Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +95.5%
S&P 500 total return (same window) +37.0%
Excess return +58.5%

Annualized: +71.0% · 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: 99.1% · Options excluded: 0.0%

Sector breakdown

04
Technology 44.5%
Real Estate 14.4%
Health Care 13.5%
Consumer Discretionary 7.5%
Industrials 6.4%
Utilities 5.9%
Consumer products 4.1%
Communication Services 3.7%

Full portfolio 11 positions

05
Type Streak 8Q trend
ASML ASML Holding N.V. - New York Registry Shares $62,191,884 34.63% 31,261 $20,901,417
OHI Omega Healthcare Investors, Inc. Common Stock $25,801,460 14.37% 541,138 $2,088,793
CVS CVS Health Corporation Common Stock $18,864,832 10.50% 182,357 $5,767,952
MU Micron Technology, Inc. - Common Stock $13,851,480 7.71% 12,000 $6,065,282 Down ×1
PATK Patrick Industries, Inc. - Common Stock $13,467,000 7.50% 150,000 $-3,193,500
TXT Textron Inc. Common Stock $11,521,288 6.41% 125,600 Up ×1
SRE DBA Sempra Common Stock $10,522,585 5.86% 113,500 $7,056,920 Up ×1
IBP Installed Building Products, Inc. Common Stock $7,418,546 4.13% 32,277 $-1,139,701
NOK Nokia Corporation Sponsored American Depositary Shares $6,640,000 3.70% 500,000 Up ×1
ELAN Elanco Animal Health Incorporated Common Stock $5,456,652 3.04% 221,725 $1,919,415 Up ×1
AMD Advanced Micro Devices, Inc. - Common Stock $3,872,346 2.16% 6,666 $-4,264,854 Down ×2

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
TXT $11,521,288 125,600 6.41%
NOK $6,640,000 500,000 3.70%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
ASML Price move only +0 +$20.9M
SRE Bought more +78K +$7.1M
MU Trimmed -11K +$6.1M
CVS Price move only +0 +$5.8M
AMD Trimmed -33K -$4.3M
PATK Price move only +0 -$3.2M
OHI Price move only +0 +$2.1M
ELAN Bought more +74K +$1.9M
IBP Price move only +0 -$1.1M

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
CLH Dec. 31, 2025 76,144 $17,682,160 35.8%
HLT June 30, 2025 76,740 $17,462,187 19.9%
AXS Dec. 31, 2025 150,000 $14,370,000 -11.4%
AMRZ Dec. 31, 2025 284,416 $13,802,708 -31.1%
RCL March 31, 2026 40,000 $11,156,800 0.9%
APPF Dec. 31, 2025 40,000 $11,026,400 -12.8%
SGI June 30, 2026 139,866 $10,338,895 -21.0%
BLDR Dec. 31, 2025 75,000 $9,093,750 -45.3%
LII Dec. 31, 2025 15,059 $7,971,632 -26.6%
VRNA Dec. 31, 2025 70,000 $7,469,700 No longer tracked
AZO March 31, 2026 2,118 $7,183,197 -17.3%
ATMU Sept. 30, 2025 166,932 $6,079,663 1.4%
KVYO June 30, 2025 185,050 $5,599,613 -53.2%
ODFL Sept. 30, 2025 23,175 $3,761,303 28.2%
RPRX Sept. 30, 2025 100,000 $3,603,000 62.0%
AVGO June 30, 2026 11,235 $3,477,345 -6.0%
GTES June 30, 2025 107,500 $1,979,075 20.1%
SLM Sept. 30, 2025 59,426 $1,948,579 -17.8%
MEDP Sept. 30, 2025 5,519 $1,732,193 16.6%
ACA June 30, 2025 20,316 $1,566,770 69.0%
APH June 30, 2026 7,378 $932,210 -50.7%