Act Two Investors LLC 13F Filing History & Holdings

CIK: 0001766907

Momentum followerQuality / disciplined sizingDiversified strategy

Total reported value

$453.2M

Reporting period: 2026-03-31 · Number of holdings: 36

Act Two Investors LLC disclosed 36 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $453.2M and a quarterly turnover rate of 32.1%.

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Personality snowflake

Concentration: 28.3
Portfolio Stability: 32.07
Momentum/Contrarian: 100
Sector conviction: 61.93
Diversification: 72
Sizing Uniformity: 87.38

Act Two Investors LLC's disclosed holdings carry a Herfindahl concentration index of 0.071 — mathematically equivalent to about 14 equally-sized positions, well below its 36 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 1.26), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Add SLM
+1786.2%　$14.1M
Trim CNI
-77.4%　-$11.1M
Add TMUS
-3.4%　-$27.4K
Add ES
-3.7%　-$264.1K
Trim NFLX
-90.8%　-$6.1M
Trim MSFT
-2.3%　-$17.8M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	GOOG	Alphabet Inc-cl C	Stock-Comm Services	14.98%	+0.63%	-6.92%
2	MSFT	Microsoft CORP	Stock-Tech	11.65%	-1.05%	-2.27%
3	AMZN	Amazon.com INC	Stock-Consumer Disc	8.16%	+0.62%	-2.24%
4	TMUS	T-mobile US INC	Stock-Comm Services	7.03%	+1.29%	-3.41%
5	V	Visa Inc-class A Shares	Stock-Financials	6.95%	+0.47%	+1.48%
6	ES	Eversource Energy	Stock-Utilities	6.26%	+1.11%	-3.71%
7	IQV	Iqvia Holdings INC	Stock-Healthcare	5.97%	-0.71%	-3.72%
8	IEF	Ishares 7-10 Year Treasury B	ETF-Gov Bonds	4.38%	+0.23%	-13.30%
9	AAPL	Apple INC	Stock-Tech	4.32%	+0.31%	-5.93%
10	DIS	Walt Disney Co/the	Stock-Comm Services	4.28%	+0.81%	+18.88%
11	NVDA	Nvidia CORP	Stock-Tech	4.04%	+0.55%	+0.90%
12	SLM	Slm CORP	Stock-Financials	3.34%	+3.16%	+1786.17%
13	ADP	Automatic Data Processing	Stock-Tech	2.10%	+2.10%	NEW
14	SCHR	Schwab Intermediate-term US	ETF-Other	1.92%	+0.26%	-4.97%
15	JPM	Jpmorgan Chase & Co	Stock-Financials	1.78%	+0.14%	-2.81%
16	MCK	Mckesson CORP	Stock-Healthcare	1.70%	+0.38%	—
17	LLY	Eli Lilly & Co	Stock-Healthcare	1.66%	+0.03%	-3.15%
18	SCHO	Schwab Short-term US Treas	ETF-Other	1.30%	+0.05%	-15.14%
19	VGLT	Vanguard Long-term Treasury	ETF-Gov Bonds	1.19%	+0.12%	-9.16%
20	INTU	Intuit INC	Stock-Tech	1.11%	+1.11%	NEW
21	SYK	Stryker CORP	Stock-Healthcare	0.87%	+0.11%	-0.73%
22	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.80%	-0.02%	-13.30%
23	CNI	Canadian Natl Railway Co	Stock-Industrials	0.75%	-1.85%	-77.44%
24	TMO	Thermo Fisher Scientific INC	Stock-Healthcare	0.73%	+0.03%	—
25	CP	Canadian Pacific Kansas City	Stock-Industrials	0.61%	+0.14%	—
26	MCD	Mcdonald's CORP	Stock-Consumer Disc	0.47%	+0.10%	—
27	META	Meta Platforms Inc-class A	Stock-Comm Services	0.45%	+0.03%	—
28	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	0.31%	+0.02%	-9.07%
29	AON	Aon plc	Stock-Financials	0.16%	+0.02%	—
30	TSM	Taiwan Semiconductor-sp Adr	Stock-Tech	0.15%	+0.05%	—
31	NFLX	Netflix INC	Stock-Comm Services	0.14%	-1.06%	-90.81%
32	BKNG	Booking Holdings INC	Stock-Consumer Disc	0.13%	-0.01%	—
33	EWBC	East West Bancorp INC	Stock-Financials	0.12%	+0.01%	—
34	AXP	American Express Co	Stock-Financials	0.07%	—	—
35	ORCL	Oracle CORP	Stock-Tech	0.06%	-0.07%	-53.54%
36	NXPI	NXP Semiconductors N.V.	Stock-Tech	0.05%	-0.13%	-74.72%

