Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (54 quarters reported)
$766M in Q2 2013 → $939M now. Hover for any quarter.
As reported for the quarter ended September 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Exxon Mobil | 7.3% | Trimmed 0.6% | 418,214 | $68.1M |
| Newmont Corporation | 6.0% | Trimmed 1.6% | 491,849 | $56.7M |
| TR Teck Resources Ltd Cl B | 5.9% | Trimmed 5.4% | 842,239 | $55.4M |
| Chevron | 5.1% | Trimmed 0.9% | 234,208 | $47.8M |
| BH Berkshire Hathaway Cl B | 5.0% | Trimmed 1.8% | 93,693 | $46.7M |
| Conocophillips | 3.7% | Trimmed 1.9% | 281,173 | $35.2M |
| Hp Inc | 3.6% | Trimmed 1.8% | 1,088,774 | $34.1M |
| Dollar General Corp | 3.6% | Trimmed 0.7% | 284,338 | $34M |
| Agnico Eagle Mines Ltd | 3.4% | Trimmed 0.7% | 174,771 | $32M |
| AS Adobe Sys | 3.4% | Trimmed 0.7% | 132,977 | $31.9M |
| VC Verizon Communications Inc Com | 3.1% | Trimmed 0.5% | 641,188 | $29.4M |
| MA Merck And Co. Inc. | 3.1% | Trimmed 0.3% | 201,997 | $29.4M |
| PC Pfizer Inc Com | 2.9% | Added 0.3% | 938,979 | $26.8M |
| Comcast | 2.5% | Added 57% | 1,071,254 | $23.3M |
| Federated Hermes, Inc | 2.2% | Trimmed 3.7% | 366,204 | $20.6M |
| AS Ambev Sa Spon ADR | 2.2% | Trimmed 0.5% | 7,048,327 | $20.6M |
| DP Diageo PLC New | 2.2% | Trimmed 1.1% | 239,005 | $20.5M |
| Permian Basin Royalty Trust | 2.0% | Trimmed 4.9% | 595,636 | $18.8M |
| Lkq Corp | 2.0% | Added 35% | 817,292 | $18.7M |
| FR Franklin Resources Inc Com | 2.0% | Trimmed 2.0% | 571,723 | $18.4M |
| CE Cenovus Energy, Inc. | 1.7% | Trimmed 0.6% | 504,479 | $15.7M |
| Intel Corp. | 1.7% | Trimmed 2.7% | 130,108 | $15.6M |
| BG Barrick Gold Corp | 1.6% | Trimmed 2.2% | 378,191 | $15.4M |
| Phillips 66 | 1.6% | Trimmed 1.9% | 60,191 | $15.4M |
| Mosaic | 1.6% | Added 1.5% | 704,998 | $15.3M |
| Tsakos Energy Navigation Ltd | 1.6% | Trimmed 6.1% | 316,012 | $14.9M |
| Gilead Sciences Inc | 1.6% | Trimmed 3.7% | 98,374 | $14.7M |
| Park Aerospace Corp | 1.6% | Trimmed 2.1% | 492,287 | $14.6M |
| Freeport-mcmoran Inc. | 1.5% | Trimmed 3.2% | 199,596 | $14M |
| Nutrien Ltd | 1.4% | Added 1.4% | 190,142 | $13.4M |
| Loews | 1.4% | Trimmed 2.8% | 121,876 | $12.7M |
| Apache Corp | 1.2% | Added 5.5% | 277,294 | $11.5M |
| S Sanofi | 1.2% | Trimmed 0.3% | 273,667 | $11.3M |
| Bristol Myers Squibb | 1.2% | Added 1.8% | 174,826 | $10.9M |
| CI Cnh Industrial Nv | 0.9% | Trimmed 0.8% | 678,892 | $8.72M |
| Tejon Ranch Co | 0.9% | Added 0.2% | 514,815 | $8.35M |
| Kraft Heinz Company | 0.8% | Added 0.2% | 327,495 | $7.44M |
| Builders Firstsource Inc | 0.8% | Trimmed 9.3% | 128,869 | $7.35M |
| Devon Energy | 0.8% | Added 4.0% | 158,238 | $7.29M |
| CS Campbell Soup Co | 0.7% | Trimmed 8.3% | 333,624 | $6.62M |
| NA Novo-nordisk ADR | 0.6% | Trimmed 10% | 159,173 | $6.03M |
| Ovintiv Inc | 0.6% | Trimmed 0.3% | 103,810 | $6M |
| Cameco Corp | 0.5% | Trimmed 2.7% | 54,047 | $4.68M |
| BH Berkshire Hathaway Hld A | 0.4% | Unchanged | 5 | $3.74M |
