Act Two Investors LLC

CIK

1766907

Location

SANTA CRUZ, CA

Portfolio Value

Small $345,441,274

Diversification

Diversified

Filing Date

Global Rank

#2,878 / 8,232 ▼ 71

Top Industry

Software - Infrastructure 15.4%

3Y Alpha vs SPY

-11.8%

Period ended 2 months ago

Filed May 8, 2026 · 37d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+30.3%

SPY

+76.3%

Annualised alpha

-11.6%

Max drawdown

−17.6%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

31 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

15.3%

−2.4 pts

Top 5

52.5%

−2.1 pts

Top 10

81.3%

−0.1 pts

HHI

787

Diversified−54

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	30.8%	$106,444,025	8
Financial Services	16.7%	$57,725,417	7
Communication Services	16.7%	$57,558,615	5
Healthcare	14.3%	$49,518,350	5
Consumer Cyclical	11.5%	$39,675,960	3
Utilities	8.2%	$28,358,105	1
Industrials	1.8%	$6,160,802	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

4 positions

Ticker	Company	Δ Shares	Shares	Value
SLM	SLM Corp	+670,063	707,577	$15,149,223
DIS	Walt Disney Co	+31,977	201,332	$19,404,378
V	Visa Inc.	+1,524	104,171	$31,484,643
NVDA	Nvidia Corp	+937	104,852	$18,286,188
No positions match the current search.

Trimmed

Positions the filer reduced

15 positions

Ticker	Company	Δ Shares	Shares	Value
CNI	Canadian National Railway Co	−113,365	33,020	$3,393,465
NFLX	Netflix Inc	−64,794	6,560	$630,744
ES	Eversource Energy	−15,778	409,326	$28,358,105
IQV	Iqvia Holdings Inc.	−6,132	158,622	$27,051,395
TMUS	T-Mobile US, Inc.	−5,359	151,750	$31,872,052
AAPL	Apple Inc.	−4,867	77,212	$19,595,633
AMZN	Amazon Com Inc	−4,070	177,475	$36,962,718
NXPI	NXP Semiconductors N.V.	−3,515	1,189	$234,066
MSFT	Microsoft Corp	−3,310	142,660	$52,808,452
ORCL	Oracle Corp	−2,005	1,740	$255,971
GOOGL	Alphabet Inc.	−1,932	12,590	$3,620,380
JPM	Jpmorgan Chase & Co	−796	27,491	$8,086,752
BRK-B	Berkshire Hathaway Inc	−294	2,946	$1,411,723
LLY	ELI LILLY & Co	−266	8,174	$7,518,199
SYK	Stryker Corp	−88	11,965	$3,931,579
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
ADP	Automatic Data Processing Inc	46,829	$9,514,716
INTU	Intuit Inc.	11,672	$5,046,739
No positions match the current search.

Sold Out

Positions the filer fully exited

2 positions

Ticker	Company	Shares	Value
ADBE	Adobe Inc.	48,599	$17,009,164
PRU	Prudential Financial Inc	1,990	$224,631
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

31 positions · $345,441,274 total · as of Mar 31, 2026

All sectors Communication Services Consumer Cyclical Financial Services Healthcare Industrials Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MSFT	Microsoft Corp Technology	Reduced	142,660	-3,310	$52,808,452	−25.2%	15.29%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	177,475	-4,070	$36,962,718	−11.8%	10.70%
TMUS	T-Mobile US, Inc. Communication Services	Reduced	151,750	-5,359	$31,872,052	−0.1%	9.23%
V	Visa Inc. Financial Services	Added	104,171	+1,524	$31,484,643	−12.5%	9.11%
ES	Eversource Energy Utilities	Reduced	409,326	-15,778	$28,358,105	−0.9%	8.21%
IQV	Iqvia Holdings Inc. Healthcare	Reduced	158,622	-6,132	$27,051,395	−27.2%	7.83%
AAPL	Apple Inc. Technology	Reduced	77,212	-4,867	$19,595,633	−12.2%	5.67%
DIS	Walt Disney Co Communication Services	Added	201,332	+31,977	$19,404,378	+0.7%	5.62%
NVDA	Nvidia Corp Technology	Added	104,852	+937	$18,286,188	−5.6%	5.29%
SLM	SLM Corp Financial Services	Added	707,577	+670,063	$15,149,223	+1392.3%	4.39%
ADP	Automatic Data Processing Inc Technology	NEW	46,829	NEW	$9,514,716	NEW	2.75%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	27,491	-796	$8,086,752	−11.3%	2.34%
MCK	Mckesson Corp Healthcare	Held	8,920	0	$7,719,011	+5.5%	2.23%
LLY	ELI LILLY & Co Healthcare	Reduced	8,174	-266	$7,518,199	−17.1%	2.18%
INTU	Intuit Inc. Technology	NEW	11,672	NEW	$5,046,739	NEW	1.46%
SYK	Stryker Corp Healthcare	Reduced	11,965	-88	$3,931,579	−7.2%	1.14%
GOOGL	Alphabet Inc. Communication Services	Reduced	12,590	-1,932	$3,620,380	−20.4%	1.05%
CNI	Canadian National Railway Co Industrials	Reduced	33,020	-113,365	$3,393,465	−76.5%	0.98%
TMO	Thermo Fisher Scientific Inc. Healthcare	Held	6,710	0	$3,298,166	−15.2%	0.95%
CP	Canadian Pacific Kansas City Ltd/Cn Industrials	Held	35,181	0	$2,767,337	+6.8%	0.80%
MCD	Mcdonalds Corp Consumer Cyclical	Held	6,820	0	$2,119,587	+1.7%	0.61%
META	Meta Platforms, Inc. Communication Services	Held	3,550	0	$2,031,061	−13.3%	0.59%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	2,946	-294	$1,411,723	−13.3%	0.41%
AON	Aon plc Financial Services	Held	2,275	0	$734,324	−8.5%	0.21%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Held	2,078	0	$702,260	+11.2%	0.20%
NFLX	Netflix Inc Communication Services	Reduced	6,560	-64,794	$630,744	−90.6%	0.18%
BKNG	Booking Holdings Inc. Consumer Cyclical	Held	141	0	$593,655	−21.4%	0.17%
EWBC	East West Bancorp Inc Financial Services	Held	5,270	0	$562,625	−5.0%	0.16%
AXP	American Express Co Financial Services	Held	979	0	$296,127	−18.2%	0.09%
ORCL	Oracle Corp Technology	Reduced	1,740	-2,005	$255,971	−64.9%	0.07%
NXPI	NXP Semiconductors N.V. Technology	Reduced	1,189	-3,515	$234,066	−77.1%	0.07%