Portfolio Performance

Performance for Q3 2026

+0.3%

Performance Last 4 Quarters

+15.1%

Based on 71% of reported portfolio value with available pricing

Stdev: +13.3%
Beta: +0.89
Alpha: -3.3%
Max Drawdown: -10.2%
Annualized Perf: +13%
Batting Avg vs S&P: +38.9%
Sortino: +2.04
Stutzer: +0.3
Treynor: +0.15
Sterling: +0.73
Calmar: +1.28
Information Ratio: -0.79
Tracking Error: +6.7%
Stdev Down: +6.4%
Winning Months %: +63.9%
Losing Months %: +36.1%
Best 12 Months: +29.8%
Worst 12 Months: +2.7%
Efficiency Ratio: +0.41
Sharpe: +0.98
Stdev Sectors: +9.5%
Skewness: +0.8
Kurtosis: +1.34
Upside Potential: +3.84

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	36	$453.2M	32	1GOOG 2MSFT 3AMZN Top holdings2026-03-31 1.GOOG 2.MSFT 3.AMZN 4.TMUS 5.V 6.ES 7.IQV 8.IEF 9.AAPL 10.DIS
2025-12-31	38	$555.9M	24	1GOOG 2MSFT 3AMZN Top holdings2025-12-31 1.GOOG 2.MSFT 3.AMZN 4.IQV 5.V 6.AZNN 7.TMUS 8.ES 9.IEF 10.AAPL
2025-09-30	39	$564.2M	52	1MSFT 2GOOG 3AMZN Top holdings2025-09-30 1.MSFT 2.GOOG 3.AMZN 4.TMUS 5.V 6.IQV 7.ES 8.AZNN 9.IEF 10.ARE
2025-06-30	37	$489.9M	0	1MSFT 2GOOG 3AMZN Top holdings2025-06-30 1.MSFT 2.GOOG 3.AMZN 4.V 5.TMUS 6.ES 7.IQV 8.AZNN 9.FISV 10.IEF
2025-03-31	41	$471.8M	100	1MSFT 2TMUS 3GOOG Top holdings2025-03-31 1.MSFT 2.TMUS 3.GOOG 4.V 5.AMZN 6.SYY 7.PRU 8.NXPI 9.AZNN 10.AAPL
2024-12-31	46	$513.5M	0	1MSFT 2GOOG 3AMZN Top holdings2024-12-31 1.MSFT 2.GOOG 3.AMZN 4.TMUS 5.V 6.NXPI 7.SYY 8.NOC 9.AAPL 10.IEF
2024-09-30	45	$530.1M	0	1MSFT 2GOOG 3TMUS Top holdings2024-09-30 1.MSFT 2.GOOG 3.TMUS 4.UNH 5.AMZN 6.NXPI 7.V 8.NOC 9.AZNN 10.AAPL
2024-06-30	49	$505.2M	0	1MSFT 2GOOG 3AMZN Top holdings2024-06-30 1.MSFT 2.GOOG 3.AMZN 4.NXPI 5.TMUS 6.UNH 7.V 8.AZNN 9.NOC 10.AAPL
2024-03-31	48	$497.9M	0	1MSFT 2GOOG 3NXPI Top holdings2024-03-31 1.MSFT 2.GOOG 3.NXPI 4.AMZN 5.TMUS 6.UNH 7.V 8.NOC 9.VGLT 10.AZNN
2023-12-31	47	$463.0M	0	1MSFT 2GOOG 3NXPI Top holdings2023-12-31 1.MSFT 2.GOOG 3.NXPI 4.TMUS 5.UNH 6.AMZN 7.V 8.NOC 9.VGLT 10.AAPL
2023-09-30	36	$373.8M	0	1MSFT 2GOOG 3NXPI Top holdings2023-09-30 1.MSFT 2.GOOG 3.NXPI 4.UNH 5.TMUS 6.AMZN 7.NOC 8.VGLT 9.V 10.AAPL
2023-06-30	38	$357.5M	0	1MSFT 2GOOG 3NXPI Top holdings2023-06-30 1.MSFT 2.GOOG 3.NXPI 4.AMZN 5.TMUS 6.UNH 7.NOC 8.AAPL 9.V 10.JNJ
2023-03-31	32	$250.9M	0	1MSFT 2GOOG 3NXPI Top holdings2023-03-31 1.MSFT 2.GOOG 3.NXPI 4.TMUS 5.NOC 6.UNH 7.AMZN 8.AAPL 9.V 10.SYY
