Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (8 quarters reported)
$697M in Q4 2024 → $1.02B now. Hover for any quarter.
As reported for the quarter ended September 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Nokia Oyj | 8.9% | Added 2213% | 8,988,606 | $91.1M |
| British American Tobacco PLC | 6.8% | Added 75% | 1,282,238 | $69.8M |
| Diageo PLC | 5.0% | Added 1.3% | 591,885 | $50.7M |
| Vodafone Group PLC | 4.0% | Added 2.9% | 2,495,977 | $40.3M |
| Cemex Sab De Cv | 3.8% | Added 739% | 4,092,041 | $38.9M |
| Natwest Group PLC | 3.3% | Trimmed 1.1% | 1,839,430 | $33.4M |
| Hsbc Holdings PLC | 2.9% | Added 4.3% | 295,720 | $29.4M |
| Intercontinental Hotels Group PLC | 2.9% | Added 19% | 182,617 | $29.4M |
| National Grid PLC | 2.7% | Added 19% | 359,541 | $27.3M |
| Ryanair Holdings PLC | 2.4% | Added 123% | 448,504 | $24.7M |
| Ing Groep Nv | 2.2% | Trimmed 37% | 638,927 | $22.7M |
| Gsk PLC | 2.2% | Trimmed 14% | 461,393 | $22.2M |
| Aegon Ltd | 1.8% | Added 36% | 2,127,083 | $18.4M |
| Lloyds Banking Group PLC | 1.6% | Trimmed 48% | 2,961,398 | $16.7M |
| Fresenius Medical Care Ag | 1.4% | Added 163% | 630,995 | $14.1M |
| Shell PLC | 1.4% | Trimmed 61% | 147,155 | $14M |
| Rio Tinto PLC | 1.3% | Trimmed 66% | 138,756 | $13.1M |
| Gold Fields Ltd | 1.3% | New | 356,567 | $12.9M |
| Takeda Pharmaceutical Co Ltd | 1.0% | New | 564,472 | $10.3M |
| Prudential PLC | 0.9% | Added 31% | 376,863 | $9.32M |
| America Movil Sab De Cv | 0.8% | Trimmed 25% | 385,016 | $8.16M |
| Sony Group Corp | 0.8% | Added 94% | 346,006 | $8.14M |
| Unilever PLC | 0.8% | Added 9.0% | 131,541 | $7.99M |
| Stmicroelectronics Nv | 0.7% | New | 143,189 | $7.64M |
| Marketaxess Holdings Inc | 0.7% | New | 46,236 | $7.58M |
| Digitalbridge Group Inc | 0.7% | Added 4.4% | 468,078 | $7.49M |
| Arcosa Inc | 0.7% | Added 5.3% | 50,769 | $7.42M |
| Synaptics Inc | 0.7% | Added 27% | 72,999 | $7.4M |
| Doubleverify Holdings Inc | 0.7% | New | 547,900 | $7.39M |
| Liveramp Holdings Inc | 0.7% | Added 5.5% | 196,971 | $7.39M |
| Atkore Inc | 0.7% | New | 77,890 | $7.38M |
| Bio-techne Corp | 0.7% | Added 1.4% | 101,793 | $7.38M |
| Marinemax Inc | 0.7% | New | 140,605 | $7.35M |
| Biolife Solutions Inc | 0.7% | New | 189,120 | $7.35M |
| Varex Imaging Corp | 0.7% | New | 396,901 | $7.32M |
| Safety Insurance Group Inc | 0.7% | New | 70,634 | $7.32M |
| Aes Corp | 0.7% | Added 103% | 488,802 | $7.28M |
| Trico Bancshares | 0.7% | New | 141,687 | $7.25M |
| PF Pnc Financial Services Group Inc/the | 0.7% | New | 32,477 | $7.22M |
| Bp PLC | 0.7% | Trimmed 79% | 162,246 | $7.14M |
| Penumbra Inc | 0.7% | Unchanged | 22,223 | $7.07M |
| Essential Utilities Inc | 0.7% | Trimmed 2.5% | 175,733 | $6.89M |
| Wpp PLC | 0.6% | Trimmed 11% | 259,620 | $6.42M |
| MU Mitsubishi Ufj Financial | 0.6% | New | 265,804 | $6.13M |
| Koninklijke Philips Nv | 0.6% | Added 0.0% | 237,377 | $5.8M |
| HI Hartford Insurance Group Inc/t | 0.5% | Added 20% | 45,189 | $5.53M |
| Federal Realty Investment Trust | 0.5% | Added 392% | 50,661 | $5.49M |
