David Lemons' Portfolio: Heavyweight Tech & Consumer Focus

Top Holdings by Value

David Lemons' portfolio at Alapocas Investment Partners, as of March 31, 2026, is dominated by a select group of stocks. The top holding by value is Alphabet Inc. (GOOG), representing approximately $21.2 million, or 16.05% of the portfolio. This is followed by Amazon.com Inc. (AMZN) at $15.6 million (11.8%) and Apple Inc. (AAPL) at $13.5 million (10.23%).

Concentration in Key Sectors

The portfolio demonstrates a clear concentration towards large-cap technology and consumer-focused companies. Technology is the most prominent sector, home to three of the top five holdings by value (Alphabet, Amazon, and Apple), accounting for a total sector allocation of around 26.3% ($34.7 million). Consumer Cyclical is the second largest sector, with Amazon, T.J.X. Cos. Inc. (TJX), and Costco Wholesale Corporation (COST) combined making up approximately 27.7% ($36.9 million) of the portfolio. Financial Services is another significant allocation, with Visa Inc. (V) and Moody's Corporation (MCO) contributing about 12.4% ($16.4 million).

Recent Changes in Holdings

Several holdings in the portfolio have experienced changes in the number of shares held compared to the previous period. Alphabet Inc. (GOOG) saw a reduction of 0.0598% in its allocation, while Amazon.com Inc. (AMZN) decreased by 0.0346%. Apple Inc. (AAPL) also decreased its allocation by 0.0532%. Other notable decreases include T.J. X Cos. Inc. (TJX) down 0.0454%, Visa Inc. (V) down 0.0430%, Adobe Inc. (ADBE) down 0.0956%, Ferrari N.V. (RACE) down 0.0358%, Moody's Corporation (MCO) down 0.0296%, and Copart Inc. (CPRT) down 0.0311%. Conversely, Costco Wholesale Corporation (COST) saw a slight increase of 0.0038% in its allocation.

Portfolio Strategy Analysis

The investment strategy of David Lemons' portfolio at Alapocas Investment Partners appears heavily weighted towards established, large-cap technology and consumer-facing companies. The significant allocation to Technology (26.3%) and Consumer Cyclical (27.7%) sectors suggests a focus on companies driving innovation and benefiting from strong consumer spending trends. The inclusion of consumer defensive stocks like Costco Wholesale Corporation (COST) at a 5.18% allocation indicates some diversification into more stable sectors. The portfolio also includes exposure to Financial Services (12.4%) and Industrials (4.33%) through holdings like Visa, Moody's, and Copart. The strategy seems to favor large market capitalization stocks, with the top five holdings accounting for nearly 52.45% of the total portfolio value. The consistent reduction in shares across most holdings over the period might suggest a value realization or rebalancing strategy, although the slight increase in Costco's allocation is an exception.

Notable Holdings

Several other significant holdings contribute to the portfolio's composition. Visa Inc. (V) holds a substantial $11.07 million (8.38%) position, while Adobe Inc. (ADBE) is valued at $6.69 million (5.07%). The luxury automaker Ferrari N.V. (RACE) is held for $6.12 million (4.63%), and Copart Inc. (CPRT) represents $5.72 million (4.33%).