2022-12-31	24	$96.8M	0	1MSFT 2GOOG 3NXPI Top holdings2022-12-31 1.MSFT 2.GOOG 3.NXPI 4.V 5.AAPL 6.AMZN 7.NOC 8.TMUS 9.TMO 10.CNI
2022-09-30	24	$98.8M	0	1MSFT 2AAPL 3GOOG Top holdings2022-09-30 1.MSFT 2.AAPL 3.GOOG 4.NXPI 5.AMZN 6.V 7.NOC 8.TMUS 9.TMO 10.CNI
2022-06-30	25	$106.0M	0	1MSFT 2GOOG 3AAPL Top holdings2022-06-30 1.MSFT 2.GOOG 3.AAPL 4.NXPI 5.AMZN 6.V 7.TMUS 8.NOC 9.TMO 10.CNI
2022-03-31	25	$126.1M	0	1MSFT 2GOOG 3AAPL Top holdings2022-03-31 1.MSFT 2.GOOG 3.AAPL 4.AMZN 5.NXPI 6.V 7.NOC 8.TMUS 9.TMO 10.CNI
2021-12-31	26	$126.9M	0	1MSFT 2GOOG 3AAPL Top holdings2021-12-31 1.MSFT 2.GOOG 3.AAPL 4.NXPI 5.AMZN 6.V 7.TMO 8.NOC 9.TMUS 10.JPM
2021-09-30	29	$421.4M	0	1MSFT 2GOOG 3NXPI Top holdings2021-09-30 1.MSFT 2.GOOG 3.NXPI 4.PRU 5.AMZN 6.UNH 7.NOC 8.TMUS 9.SCHO 10.AAPL
2021-06-30	34	$511.8M	100	1MSFT 2GOOG 3NXPI Top holdings2021-06-30 1.MSFT 2.GOOG 3.NXPI 4.META 5.PRU 6.KSUEUR 7.TMUS 8.AMZN 9.UNH 10.XLF
2021-03-31	34	$453.9M	22	1MSFT 2NXPI 3GOOG Top holdings2021-03-31 1.MSFT 2.NXPI 3.GOOG 4.KSUEUR 5.PRU 6.META 7.TMUS 8.AMZN 9.XLF 10.MRK
2020-12-31	36	$396.4M	39	1MSFT 2NXPI 3GOOG Top holdings2020-12-31 1.MSFT 2.NXPI 3.GOOG 4.AMZN 5.TMUS 6.PRU 7.META 8.KSUEUR 9.MRK 10.XLF
2020-09-30	31	$309.2M	36	1MSFT 2AMZN 3GOOG Top holdings2020-09-30 1.MSFT 2.AMZN 3.GOOG 4.NXPI 5.TMUS 6.META 7.MRK 8.KSUEUR 9.AAPL 10.SCHO
2020-06-30	30	$267.6M	44	1MSFT 2AMZN 3GOOG Top holdings2020-06-30 1.MSFT 2.AMZN 3.GOOG 4.NXPI 5.TMUS 6.KSUEUR 7.META 8.ENB 9.T 10.SCHO
2020-03-31	28	$216.3M	40	1MSFT 2AMZN 3GOOG Top holdings2020-03-31 1.MSFT 2.AMZN 3.GOOG 4.KSUEUR 5.SCHO 6.T 7.ENB 8.META 9.NXPI 10.BKNG
2019-12-31	39	$263.9M	34	1MSFT 2T 3GOOG Top holdings2019-12-31 1.MSFT 2.T 3.GOOG 4.KSUEUR 5.NXPI 6.ENB 7.BKNG 8.GM 9.AMZN 10.AAPL
2019-09-30	38	$226.6M	32	1MSFT 2T 3GOOG Top holdings2019-09-30 1.MSFT 2.T 3.GOOG 4.KSUEUR 5.BKNG 6.ENB 7.GM 8.124857 9.AAPL 10.SCHO
2019-06-30	37	$192.3M	30	1MSFT 2T 3GOOG Top holdings2019-06-30 1.MSFT 2.T 3.GOOG 4.GM 5.KSUEUR 6.ENB 7.BKNG 8.UPS 9.124857 10.SCHO
2019-03-31	38	$173.9M	30	1MSFT 2GOOG 3T Top holdings2019-03-31 1.MSFT 2.GOOG 3.T 4.ENB 5.GM 6.KSUEUR 7.BKNG 8.G0177J 9.UPS 10.BRK-B
2018-12-31	36	$142.3M	—	1MSFT 2GOOG 3T Top holdings2018-12-31 1.MSFT 2.GOOG 3.T 4.GM 5.ENB 6.BRK-B 7.BKNG 8.KSUEUR 9.AAPL 10.G0177J

