Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +23.0%
S&P 500 total return (same window) +37.0%
Excess return -14.0%

Annualized: +18.0% · 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: 89.0% · Options excluded: 0.0%

Sector breakdown

04
Industrials 54.3%
Technology 6.5%
Healthcare 3.7%
Communication Services 3.3%
Financials 2.5%
Retail 2.1%
Consumer Discretionary 1.8%
Materials 1.6%
Energy 1.4%
Consumer products 0.4%
Utilities 0.2%
Other/Unmapped 22.1%

Full portfolio 168 positions

05
Type Streak 8Q trend
SMID Smith-Midland Corporation - Common Stock $52,899,451 31.63% 1,824,119 $-7,013,490 Down ×1
CSL Carlisle Companies Incorporated Common Stock $10,500,524 6.28% 28,947 $831,549 Down ×1
DOV Dover Corporation Common Stock $4,680,724 2.80% 20,870 $319,950 Down ×1
JPST JPMorgan Ultra-Short Income ETF $3,199,752 1.91% 63,274 $950,109 Up ×2
VOO Vanguard S&P 500 ETF $3,168,249 1.89% 4,613 $618,459 Up ×1
SHW Sherwin-Williams Company (The) Common Stock $2,582,400 1.54% 7,500 $178,275
GEV GE Vernova Inc. Common Stock $2,489,528 1.49% 2,119 $639,853
AAPL Apple Inc. - Common Stock $2,393,906 1.43% 8,273 $1,252,866 Up ×1
VIG Vanguard Div Appreciation ETF $2,215,440 1.32% 9,363 $161,203 Down ×1
CB Chubb Limited Common Stock $2,052,959 1.23% 6,025 $89,231
GLW Corning Incorporated Common Stock $2,048,549 1.22% 8,020 Up ×1
BIL SPDR SERIES TRUST $2,028,268 1.21% 22,133 $319,182 Up ×5
NVDA NVIDIA Corporation - Common Stock $1,884,848 1.13% 9,420 $334,258 Up ×1
SMH SMH $1,771,697 1.06% 2,701 $716,883 Down ×1
FIX Comfort Systems USA, Inc. Common Stock $1,709,380 1.02% 862 $-788,599 Down ×4
SPTS State Street SPDR Portfolio Short Term Treasury ETF $1,628,331 0.97% 56,130 $110,096 Up ×1
SPYM State Street SPDR Portfolio S&P 500 ETF $1,456,611 0.87% 16,575 $197,528 Up ×1
PROF Profound Medical Corp. - common stock $1,439,958 0.86% 216,535 $41,671 Up ×1
LLY Eli Lilly and Company Common Stock $1,439,316 0.86% 1,200 $335,592
DY Dycom Industries, Inc. Common Stock $1,369,643 0.82% 2,709 $487,356 Up ×1
GOOG Alphabet Inc. - Class C Capital Stock $1,333,552 0.80% 3,774 $318,894 Up ×1
GE GE Aerospace Common Stock $1,287,126 0.77% 3,444 $309,822
AMZN Amazon.com, Inc. - Common Stock $1,246,757 0.75% 5,231 $830,425 Up ×1
COST Costco Wholesale Corporation - Common Stock $1,198,337 0.72% 1,281 $-101,008 Down ×5
KEYS Keysight Technologies Inc. Common Stock $1,146,479 0.69% 3,275 $268,308 Up ×3
SPTI State Street SPDR Portfolio Intermediate Term Treasury ETF $1,140,919 0.68% 40,187 $-9,642 Up ×1
SCHD SCHWAB STRATEGIC TRUST $1,103,724 0.66% 34,807 $577,178 Up ×2
