David Lemons – Alapocas Investment Partners Portfolio Activity & Recent Trades (Sep 30, 2025)

As of Sep 30, 2025, the Alapocas Investment Partners portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 14, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q3 2025, the filing reported:

New Buys –

None reported

Increases –

None reported

Reductions – Apple Inc., Adobe Inc., Automatic Data Processing, Inc., Align Technology, Inc., American Tower Corporation (REI, and 13 more

Complete Exits – UnitedHealth Group Incorporated

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q3 2025	AAPL Apple Inc.	Apple Inc.	Sell	-1,459	-2.5%	$14.33M	56,267
Q3 2025	ADBE Adobe Inc.	Adobe Inc.	Sell	-667	-2.1%	$10.74M	30,448
Q3 2025	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-267	-4.5%	$1.67M	5,682
Q3 2025	ALGN Align Technology, Inc.	Align Technology, Inc.	Sell	-4,640	-13.7%	$3.65M	29,134
Q3 2025	AMT American Tower Corporation (REI	American Tower Corporation (REI	Sell	-575	-12.0%	$810.82K	4,216
Q3 2025	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-1,810	-2.3%	$17.02M	77,534
Q3 2025	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Sell	-2,108	-22.8%	$6.61M	7,140
Q3 2025	CPRT Copart, Inc.	Copart, Inc.	Sell	-3,852	-2.1%	$8.00M	177,859
Q3 2025	DHR Danaher Corporation	Danaher Corporation	Sell	-163	-0.9%	$3.71M	18,733
Q3 2025	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-2,286	-2.8%	$19.15M	78,623
Q3 2025	MA Mastercard Incorporated	Mastercard Incorporated	Sell	-8	-0.2%	$2.36M	4,144
Q3 2025	MCO Moody's Corporation	Moody's Corporation	Sell	-5,904	-29.1%	$6.86M	14,402
Q3 2025	QLYS Qualys, Inc.	Qualys, Inc.	Sell	-1,040	-2.0%	$6.63M	50,116
Q3 2025	RACE Ferrari	Ferrari	Sell	-442	-2.3%	$9.10M	18,756
Q3 2025	STLA Stellantis	Stellantis	Sell	-12,163	-2.6%	$4.32M	462,421
Q3 2025	TJX TJX Companies, Inc. (The)	TJX Companies, Inc. (The)	Sell	-1,933	-2.4%	$11.36M	78,615
Q3 2025	TREX Trex Company, Inc.	Trex Company, Inc.	Sell	-2,588	-2.4%	$5.48M	106,113
Q3 2025	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Sell - Position Exit	-14,737	-100.0%	$0.00	-
Q3 2025	V Visa Inc.	Visa Inc.	Sell	-1,078	-2.7%	$13.07M	38,283
Q2 2025	AAPL Apple Inc.	Apple Inc.	Sell	-3,634	-5.9%	$11.84M	57,726
Q2 2025	ADBE Adobe Inc.	Adobe Inc.	Sell	-7	-0.0%	$12.04M	31,115
Q2 2025	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-1,030	-14.8%	$1.83M	5,949
Q2 2025	ALGN Align Technology, Inc.	Align Technology, Inc.	Sell	-2,035	-5.7%	$6.39M	33,774
Q2 2025	AMT American Tower Corporation (REI	American Tower Corporation (REI	Sell	-960	-16.7%	$1.06M	4,791
Q2 2025	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-4,633	-5.5%	$17.41M	79,344
Q2 2025	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Sell	-1,125	-10.8%	$9.16M	9,248
Q2 2025	CPRT Copart, Inc.	Copart, Inc.	Sell	-11,931	-6.2%	$8.92M	181,711
Q2 2025	DHR Danaher Corporation	Danaher Corporation	Sell	-1,553	-7.6%	$3.73M	18,896
Q2 2025	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-2,748	-3.3%	$14.35M	80,909
Q2 2025	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-1,500	-27.8%	$687.30K	3,900