Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$960M in Q2 2013 → $821M now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Microsoft Corp | 10.9% | Trimmed 1.8% | 239,602 | $89.4M |
| Markel Group Inc | 10.5% | Trimmed 3.5% | 44,214 | $86.4M |
| Amazon Com Inc | 10.5% | Trimmed 3.9% | 360,572 | $85.9M |
| OA Oreilly Automotive Inc | 8.2% | Trimmed 2.5% | 731,153 | $67.3M |
| AT American Tower Corp New | 8.1% | Trimmed 2.0% | 407,116 | $66.6M |
| Apple Inc | 7.6% | Trimmed 6.0% | 215,158 | $62.3M |
| BH Berkshire Hathaway Inc Del | 6.5% | Trimmed 1.7% | 107,115 | $53.6M |
| Mastercard Incorporated | 4.0% | Trimmed 2.0% | 63,770 | $32.8M |
| Copart Inc | 3.7% | Trimmed 2.5% | 1,081,123 | $30.5M |
| Adobe Inc | 3.4% | Added 7.1% | 135,581 | $27.8M |
| WH Waystar Hldg Corp | 2.9% | Added 18% | 1,144,717 | $23.5M |
| Universal Display Corp | 2.4% | Trimmed 0.9% | 228,014 | $19.7M |
| BF Bok Finl Corp | 2.1% | Trimmed 0.8% | 124,017 | $17.2M |
| Amentum Holdings Inc | 2.0% | Trimmed 3.5% | 811,726 | $16.8M |
| Lockheed Martin Corp | 1.9% | Trimmed 1.8% | 31,375 | $16M |
| Visa Inc | 1.7% | Trimmed 2.1% | 40,207 | $13.8M |
| Atomera Inc | 1.6% | Added 0.5% | 1,468,660 | $12.8M |
| SC Sba Communications Corp New | 1.3% | Added 0.4% | 61,979 | $10.9M |
| Mplx LP | 1.3% | Trimmed 0.8% | 185,366 | $10.4M |
| ET Energy Transfer LP | 1.0% | Trimmed 0.2% | 450,367 | $8.61M |
| Energy Recovery Inc | 0.8% | Trimmed 15% | 693,886 | $6.26M |
| KM Kinder Morgan Inc Del | 0.6% | Trimmed 0.0% | 145,135 | $4.64M |
| EP Enterprise Prods Partners LP | 0.6% | Unchanged | 125,478 | $4.61M |
| BH Berkshire Hathaway Inc Del | 0.5% | Unchanged | 6 | $4.49M |
| Alphabet Inc | 0.5% | Added 1.9% | 10,975 | $3.88M |
| Molina Healthcare Inc | 0.4% | Trimmed 2.8% | 14,356 | $3.28M |
| Equinix Inc | 0.3% | Unchanged | 2,741 | $2.86M |
| Coherent Corp | 0.3% | Trimmed 7.0% | 5,681 | $2.24M |
| SP Starwood Ppty Tr Inc | 0.3% | Trimmed 1.3% | 134,478 | $2.2M |
| Axos Financial Inc. | 0.2% | Unchanged | 20,790 | $2.02M |
| Cytosorbents Corp | 0.2% | Trimmed 0.5% | 5,189,218 | $1.94M |
| Sprott Physical Gold Trust | 0.2% | Unchanged | 60,310 | $1.82M |
| AB Adaptive Biotechnologies Cor | 0.2% | Trimmed 2.0% | 74,865 | $1.61M |
| Intel Corp | 0.2% | Unchanged | 11,393 | $1.59M |
| AI American Intl Group Inc | 0.2% | Unchanged | 20,180 | $1.5M |
| BA Bank America Corp | 0.2% | Unchanged | 24,690 | $1.41M |
| VI Vanguard Index Fds | 0.2% | Unchanged | 1,930 | $1.33M |
| Brightspire Capital Inc | 0.1% | Unchanged | 221,900 | $1.21M |
| Exxon Mobil Corp | 0.1% | Unchanged | 8,345 | $1.14M |
| LA Lamar Advertising Co New | 0.1% | Unchanged | 6,780 | $1.06M |
| BS Black Stone Minerals LP | 0.1% | Unchanged | 73,900 | $1.03M |
| Dollar Tree Inc | 0.1% | Added 180% | 8,020 | $970K |
| Brookfield Corp | 0.1% | Unchanged | 22,500 | $958K |
| Privia Health Group Inc | 0.1% | Unchanged | 36,745 | $945K |
| BI Brookfield Infrast Partners | 0.1% | Unchanged | 23,071 | $842K |
| SG SPDR Gold Trust | 0.1% | Unchanged | 2,114 | $779K |
| Gladstone Commercial Corp | 0.1% | Trimmed 5.8% | 62,878 | $773K |