Holding changes this quarter

Act Two Investors LLC's most significant position changes for 2026-03-31: Sold out: Astrazeneca Plc-spons Adr (AZNN); Sold out: Adobe INC (ADBE); New buy: Automatic Data Processing (ADP); New buy: Intuit INC (INTU); Sold out: Ss Financial Select Sector (XLF).

Position changes disclosed by Act Two Investors LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	SLM	Slm CORP	+3.2%	+1786.17%	Add
2	TMUS	T-mobile US INC	+1.3%	-3.41%	Trim
3	ES	Eversource Energy	+1.1%	-3.71%	Trim
4	DIS	Walt Disney Co/the	+0.8%	+18.88%	Add
5	GOOG	Alphabet Inc-cl C	+0.6%	-6.92%	Trim
6	AMZN	Amazon.com INC	+0.6%	-2.24%	Trim
7	NVDA	Nvidia CORP	+0.6%	+0.90%	Add
8	V	Visa Inc-class A Shares	+0.5%	+1.48%	Add
9	MCK	Mckesson CORP	+0.4%	—	Unchanged
10	AAPL	Apple INC	+0.3%	-5.93%	Trim
11	SCHR	Schwab Intermediate-term US	+0.3%	-4.97%	Trim
12	IEF	Ishares 7-10 Year Treasury B	+0.2%	-13.30%	Trim
13	JPM	Jpmorgan Chase & Co	+0.1%	-2.81%	Trim
14	CP	Canadian Pacific Kansas City	+0.1%	—	Unchanged
15	VGLT	Vanguard Long-term Treasury	+0.1%	-9.16%	Trim
16	SYK	Stryker CORP	+0.1%	-0.73%	Trim
17	MCD	Mcdonald's CORP	+0.1%	—	Unchanged
18	SCHO	Schwab Short-term US Treas	+0.1%	-15.14%	Trim
19	TSM	Taiwan Semiconductor-sp Adr	+0.1%	—	Unchanged
20	LLY	Eli Lilly & Co	0%	-3.15%	Trim
21	TMO	Thermo Fisher Scientific INC	0%	—	Unchanged
22	META	Meta Platforms Inc-class A	0%	—	Unchanged
23	BRK-B	Berkshire Hathaway Inc-cl B	0%	-9.07%	Trim
24	AON	Aon plc	0%	—	Unchanged
25	EWBC	East West Bancorp INC	0%	—	Unchanged
26	AXP	American Express Co	—	—	Unchanged
27	BKNG	Booking Holdings INC	0%	—	Unchanged
28	GOOGL	Alphabet Inc-cl A	0%	-13.30%	Trim
29	ORCL	Oracle CORP	-0.1%	-53.54%	Trim
30	NXPI	NXP Semiconductors N.V.	-0.1%	-74.72%	Trim
31	IQV	Iqvia Holdings INC	-0.7%	-3.72%	Trim
32	MSFT	Microsoft CORP	-1.1%	-2.27%	Trim
33	NFLX	Netflix INC	-1.1%	-90.81%	Trim
34	CNI	Canadian Natl Railway Co	-1.9%	-77.44%	Trim
35	AZNN	Astrazeneca Plc-spons Adr	—	EXIT	Sold out
36	ADBE	Adobe INC	—	EXIT	Sold out
37	ADP	Automatic Data Processing	—	NEW	New buy
38	INTU	Intuit INC	—	NEW	New buy
39	XLF	Ss Financial Select Sector	—	EXIT	Sold out
40	PRU	Prudential Financial INC	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-08	13F-HR	View on EDGAR
2025-12-31	2026-02-10	13F-HR	View on EDGAR
2025-09-30	2025-11-12	13F-HR	View on EDGAR
2025-06-30	2025-08-12	13F-HR	View on EDGAR
2025-03-31	2025-05-12	13F-HR	View on EDGAR
2024-12-31	2025-02-13	13F-HR	View on EDGAR
2024-09-30	2024-11-12	13F-HR	View on EDGAR
2024-06-30	2024-08-12	13F-HR	View on EDGAR
2024-03-31	2024-05-09	13F-HR	View on EDGAR
2023-12-31	2024-02-12	13F-HR	View on EDGAR
2023-09-30	2023-11-09	13F-HR	View on EDGAR
2023-06-30	2023-08-11	13F-HR	View on EDGAR
2023-03-31	2023-05-15	13F-HR	View on EDGAR
2022-12-31	2023-02-10	13F-HR	View on EDGAR
2022-09-30	2022-11-10	13F-HR	View on EDGAR
2022-06-30	2022-08-12	13F-HR	View on EDGAR
2022-03-31	2022-05-13	13F-HR	View on EDGAR
2021-12-31	2022-02-14	13F-HR	View on EDGAR
2021-09-30	2021-11-12	13F-HR	View on EDGAR
2021-06-30	2021-08-12	13F-HR	View on EDGAR
2021-03-31	2021-05-14	13F-HR	View on EDGAR
2020-12-31	2021-02-12	13F-HR	View on EDGAR
2020-09-30	2020-11-16	13F-HR	View on EDGAR
2020-06-30	2020-08-12	13F-HR	View on EDGAR
2020-03-31	2020-05-14	13F-HR	View on EDGAR
2019-12-31	2020-02-12	13F-HR	View on EDGAR
2019-09-30	2019-11-13	13F-HR	View on EDGAR
2019-06-30	2019-08-14	13F-HR	View on EDGAR
2019-03-31	2019-05-13	13F-HR	View on EDGAR
2018-12-31	2019-02-14	13F-HR	View on EDGAR

FAQ

What is Act Two Investors LLC and what type of investor is it?

Act Two Investors LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $453.2M, spread across 36 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) — $67.9M (15.0%) 2. Microsoft CORP (MSFT) — $52.8M (11.7%) 3. Amazon.com INC (AMZN) — $37.0M (8.2%) 4. T-mobile US INC (TMUS) — $31.9M (7.0%) 5. Visa Inc-class A Shares (V) — $31.5M (7.0%)

What changes did Act Two Investors LLC make in its most recent portfolio filing?

