Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$433M in Q2 2013 → $1.86B 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 |
|---|---|---|---|---|
| SS Select Sector SPDR Tr | 12.3% | Added 41% | 1,200,431 | $229M |
| Microsoft Corp | 11.4% | Trimmed 1.2% | 568,388 | $212M |
| Intel Corp | 8.0% | Trimmed 50% | 1,067,407 | $149M |
| SI Safety Ins Group Inc | 7.2% | Unchanged | 1,794,655 | $134M |
| RH Renaissancere Hldgs Ltd | 6.6% | Unchanged | 388,478 | $123M |
| Amazon Com Inc | 5.8% | Unchanged | 450,434 | $107M |
| WG Ww Grainger Inc | 4.9% | Unchanged | 66,861 | $91M |
| SS Select Sector SPDR Tr | 4.8% | Unchanged | 556,818 | $88.3M |
| SS Select Sector SPDR Tr | 4.7% | Unchanged | 1,729,580 | $87.9M |
| SS Select Sector SPDR Tr | 4.6% | Unchanged | 800,774 | $85.8M |
| Alphabet Inc | 4.4% | Trimmed 0.5% | 228,868 | $81.8M |
| Merck & Co Inc | 3.2% | Unchanged | 463,298 | $59.5M |
| SS Select Sector SPDR Tr | 3.1% | Added 824% | 310,583 | $57.5M |
| Cvs Health Corp | 2.8% | Unchanged | 506,016 | $52.3M |
| Toyota Motor Corp | 2.6% | Trimmed 0.0% | 291,689 | $49.1M |
| GA Ge Aerospace | 2.4% | Trimmed 60% | 119,925 | $44.8M |
| SS Select Sector SPDR Tr | 2.2% | Added 720% | 488,831 | $40.6M |
| Sherwin Williams Co | 2.0% | Unchanged | 110,041 | $37.9M |
| Reliance Inc | 1.9% | Unchanged | 95,976 | $35.9M |
| CN Comcast Corp New | 1.4% | Unchanged | 1,096,685 | $26.9M |
| Procter & Gamble Co | 1.3% | Trimmed 29% | 165,402 | $24.3M |
| Walmart Inc | 1.2% | Trimmed 67% | 202,248 | $22.9M |
| SS Select Sector SPDR Tr | 1.0% | Unchanged | 154,540 | $18.1M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Intel Corp | Trimmed | −1,079,008 | −$151M | 8.0% |
| GA Ge Aerospace | Trimmed | −180,986 | −$67.6M | 2.4% |
| SS Select Sector SPDR Tr | Added | +347,007 | +$66.1M | 12.3% |
| SS Select Sector SPDR Tr | Added | +276,962 | +$51.3M | 3.1% |
| Walmart Inc | Trimmed | −418,331 | −$47.4M | 1.2% |
| SS Select Sector SPDR Tr | Added | +429,247 | +$35.7M | 2.2% |
| Procter & Gamble Co | Trimmed | −67,522 | −$9.9M | 1.3% |
| Microsoft Corp | Trimmed | −7,161 | −$2.67M | 11.4% |
| Alphabet Inc | Trimmed | −1,123 | −$401K | 4.4% |
| Toyota Motor Corp | Trimmed | −126 | −$21.2K | 2.6% |
quarter ended March 31, 2026 · filed May 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Microsoft Corp | Trimmed | −117,374 | −$43.4M | 13.1% |
| GA Ge Aerospace | Trimmed | −68,984 | −$19.6M | 5.2% |
| Walmart Inc | Trimmed | −106,471 | −$13.2M | 4.7% |
| RH Renaissancere Hldgs Ltd | Trimmed | −31,611 | −$9.4M | 7.1% |
| Procter & Gamble Co | Trimmed | −32,711 | −$4.72M | 2.1% |
| SI Safety Ins Group Inc | Trimmed | −47,629 | −$3.46M | 8.0% |
| Amazon Com Inc | Trimmed | −10,016 | −$2.09M | 5.8% |
| Intel Corp | Trimmed | −38,683 | −$1.71M | 5.8% |
| Cvs Health Corp | Trimmed | −20,839 | −$1.5M | 2.2% |
| WG Ww Grainger Inc | Trimmed | −1,338 | −$1.46M | 4.5% |
Showing the 10 largest of 15 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS Sel Sector:tech SPDR | Added | +452,800 | +$65.2M | 6.7% |
| SS Sel Sector:mat Ss SPDR | Added | +864,790 | +$39.2M | 4.3% |
| SS Sel Sctr:c D Ss SPDR In | Added | +77,270 | +$9.23M | 1.0% |
| CC Comcast Cl A Ord | Added | +89,535 | +$2.68M | 1.8% |