VTV Vanguard Morningstar Value ETF $1,100,453 0.66% 5,050 $104,626 Down ×2
ESGV VANGUARD WORLD FUND $1,074,318 0.64% 8,124 $162,237
MU Micron Technology, Inc. - Common Stock $1,063,666 0.64% 923 $558,916 Down ×1
ESOA Energy Services of America Corporation - Common Stock $1,060,316 0.63% 54,825 $793,120 Up ×1
JMST JPMorgan Ultra-Short Municipal Income ETF $1,035,351 0.62% 20,301 $406
BB BlackBerry Limited Common Stock $1,009,734 0.60% 74,315 $938,614 Up ×1
GLD SPDR Gold Shares $970,681 0.58% 2,635 $-165,285 Down ×1
MKL Markel Group Inc. Common Stock $941,351 0.56% 482 $47,480 Up ×5
LPTH LightPath Technologies, Inc. - Class A Common Stock $919,688 0.55% 56,250 $287,798 Down ×2
GOOGL Alphabet Inc. - Class A Common Stock $913,268 0.55% 2,554 $377,831 Up ×1
VUG Vanguard Morningstar Growth ETF $889,998 0.53% 10,332 $137,846 Up ×1
OUNZ VanEck Merk Gold ETF $829,685 0.50% 21,500 $-69,063 Up ×4
RKLB Rocket Lab Corporation - Common Stock $825,906 0.49% 8,125 $315,357 Up ×2
MSFT Microsoft Corporation - Common Stock $804,977 0.48% 2,158 $135,339 Up ×1
CSCO Cisco Systems, Inc. - Common Stock $799,433 0.48% 6,806 $278,882 Up ×1
BW Babcock & Wilcox Enterprises, Inc. Common Stock $794,888 0.48% 56,375 $-27,238 Up ×1
VB Vanguard Morningstar Small-Cap ETF $790,234 0.47% 2,607 $107,409
WMT Walmart Inc. - Common Stock $783,075 0.47% 6,944 $18,353 Up ×1
VSGX Vanguard ESG International Stock ETF $778,195 0.47% 9,451 $100,275
IGPT Invesco AI and Next Gen Software ETF $778,148 0.47% 7,475 Up ×1
META Meta Platforms, Inc. - Class A Common Stock $769,454 0.46% 1,366 $16,531 Up ×1
TGEN CUSIP: 87876P201 $755,856 0.45% 144,840 $502,416 Up ×1
GNR State Street SPDR S&P Global Natural Resources ETF $726,948 0.43% 10,800 $178,123 Up ×1
TSLA Tesla, Inc. - Common Stock $715,020 0.43% 1,700 $36,576 Down ×3
WGS GeneDx Holdings Corp. - Class A Common Stock $689,933 0.41% 10,050 $-314,532 Down ×1
AMD Advanced Micro Devices, Inc. - Common Stock $656,428 0.39% 1,130
EME EMCOR Group, Inc. Common Stock $643,157 0.38% 775 $89,424 Up ×1
JNJ Johnson & Johnson Common Stock $584,362 0.35% 2,301 $71,915 Up ×4
JEPQ JPMorgan Nasdaq Equity Premium Income ETF $554,448 0.33% 9,021 $281,562 Up ×1
QXO QXO, Inc. Common Stock $550,627 0.33% 31,865 Up ×1
PLTR Palantir Technologies Inc. - Class A Common Stock $548,349 0.33% 4,700 $228,288 Up ×3
FEIM Frequency Electronics, Inc. - Common Stock $540,753 0.32% 8,150 $-725,747 Down ×1
FTAI FTAI Aviation Ltd. - Common Stock $527,534 0.32% 1,950 Up ×1
UBER Uber Technologies, Inc. Common Stock $517,026 0.31% 7,165
SEI Solaris Energy Infrastructure, Inc. Class A Common Stock $516,956 0.31% 6,425 $153,879
SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF $515,483 0.31% 7,630 $78,735 Up ×1
XLY XLY $507,473 0.30% 4,327 $-118,858 Down ×2
CTRI Centuri Holdings, Inc. Common Stock $499,716 0.30% 16,525 Up ×1
IVV iShares Trust $494,266 0.30% 660 $280,150 Up ×1
SNDK Sandisk Corporation - Common Stock $493,399 0.30% 217 $147,139 Down ×1
CX Cemex, S.A.B. de C.V. Sponsored ADR $492,000 0.29% 41,000 $103,040 Up ×1
SPIN State Street US Equity Premium Income ETF $479,339 0.29% 14,897 $177,422 Up ×3
SHIM Shimmick Corporation - Common Stock $475,280 0.28% 104,000 $14,695 Down ×1
NVT nVent Electric plc Ordinary Shares $474,908 0.28% 2,800 $143,724
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $457,884 0.27% 600 $223,638
VICR Vicor Corporation - Common Stock $455,736 0.27% 1,200 Up ×1
DIA State Street SPDR Dow Jones Industrial Average ETF Trust $444,155 0.27% 850 Up ×1
TPC Tutor Perini Corporation Common Stock $442,646 0.26% 5,335 $-184,656 Down ×2
VIK Viking Holdings Ltd Ordinary Shares $416,063 0.25% 3,975 $123,980
PG Procter & Gamble Company (The) Common Stock $413,965 0.25% 2,823 $10,544 Up ×1
NVO Novo Nordisk A/S Common Stock $409,887 0.25% 8,550 Up ×1
VEA Vanguard FTSE Developed Markets ETF $405,141 0.24% 5,686 $-71,251 Down ×1
ETN Eaton Corporation, PLC Ordinary Shares $404,814 0.24% 950 $65,027
VIOO Vanguard S&P Small-Cap 600 ETF $402,305 0.24% 2,925 $152,550 Up ×1
ELVA Electrovaya Inc. - Common Shares $398,475 0.24% 37,950 $101,901 Up ×1
HYBL State Street Blackstone High Income ETF $385,710 0.23% 13,800
FLOT iShares Floating Rate Bond ETF $383,201 0.23% 7,506 $1,138 Up ×1
MTZ MasTec, Inc. Common Stock $380,695 0.23% 915 $62,172 Down ×1
BLDR Builders FirstSource, Inc. Common Stock $380,290 0.23% 4,250 Up ×1
XLK SELECT SECTOR SPDR TRUST $371,514 0.22% 1,950 $45,909 Down ×2
TEVA Teva Pharmaceutical Industries Limited American Depositary Shares $369,292 0.22% 10,900 $56,044 Up ×1
VYMI Vanguard International High Dividend Yield ETF $368,250 0.22% 3,750 $14,850
V Visa Inc. $367,792 0.22% 1,072 $-11,519 Down ×2
VXF Vanguard Extended Market ETF $367,345 0.22% 1,492 $60,291
Unknown issuer (CUSIP: 84615Q103) $356,243 0.21% 2,085 Up ×1
CVS CVS Health Corporation Common Stock $351,730 0.21% 3,400 Up ×1
NXDR Nextdoor Holdings, Inc. Class A Common Stock $344,776 0.21% 151,643 $276,956 Up ×1
VUSB Vanguard Ultra-Short Bond ETF $342,158 0.20% 6,873 Up ×1
Unknown issuer (CUSIP: 86723E104) $339,077 0.20% 15,050 Up ×1
XLC SELECT SECTOR SPDR TRUST $338,745 0.20% 3,162 $-234,069 Down ×1
LNG Cheniere Energy, Inc. Common Stock $328,639 0.20% 1,375 $-61,531
SPY SPY $328,579 0.20% 440 $42,429
