Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +32.7%
S&P 500 total return (same window) +37.0%
Excess return -4.3%

Annualized: +25.4% · 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: 99.4% · Options excluded: 0.0%

Sector breakdown

04
Technology 35.5%
Financials 12.0%
Communication Services 11.3%
Health Care 8.9%
Real Estate 8.9%
Industrials 7.4%
Retail 5.2%
Consumer Discretionary 4.2%
Utilities 2.7%
Consumer products 1.1%
Materials 0.8%
Consumer Staples 0.6%
Energy 0.6%
Other/Unmapped 0.7%

Full portfolio 498 positions

05
Type Streak 8Q trend
NVDA NVIDIA Corporation - Common Stock $137,041,040 8.44% 684,897 $21,636,200 Up ×1
AAPL Apple Inc. - Common Stock $104,113,753 6.41% 359,807 $11,480,403 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $88,418,341 5.44% 247,414 $16,344,303 Down ×3
MSFT Microsoft Corporation - Common Stock $73,218,976 4.51% 196,287 $-608,470 Down ×6
AMZN Amazon.com, Inc. - Common Stock $50,913,952 3.13% 213,619 $5,435,282 Down ×4
AVGO Broadcom Inc. - Common Stock $46,793,026 2.88% 123,873 $9,453,430 Up ×5
JPM JP Morgan Chase & Co. Common Stock $29,084,907 1.79% 88,855 $3,594,766 Up ×1
MU Micron Technology, Inc. - Common Stock $28,371,294 1.75% 24,579 $23,318,221 Up ×1
META Meta Platforms, Inc. - Class A Common Stock $27,125,794 1.67% 48,156 $-200,279 Up ×1
C Citigroup, Inc. Common Stock $24,875,370 1.53% 177,732 $3,270,424 Down ×4
TSLA Tesla, Inc. - Common Stock $22,572,340 1.39% 53,667 $6,854,749 Up ×1
AMD Advanced Micro Devices, Inc. - Common Stock $19,467,457 1.20% 33,512 $13,227,649 Up ×1
CSCO Cisco Systems, Inc. - Common Stock $19,277,183 1.19% 164,117 $5,851,474 Down ×3
LLY Eli Lilly and Company Common Stock $17,873,906 1.10% 14,902 $5,270,298 Up ×1
WELL Welltower Inc. Common Stock $15,916,272 0.98% 70,125 $2,193,221 Up ×1
APH Amphenol Corporation Common Stock $15,672,204 0.96% 88,885 $6,495,530 Up ×1
GOOG Alphabet Inc. - Class C Capital Stock $15,547,227 0.96% 44,002 $3,929,971 Up ×1
MA Mastercard Incorporated Common Stock $14,053,123 0.87% 27,362 $789,148 Up ×1
EQIX Equinix, Inc. - Common Stock $14,046,205 0.86% 13,475 $781,598 Down ×3
UNH UnitedHealth Group Incorporated Common Stock (DE) $13,700,411 0.84% 32,963 $8,681,507 Up ×1
WDC Western Digital Corporation - Common Stock $13,229,168 0.81% 20,712 $7,624,615 Down ×1
ADI Analog Devices, Inc. - Common Stock $12,817,073 0.79% 32,271 $11,460,206 Up ×1
KLAC KLA Corporation - Common Stock $12,400,583 0.76% 41,101 $-1,516,637 Up ×1
JNJ Johnson & Johnson Common Stock $11,139,632 0.69% 43,862 $561,735 Up ×2
V Visa Inc. $11,092,443 0.68% 32,331 $820,515 Down ×4
