Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$2.48B in Q2 2013 → $2.64B 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 |
|---|---|---|---|---|
| Orla Mining Ltd | 21.5% | Added 84% | 58,399,504 | $568M |
| EG Eldorado Gold Corp | 16.2% | New | 13,746,506 | $427M |
| Kraft Heinz Co | 12.8% | Added 172% | 14,306,500 | $338M |
| Under Armour Inc | 11.0% | Added 5.5% | 45,356,965 | $290M |
| Cvs Health Corp | 10.6% | Unchanged | 2,712,000 | $281M |
| Cleveland-cliffs Inc | 5.3% | Unchanged | 14,899,273 | $140M |
| Under Armour Inc | 5.2% | Unchanged | 21,999,128 | $137M |
| Molson Coors Beverage Co | 2.9% | Added 39% | 1,994,500 | $77.7M |
| Ats Corp | 2.7% | Unchanged | 2,486,400 | $70.5M |
| WC Wendys Co | 2.5% | Added 145% | 8,005,627 | $66.3M |
| TS Taiwan Semiconductor Mfg Ltd | 1.7% | Unchanged | 93,700 | $44.7M |
| Helmerich & Payne Inc | 1.5% | Unchanged | 1,174,105 | $38.5M |
| BN Bank Nova Scotia | 1.2% | Unchanged | 359,100 | $31.2M |
| General Motors Co | 1.1% | Unchanged | 375,965 | $29M |
| Pfizer Inc | 1.0% | Added 5.3% | 1,043,900 | $25.1M |
| Merck & Co Inc | 0.8% | Unchanged | 172,900 | $22.2M |
| Johnson & Johnson | 0.7% | Unchanged | 73,400 | $18.6M |
| KK Kaspi Kz Jsc | 0.3% | New | 106,000 | $9.18M |
| Rogers Communications Inc | 0.2% | New | 150,200 | $4.87M |
| Garrett Motion Inc | 0.1% | Trimmed 44% | 102,783 | $3.72M |
| Canadian National Railway Co | 0.1% | Unchanged | 24,800 | $2.95M |
| CI Colliers Intl Group Inc | 0.1% | Unchanged | 25,000 | $2.33M |
| Warner Bros Discovery Inc | 0.1% | Added 41% | 81,900 | $2.18M |
| DP Domino's Pizza Inc | 0.1% | New | 7,230 | $2.14M |
| Capri Holdings Ltd | 0.1% | Unchanged | 78,100 | $1.45M |
| Lululemon Athletica Inc | 0.1% | Unchanged | 12,500 | $1.43M |
| Penn Entertainment Inc | 0.0% | Unchanged | 54,900 | $1.17M |
| Electronic Arts Inc | 0.0% | New | 5,100 | $1.05M |
| Berkshire Hathaway Inc | 0.0% | Unchanged | 1 | $749K |
| Brightstar Lottery PLC | 0.0% | Unchanged | 68,733 | $738K |
| CP Cementos Pacasmayo Saa | 0.0% | New | 50,000 | $595K |
| Magnachip Semiconductor Corp | 0.0% | Trimmed 50% | 62,500 | $296K |
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 |
|---|---|---|---|---|
| EG Eldorado Gold Corp | New | +13,746,506 | +$427M | 16.2% |
| Orla Mining Ltd | Added | +26,582,275 | +$259M | 21.5% |
| Kraft Heinz Co | Added | +9,038,300 | +$213M | 12.8% |
| Kennedy-wilson Holdings Inc | Exited | −13,322,009 | −$144M | — |
| Blackberry Ltd | Exited | −34,980,220 | −$113M | — |
| WC Wendys Co | Added | +4,736,725 | +$39.2M | 2.5% |
| Molson Coors Beverage Co | Added | +556,000 | +$21.7M | 2.9% |
| Under Armour Inc | Added | +2,356,093 | +$15.1M | 11.0% |
| KK Kaspi Kz Jsc | New | +106,000 | +$9.18M | 0.3% |
| Rogers Communications Inc | New | +150,200 | +$4.87M | 0.2% |
Showing the 10 largest of 18 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| OP Occidental Petroleum Corp | Exited | −6,050,418 | −$249M | — |
| Under Armour Inc | Added | +12,541,773 | +$72.4M | 6.5% |
| VI Vanguard Index Funds | Exited | −58,248 | −$36.5M | — |
| WC Wendys Co | New | +3,268,902 | +$22.8M | 1.2% |
| Under Armour Inc | Added | +1,041,949 | +$6.15M | 13.1% |
| Molson Coors Beverage Co | Added | +100,000 | +$4.31M | 3.2% |
| Kraft Heinz Co | Added | +149,200 | +$3.35M | 6.1% |
| Pfizer Inc | Added | +100,000 | +$2.81M | 1.4% |
| Warner Bros Discovery Inc | New | +57,900 | +$1.59M | 0.1% |
| Garrett Motion Inc | Trimmed | −76,000 | −$1.38M | 0.2% |
Showing the 10 largest of 13 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Orla Mining Ltd | Trimmed | −25,000,000 | −$333M | 20.3% |
| Under Armour Inc | Added | +35,647,123 | +$177M | 10.0% |
| Under Armour Inc | New | +9,457,355 | +$45.4M | 2.2% |