In the latest reported quarter, Act Two Investors LLC made 30 notable position adjustments: 2 new positions were initiated, 4 existing holdings were added to, 20 positions were partially reduced, and 4 were completely exited. The largest of these moves: Sold out: Astrazeneca Plc-spons Adr (AZNN); Sold out: Adobe INC (ADBE); New buy: Automatic Data Processing (ADP); New buy: Intuit INC (INTU); Sold out: Ss Financial Select Sector (XLF)

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: • Communication Services: 30.4% • Information Technology: 25.8% • Financials: 14.0% • Health Care: 12.0% • Consumer Discretionary: 9.6% • Utilities: 6.9%

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Act Two Investors LLC 13F Filing History & Holdings

CIK: 0001766907

Momentum followerQuality / disciplined sizingDiversified strategy

Total reported value

$453.2M

Reporting period: 2026-03-31 · Number of holdings: 36

Act Two Investors LLC disclosed 36 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $453.2M and a quarterly turnover rate of 32.1%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "A"

Personality snowflake

Concentration: 28.3
Portfolio Stability: 32.07
Momentum/Contrarian: 100
Sector conviction: 61.93
Diversification: 72
Sizing Uniformity: 87.38

Position sizes vary widely across the portfolio (a coefficient of variation of 1.26), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Add SLM
+1786.2%　$14.1M
Trim CNI
-77.4%　-$11.1M
Add TMUS
-3.4%　-$27.4K
Add ES
-3.7%　-$264.1K
Trim NFLX
-90.8%　-$6.1M
Trim MSFT
-2.3%　-$17.8M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	GOOG	Alphabet Inc-cl C	Stock-Comm Services	14.98%	+0.63%	-6.92%
2	MSFT	Microsoft CORP	Stock-Tech	11.65%	-1.05%	-2.27%
3	AMZN	Amazon.com INC	Stock-Consumer Disc	8.16%	+0.62%	-2.24%
4	TMUS	T-mobile US INC	Stock-Comm Services	7.03%	+1.29%	-3.41%
5	V	Visa Inc-class A Shares	Stock-Financials	6.95%	+0.47%	+1.48%
6	ES	Eversource Energy	Stock-Utilities	6.26%	+1.11%	-3.71%
7	IQV	Iqvia Holdings INC	Stock-Healthcare	5.97%	-0.71%	-3.72%
8	IEF	Ishares 7-10 Year Treasury B	ETF-Gov Bonds	4.38%	+0.23%	-13.30%
9	AAPL	Apple INC	Stock-Tech	4.32%	+0.31%	-5.93%
10	DIS	Walt Disney Co/the	Stock-Comm Services	4.28%	+0.81%	+18.88%
11	NVDA	Nvidia CORP	Stock-Tech	4.04%	+0.55%	+0.90%
12	SLM	Slm CORP	Stock-Financials	3.34%	+3.16%	+1786.17%
13	ADP	Automatic Data Processing	Stock-Tech	2.10%	+2.10%	NEW
14	SCHR	Schwab Intermediate-term US	ETF-Other	1.92%	+0.26%	-4.97%
15	JPM	Jpmorgan Chase & Co	Stock-Financials	1.78%	+0.14%	-2.81%
16	MCK	Mckesson CORP	Stock-Healthcare	1.70%	+0.38%	—
17	LLY	Eli Lilly & Co	Stock-Healthcare	1.66%	+0.03%	-3.15%
18	SCHO	Schwab Short-term US Treas	ETF-Other	1.30%	+0.05%	-15.14%
19	VGLT	Vanguard Long-term Treasury	ETF-Gov Bonds	1.19%	+0.12%	-9.16%
20	INTU	Intuit INC	Stock-Tech	1.11%	+1.11%	NEW
21	SYK	Stryker CORP	Stock-Healthcare	0.87%	+0.11%	-0.73%
22	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.80%	-0.02%	-13.30%
23	CNI	Canadian Natl Railway Co	Stock-Industrials	0.75%	-1.85%	-77.44%
24	TMO	Thermo Fisher Scientific INC	Stock-Healthcare	0.73%	+0.03%	—
25	CP	Canadian Pacific Kansas City	Stock-Industrials	0.61%	+0.14%	—
26	MCD	Mcdonald's CORP	Stock-Consumer Disc	0.47%	+0.10%	—
27	META	Meta Platforms Inc-class A	Stock-Comm Services	0.45%	+0.03%	—
28	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	0.31%	+0.02%	-9.07%
29	AON	Aon plc	Stock-Financials	0.16%	+0.02%	—
30	TSM	Taiwan Semiconductor-sp Adr	Stock-Tech	0.15%	+0.05%	—
31	NFLX	Netflix INC	Stock-Comm Services	0.14%	-1.06%	-90.81%
32	BKNG	Booking Holdings INC	Stock-Consumer Disc	0.13%	-0.01%	—
33	EWBC	East West Bancorp INC	Stock-Financials	0.12%	+0.01%	—
34	AXP	American Express Co	Stock-Financials	0.07%	—	—
35	ORCL	Oracle CORP	Stock-Tech	0.06%	-0.07%	-53.54%
36	NXPI	NXP Semiconductors N.V.	Stock-Tech	0.05%	-0.13%	-74.72%

