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Act Two Investors LLC

641 ESCALONA DRIVE, SANTA CRUZ, CA 95060 • 831-246-0035

Q3 2025 · Filed 2025-11-12
Market Value
$534M
+15.6%
Holdings
39
-2
New Purchases
4
Added To
10
Closed
2
Reduced
14
Top 10 Concentration
72.3%
Turnover
15.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ARE 4.30% 0.00% +4.30% $23M
ADBE 2.86% 0.00% +2.86% $15M
GOOG 11.78% 10.18% +1.60% $63M
LLY 1.21% 0.00% +1.21% $6M
CNI 1.90% 0.74% +1.16% $10M
VGLT 1.09% 0.00% +1.09% $6M
SLM 1.10% 0.56% +0.54% $6M
IQV 6.06% 5.75% +0.32% $32M
AAPL 4.19% 3.89% +0.31% $22M
GOOGL 0.88% 0.74% +0.14% $5M
NVDA 3.73% 3.67% +0.06% $20M
ORCL 0.25% 0.20% +0.05% $1M
TMO 0.61% 0.59% +0.02% $3M
TSM 0.11% 0.10% +0.01% $580K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AMGN 0.00% 2.80% -2.80% $0
MSFT 14.55% 16.21% -1.67% $78M
FI 3.77% 5.31% -1.54% $20M
V 6.75% 8.16% -1.41% $36M
NXPI 0.75% 2.13% -1.38% $4M
AMZN 7.72% 8.97% -1.25% $41M
TMUS 6.96% 8.06% -1.09% $37M
IEF 4.34% 5.04% -0.70% $23M
ES 5.60% 6.02% -0.42% $30M
SCHO 1.79% 2.09% -0.29% $10M
SCHR 1.74% 2.01% -0.28% $9M
SYK 0.98% 1.25% -0.27% $5M
MCK 1.31% 1.43% -0.13% $7M
JPM 1.67% 1.78% -0.10% $9M
META 0.49% 0.57% -0.08% $3M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Communication Services 27.8%
Financial Services 21.7%
Technology 21.5%
Healthcare 11.0%
Consumer Cyclical 8.8%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 17 $327M 61.3%
Large Cap 20 $178M 33.3%
Mid Cap 2 $29M 5.4%

Portfolio Analytics

Avg Market Cap
$896.5B
Median Market Cap
$124.8B
Avg P/E
22.7
Median P/E
21.9
Avg Dividend Yield
0.01%
Avg Beta
1.02
# Stocks
34
# ETFs / Funds
5

Top Holdings (39 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 14.55% 149,873 $78M $517.95 $3M -611 -0.4%
2 GOOG 11.78% 258,056 $63M $243.55 $16M -6,828 -2.6%
3 AMZN 7.72% 187,667 $41M $219.57 -$198K -1,056 -0.6%
4 TMUS 6.96% 155,259 $37M $239.38 -$40K -897 -0.6%
5 V 6.75% 105,590 $36M $341.38 -$2M -576 -0.5%
6 IQV 6.06% 170,320 $32M $189.94 $6M +1,984 +1.2%
7 ES 5.60% 420,052 $30M $71.14 $2M -16,960 -3.9%
8 IEF 4.34% 239,935 $23M $96.46 -$105K -2,824 -1.2%
9 ARE 4.30% 275,290 $23M $83.34 +275,290 NEW
10 AAPL 4.19% 87,901 $22M $254.63 $4M +437 +0.5%
11 FI 3.77% 156,060 $20M $128.93 -$4M +13,883 +9.8%
12 NVDA 3.73% 106,700 $20M $186.58 $3M -428 -0.4%
13 ADBE 2.86% 43,193 $15M $352.75 +43,193 NEW
14 CNI 1.90% 107,697 $10M $94.30 $7M +74,677 +226.2%
15 SCHO 1.79% 391,611 $10M $24.40 -$73K -3,298 -0.8%
16 SCHR 1.74% 368,764 $9M $25.13 -$22K -2,354 -0.6%
17 JPM 1.67% 28,287 $9M $315.43 $722K
18 MCK 1.31% 9,017 $7M $772.54 $359K
19 LLY 1.21% 8,449 $6M $763.00 +8,449 NEW
20 SLM 1.10% 211,582 $6M $27.68 $3M +132,422 +167.3%
21 VGLT 1.09% 102,573 $6M $56.86 +102,573 NEW
22 SYK 0.98% 14,181 $5M $369.68 -$536K -424 -2.9%
23 GOOGL 0.88% 19,361 $5M $243.10 $1M -136 -0.7%
24 NXPI 0.75% 17,565 $4M $227.73 -$6M -27,455 -61.0%
25 TMO 0.61% 6,710 $3M $485.02 $534K
26 META 0.49% 3,594 $3M $734.38 -$13K
27 BRK-B 0.45% 4,798 $2M $502.74 $91K +20 +0.4%
28 MCD 0.39% 6,820 $2M $303.89 $109K +100 +1.5%
29 ORCL 0.25% 4,702 $1M $281.24 $409K +525 +12.6%
30 AON 0.15% 2,275 $811K $356.58 $55K +154 +7.3%
31 BKNG 0.14% 141 $761K $5,399.27 $20K +13 +10.2%
32 TSM 0.11% 2,078 $580K $279.29 $110K
33 EWBC 0.11% 5,270 $561K $106.45 $29K
34 XLF 0.10% 10,168 $548K $53.87 $15K
35 NFLX 0.06% 280 $336K $1,198.92 -$39K
36 AXP 0.06% 979 $325K $332.16 -$13K -81 -7.6%
37 PRU 0.04% 1,990 $206K $103.74 -$7K
38 WTW —% -$315K -1,029 -100.0% SOLD
39 AMGN —% -$13M -46,220 -100.0% SOLD

New Positions

SymbolValue% Port
ARE $23M 4.30%
ADBE $15M 2.86%
LLY $6M 1.21%
VGLT $6M 1.09%

Sold Out Positions

SymbolValue% Port
AMGN —%
WTW —%
View SEC EDGAR Filings for Act Two Investors LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms