Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (21 quarters reported)
$224M in Q2 2021 → $795M 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 |
|---|---|---|---|---|
| Talen Energy Corp | 7.6% | Trimmed 25% | 157,500 | $60.5M |
| Amazon Com Inc | 7.1% | New | 237,700 | $56.7M |
| Carpenter Technology Corp | 7.0% | Trimmed 32% | 90,220 | $55.7M |
| DI Dycom Inds Inc | 6.8% | Added 1.0% | 106,260 | $53.7M |
| TS Taiwan Semiconductor Manufac | 6.4% | Trimmed 48% | 106,940 | $51.1M |
| Hudbay Minerals Inc | 6.3% | New | 2,132,700 | $50.4M |
| AH Asml Hldg Nv | 6.3% | New | 25,000 | $49.7M |
| EN Entergy Corp New | 6.2% | New | 426,400 | $49M |
| SR Skeena Res Ltd New | 5.4% | Added 23% | 1,620,600 | $43.2M |
| Cheniere Energy Inc | 4.9% | Added 177% | 163,060 | $39M |
| Mastercard Incorporated | 4.8% | New | 75,000 | $38.5M |
| VI Valmont Inds Inc | 4.7% | New | 65,300 | $37.7M |
| MM Martin Marietta Matls Inc | 4.7% | New | 65,200 | $37.6M |
| CD Cadence Design System Inc | 4.7% | New | 100,000 | $37.5M |
| Eqt Corp | 4.7% | New | 700,000 | $37.2M |
| Core & Main Inc | 4.6% | New | 759,000 | $36.6M |
| GA Ge Aerospace | 3.8% | Added 1150% | 80,000 | $29.9M |
| Freeport Mcmoran Inc | 3.2% | Unchanged | 400,000 | $25.2M |
| QS Quanta Svcs Inc | 0.4% | Trimmed 93% | 4,300 | $3.1M |
| Sinda Ltd | 0.3% | New | 200,000 | $2.4M |
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 |
|---|---|---|---|---|
| Steel Dynamics Inc | Exited | −350,000 | −$63M | — |
| Centuri Holdings Inc | Exited | −2,109,000 | −$61.6M | — |
| Amazon Com Inc | New | +237,700 | +$56.7M | 7.1% |
| Hudbay Minerals Inc | New | +2,132,700 | +$50.4M | 6.3% |
| AH Asml Hldg Nv | New | +25,000 | +$49.7M | 6.3% |
| EN Entergy Corp New | New | +426,400 | +$49M | 6.2% |
| TS Taiwan Semiconductor Manufac | Trimmed | −99,660 | −$47.6M | 6.4% |
| Antero Resources Corp | Exited | −1,040,000 | −$44.1M | — |
| QS Quanta Svcs Inc | Trimmed | −55,700 | −$40.1M | 0.4% |
| Mastercard Incorporated | New | +75,000 | +$38.5M | 4.8% |
Showing the 10 largest of 27 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Cheniere Energy Inc | Trimmed | −300,000 | −$85.1M | 2.8% |
| Amazon Com Inc | Exited | −300,000 | −$69.2M | — |
| Corning Inc | Exited | −730,000 | −$63.9M | — |
| Steel Dynamics Inc | New | +350,000 | +$63M | 10.6% |
| Centuri Holdings Inc | New | +2,109,000 | +$61.6M | 10.4% |
| Viper Energy Inc | Exited | −1,500,000 | −$57.9M | — |
| Gfl Environmental Inc | Exited | −1,342,400 | −$57.7M | — |
| GA Ge Aerospace | Trimmed | −200,000 | −$56.8M | 0.3% |
| QS Quanta Svcs Inc | Trimmed | −95,500 | −$52.4M | 5.5% |
| Nucor Corp | Exited | −300,000 | −$48.9M | — |
Showing the 10 largest of 32 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Ecolab Inc | Exited | −250,000 | −$68.5M | — |
| GA Ge Aerospace | New | +206,400 | +$63.6M | 6.2% |
| Core & Main Inc | Exited | −1,000,000 | −$53.8M | — |
| Nucor Corp | New | +300,000 | +$48.9M | 4.8% |
| Cheniere Energy Inc | Added | +250,000 | +$48.6M | 6.8% |
| CN Canadian Natl Ry Co | Exited | −500,000 | −$47.2M | — |
| Amazon Com Inc | Added | +200,000 | +$46.2M | 6.8% |
| DI Dycom Inds Inc | Exited | −150,000 | −$43.8M | — |
| Eaton Corp PLC | Exited | −100,000 | −$37.4M | — |
| Ball Corp | New | +700,000 | +$37.1M | 3.6% |
Showing the 10 largest of 50 changes.