| NB Newtek Business Svcs Corp | 0.1% | Unchanged | 40,800 | $604K |
| Arista Networks Inc | 0.1% | Added 2.6% | 3,456 | $587K |
| Carmax Inc | 0.1% | Trimmed 0.0% | 11,020 | $583K |
| VI Vanguard Intl Equity Index F | 0.1% | New | 3,513 | $551K |
| VN Virginia Natl Bankshares Corp | 0.1% | Unchanged | 10,800 | $479K |
| CW Costco Whsl Corp New | 0.1% | Unchanged | 500 | $468K |
| DP Dominos Pizza Inc | 0.1% | New | 1,561 | $462K |
| Optimizerx Corp | 0.1% | Trimmed 4.4% | 73,860 | $422K |
| IT Ishares Tr | 0.0% | New | 4,084 | $404K |
| Walmart Inc | 0.0% | Unchanged | 3,501 | $397K |
| L3harris Technologies Inc | 0.0% | Unchanged | 1,357 | $394K |
| Enovix Corporation | 0.0% | Unchanged | 62,828 | $381K |
| TR Targa Res Corp | 0.0% | Trimmed 11% | 1,421 | $381K |
Showing top 60 of 79 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Apple Inc | Trimmed | −13,713 | −$3.97M | 7.6% |
| WH Waystar Hldg Corp | Added | +171,457 | +$3.52M | 2.9% |
| Amazon Com Inc | Trimmed | −14,701 | −$3.5M | 10.5% |
| Markel Group Inc | Trimmed | −1,618 | −$3.16M | 10.5% |
| Adobe Inc | Added | +8,943 | +$1.83M | 3.4% |
| OA Oreilly Automotive Inc | Trimmed | −18,547 | −$1.71M | 8.2% |
| Microsoft Corp | Trimmed | −4,508 | −$1.68M | 10.9% |
| AT American Tower Corp New | Trimmed | −8,236 | −$1.35M | 8.1% |
| Energy Recovery Inc | Trimmed | −123,869 | −$1.12M | 0.8% |
| BH Berkshire Hathaway Inc Del | Trimmed | −1,826 | −$914K | 6.5% |
Showing the 10 largest of 51 changes.
quarter ended March 31, 2026 · filed May 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Lockheed Martin Corp | Trimmed | −32,384 | −$19.6M | 2.4% |
| WH Waystar Hldg Corp | Added | +226,793 | +$5.47M | 2.9% |
| Atomera Inc | Added | +847,030 | +$3.23M | 0.7% |
| Adobe Inc | Added | +12,314 | +$2.99M | 3.8% |
| Molina Healthcare Inc | New | +14,762 | +$1.97M | 0.2% |
| Energy Recovery Inc | Trimmed | −151,825 | −$1.53M | 1.0% |
| Aes Corp | Exited | −95,722 | −$1.37M | — |
| Digitalbridge Group Inc | Exited | −73,139 | −$1.12M | — |
| Carmax Inc | Trimmed | −26,680 | −$1.11M | 0.1% |
| Markel Group Inc | Trimmed | −540 | −$1.03M | 10.7% |
Showing the 10 largest of 36 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Carmax Inc | Trimmed | −181,138 | −$7M | 0.2% |
| Microsoft Corp | Trimmed | −6,993 | −$3.38M | 12.9% |
| Lockheed Martin Corp | Trimmed | −5,517 | −$2.67M | 3.4% |
| Adobe Inc | Added | +6,799 | +$2.38M | 4.3% |
| Universal Display Corp | Added | +14,136 | +$1.65M | 2.9% |
| Amazon Com Inc | Trimmed | −5,459 | −$1.26M | 9.5% |
| Apple Inc | Trimmed | −3,234 | −$879K | 6.8% |
| WH Waystar Hldg Corp | Added | +24,910 | +$816K | 2.7% |
| Markel Group Inc | Trimmed | −370 | −$795K | 10.8% |
| Energy Recovery Inc | Trimmed | −56,236 | −$759K | 1.4% |
Showing the 10 largest of 35 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Adobe Inc | Added | +31,925 | +$11.3M | 4.0% |
| Microsoft Corp | Trimmed | −13,169 | −$6.82M | 13.6% |
| Markel Group Inc | Trimmed | −2,047 | −$3.91M | 9.3% |
| Amazon Com Inc | Trimmed | −15,989 | −$3.51M | 8.8% |
| OA Oreilly Automotive Inc | Trimmed | −29,904 | −$3.22M | 8.6% |
