Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (26 quarters reported)
$132M in Q4 2019 → $101M now. Hover for any quarter.
As reported for the quarter ended March 31, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Carvana Co | 27.7% | Trimmed 3.8% | 89,263 | $28.1M |
| AD Arcos Dorados Hldgs Inc | 27.1% | Trimmed 3.8% | 3,334,760 | $27.5M |
| KK Kaspi Kz Jsc | 27.1% | Trimmed 14% | 371,235 | $27.5M |
| Hni Corp | 8.7% | New | 262,900 | $8.78M |
| Acadian Asset Management Inc | 5.4% | Trimmed 7.1% | 100,200 | $5.45M |
| PA Proficient Auto Logistics In | 1.9% | Trimmed 20% | 288,700 | $1.96M |
| Hilton Grand Vacations Inc | 1.8% | Trimmed 85% | 45,780 | $1.79M |
| Sleep Number Corp | 0.3% | Trimmed 25% | 179,400 | $322K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Hilton Grand Vacations Inc | Trimmed | −257,420 | −$10.1M | 1.8% |
| Smithfield Foods Inc | Exited | −450,800 | −$10.1M | — |
| Hni Corp | New | +262,900 | +$8.78M | 8.7% |
| MR Melco Resorts And Entmnt Ltd | Exited | −1,070,400 | −$8.1M | — |
| KK Kaspi Kz Jsc | Trimmed | −60,765 | −$4.5M | 27.1% |
| Carvana Co | Trimmed | −3,537 | −$1.11M | 27.7% |
| AD Arcos Dorados Hldgs Inc | Trimmed | −132,040 | −$1.09M | 27.1% |
| PA Proficient Auto Logistics In | Trimmed | −70,000 | −$475K | 1.9% |
| Acadian Asset Management Inc | Trimmed | −7,700 | −$419K | 5.4% |
| Sleep Number Corp | Trimmed | −60,100 | −$108K | 0.3% |
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| DM D Market Electr Svcs & Tradi | Exited | −6,305,000 | −$17M | — |
| Arcos Dorados Holdings Inc | Added | +1,232,800 | +$9.05M | 18.1% |
| Carvana Co | Trimmed | −20,400 | −$8.61M | 27.8% |
| Sleep Number Corp | Trimmed | −872,200 | −$7.38M | 1.4% |
| Hilton Grand Vacations Inc | Trimmed | −79,500 | −$3.56M | 9.6% |
| Acadian Asset Management Inc | Trimmed | −42,200 | −$1.98M | 3.6% |
| MR Melco Resorts And Entmnt Ltd | Trimmed | −164,900 | −$1.25M | 5.8% |
| PA Proficient Auto Logistics In | Added | +68,623 | +$662K | 2.5% |
| Smithfield Foods Inc | Trimmed | −11,400 | −$255K | 7.2% |
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Carvana Co | Trimmed | −44,800 | −$16.9M | 25.8% |
| Valaris Ltd | Exited | −151,500 | −$6.38M | — |
| MR Melco Resorts And Entmnt Ltd | Trimmed | −363,600 | −$3.33M | 6.9% |
| Acadian Asset Management Inc | Trimmed | −49,900 | −$2.4M | 4.4% |
| Arcos Dorados Holdings Inc | Added | +336,400 | +$2.27M | 9.1% |
| PA Proficient Auto Logistics In | New | +290,077 | +$2M | 1.2% |
| DM D Market Electr Svcs & Tradi | Added | +930 | +$2.5K | 10.3% |
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Carvana Co | Trimmed | −69,300 | −$23.4M | 29.4% |
| Arcos Dorados Holdings Inc | New | +1,897,600 | +$15M | 8.3% |
| KK Kaspi Kz Jsc | Added | +111,100 | +$9.43M | 20.2% |
| MR Melco Resorts And Entmnt Ltd | Trimmed | −1,274,200 | −$9.21M | 6.4% |
| Acadian Asset Management Inc | New | +200,000 | +$7.05M | 3.9% |
| Aersale Corporation | Exited | −215,779 | −$1.62M | — |
| DM D Market Electr Svcs & Tradi | Added | +281,230 | +$759K | 9.4% |
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Melco Resorts & Entertainment | New | +2,873,100 | +$15.1M | 10.2% |
| PA Pan Amern Silver Corp | Exited | −693,100 | −$14M | — |
| Smithfield Foods Inc | New | +462,200 | +$9.42M | 6.4% |
| Carvana Co | Added | +40,900 | +$8.55M | 32.1% |
| DM D Market Electr Svcs & Tradi | Added | +1,226,444 | +$3.5M | 11.6% |
| Aersale Corporation | Trimmed | −441,337 | −$3.31M | 1.1% |
| Sleep Number Corp | Added | +129,212 | +$819K | 4.8% |
| Valaris Ltd | Added | +16,244 | +$638K | 4.0% |
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| MR Melco Resorts And Entmnt Ltd | Exited | −2,975,200 | −$23.2M | — |
| Carvana Co | Trimmed | −87,000 | −$17.7M | 27.7% |
| DM D Market Electr Svcs & Tradi | New | +4,796,396 | +$14.5M | 10.6% |
| AG Alibaba Group Hldg Ltd | Exited | −114,600 | −$12.2M | — |
| Despegar Com Corp | Exited | −808,405 | −$10M | — |
| FW Fidelity Wise Origin Bitcoin | Exited | −167,000 | −$9.27M | — |
| PA Pan Amern Silver Corp | Trimmed | −287,900 | −$5.82M | 10.2% |
| Valaris Ltd | Trimmed | −80,244 | −$3.55M | 4.4% |
| Cardlytics Inc | Exited | −1,066,000 | −$3.41M | — |
| GM General Mtrs Co | Exited | −50,125 | −$2.25M | — |
Showing the 10 largest of 11 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AG Alibaba Group Hldg Ltd | New | +114,600 | +$12.2M | 5.9% |
| Despegar Com Corp | New | +808,405 | +$10M | 4.8% |
| FI Fiverr Intl Ltd | Exited | −272,100 | −$6.38M | — |
| GM General Mtrs Co | Trimmed | −138,775 | −$6.22M | 1.1% |
| KK Kaspi Kz Jsc | Added | +57,258 | +$6.07M | 16.4% |
| FW Fidelity Wise Origin Bitcoin | Added | +19,900 | +$1.11M | 4.5% |
quarter ended June 30, 2024 · filed August 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Carvana Co | Trimmed | −141,100 | −$18.2M | 18.8% |
| Sleep Number Corp | Added | +843,851 | +$8.08M | 4.5% |
| Cardlytics Inc | Added | +604,500 | +$4.96M | 4.7% |
| FI Fiverr Intl Ltd | Trimmed | −189,900 | −$4.45M | 3.4% |
| FW Fidelity Wise Origin Bitcoin | Added | +59,300 | +$3.11M | 4.1% |
| PA Pan Amern Silver Corp | Trimmed | −26,500 | −$527K | 10.4% |
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