| Nathan's Famous Inc | 0.5% | Unchanged | 53,957 | $5.47M |
| Haleon PLC | 0.5% | Trimmed 46% | 599,904 | $5.4M |
| United Airlines Holdings Inc | 0.5% | New | 47,517 | $5.27M |
| Crown Castle Inc | 0.5% | Added 14% | 78,119 | $5.21M |
| Regions Financial Corp | 0.5% | Added 936% | 193,313 | $5.2M |
| Pearson PLC | 0.5% | Added 14% | 319,150 | $5.12M |
| Centerspace | 0.5% | New | 91,754 | $4.99M |
| Sanara Medtech Inc | 0.5% | New | 140,894 | $4.95M |
| Paychex Inc | 0.5% | New | 50,158 | $4.94M |
| Western Digital Corp | 0.5% | New | 10,292 | $4.68M |
| Bank Of New York Mellon Corp | 0.5% | Added 308% | 31,772 | $4.6M |
| Ameriprise Financial Inc | 0.4% | New | 9,098 | $4.48M |
| Silicon Laboratories Inc | 0.4% | New | 19,633 | $4.35M |
Showing top 60 of 411 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 7 quarters.
quarter ended September 30, 2026 · filed October 23, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Nokia Oyj | Added | +8,600,004 | +$87.2M | 8.9% |
| Cemex Sab De Cv | Added | +3,604,436 | +$34.3M | 3.8% |
| British American Tobacco PLC | Added | +551,082 | +$30M | 6.8% |
| Bp PLC | Trimmed | −628,260 | −$27.6M | 0.7% |
| Rio Tinto PLC | Trimmed | −267,513 | −$25.2M | 1.3% |
| Shell PLC | Trimmed | −231,099 | −$22M | 1.4% |
| NN Novo Nordisk A/s | Exited | −369,120 | −$17.7M | — |
| Lloyds Banking Group PLC | Trimmed | −2,728,020 | −$15.4M | 1.6% |
| Ryanair Holdings PLC | Added | +247,362 | +$13.6M | 2.4% |
| Ing Groep Nv | Trimmed | −367,373 | −$13M | 2.2% |
Showing the 10 largest of 363 changes.
quarter ended June 30, 2026 · filed July 20, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Lloyds Banking Group PLC | Added | +5,658,508 | +$33M | 3.6% |
| Ing Groep Nv | New | +1,006,300 | +$31.6M | 3.4% |
| E( Ericsson (lm) | Exited | −2,333,866 | −$26.3M | — |
| British American Tobacco PLC | Added | +340,428 | +$21M | 4.9% |
| NN Novo Nordisk A/s | New | +369,120 | +$17.7M | 1.9% |
| Rio Tinto PLC | Added | +126,462 | +$12M | 4.2% |
| Vodafone Group PLC | Trimmed | −899,784 | −$11.9M | 3.5% |
| Natwest Group PLC | Added | +568,174 | +$10M | 3.5% |
| Asml Holding Nv | Exited | −7,406 | −$9.78M | — |
| Cemex Sab De Cv | Trimmed | −685,868 | −$8.23M | 0.6% |
Showing the 10 largest of 466 changes.
quarter ended March 31, 2026 · filed May 04, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Barclays PLC | Exited | −1,546,396 | −$39.4M | — |
| British American Tobacco PLC | Trimmed | −527,925 | −$30.9M | 3.0% |
| Harmony Gold Mining Co Ltd | Trimmed | −1,747,329 | −$26.9M | 1.5% |
| Sibanye Stillwater Ltd | Exited | −1,749,026 | −$24.9M | — |
| Novartis Ag | Exited | −176,749 | −$24.4M | — |
| Carnival PLC | Trimmed | −937,720 | −$24.2M | 0.2% |
| E( Ericsson (lm) | Trimmed | −2,055,143 | −$23.2M | 3.5% |
| Haleon PLC | Trimmed | −2,312,074 | −$23.1M | 0.6% |
| Ing Groep Nv | Exited | −556,894 | −$15.6M | — |
| Smith & Nephew PLC | Trimmed | −467,275 | −$14.8M | 1.2% |
Showing the 10 largest of 465 changes.
