Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +16.6%
S&P 500 total return (same window) +37.0%
Excess return -20.4%

Annualized: +13.1% · 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: 97.4% · Options excluded: 0.0%

Sector breakdown

04
Consumer Discretionary 22.2%
Technology 20.7%
Industrials 14.7%
Financials 14.1%
Retail 8.6%
Communication Services 7.9%
Real Estate 6.2%
Other/Unmapped 5.5%

Full portfolio 17 positions

05
Type Streak 8Q trend
TSLA Tesla, Inc. - Common Stock $29,683,424 21.94% 70,574 $3,423,747 Down ×1
QXO QXO, Inc. Common Stock $19,937,768 14.74% 1,153,806 $-5,356,976 Down ×2
AAPL Apple Inc. - Common Stock $14,032,513 10.37% 48,495 $1,626,243 Down ×1
AMZN Amazon.com, Inc. - Common Stock $11,637,904 8.60% 48,829 $1,344,784 Down ×1
BN Brookfield Corporation Class A Limited Voting Shares $8,396,917 6.21% 197,157 $-1,643,973 Down ×1
CSGP CoStar Group, Inc. - Common Stock $8,332,056 6.16% 294,211 $-814,071 Up ×1
NVDA NVIDIA Corporation - Common Stock $7,061,576 5.22% 35,292 $2,673,498 Up ×2
MSFT Microsoft Corporation - Common Stock $6,922,505 5.12% 18,558 $3,207,109 Up ×4
Unknown issuer (CUSIP: 84615Q103) $6,665,590 4.93% 39,012 Up ×1
GOOG Alphabet Inc. - Class C Capital Stock $5,734,193 4.24% 16,229 $1,099,396 Up ×2
META Meta Platforms, Inc. - Class A Common Stock $5,021,167 3.71% 8,914 $-280,762 Down ×1
MSCI MSCI Inc. Common Stock $4,087,172 3.02% 7,298 $153,477
V Visa Inc. $3,539,660 2.62% 10,317 $421,450
MA Mastercard Incorporated Common Stock $3,091,872 2.29% 6,020 $84,418 Up ×2
SGOV iShares Trust $571,806 0.42% 5,680 $57
MCD McDonald's Corporation Common Stock $387,895 0.29% 1,435 $-58,089
SPY SPY $204,615 0.15% 274 $51,785 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
MSFT $6,922,505 5.12% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 84615Q103) $6,665,590 39,012 4.93%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
QXO Trimmed -149K -$5.4M
TSLA Trimmed -64 +$3.4M
MSFT Bought more +9K +$3.2M
NVDA Bought more +10K +$2.7M
BN Trimmed -51K -$1.6M
AAPL Trimmed -389 +$1.6M
AMZN Trimmed -593 +$1.3M
GOOG Bought more +72 +$1.1M
CSGP Bought more +67K -$814K
V Price move only +0 +$421K

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
MKL March 31, 2026 3,520 $7,566,768 -9.8%
BRK-B (filed as BRKB) June 30, 2026 13,819 $6,622,065 No longer tracked
CPRT Dec. 31, 2025 140,738 $6,328,988 -29.4%
CSGP Dec. 31, 2025 58,899 $4,969,309 -58.9%
COST March 31, 2026 4,717 $4,067,658 -7.3%
NKE Sept. 30, 2025 49,154 $3,491,900 -51.3%
ANSS Sept. 30, 2025 9,228 $3,241,058 No longer tracked
ACN Dec. 31, 2025 12,910 $3,183,606 -27.3%
FDS Sept. 30, 2025 6,688 $2,991,409 -3.5%
ABNB Dec. 31, 2025 23,774 $2,886,639 20.9%
ACGL Sept. 30, 2025 29,612 $2,696,173 4.0%
IDXX June 30, 2026 4,782 $2,686,958 0.1%
TYL June 30, 2026 6,943 $2,377,144 12.3%
MTD Dec. 31, 2025 1,895 $2,326,321 10.6%
DHR Sept. 30, 2025 9,540 $1,884,532 11.6%
JNJ March 31, 2026 1,788 $370,027 3.5%