Performance vs S&P 500

03
Tracked Q1 2025–Q3 2026 +19.6%
S&P 500 total return (same window) +39.9%
Excess return -20.3%

Annualized: +12.7% · S&P 500: +25.1%

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: 90.0% · Options excluded: 0.0%

Sector breakdown

04
Technology 20.6%
Industrials 10.6%
Financials 8.8%
Healthcare 7.8%
Retail 6.7%
Communication Services 6.4%
Energy 3.3%
Consumer Discretionary 3.2%
Consumer Staples 2.5%
Utilities 1.4%
Materials 0.5%
Consumer products 0.1%
Other/Unmapped 28.0%

Full portfolio 114 positions

05
Type Streak 8Q trend
AMD Advanced Micro Devices, Inc. - Common Stock $10,557,986 4.87% 17,258 $-661,129 Down ×1
AAPL Apple Inc. - Common Stock $10,304,778 4.75% 30,943 $1,348,306 Down ×1
VEU Vanguard FTSE All World Ex US ETF $10,102,596 4.66% 121,762 $3,887,339 Up ×4
VIGI Vanguard International Dividend Appreciation ETF $10,058,745 4.64% 106,532 $-1,075,151 Down ×2
XLK SELECT SECTOR SPDR TRUST $7,775,149 3.58% 39,720 $7,562,529 Up ×1
MSFT Microsoft Corporation - Common Stock $7,048,275 3.25% 13,742 $1,902,766 Down ×1
VLO Valero Energy Corporation Common Stock $6,995,755 3.22% 18,048 $2,133,960 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $6,834,778 3.15% 19,864 $-468,835 Down ×1
KLAC KLA Corporation - Common Stock $6,190,475 2.85% 31,757 $-3,873,203 Down ×1
AMZN Amazon.com, Inc. - Common Stock $4,819,553 2.22% 19,344 $2,292,434 Up ×1
SPMD SPDR SERIES TRUST $4,696,599 2.16% 74,502 $254,154 Up ×6
V Visa Inc. $4,653,507 2.15% 12,951 $256,431 Up ×4
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $4,624,919 2.13% 9,288 $100,393 Up ×2
MCK McKesson Corporation Common Stock $4,562,687 2.10% 5,344 $547,405 Up ×4
META Meta Platforms, Inc. - Class A Common Stock $4,439,252 2.05% 6,122 $2,833,026 Up ×1
MAR Marriott International - Class A Common Stock $4,057,603 1.87% 11,408 $-64,405 Up ×6
WMT Walmart Inc. - Common Stock $3,984,064 1.84% 38,338 $-245,590 Up ×3
VOO Vanguard S&P 500 ETF $3,837,821 1.77% 5,476 $631,552 Up ×2
HCA HCA Healthcare, Inc. Common Stock $3,522,143 1.62% 8,254 $390,118 Up ×4
Unknown issuer (CUSIP: 30233Q108) $3,309,333 1.53% 20,334 $2,800,939 Up ×1
GILD Gilead Sciences, Inc. - Common Stock $3,309,332 1.53% 22,203 $621,062 Up ×2
EME EMCOR Group, Inc. Common Stock $3,302,182 1.52% 4,377 $-287,958 Up ×4
ETN Eaton Corporation, PLC Ordinary Shares $3,123,403 1.44% 7,269 $107,326 Up ×6
DELL Dell Technologies Inc. Class C Common Stock $3,048,264 1.41% 5,666 Up ×1
AJG Arthur J. Gallagher & Co. Common Stock $2,940,862 1.36% 12,892 $88,160 Up ×6
NEE NextEra Energy, Inc. Common Stock $2,910,555 1.34% 38,428 $-294,357 Up ×6
CSL Carlisle Companies Incorporated Common Stock $2,893,487 1.33% 8,981 $-273,326 Up ×4
PM Philip Morris International Inc Common Stock $2,875,087 1.33% 15,067 $2,551,571 Up ×6