AMGN Amgen Inc. - Common Stock $10,417,106 0.64% 28,767 $1,124,395 Up ×1
BKNG Booking Holdings Inc. - Common Stock $9,989,817 0.62% 56,047 $-813,864 Up ×1
GILD Gilead Sciences, Inc. - Common Stock $9,913,269 0.61% 78,465 $-1,240,930 Down ×2
INTC Intel Corporation - Common Stock $9,838,329 0.61% 70,460 $6,297,779 Down ×1
BMY Bristol-Myers Squibb Company Common Stock $9,813,782 0.60% 170,319 $-1,864,072 Down ×2
LRCX Lam Research Corporation - Common Stock $9,763,358 0.60% 22,531 $5,501,910 Up ×1
UNP Union Pacific Corporation Common Stock $9,661,168 0.59% 35,519 $734,208 Down ×3
PLD Prologis, Inc. Common Stock $9,003,065 0.55% 66,458 $144,362 Down ×2
VTR Ventas, Inc. Common Stock $8,972,796 0.55% 101,045 $807,390 Up ×1
DELL Dell Technologies Inc. Class C Common Stock $8,738,359 0.54% 20,253 $2,234,543 Down ×2
SYK Stryker Corporation Common Stock $8,394,579 0.52% 26,663 $4,933,540 Up ×1
SPG Simon Property Group, Inc. Common Stock $8,200,351 0.50% 36,666 $5,316,597 Up ×1
BK The Bank of New York Mellon Corporation Common Stock $8,167,283 0.50% 56,478 $1,450,808 Down ×3
EXPE Expedia Group, Inc. - Common Stock $7,537,201 0.46% 29,456 $808,835 Up ×2
EBAY eBay Inc. - Common Stock $7,528,039 0.46% 67,365 $1,306,822 Down ×3
STT State Street Corporation Common Stock $7,309,082 0.45% 43,096 $1,703,107 Down ×1
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $7,291,183 0.45% 14,571 $-89,456 Down ×1
USB U.S. Bancorp Common Stock $7,284,783 0.45% 120,609 $622,251 Down ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $7,169,759 0.44% 15,013 $-753,817 Down ×4
EXR Extra Space Storage Inc Common Stock $7,150,068 0.44% 49,209 $796,033 Up ×1
NEM Newmont Corporation $7,072,996 0.44% 75,728 $-1,360,221 Down ×2
CAH Cardinal Health, Inc. Common Stock $6,980,463 0.43% 29,384 $4,980,625 Up ×2
Q Qnity Electronics, Inc. Common Stock $6,920,751 0.43% 42,378 $-296,729 Down ×1
ADP Automatic Data Processing, Inc. - Common Stock $6,770,905 0.42% 30,234 $1,562,589 Up ×1
ADBE Adobe Inc. - Common Stock $6,657,410 0.41% 32,472 $-1,458,058 Down ×1
ANET Arista Networks, Inc. Common Stock $6,637,042 0.41% 39,069 $-2,465,253 Down ×3
ITW Illinois Tool Works Inc. Common Stock $6,563,496 0.40% 24,267 $-44,746 Down ×1
MCK McKesson Corporation Common Stock $6,489,848 0.40% 8,589 $-1,830,588 Down ×6
DG Dollar General Corporation Common Stock $6,365,007 0.39% 55,295 $1,403,517 Up ×4
CL Colgate-Palmolive Company Common Stock $6,277,512 0.39% 68,472 $367,919 Down ×4
INTU Intuit Inc. - Common Stock $6,237,900 0.38% 23,900 $-3,318,562 Up ×1
