Quincy Lee's Q2 2026 Investment Activity: Focus on Financial Services, Major Wins & Losses

On June 30, 2026, Quincy Lee, managing the portfolio at Ancient Art (Teton Capital), saw their total holdings valued at approximately $470.6 million.

The investor maintained a significant allocation to the Financial Services sector, which represented 41.57% of the portfolio as of June 30th. Within this sector, Interactive Brokers Group Inc (IBKR), already holding over $111 million worth of stock representing about 22.86% of the total assets, remained unchanged from the previous period.

Airport Technology Holdings Ltd (ALLY) also maintained its position in Financial Services with a portfolio allocation of around $60 million or 12.28%, showing no change quarter-over-quarter.

Prominent Purchases This Quarter

In Q2 2026, Quincy Lee demonstrated strong buying activity across several sectors:

• Zillow Group Inc (Z): The investor significantly increased their stake in this Communication Services company. As of June 30th, the position held approximately $68 million worth of shares, representing a substantial jump from previous quarters.
• ROCKET Companies Inc (RKT): Lee added considerable exposure to Financial Services via Rocket Companies, boosting its portfolio allocation significantly during this period.
• Upwork Inc (UPWK): Another notable purchase occurred in the Communication Services sector with Upwork. The position saw a significant increase in both shares and value compared to prior periods.

This buying momentum was also evident in Coupang Inc (CPNG), which falls under Consumer Cyclical stocks, showing considerable growth quarter-over-quarter as highlighted by the data provided.

Notable Sales and Portfolio Adjustments

Conversely, Quincy Lee disposed of some holdings during Q2 2026:

• THRYV Holdings Inc (THRY): This was the most significant exit. The position decreased by a staggering -75.81% in terms of shares and saw its portfolio allocation drop to just 0.3%, indicating a major sell-off.

The investor also reduced their stake in Frontier Group Holdings Inc (ULCC), which operates in the Industrials sector, decreasing it by -23.3% compared to prior periods.

Sector Diversification and Overall Portfolio Stability

The portfolio maintained a healthy diversification across various sectors as of June 30th:

• Communication Services: $130 million (27.63%)
• Technology: $42 million (8.94%)
• Consumer Cyclical: $31 million (6.59%)
• Industrials: $22.7 million (4.83%)
• Unknown Sectors: $18.5 million (3.93%)
• Basic Materials and Energy sectors also contributed to the overall allocation.

The top five holdings accounted for 67.74% of the total portfolio value, suggesting a concentrated approach despite diversification efforts across different industries like Zillow, Rocket Companies, and Upwork. Holdings like Interactive Brokers, Ally Financial Inc., and Coupang showed stability with no changes in their share counts.

For a comprehensive view of Quincy Lee's investment activities during this period, please refer to the full filing data available at InsiderSet.