Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (27 quarters reported)
$6.51B in Q4 2019 → $8.39B now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Arch Capital Group Ltd | 4.4% | Trimmed 6.8% | 3,799,789 | $369M |
| Alphabet Inc | 2.6% | Trimmed 3.1% | 610,192 | $216M |
| Amphenol Corp | 2.5% | Trimmed 6.0% | 1,176,112 | $207M |
| Ross Stores Inc | 2.3% | Trimmed 37% | 886,641 | $189M |
| Paccar Inc | 2.1% | Trimmed 6.7% | 1,478,618 | $178M |
| Texas Instruments Inc | 2.0% | Trimmed 5.4% | 575,695 | $172M |
| Amazon.com Inc | 1.9% | Trimmed 1.6% | 656,264 | $156M |
| CC Carlisle Cos Inc | 1.8% | Trimmed 7.1% | 421,406 | $153M |
| CC Cdw Corp/de | 1.8% | Trimmed 3.1% | 1,070,495 | $151M |
| Mks Inc | 1.7% | Trimmed 6.4% | 316,694 | $141M |
| Keysight Technologies Inc | 1.7% | Trimmed 5.9% | 398,124 | $139M |
| Brown & Brown Inc | 1.7% | Trimmed 6.4% | 2,161,022 | $139M |
| Labcorp Holdings Inc | 1.6% | Trimmed 2.8% | 476,643 | $133M |
| Visa Inc | 1.6% | Trimmed 1.8% | 382,662 | $131M |
| Medpace Holdings Inc | 1.5% | Trimmed 7.2% | 243,502 | $129M |
| Analog Devices Inc | 1.5% | Trimmed 7.2% | 313,234 | $124M |
| Teledyne Technologies Inc | 1.5% | Trimmed 7.4% | 183,824 | $123M |
| Msa Safety Inc | 1.4% | Added 12% | 660,573 | $115M |
| Copart Inc | 1.3% | Added 3.2% | 4,013,460 | $113M |
| Moelis & Co | 1.3% | Trimmed 6.0% | 1,667,157 | $109M |
| WB Wr Berkley Corp | 1.3% | Trimmed 7.5% | 1,497,784 | $106M |
| Waters Corp | 1.3% | Added 2.6% | 279,856 | $105M |
| A O Smith Corp | 1.1% | Added 28% | 1,466,922 | $92M |
| LM Liberty Media Corp-liberty For | 1.1% | Trimmed 9.9% | 964,340 | $91.7M |
| Parker-hannifin Corp | 1.0% | Trimmed 5.1% | 88,312 | $86.4M |
| Danaher Corp | 1.0% | Trimmed 9.4% | 448,611 | $85.5M |
| Ferguson Enterprises Inc | 1.0% | Trimmed 4.7% | 355,611 | $84.4M |
| IS Invesco S&P 500 Quality ETF | 1.0% | Trimmed 27% | 936,702 | $84.4M |
| Agilent Technologies Inc | 1.0% | Added 3.9% | 631,763 | $83.9M |
| Microsoft Corp | 1.0% | Added 0.9% | 217,910 | $81.3M |
| Floor & Decor Holdings Inc | 0.9% | Trimmed 2.9% | 1,329,870 | $78.9M |
| CS Charles Schwab Corp/the | 0.9% | Added 17% | 847,868 | $78.2M |
| Bio-techne Corp | 0.9% | Trimmed 2.7% | 1,063,473 | $75.1M |
| Gartner Inc | 0.9% | Trimmed 6.3% | 574,609 | $74.5M |
| Progressive Corp | 0.9% | Trimmed 3.3% | 338,343 | $73.9M |
| EI Expeditors International Of Wa | 0.9% | Trimmed 8.6% | 448,305 | $73.1M |
| Verisk Analytics Inc | 0.9% | New | 398,522 | $71.5M |
| BA Brookfield Asset Management Lt | 0.8% | Trimmed 6.2% | 1,570,419 | $70.4M |
| LC Lowe's Cos Inc | 0.8% | Trimmed 4.5% | 315,223 | $69.5M |
| Lithia Motors Inc | 0.8% | Trimmed 0.9% | 230,604 | $67M |
| EL Eli Lilly & Co | 0.8% | Added 2.6% | 55,520 | $66.6M |
| Thor Industries Inc | 0.8% | Trimmed 8.7% | 881,017 | $66.2M |
| TC Tjx Cos Inc | 0.8% | Trimmed 0.8% | 429,842 | $65.1M |
| Nextera Energy Inc | 0.8% | Added 5.8% | 724,014 | $63.5M |
| VF Vanguard Ftse All-world Ex-us | 0.8% | Added 2.8% | 758,447 | $63.5M |
| Cullen/frost Bankers Inc | 0.7% | Added 20% | 403,055 | $62.3M |
| Asbury Automotive Group Inc | 0.7% | Trimmed 2.4% | 301,332 | $60.6M |
