Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (14 quarters reported)
$140M in Q1 2023 → $165M 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 |
|---|---|---|---|---|
| Novartis Ag | 14.6% | Trimmed 11% | 153,693 | $24.1M |
| Astrazeneca PLC | 13.7% | New | 118,844 | $22.5M |
| HH Hsbc Hldgs PLC | 12.3% | Added 1.1% | 213,514 | $20.3M |
| Sony Group Corp | 9.0% | Added 82% | 740,300 | $14.9M |
| DB Deutsche Bk Ag | 9.0% | New | 438,200 | $14.8M |
| Alcon Ag | 7.1% | New | 175,700 | $11.8M |
| NA Novo-nordisk A S | 7.1% | Trimmed 31% | 245,289 | $11.8M |
| SN Stmicroelectronics N V | 5.0% | Trimmed 63% | 110,722 | $8.29M |
| Rio Tinto PLC | 5.0% | Trimmed 35% | 86,466 | $8.21M |
| Sap Se | 4.8% | Added 1.2% | 51,414 | $7.92M |
| Shell PLC | 4.5% | Added 0.4% | 96,767 | $7.5M |
| Seadrill Ltd | 2.2% | Trimmed 41% | 94,510 | $3.57M |
| TS Taiwan Semiconductor Manufac | 0.6% | Unchanged | 2,168 | $1.04M |
| Alphabet Inc | 0.6% | Trimmed 0.1% | 2,687 | $960K |
| Jpmorgan Chase & Co | 0.5% | Unchanged | 2,278 | $746K |
| Analog Devices Inc | 0.3% | Trimmed 1.7% | 1,406 | $558K |
| CN Canadian Natl Ry Co | 0.3% | Unchanged | 4,125 | $492K |
| Diageo PLC | 0.3% | Unchanged | 5,952 | $478K |
| Mplx LP | 0.3% | Unchanged | 8,464 | $477K |
| Exxon Mobil Corp | 0.3% | Unchanged | 3,223 | $441K |
| CG Caseys Gen Stores Inc | 0.2% | Trimmed 5.1% | 517 | $411K |
| LF Lpl Finl Hldgs Inc | 0.2% | Trimmed 1.6% | 1,436 | $404K |
| Boeing Co | 0.2% | Trimmed 3.4% | 1,838 | $398K |
| Abbott Laboratories | 0.2% | New | 4,352 | $395K |
| LE Lauder Estee Cos Inc | 0.2% | Added 7.3% | 5,000 | $395K |
| Labcorp Holdings Inc | 0.2% | Added 1.4% | 1,301 | $364K |
| Rentokil Initial PLC | 0.2% | Added 17% | 12,343 | $353K |
| Wells Fargo & Co | 0.2% | Unchanged | 4,117 | $340K |
| VE Vaneck ETF Trust | 0.2% | New | 4,423 | $334K |
| Visa Inc | 0.2% | Added 1.0% | 933 | $320K |
| Uber Technologies Inc | 0.2% | Unchanged | 3,818 | $276K |
| SN Stellantis N.v | 0.1% | Trimmed 95% | 29,026 | $167K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 11, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Astrazeneca PLC | Exited | −145,297 | −$28.7M | — |
| Astrazeneca PLC | New | +118,844 | +$22.5M | 13.7% |
| DB Deutsche Bk Ag | New | +438,200 | +$14.8M | 9.0% |
| SN Stmicroelectronics N V | Trimmed | −186,194 | −$13.9M | 5.0% |
| Alcon Ag | New | +175,700 | +$11.8M | 7.1% |
| Sony Group Corp | Added | +333,289 | +$6.69M | 9.0% |
| NA Novo-nordisk A S | Trimmed | −110,285 | −$5.29M | 7.1% |
| Rio Tinto PLC | Trimmed | −47,068 | −$4.47M | 5.0% |
| SN Stellantis N.v | Trimmed | −608,833 | −$3.49M | 0.1% |
| Novartis Ag | Trimmed | −18,360 | −$2.88M | 14.6% |
Showing the 10 largest of 26 changes.
quarter ended March 31, 2026 · filed May 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Astrazeneca PLC | Trimmed | −145,375 | −$28.7M | 18.6% |
| CN Canadian Natl Ry Co | Trimmed | −151,880 | −$15.6M | 0.3% |
| Sony Group Corp | Trimmed | −365,105 | −$7.56M | 5.5% |
| HH Hsbc Hldgs PLC | Trimmed | −82,260 | −$6.79M | 11.3% |
| SN Stmicroelectronics N V | Trimmed | −186,182 | −$6.43M | 6.7% |
| Shell PLC | Trimmed | −67,455 | −$6.27M | 5.8% |
| SN Stellantis N.v | New | +637,859 | +$4.52M | 2.9% |
| Seadrill Ltd | Trimmed | −82,601 | −$3.76M | 4.8% |
| Rio Tinto PLC | Trimmed | −30,245 | −$2.82M | 8.1% |
| Sap Se | Added | +12,012 | +$2.06M | 5.6% |
Showing the 10 largest of 21 changes.
quarter ended December 31, 2025 · filed March 19, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| HH Hsbc Hldgs PLC | Added | +112,880 | +$8.88M | 10.9% |
| NA Novo-nordisk A S | Added | +164,957 | +$8.39M | 7.9% |
| Astrazeneca PLC | Added | +47,495 | +$8.34M | 24.0% |
| Rio Tinto PLC | Trimmed | −29,235 | −$2.34M | 6.2% |
| SN Stmicroelectronics N V | Trimmed | −68,910 | −$1.79M | 5.9% |
| Seadrill Ltd | Trimmed | −45,900 | −$1.59M | 4.0% |
| Sony Group Corp | Trimmed | −40,950 | −$1.05M | 9.3% |
| TS Taiwan Semiconductor Mfg Ltd | Exited | −2,168 | −$606K | — |
| Mplx LP | New | +8,464 | +$452K | 0.2% |
| Rentokil Initial PLC | Exited | −15,543 | −$392K | — |
Showing the 10 largest of 20 changes.
