Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (47 quarters reported)
$3.65B in Q4 2014 → $4.64B 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 |
|---|---|---|---|---|
| EA Equinor Asa - Com Isin No0010096985 | 61.7% | Trimmed 2.7% | 91,020,939 | $2.86B |
| NA Novo-nordisk A S - Com Isin Dk0062498333 | 9.8% | Added 4.9% | 9,522,383 | $457M |
| C- Cadeler - Isin Dk0061412772 | 8.7% | Added 0.0% | 18,473,595 | $405M |
| F- Frontline Ltd. - Com Isin Bmg3682e1921 | 7.6% | Trimmed 6.1% | 10,082,471 | $351M |
| H- Hafnia - Isin Bmg4233b1090 | 4.2% | Added 2.2% | 29,245,653 | $194M |
| BL Bw Lpg - Isin Sgxz69436764 | 3.6% | Added 0.3% | 9,510,737 | $166M |
| N- Nokia Corp - Com Isin Fi0009000681 | 3.3% | Trimmed 15% | 11,477,781 | $152M |
| CT Cmb Tech - Isin Be0003816338 | 0.9% | Unchanged | 2,816,940 | $39.4M |
| TP Torm PLC - Isin Gb00bz3cnk81 | 0.2% | Unchanged | 285,570 | $7.44M |
| GA Genmab A S - Com Isin Dk0010272202 | 0.1% | Added 2.7% | 165,082 | $4.53M |
| OE Okeanis Eco Tankers Corp - Isin Mhy641771016 | 0.0% | New | 32,274 | $1.62M |
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 |
|---|---|---|---|---|
| EA Equinor Asa - Com Isin No0010096985 | Trimmed | −2,495,298 | −$78.4M | 61.7% |
| N- Nokia Corp - Com Isin Fi0009000681 | Trimmed | −1,998,717 | −$26.5M | 3.3% |
| F- Frontline Ltd. - Com Isin Bmg3682e1921 | Trimmed | −649,900 | −$22.6M | 7.6% |
| NA Novo-nordisk A S - Com Isin Dk0062498333 | Added | +441,563 | +$21.2M | 9.8% |
| OH Oculis Holding Ag-isin Ch1242303498 | Exited | −319,556 | −$8.5M | — |
| H- Hafnia - Isin Bmg4233b1090 | Added | +616,974 | +$4.1M | 4.2% |
| OE Okeanis Eco Tankers Corp - Isin Mhy641771016 | New | +32,274 | +$1.62M | — |
| BL Bw Lpg - Isin Sgxz69436764 | Added | +27,046 | +$471K | 3.6% |
| GA Genmab A S - Com Isin Dk0010272202 | Added | +4,309 | +$118K | 0.1% |
| C- Cadeler - Isin Dk0061412772 | Added | +2,631 | +$57.6K | 8.7% |
quarter ended March 31, 2026 · filed May 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| EA Equinor Asa - Com Isin No0010096985 | Trimmed | −10,723,337 | −$453M | 70.0% |
| F- Frontline Ltd. - Com Isin Bmg3682e1921 | Trimmed | −1,320,770 | −$46M | 6.6% |
| NA Novo-nordisk A S - Com Isin Dk0062498333 | Trimmed | −1,083,317 | −$39.8M | 5.9% |
| BL Bw Lpg - Isin Sgxz69436764 | Added | +1,752,458 | +$30.4M | 2.9% |
| C- Cadeler - Isin Dk0061412772 | Trimmed | −1,132,466 | −$26.6M | 7.7% |
| H- Hafnia - Isin Bmg4233b1090 | Trimmed | −3,369,711 | −$25.6M | 3.9% |
| N- Nokia Corp - Com Isin Fi0009000681 | Trimmed | −1,176,121 | −$9.46M | 1.9% |
| OH Oculis Holding Ag-isin Ch1242303498 | Added | +136,756 | +$3.64M | 0.2% |
| TP Torm PLC - Isin Gb00bz3cnk81 | Added | +46,908 | +$1.31M | 0.1% |
| GA Genmab A S - Com Isin Dk0010272202 | Trimmed | −14,032 | −$376K | 0.1% |
Showing the 10 largest of 11 changes.