UNH UnitedHealth Group Incorporated Common Stock (DE) $2,656,522 1.22% 7,237 $-261,297 Up ×5
AXP American Express Company Common Stock $2,518,684 1.16% 8,282 $-164,455 Up ×6
EXPE Expedia Group, Inc. - Common Stock $2,468,334 1.14% 9,372 $171,401 Up ×2
BR Broadridge Financial Solutions, Inc. Common Stock $2,430,881 1.12% 15,089 $529,529 Up ×4
LOW Lowe's Companies, Inc. Common Stock $2,397,337 1.11% 13,009 $-326,432 Up ×4
PEP PepsiCo, Inc. - Common Stock $2,382,723 1.10% 18,803
GOOG Alphabet Inc. - Class C Capital Stock $2,206,568 1.02% 6,476 $-142,143 Down ×1
CPRT Copart, Inc. - Common Stock $2,107,001 0.97% 77,236 $109,570 Up ×2
IBM International Business Machines Corporation Common Stock $2,064,217 0.95% 9,386 $-451,301 Up ×6
PTC PTC Inc. - Common Stock $2,056,996 0.95% 14,661 $502,811 Up ×4
JPM JP Morgan Chase & Co. Common Stock $1,931,018 0.89% 5,837 $-622 Down ×1
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF $1,843,211 0.85% 35,979 $-142,700 Down ×4
VTIP Vanguard Short-Term Inflation-Protected Securities Index Fund ETF Shares $1,741,332 0.80% 35,379 $-46,820 Down ×1
SCHX SCHWAB STRATEGIC TRUST $1,644,200 0.76% 54,807 $22,693 Down ×1
LECO Lincoln Electric Holdings, Inc. - Common Shares $1,459,159 0.67% 5,515 $-5,129
PH Parker-Hannifin Corporation Common Stock $1,446,013 0.67% 1,513 $-176,417 Down ×1
IJR iShares Trust $1,347,562 0.62% 9,906 $-145,773 Down ×2
WSM Williams-Sonoma, Inc. Common Stock (DE) $1,267,419 0.58% 5,560 $-198,618 Down ×6
VCIT Vanguard Intermediate-Term Corporate Bond ETF $1,159,827 0.53% 14,811 $-110,480 Down ×5
NVDA NVIDIA Corporation - Common Stock $1,129,965 0.52% 4,948 $199,975 Up ×1
QQQ Invesco QQQ Trust, Series 1 $1,107,638 0.51% 1,497 $4,762 Down ×2
VTI Vanguard Morningstar Total Stock Market ETF $1,065,396 0.49% 2,847 $22,320 Up ×4
LLY Eli Lilly and Company Common Stock $1,037,752 0.48% 897 $-75,040 Down ×2
RSP Invesco Exchange-Traded Fund Trust $1,017,565 0.47% 4,892 $-7,042 Up ×3
SPIB SPDR SERIES TRUST $978,523 0.45% 30,314 $-24,791 Up ×4
IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF $946,041 0.44% 18,789 $-78,742 Down ×2
COST Costco Wholesale Corporation - Common Stock $911,111 0.42% 1,001 $-71,574 Down ×6
MA Mastercard Incorporated Common Stock $892,243 0.41% 1,618 $58,858 Down ×1
MU Micron Technology, Inc. - Common Stock $789,247 0.36% 741 $523,815 Up ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $774,611 0.36% 1,698 $64,942 Up ×2
JNJ Johnson & Johnson Common Stock $753,053 0.35% 2,845 $-16,135 Down ×1
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $747,005 0.34% 1 $-1,845
IJH iShares Trust $745,511 0.34% 10,362 $-80,818 Down ×1
EMR Emerson Electric Company Common Stock $724,075 0.33% 4,668 $49,675 Down ×1