Portfolio Performance

Performance for Q3 2026

+0.3%

Performance Last 4 Quarters

+15.1%

Based on 71% of reported portfolio value with available pricing

Stdev: +13.3%
Beta: +0.89
Alpha: -3.3%
Max Drawdown: -10.2%
Annualized Perf: +13%
Batting Avg vs S&P: +38.9%
Sortino: +2.04
Stutzer: +0.3
Treynor: +0.15
Sterling: +0.73
Calmar: +1.28
Information Ratio: -0.79
Tracking Error: +6.7%
Stdev Down: +6.4%
Winning Months %: +63.9%
Losing Months %: +36.1%
Best 12 Months: +29.8%
Worst 12 Months: +2.7%
Efficiency Ratio: +0.41
Sharpe: +0.98
Stdev Sectors: +9.5%
Skewness: +0.8
Kurtosis: +1.34
Upside Potential: +3.84

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	36	$453.2M	32	1GOOG 2MSFT 3AMZN Top holdings2026-03-31 1.GOOG 2.MSFT 3.AMZN 4.TMUS 5.V 6.ES 7.IQV 8.IEF 9.AAPL 10.DIS
2025-12-31	38	$555.9M	24	1GOOG 2MSFT 3AMZN Top holdings2025-12-31 1.GOOG 2.MSFT 3.AMZN 4.IQV 5.V 6.AZNN 7.TMUS 8.ES 9.IEF 10.AAPL
2025-09-30	39	$564.2M	52	1MSFT 2GOOG 3AMZN Top holdings2025-09-30 1.MSFT 2.GOOG 3.AMZN 4.TMUS 5.V 6.IQV 7.ES 8.AZNN 9.IEF 10.ARE
2025-06-30	37	$489.9M	0	1MSFT 2GOOG 3AMZN Top holdings2025-06-30 1.MSFT 2.GOOG 3.AMZN 4.V 5.TMUS 6.ES 7.IQV 8.AZNN 9.FISV 10.IEF
2025-03-31	41	$471.8M	100	1MSFT 2TMUS 3GOOG Top holdings2025-03-31 1.MSFT 2.TMUS 3.GOOG 4.V 5.AMZN 6.SYY 7.PRU 8.NXPI 9.AZNN 10.AAPL
2024-12-31	46	$513.5M	0	1MSFT 2GOOG 3AMZN Top holdings2024-12-31 1.MSFT 2.GOOG 3.AMZN 4.TMUS 5.V 6.NXPI 7.SYY 8.NOC 9.AAPL 10.IEF
2024-09-30	45	$530.1M	0	1MSFT 2GOOG 3TMUS Top holdings2024-09-30 1.MSFT 2.GOOG 3.TMUS 4.UNH 5.AMZN 6.NXPI 7.V 8.NOC 9.AZNN 10.AAPL
2024-06-30	49	$505.2M	0	1MSFT 2GOOG 3AMZN Top holdings2024-06-30 1.MSFT 2.GOOG 3.AMZN 4.NXPI 5.TMUS 6.UNH 7.V 8.AZNN 9.NOC 10.AAPL
2024-03-31	48	$497.9M	0	1MSFT 2GOOG 3NXPI Top holdings2024-03-31 1.MSFT 2.GOOG 3.NXPI 4.AMZN 5.TMUS 6.UNH 7.V 8.NOC 9.VGLT 10.AZNN
2023-12-31	47	$463.0M	0	1MSFT 2GOOG 3NXPI Top holdings2023-12-31 1.MSFT 2.GOOG 3.NXPI 4.TMUS 5.UNH 6.AMZN 7.V 8.NOC 9.VGLT 10.AAPL
2023-09-30	36	$373.8M	0	1MSFT 2GOOG 3NXPI Top holdings2023-09-30 1.MSFT 2.GOOG 3.NXPI 4.UNH 5.TMUS 6.AMZN 7.NOC 8.VGLT 9.V 10.AAPL
2023-06-30	38	$357.5M	0	1MSFT 2GOOG 3NXPI Top holdings2023-06-30 1.MSFT 2.GOOG 3.NXPI 4.AMZN 5.TMUS 6.UNH 7.NOC 8.AAPL 9.V 10.JNJ
2023-03-31	32	$250.9M	0	1MSFT 2GOOG 3NXPI Top holdings2023-03-31 1.MSFT 2.GOOG 3.NXPI 4.TMUS 5.NOC 6.UNH 7.AMZN 8.AAPL 9.V 10.SYY