| Glacier Bancorp Inc | 0.7% | Added 23% | 1,144,784 | $59M |
| Apple Inc | 0.7% | Trimmed 0.1% | 200,934 | $58.1M |
| M& Marsh & Mclennan Cos Inc | 0.7% | Trimmed 3.6% | 342,975 | $57.2M |
| Servicetitan Inc | 0.7% | Trimmed 12% | 793,636 | $56.1M |
| Brookfield Corp | 0.7% | Trimmed 4.6% | 1,306,755 | $55.7M |
| MA Madison Aggregate Bond ETF | 0.6% | Trimmed 3.3% | 2,634,812 | $53.3M |
| MD Madison Dividend Value ETF | 0.6% | Added 0.7% | 2,163,006 | $52.5M |
| JH Janus Henderson Mortgage-backe | 0.6% | Trimmed 7.0% | 1,106,482 | $49.8M |
| HA Honeywell Aerospace Inc | 0.6% | New | 224,998 | $49.7M |
| Jpmorgan Chase & Co | 0.6% | Added 3.6% | 147,323 | $48.2M |
| Graco Inc | 0.6% | Added 39% | 620,162 | $46.9M |
| VF Victoryshares Free Cash Flow E | 0.5% | Added 111% | 1,003,856 | $45.9M |
| Meta Platforms Inc | 0.5% | Trimmed 9.6% | 80,663 | $45.4M |
Showing top 60 of 347 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 10, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Ross Stores Inc | Trimmed | −526,283 | −$112M | 2.3% |
| Arista Networks Inc | Trimmed | −505,710 | −$85.9M | 0.4% |
| Verisk Analytics Inc | New | +398,522 | +$71.5M | 0.9% |
| Honeywell International Inc | Exited | −306,928 | −$69.4M | — |
| Liberty Broadband Corp | Exited | −1,188,921 | −$59.8M | — |
| HA Honeywell Aerospace Inc | New | +224,998 | +$49.7M | 0.6% |
| Honeywell International Inc | New | +198,913 | +$44.5M | 0.5% |
| Intercontinental Exchange Inc | New | +323,573 | +$39.8M | 0.5% |
| Exxon Mobil Corp | Exited | −212,258 | −$36M | — |
| VI Vanguard Information Technolog | Added | +300,021 | +$35.9M | 0.5% |
Showing the 10 largest of 334 changes.
quarter ended March 31, 2026 · filed May 07, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mks Inc | Trimmed | −583,114 | −$134M | 1.0% |
| Paccar Inc | Trimmed | −697,074 | −$80.5M | 2.3% |
| Tyler Technologies Inc | New | +160,289 | +$54.9M | 0.7% |
| Meta Platforms Inc | Added | +85,542 | +$48.9M | 0.6% |
| Alphabet Inc | Trimmed | −140,409 | −$40.3M | 2.2% |
| Bentley Systems Inc | New | +981,380 | +$34.5M | 0.4% |
| Starbucks Corp | Trimmed | −364,882 | −$32.7M | — |
| Moelis & Co | Added | +555,557 | +$31.7M | 1.3% |
| Accenture PLC | Trimmed | −157,756 | −$31.3M | 0.2% |
| Broadcom Inc | Added | +96,265 | +$29.8M | 0.4% |
Showing the 10 largest of 326 changes.
quarter ended December 31, 2025 · filed February 04, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Amphenol Corp | Trimmed | −1,101,861 | −$149M | 2.1% |
| Trex Co Inc | Exited | −1,893,081 | −$97.8M | — |
| Msa Safety Inc | New | +568,244 | +$91M | 1.0% |
| Microchip Technology Inc | Trimmed | −1,425,629 | −$90.8M | 0.1% |
| A O Smith Corp | New | +1,209,405 | +$80.9M | 0.9% |
| Servicetitan Inc | New | +638,075 | +$68M | 0.8% |
| Honeywell International Inc | Added | +194,000 | +$37.8M | 0.8% |
| Arch Capital Group Ltd | Trimmed | −375,516 | −$36M | 4.8% |
| SS SPDR S&P Midcap 400 ETF Trust | Added | +59,283 | +$35.8M | 0.6% |
| Fiserv Inc | Trimmed | −455,449 | −$30.6M | 0.1% |
Showing the 10 largest of 325 changes.
