Performance vs S&P 500

03
Tracked Q3 2025–Q2 2026 -6.9%
S&P 500 total return (same window) +13.0%
Excess return -19.9%

Annualized: -9.2% · S&P 500: +17.7%

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: 87.6% · Options excluded: 0.0%

Sector breakdown

04
Industrials 54.8%
Consumer Discretionary 6.2%
Retail 5.9%
Energy 5.5%
Other/Unmapped 27.7%

Full portfolio 11 positions

05
Type Streak 8Q trend
RSP Invesco Exchange-Traded Fund Trust $42,064,629 14.48% 197,700 $19,552,413 Up ×1
SPY SPY $38,287,645 13.18% 51,271 $11,785,640 Up ×2
RBC RBC Bearings Incorporated Common Stock $33,134,955 11.41% 51,447 $5,193,060
CW Curtiss-Wright Corporation Common Stock $30,928,732 10.65% 40,816 $3,128,138
PWR Quanta Services, Inc. Common Stock $30,325,205 10.44% 42,116 $7,202,679
CLH Clean Harbors, Inc. Common Stock $28,769,625 9.90% 96,300 $1,157,526
RSG Republic Services, Inc. Common Stock $28,097,794 9.67% 131,865 $-1,965,986 Down ×1
HLT Hilton Worldwide Holdings Inc. Common Stock $17,924,150 6.17% 54,240 $1,430,851
AMZN Amazon.com, Inc. - Common Stock $17,279,650 5.95% 72,500 Up ×1
BKR Baker Hughes Company - Common Stock $15,839,700 5.45% 285,400 Up ×1
XPO XPO, Inc. Common Stock $7,859,733 2.71% 38,286 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
AMZN $17,279,650 72,500 5.95%
BKR $15,839,700 285,400 5.45%
XPO $7,859,733 38,286 2.71%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
RSP Bought more +80K +$19.6M
SPY Bought more +11K +$11.8M
PWR Price move only +0 +$7.2M
RBC Price move only +0 +$5.2M
CW Price move only +0 +$3.1M
RSG Trimmed -5K -$2.0M
HLT Price move only +0 +$1.4M
CLH Price move only +0 +$1.2M

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
IIIV Sept. 30, 2025 294,689 $55,024,330 -56.0%
WCN March 31, 2026 228,759 $40,115,178 -5.3%
AJG Dec. 31, 2025 106,294 $32,923,504 -12.6%
ADSK Sept. 30, 2025 404,091 $32,488,916 -33.3%
ICE March 31, 2026 198,463 $32,143,067 -4.5%
BX March 31, 2026 200,827 $30,955,474 -2.8%
FISV Sept. 30, 2025 106,338 $27,514,958 -65.6%
HEI-A (filed as HEIA) June 30, 2026 122,790 $25,919,741 No longer tracked
NOW March 31, 2026 138,870 $21,273,495 28.5%
SPOT March 31, 2026 33,356 $19,370,163 -2.5%
SPY Sept. 30, 2025 16,476 $16,938,646 No longer tracked
CWST Sept. 30, 2025 19,695 $15,112,761 -12.8%
LYV June 30, 2026 97,922 $14,934,084 -7.8%
CSGP March 31, 2026 214,388 $14,415,449 -32.1%
BRO Sept. 30, 2025 75,100 $11,233,458 -36.1%
NOW June 30, 2025 9,740 $7,754,404 -34.6%
RSP June 30, 2025 23,597 $4,087,708 16.2%
ACEL Dec. 31, 2025 206,006 $2,280,486 -5.0%
SEAT (filed as SEATXXXX) June 30, 2025 718,676 $2,127,281 -89.6%