Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (43 quarters reported)
$267M in Q4 2015 → $143M 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 |
|---|---|---|---|---|
| Bitdeer Technologies Group | 45.5% | Added 236% | 4,089,074 | $64.9M |
| Terawulf Inc | 20.2% | Added 133% | 1,164,000 | $28.8M |
| Keel Infrastructure Corp | 16.1% | New | 3,994,857 | $22.9M |
| Applied Digital Corp | 13.5% | Unchanged | 514,379 | $19.2M |
| Cleanspark Inc | 4.8% | Trimmed 65% | 468,455 | $6.82M |
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 |
|---|---|---|---|---|
| Bitdeer Technologies Group | Added | +2,873,326 | +$45.6M | 45.5% |
| EC Everus Constr Group | Exited | −197,700 | −$23.3M | — |
| Keel Infrastructure Corp | New | +3,994,857 | +$22.9M | 16.1% |
| UF Us Foods Hldg Corp | Exited | −232,200 | −$21.4M | — |
| Vertiv Holdings Co | Exited | −83,400 | −$20.9M | — |
| UA United Airls Hldgs Inc | Exited | −222,700 | −$20.5M | — |
| Terawulf Inc | Added | +664,000 | +$16.4M | 20.2% |
| Delta Air Lines Inc | Exited | −197,800 | −$13.1M | — |
| Cleanspark Inc | Trimmed | −871,343 | −$12.7M | 4.8% |
| Talen Energy Corp | Exited | −39,100 | −$12.5M | — |
Showing the 10 largest of 17 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CS Core Scientific Inc New | Trimmed | −2,227,800 | −$33.3M | 3.0% |
| Whitefiber Inc | Trimmed | −1,128,610 | −$13.4M | 1.2% |
| Bitdeer Technologies Group | New | +1,215,748 | +$10.5M | 5.6% |
| Riot Platforms Inc | Added | +476,782 | +$5.89M | 5.8% |
| Terawulf Inc | Added | +388,300 | +$5.6M | 3.8% |
| CM Cipher Mining Inc | Exited | −366,000 | −$5.4M | — |
| B Bitfarms Ltd | Exited | −1,050,300 | −$2.47M | — |
| Canaan Inc | Exited | −3,373,430 | −$2.33M | — |
| UA United Airls Hldgs Inc | Trimmed | −11,300 | −$1.04M | 10.9% |
| Delta Air Lines Inc | Trimmed | −9,900 | −$658K | 7.0% |
Showing the 10 largest of 13 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CS Core Scientific Inc New | New | +2,599,800 | +$37.9M | 17.0% |
| Whitefiber Inc | Added | +1,064,177 | +$16.8M | 9.3% |
| UA United Airls Hldgs Inc | Trimmed | −135,700 | −$15.2M | 11.7% |
| Cleanspark Inc | New | +1,333,600 | +$13.5M | 6.1% |
| DA Delta Air Lines Inc Del | Trimmed | −88,800 | −$6.16M | 6.5% |
| CM Cipher Mining Inc | New | +366,000 | +$5.4M | 2.4% |
| Riot Platforms Inc | New | +402,400 | +$5.1M | 2.3% |
| Vertiv Holdings Co | Trimmed | −18,400 | −$2.98M | 6.1% |
| B Bitfarms Ltd | New | +1,050,300 | +$2.47M | 1.1% |
| Talen Energy Corp | Trimmed | −6,400 | −$2.4M | 6.6% |
Showing the 10 largest of 19 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| UA United Airls Hldgs Inc | Added | +232,781 | +$22.5M | 21.4% |
| Zoominfo Technologies Inc | Exited | −977,932 | −$9.9M | — |
| Whitefiber Inc | New | +249,482 | +$6.78M | 4.1% |
| DA Delta Air Lines Inc Del | Added | +99,372 | +$5.64M | 10.1% |
| Alaska Air Group Inc | Exited | −108,945 | −$5.39M | — |
| Talen Energy Corp | Added | +11,600 | +$4.93M | 11.6% |
| Vertiv Holdings Co | Trimmed | −30,300 | −$4.57M | 9.2% |
