Troluce Capital Advisors LLC

2. Key Holdings

The largest position is the SPDR S&P 500 ETF (SPY), comprising 23.18% of the portfolio ($99.93M). Notably, this position was increased by 200% during the quarter, suggesting the manager is using ETF exposure as a liquidity buffer or a core "beta" anchor while reallocating capital around it.

The second-largest holding is Kenvue Inc (KVUE) at 18.16% ($78.31M). This stake was aggressively increased by 359.5%, adding over $56 million. This massive accumulation indicates a strong bullish outlook on the consumer healthcare and consumer defensive giant, likely viewing it as undervalued or a stable cash-flow generator.