The following 16 positions were fully exited in Q1 2026. Subsequent price performance (through May 2026) provides partial context on the timing of each exit, though 13F data cannot capture the specific price at which shares were sold within the quarter.¹

Ticker	Name	Prior Value	Prior Shares	YTD Perf. (since exit)	1Y Perf.
V	Visa Inc	$2.91B	8,297,460	-5.9%	-10.1%
MA	Mastercard Inc	$2.28B	3,986,648	-12.5%	-14.0%
UNH	UnitedHealth Group	$1.66B	5,039,564	+17.9%	+21.0%
DPZ	Domino's Pizza	$1.40B	3,350,000	—	—
AON	Aon PLC	$1.27B	3,602,995	—	—
POOL	Pool Corp	$702.0M	3,068,885	—	—
AMZN	Amazon.com	$525.3M	2,276,000	—	—
HEI-A	Heico Corp	$326.8M	1,294,612	—	—
FWONK	Liberty Media (Formula One)	$297.4M	3,018,555	—	—
CHTR	Charter Communications	$221.5M	1,060,882	—	—
LAMR	Lamar Advertising	$152.2M	1,202,410	—	—
ALLE	Allegion PLC	$124.2M	780,133	—	—

The exit of Visa and Mastercard — two of the highest-quality payment networks globally — is notable. Both have declined since the exit: V is down 5.9% YTD and 10.1% over the trailing year; MA is down 12.5% YTD and 14.0% over the trailing year, suggesting the timing was favorable.^11,12

The UnitedHealth exit stands out on the other side. UNH is up 17.9% YTD and 21.0% over the trailing year following the exit — though the stock had declined 19% over the prior 3 years before this recovery.¹³

Constellation Brands (STZ) was nearly fully exited (95.1% of shares sold). STZ has declined 22.7% over the trailing year and 37.8% over three years — a structurally weak performer where the timing of the near-exit appears justified by the underlying trend.¹⁵

The exits of Nucor (NUE, where shares were reduced 39.0% rather than fully exited) and Chevron (CVX, reduced 35.2%) look less well-timed in hindsight: NUE is up 35.9% YTD and 92.8% over the trailing year, while CVX is up 29.5% YTD.^14,7

Q1 2026: Greg Abel's First Filing — 16 Exits, a Tripled Alphabet Stake, and a Leaner 29-Position Portfolio

The Power Delivery Gap