Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (20 quarters reported)
$232M in Q4 2020 → $88.6M now. Hover for any quarter.
As reported for the quarter ended September 30, 2025. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| PI Powell Inds Inc | 40.9% | Unchanged | 119,000 | $36.3M |
| Vertiv Holdings Co | 27.2% | Added 31% | 160,000 | $24.1M |
| First Solar Inc | 11.9% | New | 48,000 | $10.6M |
| HH Herc Hldgs Inc | 9.7% | New | 74,000 | $8.63M |
| SG SPDR Gold Tr | 5.3% | New | 13,100 | $4.66M |
| Hubbell Inc | 4.9% | Unchanged | 10,000 | $4.3M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| First Solar Inc | New | +48,000 | +$10.6M | 11.9% |
| Eaton Corp PLC | Exited | −29,000 | −$10.4M | — |
| HH Herc Hldgs Inc | New | +74,000 | +$8.63M | 9.7% |
| Vertiv Holdings Co | Added | +38,000 | +$5.73M | 27.2% |
| SG SPDR Gold Tr | New | +13,100 | +$4.66M | 5.3% |
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Intel Corp | Exited | −2,420,000 | −$55M | — |
| Vertiv Holdings Co | New | +122,000 | +$15.7M | 28.4% |
| PI Powell Inds Inc | Added | +47,000 | +$9.89M | 45.4% |
| Antero Resources Corp | Exited | −138,000 | −$5.58M | — |
| Hubbell Inc | New | +10,000 | +$4.08M | 7.4% |
| Eaton Corp PLC | Added | +8,600 | +$3.07M | 18.8% |
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Intel Corp | New | +2,420,000 | +$55M | 70.1% |
| Baker Hughes Company | Exited | −208,000 | −$8.53M | — |
| Hubbell Inc | Exited | −19,763 | −$8.28M | — |
| Flowserve Corp | Exited | −128,000 | −$7.36M | — |
| Antero Resources Corp | New | +138,000 | +$5.58M | 7.1% |
| Eaton Corp PLC | New | +20,400 | +$5.55M | 7.1% |
| PI Powell Inds Inc | Added | +22,700 | +$3.87M | 15.7% |
| CA Century Alum Co | Exited | −136,000 | −$2.48M | — |
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Vertiv Holdings Co | Exited | −133,000 | −$13.2M | — |
| Baker Hughes Company | New | +208,000 | +$8.53M | 22.7% |
| First Solar Inc | Exited | −31,800 | −$7.93M | — |
| Flowserve Corp | New | +128,000 | +$7.36M | 19.6% |
| Exxon Mobil Corp | Exited | −46,333 | −$5.43M | — |
| Coherent Corp | Exited | −45,500 | −$4.05M | — |
| CA Century Alum Co | New | +136,000 | +$2.48M | 6.6% |
| PI Powell Inds Inc | Trimmed | −10,200 | −$2.26M | 29.1% |
| Hubbell Inc | Added | +4,200 | +$1.76M | 22.0% |
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AM Applied Matls Inc | Exited | −51,231 | −$12.1M | — |
| AH Asml Holding N V | Exited | −10,242 | −$10.5M | — |
| Fluence Energy Inc | Exited | −495,000 | −$8.58M | — |
| Vertiv Holdings Co | Trimmed | −76,325 | −$7.59M | 26.2% |
| Vistra Corp | Exited | −76,000 | −$6.53M | — |
| Nrg Energy Inc | Exited | −73,000 | −$5.68M | — |
| First Solar Inc | Added | +19,700 | +$4.91M | 15.7% |
| Hubbell Inc | Trimmed | −10,300 | −$4.41M | 13.2% |
| Microsoft Corp | Exited | −9,700 | −$4.34M | — |
| Coherent Corp | New | +45,500 | +$4.05M | 8.0% |
Showing the 10 largest of 12 changes.
quarter ended June 30, 2024 · filed August 12, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Fluence Energy Inc | New | +495,000 | +$8.58M | 9.0% |
| Amazon Com Inc | Exited | −43,474 | −$7.84M | — |
| PI Powell Inds Inc | Added | +29,300 | +$4.2M | 9.2% |
| Microsoft Corp | Trimmed | −9,366 | −$4.19M | 4.5% |
| AH Asml Holding N V | Added | +3,700 | +$3.78M | 11.0% |
| First Solar Inc | New | +12,100 | +$2.73M | 2.9% |
| Vertiv Holdings Co | Trimmed | −6,000 | −$519K | 19.0% |
quarter ended March 31, 2024 · filed May 15, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Hubbell Inc | New | +25,863 | +$10.7M | 12.7% |
| AM Applied Matls Inc | New | +51,231 | +$10.6M | 12.5% |
| Vertiv Holdings Co | Added | +113,103 | +$9.24M | 20.8% |
| Block Inc | Exited | −99,846 | −$7.72M | — |
| AH Asml Holding N V | New | +6,542 | +$6.35M | 7.5% |
| Exxon Mobil Corp | Trimmed | −48,154 | −$5.6M | 10.2% |
| RS Republic Svcs Inc | Exited | −30,517 | −$5.03M | — |
| Nrg Energy Inc | New | +73,000 | +$4.94M | 5.8% |
| PI Powell Inds Inc | New | +32,074 | +$4.56M | 5.4% |
| Amazon Com Inc | Trimmed | −21,950 | −$3.96M | 9.3% |
Showing the 10 largest of 12 changes.
quarter ended December 31, 2023 · filed February 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| RS Republic Svcs Inc | Trimmed | −152,054 | −$25.1M | 9.2% |
| Vertiv Holdings Co | Trimmed | −386,340 | −$18.6M | 9.0% |
| Lam Research Corp | Exited | −28,390 | −$17.8M | — |
| TS Taiwan Semiconductor Mfg Ltd | Exited | −172,900 | −$15M | — |
| First Solar Inc | Exited | −81,815 | −$13.2M | — |
| Microsoft Corp | Trimmed | −33,873 | −$12.7M | 18.3% |
| Nvidia Corporation | Exited | −26,361 | −$11.5M | — |
| Vistra Corp | Trimmed | −294,836 | −$11.4M | 9.1% |
| Hubbell Inc | Exited | −34,452 | −$10.8M | — |
| Amazon Com Inc | New | +65,424 | +$9.94M | 18.1% |
Showing the 10 largest of 15 changes.
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