Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (49 quarters reported)
$931M in Q1 2013 → $679M now. Hover for any quarter.
As reported for the quarter ended March 31, 2025. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| EP Enterprise Prod Partners | 10.2% | Trimmed 2.6% | 2,021,932 | $69M |
| ET Energy Transfer LP | 7.3% | Trimmed 3.1% | 2,666,295 | $49.6M |
| Mplx LP | 6.7% | Trimmed 2.4% | 848,333 | $45.4M |
| VE Vistra Energy Corp | 4.9% | Trimmed 11% | 284,086 | $33.4M |
| Amazon.com Inc. | 4.5% | Trimmed 10.0% | 159,054 | $30.3M |
| Cheniere Energy Inc | 3.9% | Trimmed 2.6% | 115,895 | $26.8M |
| Nextera Energy, Inc. | 3.6% | Trimmed 11% | 349,117 | $24.7M |
| AC Alphabet, Inc. Cl A | 3.5% | Trimmed 8.2% | 153,784 | $23.8M |
| HR Healthcare Realty | 2.8% | Trimmed 11% | 1,109,343 | $18.7M |
| JM J.p. Morgan Chase | 2.6% | Trimmed 13% | 72,055 | $17.7M |
| Coca Cola Co. | 2.6% | Trimmed 12% | 245,049 | $17.6M |
| Meta Platforms, Inc. | 2.5% | Trimmed 1.2% | 29,072 | $16.8M |
| Microsoft | 2.4% | Trimmed 7.1% | 43,398 | $16.3M |
| Mastercard Inc. | 2.3% | Trimmed 2.4% | 28,905 | $15.8M |
| Bank Of America | 2.3% | Added 88% | 371,688 | $15.5M |
| Citigroup | 2.1% | Trimmed 16% | 198,261 | $14.1M |
| Visa | 2.0% | Trimmed 2.4% | 39,587 | $13.9M |
| Clearway Energy, Inc. | 1.8% | Trimmed 2.9% | 404,328 | $12.2M |
| AG Apollo Global Mgmt. | 1.8% | Trimmed 37% | 88,017 | $12.1M |
| AC Apple Computer | 1.7% | Trimmed 3.6% | 51,495 | $11.4M |
| CP Crh PLC ADR | 1.5% | Trimmed 31% | 116,802 | $10.3M |
| PG&E Corp. | 1.5% | Added 29% | 575,052 | $9.88M |
| Howard Hughes Holdings | 1.2% | Added 5.9% | 112,698 | $8.35M |
| Dte Energy | 1.2% | Trimmed 3.1% | 59,650 | $8.25M |
| BS Bae Systems PLC Sponsored ADR | 1.2% | Trimmed 3.6% | 98,678 | $8.11M |
| Centerpoint Energy, Inc. | 1.1% | Trimmed 15% | 215,466 | $7.81M |
| MI Mondelez Internat Inc. | 1.1% | Added 72% | 114,140 | $7.74M |
| SS SPDR S&P 500 ETF | 1.1% | Unchanged | 13,410 | $7.5M |
| Ppl Corporation | 1.1% | Added 13% | 206,976 | $7.47M |
| PB Pnc Bank Corp. | 0.9% | Trimmed 3.1% | 34,126 | $6M |
| Kkr & Co. Inc. | 0.8% | Trimmed 3.2% | 45,600 | $5.27M |
| Johnson & Johnson | 0.8% | Trimmed 5.1% | 30,794 | $5.11M |
| Blackstone Inc. | 0.6% | Trimmed 2.5% | 28,236 | $3.95M |
| Weyerhaeuser | 0.5% | Trimmed 5.5% | 119,550 | $3.5M |
| Williams Companies Inc | 0.5% | Unchanged | 56,781 | $3.39M |
| NS Nestle Spons ADR | 0.5% | Trimmed 6.5% | 32,790 | $3.32M |
| Merck | 0.5% | Trimmed 2.9% | 34,433 | $3.09M |
| Procter & Gamble | 0.4% | Trimmed 5.8% | 17,873 | $3.05M |
| N Novartis | 0.4% | Trimmed 4.4% | 26,347 | $2.94M |
| AC Alphabet, Inc. Cl C | 0.4% | Trimmed 1.6% | 18,280 | $2.86M |
| Thermo Fisher Scientific | 0.4% | Unchanged | 5,350 | $2.66M |
| ES Engie Sa ADR | 0.4% | Trimmed 1.2% | 127,950 | $2.5M |
| BI Brookfield Infrastructure Part | 0.4% | Trimmed 4.6% | 82,623 | $2.46M |
| RH Roche Holding Ag | 0.3% | Trimmed 6.3% | 53,910 | $2.22M |
| SA Siemens Ag ADR | 0.3% | Trimmed 4.7% | 19,121 | $2.21M |
| Ubs Group Ag | 0.3% | Unchanged | 71,775 | $2.2M |
