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
Q1 2023Mar 31, 2023	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Sell	-479-3.3%	$7.08M	14,255
Q1 2023Mar 31, 2023	MCO Moody's Corporation	Moody's Corporation	Sell	-611-2.7%	$6.81M	22,268
Q1 2023Mar 31, 2023	AAPL Apple Inc.	Apple Inc.	Sell	-1,022-1.4%	$11.90M	72,155
Q1 2023Mar 31, 2023	TJX TJX Companies, Inc. (The)	TJX Companies, Inc. (The)	Sell	-1,550-1.8%	$6.65M	84,909
Q1 2023Mar 31, 2023	STLA Stellantis	Stellantis	Sell	-2,016-0.4%	$8.80M	483,744
Q1 2023Mar 31, 2023	RACE Ferrari	Ferrari	Sell	-3,463-13.9%	$5.81M	21,458
Q4 2022Dec 31, 2022	CPRT Copart, Inc.	Copart, Inc.	Buy	+51,002+90.5%	$6.54M	107,334
Q4 2022Dec 31, 2022	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+15,518+24.3%	$6.66M	79,323
Q4 2022Dec 31, 2022	TREX Trex Company, Inc.	Trex Company, Inc.	Buy	+11,810+10.3%	$5.35M	126,307
Q4 2022Dec 31, 2022	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+8,101+10.7%	$7.43M	83,741
Q4 2022Dec 31, 2022	AAPL Apple Inc.	Apple Inc.	Buy	+1,692+2.4%	$9.51M	73,177
Q4 2022Dec 31, 2022	AMT American Tower Corporation (REI	American Tower Corporation (REI	Buy	+1,496+5.1%	$6.48M	30,573
Q4 2022Dec 31, 2022	ADBE Adobe Inc.	Adobe Inc.	Buy	+767+4.5%	$5.98M	17,760
Q4 2022Dec 31, 2022	DHR Danaher Corporation	Danaher Corporation	Buy	+421+1.8%	$6.48M	24,399
Q4 2022Dec 31, 2022	MCO Moody's Corporation	Moody's Corporation	Buy	+67+0.3%	$6.37M	22,879
Q4 2022Dec 31, 2022	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Buy	+30+0.2%	$6.73M	14,734
Q4 2022Dec 31, 2022	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-8-0.1%	$1.79M	7,500
Q4 2022Dec 31, 2022	RACE Ferrari	Ferrari	Sell	-10-0.0%	$5.34M	24,921
Q4 2022Dec 31, 2022	MA Mastercard Incorporated	Mastercard Incorporated	Sell	-16-0.4%	$1.52M	4,375
Q4 2022Dec 31, 2022	V Visa Inc.	Visa Inc.	Sell	-676-1.6%	$8.46M	40,744
Q4 2022Dec 31, 2022	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Sell	-699-4.5%	$7.78M	14,672
Q4 2022Dec 31, 2022	TJX TJX Companies, Inc. (The)	TJX Companies, Inc. (The)	Sell	-1,422-1.6%	$6.88M	86,459
Q4 2022Dec 31, 2022	STLA Stellantis	Stellantis	Sell	-38,560-7.4%	$6.90M	485,760
Q3 2022Sep 30, 2022	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+71,940+1944.3%	$7.27K	75,640
Q3 2022Sep 30, 2022	STLA Stellantis	Stellantis	Buy	+13,055+2.6%	$6.21K	524,320
Q3 2022Sep 30, 2022	CPRT Copart, Inc.	Copart, Inc.	Buy	+10,740+23.6%	$5.99K	56,332
Q3 2022Sep 30, 2022	ADBE Adobe Inc.	Adobe Inc.	Buy	+5,492+47.8%	$4.68K	16,993
Q3 2022Sep 30, 2022	TREX Trex Company, Inc.	Trex Company, Inc.	Buy	+3,495+3.1%	$5.03K	114,497
Q3 2022Sep 30, 2022	GOOGL Alphabet Inc.	Alphabet Inc.	Buy	+3,263+1843.5%	$329.00	3,440
Q3 2022Sep 30, 2022	TJX TJX Companies, Inc. (The)	TJX Companies, Inc. (The)	Buy	+2,870+3.4%	$5.46K	87,881

Page 7 of 10 • 275 total trades

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