Sector breakdown

04
Technology 30.1%
Financials 21.2%
Retail 14.3%
Industrials 11.5%
Communication Services 10.5%
Health Care 7.7%
Materials 2.1%
Real Estate 2.0%
Consumer Discretionary 0.3%
Consumer products 0.2%
Consumer Staples 0.1%
Other/Unmapped 0.1%

Full portfolio 92 positions

05
Type Streak 8Q trend
MSFT Microsoft Corporation - Common Stock $51,038 7.66% 136,824 $-5,551 Down ×5
GOOG Alphabet Inc. - Class C Capital Stock $46,863 7.03% 132,631 $3,884 Down ×5
AMZN Amazon.com, Inc. - Common Stock $44,755 6.72% 187,780 $3,882 Down ×1
AAPL Apple Inc. - Common Stock $40,022 6.01% 138,312 $7,591 Up ×1
V Visa Inc. $34,003 5.10% 99,109 $291 Down ×3
NVDA NVIDIA Corporation - Common Stock $30,574 4.59% 152,801 $3,803 Down ×2
MCO Moody's Corporation Common Stock $23,217 3.48% 51,260 $873 Up ×1
TXN Texas Instruments Incorporated - Common Stock $21,743 3.26% 72,946 $6,871 Down ×5
GOOGL Alphabet Inc. - Class A Common Stock $21,101 3.17% 59,044 $3,267 Down ×3
COST Costco Wholesale Corporation - Common Stock $17,458 2.62% 18,662 $-755 Up ×1
DHR Danaher Corporation Common Stock $17,402 2.61% 91,357 $-907 Down ×5
NOW ServiceNow, Inc. Common Stock $16,497 2.48% 166,167 $-1,995 Down ×2
AZO AutoZone, Inc. Common Stock $15,628 2.35% 4,890 $-1,852 Down ×5
ELV Elevance Health, Inc. Common Stock $15,235 2.29% 39,394 $4,487 Up ×1
EW Edwards Lifesciences Corporation Common Stock $15,186 2.28% 167,876 $3,575 Up ×2
MELI MercadoLibre, Inc. - Common Stock $14,239 2.14% 8,389 $-1,275 Down ×2
TT Trane Technologies plc $13,940 2.09% 28,381 $1,313 Down ×5
JPM JP Morgan Chase & Co. Common Stock $13,278 1.99% 40,566 $3,061 Up ×1
CPRT Copart, Inc. - Common Stock $13,217 1.98% 468,837 $-6,431 Down ×5
FERG Ferguson Enterprises Inc. Common Stock $12,970 1.95% 54,649 $-705 Down ×1
LIN Linde plc - Ordinary Shares $12,804 1.92% 24,673 $-193 Down ×4
MRSH Marsh Common Stock $12,086 1.81% 72,512 $-1,070 Down ×3
AVGO Broadcom Inc. - Common Stock $11,829 1.77% 31,315 $11,240 Up ×2
NDAQ Nasdaq, Inc. - Common Stock $11,518 1.73% 146,127 $-1,910 Down ×1
ICE Intercontinental Exchange Inc. Common Stock $11,209 1.68% 91,045 $-4,110 Down ×3
ETN Eaton Corporation, PLC Ordinary Shares $10,788 1.62% 25,317 $2,256 Up ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $10,675 1.60% 22,353 Up ×1
SPGI S&P Global Inc. Common Stock $10,644 1.60% 26,136 $-11,355 Down ×3
PNC PNC Financial Services Group, Inc. (The) Common Stock $9,797 1.47% 39,789 $3,037 Up ×1
ASML ASML Holding N.V. - New York Registry Shares $8,029 1.20% 4,036 Up ×1
CDW CDW Corporation - Common Stock $8,028 1.20% 57,083 $-538 Down ×5
LAMR Lamar Advertising Company - Class A Common Stock $7,404 1.11% 47,467 $553 Down ×2
EMR Emerson Electric Company Common Stock $6,715 1.01% 46,909 $341 Down ×1
AMT American Tower Corporation (REIT) Common Stock $5,898 0.89% 36,056 $-325 Down ×1
BRO Brown & Brown, Inc. Common Stock $5,071 0.76% 79,052 $-6,882 Down ×5
MA Mastercard Incorporated Common Stock $4,625 0.69% 9,005 $-2,137 Down ×5
CME CME Group Inc. - Class A Common Stock $3,142 0.47% 14,227 $-1,533 Down ×5
LRCX Lam Research Corporation - Common Stock $3,124 0.47% 7,209 Up ×1
AMD Advanced Micro Devices, Inc. - Common Stock $2,083 0.31% 3,585 Up ×1
ANET Arista Networks, Inc. Common Stock $1,841 0.28% 10,840 Up ×1
WTS Watts Water Technologies, Inc. Class A Common Stock $1,293 0.19% 3,304 $135 Down ×3
STVN Stevanato Group S.p.A. Ordinary Shares $1,188 0.18% 65,750 $168 Down ×1
