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Asset Manager ← All Institutions

Act Two Investors LLC

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

Q4 2025 · Filed 2026-02-10
Market Value
$521M
-2.4%
Holdings
38
-1
New Purchases
1
Added To
6
Closed
2
Reduced
20
Top 10 Concentration
75.0%
Turnover
7.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
DIS 3.70% 0.00% +3.70% $19M
GOOG 15.31% 11.78% +3.53% $80M
NFLX 1.28% 0.06% +1.22% $7M
IQV 7.13% 6.06% +1.07% $37M
CNI 2.78% 1.90% +0.87% $14M
LLY 1.74% 1.21% +0.53% $9M
ADBE 3.26% 2.86% +0.41% $17M
AMZN 8.04% 7.72% +0.32% $42M
V 6.91% 6.75% +0.15% $36M
TMO 0.75% 0.61% +0.14% $4M
MCK 1.40% 1.31% +0.10% $7M
AAPL 4.28% 4.19% +0.09% $22M
IEF 4.42% 4.34% +0.09% $23M
JPM 1.75% 1.67% +0.08% $9M
VGLT 1.15% 1.09% +0.06% $6M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ARE 0.00% 4.30% -4.30% $0
FI 0.00% 3.77% -3.77% $0
MSFT 13.55% 14.55% -1.00% $71M
SLM 0.19% 1.10% -0.90% $1M
TMUS 6.12% 6.96% -0.84% $32M
NXPI 0.20% 0.75% -0.55% $1M
SCHO 1.34% 1.79% -0.45% $7M
SYK 0.81% 0.98% -0.17% $4M
BRK-B 0.31% 0.45% -0.14% $2M
ORCL 0.14% 0.25% -0.11% $730K
ES 5.49% 5.60% -0.11% $29M
META 0.45% 0.49% -0.04% $2M
XLF 0.06% 0.10% -0.04% $321K
NVDA 3.72% 3.73% -0.01% $19M
GOOGL 0.87% 0.88% -0.01% $5M

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 $339M 65.1%
Large Cap 19 $181M 34.7%
Mid Cap 2 $1M 0.2%

Portfolio Analytics

Avg Market Cap
$919.4B
Median Market Cap
$145.7B
Avg P/E
22.8
Median P/E
21.3
Avg Dividend Yield
0.01%
Avg Beta
1.06
# Stocks
33
# ETFs / Funds
5

Top Holdings (38 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 GOOG 15.31% 254,199 $80M $313.80 $17M -3,857 -1.5%
2 MSFT 13.55% 145,970 $71M $483.62 -$7M -3,903 -2.6%
3 AMZN 8.04% 181,545 $42M $230.82 $698K -6,122 -3.3%
4 IQV 7.13% 164,754 $37M $225.41 $5M -5,566 -3.3%
5 V 6.91% 102,647 $36M $350.71 -$47K -2,943 -2.8%
6 TMUS 6.12% 157,109 $32M $203.04 -$5M +1,850 +1.2%
7 ES 5.49% 425,104 $29M $67.33 -$1M +5,052 +1.2%
8 IEF 4.42% 239,751 $23M $96.16 -$90K -184 -0.1%
9 AAPL 4.28% 82,079 $22M $271.86 -$68K -5,822 -6.6%
10 NVDA 3.72% 103,915 $19M $186.50 -$528K -2,785 -2.6%
11 DIS 3.70% 169,355 $19M $113.77 +169,355 NEW
12 ADBE 3.26% 48,599 $17M $349.99 $2M +5,406 +12.5%
13 CNI 2.78% 146,385 $14M $98.85 $4M +38,688 +35.9%
14 SCHR 1.77% 368,270 $9M $25.08 -$31K -494 -0.1%
15 JPM 1.75% 28,287 $9M $322.22 $192K
16 LLY 1.74% 8,440 $9M $1,074.68 $3M -9 -0.1%
17 MCK 1.40% 8,920 $7M $820.29 $351K -97 -1.1%
18 SCHO 1.34% 286,062 $7M $24.37 -$3M -105,549 -26.9%
19 NFLX 1.28% 71,354 $7M $93.76 $6M +71,074 +25383.6%
20 VGLT 1.15% 107,689 $6M $55.80 $177K +5,116 +5.0%
21 GOOGL 0.87% 14,522 $5M $313.00 -$161K -4,839 -25.0%
22 SYK 0.81% 12,053 $4M $351.48 -$1M -2,128 -15.0%
23 TMO 0.75% 6,710 $4M $579.45 $634K
24 META 0.45% 3,550 $2M $660.09 -$296K -44 -1.2%
25 MCD 0.40% 6,820 $2M $305.63 $12K
26 BRK-B 0.31% 3,240 $2M $502.62 -$784K -1,558 -32.5%
27 NXPI 0.20% 4,704 $1M $217.06 -$3M -12,861 -73.2%
28 SLM 0.19% 37,514 $1M $27.06 -$5M -174,068 -82.3%
29 AON 0.15% 2,275 $803K $352.88 -$8K
30 BKNG 0.14% 141 $755K $5,355.33 -$6K
31 ORCL 0.14% 3,745 $730K $194.91 -$592K -957 -20.4%
32 TSM 0.12% 2,078 $631K $303.89 $51K
33 EWBC 0.11% 5,270 $592K $112.39 $31K
34 AXP 0.07% 979 $362K $369.95 $37K
35 XLF 0.06% 5,868 $321K $54.77 -$226K -4,300 -42.3%
36 PRU 0.04% 1,990 $225K $112.88 $18K
37 ARE —% -$23M -275,290 -100.0% SOLD
38 FI —% -$20M -156,060 -100.0% SOLD

New Positions

SymbolValue% Port
DIS $19M 3.70%

Sold Out Positions

SymbolValue% Port
ARE —%
FI —%
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