Act Two Investors LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 10, 2026), Act Two Investors LLC reported 37 stock positions worth $494.7 million. Its top holding was Alphabet Class C (GOOG) at 14.9% of the portfolio, followed by Microsoft (MSFT, 10.8%) and Amazon.com (AMZN, 8.5%). Compared with Q1 2026, it opened 2 new positions, sold out of 1, added to 12 and reduced 10. The biggest buy was Eli Lilly (LLY, shares +136%) and the biggest sale an exit from Walt Disney (DIS).
- Most Recent 13F
- Q2 2026
- Location
- SANTA CRUZ, CA
- CIK
- 0001766907
- Portfolio Value
- $494.7M (Q2 2026)
- SEC Filing
- 0001214659-26-009810 ↗ filed Aug 10, 2026
Holdings Value
Holdings 37 stocks · $494.7M
| GOOG Alphabet Inc. Class C | 14.94% | 209,221 | $73.9M | Reduce -11.6% |
| MSFT Microsoft Corp. | 10.79% | 143,167 | $53.4M | Add +0.4% |
| AMZN Amazon.com Inc. | 8.47% | 175,801 | $41.9M | Reduce -0.9% |
| V Visa Inc. Class A | 7.23% | 104,310 | $35.8M | Add +0.1% |
| IQV Iqvia Holdings Inc. | 6.20% | 158,746 | $30.7M | Add +0.1% |
| TMUS T-Mobile US Inc. | 5.12% | 151,082 | $25.3M | Reduce -0.4% |
| LLY Eli Lilly & Co. | 4.68% | 19,302 | $23.2M | Add +136.1% |
| AAPL Apple Inc. | 4.52% | 77,201 | $22.3M | Reduce -0.0% |
| NVDA Nvidia Corp. | 4.25% | 105,122 | $21.0M | Add +0.3% |
| IEF iShares 7-10 Year Treasury B | 3.95% | 206,772 | $19.6M | Reduce -0.5% |
| SLM SLM Corp. | 3.76% | 716,772 | $18.6M | Add +1.3% |
| ADP Automatic Data Processing | 3.60% | 79,607 | $17.8M | Add +70.0% |
| ES Eversource Energy | 3.48% | 238,057 | $17.2M | Reduce -41.8% |
| SYK Stryker Corp. | 3.20% | 50,217 | $15.8M | Add +319.7% |
| JPM JPMorgan Chase & Co. | 1.82% | 27,491 | $9.0M | No change |
| SCHR Schwab Intermediate-Term US | 1.77% | 354,554 | $8.7M | Add +1.3% |
| ACN Accenture PLC Class A | 1.74% | 69,325 | $8.6M | New |
| MCK McKesson Corp. | 1.36% | 8,920 | $6.7M | No change |
| SCHO Schwab Short-Term US Treas | 1.25% | 256,210 | $6.2M | Add +5.5% |
| NFLX Netflix Inc. | 1.12% | 77,907 | $5.6M | Add +1087.6% |
| INTU Intuit Inc. | 0.93% | 17,595 | $4.6M | Add +50.8% |
| VGLT Vanguard Long-Term Treasury | 0.83% | 74,530 | $4.1M | Reduce -23.8% |
| CNI Canadian Natl Railway Co. | 0.80% | 33,020 | $3.9M | No change |
| GOOGL Alphabet Inc. Class A | 0.78% | 10,804 | $3.9M | Reduce -14.2% |
| TMO Thermo Fisher Scientific Inc. | 0.68% | 6,710 | $3.4M | No change |
| CP Canadian Pacific Kansas City | 0.62% | 35,181 | $3.0M | No change |
| META Meta Platforms Inc. Class A | 0.40% | 3,550 | $2.0M | No change |
| MCD McDonald's Corp. | 0.37% | 6,820 | $1.8M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.29% | 2,821 | $1.4M | Reduce -4.2% |
