Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (48 quarters reported)
$2.46B in Q2 2013 → $579M now. Hover for any quarter.
As reported for the quarter ended March 31, 2025. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| SH Siriusxm Holdings Inc | 17.1% | Trimmed 31% | 4,395,520 | $99.1M |
| Alight Inc | 15.0% | Trimmed 31% | 14,683,290 | $87.1M |
| KM Kinder Morgan Inc Del | 14.2% | Trimmed 47% | 2,872,891 | $82M |
| GO Grocery Outlet Hldg Corp | 12.4% | Trimmed 14% | 5,126,825 | $71.7M |
| Liberty Broadband Corp | 11.8% | Trimmed 12% | 801,718 | $68.1M |
| Liberty Broadband Corp | 10.5% | Trimmed 43% | 711,827 | $60.5M |
| CH Commscope Hldg Co Inc | 8.7% | Trimmed 25% | 9,507,593 | $50.5M |
| AC Arch Cap Group Ltd | 7.7% | Trimmed 30% | 466,105 | $44.8M |
| GT Grupo Televisa S A B | 1.8% | Trimmed 74% | 5,851,700 | $10.2M |
| QG Qvc Group Inc | 0.8% | Trimmed 24% | 22,861,535 | $4.6M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| KM Kinder Morgan Inc Del | Trimmed | −2,530,000 | −$72.2M | 14.2% |
| Liberty Broadband Corp | Trimmed | −545,496 | −$46.4M | 10.5% |
| SH Siriusxm Holdings Inc | Trimmed | −1,957,000 | −$44.1M | 17.1% |
| Carvana Co | Exited | −197,100 | −$40.1M | — |
| Alight Inc | Trimmed | −6,525,000 | −$38.7M | 15.0% |
| GT Grupo Televisa S A B | Trimmed | −16,589,070 | −$29M | 1.8% |
| AC Arch Cap Group Ltd | Trimmed | −200,000 | −$19.2M | 7.7% |
| CH Commscope Hldg Co Inc | Trimmed | −3,200,000 | −$17M | 8.7% |
| GO Grocery Outlet Hldg Corp | Trimmed | −864,649 | −$12.1M | 12.4% |
| Liberty Broadband Corp | Trimmed | −106,504 | −$9.05M | 11.8% |
Showing the 10 largest of 11 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Carvana Co | Trimmed | −202,900 | −$41.3M | 4.4% |
| KM Kinder Morgan Inc Del | Trimmed | −1,394,141 | −$38.2M | 16.3% |
| Liberty Broadband Corp | Trimmed | −361,789 | −$27M | 10.3% |
| LM Liberty Media Corp Del | Exited | −335,317 | −$16.6M | — |
| GO Grocery Outlet Hldg Corp | Added | +791,474 | +$12.4M | 10.3% |
| Alight Inc | Trimmed | −947,894 | −$6.56M | 16.1% |
| CH Commscope Hldg Co Inc | Trimmed | −647,814 | −$3.38M | 7.3% |
| AC Arch Cap Group Ltd | Trimmed | −9,856 | −$910K | 6.8% |
| SH Siriusxm Holdings Inc | Trimmed | −23,032 | −$525K | 15.9% |
| Liberty Broadband Corp | Trimmed | −4,746 | −$353K | 7.4% |
Showing the 10 largest of 12 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SH Siriusxm Holdings Inc | New | +6,375,552 | +$151M | 14.1% |
| LM Liberty Media Corp Del | Exited | −6,043,537 | −$134M | — |
| Carvana Co | Trimmed | −400,000 | −$69.6M | 6.5% |
| GO Grocery Outlet Hldg Corp | Added | +3,800,000 | +$66.7M | 8.5% |
| CH Commscope Hldg Co Inc | Trimmed | −6,070,250 | −$37.1M | 7.6% |
| LM Liberty Media Corp Del | Exited | −1,569,067 | −$34.8M | — |
| Viasat Inc | Exited | −1,523,535 | −$19.3M | — |
| LM Liberty Media Corp Del | Exited | −499,482 | −$19.1M | — |
| AC Arch Cap Group Ltd | Trimmed | −100,000 | −$11.2M | 7.1% |
| KM Kinder Morgan Inc Del | Trimmed | −500,000 | −$11M | 14.0% |
Showing the 10 largest of 11 changes.