quarter ended December 31, 2025 · filed February 04, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Astrazeneca PLC | Trimmed | −541,212 | −$49.8M | 1.2% |
| Sibanye Stillwater Ltd | Trimmed | −2,283,786 | −$32.5M | 2.3% |
| Harmony Gold Mining Co Ltd | Added | +1,467,370 | +$29.2M | 4.6% |
| Tenaris Sa | Exited | −775,204 | −$27.7M | — |
| Gsk PLC | Added | +501,590 | +$24.6M | 2.7% |
| Novartis Ag | New | +176,749 | +$24.4M | 2.3% |
| Relx PLC | Trimmed | −540,959 | −$21.9M | 0.4% |
| Stmicroelectronics Nv | Exited | −620,238 | −$17.5M | — |
| Prudential PLC | Trimmed | −521,901 | −$16.2M | 0.7% |
| Barclays PLC | Added | +586,115 | +$14.9M | 3.7% |
Showing the 10 largest of 426 changes.
quarter ended September 30, 2025 · filed November 06, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Astrazeneca PLC | Added | +461,831 | +$35.4M | 5.1% |
| Sibanye Stillwater Ltd | Added | +2,912,995 | +$32.7M | 4.5% |
| Novartis Ag | Exited | −208,708 | −$25.3M | — |
| Harmony Gold Mining Co Ltd | New | +1,021,504 | +$18.5M | 1.8% |
| Ing Groep Nv | Added | +664,063 | +$17.3M | 2.3% |
| IC Ishares China Large-cap ETF | New | +407,107 | +$16.7M | 1.6% |
| Aegon Ltd | New | +2,081,868 | +$16.6M | 1.6% |
| E( Ericsson (lm) | Trimmed | −1,911,534 | −$15.8M | 2.6% |
| Cemex Sab De Cv | Exited | −2,235,569 | −$15.5M | — |
| Haleon PLC | Added | +1,675,889 | +$15M | 2.4% |
Showing the 10 largest of 308 changes.
quarter ended June 30, 2025 · filed August 08, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Novartis Ag | New | +208,708 | +$25.3M | 2.9% |
| Smith & Nephew PLC | Added | +821,393 | +$25.2M | 3.1% |
| RP Relx PLC (ex Reed Elsevier Plc) | Added | +366,761 | +$19.9M | 3.5% |
| British American Tobacco PLC | Added | +403,115 | +$19.1M | 4.7% |
| E( Ericsson (lm) | Added | +2,009,723 | +$17M | 5.0% |
| Vodafone Group PLC | Added | +1,598,700 | +$17M | 3.6% |
| Cemex Sab De Cv | New | +2,235,569 | +$15.5M | 1.8% |
| Diageo PLC | Added | +141,195 | +$14.2M | 3.6% |
| Gold Fields Ltd | Exited | −579,476 | −$12.8M | — |
| Sap Se | New | +41,448 | +$12.6M | 1.4% |
Showing the 10 largest of 286 changes.
quarter ended March 31, 2025 · filed May 09, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Tenaris Sa | Trimmed | −703,190 | −$27.5M | 1.0% |
| E( Ericsson (lm) | New | +3,111,626 | +$24.1M | 4.5% |
| Bp PLC | Trimmed | −661,765 | −$22.4M | 1.0% |
| Barclays PLC | Exited | −1,618,812 | −$21.5M | — |
| Harmony Gold Mining Co Ltd | Exited | −2,463,933 | −$20.2M | — |
| Astrazeneca PLC | New | +274,642 | +$20.2M | 3.8% |
| Novartis Ag | Exited | −203,424 | −$19.8M | — |
| British American Tobacco PLC | Trimmed | −407,592 | −$16.9M | 3.5% |
| Diageo PLC | Trimmed | −129,071 | −$13.5M | 3.3% |
| Vodafone Group PLC | Trimmed | −1,293,182 | −$12.1M | 2.4% |
Showing the 10 largest of 295 changes.
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