| MA Mastercard Inc. Class A | 0.24% | 2,344 | $1.2M | New |
| TSM Taiwan Semiconductor-SP ADR | 0.20% | 2,062 | $985K | Reduce -0.8% |
| AON Aon PLC Class A | 0.15% | 2,275 | $755K | No change |
| EWBC East West Bancorp Inc. | 0.14% | 5,270 | $680K | No change |
| BKNG Booking Holdings Inc. | 0.13% | 3,525 | $628K | No change |
| NXPI NXP Semiconductors NV | 0.07% | 1,189 | $334K | No change |
| AXP American Express Co. | 0.07% | 979 | $331K | No change |
| ORCL Oracle Corp. | 0.05% | 1,740 | $255K | No change |
Portfolio Sells Q1 2026 → Q2 2026
| DIS The Walt Disney Co. | Sold out | 0.00% | −4.28 |
| ES Eversource Energy | Reduce -41.8% | 3.48% | −2.78 |
| TMUS T-Mobile US Inc. | Reduce -0.4% | 5.12% | −1.91 |
| IEF iShares 7-10 Year Treasury B | Reduce -0.5% | 3.95% | −0.43 |
| VGLT Vanguard Long-Term Treasury | Reduce -23.8% | 0.83% | −0.36 |
| GOOG Alphabet Inc. Class C | Reduce -11.6% | 14.94% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -4.2% | 0.29% | −0.03 |
| GOOGL Alphabet Inc. Class A | Reduce -14.2% | 0.78% | −0.02 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -0.8% | 0.20% | +0.04 |
| AAPL Apple Inc. | Reduce -0.0% | 4.52% | +0.19 |
| AMZN Amazon.com Inc. | Reduce -0.9% | 8.47% | +0.31 |
Portfolio Buys Q1 2026 → Q2 2026
| LLY Eli Lilly & Co. | Add +136.1% | 4.68% | +3.02 |
| SYK Stryker Corp. | Add +319.7% | 3.20% | +2.33 |
| ACN Accenture PLC Class A | New | 1.74% | +1.74 |
| ADP Automatic Data Processing | Add +70.0% | 3.60% | +1.50 |
| NFLX Netflix Inc. | Add +1087.6% | 1.12% | +0.99 |
| SLM SLM Corp. | Add +1.3% | 3.76% | +0.42 |
| V Visa Inc. Class A | Add +0.1% | 7.23% | +0.29 |
| MA Mastercard Inc. Class A | New | 0.24% | +0.24 |
| IQV Iqvia Holdings Inc. | Add +0.1% | 6.20% | +0.23 |
| NVDA Nvidia Corp. | Add +0.3% | 4.25% | +0.22 |
| SCHO Schwab Short-Term US Treas | Add +5.5% | 1.25% | −0.05 |
| SCHR Schwab Intermediate-Term US | Add +1.3% | 1.77% | −0.16 |
| INTU Intuit Inc. | Add +50.8% | 0.93% | −0.19 |
| MSFT Microsoft Corp. | Add +0.4% | 10.79% | −0.86 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 37 | $494.7M | GOOG, MSFT, AMZN, V, IQV |
| Q1 2026 | 36 | $453.2M | GOOG, MSFT, AMZN, TMUS, V |
| Q4 2025 | 38 | $555.9M | GOOG, MSFT, AMZN, IQV, V |
| Q3 2025 | 39 | $564.2M | MSFT, GOOG, AMZN, TMUS, V |
| Q2 2025 | 37 | $489.9M | MSFT, GOOG, AMZN, V, TMUS |
| Q1 2025 | 41 | $471.8M | MSFT, TMUS, GOOG, V, AMZN |
| Q4 2024 | 46 | $513.5M | MSFT, GOOG, AMZN, TMUS, V |
| Q3 2024 | 45 | $530.1M | MSFT, GOOG, TMUS, UNH, AMZN |
| Q2 2024 | 49 | $505.2M | MSFT, GOOG, AMZN, NXPI, TMUS |
| Q1 2024 | 48 | $497.9M | MSFT, GOOG, NXPI, AMZN, TMUS |