Act Two Investors LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 8, 2026), Act Two Investors LLC reported 36 stock positions worth $453.2 million. Its top holding was Alphabet Class C (GOOG) at 15.0% of the portfolio, followed by Microsoft (MSFT, 11.7%) and Amazon.com (AMZN, 8.2%). Compared with Q4 2025, it opened 2 new positions, sold out of 4, added to 4 and reduced 20. The biggest buy was SLM (SLM, shares +1786%) and the biggest sale an exit from Astrazeneca PLC-Spons ADR (AZN).
- Most Recent 13F
- Q2 2026
- Location
- SANTA CRUZ, CA
- CIK
- 0001766907
- Portfolio Value
- $453.2M (Q1 2026)
- SEC Filing
- 0001214659-26-005757 ↗ filed May 8, 2026
Holdings Value
Holdings 36 stocks · $453.2M
| GOOG Alphabet Inc. Class C | 14.98% | 236,600 | $67.9M | Reduce -6.9% |
| MSFT Microsoft Corp. | 11.65% | 142,660 | $52.8M | Reduce -2.3% |
| AMZN Amazon.com Inc. | 8.16% | 177,475 | $37.0M | Reduce -2.2% |
| TMUS T-Mobile US Inc. | 7.03% | 151,750 | $31.9M | Reduce -3.4% |
| V Visa Inc. Class A | 6.95% | 104,171 | $31.5M | Add +1.5% |
| ES Eversource Energy | 6.26% | 409,326 | $28.4M | Reduce -3.7% |
| IQV Iqvia Holdings Inc. | 5.97% | 158,622 | $27.1M | Reduce -3.7% |
| IEF iShares 7-10 Year Treasury B | 4.38% | 207,870 | $19.8M | Reduce -13.3% |
| AAPL Apple Inc. | 4.32% | 77,212 | $19.6M | Reduce -5.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 4.28% | 201,332 | $19.4M | Add +18.9% |
| NVDA Nvidia Corp. | 4.04% | 104,852 | $18.3M | Add +0.9% |
| SLM SLM Corp. | 3.34% | 707,577 | $15.1M | Add +1786.2% |
| ADP Automatic Data Processing | 2.10% | 46,829 | $9.5M | New |
| SCHR Schwab Intermediate-Term US | 1.92% | 349,960 | $8.7M | Reduce -5.0% |
| JPM JPMorgan Chase & Co. | 1.78% | 27,491 | $8.1M | Reduce -2.8% |
| MCK McKesson Corp. | 1.70% | 8,920 | $7.7M | No change |
| LLY Eli Lilly & Co. | 1.66% | 8,174 | $7.5M | Reduce -3.1% |
| SCHO Schwab Short-Term US Treas | 1.30% | 242,756 | $5.9M | Reduce -15.1% |
| VGLT Vanguard Long-Term Treasury | 1.20% | 97,830 | $5.4M | Reduce -9.2% |
| INTU Intuit Inc. | 1.11% | 11,672 | $5.0M | New |
| SYK Stryker Corp. | 0.87% | 11,965 | $3.9M | Reduce -0.7% |
| GOOGL Alphabet Inc. Class A | 0.80% | 12,590 | $3.6M | Reduce -13.3% |
| CNI Canadian Natl Railway Co. | 0.75% | 33,020 | $3.4M | Reduce -77.4% |
| TMO Thermo Fisher Scientific Inc. | 0.73% | 6,710 | $3.3M | No change |
| CP Canadian Pacific Kansas City | 0.61% | 35,181 | $2.8M | No change |
| MCD McDonald's Corp. | 0.47% | 6,820 | $2.1M | No change |
| META Meta Platforms Inc. Class A | 0.45% | 3,550 | $2.0M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.31% | 2,946 | $1.4M | Reduce -9.1% |
| AON Aon PLC Class A | 0.16% | 2,275 | $734K | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.15% | 2,078 | $702K | No change |
| NFLX Netflix Inc. | 0.14% | 6,560 | $631K | Reduce -90.8% |
| BKNG Booking Holdings Inc. | 0.13% | 141 | $594K | No change |
| EWBC East West Bancorp Inc. | 0.12% | 5,270 | $563K | No change |
| AXP American Express Co. | 0.07% | 979 | $296K | No change |
| ORCL Oracle Corp. | 0.06% | 1,740 | $256K | Reduce -53.5% |
| NXPI NXP Semiconductors NV | 0.05% | 1,189 | $234K | Reduce -74.7% |
Portfolio Sells Q4 2025 → Q1 2026
| AZN Astrazeneca PLC-Spons ADR | Sold out | 0.00% | −5.82 |
| ADBE Adobe Inc. | Sold out | 0.00% | −3.06 |
| CNI Canadian Natl Railway Co. | Reduce -77.4% | 0.75% | −1.85 |
| NFLX Netflix Inc. | Reduce -90.8% | 0.14% | −1.06 |
| MSFT Microsoft Corp. | Reduce -2.3% | 11.65% | −1.05 |
| IQV Iqvia Holdings Inc. | Reduce -3.7% | 5.97% | −0.71 |
| NXPI NXP Semiconductors NV | Reduce -74.7% | 0.05% | −0.13 |
| ORCL Oracle Corp. | Reduce -53.5% | 0.06% | −0.07 |
| XLF SS Financial Select Sector | Sold out | 0.00% | −0.06 |
| PRU Prudential Financial Inc. | Sold out | 0.00% | −0.04 |
| GOOGL Alphabet Inc. Class A | Reduce -13.3% | 0.80% | −0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -9.1% | 0.31% | +0.02 |
| LLY Eli Lilly & Co. | Reduce -3.1% | 1.66% | +0.03 |
| SCHO Schwab Short-Term US Treas | Reduce -15.1% | 1.30% | +0.05 |
| SYK Stryker Corp. | Reduce -0.7% | 0.87% | +0.11 |
| VGLT Vanguard Long-Term Treasury | Reduce -9.2% | 1.20% | +0.11 |
| JPM JPMorgan Chase & Co. | Reduce -2.8% | 1.78% | +0.14 |
| IEF iShares 7-10 Year Treasury B | Reduce -13.3% | 4.38% | +0.23 |
| SCHR Schwab Intermediate-Term US | Reduce -5.0% | 1.92% | +0.26 |
| AAPL Apple Inc. | Reduce -5.9% | 4.32% | +0.31 |
| AMZN Amazon.com Inc. | Reduce -2.2% | 8.16% | +0.62 |
| GOOG Alphabet Inc. Class C | Reduce -6.9% | 14.98% | +0.63 |
| ES Eversource Energy | Reduce -3.7% | 6.26% | +1.11 |
| TMUS T-Mobile US Inc. | Reduce -3.4% | 7.03% | +1.30 |
Portfolio Buys Q4 2025 → Q1 2026
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 |