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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
-4.44%
1 Year Est. Return
-10.04%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$289M
AUM Growth
+$10M
(+3.6%)
Cap. Flow
+$21.7M
Cap. Flow % of AUM
Cap. Flow %
7.53%
Top 10 Holdings %
Top 10 Hldgs %
96.07%
Holding
13
New
1
Increased
8
Reduced
2
Closed
1
Avg Time Held
1.3
years
Top 10 Avg Time Held
1.1
years
Top 20 Avg Time Held
1.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$20M |
| 2 |
Dynatrace
DT
|
+$11.8M |
| 3 |
Okta
OKTA
|
+$7.27M |
| 4 |
Uber
UBER
|
+$4.85M |
| 5 |
Amazon
AMZN
|
+$2.53M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$18.4M |
| 2 |
ServiceNow
NOW
|
+$13.3M |
| 3 |
Bio-Techne
TECH
|
+$917K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 42.56% |
| 2 | Consumer Discretionary | 22.42% |
| 3 | Communication Services | 16.5% |
| 4 | Financials | 11.08% |
| 5 | Healthcare | 7.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Amazon
AMZN
$2.88T
| $53.9M | 18.69% |
233,657
+11,052
| +5% | +$2.53M |
2023 Q4
8 quarters
|
|
|
2
Meta Platforms (Facebook)
META
$1.64T
| $47.6M | 16.5% |
72,144
+29,927
| +71% | +$20M |
2023 Q4
8 quarters
|
|
3
Mastercard
MA
$576B
| $32M | 11.08% |
56,038
+3,852
| +7% | +$2.15M |
2023 Q4
8 quarters
|
|
4
Procore
PCOR
$11.6B
| $25.1M | 8.69% |
344,897
+28,990
| +9% | +$2.14M |
2024 Q3
5 quarters
|
|
|
5
Okta
OKTA
$32B
| $25M | 8.66% |
289,141
+83,337
| +40% | +$7.27M |
2024 Q4
4 quarters
|
|
6
Microsoft
MSFT
$3.89T
| $23.5M | 8.13% |
48,527
+3,701
| +8% | +$1.85M |
2023 Q4
8 quarters
|
|
|
7
Bio-Techne
TECH
$11.4B
| $20.9M | 7.24% |
355,535
-15,094
| -4% | -$917K |
2025 Q1
3 quarters
|
|
|
8
Uber
UBER
$142B
| $20.3M | 7.05% |
248,865
+53,864
| +28% | +$4.85M |
2025 Q1
3 quarters
|
|
9
PTC
PTC
$21.3B
| $18M | 6.23% |
103,256
+9,684
| +10% | +$1.8M |
2024 Q3
5 quarters
|
|
|
10
Dynatrace
DT
$12.9B
| $11M | 3.8% |
+252,904
| New | +$11.8M |
2025 Q4
0 quarters
|
|
11
Chewy
CHWY
$9.05B
| $10.8M | 3.73% |
325,987
| – | – |
2023 Q4
8 quarters
|
|
|
12
State Street SPDR S&P 500 ETF Trust
SPY
$800B
| $562K | 0.19% |
824
-27,200
| -97% | -$18.4M |
2025 Q2
2 quarters
|
|
|
13
ServiceNow
NOW
$106B
| – | – |
-72,480
| Closed | -$13.3M | – |
|
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Two Star Manager's Q4 2025 Portfolio in Review
As of Q4 2025, Two Star Manager held 13 positions worth $289M, up 3.6% from $279M the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Two Star Manager deployed $21.7M of net new capital in Q4 2025, opening 1 new position and adding to 8 existing holdings. Its largest new stake was Dynatrace: 252,904 shares worth $11M.
By sector, the portfolio is most concentrated in Technology at 43% of assets, up from 42% a quarter earlier, followed by Consumer Discretionary and Communication Services.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $18.4M trimmed.
- Two Star Manager's largest Q4 2025 buy was Dynatrace: 252,904 shares worth $11M.
- Two Star Manager added most to Meta Platforms (Facebook) in Q4 2025, an estimated $20M increase.
- Two Star Manager's biggest Q4 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $18.4M.
- Two Star Manager fully exited ServiceNow in Q4 2025, selling an estimated $13.3M.
- Two Star Manager's ten largest holdings make up 96% of its $289M portfolio in Q4 2025.
- Two Star Manager opened 1 new position and closed 1 in Q4 2025.
- Two Star Manager's portfolio value rose 3.6% quarter-over-quarter to $289M.
Based on Two Star Manager's 13F filing for Q4 2025, filed 17 Feb 2026.