TTEK Tetra Tech, Inc. - Common Stock $1,109 0.17% 38,372 $168 Up ×1
WM Waste Management, Inc. Common Stock $1,075 0.16% 4,825 $-19 Up ×2
TTAN ServiceTitan, Inc. - Class A Common Stock $1,059 0.16% 14,973 $248 Up ×1
GWRE Guidewire Software, Inc. Common Stock $1,049 0.16% 8,525 $21 Up ×3
WK Workiva Inc. Class A Common Stock $977 0.15% 20,149 $69 Up ×2
DE Deere & Company Common Stock $972 0.15% 1,532 $181 Up ×1
XPEL XPEL, Inc. - Common Stock $925 0.14% 18,649 $197 Up ×2
APG APi Group Corporation Common Stock $911 0.14% 21,502 $122 Up ×3
KNSL Kinsale Capital Group, Inc. Common Stock $888 0.13% 2,692 $58 Up ×3
FSS Federal Signal Corporation Common Stock $877 0.13% 6,827 $142 Up ×3
FND Floor & Decor Holdings, Inc. Common Stock $860 0.13% 14,483 $270 Up ×3
LECO Lincoln Electric Holdings, Inc. - Common Shares $858 0.13% 3,233 $9 Down ×1
NVMI Nova Ltd. - Ordinary Shares $855 0.13% 1,574 $81 Down ×4
ECL Ecolab Inc. Common Stock $797 0.12% 2,859 $47 Up ×2
KAI Kadant Inc Common Stock $772 0.12% 2,458 $66 Up ×3
SSD Simpson Manufacturing Company, Inc. Common Stock $702 0.11% 3,354 $7 Down ×3
WINA Winmark Corporation - Common Stock $666 0.10% 1,573 $207 Up ×2
MPWR Monolithic Power Systems, Inc. - Common Stock $650 0.10% 470 $102 Down ×1
RYAN Ryan Specialty Holdings, Inc. Class A Common Stock $621 0.09% 16,457 Up ×1
SITE SiteOne Landscape Supply, Inc. Common Stock $585 0.09% 5,113 $-87 Up ×1
MCD McDonald's Corporation Common Stock $574 0.09% 2,124 $-16 Up ×1
FIVE Five Below, Inc. - Common Stock $553 0.08% 3,077 $-231 Down ×5
BLD TopBuild Corp. Common Stock $550 0.08% 1,550 $-100 Down ×4
DGX Quest Diagnostics Incorporated Common Stock $540 0.08% 2,548 $278 Up ×1
GGG Graco Inc. Common Stock $539 0.08% 7,125 Up ×1
HD Home Depot, Inc. (The) Common Stock $537 0.08% 1,522 $-20 Down ×2
AAON AAON, Inc. - Common Stock $521 0.08% 4,103 $-300 Down ×3
DAR Darling Ingredients Inc. Common Stock $486 0.07% 8,901 $-224 Down ×3
BOH Bank of Hawaii Corporation Common Stock $469 0.07% 5,752 $38 Down ×2
PODD Insulet Corporation - Common Stock $436 0.07% 2,866 $-11 Up ×2
NU Nu Holdings Ltd. Class A Ordinary Shares $422 0.06% 31,557 $164 Up ×2
XYL Xylem Inc. Common Stock New $398 0.06% 3,371 $43 Up ×2
FWRG First Watch Restaurant Group, Inc. - Common Stock $375 0.06% 29,117 $-81 Down ×4
IBKR Interactive Brokers Group, Inc. - Class A Common Stock $366 0.05% 4,208 $84
Unknown issuer (CUSIP: G9723Y105) $345 0.05% 28,999 Up ×1
HUBB Hubbell Inc Common Stock $325 0.05% 621 Up ×1
Unknown issuer (CUSIP: 60744M106) $324 0.05% 14,691 Up ×1
PG Procter & Gamble Company (The) Common Stock $304 0.05% 2,076 $-9 Down ×1
ABBV AbbVie Inc. Common Stock $303 0.05% 1,204 $41
PEP PepsiCo, Inc. - Common Stock $284 0.04% 2,101 $-42
WMT Walmart Inc. - Common Stock $283 0.04% 2,500 Up ×1
CL Colgate-Palmolive Company Common Stock $279 0.04% 3,047 $53 Up ×1
CDNS Cadence Design Systems, Inc. - Common Stock $269 0.04% 717 Up ×1
BDX Becton, Dickinson and Company Common Stock $262 0.04% 1,732 $-32 Down ×1
TMO Thermo Fisher Scientific Inc Common Stock $254 0.04% 506 $5 Down ×1
VZ Verizon Communications Inc. Common Stock $218 0.03% 5,137 $-107 Down ×2
SYK Stryker Corporation Common Stock $214 0.03% 681 $-20 Down ×1
SHW Sherwin-Williams Company (The) Common Stock $213 0.03% 620 Up ×1
COR Cencora, Inc. Common Stock $212 0.03% 748 $-23
VRSN VeriSign, Inc. - Common Stock $206 0.03% 819 $-19 Down ×2

