Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +72.1%
S&P 500 total return (same window) +37.0%
Excess return +35.1%

Annualized: +54.4% · 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: 92.4% · Options excluded: 0.0%

Sector breakdown

04
Technology 22.3%
Industrials 18.1%
Energy 13.8%
Real Estate 12.1%
Financials 7.9%
Retail 7.3%
Consumer Discretionary 4.5%
Materials 3.5%
Communication Services 1.8%
Healthcare 0.8%
Other/Unmapped 7.7%

Full portfolio 38 positions

05
Type Streak 8Q trend
INTC Intel Corporation - Common Stock $49,836,321 10.40% 356,917 $34,017,834 Down ×1
MU Micron Technology, Inc. - Common Stock $29,627,352 6.18% 25,667 $16,591,770 Down ×5
HPP Hudson Pacific Properties, Inc. Common Stock $25,666,528 5.36% 1,689,699 $14,791,992 Down ×1
JOBY Joby Aviation, Inc. Common Stock $23,189,485 4.84% 2,599,718 $3,521,632 Up ×1
CART Maplebear Inc. - Common Stock $22,166,145 4.63% 468,134 $12,831,825 Up ×2
MLP Maui Land & Pineapple Company, Inc. Common Stock $22,007,355 4.59% 1,237,759 $3,580,369 Up ×1
RIVN Rivian Automotive, Inc. - Class A Common Stock $21,610,865 4.51% 1,245,583 $3,094,985 Up ×1
TDW Tidewater Inc. Common Stock $19,796,706 4.13% 297,114 $-6,741,448 Down ×1
Unknown issuer (CUSIP: 67623C307) $19,759,270 4.12% 1,162,310 Up ×1
JEF Jefferies Financial Group Inc. Common Stock $18,445,269 3.85% 369,053 $3,257,125 Up ×2
CHRD Chord Energy Corporation - Common Stock $17,795,664 3.71% 155,693 $-5,892,531 Down ×5
MSB Mesabi Trust Common Stock $16,944,253 3.54% 669,733 $-3,423,070 Up ×1
BA Boeing Company (The) Common Stock $14,295,246 2.98% 66,038 $4,170,391 Up ×2
VAL Valaris Limited Common Shares $14,155,766 2.95% 194,983 $-7,328,033 Down ×4
HY Hyster-Yale, Inc. Class A common stock $13,941,002 2.91% 397,633 $1,087,098 Up ×1
AMZN Amazon.com, Inc. - Common Stock $13,030,524 2.72% 54,672 $1,681,059 Up ×2
MBI MBIA Inc. Common Stock $12,826,327 2.68% 1,967,228 $1,408,857 Up ×1
CDLR Cadeler A/S American Depositary Share (each representing four (4) Ordinary Shares) $11,031,992 2.30% 503,514 $-791,833 Up ×1
QCOM QUALCOMM Incorporated - Common Stock $10,965,642 2.29% 59,341 $3,367,187 Up ×2
SLG SL Green Realty Corp Common Stock $10,095,150 2.11% 195,000 Up ×1
LYFT Lyft, Inc. - Class A Common Stock $9,836,548 2.05% 673,275 Up ×1
VSNT Versant Media Group, Inc. - Class A Common Stock $9,618,861 2.01% 267,116 $-195,918 Up ×1
SBLK Star Bulk Carriers Corp. - Common Shares $8,842,880 1.85% 354,140 $691,729 Down ×4
WOLF Wolfspeed, Inc. Common Stock New $7,131,109 1.49% 147,795 Up ×1
GNW Genworth Financial Inc Common Stock $6,824,982 1.42% 720,695 $1,068,787 Up ×1
HON Honeywell International Inc. - Common Stock $5,610,486 1.17% 25,058 Up ×1
Unknown issuer (CUSIP: 43849R105) $5,537,833 1.16% 25,049 Up ×1
YOU Clear Secure, Inc. Class A Common Stock $5,194,426 1.08% 93,207 $-6,582,759 Down ×2
CRGY Crescent Energy Company Class A Common Stock $4,812,615 1.00% 490,083 $-1,803,506
NYT New York Times Company (The) Common Stock $4,754,555 0.99% 67,942 $-980,189 Down ×5
HLX Helix Energy Solutions Group, Inc. Common Stock $4,181,784 0.87% 478,465 Up ×1
AAPL Apple Inc. - Common Stock $4,005,186 0.84% 13,842 $375,442 Down ×5
AMGN Amgen Inc. - Common Stock $3,975,331 0.83% 10,978 $198,041 Up ×1
NE Noble Corporation plc A Ordinary Shares $3,871,628 0.81% 103,797 $-1,787,615 Down ×2
CMCSA Comcast Corporation - Class A Common Stock $3,427,741 0.72% 139,623 $-486,916 Up ×1
Unknown issuer (CUSIP: 29333R107) $2,083,227 0.43% 725,863 Up ×1
LNG Cheniere Energy, Inc. Common Stock $1,723,639 0.36% 7,212 $-437,636 Down ×6
GTM ZoomInfo Technologies Inc. - Common Stock $586,000 0.12% 200,000 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 67623C307) $19,759,270 1,162,310 4.12%
SLG $10,095,150 195,000 2.11%
LYFT $9,836,548 673,275 2.05%
WOLF $7,131,109 147,795 1.49%
HON $5,610,486 25,058 1.17%
Unknown issuer (CUSIP: 43849R105) $5,537,833 25,049 1.16%
HLX $4,181,784 478,465 0.87%
Unknown issuer (CUSIP: 29333R107) $2,083,227 725,863 0.43%
GTM $586,000 200,000 0.12%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
INTC Trimmed -2K +$34.0M
MU Trimmed -13K +$16.6M
HPP Trimmed -150K +$14.8M
CART Bought more +219K +$12.8M
VAL Trimmed -24K -$7.3M
TDW Trimmed -21K -$6.7M
YOU Trimmed -150K -$6.6M
CHRD Trimmed -11K -$5.9M
BA Bought more +15K +$4.2M
MLP Bought more +40K +$3.6M

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
TDW Dec. 31, 2025 320,597 $17,097,438 63.2%
UNFI June 30, 2026 307,078 $13,836,935 -0.2%
AL March 31, 2026 159,231 $10,227,422 No longer tracked
SPR Dec. 31, 2025 230,548 $8,899,153 No longer tracked
VTLE Dec. 31, 2025 257,100 $4,342,419 No longer tracked
CBL June 30, 2026 104,136 $4,001,946 3.0%
AXP June 30, 2025 10,687 $2,875,448 -5.1%
GLW June 30, 2026 17,976 $2,444,187 -35.7%
IVZ March 31, 2026 90,614 $2,380,433 26.2%
EQT June 30, 2026 19,871 $1,264,594 -5.6%
GNK Dec. 31, 2025 55,000 $979,000 50.1%
CQP June 30, 2026 3,250 $210,048 0.6%
BACPRL June 30, 2025 168 $207,408 No longer tracked
TUSK June 30, 2026 10,720 $26,264 -13.8%