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS Sel Sector:tech SPDR | Added | +76,439 | +$21.5M | 6.5% |
| AC Amazon Com Ord | Trimmed | −29,822 | −$6.55M | 5.8% |
| CH Cvs Health Ord | Trimmed | −69,338 | −$5.23M | 2.3% |
| WO Walmart Ord | Trimmed | −40,452 | −$4.17M | 4.3% |
| GA Ge Aerospace Ord | Trimmed | −12,859 | −$3.87M | 6.4% |
| WG Ww Grainger Ord | Trimmed | −2,561 | −$2.44M | 3.7% |
| P& Procter & Gamble Ord | Trimmed | −15,127 | −$2.32M | 2.3% |
| M& Merck & Co Ord | Trimmed | −23,181 | −$1.95M | 2.3% |
| RO Renaissancere Ord | Trimmed | −1,570 | −$399K | 6.1% |
| TM Toyota Motor ADR Rep 10 Ord | Trimmed | −900 | −$172K | 3.3% |
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS Sel Sector:h Care SPDR | Added | +498,227 | +$67.2M | 4.5% |
| M& Merck & Co Ord | Trimmed | −748,990 | −$59.3M | 2.4% |
| SS Sel Sector:tech SPDR | Trimmed | −187,297 | −$47.4M | 4.9% |
| SS Sel Sector:matrls SPDR | Added | +134,501 | +$11.8M | 4.6% |
| SS Sel Sector:comm Svc SPDR | Added | +86,265 | +$9.36M | 5.2% |
| CH Cvs Health Ord | Trimmed | −82,795 | −$5.71M | 2.5% |
| MO Microsoft Ord | Trimmed | −89 | −$44.3K | 20.7% |
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VI Vanguard Infotch Idx ETF | Exited | −272,826 | −$170M | — |
| SS Sel Sector:tech SPDR | New | +511,482 | +$106M | 6.9% |
| SS Sel Sector:comm Svc SPDR | Added | +679,569 | +$65.5M | 4.5% |
| SS Sel Sector:matrls SPDR | Added | +694,800 | +$59.7M | 4.1% |
| IO Intel Ord | New | +2,185,098 | +$49.6M | 3.2% |
| SW Sherwin Williams Ord | Trimmed | −141,390 | −$49.4M | 2.6% |
| BH Berkshire Hathaway Cl B Ord | Exited | −106,799 | −$48.4M | — |
| RO Reliance Ord | Trimmed | −136,844 | −$39.5M | 1.9% |
| CC Comcast Cl A Ord | Trimmed | −1,002,697 | −$37M | 2.4% |
| CH Cvs Health Ord | Trimmed | −452,658 | −$30.7M | 3.0% |
Showing the 10 largest of 21 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IO Intel Ord | Exited | −4,398,974 | −$103M | — |
| VI Vanguard Infotch Idx ETF | Added | +139,176 | +$86.5M | 9.7% |
| SS Sel Sector:c Dsc SPDR | New | +17,692 | +$3.97M | 0.2% |
| SS Sel Sector:comm Svc SPDR | New | +34,940 | +$3.38M | 0.2% |
| SS Sel Sector:h Care SPDR | New | +24,429 | +$3.36M | 0.2% |
| SS Sel Sector:matrls SPDR | New | +35,489 | +$2.99M | 0.2% |
| SS Sel Sector:indust SPDR | New | +20,584 | +$2.71M | 0.2% |
| SS Sel Sector:c Stp SPDR | New | +26,265 | +$2.06M | 0.1% |
| TM Toyota Motor ADR Rep 10 Ord | Added | +7,708 | +$1.5M | 4.4% |
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IO Intel Ord | Added | +996,992 | +$23.4M | 5.8% |
| GV Ge Vernova Ord | Exited | −99,140 | −$17M | — |
| TM Toyota Motor ADR Rep 10 Ord | Added | +78,044 | +$13.9M | 3.9% |
| SW Sherwin Williams Ord | Added | +33,481 | +$12.8M | 5.4% |
| CC Comcast Cl A Ord | Added | +294,758 | +$12.3M | 4.7% |
| AC Amazon Com Ord | Added | +56,479 | +$10.5M | 5.1% |
| WG Ww Grainger Ord | Added | +8,159 | +$8.48M | 4.2% |
| VI Vanguard Infotch Idx ETF | Added | +6,058 | +$3.55M | 4.4% |
| M& Merck & Co Ord | Trimmed | −30,154 | −$3.42M | 8.3% |
| RO Renaissancere Ord | Trimmed | −7,075 | −$1.93M | 6.8% |
Showing the 10 largest of 11 changes.
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