Act Two Investors
SANTA CRUZ, CAfiles as Act Two Investors LLC
$495m in 37 US stocks at the end of 30 June 2026. The top 10 are 70.2% of the money. It changed about 11.6% of the portfolio this quarter.
Value
$495m
Stocks
37
Top 10 share
70.2%
Turnover
11.6%
What changed this quarter
New
Bought for the first time this quarter.
- AccentureACN1.7% of the fund
- MastercardMA0.2% of the fund
Added
Bought more of a stock they already held.
- Eli LillyLLY4.7% of the fund+136%
- Automatic Data ProcessingADP3.6% of the fund+70%
- StrykerSYK3.2% of the fund+320%
- Schwab Strategic TRSCHO1.3% of the fund+6%
- NetflixNFLX1.1% of the fund+1088%
- IntuitINTU0.9% of the fund+51%
Cut
Sold some of their stake.
- AlphabetGOOG14.9% of the fund-12%
- Eversource EnergyES3.5% of the fund-42%
- Vanguard Scottsdale FDSVGLT0.8% of the fund-24%
- AlphabetGOOGL0.8% of the fund-14%
- Berkshire HathawayBRK-B0.3% of the fund-4%
Sold out
Sold their entire stake.
- Walt DisneyDIS-100%
Holdings
- Ishares TRIEF
- Share
- 4.0%
- Value
- $20m
- Shares
- 206,772
Held
- Schwab Strategic TRSCHR
- Share
- 1.8%
- Value
- $9m
- Shares
- 354,554
Held
- Schwab Strategic TRSCHO
- Share
- 1.3%
- Value
- $6m
- Shares
- 256,210
+6%
- Vanguard Scottsdale FDSVGLT
- Share
- 0.8%
- Value
- $4m
- Shares
- 74,530
-24%
- Canadian National RailwayCNI
- Share
- 0.8%
- Value
- $4m
- Shares
- 33,020
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| AlphabetGOOG | 14.9% | $74m | 209,221 | -12% |
| MicrosoftMSFT | 10.8% | $53m | 143,167 | Held |
| Amazon.comAMZN | 8.5% | $42m | 175,801 | Held |
| VisaV | 7.2% | $36m | 104,310 | Held |
| Iqvia HoldingsIQV | 6.2% | $31m | 158,746 | Held |
| T-Mobile USTMUS | 5.1% | $25m | 151,082 | Held |
| Eli LillyLLY | 4.7% | $23m | 19,302 | +136% |
| AppleAAPL | 4.5% | $22m | 77,201 | Held |
| NvidiaNVDA | 4.3% | $21m | 105,122 | Held |
| Ishares TRIEF | 4.0% | $20m | 206,772 | Held |
| SLMSLM | 3.8% | $19m | 716,772 | Held |
| Automatic Data ProcessingADP | 3.6% | $18m | 79,607 | +70% |
| Eversource EnergyES | 3.5% | $17m | 238,057 | -42% |
| StrykerSYK | 3.2% | $16m | 50,217 | +320% |
| JPMorgan ChaseJPM | 1.8% | $9m | 27,491 | Held |
| Schwab Strategic TRSCHR | 1.8% | $9m | 354,554 | Held |
| AccentureACN | 1.7% | $9m | 69,325 | New |
| MckessonMCK | 1.4% | $7m | 8,920 | Held |
| Schwab Strategic TRSCHO | 1.3% | $6m | 256,210 | +6% |
| NetflixNFLX | 1.1% | $6m | 77,907 | +1088% |
| IntuitINTU | 0.9% | $5m | 17,595 | +51% |
| Vanguard Scottsdale FDSVGLT | 0.8% | $4m | 74,530 | -24% |
| Canadian National RailwayCNI | 0.8% | $4m | 33,020 | Held |
| AlphabetGOOGL | 0.8% | $4m | 10,804 | -14% |
| Thermo Fisher ScientificTMO | 0.7% | $3m | 6,710 | Held |
| Canadian Pacific Kansas CityCP | 0.6% | $3m | 35,181 | Held |
| Meta PlatformsMETA | 0.4% | $2m | 3,550 | Held |
| McDonald'sMCD | 0.4% | $2m | 6,820 | Held |
| Berkshire HathawayBRK-B | 0.3% | $1m | 2,821 | -4% |
| MastercardMA | 0.2% | $1m | 2,344 | New |
| Taiwan Semiconductor ManufacturingTSM | 0.2% | $984,749 | 2,062 | Held |
| AonAON | 0.2% | $754,595 | 2,275 | Held |
| East West BancorpEWBC | 0.1% | $680,304 | 5,270 | Held |
| Booking HoldingsBKNG | 0.1% | $628,296 | 3,525 | Held |
| NXP SemiconductorsNXPI | <0.1% | $334,145 | 1,189 | Held |
| American ExpressAXP | <0.1% | $331,147 | 979 | Held |
| OracleORCL | <0.1% | $254,997 | 1,740 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 1.0% since 30 June 2025.
Where the money is
Technology22.6%
Media & telecom22.4%
Health care16.1%
Financial services13.7%
Retail & consumer9.0%
Industrials5.0%
Utilities3.5%
Other7.8%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.