quarter ended September 30, 2025 · filed November 07, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Ecolab Inc | New | +250,000 | +$68.5M | 6.4% |
| Corning Inc | New | +830,000 | +$68.1M | 6.3% |
| Core & Main Inc | New | +1,000,000 | +$53.8M | 5.0% |
| CN Canadian Natl Ry Co | New | +500,000 | +$47.2M | 4.4% |
| DI Dycom Inds Inc | New | +150,000 | +$43.8M | 4.1% |
| Baker Hughes Company | Exited | −1,027,100 | −$39.4M | — |
| Viper Energy Inc | New | +1,000,000 | +$38.2M | 3.5% |
| TT Tetra Tech Inc New | Exited | −1,028,100 | −$37M | — |
| Linde PLC | Exited | −77,200 | −$36.2M | — |
| Mirion Technologies Inc | Trimmed | −1,551,700 | −$36.1M | 1.1% |
Showing the 10 largest of 54 changes.
quarter ended June 30, 2025 · filed August 07, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Carpenter Technology Corp | New | +150,000 | +$41.5M | 4.2% |
| Baker Hughes Company | New | +1,027,100 | +$39.4M | 3.9% |
| TT Tetra Tech Inc New | New | +1,028,100 | +$37M | 3.7% |
| Freeport-mcmoran Inc | New | +824,500 | +$35.7M | 3.6% |
| Eaton Corp PLC | Added | +99,900 | +$35.7M | 3.7% |
| Eqt Corp | Added | +599,800 | +$35M | 3.6% |
| Sherwin Williams Co | New | +100,000 | +$34.3M | 3.4% |
| Linde PLC | Added | +73,100 | +$34.3M | 3.6% |
| Iamgold Corp | New | +4,638,000 | +$34.1M | 3.4% |
| EN Entergy Corp New | Added | +401,100 | +$33.3M | 3.4% |
Showing the 10 largest of 47 changes.
quarter ended March 31, 2025 · filed May 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Steel Dynamics Inc | Exited | −350,000 | −$39.9M | — |
| Waste Connections Inc | Exited | −211,700 | −$36.3M | — |
| MP Marathon Pete Corp | Exited | −250,000 | −$34.9M | — |
| Ge Vernova Inc | Trimmed | −103,200 | −$31.5M | 0.3% |
| Cheniere Energy Inc | New | +129,300 | +$29.9M | 7.7% |
| MM Martin Marietta Matls Inc | Trimmed | −58,000 | −$27.7M | 0.2% |
| FN Franco Nev Corp | Exited | −230,000 | −$27M | — |
| GA Ge Aerospace | Trimmed | −132,400 | −$26.5M | 4.1% |
| Gfl Environmental Inc | New | +539,700 | +$26.1M | 6.7% |
| Eqt Corp | Trimmed | −481,500 | −$25.7M | 0.3% |
Showing the 10 largest of 46 changes.
quarter ended December 31, 2024 · filed February 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mirion Technologies Inc | New | +2,117,000 | +$36.9M | 5.0% |
| MP Marathon Pete Corp | New | +250,000 | +$34.9M | 4.7% |
| MM Martin Marietta Matls Inc | New | +60,000 | +$31M | 4.2% |
| Microsoft Corp | Trimmed | −70,000 | −$29.5M | 1.7% |
| FN Franco Nev Corp | New | +230,000 | +$27M | 3.6% |
| South Bow Corp | New | +1,087,000 | +$25.6M | 3.4% |
| Eqt Corp | New | +500,000 | +$23.1M | 3.1% |
| GA Ge Aerospace | Added | +127,400 | +$21.2M | 4.8% |
| Baker Hughes Company | New | +500,000 | +$20.5M | 2.8% |
| Waste Connections Inc | Added | +111,700 | +$19.2M | 4.9% |
Showing the 10 largest of 51 changes.
quarter ended September 30, 2024 · filed November 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Talen Energy Corp | New | +261,500 | +$46.6M | 8.2% |
| Veren Inc | Exited | −5,000,000 | −$39.4M | — |
| Amazon Com Inc | Trimmed | −190,000 | −$35.4M | 2.0% |
| CE Cenovus Energy Inc | Trimmed | −1,780,900 | −$29.8M | 2.2% |
| Steel Dynamics Inc | New | +200,000 | +$25.2M | 4.5% |
| Eaton Corp PLC | Added | +64,590 | +$21.4M | 6.2% |
| CD Cadence Design System Inc | Exited | −60,000 | −$18.5M | — |
| Mastercard Incorporated | Exited | −40,000 | −$17.6M | — |
| Watsco Inc | New | +35,000 | +$17.2M | 3.0% |
| Apple Inc | Exited | −80,000 | −$16.8M | — |
Showing the 10 largest of 62 changes.
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