AT
Act Two Investors LLC 13F Holdings & Position Changes (Q2 2026)
Act Two Investors LLCCIK: 0001766907
Momentum followerDiversified strategyQuality / disciplined sizing
Total reported value
$494.7M
Reporting period: 2026-06-30 · Number of holdings: 37
Act Two Investors LLC disclosed 37 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $494.7M and a quarterly turnover rate of 25.8%.
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Personality snowflake
- Concentration
- 26.89
- Portfolio Stability
- 25.83
- Momentum
- 100
- Sector conviction
- 61.03
- Diversification
- 74
- Sizing Uniformity
- 87.64
Act Two Investors LLC's disclosed holdings carry a Herfindahl concentration index of 0.067 — mathematically equivalent to about 15 equally-sized positions, well below its 37 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.24), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.2 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out DIS
Add LLY
+136.1% $15.6M
Trim ES
-41.8% -$11.2M
Add SYK
+319.7% $11.9M
Trim TMUS
-0.4% -$6.5M
New buy ACN
Holdings Map
New buyAddUnchangedTrim
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 14.94% | -0.04% | -11.57% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 10.79% | -0.86% | +0.36% | |
| 3 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 8.47% | +0.31% | -0.94% | |
| 4 | V | Visa Inc-class A Shares | Stock-Financials | 7.23% | +0.28% | +0.13% | |
| 5 | IQV | Iqvia Holdings Inc | Stock-Healthcare | 6.20% | +0.23% | +0.08% | |
| 6 | TMUS | T-mobile US Inc | Stock-Comm Services | 5.12% | -1.91% | -0.44% | |
| 7 | LLY | Eli Lilly & Co | Stock-Healthcare | 4.68% | +3.02% | +136.14% | |
| 8 | AAPL | Apple Inc | Stock-Tech | 4.52% | +0.20% | -0.01% | |
| 9 | NVDA | Nvidia CORP | Stock-Tech | 4.25% | +0.21% | +0.26% | |
| 10 | IEF | Ishares 7-10 Year Treasury B | ETF-Gov Bonds | 3.95% | -0.43% | -0.53% | |
| 11 | SLM | Slm CORP | Stock-Financials | 3.76% | +0.42% | +1.30% | |
| 12 | ADP | Automatic Data Processing | Stock-Tech | 3.60% | +1.50% | +70.00% | |
| 13 | ES | Eversource Energy | Stock-Utilities | 3.48% | -2.78% | -41.84% | |
| 14 | SYK | Stryker CORP | Stock-Healthcare | 3.20% | +2.33% | +319.70% | |
| 15 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.82% | +0.04% | — | |
| 16 | SCHR | Schwab Intermediate-term US | ETF-Other | 1.77% | -0.15% | +1.31% | |
| 17 | ACN | Accenture plc | Stock-Tech | 1.74% | +1.74% | NEW | |
| 18 | MCK | Mckesson CORP | Stock-Healthcare | 1.36% | -0.34% | — | |
| 19 | SCHO | Schwab Short-term US Treas | ETF-Other | 1.25% | -0.05% | +5.54% | |
| 20 | NFLX | Netflix Inc | Stock-Comm Services | 1.12% | +0.98% | +1087.61% | |
| 21 | INTU | Intuit Inc | Stock-Tech | 0.93% | -0.18% | +50.75% | |
| 22 | VGLT | Vanguard Long-term Treasury | ETF-Gov Bonds | 0.83% | -0.37% | -23.82% | |
| 23 | CNI | Canadian Natl Railway Co | Stock-Industrials | 0.80% | +0.05% | — | |
| 24 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.78% | -0.02% | -14.19% | |
| 25 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 0.68% | -0.05% | — | |
| 26 | CP | Canadian Pacific Kansas City | Stock-Industrials | 0.62% | +0.01% | — | |
| 27 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.40% | -0.05% | — | |
| 28 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.37% | -0.10% | — | |
| 29 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.29% | -0.02% | -4.24% | |