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| EA Equinor Asa - Com Isin No0010096985 | Trimmed | −1,206,934 | −$31.8M | 63.9% |
| CT Cmb Tech - Isin Be0003816338 | Trimmed | −2,671,519 | −$25.8M | 0.6% |
| N- Nokia Corp - Com Isin Fi0009000681 | Trimmed | −2,727,911 | −$17.6M | 2.2% |
| F- Frontline Ltd. - Com Isin Bmg3682e1921 | Trimmed | −657,433 | −$14.3M | 6.1% |
| OH Oculis Holding Ag-isin Ch1242303498 | New | +182,800 | +$3.65M | 0.1% |
| TP Torm PLC - Isin Gb00bz3cnk81 | Added | +151,563 | +$2.97M | 0.1% |
| NA Novo-nordisk A S - Com Isin Dk0062498333 | Trimmed | −47,776 | −$2.43M | 12.0% |
| C- Cadeler - Isin Dk0061412772 | Added | +30,153 | +$561K | 8.5% |
| H- Hafnia - Isin Bmg4233b1090 | Trimmed | −70,412 | −$375K | 4.0% |
| BL Bw Lpg - Isin Sgxz69436764 | Added | +11,892 | +$156K | 2.4% |
quarter ended September 30, 2025 · filed November 03, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| EA Equinor Asa - Com Isin No0010096985 | Trimmed | −6,817,738 | −$166M | 60.1% |
| GO Golden Ocean Group Ltd. - Com Isin Bmg396372051 | Exited | −7,431,676 | −$54.4M | — |
| CT Cmb Tech - Isin Be0003816338 | New | +5,500,684 | +$51.7M | 1.2% |
| N- Nokia Corp - Com Isin Fi0009000681 | Added | +6,950,487 | +$33.4M | 2.0% |
| FL Flex Lng Ltd - Com Isin Bmg359472021 | Exited | −526,452 | −$11.6M | — |
| NA Novo-nordisk A S - Com Isin Dk0062498333 | Added | +117,370 | +$6.51M | 13.3% |
| C- Cadeler - Isin Dk0061412772 | Added | +127,311 | +$2.63M | 9.5% |
| F- Frontline Ltd. - Com Isin Bmg3682e1921 | Added | +82,673 | +$1.88M | 6.8% |
| TP Torm PLC - Isin Gb00bz3cnk81 | New | +87,099 | +$1.8M | — |
| H- Hafnia - Isin Bmg4233b1090 | Added | +208,585 | +$1.25M | 4.5% |
Showing the 10 largest of 12 changes.
quarter ended June 30, 2025 · filed August 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| EA Equinor Asa - Com Isin No0010096985 | Added | +2,315,915 | +$58.2M | 62.9% |
| NA Novo-nordisk A S - Com Isin Dk0062498333 | Added | +572,631 | +$39.5M | 15.5% |
| BL Bw Lpg - Isin Sgxz69436764 | Trimmed | −1,020,371 | −$12.1M | 2.0% |
| FL Flex Lng Ltd - Com Isin Bmg359472021 | Trimmed | −466,734 | −$10.3M | 0.3% |
| C- Cadeler - Isin Dk0061412772 | Added | +432,219 | +$8.59M | 8.6% |
| F- Frontline Ltd. - Com Isin Bmg3682e1921 | Added | +280,677 | +$4.61M | 4.6% |
| H- Hafnia - Isin Bmg4233b1090 | Added | +708,146 | +$3.53M | 3.5% |
| N- Nokia Corp - Com Isin Fi0009000681 | Added | +178,753 | +$916K | 1.2% |
| GA Genmab A S - Com Isin Dk0010272202 | Added | +2,411 | +$49.8K | 0.1% |
quarter ended March 31, 2025 · filed May 02, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NA Novo-nordisk A S - Com Isin Dk0062498333 | Added | +617,974 | +$42.9M | 14.7% |
| EA Equinor Asa - Com Isin No0010096985 | Trimmed | −1,517,748 | −$40.1M | 64.8% |
| A- Astrazeneca - Isin Gb0009895292 | Exited | −411,287 | −$26.9M | — |
| F- Frontline Ltd. - Com Isin Bmg3682e1921 | Trimmed | −670,959 | −$9.96M | 4.1% |
| BL Bw Lpg - Isin Sgxz69436764 | Trimmed | −558,616 | −$6.08M | 2.1% |
| C- Cadeler - Isin Dk0061412772 | Added | +300,550 | +$5.91M | 8.3% |
| GO Golden Ocean Group Ltd. - Com Isin Bmg396372051 | Trimmed | −55,589 | −$444K | 1.3% |
| H- Hafnia - Isin Bmg4233b1090 | Added | +1,117 | +$4.65K | 2.9% |
quarter ended December 31, 2024 · filed February 07, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| EA Equinor Asa - Com Isin No0010096985 | Added | +4,300,472 | +$102M | 59.3% |
| C- Cadeler - Isin Dk0061412772 | Added | +4,157,310 | +$92.8M | 9.4% |
| BD Borr Drilling - Isin Bmg1466r1732 | Exited | −13,500,440 | −$74.1M | — |
| F- Frontline Ltd. - Com Isin Bmg3682e1921 | Added | +1,124,324 | +$16M | 4.1% |
| N- Nokia Corp - Com Isin Fi0009000681 | Trimmed | −2,106,693 | −$9.33M | 1.0% |
| NA Novo-nordisk A S - Com Isin Dk0060534915 | Added | +40,313 | +$3.47M | 17.2% |
| H- Hafnia - Isin Bmg4233b1090 | Added | +421,656 | +$2.35M | 3.9% |
quarter ended September 30, 2024 · filed November 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| C- Cadeler - Isin Dk0061412772 | Added | +5,879,819 | +$166M | 8.1% |
| EA Equinor Asa - Com Isin No0010096985 | Trimmed | −4,014,379 | −$102M | 53.3% |
| S- Seadrill - Isin G7997w102 | Exited | −635,389 | −$32.7M | — |
| H- Hafnia - Isin Bmg4233b1090 | Added | +3,951,930 | +$28.3M | 4.3% |
| F- Frontline Ltd. - Com Isin Bmg3682e1921 | Added | +966,214 | +$22.1M | 5.3% |
| BD Borr Drilling - Isin Bmg1466r1732 | Added | +908,826 | +$4.99M | 1.5% |
| NA Novo-nordisk A S - Com Isin Dk0060534915 | Added | +24,902 | +$2.97M | 20.7% |
| BL Bw Lpg - Isin Sgxz69436764 | Trimmed | −13,759 | −$198K | 2.6% |
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