QCOM QUALCOMM Incorporated - Common Stock $6,220,216 0.38% 33,661 $-101,080 Down ×3
AFL AFLAC Incorporated Common Stock $6,120,451 0.38% 52,200 $130,394 Down ×1
HWM Howmet Aerospace Inc. Common Stock $5,885,345 0.36% 21,890 $1,273,149 Up ×1
EQR Equity Residential Common Shares of Beneficial Interest $5,878,390 0.36% 86,536 $752,628 Down ×1
SYF Synchrony Financial Common Stock $5,806,874 0.36% 76,356 $465,739 Down ×1
ED Consolidated Edison, Inc. Common Stock $5,775,107 0.36% 52,202 $4,233,482 Up ×1
FTV Fortive Corporation Common Stock $5,693,527 0.35% 93,199 $393,059 Down ×1
ES Eversource Energy (D/B/A) Common Stock $5,679,194 0.35% 78,583 $-831,533 Down ×4
DE Deere & Company Common Stock $5,586,545 0.34% 8,807 $-1,191,644 Down ×1
GS Goldman Sachs Group, Inc. (The) Common Stock $5,504,887 0.34% 5,443 $-9,439,526 Down ×3
NTAP NetApp, Inc. - Common Stock $5,406,386 0.33% 34,934 $865,902 Down ×3
L Loews Corporation Common Stock $5,343,625 0.33% 47,201 $160,224 Down ×1
AVB AvalonBay Communities, Inc. Common Stock $5,302,378 0.33% 28,101 $19,966 Down ×5
SNA Snap-On Incorporated Common Stock $5,302,023 0.33% 13,176 $311,743 Down ×1
VICI VICI Properties Inc. Common Stock $5,271,874 0.32% 198,564 $-164,423 Down ×3
TROW T. Rowe Price Group, Inc. - Common Stock $5,267,144 0.32% 46,329 $973,866 Down ×1
GE GE Aerospace Common Stock $5,251,280 0.32% 14,051 $975,718 Down ×4
PG Procter & Gamble Company (The) Common Stock $5,139,292 0.32% 35,047 $-2,282,613 Down ×2
BAC Bank of America Corporation Common Stock $5,122,160 0.32% 89,894 $1,051,681 Up ×2
CAT Caterpillar, Inc. Common Stock $5,113,650 0.31% 4,802 $913,899 Down ×3
Unknown issuer (CUSIP: 26614N201) $4,988,433 0.31% 36,777 Up ×1
SNOW Snowflake Inc. Common Stock $4,985,656 0.31% 19,590 $4,095,365 Up ×1
FOXA Fox Corporation - Class A Common Stock $4,941,691 0.30% 94,741 $-748,922 Down ×1
NEE NextEra Energy, Inc. Common Stock $4,926,179 0.30% 56,126 $-1,148,080 Down ×3
DOV Dover Corporation Common Stock $4,925,637 0.30% 21,962 $148,171 Down ×3
COR Cencora, Inc. Common Stock $4,860,748 0.30% 17,177 $-866,024 Down ×3
AMH American Homes 4 Rent Common Shares of Beneficial Interest $4,789,941 0.29% 142,898 $1,232,570 Up ×2
ADSK Autodesk, Inc. - Common Stock $4,750,070 0.29% 24,432 $4,122,363 Up ×1
VRT Vertiv Holdings, LLC Class A Common Stock $4,667,725 0.29% 13,941 $-922,464 Down ×3
HCA HCA Healthcare, Inc. Common Stock $4,648,269 0.29% 11,922 $-1,149,868 Down ×1
ESS Essex Property Trust, Inc. Common Stock $4,636,572 0.29% 15,901 $1,744,188 Up ×1
CBRE CBRE Group Inc Common Stock Class A $4,615,556 0.28% 34,268 $-157,377 Down ×1
