Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$200M in Q2 2013 → $202M 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 |
|---|---|---|---|---|
| XH Xtrackers Harvest Csi 300 Chi | 18.0% | Added 68% | 992,880 | $36.4M |
| ET Energy Transfer LP | 13.4% | Unchanged | 1,421,945 | $27.2M |
| VT Vanguard Total Stock Market E | 12.6% | Added 66% | 68,900 | $25.5M |
| Ellington Financial Inc | 9.5% | Unchanged | 1,408,396 | $19.2M |
| T Tsmc | 7.5% | Trimmed 34% | 31,569 | $15.1M |
| JH Janus Henderson Aaa Clo ETF | 5.4% | Trimmed 66% | 217,672 | $11M |
| Rithm Capital Corp | 5.0% | Unchanged | 1,081,000 | $10.2M |
| Walmart Inc | 3.9% | Unchanged | 69,260 | $7.84M |
| Eqt Corp | 3.1% | New | 117,450 | $6.24M |
| Cheniere Energy Inc | 3.0% | Unchanged | 25,220 | $6.03M |
| Amazon.com Inc | 2.8% | Unchanged | 24,000 | $5.72M |
| Alphabet Inc | 2.6% | Trimmed 0.3% | 14,950 | $5.34M |
| Hut 8 Corp | 2.4% | Unchanged | 42,900 | $4.95M |
| Cipher Digital Inc | 1.7% | Unchanged | 140,845 | $3.45M |
| Expand Energy Corp | 1.7% | Unchanged | 36,720 | $3.35M |
| Terawulf Inc | 1.6% | Unchanged | 130,720 | $3.23M |
| SS Sixth Street Specialty Lendi | 1.0% | Unchanged | 116,141 | $1.99M |
| BM Blackstone Mortgage Tr | 1.0% | Unchanged | 2,000,000 | $1.98M |
| IT Ishares Tr | 0.8% | Added 46% | 17,400 | $1.65M |
| AC Ares Coml Real Estate Corp | 0.7% | Unchanged | 334,937 | $1.51M |
| Ares Capital Corp | 0.7% | Unchanged | 77,000 | $1.43M |
| OL Oxford Lane Cap Corp | 0.6% | Unchanged | 145,030 | $1.27M |
| Pdd Holdings Inc | 0.3% | New | 7,775 | $593K |
| LC Ladder Cap Corp | 0.2% | Unchanged | 45,000 | $448K |
| Goldman Sachs Bdc Inc | 0.2% | Unchanged | 47,177 | $447K |
| CI Ccc Intelligent Solutions Hl | 0.2% | Unchanged | 76,529 | $395K |
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 |
|---|---|---|---|---|
| JH Janus Henderson Aaa Clo ETF | Trimmed | −429,023 | −$21.7M | 5.4% |
| IC Ishares China Large-cap ETF | Exited | −476,390 | −$17.1M | — |
| XH Xtrackers Harvest Csi 300 Chi | Added | +402,600 | +$14.8M | 18.0% |
| VT Vanguard Total Stock Market E | Added | +27,500 | +$10.2M | 12.6% |
| T Tsmc | Trimmed | −16,261 | −$7.77M | 7.5% |
| Eqt Corp | New | +117,450 | +$6.24M | 3.1% |
| Karman Holdings Inc | Exited | −54,645 | −$4.37M | — |
| Microsoft Corp | Exited | −10,800 | −$4M | — |
| United Parcel Service Inc | Exited | −36,535 | −$3.59M | — |
| KD Kratos Defense & Security Sol | Exited | −44,030 | −$3.1M | — |
Showing the 10 largest of 16 changes.
quarter ended March 31, 2026 · filed May 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Rithm Capital Corp | New | +1,081,000 | +$10.2M | 4.6% |
| JH Janus Henderson Aaa Clo ETF | Trimmed | −200,000 | −$10.1M | 14.7% |
| Ellington Financial Inc | Added | +686,639 | +$8.14M | 7.5% |
| Alphabet Inc | New | +15,000 | +$4.31M | 1.9% |
| Unitedhealth Group Inc | Exited | −8,240 | −$2.72M | — |
| Hut 8 Corp | New | +42,900 | +$2.01M | 0.9% |
| Terawulf Inc | New | +130,720 | +$1.89M | 0.9% |
| Cipher Digital Inc | New | +140,845 | +$1.81M | 0.8% |
| Walmart Inc | Added | +12,500 | +$1.55M | 3.9% |
| SS Sixth Street Specialty Lendi | Added | +84,100 | +$1.55M | 1.0% |
Showing the 10 largest of 19 changes.