quarter ended June 30, 2024 · filed August 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Snap One Holdings Corp | Exited | −7,537,800 | −$65M | — |
| AC Arch Cap Group Ltd | Trimmed | −450,000 | −$45.4M | 7.9% |
| LM Liberty Media Corp Del | Trimmed | −610,081 | −$23.3M | 1.9% |
| Carvana Co | Trimmed | −168,700 | −$21.7M | 10.4% |
| KM Kinder Morgan Inc Del | Trimmed | −1,000,000 | −$19.9M | 14.7% |
| GO Grocery Outlet Hldg Corp | Added | +800,000 | +$17.7M | 3.1% |
| Viasat Inc | Trimmed | −200,000 | −$2.54M | 2.0% |
| LM Liberty Media Corp Del | Trimmed | −70,543 | −$1.56M | 3.5% |
| LM Liberty Media Corp Del | Trimmed | −18,090 | −$401K | 13.5% |
| LM Liberty Media Corp Del | Trimmed | −3,719 | −$140K | 1.8% |
quarter ended March 31, 2024 · filed May 15, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Carvana Co | Trimmed | −868,400 | −$76.3M | 6.8% |
| Alight Inc | Trimmed | −6,043,900 | −$59.5M | 17.3% |
| AC Arch Cap Group Ltd | Trimmed | −536,800 | −$49.6M | 9.0% |
| KM Kinder Morgan Inc Del | Trimmed | −2,264,900 | −$41.5M | 12.1% |
| Liberty Broadband Corp | Trimmed | −500,202 | −$28.6M | 7.4% |
| LM Liberty Media Corp Del | Trimmed | −579,816 | −$25.4M | 3.9% |
| Viasat Inc | Trimmed | −1,136,800 | −$20.6M | 2.5% |
| GO Grocery Outlet Hldg Corp | New | +600,000 | +$17.3M | 1.4% |
| GT Grupo Televisa S A B | Trimmed | −3,637,800 | −$11.6M | 5.7% |
| Liberty Broadband Corp | Trimmed | −187,798 | −$10.7M | 4.1% |
Showing the 10 largest of 11 changes.
quarter ended December 31, 2023 · filed February 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AC Arch Cap Group Ltd | Trimmed | −1,703,843 | −$127M | 8.6% |
| Alight Inc | Trimmed | −6,484,400 | −$55.3M | 15.7% |
| Liberty Broadband Corp | Trimmed | −631,315 | −$50.9M | 11.2% |
| Viasat Inc | Trimmed | −1,644,826 | −$46M | 5.2% |
| KM Kinder Morgan Inc Del | Trimmed | −2,429,500 | −$42.9M | 12.2% |
| LM Liberty Media Corp Del | Trimmed | −1,111,130 | −$32M | 11.4% |
| Carvana Co | Trimmed | −421,400 | −$22.3M | 6.4% |
| GT Grupo Televisa S A B | Trimmed | −5,945,447 | −$19.9M | 5.7% |
| Liberty Broadband Corp | Trimmed | −210,142 | −$16.9M | 5.8% |
| LM Liberty Media Corp Del | Trimmed | −269,366 | −$7.74M | 3.1% |
Showing the 10 largest of 13 changes.
quarter ended September 30, 2023 · filed November 14, 2023
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| LM Liberty Media Corp Del | Exited | −7,172,757 | −$235M | — |
| LM Liberty Media Corp Del | New | +7,172,757 | +$183M | 9.9% |
| LM Liberty Media Corp Del | Exited | −1,908,976 | −$62.6M | — |
| LM Liberty Media Corp Del | New | +1,793,188 | +$57.6M | 3.1% |
| LM Liberty Media Corp Del | New | +1,908,976 | +$48.6M | 2.6% |
| AC Arch Cap Group Ltd | Trimmed | −215,134 | −$17.1M | 15.0% |
| LM Liberty Media Corp Del | New | +477,243 | +$15.2M | 0.8% |
| Alight Inc | Added | +1,600,000 | +$11.3M | 13.3% |
| Viasat Inc | Added | +80,000 | +$1.48M | 4.5% |
| QR Qurate Retail Inc | Added | +2,000,000 | +$1.21M | 1.0% |
Showing the 10 largest of 12 changes.
quarter ended June 30, 2023 · filed August 14, 2023
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AC Arch Cap Group Ltd | Trimmed | −830,000 | −$62.1M | 13.3% |
| Liberty Broadband Corp | Added | +58,756 | +$4.71M | 10.7% |
| Liberty Broadband Corp | Added | +41,076 | +$3.27M | 5.1% |
| Carvana Co | Added | +100,000 | +$2.59M | 2.8% |
| QR Qurate Retail Inc | Added | +2,300,000 | +$2.28M | 1.4% |
| CH Commscope Hldg Co Inc | Added | +130,000 | +$732K | 5.7% |
| Viasat Inc | Trimmed | −17,451 | −$720K | 8.8% |
| LM Liberty Media Corp Del | Trimmed | −7,750 | −$254K | 11.4% |
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