Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$2.8B in Q2 2013 → $534M 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 |
|---|---|---|---|---|
| IT Ishares Tr Put | 48.5% | Added 46% | 3,000,000 | $259M |
| IT Ishares Tr Put | 16.9% | New | 300,000 | $90.1M |
| LH Lantheus Hldgs Inc | 11.7% | Trimmed 11% | 43,417,000 | $62.5M |
| LH Lantheus Hldgs Inc | 6.8% | Trimmed 9.6% | 328,745 | $36.5M |
| IT Ishares Tr Put | 6.0% | Trimmed 83% | 400,000 | $32M |
| Expand Energy Corporation | 1.8% | Added 37% | 105,871 | $9.65M |
| Vistra Corp | 1.5% | New | 51,200 | $8.12M |
| FO Finance Of America Compan | 1.4% | Added 79% | 280,476 | $7.72M |
| Lumexa Imaging Holdings Inc | 1.4% | New | 665,900 | $7.51M |
| UA United Airls Hldgs Inc | 1.4% | New | 53,850 | $7.32M |
| Embecta Corp | 0.9% | New | 1,516,453 | $4.94M |
| Lumen Technologies Inc | 0.8% | Trimmed 70% | 550,000 | $4.22M |
| LM Liberty Media Corp Del | 0.7% | Trimmed 4.5% | 73,105,000 | $3.93M |
| LM Liberty Media Corp Del | 0.1% | Unchanged | 7,700,000 | $385K |
| Century Casinos Inc | 0.0% | Unchanged | 117,549 | $150K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Trimmed | −2,000,000 | −$160M | 6.0% |
| IT Ishares Tr | Exited | −1,000,000 | −$109M | — |
| IT Ishares Tr | Exited | −1,200,000 | −$95.5M | — |
| IT Ishares Tr | New | +300,000 | +$90.1M | 16.9% |
| IT Ishares Tr | Added | +950,000 | +$82.1M | 48.5% |
| IT Ishares Tr | Exited | −305,000 | −$75.6M | — |
| Ecovyst Inc | Exited | −817,255 | −$10.5M | — |
| Lumen Technologies Inc | Trimmed | −1,300,000 | −$9.98M | 0.8% |
| SS State Str SPDR S&P 500 ETF T | Exited | −15,000 | −$9.75M | — |
| Nomad Foods Ltd | Exited | −875,000 | −$8.41M | — |
Showing the 10 largest of 21 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | New | +2,400,000 | +$191M | 23.7% |
| IT Ishares Tr | New | +2,050,000 | +$178M | 22.1% |
| IT Ishares Tr | New | +1,000,000 | +$109M | 13.5% |
| IT Ishares Tr | New | +1,200,000 | +$95.5M | 11.8% |
| SG SPDR Gold Tr | Exited | −200,000 | −$79.3M | — |
| IT Ishares Tr | New | +305,000 | +$75.6M | 9.4% |
| Nabors Industries Ltd | Exited | −675,879 | −$36.7M | — |
| SS SPDR S&P 500 ETF Tr | Exited | −45,200 | −$30.8M | — |
| Oracle Corp | Exited | −140,000 | −$27.3M | — |
| JI Jazz Investments I Ltd | Exited | −18,965,000 | −$25.3M | — |
Showing the 10 largest of 24 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Exited | −2,000,000 | −$223M | — |
| IT Ishares Tr | Exited | −1,725,000 | −$154M | — |
| SG SPDR Gold Tr | Trimmed | −250,000 | −$99.1M | 23.9% |
| IT Ishares Tr | Trimmed | −331,000 | −$81.5M | 5.1% |
| SS SPDR S&P 500 ETF Tr | New | +45,200 | +$30.8M | 9.3% |
| Oracle Corp | New | +140,000 | +$27.3M | 8.2% |
| JI Jazz Investments I Ltd | Trimmed | −16,000,000 | −$21.3M | 7.6% |
| LH Lantheus Hldgs Inc | Added | +18,201,000 | +$20.8M | 12.9% |
| LH Lantheus Hldgs Inc | Trimmed | −188,738 | −$12.6M | 2.6% |
| Nomad Foods Ltd | New | +875,000 | +$10.9M | 3.3% |
Showing the 10 largest of 22 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SG SPDR Gold Tr | New | +450,000 | +$160M | 19.6% |
| IT Ishares Tr | New | +1,725,000 | +$154M | 18.9% |