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

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

SecurityValue% of portfolioStreak
GWRE $1,049 0.16% up ×3
APG $911 0.14% up ×3
KNSL $888 0.13% up ×3
FSS $877 0.13% up ×3
FND $860 0.13% up ×3
KAI $772 0.12% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
TSM $10,675 22,353 1.60%
ASML $8,029 4,036 1.20%
LRCX $3,124 7,209 0.47%
AMD $2,083 3,585 0.31%
ANET $1,841 10,840 0.28%
RYAN $621 16,457 0.09%
GGG $539 7,125 0.08%
Unknown issuer (CUSIP: G9723Y105) $345 28,999 0.05%
HUBB $325 621 0.05%
Unknown issuer (CUSIP: 60744M106) $324 14,691 0.05%
WMT $283 2,500 0.04%
CDNS $269 717 0.04%
SHW $213 620 0.03%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
SPGI Trimmed -26K -$11K
AAPL Bought more +11K +$8K
BRO Trimmed -104K -$7K
TXN Trimmed -4K +$7K
CPRT Trimmed -123K -$6K
MSFT Trimmed -16K -$6K
ELV Bought more +3K +$4K
ICE Trimmed -6K -$4K
GOOG Trimmed -17K +$4K
AMZN Trimmed -8K +$4K

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
FCPT Dec. 31, 2025 12,454 $304,000 -3.9%
ADBE Sept. 30, 2025 31,209 $12,074 -25.2%
KMX Sept. 30, 2025 130,978 $8,803 14.9%
SE March 31, 2026 58,774 $7,497 -9.9%
APD Sept. 30, 2025 17,049 $4,809 12.6%
MSCI March 31, 2026 7,674 $4,402 14.2%
STVN June 30, 2025 52,642 $1,075 -20.2%
DE June 30, 2025 1,614 $758 27.1%
SBUX June 30, 2025 6,271 $615 10.0%
ITW March 31, 2026 2,110 $520 5.9%
GLOB June 30, 2026 9,773 $451 55.6%
NSA June 30, 2026 10,329 $390 No longer tracked
XPEL June 30, 2025 12,862 $378 20.2%
OTIS June 30, 2026 4,672 $360 5.0%
ACN June 30, 2026 1,758 $349 100.4%
CRM June 30, 2025 1,243 $334 -8.8%
INTU June 30, 2026 633 $274 31.6%
ROP June 30, 2026 754 $267 29.5%
INOD March 31, 2026 5,000 $255 53.8%
KMB June 30, 2026 2,602 $251 0.3%
GO June 30, 2026 35,454 $250 33.3%
GILD June 30, 2026 1,725 $240 23.5%
CTSH March 31, 2026 2,871 $238 15.0%
T June 30, 2026 7,796 $226 1.1%
MCD June 30, 2025 717 $224 -15.0%
RSG March 31, 2026 1,018 $216 9.8%
EA June 30, 2025 1,491 $215 No longer tracked
TMUS June 30, 2026 1,024 $215 -12.6%
IBM March 31, 2026 719 $213 4.6%
CB June 30, 2026 632 $206 4.2%
PG Sept. 30, 2025 1,291 $206 4.8%
TJX June 30, 2026 1,287 $206 -4.3%
TSLA March 31, 2026 459 $206 0.1%
TEL June 30, 2026 959 $200 3.2%