INTC Intel Corporation - Common Stock $321,149 0.19% 2,300 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
BIL $2,028,268 1.21% up ×5
KEYS $1,146,479 0.69% up ×3
MKL $941,351 0.56% up ×5
OUNZ $829,685 0.50% up ×4
JNJ $584,362 0.35% up ×4
PLTR $548,349 0.33% up ×3
SPIN $479,339 0.29% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
GLW $2,048,549 8,020 1.22%
IGPT $778,148 7,475 0.47%
AMD $656,428 1,130 0.39%
QXO $550,627 31,865 0.33%
FTAI $527,534 1,950 0.32%
UBER $517,026 7,165 0.31%
CTRI $499,716 16,525 0.30%
VICR $455,736 1,200 0.27%
DIA $444,155 850 0.27%
NVO $409,887 8,550 0.25%
HYBL $385,710 13,800 0.23%
BLDR $380,290 4,250 0.23%
Unknown issuer (CUSIP: 84615Q103) $356,243 2,085 0.21%
CVS $351,730 3,400 0.21%
VUSB $342,158 6,873 0.20%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SMID Trimmed -18K -$7.0M
AAPL Bought more +4K +$1.3M
JPST Bought more +19K +$950K
CSL Trimmed -35 +$832K
AMZN Bought more +3K +$830K
ESOA Bought more +34K +$793K
FIX Trimmed -949 -$789K
FEIM Trimmed -20K -$726K
SMH Trimmed -50 +$717K
GEV Price move only +0 +$640K

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
HYBL March 31, 2026 44,027 $1,252,142
COF March 31, 2026 4,700 $1,139,092 6.5%
TJX June 30, 2026 6,115 $976,566 -11.9%
PL June 30, 2026 23,050 $644,248 -47.7%
IBIT March 31, 2026 12,922 $641,577
CLS March 31, 2026 2,100 $620,781 36.1%
TMUS June 30, 2025 2,280 $608,099 -31.1%
IREN Dec. 31, 2025 10,890 $511,068 6.9%
VRT March 31, 2026 3,140 $508,718 0.7%
GILT June 30, 2026 33,815 $507,901 -26.7%
CSCO Sept. 30, 2025 6,784 $470,674 64.1%
SFM Sept. 30, 2025 2,850 $469,224 -40.8%
CRDO March 31, 2026 3,225 $464,045 122.4%
NFLX June 30, 2026 4,720 $453,828 -6.5%
COF June 30, 2025 2,524 $452,550 -8.6%
SHLD June 30, 2026 6,031 $427,207
JEPI March 31, 2026 7,050 $403,542
RING June 30, 2026 5,050 $398,849
RDDT Sept. 30, 2025 2,550 $383,954 -35.0%
NX March 31, 2026 24,810 $381,578 6.5%
VCLT March 31, 2026 5,000 $379,250
QQQ March 31, 2026 606 $372,057 29.0%
PPIH June 30, 2026 12,305 $366,812 15.8%
UBER March 31, 2026 4,435 $362,384 -3.4%
NX Sept. 30, 2025 19,019 $359,468 34.6%
PHYS June 30, 2025 14,700 $353,682
TKO March 31, 2026 1,685 $352,165 -13.2%
GLDD March 31, 2026 26,025 $341,448 No longer tracked
TSEM March 31, 2026 2,900 $340,518 37.9%
HOOD March 31, 2026 3,000 $339,300 65.1%
ORCL March 31, 2026 1,711 $333,191 -1.0%
CDNA Sept. 30, 2025 16,900 $330,226 371.7%
D Sept. 30, 2025 5,628 $318,132 -0.6%
AAOI June 30, 2026 3,659 $309,515 -22.8%
RDNT March 31, 2026 4,300 $306,805 26.0%
IBM Dec. 31, 2025 1,047 $295,283 -25.3%
XLV June 30, 2026 2,014 $295,273 4.7%
UUUU Dec. 31, 2025 19,200 $294,720 No longer tracked