2022-12-31	24	$96.8M	0	1MSFT 2GOOG 3NXPI Top holdings2022-12-31 1.MSFT 2.GOOG 3.NXPI 4.V 5.AAPL 6.AMZN 7.NOC 8.TMUS 9.TMO 10.CNI
2022-09-30	24	$98.8M	0	1MSFT 2AAPL 3GOOG Top holdings2022-09-30 1.MSFT 2.AAPL 3.GOOG 4.NXPI 5.AMZN 6.V 7.NOC 8.TMUS 9.TMO 10.CNI
2022-06-30	25	$106.0M	0	1MSFT 2GOOG 3AAPL Top holdings2022-06-30 1.MSFT 2.GOOG 3.AAPL 4.NXPI 5.AMZN 6.V 7.TMUS 8.NOC 9.TMO 10.CNI
2022-03-31	25	$126.1M	0	1MSFT 2GOOG 3AAPL Top holdings2022-03-31 1.MSFT 2.GOOG 3.AAPL 4.AMZN 5.NXPI 6.V 7.NOC 8.TMUS 9.TMO 10.CNI
2021-12-31	26	$126.9M	0	1MSFT 2GOOG 3AAPL Top holdings2021-12-31 1.MSFT 2.GOOG 3.AAPL 4.NXPI 5.AMZN 6.V 7.TMO 8.NOC 9.TMUS 10.JPM
2021-09-30	29	$421.4M	0	1MSFT 2GOOG 3NXPI Top holdings2021-09-30 1.MSFT 2.GOOG 3.NXPI 4.PRU 5.AMZN 6.UNH 7.NOC 8.TMUS 9.SCHO 10.AAPL
2021-06-30	34	$511.8M	100	1MSFT 2GOOG 3NXPI Top holdings2021-06-30 1.MSFT 2.GOOG 3.NXPI 4.META 5.PRU 6.KSUEUR 7.TMUS 8.AMZN 9.UNH 10.XLF
2021-03-31	34	$453.9M	22	1MSFT 2NXPI 3GOOG Top holdings2021-03-31 1.MSFT 2.NXPI 3.GOOG 4.KSUEUR 5.PRU 6.META 7.TMUS 8.AMZN 9.XLF 10.MRK
2020-12-31	36	$396.4M	39	1MSFT 2NXPI 3GOOG Top holdings2020-12-31 1.MSFT 2.NXPI 3.GOOG 4.AMZN 5.TMUS 6.PRU 7.META 8.KSUEUR 9.MRK 10.XLF
2020-09-30	31	$309.2M	36	1MSFT 2AMZN 3GOOG Top holdings2020-09-30 1.MSFT 2.AMZN 3.GOOG 4.NXPI 5.TMUS 6.META 7.MRK 8.KSUEUR 9.AAPL 10.SCHO
2020-06-30	30	$267.6M	44	1MSFT 2AMZN 3GOOG Top holdings2020-06-30 1.MSFT 2.AMZN 3.GOOG 4.NXPI 5.TMUS 6.KSUEUR 7.META 8.ENB 9.T 10.SCHO
2020-03-31	28	$216.3M	40	1MSFT 2AMZN 3GOOG Top holdings2020-03-31 1.MSFT 2.AMZN 3.GOOG 4.KSUEUR 5.SCHO 6.T 7.ENB 8.META 9.NXPI 10.BKNG
2019-12-31	39	$263.9M	34	1MSFT 2T 3GOOG Top holdings2019-12-31 1.MSFT 2.T 3.GOOG 4.KSUEUR 5.NXPI 6.ENB 7.BKNG 8.GM 9.AMZN 10.AAPL
2019-09-30	38	$226.6M	32	1MSFT 2T 3GOOG Top holdings2019-09-30 1.MSFT 2.T 3.GOOG 4.KSUEUR 5.BKNG 6.ENB 7.GM 8.124857 9.AAPL 10.SCHO
2019-06-30	37	$192.3M	30	1MSFT 2T 3GOOG Top holdings2019-06-30 1.MSFT 2.T 3.GOOG 4.GM 5.KSUEUR 6.ENB 7.BKNG 8.UPS 9.124857 10.SCHO
2019-03-31	38	$173.9M	30	1MSFT 2GOOG 3T Top holdings2019-03-31 1.MSFT 2.GOOG 3.T 4.ENB 5.GM 6.KSUEUR 7.BKNG 8.G0177J 9.UPS 10.BRK-B
2018-12-31	36	$142.3M	—	1MSFT 2GOOG 3T Top holdings2018-12-31 1.MSFT 2.GOOG 3.T 4.GM 5.ENB 6.BRK-B 7.BKNG 8.KSUEUR 9.AAPL 10.G0177J

