David Lemons' Portfolio Shows Widespread Share Reductions in Q1 2026

David Lemons' portfolio experienced significant reductions in most holdings during the quarter, with notable decreases in major tech and consumer stocks, while a small position in Costco saw slight growth.

By AI Generated.May 20, 2026, 5:50 PM

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Alapocas Investment Partners

David Lemons' Portfolio Shows Widespread Share Reductions in Q1 2026

As of March 31, 2026, David Lemons' portfolio managed by Alapocas Investment Partners held a total value of approximately $132.1 million, with significant allocations concentrated in Technology and Consumer Cyclical sectors.

Across most of his top holdings, Lemons reduced his positions during the quarter. Alphabet Inc. (GOOG) saw its share count decrease by 5.98%, while Amazon.com Inc. (AMZN) and Apple Inc. (AAPL) each experienced reductions of 3.46% and 5.32%, respectively. The portfolio allocation for Alphabet Inc. (GOOG) dropped to 16.05%, while Amazon.com Inc. (AMZN) and Apple Inc. (AAPL) now stand at 11.8% and 10.23% respectively.

Consumer Cyclical holdings also saw reductions, with TJX Cos. Inc. (TJX) and Target Corporation (TGT) experiencing decreases of 4.54% and 3.11% in share count, resulting in portfolio allocations of 9.07% and 4.33%. Visa Inc. (V) in the Financial Services sector also saw a reduction of 4.3%, lowering its portfolio allocation to 8.38%.

Technology sector holdings continued to show reductions, with Adobe Inc. (ADBE) experiencing a significant 9.56% decrease in shares, reducing its portfolio allocation to 5.07%. Other Technology positions like Mastercard Inc. (MCO) and Copart Inc. (CPRT) also saw decreases of 2.96% and 3.11%, respectively.

Notably, the only position that saw an increase during the quarter was Costco Wholesale Corporation (COST), with a 3.78% increase in shares. Lemons' stake in this Consumer Defensive stock now stands at a 5.18% allocation.