| Plains Gp Holdings LP | 0.3% | Trimmed 0.8% | 101,142 | $2.16M |
| DT Deutsche Telekom Ag ADR | 0.3% | Trimmed 1.9% | 58,150 | $2.16M |
| EL Eli Lilly | 0.3% | Unchanged | 2,610 | $2.16M |
| Cisco Systems | 0.3% | Unchanged | 34,918 | $2.16M |
| Pepsico | 0.3% | Trimmed 1.8% | 14,025 | $2.1M |
| Kennedy-wilson Holdings Inc. | 0.3% | Trimmed 41% | 241,282 | $2.09M |
| National Grid | 0.3% | Trimmed 8.6% | 31,808 | $2.09M |
| Medtronic | 0.3% | Trimmed 6.8% | 21,232 | $1.91M |
| BH Berkshire Hathaway B | 0.3% | Trimmed 9.5% | 3,552 | $1.89M |
| Unilever PLC | 0.3% | Trimmed 8.1% | 31,752 | $1.89M |
| Union Pacific | 0.3% | Trimmed 12% | 7,821 | $1.85M |
| Newmont Corporation | 0.2% | New | 34,535 | $1.67M |
| BR Brandywine Realty | 0.2% | New | 370,263 | $1.65M |
| AI Anheuser-busch Inbev Sa/nv | 0.2% | Added 4.0% | 28,640 | $1.65M |
Showing top 60 of 117 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended March 31, 2025 · filed April 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Boston Scientific | Exited | −116,921 | −$10.4M | — |
| Bank Of America | Added | +173,935 | +$7.26M | 2.3% |
| NE Nextera Energy Partners | Exited | −403,173 | −$7.18M | — |
| AG Apollo Global Mgmt. | Trimmed | −51,381 | −$7.04M | 1.8% |
| CP Crh PLC ADR | Trimmed | −52,522 | −$4.62M | 1.5% |
| VE Vistra Energy Corp | Trimmed | −34,912 | −$4.1M | 4.9% |
| Amazon.com Inc. | Trimmed | −17,624 | −$3.35M | 4.5% |
| MI Mondelez Internat Inc. | Added | +47,723 | +$3.24M | 1.1% |
| Nextera Energy, Inc. | Trimmed | −41,471 | −$2.94M | 3.6% |
| Citigroup | Trimmed | −38,548 | −$2.74M | 2.1% |
Showing the 10 largest of 92 changes.
quarter ended December 31, 2024 · filed January 27, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Caterpillar | Trimmed | −22,486 | −$8.16M | 0.1% |
| Nextera Energy, Inc. | Trimmed | −113,268 | −$8.12M | 3.8% |
| Cheniere Energy Inc | Added | +35,242 | +$7.57M | 3.5% |
| HR Healthcare Realty | Trimmed | −356,515 | −$6.04M | 2.9% |
| AC Apple Computer | Trimmed | −22,515 | −$5.64M | 1.8% |
| VE Vistra Energy Corp | Trimmed | −38,070 | −$5.25M | 5.9% |
| AC Alphabet, Inc. Cl A | Trimmed | −25,568 | −$4.84M | 4.3% |
| Boston Scientific | Trimmed | −47,946 | −$4.28M | 1.4% |
| Amazon.com Inc. | Trimmed | −16,050 | −$3.52M | 5.2% |
| AG Apollo Global Mgmt. | Trimmed | −16,891 | −$2.79M | 3.1% |
Showing the 10 largest of 206 changes.
quarter ended September 30, 2024 · filed October 15, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NE Nextera Energy Partners | Trimmed | −748,067 | −$20.7M | 1.6% |
| SP Shell PLC ADR | Trimmed | −119,600 | −$7.88M | — |
| Cheniere Energy Inc | Added | +42,496 | +$7.64M | 1.9% |
| NS Nestle Spons ADR | Trimmed | −69,862 | −$7.03M | 0.6% |
| MI Mondelez Internat Inc. | Trimmed | −71,817 | −$5.29M | 0.7% |
| Emerson Electric Co. | Trimmed | −46,015 | −$5.03M | 0.1% |
| Caterpillar | Added | +7,271 | +$2.84M | 1.2% |
| Freeport Mcmoran Inc. | Exited | −58,230 | −$2.83M | — |
| Centerpoint Energy, Inc. | Trimmed | −92,474 | −$2.72M | 0.9% |
| Fedex | Trimmed | −7,440 | −$2.04M | 0.2% |
Showing the 10 largest of 127 changes.