AMAT Applied Materials, Inc. - Common Stock $4,458,018 0.27% 6,166 $2,313,286 Down ×6
REG Regency Centers Corporation - Common Stock $4,408,745 0.27% 55,289 $-196,452 Down ×1
ULTA Ulta Beauty, Inc. - Common Stock $4,402,015 0.27% 9,761 $-780,132 Down ×3
REGN Regeneron Pharmaceuticals, Inc. - Common Stock $4,401,569 0.27% 7,059 $-3,018,866 Down ×1
DLR Digital Realty Trust, Inc. Common Stock $4,390,911 0.27% 24,451 $311,317 Up ×1
ORCL Oracle Corporation Common Stock $4,279,260 0.26% 29,200 $2,096,147 Up ×1
MRK Merck & Company, Inc. Common Stock (new) $4,249,239 0.26% 33,068 $-59,429 Down ×3
RMD ResMed Inc. Common Stock $4,203,172 0.26% 21,568 $-802,732 Down ×2
BR Broadridge Financial Solutions, Inc. Common Stock $4,137,123 0.25% 30,209 $-909,831 Down ×1
NFLX Netflix, Inc. - Common Stock $4,024,461 0.25% 56,365 $-4,377,510 Down ×1
CMG Chipotle Mexican Grill, Inc. Common Stock $3,849,582 0.24% 113,223 $487,924 Up ×1
MKL Markel Group Inc. Common Stock $3,843,523 0.24% 1,968 $3,766,960 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
AVGO $46,793,026 2.88% up ×5
DG $6,365,007 0.39% up ×4
KVUE $747,201 0.05% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 26614N201) $4,988,433 36,777 0.31%
LAUR $1,723,892 47,464 0.11%
Unknown issuer (CUSIP: 09264B107) $1,350,793 62,450 0.08%
Unknown issuer (CUSIP: 84615Q103) $1,334,758 7,812 0.08%
AEE $1,101,688 9,746 0.07%
Unknown issuer (CUSIP: 15675D103) $913,393 4,133 0.06%
BLK $877,904 913 0.05%
CRS $793,873 1,287 0.05%
RBRK $654,282 8,150 0.04%
TWST $627,568 6,100 0.04%
MNST $567,685 5,906 0.03%
FCX $444,821 7,073 0.03%
PBF $423,700 9,308 0.03%
TDG $390,288 293 0.02%
BA $389,862 1,801 0.02%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
NVDA Bought more +23K +$21.6M
GOOGL Trimmed -3K +$16.3M
AMD Bought more +3K +$13.2M
AAPL Trimmed -5K +$11.5M
AVGO Bought more +3K +$9.5M
GS Trimmed -12K -$9.4M
UNH Bought more +14K +$8.7M
WDC Trimmed -8 +$7.6M
TSLA Bought more +11K +$6.9M
CME Trimmed -19K -$6.7M

2 positions 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
DD June 30, 2026 110,011 $5,038,503 -4.2%
DFS June 30, 2025 26,511 $4,525,428 No longer tracked
EXPD Dec. 31, 2025 35,476 $4,349,002 29.2%
ZBRA June 30, 2025 14,794 $4,180,193 21.9%
NVO Sept. 30, 2025 43,895 $3,029,633 -32.7%
ISRG March 31, 2026 4,653 $2,635,273 -15.0%
SYY June 30, 2026 35,929 $2,562,816 -7.3%
OVV June 30, 2025 49,609 $2,123,265 58.6%
MOH Dec. 31, 2025 9,557 $1,828,828 9.2%
BNL June 30, 2025 93,950 $1,600,908 15.6%
MNST Sept. 30, 2025 23,301 $1,459,575 27.6%
BKR June 30, 2025 32,386 $1,423,365 46.1%