| Marathon Petroleum Corp | 0.2% | Trimmed 3.0% | 4,779 | $1.89M |
| WS Wal-mart Stores | 0.2% | Unchanged | 18,055 | $1.88M |
| Imperial Oil Ltd | 0.1% | Unchanged | 6,945 | $855K |
| Graftech International Ltd | 0.1% | Trimmed 3.2% | 102,994 | $852K |
| TC The Travelers Cos., Inc. | 0.1% | Unchanged | 2,315 | $825K |
| Transocean, Ltd | 0.1% | Trimmed 18% | 138,533 | $726K |
| Chubb Ltd Inc | 0.1% | Unchanged | 2,129 | $692K |
| RT Raytheon Technologies | 0.0% | Unchanged | 2,108 | $391K |
| IB International Business Machine | 0.0% | Trimmed 6.4% | 1,459 | $321K |
| JA Johnson And Johnson | 0.0% | Trimmed 2.1% | 1,190 | $315K |
| Murphy Oil Corp | 0.0% | New | 6,050 | $224K |
| San Juan Basin Royalty Trust | 0.0% | Unchanged | 14,565 | $53.2K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2026 · filed October 19, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Comcast | Added | +388,834 | +$8.46M | 2.5% |
| Lkq Corp | Added | +213,868 | +$4.88M | 2.0% |
| TR Teck Resources Ltd Cl B | Trimmed | −47,694 | −$3.14M | 5.9% |
| Permian Basin Royalty Trust | Trimmed | −30,695 | −$966K | 2.0% |
| Tsakos Energy Navigation Ltd | Trimmed | −20,429 | −$965K | 1.6% |
| Newmont Corporation | Trimmed | −7,746 | −$893K | 6.0% |
| BH Berkshire Hathaway Cl B | Trimmed | −1,706 | −$850K | 5.0% |
| Federated Hermes, Inc | Trimmed | −13,913 | −$784K | 2.2% |
| Builders Firstsource Inc | Trimmed | −13,225 | −$754K | 0.8% |
| NA Novo-nordisk ADR | Trimmed | −18,665 | −$708K | 0.6% |
Showing the 10 largest of 50 changes.
quarter ended June 30, 2026 · filed July 21, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Exxon Mobil | Exited | −421,849 | −$71.6M | — |
| Exxon Mobil | New | +420,834 | +$57.5M | 6.7% |
| Intel Corp. | Trimmed | −324,802 | −$45.4M | 2.2% |
| Builders Firstsource Inc | New | +142,094 | +$12.7M | 1.5% |
| AS Adobe Sys | Added | +55,519 | +$11.4M | 3.2% |
| TR Teck Resources Ltd Cl B | Trimmed | −23,286 | −$1.38M | 6.2% |
| BH Berkshire Hathaway Cl B | Trimmed | −1,582 | −$792K | 5.6% |
| Federated Hermes, Inc | Trimmed | −6,869 | −$379K | 2.4% |
| Bristol Myers Squibb | Added | +5,862 | +$338K | 1.2% |
| Dollar General Corp | Added | +2,925 | +$337K | 3.8% |
Showing the 10 largest of 51 changes.
quarter ended March 31, 2026 · filed April 21, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AS Adobe Sys Del Pv$ 0.001 | New | +78,445 | +$19.1M | 2.1% |
| Hp Inc | Added | +732,200 | +$14.1M | 2.4% |
| DP Diageo PLC New | Added | +134,337 | +$10M | 2.0% |
| BG Barrick Gold Corp | Trimmed | −210,024 | −$8.57M | 1.8% |
| CS Campbell Soup Co | New | +356,600 | +$7.94M | 0.9% |
| NG Newmont Goldcorp | Trimmed | −71,028 | −$7.69M | 6.1% |
| Agnico Eagle Mines Ltd | Trimmed | −35,292 | −$7.16M | 4.0% |
| Intel Corp. | Trimmed | −44,021 | −$1.94M | 2.3% |
| Comcast | Added | +45,542 | +$1.31M | 2.2% |
| MA Merck And Co. Inc. | Added | +9,114 | +$1.1M | 2.7% |
Showing the 10 largest of 45 changes.