quarter ended December 31, 2025 · filed February 11, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VT Vanguard Total Stock Market E | Added | +29,218 | +$9.8M | 6.9% |
| Caesars Entertainment Inc | Trimmed | −272,690 | −$6.38M | 1.4% |
| Walmart Inc | New | +56,760 | +$6.32M | 3.2% |
| XH Xtrackers Harvest Csi 300 Chi | Added | +147,220 | +$4.84M | 9.7% |
| IC Ishares China Large-cap ETF | Added | +119,840 | +$4.59M | 9.1% |
| Unitedhealth Group Inc | New | +8,240 | +$2.72M | 1.4% |
| United Parcel Service Inc | New | +22,470 | +$2.23M | 1.1% |
| OL Oxford Lane Cap Corp | New | +145,030 | +$2.12M | 1.1% |
| Ares Capital Corp | New | +25,000 | +$506K | 0.3% |
| SS Sixth Street Specialty Lendi | Added | +12,000 | +$261K | 0.3% |
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Caesars Entertainment Inc | New | +389,580 | +$10.5M | 5.9% |
| XH Xtrackers Harvest Csi 300 Chi | Added | +155,030 | +$5.11M | 8.2% |
| IC Ishares China Large-cap ETF | Added | +123,040 | +$5.06M | 8.2% |
| KD Kratos Defense & Security Sol | New | +44,030 | +$4.02M | 2.3% |
| VT Vanguard Total Stock Market E | New | +12,182 | +$4M | 2.2% |
| Karman Holdings Inc | New | +54,645 | +$3.95M | 2.2% |
| Aerovironment Inc | New | +12,085 | +$3.81M | 2.1% |
| OL Oxford Lane Cap Corp | Exited | −560,153 | −$2.35M | — |
| IT Ishares Tr | Exited | −41,499 | −$1.27M | — |
| JD Janus Detroit Str Tr | New | +25,000 | +$1.2M | 0.7% |
Showing the 10 largest of 13 changes.
quarter ended June 30, 2025 · filed August 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mplx LP | Exited | −341,079 | −$18.3M | — |
| VT Vanguard Total Stock Market E | Exited | −59,280 | −$16.3M | — |
| Ellington Credit Co | Added | +424,700 | +$2.44M | 2.5% |
| Ellington Financial Inc | Added | +161,700 | +$2.1M | 6.6% |
| SS Sixth Street Specialty Lendi | Trimmed | −25,065 | −$597K | 0.3% |
| AI Agnc Invt Corp | New | +62,500 | +$574K | 0.4% |
| IT Ishares Tr | Added | +17,000 | +$522K | 0.9% |
| MF Mfa Finl Inc | Added | +50,000 | +$473K | 1.0% |
| OP Office Properties Income Trus | New | +1,399,800 | +$346K | 0.2% |
| OL Oxford Lane Cap Corp | Trimmed | −36,534 | −$153K | 1.7% |
quarter ended March 31, 2025 · filed May 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VT Vanguard Total Stock Market E | Trimmed | −108,810 | −$29.9M | 9.8% |
| JH Janus Henderson Aaa Clo ETF | Added | +448,705 | +$22.8M | 25.9% |
| I0 Ishares 0-5 Year High Yield C | Exited | −530,590 | −$22.6M | — |
| IC Ishares China Large-cap ETF | Added | +113,510 | +$4.07M | 5.0% |
| XH Xtrackers Harvest Csi 300 Chi | Added | +149,030 | +$3.96M | 4.6% |
| AI Agnc Invt Corp | Exited | −309,000 | −$2.85M | — |
| Ellington Financial Inc | Added | +171,926 | +$2.28M | 4.5% |
| Ellington Credit Co | New | +184,000 | +$995K | 0.6% |
| AC Ares Coml Real Estate Corp | New | +214,937 | +$995K | 0.6% |
| OL Oxford Lane Cap Corp | Added | +150,553 | +$711K | 1.7% |
Showing the 10 largest of 16 changes.
quarter ended December 31, 2024 · filed February 06, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Cnx Resources Corp | Exited | −256,850 | −$8.37M | — |
| Ellington Financial Inc | New | +388,131 | +$4.7M | 2.5% |
| XH Xtrackers Harvest Csi 300 Chi | New | +139,000 | +$3.68M | 1.9% |
| IC Ishares China Large-cap ETF | New | +120,000 | +$3.65M | 1.9% |
| CE Clearbridge Energy Midstream | Exited | −62,757 | −$2.65M | — |
| IT Ishares Tr | Exited | −20,500 | −$1.96M | — |
| AI Agnc Invt Corp | Added | +170,000 | +$1.57M | 1.5% |
| CI Ccc Intelligent Solutions Hl | New | +57,015 | +$669K | 0.4% |
| PE Pimco ETF Tr | New | +9,238 | +$634K | 0.3% |
| IT Ishares Tr | New | +10,000 | +$314K | 0.2% |
Showing the 10 largest of 13 changes.
quarter ended September 30, 2024 · filed November 01, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Alibaba Group Holding Ltd | Exited | −82,526 | −$5.94M | — |
| CE Clearbridge Energy Midstream | New | +62,757 | +$2.65M | 1.5% |
| CM Clearbridge Mlp & Midstream F | Exited | −33,150 | −$1.57M | — |
| CM Clearbridge Mlp & Midstream T | Exited | −25,700 | −$1.05M | — |
| PE Pimco ETF Tr | Exited | −10,980 | −$824K | — |
| OL Oxford Lane Cap Corp | Added | +129,184 | +$677K | 1.4% |
| MF Mfa Finl Inc | Trimmed | −20,000 | −$254K | 0.5% |
| AI Agnc Invt Corp | Trimmed | −21,000 | −$220K | 0.8% |
| IT Ishares Tr | New | +2,500 | +$201K | 0.1% |
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