Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +37.8%
S&P 500 total return (same window) +37.0%
Excess return +0.8%

Annualized: +29.2% · 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: 90.8% · Options excluded: 0.0%

Sector breakdown

04
Technology 24.4%
Communication Services 21.4%
Industrials 17.9%
Retail 11.9%
Financials 9.9%
Materials 4.3%
Energy 1.9%
Other/Unmapped 8.2%

Full portfolio 24 positions

05
Type Streak 8Q trend
AMZN Amazon.com, Inc. - Common Stock $19,186,370 11.86% 80,500 $2,420,635
GOOGL Alphabet Inc. - Class A Common Stock $13,875,605 8.58% 38,827 $-3,579,287 Down ×1
LRCX Lam Research Corporation - Common Stock $13,563,229 8.38% 31,300 $7,153,429 Up ×1
CSX CSX Corporation - Common Stock $12,238,975 7.56% 257,500 $1,668,600
OC Owens Corning Inc Common Stock New $11,445,120 7.07% 72,000 $4,951,920 Up ×1
WBD Warner Bros. Discovery, Inc. - Series A Common Stock $10,370,740 6.41% 389,000 Up ×1
WULF TeraWulf Inc. - Common Stock $8,837,660 5.46% 357,800 $3,674,606
AD Array Digital Infrastructure, Inc. Common Shares $7,364,950 4.55% 203,115 $300,224 Up ×2
BANC Banc of California, Inc. Common Stock $7,157,446 4.42% 350,340 $998,469
FLG Flagstar Bank, N.A. Common Stock $6,723,000 4.16% 450,000 $796,500
Unknown issuer (CUSIP: 438516205) $6,677,818 4.13% 29,825 Up ×1
Unknown issuer (CUSIP: 43849R105) $6,593,711 4.08% 29,825 Up ×1
SNDK Sandisk Corporation - Common Stock $5,684,325 3.51% 2,500 Up ×1
ECVT Ecovyst Inc. Common Stock $4,980,000 3.08% 400,000 $800,500 Up ×1
MU Micron Technology, Inc. - Common Stock $4,011,158 2.48% 3,475 Up ×1
FORM FormFactor, Inc. - Common Stock $3,918,285 2.42% 24,500 Up ×1
ASX ASE Technology Holding Co., Ltd. American Depositary Shares (each representing Two Common Shares) $3,496,800 2.16% 77,500 Up ×1
SM SM Energy Company Common Stock $3,132,000 1.94% 120,000 $-4,351,200 Down ×1
SATS EchoStar Corporation - Common stock $3,045,000 1.88% 30,000 $-15,100,850 Down ×2
UBER Uber Technologies, Inc. Common Stock $2,807,024 1.73% 38,900 $-5,464,926 Down ×1
GBX Greenbrier Companies, Inc. (The) Common Stock $2,534,258 1.57% 51,709 $-188,221
OLN Olin Corporation Common Stock $1,982,000 1.22% 100,000 $-4,112,650 Down ×1
RKT Rocket Companies, Inc. Class A Common Stock $1,316,700 0.81% 83,600 $-2,245,800 Down ×2
MCO Moody's Corporation Common Stock $860,548 0.53% 1,900

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
WBD $10,370,740 389,000 6.41%
Unknown issuer (CUSIP: 438516205) $6,677,818 29,825 4.13%
Unknown issuer (CUSIP: 43849R105) $6,593,711 29,825 4.08%
SNDK $5,684,325 2,500 3.51%
MU $4,011,158 3,475 2.48%
FORM $3,918,285 24,500 2.42%
ASX $3,496,800 77,500 2.16%
MCO $860,548 1,900 0.53%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
LRCX Bought more +1K +$7.2M
UBER Trimmed -76K -$5.5M
OC Bought more +12K +$5.0M
SM Trimmed -120K -$4.4M
OLN Trimmed -105K -$4.1M
WULF Price move only +0 +$3.7M
GOOGL Trimmed -22K -$3.6M
AMZN Price move only +0 +$2.4M
RKT Trimmed -166K -$2.2M
CSX Price move only +0 +$1.7M

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
IREN Dec. 31, 2025 220,000 $10,324,600 10.6%
MSFT June 30, 2026 25,000 $9,254,250 38.7%
META June 30, 2026 15,280 $8,742,146 29.3%
COOP Dec. 31, 2025 37,700 $7,946,783 No longer tracked
HON June 30, 2026 35,000 $7,911,050 -4.4%
T June 30, 2026 254,700 $7,383,753 17.4%
CIFR Dec. 31, 2025 550,000 $6,924,500 6.4%
JEPQ June 30, 2025 129,350 $6,697,743
JHX (filed as JHXXXXX) Sept. 30, 2025 245,000 $6,588,050 30.1%
GLD June 30, 2026 15,000 $6,454,350
LLY June 30, 2025 7,360 $6,078,698 46.6%
TMUS June 30, 2025 22,058 $5,883,089 -31.3%
CORZ Dec. 31, 2025 307,000 $5,507,580 13.0%
BRK-B (filed as BRKB) Dec. 31, 2025 10,830 $5,444,674 No longer tracked
HUT Dec. 31, 2025 140,000 $4,873,400 95.1%
KNTK March 31, 2026 120,000 $4,326,000 8.5%
RACE June 30, 2025 10,100 $4,321,588 -20.9%
CHTR Sept. 30, 2025 9,300 $3,801,933 -60.3%
BECN June 30, 2025 30,000 $3,711,000 No longer tracked
GAP Dec. 31, 2025 173,300 $3,706,887 -12.1%
WAY March 31, 2026 50,000 $1,637,500 2.9%
MCO March 31, 2026 3,000 $1,532,550 1.2%
FLD June 30, 2025 225,000 $1,395,000 -87.2%
CME March 31, 2026 5,000 $1,365,400 -10.9%
RIOT Sept. 30, 2025 111,600 $1,261,080 3.7%
MSCI March 31, 2026 2,000 $1,147,460 -0.6%
MMLP June 30, 2025 145,938 $525,377 -26.1%
EQIX June 30, 2025 500 $407,675 28.9%
GGN June 30, 2026 18,160 $96,611 No longer tracked
OPITQ June 30, 2025 48,770 $22,239 No longer tracked