CONTRAVISORY INVESTMENT MANAGEMENT, INC.

Contravisory Investment Management's $566.1 million Q2 2026 book (up 16.0% from $488.1 million) shows a coherent rotation beneath 391 holdings. On the sell side: Palantir Technologies (PLTR, -$7.1 million), Bank of America (BAC, -$10.5 million), American Express (AXP, -$8.5 million), and Mastercard (MA, -$8.0 million) were all exited entirely, alongside Cencora (COR), Cintas (CTAS), IBM, and Vistra (VST) — 15 full exits in total this quarter. On the buy side, the new capital landed in a cluster of semiconductor-equipment and materials names: ASML Holding ($11.2 million), Amphenol (APH, $11.2 million), Lam Research (LRCX, $2.3 million), and Cameco (CCJ, $7.3 million) — plus Rockwell Automation (ROK, $9.0 million), Terex (TEX, $9.9 million), EMCOR Group (EME, $9.6 million), and Otter Tail Corp (OTTR, $7.8 million), 15 new positions in all. The fund's top holding, KLA Corp (KLAC), nearly doubled in dollar value to $23.6 million (4.2% of assets, up from 2.5%), while Taiwan Semiconductor (TSM) grew to $19.9 million (3.5%). Financial Services fell to $36.4 million of the book after the BAC/AXP/MA exits, even as JPMorgan (JPM) and Goldman Sachs (GS) both grew in dollar terms. The net effect: less exposure to payment networks, consumer banking, and a high-multiple data-analytics name, more exposure to chip-equipment makers, connectors, and industrial/materials names.