| 30 | MA | Mastercard Inc - A | Stock-Financials | 0.24% | +0.24% | NEW | |
| 31 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.20% | +0.04% | -0.77% | |
| 32 | AON | Aon plc | Stock-Financials | 0.15% | -0.01% | — | |
| 33 | EWBC | East West Bancorp Inc | Stock-Financials | 0.14% | +0.02% | — | |
| 34 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 0.13% | — | +2400.00% | |
| 35 | NXPI | NXP Semiconductors N.V. | Stock-Tech | 0.07% | +0.02% | — | |
| 36 | AXP | American Express Co | Stock-Financials | 0.07% | — | — | |
| 37 | ORCL | Oracle CORP | Stock-Tech | 0.05% | -0.01% | — |
Portfolio Performance
Performance for Q3 2026
+6.5%
Performance Last 4 Quarters
+14.1%
- Stdev
- +12.7%
- Beta
- +0.85
- Alpha
- -1.9%
- Max Drawdown
- -10.4%
- Annualized Perf
- +15.4%
- Batting Avg vs S&P
- +27.8%
- Sortino
- +2.43
- Stutzer
- +0.36
- Treynor
- +0.18
- Sterling
- +0.9
- Calmar
- +1.47
- Information Ratio
- -0.73
- Tracking Error
- +6.6%
- Stdev Down
- +6.3%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +28.5%
- Worst 12 Months
- +3.3%
- Efficiency Ratio
- +0.48
- Sharpe
- +1.19
- Stdev Sectors
- +9.3%
- Skewness
- +0.29
- Kurtosis
- -0.11
- Upside Potential
- +4.2
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 37 | $494.7M | 26 | ||
| 2026 Q1 | 36 | $453.2M | 32 | ||
| 2025 Q4 | 38 | $555.9M | 24 | ||
| 2025 Q3 | 39 | $564.2M | 52 | ||
| 2025 Q2 | 37 | $489.9M | 0 | ||
| 2025 Q1 | 41 | $471.8M | 100 | ||
| 2024 Q4 | 46 | $513.5M | 0 | ||
| 2024 Q3 | 45 | $530.1M | 0 | ||
| 2024 Q2 | 49 | $505.2M | 0 | ||
| 2024 Q1 | 48 | $497.9M | 0 | ||
| 2023 Q4 | 47 | $463.0M | 0 | ||
| 2023 Q3 | 36 | $373.8M | 0 | ||
| 2023 Q2 | 38 | $357.5M | 0 | ||
| 2023 Q1 | 32 | $250.9M | 0 | ||
| 2022 Q4 | 24 | $96.8M | 0 | ||
| 2022 Q3 | 24 | $98.8M | 0 | ||
| 2022 Q2 | 25 | $106.0M | 0 | ||
| 2022 Q1 | 25 | $126.1M | 0 | ||
| 2021 Q4 | 26 | $126.9M | 0 | ||
| 2021 Q3 | 29 | $421.4M | 0 | ||
| 2021 Q2 | 34 | $511.8M | 100 | ||
| 2021 Q1 | 34 | $453.9M | 22 | ||
| 2020 Q4 | 36 | $396.4M | 39 | ||
| 2020 Q3 | 31 | $309.2M | 36 | ||
| 2020 Q2 | 30 | $267.6M | 44 | ||
| 2020 Q1 | 28 | $216.3M | 40 | ||
| 2019 Q4 | 39 | $263.9M | 34 | ||
| 2019 Q3 | 38 | $226.6M | 32 | ||
| 2019 Q2 | 37 | $192.3M | 30 | ||
| 2019 Q1 | 38 | $173.9M | 30 | ||
| 2018 Q4 | 36 | $142.3M | — |
Holding changes this quarter
Act Two Investors LLC's most significant position changes for 2026-06-30: Sold out: Walt Disney Co/the (DIS); New buy: Accenture plc (ACN); New buy: Mastercard Inc - A (MA); Add: Eli Lilly & Co (LLY) — shares +136.14%; Trim: Eversource Energy (ES) — shares -41.84%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | LLY | Eli Lilly & Co | +3% | +136.14% | Add |
| 2 | SYK | Stryker CORP | +2.3% | +319.70% | Add |
| 3 | ACN | Accenture plc | +1.7% | NEW | New buy |
| 4 | ADP | Automatic Data Processing | +1.5% | +70.00% | Add |
| 5 | NFLX | Netflix Inc | +1% | +1087.61% | Add |
| 6 | SLM | Slm CORP | +0.4% | +1.30% | Add |
| 7 | AMZN | Amazon.com Inc | +0.3% | -0.94% | Trim |
| 8 | V | Visa Inc-class A Shares | +0.3% | +0.13% | Add |
| 9 | MA | Mastercard Inc - A | +0.2% | NEW | New buy |
| 10 | IQV | Iqvia Holdings Inc | +0.2% | +0.08% | Add |
| 11 | NVDA | Nvidia CORP | +0.2% | +0.26% | Add |
| 12 | AAPL | Apple Inc | +0.2% | -0.01% | Trim |
| 13 | CNI | Canadian Natl Railway Co | +0.1% | — | Unchanged |
| 14 | JPM | Jpmorgan Chase & Co | 0% | — | Unchanged |
