Sullivan Wood Capital Management LLC

2. Key Holdings

The portfolio is dominated by a few large positions, creating a "barbell" dynamic between a massive top holding and a long tail of smaller positions.

• Galaxy Digital Inc. (GLXY): This is the unequivocal flagship position, valued at $29.54 million and comprising 44.55% of the entire portfolio. The firm added $12.32 million (+6.7%) to this stake during the quarter. This massive exposure indicates a strong thematic bet on the digital asset and cryptocurrency financial services sector.
• Sofi Technologies Inc. (SOFI): The second-largest holding at $5.00 million (7.54%). The manager increased this stake by 25.5%, adding nearly $1 million, signaling sustained confidence in the fintech and personal lending ecosystem.
• Alphabet Inc. (GOOG): The largest traditional technology holding, representing 6.09% of the portfolio. The position was increased by 9.3%, suggesting a view that the communication services giant remains undervalued or poised for growth.
• Celsius Holdings Inc. (CELH): A notable consumer staple/health position, making up 5.57% of the portfolio. This indicates a willingness to invest in high-growth, potentially volatile consumer brands.
• New "Mega-Cap" Entries: The firm initiated significant positions in Amazon ($3.38M), Chipotle ($2.17M), and Apple ($1.59M). These are substantial capital deployments that immediately rank among the top 10 holdings, shifting the portfolio's quality profile toward established large-cap leaders.