SPY SPY $703,074 0.32% 922 $9,634 Down ×1
SPSB SPDR SERIES TRUST $699,867 0.32% 23,652 $86,665 Up ×3
ABBV AbbVie Inc. Common Stock $629,021 0.29% 2,405 $17,634 Down ×1
LMT Lockheed Martin Corporation Common Stock $622,775 0.29% 1,223 $-14,480 Down ×6
GD General Dynamics Corporation Common Stock $588,738 0.27% 1,774 $-78,117 Down ×1
DOV Dover Corporation Common Stock $583,737 0.27% 3,121 $-216,389 Down ×5
SHW Sherwin-Williams Company (The) Common Stock $581,070 0.27% 1,797 $-38,541 Down ×6
DVY iShares Select Dividend ETF $532,861 0.25% 3,504 Up ×1
CB Chubb Limited Common Stock $521,671 0.24% 1,604 $-51,115 Down ×5
IVV iShares Core S&P 500 ETF $515,651 0.24% 673 $105,911 Up ×1
RTX RTX Corporation Common Stock $515,488 0.24% 2,777 $-11,256 Up ×1
HD Home Depot, Inc. (The) Common Stock $513,057 0.24% 1,803 $-191,592 Down ×2
VIG Vanguard Div Appreciation ETF $504,718 0.23% 2,163 $-18,276 Down ×2
VO Vanguard Morningstar Mid-Cap ETF $489,960 0.23% 6,248 $-11,860 Up ×6
DFAI Dimensional ETF Trust $484,640 0.22% 11,698 $-11,477 Down ×4
BOOT Boot Barn Holdings, Inc. Common Stock $476,941 0.22% 3,959 $-364,121 Down ×6
VGT Vanguard Information Tech ETF $466,236 0.21% 3,710 $22,817
TT Trane Technologies plc $437,517 0.20% 968 $-67,887 Down ×1
VCSH Vanguard Short-Term Corporate Bond ETF $431,240 0.20% 5,582 $-93,014 Down ×2
SCHM SCHWAB STRATEGIC TRUST $422,894 0.19% 12,431 $-33,361 Up ×1
TIP iShares TIPS Bond ETF $401,849 0.19% 3,862 $-59,470 Down ×6
AMGN Amgen Inc. - Common Stock $400,894 0.18% 951 $37,167 Down ×1
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares $385,021 0.18% 3,206 $-22,645 Down ×2
SPSM SPDR SERIES TRUST $381,747 0.18% 7,222 $-21,992 Up ×3
CAT Caterpillar, Inc. Common Stock $337,632 0.16% 416 $-131,375 Down ×2
MCD McDonald's Corporation Common Stock $327,245 0.15% 1,417 $-57,455 Down ×5
WM Waste Management, Inc. Common Stock $319,860 0.15% 1,569 $-32,290 Down ×2
ITW Illinois Tool Works Inc. Common Stock $314,003 0.14% 1,220 $-16,098
SPGI S&P Global Inc. Common Stock $308,374 0.14% 782 $-34,900 Down ×1
ADI Analog Devices, Inc. - Common Stock $299,913 0.14% 756 $-7,894 Down ×1
VYMI Vanguard International High Dividend Yield ETF $277,493 0.13% 2,744 Up ×1
BE Bloom Energy Corporation Class A Common Stock $276,980 0.13% 1,000 $-25,720
ESE ESCO Technologies Inc. Common Stock $273,594 0.13% 1,032 $-100,949 Down ×2
VB Vanguard Morningstar Small-Cap ETF $272,390 0.13% 957 $-17,107 Up ×4
NSC Norfolk Southern Corporation Common Stock $269,128 0.12% 871 $-6,400 Down ×1
APD Air Products and Chemicals, Inc. Common Stock $266,397 0.12% 957 $-15,634 Down ×5
NOC Northrop Grumman Corporation Common Stock $264,662 0.12% 547 $-48,172 Down ×5
CVX Chevron Corporation Common Stock $253,958 0.12% 1,244 $48,080 Up ×2

