Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +27.8%
S&P 500 total return (same window) +37.0%
Excess return -9.2%

Annualized: +21.7% · 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: 94.9% · Options excluded: 0.0%

Sector breakdown

04
Financials 20.5%
Communication Services 19.9%
Industrials 15.4%
Retail 15.3%
Healthcare 11.9%
Technology 9.3%
Consumer Discretionary 4.8%
Consumer products 2.4%
Energy 0.4%
Materials 0.3%

Full portfolio 31 positions

05
Type Streak 8Q trend
LLY Eli Lilly and Company Common Stock $158,315,165 11.45% 131,992 $52,899,406 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $108,162,676 7.82% 302,663 $22,862,028 Up ×1
AMZN Amazon.com, Inc. - Common Stock $98,308,338 7.11% 412,471 $-13,824,865 Down ×1
META Meta Platforms, Inc. - Class A Common Stock $95,941,806 6.94% 170,324 $14,613,526 Up ×1
NVDA NVIDIA Corporation - Common Stock $89,830,205 6.50% 448,949 $5,500,068 Down ×1
COF Capital One Financial Corporation Common Stock $89,113,398 6.45% 444,190 $62,019,259 Up ×1
C Citigroup, Inc. Common Stock $86,007,659 6.22% 614,516 $10,662,818 Down ×1
LUV Southwest Airlines Company Common Stock $78,563,178 5.68% 1,527,872 $58,648,035 Up ×1
UBER Uber Technologies, Inc. Common Stock $70,752,303 5.12% 980,492 $-6,345,292 Down ×1
NFLX Netflix, Inc. - Common Stock $70,518,067 5.10% 987,648 $-28,069,936 Down ×1
HD Home Depot, Inc. (The) Common Stock $64,721,365 4.68% 183,513 $12,066,405 Up ×5
GM General Motors Company Common Stock $63,952,043 4.63% 829,684 $-265,542 Down ×1
MS Morgan Stanley Common Stock $57,628,565 4.17% 275,682 $11,754,513 Down ×1
BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share $42,951,338 3.11% 447,503 $-15,259,969 Down ×1
MSFT Microsoft Corporation - Common Stock $38,527,371 2.79% 103,285 $35,380,186 Up ×1
RYAAY Ryanair Holdings plc - American Depositary Shares, each representing five Ordinary Shares $36,232,805 2.62% 559,580 $3,717,993 Down ×2
BAC Bank of America Corporation Common Stock $34,938,598 2.53% 613,173 $-10,599,460 Down ×2
PHM PulteGroup, Inc. Common Stock $33,825,832 2.45% 246,526 $27,289,068 Up ×1
VLRS Controladora Vuela Compania de Aviacion, S.A.B. de C.V. American Depositary Shares, each representing ten (10) Ordinary Participation Certificates $14,008,731 1.01% 1,495,062 $3,184,482
RTX RTX Corporation Common Stock $10,471,388 0.76% 55,191 $-1,101,069 Down ×1
WFC Wells Fargo & Company Common Stock $9,002,884 0.65% 108,941 $-66,261,763 Down ×1
EOG EOG Resources, Inc. Common Stock $4,877,329 0.35% 37,596 $-1,132,735 Down ×2
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $4,221,290 0.31% 8,436 $-323,922 Down ×2
DGX Quest Diagnostics Incorporated Common Stock $3,868,299 0.28% 18,251 $-1,741,629 Down ×1
PRM Perimeter Solutions, SA Common Stock $3,659,116 0.26% 102,640 $1,152,647
SAH Sonic Automotive, Inc. Common Stock $3,328,855 0.24% 39,260 $636,797
DAL Delta Air Lines, Inc. Common Stock $2,586,608 0.19% 27,617
BX Blackstone Inc. Common Stock $2,455,655 0.18% 20,869 $-34,798 Down ×1
BKNG Booking Holdings Inc. - Common Stock $2,026,589 0.15% 11,370 $39,318 Up ×1
AZO AutoZone, Inc. Common Stock $1,888,801 0.14% 591 $-181,778 Down ×2
DHR Danaher Corporation Common Stock $1,654,319 0.12% 8,685 $-54,546 Down ×2

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
HD $64,721,365 4.68% up ×5

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
DAL $2,586,608 27,617 0.19%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
COF Bought more +296K +$62.0M
LUV Bought more +998K +$58.6M
LLY Bought more +17K +$52.9M
NFLX Trimmed -38K -$28.1M
GOOGL Bought more +6K +$22.9M
BABA Trimmed -16K -$15.3M
META Bought more +28K +$14.6M
AMZN Trimmed -126K -$13.8M
HD Bought more +23K +$12.1M
MS Trimmed -3K +$11.8M

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
WFC Sept. 30, 2025 1,120,217 $89,751,786 -1.7%
LRCX Dec. 31, 2025 601,195 $80,500,011 34.4%
UNM June 30, 2025 722,815 $58,880,510 11.8%
MRSH June 30, 2025 240,084 $58,587,699 -9.7%
DAL Dec. 31, 2025 883,264 $50,125,232 10.6%
HUM Dec. 31, 2025 187,935 $48,895,049 64.8%
MA June 30, 2026 87,598 $43,769,217 21.4%
BMY June 30, 2025 665,257 $40,574,024 32.8%
JNJ Sept. 30, 2025 227,513 $34,752,611 42.3%
BAC June 30, 2025 779,151 $32,513,971 6.8%
MU Sept. 30, 2025 49,200 $6,060,456 424.5%
MTB June 30, 2026 18,782 $3,882,615 -6.9%
JNJ June 30, 2026 15,202 $3,715,977 3.9%
CBOE June 30, 2025 12,725 $2,879,540
SCHW Dec. 31, 2025 27,099 $2,587,142 -9.3%
INTC Sept. 30, 2025 97,670 $2,185,855 159.2%
T June 30, 2025 74,818 $2,115,853 -27.7%
USB Dec. 31, 2025 43,117 $2,083,845 11.7%
LH Dec. 31, 2025 6,799 $1,951,721 31.1%
NVO March 31, 2026 26,125 $1,329,240 6.3%
VZ June 30, 2025 15,533 $704,577 3.2%
HPQ Sept. 30, 2025 23,802 $581,959 23.5%
HPE Sept. 30, 2025 23,802 $486,513 130.8%
DXC Sept. 30, 2025 2,045 $31,278 18.0%