Act Two Investors LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Act Two Investors LLC reported 37 stock positions worth $489.9 million. Its top holding was Microsoft (MSFT) at 15.3% of the portfolio, followed by Alphabet Class C (GOOG, 9.6%) and Amazon.com (AMZN, 8.5%). Compared with Q1 2025, it opened 2 new positions, sold out of 6, added to 6 and reduced 12. The biggest buy was a new position in Iqvia (IQV) and the biggest sale an exit from Sysco (SYY).
- Most Recent 13F
- Q2 2026
- Location
- SANTA CRUZ, CA
- CIK
- 0001766907
- Portfolio Value
- $489.9M (Q2 2025)
- SEC Filing
- 0001214659-25-011870 ↗ filed Aug 12, 2025
Holdings Value
Holdings 37 stocks · $489.9M
| MSFT Microsoft Corp. | 15.28% | 150,484 | $74.9M | Reduce -0.8% |
| GOOG Alphabet Inc. Class C | 9.59% | 264,884 | $47.0M | Reduce -4.4% |
| AMZN Amazon.com Inc. | 8.45% | 188,723 | $41.4M | Reduce -0.5% |
| V Visa Inc. Class A | 7.69% | 106,166 | $37.7M | Reduce -0.9% |
| TMUS T-Mobile US Inc. | 7.59% | 156,156 | $37.2M | Reduce -9.9% |
| ES Eversource Energy | 5.68% | 437,012 | $27.8M | Add +42.3% |
| IQV Iqvia Holdings Inc. | 5.42% | 168,336 | $26.5M | New |
| AZN Astrazeneca PLC-Spons ADR | 5.20% | 364,512 | $25.5M | Add +33.9% |
| FISV Fiserv Inc. | 5.00% | 142,177 | $24.5M | Add +71.0% |
| IEF iShares 7-10 Year Treasury B | 4.75% | 242,759 | $23.2M | Add +28.6% |
| AAPL Apple Inc. | 3.66% | 87,464 | $17.9M | No change |
| NVDA Nvidia Corp. | 3.45% | 107,128 | $16.9M | Reduce -1.0% |
| AMGN Amgen Inc. | 2.63% | 46,220 | $12.9M | New |
| NXPI NXP Semiconductors NV | 2.01% | 45,020 | $9.8M | Reduce -58.7% |
| SCHO Schwab Short-Term US Treas | 1.97% | 394,909 | $9.6M | Add +9.8% |
| SCHR Schwab Intermediate-Term US | 1.90% | 371,118 | $9.3M | Add +2.0% |
| JPM JPMorgan Chase & Co. | 1.67% | 28,287 | $8.2M | No change |
| MCK McKesson Corp. | 1.35% | 9,017 | $6.6M | No change |
| SYK Stryker Corp. | 1.18% | 14,605 | $5.8M | Reduce -1.5% |
| GOOGL Alphabet Inc. Class A | 0.70% | 19,497 | $3.4M | Reduce -5.9% |
| CNI Canadian Natl Railway Co. | 0.70% | 33,020 | $3.4M | No change |
| CP Canadian Pacific Kansas City | 0.56% | 34,685 | $2.7M | No change |
| TMO Thermo Fisher Scientific Inc. | 0.56% | 6,710 | $2.7M | No change |
| META Meta Platforms Inc. Class A | 0.54% | 3,594 | $2.7M | No change |
| SLM SLM Corp. | 0.53% | 79,160 | $2.6M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.47% | 4,778 | $2.3M | Reduce -0.3% |
| MCD McDonald's Corp. | 0.40% | 6,720 | $2.0M | No change |
| ORCL Oracle Corp. | 0.19% | 4,177 | $913K | No change |
| AON Aon PLC Class A | 0.15% | 2,121 | $757K | No change |
| BKNG Booking Holdings Inc. | 0.15% | 128 | $741K | Reduce -22.9% |
| XLF SS Financial Select Sector | 0.11% | 10,168 | $532K | No change |
| EWBC East West Bancorp Inc. | 0.11% | 5,270 | $532K | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.10% | 2,078 | $471K | No change |
| NFLX Netflix Inc. | 0.08% | 280 | $375K | No change |
| AXP American Express Co. | 0.07% | 1,060 | $338K | No change |
| WTW Willis Towers Watson PLC | 0.06% | 1,029 | $315K | No change |
| PRU Prudential Financial Inc. | 0.04% | 1,990 | $214K | Reduce -99.1% |
Portfolio Sells Q1 2025 → Q2 2025
| SYY Sysco Corp. | Sold out | 0.00% | −5.34 |
| PRU Prudential Financial Inc. | Reduce -99.1% | 0.04% | −5.20 |
| NXPI NXP Semiconductors NV | Reduce -58.7% | 2.01% | −2.38 |
| TMUS T-Mobile US Inc. | Reduce -9.9% | 7.59% | −2.20 |
| BX Blackstone Inc. | Sold out | 0.00% | −1.50 |
| BND Vanguard Total Bond Market | Sold out | 0.00% | −0.87 |
| V Visa Inc. Class A | Reduce -0.9% | 7.69% | −0.26 |
| VCIT Vanguard Int-Term Corporate | Sold out | 0.00% | −0.16 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.3% | 0.47% | −0.07 |
| NOC Northrop Grumman Corp. | Sold out | 0.00% | −0.06 |
| VTI VG Morningstar TS MKT ETF-US | Sold out | 0.00% | −0.06 |
| BKNG Booking Holdings Inc. | Reduce -22.9% | 0.15% | −0.01 |
| SYK Stryker Corp. | Reduce -1.5% | 1.18% | +0.01 |
| GOOGL Alphabet Inc. Class A | Reduce -5.9% | 0.70% | +0.02 |
| GOOG Alphabet Inc. Class C | Reduce -4.4% | 9.59% | +0.41 |
| AMZN Amazon.com Inc. | Reduce -0.5% | 8.45% | +0.80 |
| NVDA Nvidia Corp. | Reduce -1.0% | 3.45% | +0.97 |
| MSFT Microsoft Corp. | Reduce -0.8% | 15.28% | +3.20 |
Portfolio Buys Q1 2025 → Q2 2025
| IQV Iqvia Holdings Inc. | New | 5.42% | +5.42 |
| AMGN Amgen Inc. | New | 2.63% | +2.63 |
| ES Eversource Energy | Add +42.3% | 5.68% | +1.63 |
| FISV Fiserv Inc. | Add +71.0% | 5.00% | +1.11 |
| AZN Astrazeneca PLC-Spons ADR | Add +33.9% | 5.20% | +0.96 |
| IEF iShares 7-10 Year Treasury B | Add +28.6% | 4.75% | +0.93 |
| SCHO Schwab Short-Term US Treas | Add +9.8% | 1.97% | +0.11 |
| SCHR Schwab Intermediate-Term US | Add +2.0% | 1.90% | −0.02 |
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 |