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Astrazeneca PLC | New | +243,177 | +$18.7M | 11.1% |
| HH Hsbc Hldgs PLC | New | +180,475 | +$12.8M | 7.6% |
| Rio Tinto PLC | Added | +156,759 | +$10.3M | 7.6% |
| Ambev Sa | Exited | −3,077,365 | −$7.42M | — |
| Hdfc Bank Ltd | Exited | −66,806 | −$5.12M | — |
| NA Novo-nordisk A S | Trimmed | −76,872 | −$4.27M | 5.4% |
| Sap Se | Trimmed | −8,402 | −$2.25M | 6.0% |
| SN Stmicroelectronics N V | Trimmed | −56,531 | −$1.6M | 9.3% |
| Novartis Ag | Added | +6,759 | +$867K | 13.1% |
| Jpmorgan Chase & Co. | New | +2,278 | +$719K | 0.4% |
Showing the 10 largest of 35 changes.
quarter ended June 30, 2025 · filed August 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NA Novo-nordisk A S | New | +242,166 | +$16.7M | 11.9% |
| Hdfc Bank Ltd | Trimmed | −153,547 | −$11.8M | 3.6% |
| Sap Se | Trimmed | −26,985 | −$8.21M | 10.0% |
| Sony Group Corp | Trimmed | −234,742 | −$6.11M | 15.0% |
| SN Stmicroelectronics N V | Added | +100,595 | +$3.06M | 13.1% |
| Novartis Ag | Trimmed | −22,901 | −$2.77M | 14.2% |
| Nutrien Ltd | Exited | −29,089 | −$1.44M | — |
| Ambev Sa | Trimmed | −450,685 | −$1.09M | 5.3% |
| CN Canadian Natl Ry Co | Trimmed | −10,323 | −$1.07M | 11.4% |
| Seadrill Ltd | Trimmed | −40,798 | −$1.07M | 5.6% |
Showing the 10 largest of 13 changes.
quarter ended March 31, 2025 · filed May 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SN Stmicroelectronics N V | New | +507,944 | +$11.2M | 7.8% |
| Sap Se | Trimmed | −32,764 | −$8.8M | 13.8% |
| Novartis Ag | Trimmed | −44,541 | −$4.97M | 14.7% |
| Shell PLC | Added | +58,241 | +$4.27M | 8.7% |
| Bp PLC | Exited | −86,349 | −$2.55M | — |
| Sony Group Corp | Trimmed | −74,538 | −$1.89M | 18.6% |
| Hdfc Bank Ltd | Trimmed | −11,382 | −$756K | 10.3% |
| CN Canadian Natl Ry Co | Added | +4,255 | +$415K | 11.3% |
| FN Franco Nev Corp | Trimmed | −1,500 | −$236K | 0.4% |
| Rio Tinto PLC | Added | +3,550 | +$213K | 1.5% |
Showing the 10 largest of 12 changes.
quarter ended December 31, 2024 · filed February 11, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Sony Group Corp | Added | +887,121 | +$18.8M | 17.3% |
| BI Baxter Intl Inc | Exited | −59,850 | −$2.27M | — |
| Sap Se | Trimmed | −8,937 | −$2.2M | 19.1% |
| Ambev Sa | Added | +1,028,050 | +$1.9M | 4.8% |
| AB Anheuser Busch Inbev Sa/nv | Exited | −25,544 | −$1.69M | — |
| Visa Inc | Exited | −5,955 | −$1.64M | — |
| Hdfc Bank Ltd | Trimmed | −24,576 | −$1.57M | 10.8% |
| Exxon Mobil Corp | Exited | −13,341 | −$1.56M | — |
| Elevance Health Inc | Exited | −2,995 | −$1.56M | — |
| CG Caseys Gen Stores Inc | Exited | −4,120 | −$1.55M | — |
Showing the 10 largest of 45 changes.
quarter ended September 30, 2024 · filed November 12, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NA Novo-nordisk A S | Exited | −101,702 | −$14.5M | — |
| Teck Resources Ltd | Trimmed | −206,880 | −$10.8M | 0.4% |
| TS Tenaris S A | Exited | −351,954 | −$10.7M | — |
| Bp PLC | Trimmed | −221,298 | −$6.95M | 1.5% |
| Novartis Ag | Added | +53,520 | +$6.16M | 14.0% |
| Ambev Sa | New | +2,500,000 | +$6.1M | 3.3% |
| Shell PLC | Added | +87,800 | +$5.79M | 3.9% |
| Sony Group Corp | Trimmed | −39,155 | −$3.78M | 12.2% |
| MU Mitsubishi Ufj Finl Group In | Trimmed | −296,178 | −$3.02M | 0.8% |
| Pfizer Inc | New | +51,950 | +$1.5M | 0.8% |
Showing the 10 largest of 46 changes.
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