quarter ended June 30, 2024 · filed July 08, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Citigroup | Added | +213,199 | +$13.5M | 1.9% |
| Mondelez International Inc. | Trimmed | −166,574 | −$10.9M | 1.2% |
| Unitedhealth Group | Trimmed | −18,758 | −$9.57M | — |
| NS Nestle Spons ADR | Trimmed | −73,466 | −$7.53M | 1.5% |
| Cheniere Energy Inc | New | +41,253 | +$7.21M | 0.9% |
| Idacorp | Exited | −69,314 | −$6.82M | — |
| Microsoft | Trimmed | −14,574 | −$6.51M | 3.0% |
| Clearway Energy, Inc. | Added | +257,345 | +$6.35M | 1.5% |
| AC Alphabet, Inc. Cl A | Added | +32,320 | +$5.89M | 4.4% |
| Meta Platforms, Inc. | Added | +10,962 | +$5.53M | 2.1% |
Showing the 10 largest of 213 changes.
quarter ended March 31, 2024 · filed April 15, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IR Ishares Russell 1000 Growth Et | Added | +150 | +$45.4K | 0.1% |
| SS SPDR S&P Midcap 400 Eft | Added | +60 | +$30.5K | — |
| AC Alphabet, Inc. Cl C | Added | +200 | +$28.2K | 0.4% |
| BI Brookfield Infrastructure Part | Added | +750 | +$23.6K | 0.6% |
| Howard Hughes Holdings | Added | +248 | +$21.2K | 1.6% |
| EP Enterprise Prod Partners | Added | +800 | +$21.1K | 7.5% |
| Weyerhaeuser | Added | +598 | +$20.8K | 0.9% |
| GS Goldman Sachs Just | Added | +300 | +$20.4K | — |
| BS Bae Systems PLC Sponsored ADR | Added | +300 | +$17.3K | 0.9% |
| NE Nextera Energy Partners | Added | +525 | +$16K | 4.7% |
Showing the 10 largest of 34 changes.
quarter ended December 31, 2023 · filed January 05, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Howard Hughes Holdings | Trimmed | −213,565 | −$18.3M | 1.6% |
| HR Healthcare Realty | Added | +1,010,841 | +$17.4M | 3.6% |
| O Oneok Inc. | Trimmed | −246,179 | −$17.3M | 0.1% |
| Nextera Energy, Inc. | Added | +253,137 | +$15.4M | 3.9% |
| Amazon.com Inc. | Added | +93,305 | +$14.2M | 3.7% |
| Microsoft | Added | +30,312 | +$11.4M | 3.2% |
| Boston Scientific | New | +170,282 | +$9.84M | 1.2% |
| Apollo Global Management | Trimmed | −102,822 | −$9.58M | 1.5% |
| Xcel Energy Inc. | Exited | −146,102 | −$8.36M | — |
| Unitedhealth Group | Added | +15,858 | +$8.35M | 1.2% |
Showing the 10 largest of 118 changes.
quarter ended September 30, 2023 · filed October 24, 2023
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| HH Howard Hughes Corp. | Exited | −393,539 | −$31.1M | — |
| MM Magellan Midstream Partners, L | Exited | −473,576 | −$29.5M | — |
| Howard Hughes Holdings | New | +366,804 | +$27.2M | 3.4% |
| O Oneok Inc. | New | +263,486 | +$16.7M | 2.1% |
| Apollo Global Management | Added | +153,714 | +$13.8M | 2.6% |
| CP Crh PLC ADR | New | +165,766 | +$8.83M | 1.1% |
| PH Pulte Homes Inc. | Exited | −110,671 | −$8.6M | — |
| S Schlumberger | Added | +114,629 | +$6.68M | 1.4% |
| AC Alphabet, Inc. Cl A | Added | +47,454 | +$6.21M | 2.5% |
| SP Shell PLC ADR | Added | +96,328 | +$6.2M | 1.6% |
Showing the 10 largest of 122 changes.
quarter ended June 30, 2023 · filed July 20, 2023
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AC Alphabet, Inc. Cl A | Added | +97,511 | +$11.7M | 1.5% |
| Microsoft | Added | +31,815 | +$10.8M | 1.5% |
| Amazon.com Inc. | Added | +78,900 | +$10.3M | 1.6% |
| HR Healthcare Realty | New | +455,026 | +$8.58M | 1.0% |
| PB Pnc Bank Corp. | Added | +60,842 | +$7.66M | 1.2% |
| PH Pulte Homes Inc. | Added | +96,449 | +$7.49M | 1.0% |
| Crown Holdings Inc . | Trimmed | −82,076 | −$7.13M | 0.3% |
| AC Annaly Capital Pr F | New | +251,172 | +$6.38M | 0.8% |
| PG&E Corp. | New | +367,314 | +$6.35M | 0.8% |
| Apollo Global Management | New | +79,138 | +$6.08M | 0.7% |
Showing the 10 largest of 115 changes.
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