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

As of Jun 30, 2025, the Alapocas Investment Partners portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Jul 30, 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 Q2 2025, the filing reported:

New Buys – None reported

Increases – None reported

Reductions – Adobe Inc. (ADBE), Mastercard Incorporated (MA), UnitedHealth Group Incorporated (UNH), American Tower Corporation (REI (AMT), Automatic Data Processing, Inc. (ADP), and 15 more

Complete Exits – NVR, Inc. (NVR), Progressive Corporation (The) (PGR)

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

Alapocas Investment Partners Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q2 2025Jun 30, 2025	ADBE Adobe Inc.	Adobe Inc.	Sell	-7-0.0%	$12.04M	31,115
Q2 2025Jun 30, 2025	NVR NVR, Inc.	NVR, Inc.	Sell - Position Exit	-31-100.0%	$0.00	-
Q2 2025Jun 30, 2025	MA Mastercard Incorporated	Mastercard Incorporated	Sell	-50-1.2%	$2.33M	4,152
Q2 2025Jun 30, 2025	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Sell	-830-5.3%	$4.60M	14,737
Q2 2025Jun 30, 2025	PGR Progressive Corporation (The)	Progressive Corporation (The)	Sell - Position Exit	-901-100.0%	$0.00	-
Q2 2025Jun 30, 2025	AMT American Tower Corporation (REI	American Tower Corporation (REI	Sell	-960-16.7%	$1.06M	4,791
Q2 2025Jun 30, 2025	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-1,030-14.8%	$1.83M	5,949
Q2 2025Jun 30, 2025	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Sell	-1,125-10.8%	$9.16M	9,248
Q2 2025Jun 30, 2025	MCO Moody's Corporation	Moody's Corporation	Sell	-1,313-6.1%	$10.19M	20,306
Q2 2025Jun 30, 2025	RACE Ferrari	Ferrari	Sell	-1,358-6.6%	$9.42M	19,198
Q2 2025Jun 30, 2025	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-1,500-27.8%	$687.30K	3,900
Q2 2025Jun 30, 2025	DHR Danaher Corporation	Danaher Corporation	Sell	-1,553-7.6%	$3.73M	18,896
Q2 2025Jun 30, 2025	ALGN Align Technology, Inc.	Align Technology, Inc.	Sell	-2,035-5.7%	$6.39M	33,774
Q2 2025Jun 30, 2025	QLYS Qualys, Inc.	Qualys, Inc.	Sell	-2,089-3.9%	$7.31M	51,156
Q2 2025Jun 30, 2025	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-2,748-3.3%	$14.35M	80,909
Q2 2025Jun 30, 2025	V Visa Inc.	Visa Inc.	Sell	-3,009-7.1%	$13.98M	39,361
Q2 2025Jun 30, 2025	AAPL Apple Inc.	Apple Inc.	Sell	-3,634-5.9%	$11.84M	57,726
Q2 2025Jun 30, 2025	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-4,633-5.5%	$17.41M	79,344
Q2 2025Jun 30, 2025	TJX TJX Companies, Inc. (The)	TJX Companies, Inc. (The)	Sell	-6,005-6.9%	$9.95M	80,548
Q2 2025Jun 30, 2025	TREX Trex Company, Inc.	Trex Company, Inc.	Sell	-6,176-5.4%	$5.91M	108,701
Q2 2025Jun 30, 2025	CPRT Copart, Inc.	Copart, Inc.	Sell	-11,931-6.2%	$8.92M	181,711
Q2 2025Jun 30, 2025	STLA Stellantis	Stellantis	Sell	-14,867-3.0%	$4.76M	474,584
Q1 2025Mar 31, 2025	QLYS Qualys, Inc.	Qualys, Inc.	Buy - Position Entry	+53,245	$6.71M	53,245
Q1 2025Mar 31, 2025	ALGN Align Technology, Inc.	Align Technology, Inc.	Buy	+10,011+38.8%	$5.69M	35,809
Q1 2025Mar 31, 2025	ADBE Adobe Inc.	Adobe Inc.	Buy	+4,665+17.6%	$11.94M	31,122
Q1 2025Mar 31, 2025	MA Mastercard Incorporated	Mastercard Incorporated	Sell	-175-4.0%	$2.30M	4,202
Q1 2025Mar 31, 2025	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-189-2.6%	$2.13M	6,979
Q1 2025Mar 31, 2025	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Sell	-492-3.1%	$8.15M	15,567
Q1 2025Mar 31, 2025	MCO Moody's Corporation	Moody's Corporation	Sell	-547-2.5%	$10.07M	21,619
Q1 2025Mar 31, 2025	RACE Ferrari	Ferrari	Sell	-659-3.1%	$8.80M	20,556

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