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
VEU $10,102,596 4.66% up ×4
SPMD $4,696,599 2.16% up ×6
V $4,653,507 2.15% up ×4
MCK $4,562,687 2.10% up ×4
MAR $4,057,603 1.87% up ×6
WMT $3,984,064 1.84% up ×3
HCA $3,522,143 1.62% up ×4
EME $3,302,182 1.52% up ×4
ETN $3,123,403 1.44% up ×6
AJG $2,940,862 1.36% up ×6
NEE $2,910,555 1.34% up ×6
CSL $2,893,487 1.33% up ×4
PM $2,875,087 1.33% up ×6
UNH $2,656,522 1.22% up ×5
AXP $2,518,684 1.16% up ×6

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
DELL $3,048,264 5,666 1.41%
PEP $2,382,723 18,803 1.10%
DVY $532,861 3,504 0.25%
VYMI $277,493 2,744 0.13%
KO $206,779 2,402 0.10%
CSCO $203,341 1,889 0.09%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
VEU Bought more +48K +$3.9M
KLAC Trimmed -2K -$3.9M
META Bought more +3K +$2.8M
AMZN Bought more +9K +$2.3M
VLO Trimmed -620 +$2.1M
MSFT Trimmed -52 +$1.9M
AAPL Trimmed -10 +$1.3M
VIGI Trimmed -13K -$1.1M
AMD Trimmed -2K -$661K
VOO Bought more +808 +$632K

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
LII Sept. 30, 2026 5,144 $2,947,284 2.7%
TMO Sept. 30, 2026 5,325 $2,669,672 3.3%
SYK Sept. 30, 2026 8,185 $2,577,050 10.1%
BJ Sept. 30, 2026 29,467 $2,570,112 13.4%
PANW March 31, 2026 12,840 $2,365,128 151.0%
FCN Sept. 30, 2026 15,171 $2,260,631 16.7%
CP March 31, 2026 28,870 $2,125,698 14.8%
TSCO Sept. 30, 2026 58,107 $1,836,751 3.0%
BAH Sept. 30, 2026 29,836 $1,810,147 19.5%
LULU Sept. 30, 2026 10,656 $1,216,702 7.9%
INTU Sept. 30, 2026 4,411 $1,151,352 18.7%
XOM June 30, 2026 3,796 $644,088 31.9%
HON June 30, 2026 1,773 $400,705 -3.0%
AMAT Sept. 30, 2026 491 $354,993 -20.1%
IBIT Dec. 31, 2025 4,544 $295,360 -8.3%
GLW Sept. 30, 2026 1,155 $295,022 -17.4%
TSLA Sept. 30, 2026 636 $267,389 14.4%
IVE June 30, 2025 1,319 $251,375
DFSV Sept. 30, 2026 6,476 $251,192
AVGO Sept. 30, 2026 644 $243,389 -1.5%
BILS June 30, 2025 2,416 $240,368
ABT March 31, 2026 1,902 $238,319 0.5%
DFAS Sept. 30, 2025 3,719 $236,936
FIX Sept. 30, 2026 119 $235,833 -22.6%
ADP March 31, 2026 915 $235,295 41.5%
PEP June 30, 2026 1,515 $235,291 -1.8%
BIL June 30, 2025 2,492 $228,591
TRV Sept. 30, 2025 848 $226,979 41.7%
AVGO March 31, 2026 655 $226,735 11.8%
LIN Dec. 31, 2025 474 $225,144 18.7%
CVX Sept. 30, 2025 1,571 $225,012 47.5%
PWR Sept. 30, 2026 310 $223,212 -9.6%
FDS Sept. 30, 2025 494 $220,956 8.6%
MS Sept. 30, 2026 1,057 $220,955 -0.3%
MRK Sept. 30, 2025 2,785 $220,456 69.1%
CTAS Sept. 30, 2025 974 $217,075 3.8%
IEFA Sept. 30, 2026 2,229 $215,277 -0.9%
IWY March 31, 2026 767 $212,413
SBUX June 30, 2025 2,100 $206,021 11.9%
ADI Sept. 30, 2025 850 $202,317 74.0%
SCHF Sept. 30, 2026 7,259 $201,080 1.6%