quarter ended September 30, 2025 · filed November 06, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Arista Networks Inc | Trimmed | −493,789 | −$71.9M | 1.2% |
| Mks Inc | Trimmed | −487,592 | −$60.3M | 1.3% |
| Bio-techne Corp | New | +744,651 | +$41.4M | 0.5% |
| Elevance Health Inc | Trimmed | −126,753 | −$41M | 0.1% |
| Msci Inc | New | +70,672 | +$40.1M | 0.4% |
| A Alcon Inc | Trimmed | −506,966 | −$37.8M | 0.3% |
| Liberty Broadband Corp | Trimmed | −439,950 | −$28M | 0.9% |
| Alphabet Inc | Trimmed | −102,530 | −$25M | 2.3% |
| JI Jpmorgan International Researc | New | +310,862 | +$22.9M | 0.3% |
| Illinois Tool Works Inc | Added | +70,704 | +$18.4M | 0.3% |
Showing the 10 largest of 320 changes.
quarter ended June 30, 2025 · filed August 11, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Dollar Tree Inc | Exited | −1,709,331 | −$128M | — |
| Berkshire Hathaway Inc | Trimmed | −202,893 | −$98.6M | 0.2% |
| Medpace Holdings Inc | Added | +287,365 | +$90.2M | 1.0% |
| CC Cdw Corp/de | Added | +487,991 | +$87.2M | 2.6% |
| Alphabet Inc | Trimmed | −370,684 | −$65.8M | 1.8% |
| Brown-forman Corp | Exited | −1,886,816 | −$64M | — |
| Gartner Inc | Added | +150,623 | +$60.9M | 3.1% |
| Arista Networks Inc | Added | +553,831 | +$56.7M | 1.4% |
| Floor & Decor Holdings Inc | Added | +564,309 | +$42.9M | 1.3% |
| Airbnb Inc | New | +259,096 | +$34.3M | 0.4% |
Showing the 10 largest of 329 changes.
quarter ended March 31, 2025 · filed May 06, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Trex Co Inc | New | +1,890,732 | +$110M | 1.2% |
| Kinsale Capital Group Inc | New | +156,634 | +$76.2M | 0.8% |
| Armstrong World Industries Inc | Trimmed | −529,920 | −$74.6M | — |
| U.s. Bancorp | Trimmed | −1,623,332 | −$68.5M | 0.2% |
| Arista Networks Inc | Trimmed | −539,926 | −$41.8M | 0.6% |
| MI Mks Instruments Inc | Added | +494,207 | +$39.6M | 1.3% |
| CC Carlisle Cos Inc | Added | +113,312 | +$38.6M | 2.0% |
| Arch Capital Group Ltd | Added | +397,857 | +$38.3M | 5.2% |
| Elevance Health Inc | Added | +87,491 | +$38.1M | 0.7% |
| DC Danaher Corp Com Usd0.01 | Added | +172,763 | +$35.4M | 1.0% |
Showing the 10 largest of 329 changes.
quarter ended December 31, 2024 · filed February 10, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Arista Networks Inc | New | +1,208,442 | +$134M | 1.5% |
| Arista Networks Inc | Exited | −277,469 | −$106M | — |
| Carmax Inc | Trimmed | −710,437 | −$58.1M | — |
| CC Cdw Corp/de | Added | +250,125 | +$43.5M | 1.5% |
| Microchip Technology Inc | Added | +615,278 | +$35.3M | 0.9% |
| SI Schwab Intermediate-term U.s. | Added | +1,221,783 | +$29.7M | 0.6% |
| Moelis & Co | Trimmed | −394,434 | −$29.1M | 1.0% |
| Ross Stores Inc | Added | +172,622 | +$26.1M | 2.6% |
| Parker-hannifin Corp | Trimmed | −38,228 | −$24.3M | 0.9% |
| Dollar Tree Inc | Trimmed | −300,895 | −$22.5M | 1.3% |
Showing the 10 largest of 301 changes.
quarter ended September 30, 2024 · filed November 12, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Keysight Technologies Inc | New | +545,426 | +$86.7M | 1.0% |
| Asbury Automotive Group Inc | New | +306,580 | +$73.1M | 0.8% |
| Lithia Motors Inc | New | +230,251 | +$73.1M | 0.8% |
| VI Vanguard Information Technolog | Trimmed | −98,012 | −$57.5M | 0.5% |
| TC Tjx Cos Inc | Trimmed | −418,302 | −$49.2M | 0.7% |
| Carmax Inc | Trimmed | −612,898 | −$47.4M | 0.6% |
| Blackrock Inc | Exited | −56,255 | −$44.3M | — |
| Blackrock Inc | New | +39,023 | +$37.1M | 0.4% |
| Graco Inc | New | +411,729 | +$36M | 0.4% |
| WB Wr Berkley Corp | Added | +601,376 | +$34.1M | 1.0% |
Showing the 10 largest of 310 changes.
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