GS March 31, 2026 335 $294,664 5.2%
RDDT March 31, 2026 1,275 $293,084 11.0%
XLF March 31, 2026 5,339 $292,417 8.3%
NKE Dec. 31, 2025 4,175 $291,123 -48.1%
SBUX March 31, 2026 3,406 $286,819 4.6%
FTK June 30, 2026 16,050 $272,369 32.1%
IONQ Dec. 31, 2025 4,375 $269,063 -4.1%
CRM March 31, 2026 1,000 $264,910 24.0%
MSTR June 30, 2025 910 $261,296 -59.5%
CCJ Dec. 31, 2025 3,075 $257,870 -5.7%
MYO June 30, 2025 53,600 $257,816 No longer tracked
FBTC March 31, 2026 3,315 $252,702
DIS Dec. 31, 2025 2,155 $246,748 -10.5%
NOC June 30, 2026 361 $246,289 -6.1%
TSSI Dec. 31, 2025 13,500 $244,485 42.9%
CAVA Sept. 30, 2025 2,900 $244,267 -12.6%
TOTL Sept. 30, 2025 6,075 $243,668
VSAT June 30, 2026 5,250 $240,450 -20.6%
ET Dec. 31, 2025 14,000 $240,240 No longer tracked
SLV March 31, 2026 3,661 $235,842 -18.8%
PSIX Dec. 31, 2025 2,400 $235,728 -21.5%
CLF Dec. 31, 2025 19,200 $234,240 -8.7%
CDNS Dec. 31, 2025 664 $233,237 14.8%
SDY Sept. 30, 2025 1,713 $232,505
CLSK Dec. 31, 2025 16,000 $232,000 22.1%
LUNR Sept. 30, 2025 21,280 $231,314 35.2%
YSS June 30, 2026 10,350 $229,460 -66.0%
BRK-B (filed as BRKB) Sept. 30, 2025 471 $228,798 No longer tracked
AIQ June 30, 2026 4,900 $228,683
ROKU June 30, 2025 3,150 $221,886 72.8%
AIG Sept. 30, 2025 2,575 $220,394 -4.7%
FLY June 30, 2026 7,735 $220,215 -23.6%
RING Sept. 30, 2025 5,027 $220,069
XME June 30, 2026 2,001 $216,145 -1.1%
RMCF June 30, 2026 95,555 $214,999 -2.2%
CTRA June 30, 2025 7,360 $212,704 No longer tracked
BWXT Dec. 31, 2025 1,150 $212,026 -20.0%
AVGO June 30, 2025 1,255 $210,125 29.8%
AMD March 31, 2026 975 $208,806 208.7%
IWM June 30, 2026 835 $207,080 -6.6%
SN Sept. 30, 2025 2,075 $205,404 78.6%
GEHC June 30, 2025 2,536 $204,681 -13.0%
GEHC March 31, 2026 2,457 $201,523 -9.5%
ET June 30, 2025 10,500 $195,195 No longer tracked
SIDU March 31, 2026 61,900 $194,366 -24.8%
PATH Dec. 31, 2025 14,370 $194,112 -20.3%
RIG June 30, 2026 27,950 $185,309 10.7%
ADTN June 30, 2025 18,675 $162,846 -22.1%
ADTN June 30, 2026 11,865 $149,262 -49.7%
CIFR Dec. 31, 2025 11,450 $144,156 2.9%
NOK June 30, 2025 26,600 $140,182 98.6%
MRAM Dec. 31, 2025 14,050 $130,806 97.4%
CVU June 30, 2026 31,375 $122,990 No longer tracked
ASYS Dec. 31, 2025 13,250 $122,695 39.2%
AEE June 30, 2025 10,150 $122,612 3.8%
PBI March 31, 2026 10,811 $114,272 53.3%
JOBY Sept. 30, 2025 10,000 $105,500 -63.7%
WRAP Sept. 30, 2025 66,150 $102,960 -33.2%
PESI June 30, 2025 13,440 $97,709 45.7%
ARRY March 31, 2026 10,515 $96,948 -45.8%
VERI March 31, 2026 20,400 $94,860 -61.5%
ICAD June 30, 2025 45,554 $93,841 No longer tracked
TRAK June 30, 2026 11,600 $88,160 -10.1%
