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TSM
Two Star Manager Portfolio holdings
AUM
$247M
Turnover
8.33%
1-Year Est. Return
10.04%
This Fund
S&P 500
This Quarter Est. Return
+2.36%
1 Year Est. Return
-10.04%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$279M
AUM Growth
+$52.1M
(+23%)
Cap. Flow
+$48.2M
Cap. Flow % of AUM
Cap. Flow %
17.32%
Top 10 Holdings %
Top 10 Hldgs %
90.48%
Holding
14
New
–
Increased
11
Reduced
–
Closed
2
Avg Time Held
1.2
years
Top 10 Avg Time Held
0.9
years
Top 20 Avg Time Held
1.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$11.4M |
| 2 |
Amazon
AMZN
|
+$10.6M |
| 3 |
Procore
PCOR
|
+$8.62M |
| 4 |
Meta Platforms (Facebook)
META
|
+$8.01M |
| 5 |
Okta
OKTA
|
+$6.37M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Workday
WDAY
|
+$12M |
| 2 |
ACV Auctions
ACVA
|
+$11.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 41.84% |
| 2 | Consumer Discretionary | 22.28% |
| 3 | Communication Services | 11.13% |
| 4 | Financials | 10.65% |
| 5 | Healthcare | 7.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Amazon
AMZN
$2.88T
| $48.9M | 17.54% |
222,605
+46,847
| +27% | +$10.6M |
2023 Q4
7 quarters
|
|
|
2
Meta Platforms (Facebook)
META
$1.61T
| $31M | 11.13% |
42,217
+10,766
| +34% | +$8.01M |
2023 Q4
7 quarters
|
|
3
Mastercard
MA
$576B
| $29.7M | 10.65% |
52,186
+9,380
| +22% | +$5.39M |
2023 Q4
7 quarters
|
|
4
Microsoft
MSFT
$3.87T
| $23.2M | 8.33% |
44,826
+9,283
| +26% | +$4.74M |
2023 Q4
7 quarters
|
|
|
5
Procore
PCOR
$11.6B
| $23M | 8.27% |
315,907
+123,408
| +64% | +$8.62M |
2024 Q3
4 quarters
|
|
6
Bio-Techne
TECH
$11.4B
| $20.6M | 7.4% |
370,629
+79,673
| +27% | +$4.27M |
2025 Q1
2 quarters
|
|
7
Uber
UBER
$144B
| $19.1M | 6.86% |
195,001
+52,941
| +37% | +$4.95M |
2025 Q1
2 quarters
|
|
8
PTC
PTC
$21.3B
| $19M | 6.82% |
93,572
+23,638
| +34% | +$4.82M |
2024 Q3
4 quarters
|
|
|
9
Okta
OKTA
$31.9B
| $18.9M | 6.77% |
205,804
+68,232
| +50% | +$6.37M |
2024 Q4
3 quarters
|
|
|
10
State Street SPDR S&P 500 ETF Trust
SPY
$806B
| $18.7M | 6.7% |
28,024
+17,750
| +173% | +$11.4M |
2025 Q2
1 quarter
|
|
11
ServiceNow
NOW
$107B
| $13.3M | 4.79% |
72,480
+14,570
| +25% | +$2.72M |
2023 Q4
7 quarters
|
|
12
Chewy
CHWY
$9.3B
| $13.2M | 4.73% |
325,987
| – | – |
2023 Q4
7 quarters
|
|
|
13
DELISTED
ACV Auctions
ACVA
| – | – |
-716,972
| Closed | -$11.6M | – |
|
|
14
Workday
WDAY
$46.1B
| – | – |
-49,974
| Closed | -$12M | – |
|
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Two Star Manager's Q3 2025 Portfolio in Review
As of Q3 2025, Two Star Manager held 14 positions worth $279M, up 23% from $226M the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Two Star Manager deployed $48.2M of net new capital in Q3 2025, adding to 11 existing holdings.
By sector, the portfolio is most concentrated in Technology at 42% of assets, up from 41% a quarter earlier, followed by Consumer Discretionary and Communication Services.
On the sell side, the most notable exit was Workday, an estimated $12M sold.
- Two Star Manager added most to State Street SPDR S&P 500 ETF Trust in Q3 2025, an estimated $11.4M increase.
- Two Star Manager fully exited Workday in Q3 2025, selling an estimated $12M.
- Two Star Manager's ten largest holdings make up 90% of its $279M portfolio in Q3 2025.
- Two Star Manager opened 0 new positions and closed 2 in Q3 2025.
- Two Star Manager's portfolio value rose 23% quarter-over-quarter to $279M.
Based on Two Star Manager's 13F filing for Q3 2025, filed 14 Nov 2025.