Holding changes this quarter

Position changes disclosed by Act Two Investors LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	SLM	Slm CORP	+3.2%	+1786.17%	Add
2	TMUS	T-mobile US INC	+1.3%	-3.41%	Trim
3	ES	Eversource Energy	+1.1%	-3.71%	Trim
4	DIS	Walt Disney Co/the	+0.8%	+18.88%	Add
5	GOOG	Alphabet Inc-cl C	+0.6%	-6.92%	Trim
6	AMZN	Amazon.com INC	+0.6%	-2.24%	Trim
7	NVDA	Nvidia CORP	+0.6%	+0.90%	Add
8	V	Visa Inc-class A Shares	+0.5%	+1.48%	Add
9	MCK	Mckesson CORP	+0.4%	—	Unchanged
10	AAPL	Apple INC	+0.3%	-5.93%	Trim
11	SCHR	Schwab Intermediate-term US	+0.3%	-4.97%	Trim
12	IEF	Ishares 7-10 Year Treasury B	+0.2%	-13.30%	Trim
13	JPM	Jpmorgan Chase & Co	+0.1%	-2.81%	Trim
14	CP	Canadian Pacific Kansas City	+0.1%	—	Unchanged
15	VGLT	Vanguard Long-term Treasury	+0.1%	-9.16%	Trim
16	SYK	Stryker CORP	+0.1%	-0.73%	Trim
17	MCD	Mcdonald's CORP	+0.1%	—	Unchanged
18	SCHO	Schwab Short-term US Treas	+0.1%	-15.14%	Trim
19	TSM	Taiwan Semiconductor-sp Adr	+0.1%	—	Unchanged
20	LLY	Eli Lilly & Co	0%	-3.15%	Trim
21	TMO	Thermo Fisher Scientific INC	0%	—	Unchanged
22	META	Meta Platforms Inc-class A	0%	—	Unchanged
23	BRK-B	Berkshire Hathaway Inc-cl B	0%	-9.07%	Trim
24	AON	Aon plc	0%	—	Unchanged
25	EWBC	East West Bancorp INC	0%	—	Unchanged
26	AXP	American Express Co	—	—	Unchanged
27	BKNG	Booking Holdings INC	0%	—	Unchanged
28	GOOGL	Alphabet Inc-cl A	0%	-13.30%	Trim
29	ORCL	Oracle CORP	-0.1%	-53.54%	Trim
30	NXPI	NXP Semiconductors N.V.	-0.1%	-74.72%	Trim
31	IQV	Iqvia Holdings INC	-0.7%	-3.72%	Trim
32	MSFT	Microsoft CORP	-1.1%	-2.27%	Trim
33	NFLX	Netflix INC	-1.1%	-90.81%	Trim
34	CNI	Canadian Natl Railway Co	-1.9%	-77.44%	Trim
35	AZNN	Astrazeneca Plc-spons Adr	—	EXIT	Sold out
36	ADBE	Adobe INC	—	EXIT	Sold out
37	ADP	Automatic Data Processing	—	NEW	New buy
38	INTU	Intuit INC	—	NEW	New buy
39	XLF	Ss Financial Select Sector	—	EXIT	Sold out
40	PRU	Prudential Financial INC	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-08	13F-HR	View on EDGAR
2025-12-31	2026-02-10	13F-HR	View on EDGAR
2025-09-30	2025-11-12	13F-HR	View on EDGAR
2025-06-30	2025-08-12	13F-HR	View on EDGAR
2025-03-31	2025-05-12	13F-HR	View on EDGAR
2024-12-31	2025-02-13	13F-HR	View on EDGAR
2024-09-30	2024-11-12	13F-HR	View on EDGAR
2024-06-30	2024-08-12	13F-HR	View on EDGAR
2024-03-31	2024-05-09	13F-HR	View on EDGAR
2023-12-31	2024-02-12	13F-HR	View on EDGAR
2023-09-30	2023-11-09	13F-HR	View on EDGAR
2023-06-30	2023-08-11	13F-HR	View on EDGAR
2023-03-31	2023-05-15	13F-HR	View on EDGAR
2022-12-31	2023-02-10	13F-HR	View on EDGAR
2022-09-30	2022-11-10	13F-HR	View on EDGAR
2022-06-30	2022-08-12	13F-HR	View on EDGAR
2022-03-31	2022-05-13	13F-HR	View on EDGAR
2021-12-31	2022-02-14	13F-HR	View on EDGAR
2021-09-30	2021-11-12	13F-HR	View on EDGAR
2021-06-30	2021-08-12	13F-HR	View on EDGAR
2021-03-31	2021-05-14	13F-HR	View on EDGAR
2020-12-31	2021-02-12	13F-HR	View on EDGAR
2020-09-30	2020-11-16	13F-HR	View on EDGAR
2020-06-30	2020-08-12	13F-HR	View on EDGAR
2020-03-31	2020-05-14	13F-HR	View on EDGAR
2019-12-31	2020-02-12	13F-HR	View on EDGAR
2019-09-30	2019-11-13	13F-HR	View on EDGAR
2019-06-30	2019-08-14	13F-HR	View on EDGAR
2019-03-31	2019-05-13	13F-HR	View on EDGAR
2018-12-31	2019-02-14	13F-HR	View on EDGAR