RMBS June 30, 2025 26,843 $1,389,796 74.9%
RGEN June 30, 2026 11,410 $1,344,326 33.2%
DTE March 31, 2026 10,319 $1,330,945 -14.9%
PEG June 30, 2025 15,797 $1,300,093 -19.1%
RDDT Sept. 30, 2025 8,571 $1,290,536 -35.7%
IBM June 30, 2025 5,155 $1,281,842 -24.5%
CPNG Dec. 31, 2025 39,691 $1,278,050 -41.6%
HPE June 30, 2025 77,526 $1,196,226 239.0%
RHP June 30, 2026 12,176 $1,123,480 -5.4%
EXE Dec. 31, 2025 9,784 $1,039,452 -22.5%
NOC Sept. 30, 2025 1,778 $888,964 -21.6%
WING June 30, 2026 5,400 $836,838 -38.4%
BMRN June 30, 2026 12,997 $734,201 -0.1%
CTRA Dec. 31, 2025 30,503 $721,396 No longer tracked
ENPH June 30, 2025 11,435 $709,542 -15.6%
AEP March 31, 2026 5,919 $682,520 -8.8%
ILMN Sept. 30, 2025 6,917 $659,951 187.5%
COLD Dec. 31, 2025 49,532 $606,272 8.6%
FHN June 30, 2026 26,355 $599,840 -8.7%
VAC June 30, 2025 7,020 $450,965 44.1%
BBY June 30, 2026 5,339 $342,764 15.9%
FCX March 31, 2026 6,145 $312,105 22.6%
EOG June 30, 2025 2,165 $277,640 18.2%
CCL June 30, 2026 10,653 $275,700 -9.8%
DVN March 31, 2026 7,485 $274,176 -5.3%
HAE June 30, 2026 4,852 $273,459 39.6%
CLX Dec. 31, 2025 2,139 $263,739 -20.3%
WSM June 30, 2025 1,536 $242,842 42.2%
SWKS June 30, 2025 3,548 $229,307 14.1%
UTHR June 30, 2026 377 $223,553 0.0%
NBIX June 30, 2026 1,615 $212,761 -15.0%
CNXC March 31, 2026 5,024 $208,898 -9.0%
TPG March 31, 2026 3,263 $208,310 10.3%
TRNO June 30, 2025 3,145 $198,827 15.1%
JBHT Dec. 31, 2025 1,473 $197,632 20.5%
ASGN June 30, 2026 4,894 $189,447 No longer tracked
COST Dec. 31, 2025 201 $186,052 6.8%
HOLX Dec. 31, 2025 2,742 $185,058 No longer tracked
K Dec. 31, 2025 2,234 $183,233 No longer tracked
HAL Sept. 30, 2025 8,654 $176,369 29.5%
ARE Dec. 31, 2025 2,085 $173,764 -3.2%
DECK June 30, 2026 1,727 $172,855 -20.3%
GOLD June 30, 2025 8,351 $162,343 90.7%
ROST June 30, 2025 1,216 $155,393 79.1%
GNTX Dec. 31, 2025 5,347 $151,320 -5.1%
HON June 30, 2026 665 $150,310 -4.4%
ETN March 31, 2026 469 $149,381 21.9%
B Sept. 30, 2025 7,115 $148,134 22.8%
CWAN Dec. 31, 2025 8,053 $145,115 No longer tracked
TEL Sept. 30, 2025 859 $144,888 0.4%
MAA Dec. 31, 2025 1,029 $143,782 -17.0%
EPAM Sept. 30, 2025 812 $143,578 -28.2%
MKC June 30, 2026 2,826 $142,543 -11.4%
TYL March 31, 2026 313 $142,086 -5.7%
ROK Sept. 30, 2025 427 $141,837 30.0%
TER June 30, 2025 1,577 $130,260 399.4%
WY June 30, 2026 5,203 $127,109 -22.8%
IFF Dec. 31, 2025 2,052 $126,280 22.3%
AIG Dec. 31, 2025 1,565 $122,915 -12.4%
VOYA June 30, 2025 1,785 $120,952 36.1%
USFD June 30, 2026 1,303 $120,150 -5.2%
LYFT March 31, 2026 6,186 $119,823 16.2%
APTV June 30, 2026 1,684 $116,937 -29.1%