ZDGE June 30, 2025 36,110 $84,136 No longer tracked
GNT March 31, 2026 11,190 $83,362 2.1%
SMRT Dec. 31, 2025 53,999 $76,139 -39.6%
ASST March 31, 2026 100,642 $74,126 208.1%
BFLY Sept. 30, 2025 35,070 $71,750 372.5%
JELD Dec. 31, 2025 14,450 $70,950 -26.6%
RR Dec. 31, 2025 15,475 $68,476 -47.1%
APPS March 31, 2026 13,350 $66,750 293.8%
LITS Dec. 31, 2025 24,971 $60,325 6.8%
BTCS Dec. 31, 2025 12,300 $59,409 -43.2%
OESX (filed as OESXXXXX) Sept. 30, 2025 96,905 $58,153 237.8%
NTWK Dec. 31, 2025 11,472 $54,492 104.6%
INDO June 30, 2026 15,300 $52,632 No longer tracked
SYNX Sept. 30, 2025 29,999 $51,598 No longer tracked
SLI March 31, 2026 11,250 $50,288 No longer tracked
IRIX Sept. 30, 2025 56,726 $50,027 -38.6%
APPS June 30, 2025 17,425 $47,309 92.2%
USEG Sept. 30, 2025 33,408 $46,771 No longer tracked
CVU Sept. 30, 2025 12,833 $44,916 No longer tracked
VFF March 31, 2026 11,800 $43,070 0.4%
LPRO Dec. 31, 2025 19,700 $42,145 No longer tracked
SLND March 31, 2026 12,500 $41,500 No longer tracked
NPWR March 31, 2026 18,111 $41,293 -15.1%
PODC Sept. 30, 2025 15,777 $38,223 40.5%
SIF Sept. 30, 2025 10,222 $38,128 No longer tracked
LIDR Sept. 30, 2025 33,331 $34,331 -55.0%
UROY Sept. 30, 2025 13,044 $32,610 -7.4%
TLRY Dec. 31, 2025 13,277 $29,744 -58.3%
BTBT Sept. 30, 2025 11,140 $28,081 -47.5%
PZG March 31, 2026 21,055 $26,529 No longer tracked
SOHO March 31, 2026 12,000 $25,800 No longer tracked
GROY June 30, 2025 17,000 $24,480 No longer tracked
LCID (filed as LCIDXXXX) June 30, 2025 10,000 $24,200 -80.5%
GPRO March 31, 2026 16,750 $23,618 76.0%
AMPG June 30, 2026 12,000 $22,800 -57.3%
THM June 30, 2025 36,000 $22,752 No longer tracked
INM Dec. 31, 2025 10,249 $22,445 26.0%
BRN Sept. 30, 2025 17,777 $20,088 No longer tracked
KLTR March 31, 2026 12,000 $19,680 7.4%
GAME Dec. 31, 2025 26,254 $17,821 3.4%
DCGO Sept. 30, 2025 11,000 $17,270 -72.5%
VGZ June 30, 2025 20,000 $16,560 No longer tracked
AWRE June 30, 2025 10,000 $15,800 -40.7%
INTZ June 30, 2025 12,900 $14,448 -67.9%
XPL March 31, 2026 20,333 $14,168 No longer tracked
BAER June 30, 2025 12,332 $13,935 -64.9%
TRX March 31, 2026 14,222 $13,097 No longer tracked
CDLX March 31, 2026 11,321 $12,904 142.9%
EONR Sept. 30, 2025 25,001 $8,640 No longer tracked
PZG June 30, 2025 16,000 $5,920 No longer tracked
IGC Dec. 31, 2025 10,000 $4,169 No longer tracked
MTEKW Sept. 30, 2025 13,105 $3,932
AMPGW March 31, 2026 32,784 $2,626 No longer tracked
CMBM June 30, 2026 13,500 $2,025 No longer tracked
BAERW Sept. 30, 2025 20,000 $1,550
HOVRW June 30, 2025 20,000 $682
HYMCW June 30, 2025 40,000 $100 No longer tracked