| IT Ishares Tr | Exited | −600,000 | −$129M | — |
| IT Ishares Tr | New | +400,000 | +$96.8M | 11.9% |
| JI Jazz Investments I Ltd | New | +34,965,000 | +$41.6M | 5.1% |
| LH Lantheus Hldgs Inc | New | +19,010,000 | +$19.9M | 2.4% |
| LH Lantheus Hldgs Inc | Added | +173,200 | +$8.88M | 2.0% |
| NC Norwegian Cruise Line Hldg L | New | +347,600 | +$8.56M | 1.1% |
| Nabors Industries Ltd | Trimmed | −137,666 | −$5.62M | 3.7% |
| JI Jazz Investments I Ltd | New | +5,000,000 | +$5.3M | 0.7% |
Showing the 10 largest of 12 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Exited | −1,175,000 | −$234M | — |
| IT Ishares Tr | Exited | −2,500,000 | −$197M | — |
| IT Ishares Tr | Added | +150,000 | +$32.4M | 29.7% |
| IT Ishares Tr | Added | +200,000 | +$21.9M | 50.3% |
| Lumen Technologies Inc | New | +2,900,000 | +$12.7M | 2.9% |
| LH Lantheus Hldgs Inc | New | +143,145 | +$11.7M | 2.7% |
| Forward Air Corp | New | +220,850 | +$5.42M | 1.2% |
| Forward Air Corp | Exited | −166,000 | −$3.33M | — |
| DH Diversified Healthcare Tr | Added | +681,643 | +$2.44M | 0.9% |
| Ecovyst Inc | Added | +150,000 | +$1.23M | 1.5% |
Showing the 10 largest of 12 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | New | +1,175,000 | +$234M | 29.4% |
| IT Ishares Tr | New | +2,500,000 | +$197M | 24.7% |
| IT Ishares Tr | New | +450,000 | +$89.8M | 11.3% |
| IT Ishares Tr | Exited | −750,000 | −$65.5M | — |
| SG SPDR Gold Tr | Exited | −220,000 | −$53.3M | — |
| Nabors Industries Ltd | New | +904,035 | +$37.7M | 4.7% |
| IT Ishares Tr | Added | +300,000 | +$32.6M | 24.5% |
| MR Melco Resorts And Entmnt Ltd | Exited | −1,001,215 | −$5.8M | — |
| SP Service Pptys Tr | New | +910,000 | +$2.38M | 0.3% |
| Ecovyst Inc | Added | +148,755 | +$922K | 0.5% |
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Exited | −300,000 | −$172M | — |
| IT Ishares Tr | New | +1,500,000 | +$160M | 48.4% |
| IT Ishares Tr | Exited | −500,000 | −$110M | — |
| IT Ishares Tr | New | +750,000 | +$65.5M | 19.8% |
| IT Ishares Tr | Exited | −512,500 | −$57.9M | — |
| SG SPDR Gold Tr | New | +220,000 | +$53.3M | 16.1% |
| GR Greenfire Res Ltd New | Exited | −5,092,694 | −$37.9M | — |
| Ecovyst Inc | Trimmed | −908,500 | −$6.95M | 1.2% |
| Penn Entertainment Inc | Exited | −288,005 | −$5.43M | — |
| Forward Air Corp | New | +166,000 | +$5.35M | 1.6% |
Showing the 10 largest of 21 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | New | +512,500 | +$57.9M | 12.6% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −100,000 | −$57.4M | 37.5% |
| CE Chesapeake Energy Corp | New | +77,120 | +$6.34M | 1.4% |
| LM Liberty Media Corp Del | Trimmed | −14,000,000 | −$4.83M | 6.8% |
| M Macys Inc | New | +256,000 | +$4.02M | 0.9% |
| AM Ag Mtg Invt Tr Inc | Exited | −4,000,000 | −$3.96M | — |
| Penn Entertainment Inc | Trimmed | −161,995 | −$3.05M | 1.2% |
| Ecovyst Inc | Added | +385,000 | +$2.64M | 2.1% |
| Liberty Latin America Ltd | Exited | −2,360,000 | −$2.35M | — |
| Lumen Technologies Inc | Exited | −2,000,000 | −$2.2M | — |
Showing the 10 largest of 15 changes.
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