| 15 | TSM | Taiwan Semiconductor-sp Adr | 0% | -0.77% | Trim |
| 16 | EWBC | East West Bancorp Inc | 0% | — | Unchanged |
| 17 | NXPI | NXP Semiconductors N.V. | 0% | — | Unchanged |
| 18 | CP | Canadian Pacific Kansas City | 0% | — | Unchanged |
| 19 | AXP | American Express Co | — | — | Unchanged |
| 20 | BKNG | Booking Holdings Inc | — | +2400.00% | Add |
| 21 | AON | Aon plc | 0% | — | Unchanged |
| 22 | ORCL | Oracle CORP | 0% | — | Unchanged |
| 23 | GOOGL | Alphabet Inc-cl A | 0% | -14.19% | Trim |
| 24 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | -4.24% | Trim |
| 25 | GOOG | Alphabet Inc-cl C | 0% | -11.57% | Trim |
| 26 | SCHO | Schwab Short-term US Treas | -0.1% | +5.54% | Add |
| 27 | TMO | Thermo Fisher Scientific Inc | -0.1% | — | Unchanged |
| 28 | META | Meta Platforms Inc-class A | -0.1% | — | Unchanged |
| 29 | MCD | Mcdonald's CORP | -0.1% | — | Unchanged |
| 30 | SCHR | Schwab Intermediate-term US | -0.2% | +1.31% | Add |
| 31 | INTU | Intuit Inc | -0.2% | +50.75% | Add |
| 32 | MCK | Mckesson CORP | -0.3% | — | Unchanged |
| 33 | VGLT | Vanguard Long-term Treasury | -0.4% | -23.82% | Trim |
| 34 | IEF | Ishares 7-10 Year Treasury B | -0.4% | -0.53% | Trim |
| 35 | MSFT | Microsoft CORP | -0.9% | +0.36% | Add |
| 36 | TMUS | T-mobile US Inc | -1.9% | -0.44% | Trim |
| 37 | ES | Eversource Energy | -2.8% | -41.84% | Trim |
| 38 | DIS | Walt Disney Co/the | -4.3% | EXIT | Sold out |
Filing History
FAQ
What is Act Two Investors LLC and what type of investor is it?
Act Two Investors LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $494.7M, spread across 37 disclosed positions.
What are Act Two Investors LLC's largest equity positions?
Based on the latest 13F filing, Act Two Investors LLC's top holdings by market value are:
1. Alphabet Inc-cl C (GOOG) — $73.9M (14.9%)
2. Microsoft CORP (MSFT) — $53.4M (10.8%)
3. Amazon.com Inc (AMZN) — $41.9M (8.5%)
4. Visa Inc-class A Shares (V) — $35.8M (7.2%)
5. Iqvia Holdings Inc (IQV) — $30.7M (6.2%)
What changes did Act Two Investors LLC make in its most recent portfolio filing?
In the latest reported quarter, Act Two Investors LLC made 26 notable position adjustments: 2 new positions were initiated, 13 existing holdings were added to, 10 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Walt Disney Co/the (DIS); New buy: Accenture plc (ACN); New buy: Mastercard Inc - A (MA); Add: Eli Lilly & Co (LLY) — shares +136.14%; Trim: Eversource Energy (ES) — shares -41.84%
What sectors does Act Two Investors LLC focus on?
Act Two Investors LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 28.5%
• Communication Services: 24.3%
• Health Care: 17.5%
• Financials: 14.6%
• Consumer Discretionary: 9.8%
• Utilities: 3.8%
Investment Profile
Act Two Investors LLC returned an annualized 15.4% over the trailing 36 months — underperforming the S&P 500 by 1.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.85 (less volatile than the market) and a 28% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active.
Its turnover score has risen from 0 to 26 over the past 4 quarters — a shift toward more active trading.
It has added to its SLM position over the past two quarters (+$17.6M, now $18.6M), while trimming ES over the same stretch (-$11.4M, still holding $17.2M).
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Developer Access
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