| UF Us Foods Hldg Corp | Trimmed | −56,295 | −$4.31M | 11.6% |
| Vestis Corporation | Exited | −544,399 | −$3.12M | — |
| EC Everus Constr Group | Added | +14,936 | +$1.28M | 11.6% |
Showing the 10 largest of 14 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Applied Digital Corp | Trimmed | −3,607,000 | −$36.3M | 4.4% |
| Vertiv Holdings Co | New | +132,100 | +$17M | 13.1% |
| IF International FLAVORS&FRAGRA | Exited | −192,696 | −$15M | — |
| UA United Airls Hldgs Inc | New | +136,919 | +$10.9M | 8.4% |
| Constellation Energy Corp | New | +33,000 | +$10.7M | 8.2% |
| Vistra Corp | New | +54,100 | +$10.5M | 8.1% |
| Zoominfo Technologies Inc | New | +977,932 | +$9.9M | 7.6% |
| Talen Energy Corp | New | +33,900 | +$9.86M | 7.6% |
| DA Delta Air Lines Inc Del | New | +197,128 | +$9.69M | 7.5% |
| Performance Food Group Co | Exited | −122,500 | −$9.63M | — |
Showing the 10 largest of 14 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| UA United Airls Hldgs Inc | Exited | −203,000 | −$19.7M | — |
| MI Marriott Intl Inc New | Exited | −52,300 | −$14.6M | — |
| Hyatt Hotels Corp | Exited | −64,400 | −$10.1M | — |
| HW Hilton Worldwide Hldgs Inc | Exited | −40,800 | −$10.1M | — |
| Performance Food Group Co | New | +122,500 | +$9.63M | 12.6% |
| DA Delta Air Lines Inc Del | Exited | −131,400 | −$7.95M | — |
| EC Everus Constr Group | New | +191,900 | +$7.12M | 9.3% |
| IF International FLAVORS&FRAGRA | Trimmed | −74,704 | −$5.8M | 19.6% |
| Bitdeer Technologies Group | Exited | −267,500 | −$5.8M | — |
| NC Norwegian Cruise Line Hldg L | Exited | −189,800 | −$4.88M | — |
Showing the 10 largest of 20 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Applied Digital Corp | Trimmed | −7,056,085 | −$53.9M | 21.5% |
| UA United Airls Hldgs Inc | New | +203,000 | +$19.7M | 11.1% |
| MI Marriott Intl Inc New | New | +52,300 | +$14.6M | 8.2% |
| Hyatt Hotels Corp | New | +64,400 | +$10.1M | 5.7% |
| HW Hilton Worldwide Hldgs Inc | New | +40,800 | +$10.1M | 5.7% |
| L Leslies Inc | Exited | −2,829,917 | −$8.94M | — |
| DA Delta Air Lines Inc Del | New | +131,400 | +$7.95M | 4.5% |
| Bitdeer Technologies Group | New | +267,500 | +$5.8M | 3.3% |
| NC Norwegian Cruise Line Hldg L | New | +189,800 | +$4.88M | 2.7% |
| Carnival Corp | New | +161,600 | +$4.03M | 2.3% |
Showing the 10 largest of 17 changes.
quarter ended September 30, 2024 · filed November 07, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Applied Digital Corp | Added | +7,611,770 | +$62.8M | 61.8% |
| UF Us Foods Hldg Corp | Trimmed | −178,800 | −$11M | 11.2% |
| Ashland Inc | Exited | −78,837 | −$7.45M | — |
| L Leslies Inc | Trimmed | −1,867,487 | −$5.9M | 5.6% |
| GO Grocery Outlet Hldg Corp | Exited | −91,853 | −$2.03M | — |
| IF International FLAVORS&FRAGRA | Trimmed | −9,500 | −$997K | 17.4% |
| CT Comtech Telecommunications C | Added | +81,400 | +$392K | 4.0% |
| WM Willscot Mobil Mini Hldng Co | Exited | −7,585 | −$285K | — |
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