| AT American Tower Corp New | Trimmed | −13,519 | −$2.6M | 8.4% |
| WH Waystar Hldg Corp | Added | +63,514 | +$2.41M | 2.8% |
| Apple Inc | Trimmed | −8,141 | −$2.07M | 6.2% |
| Copart Inc | Trimmed | −40,420 | −$1.82M | 5.2% |
| Lockheed Martin Corp | Trimmed | −3,602 | −$1.8M | 3.6% |
Showing the 10 largest of 41 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| OA Oreilly Automotive Inc | Added | +735,097 | +$66.3M | 7.4% |
| Adobe Inc | New | +75,600 | +$29.2M | 3.0% |
| Lululemon Athletica Inc | Trimmed | −119,876 | −$28.5M | 0.1% |
| Aes Corp | Trimmed | −544,010 | −$5.72M | 0.2% |
| Universal Display Corp | Added | +28,277 | +$4.37M | 3.5% |
| Microsoft Corp | Trimmed | −4,763 | −$2.37M | 13.6% |
| WH Waystar Hldg Corp | Added | +43,424 | +$1.77M | 2.8% |
| Markel Group Inc | Trimmed | −851 | −$1.7M | 10.0% |
| Apple Inc | Trimmed | −7,466 | −$1.53M | 5.1% |
| Copart Inc | Added | +26,942 | +$1.32M | 5.8% |
Showing the 10 largest of 38 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CI Ccc Intelligent Solutions Hl | Trimmed | −1,664,727 | −$15M | 0.1% |
| Amentum Holdings Inc | Added | +710,692 | +$12.9M | 1.7% |
| Markel Group Inc | Trimmed | −4,928 | −$9.21M | 9.7% |
| OA Oreilly Automotive Inc | Trimmed | −2,061 | −$2.95M | 8.9% |
| Cytosorbents Corp | Added | +1,950,972 | +$1.95M | 0.5% |
| Microsoft Corp | Trimmed | −3,258 | −$1.22M | 10.6% |
| Energy Recovery Inc | Trimmed | −64,719 | −$1.03M | 1.8% |
| Copart Inc | Trimmed | −17,125 | −$969K | 6.7% |
| WH Waystar Hldg Corp | Added | +24,375 | +$911K | 2.4% |
| Apple Inc | Trimmed | −3,898 | −$866K | 5.8% |
Showing the 10 largest of 35 changes.
quarter ended December 31, 2024 · filed February 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| WH Waystar Hldg Corp | Added | +396,911 | +$14.6M | 2.2% |
| Markel Group Inc | Trimmed | −4,363 | −$7.53M | 9.6% |
| Microsoft Corp | Trimmed | −16,830 | −$7.09M | 11.8% |
| Copart Inc | Trimmed | −86,558 | −$4.97M | 6.7% |
| Amentum Holdings Inc | New | +193,470 | +$4.07M | 0.4% |
| OA Oreilly Automotive Inc | Trimmed | −3,325 | −$3.94M | 7.4% |
| AT American Tower Corp New | Trimmed | −20,586 | −$3.78M | 8.2% |
| Amazon Com Inc | Trimmed | −14,179 | −$3.11M | 9.1% |
| Apple Inc | Trimmed | −11,555 | −$2.89M | 6.5% |
| SC Sba Communications Corp New | Added | +11,014 | +$2.24M | 1.4% |
Showing the 10 largest of 35 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Digitalbridge Group Inc | Trimmed | −1,159,500 | −$16.4M | 0.2% |
| Markel Group Inc | Trimmed | −10,332 | −$16.2M | 9.3% |
| Microsoft Corp | Trimmed | −33,942 | −$14.6M | 12.6% |
| Lululemon Athletica Inc | Added | +42,891 | +$11.6M | 3.2% |
| AT American Tower Corp New | Trimmed | −43,465 | −$10.1M | 10.8% |
| OA Oreilly Automotive Inc | Trimmed | −6,425 | −$7.4M | 7.5% |
| Amazon Com Inc | Trimmed | −37,130 | −$6.92M | 7.9% |
| BH Berkshire Hathaway Inc Del | Trimmed | −14,562 | −$6.7M | 5.5% |
| Copart Inc | Trimmed | −126,596 | −$6.63M | 6.5% |
| WH Waystar Hldg Corp | New | +193,333 | +$5.39M | 0.5% |
Showing the 10 largest of 43 changes.
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