EQNR March 31, 2026 4,917 $116,189 0.9%
AVTR June 30, 2025 7,131 $115,594 14.0%
PPL June 30, 2026 3,011 $115,020 -9.8%
NDSN June 30, 2026 422 $112,277 10.6%
RRX Dec. 31, 2025 768 $110,162 13.9%
INCY March 31, 2026 1,112 $109,832 22.5%
MRNA June 30, 2025 3,672 $104,101 588.7%
CRL June 30, 2026 588 $101,430 28.0%
CRBG Sept. 30, 2025 2,851 $101,211 6.2%
ALLE June 30, 2026 641 $93,131 9.8%
CSGP June 30, 2026 2,306 $93,024 -3.3%
FLR March 31, 2026 2,330 $92,338 7.0%
GPC June 30, 2026 863 $91,262 7.8%
LDOS June 30, 2025 657 $88,656 -25.4%
FSLR June 30, 2026 448 $88,372 -26.0%
CVX Dec. 31, 2025 562 $87,273 35.6%
TSCO June 30, 2026 1,889 $85,572 -1.6%
WTW June 30, 2026 286 $83,140 10.4%
HQY June 30, 2026 986 $82,400 -0.3%
HES Sept. 30, 2025 579 $80,215 No longer tracked
DECK Sept. 30, 2025 778 $80,189 -21.9%
BALL June 30, 2025 1,531 $79,719 0.5%
JCI June 30, 2025 951 $76,185 47.9%
FMC Dec. 31, 2025 2,263 $76,105 -39.1%
SWKS June 30, 2026 1,420 $76,041 25.4%
CR June 30, 2025 494 $75,671 9.6%
BAH June 30, 2026 959 $74,831 11.0%
ESTC Sept. 30, 2025 885 $74,632 11.2%
SGI Sept. 30, 2025 1,074 $73,086 -26.5%
ALGN June 30, 2025 459 $72,917 -24.1%
WDC June 30, 2025 1,776 $71,804 549.0%
EXLS June 30, 2026 2,328 $70,888 38.2%
CPB June 30, 2025 1,775 $70,858 -36.0%
MAS Dec. 31, 2025 1,001 $70,460 7.7%
NWL June 30, 2026 20,090 $68,909 -12.1%
BAX Dec. 31, 2025 2,998 $68,264 22.9%
KNX Dec. 31, 2025 1,690 $66,772 27.7%
EVR Sept. 30, 2025 245 $66,155 -22.4%
MOS June 30, 2026 2,552 $65,076 -0.6%
FLUT June 30, 2026 638 $65,044 -26.8%
RPRX June 30, 2025 2,060 $64,128 58.6%
SNAP March 31, 2026 7,836 $63,237 21.3%
MMYT June 30, 2026 1,669 $62,237 -16.3%
CAG June 30, 2025 2,281 $60,834 -34.7%
CFR June 30, 2026 440 $60,315 0.3%
KMX June 30, 2026 1,448 $60,208 3.8%
PINS June 30, 2026 3,240 $59,422 -8.4%
TCBI June 30, 2026 613 $58,161 -9.2%
TTD June 30, 2026 2,529 $57,383 -33.9%
TTC June 30, 2026 611 $57,092 1.3%
GEN June 30, 2026 2,865 $53,948 -11.7%
CE June 30, 2025 914 $51,888 -20.1%
JAZZ June 30, 2026 269 $50,854 -2.2%
LNG June 30, 2026 176 $49,942 12.9%
AKAM June 30, 2025 595 $47,898 36.6%
ROKU June 30, 2025 639 $45,011 73.4%
DPZ Dec. 31, 2025 101 $43,603 -28.6%
FSLR Dec. 31, 2025 182 $40,136 -33.2%
CDW June 30, 2026 301 $36,427 -5.2%
FNF Dec. 31, 2025 582 $35,205 -28.1%
WH June 30, 2025 385 $34,846 -11.6%
DOW Dec. 31, 2025 1,461 $33,501 19.6%
EDU June 30, 2025 694 $33,180 2.8%
STLA June 30, 2025 2,566 $28,443 -56.1%
SNDK June 30, 2025 592 $28,185 3692.7%
WMG June 30, 2026 1,054 $26,919 -0.9%
MRP June 30, 2025 845 $22,401 -13.7%
FUTU June 30, 2026 3 $410 9.0%