quarter ended December 31, 2025 · filed January 22, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Comcast | Added | +415,149 | +$12.4M | 2.5% |
| DP Diageo PLC New | New | +105,827 | +$9.13M | 1.2% |
| TR Teck Resources Ltd Cl B | Trimmed | −30,968 | −$1.48M | 5.9% |
| Intel Corp. | Trimmed | −29,871 | −$1.1M | 2.5% |
| Graftech International Ltd | Trimmed | −57,590 | −$893K | 0.2% |
| Apache Corp | Added | +14,779 | +$361K | 0.8% |
| MA Merck And Co. Inc. | Added | +2,317 | +$244K | 2.7% |
| Devon Energy | Added | +6,192 | +$227K | 0.6% |
| Exxon Mobil | Added | +1,771 | +$213K | 6.8% |
| Mosaic | Added | +8,321 | +$200K | 2.1% |
Showing the 10 largest of 41 changes.
quarter ended September 30, 2025 · filed October 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Lkq Corp | New | +580,193 | +$17.7M | 2.5% |
| Cameco Corp | Trimmed | −204,198 | −$17.1M | 0.7% |
| Agnico Eagle Mines Ltd | Trimmed | −90,874 | −$15.3M | 5.1% |
| Cisco Systems | Exited | −138,431 | −$9.6M | — |
| NA Novo-nordisk ADR | New | +167,766 | +$9.31M | 1.3% |
| NG Newmont Goldcorp | Trimmed | −105,512 | −$8.9M | 6.9% |
| Graftech International Ltd | New | +172,648 | +$2.21M | 0.3% |
| Graftech International Ltd | Exited | −1,672,332 | −$1.63M | — |
| AG Alamos Gold Inc Fclass A | Exited | −51,477 | −$1.37M | — |
| BH Berkshire Hathaway Hld A | Added | +1 | +$754K | 0.5% |
Showing the 10 largest of 49 changes.
quarter ended June 30, 2025 · filed July 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Cameco Corp | Trimmed | −290,945 | −$21.6M | 3.0% |
| BG Barrick Gold Corp | New | +595,734 | +$12.4M | 1.9% |
| BG Barrick Gold Corp | Exited | −601,642 | −$11.7M | — |
| Comcast | New | +208,053 | +$7.43M | 1.1% |
| Apache Corp | Added | +43,444 | +$795K | 0.6% |
| Devon Energy | Added | +19,363 | +$616K | 0.6% |
| BH Berkshire Hathaway Cl B | Trimmed | −1,196 | −$581K | 7.3% |
| Agnico Eagle Mines Ltd | Trimmed | −4,078 | −$485K | 5.6% |
| Park Aerospace Corp | Added | +19,087 | +$282K | 1.1% |
| NG Newmont Goldcorp | Trimmed | −4,481 | −$261K | 6.1% |
Showing the 10 largest of 44 changes.
quarter ended March 31, 2025 · filed April 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Dollar General Corp | Added | +183,726 | +$16.2M | 3.9% |
| Gilead Sciences Inc | Trimmed | −97,803 | −$11M | 1.9% |
| PG Paramount Global | Exited | −1,037,987 | −$10.9M | — |
| PC Pfizer Inc Com | Added | +323,118 | +$8.19M | 3.6% |
| MA Merck And Co. Inc. | Added | +59,369 | +$5.33M | 2.6% |
| Exxon Mobil | Trimmed | −14,444 | −$1.72M | 7.8% |
| BG Barrick Gold Corp | Trimmed | −79,805 | −$1.55M | 1.8% |
| TR Teck Resources Ltd Cl B | Trimmed | −42,472 | −$1.55M | 5.4% |
| BH Berkshire Hathaway Cl B | Trimmed | −2,686 | −$1.43M | 8.2% |
| Chevron | Trimmed | −8,482 | −$1.42M | 6.1% |
Showing the 10 largest of 47 changes.
quarter ended December 31, 2024 · filed January 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Nutrien Ltd | New | +173,060 | +$7.74M | 1.3% |
| Loews | Added | +20,031 | +$1.7M | 1.9% |
| G Glatfelter Corp | Exited | −423,856 | −$763K | — |
| TR Teck Resources Ltd Cl B | Trimmed | −18,802 | −$762K | 6.7% |
| Magnera Corporation | New | +30,085 | +$547K | 0.1% |
| PG Paramount Global | Trimmed | −50,444 | −$528K | 1.8% |
| Cameco Corp | Trimmed | −6,519 | −$335K | 4.9% |
| Conocophillips | Trimmed | −3,313 | −$329K | 4.8% |
| FR Franklin Resources Inc Com | Trimmed | −13,389 | −$272K | 1.9% |
| BH Berkshire Hathaway Cl B | Added | +522 | +$237K | 7.6% |
Showing the 10 largest of 47 changes.
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