| Dollar Tree Inc | Exited | −44,380 | −$4.19M | — |
| Franco-nevada Corp | Exited | −16,800 | −$3.74M | — |
| Kkr & Co Inc | Exited | −20,000 | −$2.6M | — |
| Lululemon Athletica Inc | Trimmed | −12,500 | −$2.6M | 0.1% |
| Molson Coors Beverage Co | Added | +48,429 | +$2.26M | 3.0% |
| Canadian National Railway Co | New | +19,800 | +$1.96M | 0.1% |
| Blackberry Ltd | Trimmed | −415,100 | −$1.57M | 6.3% |
Showing the 10 largest of 12 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Blackberry Ltd | Trimmed | −5,389,380 | −$26.2M | 8.3% |
| VI Vanguard Index Funds | Trimmed | −14,652 | −$8.97M | 1.7% |
| Kraft Heinz Co | Added | +235,000 | +$6.12M | 6.5% |
| Pfizer Inc | Added | +240,000 | +$6.11M | 1.1% |
| Lululemon Athletica Inc | New | +25,000 | +$4.45M | 0.2% |
| Helmerich & Payne Inc | Added | +200,000 | +$4.42M | 1.3% |
| Dollar Tree Inc | New | +44,380 | +$4.19M | 0.2% |
| Molson Coors Beverage Co | Added | +71,571 | +$3.24M | 2.8% |
| Autohome Inc | Exited | −54,000 | −$1.39M | — |
| Lifeway Foods Inc | Exited | −31,618 | −$779K | — |
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 |
|---|---|---|---|---|
| VI Vanguard Index Funds | New | +72,900 | +$41.4M | 2.2% |
| Kraft Heinz Co | Added | +1,525,000 | +$39.4M | 6.7% |
| Blackberry Ltd | Trimmed | −5,940,000 | −$27.2M | 10.0% |
| TS Taiwan Semiconductor Mfg Ltd | Trimmed | −48,000 | −$10.9M | 1.1% |
| Micron Technology Inc | Exited | −80,000 | −$6.95M | — |
| Helmerich & Payne Inc | Added | +200,000 | +$3.03M | 0.8% |
| Gentex Corp | Exited | −85,000 | −$1.98M | — |
| OP Occidental Petroleum Corp | Added | +30,000 | +$1.26M | 13.6% |
| Penn Entertainment Inc | New | +54,900 | +$981K | 0.1% |
| Mgm Resorts International | Exited | −29,500 | −$875K | — |
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 |
|---|---|---|---|---|
| Cleveland-cliffs Inc | Added | +9,000,000 | +$74M | 6.6% |
| TI Tfi Intl Inc | Exited | −13,300 | −$1.79M | — |
| Kraft Heinz Co | Added | +45,000 | +$1.37M | 5.5% |
| Molson Coors Beverage Co | Added | +20,000 | +$1.22M | 4.0% |
| Xeris Biopharma Holdings Inc | Exited | −139,687 | −$472K | — |
| Lifeway Foods Inc | New | +17,367 | +$425K | — |
| Kkr & Co Inc | Trimmed | −3,500 | −$405K | 0.1% |
| CI Colliers Intl Group Inc | Trimmed | −3,000 | −$353K | 0.1% |
| RT Revance Therapeutics Inc | Exited | −21,158 | −$64.1K | — |
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Cvs Health Corp | New | +2,712,000 | +$122M | 7.8% |
| Kraft Heinz Co | Added | +2,564,000 | +$78.7M | 6.5% |
| Ats Corp | Added | +2,429,700 | +$72.2M | 4.7% |
| Molson Coors Beverage Co | New | +1,186,500 | +$68M | 4.4% |
| Cleveland-cliffs Inc | New | +5,899,273 | +$55.5M | 3.6% |
| Alphabet Inc | Exited | −274,620 | −$45.6M | — |
| Helmerich & Payne Inc | Added | +219,000 | +$7.01M | 1.6% |
| Pfizer Inc | Added | +190,000 | +$5.04M | 1.1% |
| Intel Corp | Exited | −190,000 | −$4.46M | — |
| Bank Of Nova Scotia | Added | +70,000 | +$3.76M | 1.2% |
Showing the 10 largest of 16 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VI Vanguard Index Fds | Exited | −95,000 | −$47.5M | — |
| Kraft Heinz Co | New | +750,000 | +$26.3M | 2.4% |
| FR Franklin Resources Inc | Exited | −1,000,000 | −$22.4M | — |
| AG Alibaba Group Hldg Ltd | Exited | −292,800 | −$21.1M | — |
| Under Armour Inc | Added | +2,088,100 | +$18.6M | 5.1% |
| Meta Platforms Inc | Exited | −12,800 | −$6.45M | — |
| SA Spirit Aerosystems Hldgs Inc | Exited | −152,000 | −$4.99M | — |
| Orla Mining Ltd | Added | +1,162,000 | +$4.62M | 20.5% |
| Micron Technology Inc | Added | +39,900 | +$4.14M | 0.8% |
| Ats Corporation | New | +56,700 | +$1.63M | 0.1% |
Showing the 10 largest of 16 changes.
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