2026 455 $301,557 -33.5%
TOST March 31, 2026 7,802 $277,049 15.9%
GBTC March 31, 2026 3,640 $248,830 27.0%
IBM Sept. 30, 2025 814 $239,812 -21.6%
SCHG March 31, 2026 7,338 $239,351 24.5%
COIN March 31, 2026 1,028 $232,472 9.4%
BSX June 30, 2026 3,700 $232,175 0.7%
TWLO Sept. 30, 2025 1,865 $231,931 192.4%
RTX March 31, 2026 1,238 $227,117 -4.7%
DASH March 31, 2026 1,000 $226,480 27.6%
SMH Dec. 31, 2025 692 $225,746 75.2%
CVX Dec. 31, 2025 1,403 $217,840 34.0%
NXPI March 31, 2026 1,000 $217,060 21.8%
MMM March 31, 2026 1,354 $216,848 10.6%
SOLS March 31, 2026 4,453 $216,327 -24.8%
ACN Sept. 30, 2025 720 $215,286 -20.0%
G Dec. 31, 2025 5,001 $209,492 -28.5%
PAYX March 31, 2026 1,816 $203,676 8.2%
IWB March 31, 2026 544 $203,031
KHC Dec. 31, 2025 7,770 $202,324 -9.6%
ARR Dec. 31, 2025 10,000 $149,400 -22.5%
PFLT Dec. 31, 2025 10,000 $88,900 -26.0%
OPEN June 30, 2026 10,000 $46,800 -48.7%
WKHS Dec. 31, 2025 10,000 $11,000 -41.5%
DVLT June 30, 2026 10,000 $6,183 -55.1%