Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (20 quarters reported)
$216M in Q4 2021 → $152M 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 |
|---|---|---|---|---|
| Microsoft Corp | 3.3% | Trimmed 10% | 9,707 | $4.98M |
| Meta Platforms Inc | 2.4% | Added 1.3% | 5,074 | $3.68M |
| AI Alphabet Inc-cl A | 2.4% | Trimmed 0.9% | 10,666 | $3.67M |
| DM Dorchester Minerals | 2.0% | Trimmed 14% | 109,133 | $3.06M |
| BS Black Stone Minerals LP | 2.0% | Added 1.6% | 209,494 | $3M |
| Mplx LP | 2.0% | Added 1.6% | 52,839 | $2.98M |
| Capital Southwest Corporation | 2.0% | Added 1.6% | 128,430 | $2.97M |
| AR Alliance Resource Partners, L.p. | 1.9% | Added 1.6% | 121,523 | $2.95M |
| Blackrock Enhanced Large Cap Core Fund Inc | 1.9% | Added 1.6% | 122,443 | $2.94M |
| EP Enterprise Products Partners L | 1.9% | Added 1.6% | 82,193 | $2.93M |
| CP Cvr Partners LP And Cvr Nitrogen Finance Corporation | 1.9% | Trimmed 13% | 23,577 | $2.92M |
| Fs Kkr Capital Corp | 1.9% | Added 40% | 264,098 | $2.9M |
| Barings Bdc Inc. | 1.8% | Added 1.6% | 313,194 | $2.7M |
| NF Nuveen Float Rate Inc Fd | 1.8% | Added 1.6% | 361,998 | $2.69M |
| Goldman Sachs Bdc Inc | 1.8% | Added 1.6% | 295,354 | $2.68M |
| NM New Mtn Fin Corp Com | 1.8% | Added 28% | 387,410 | $2.68M |
| GC Golub Cap Bdc Inc Com | 1.7% | Added 1.6% | 209,338 | $2.64M |
| Western Midstream Partners LP | 1.7% | Trimmed 18% | 58,062 | $2.58M |
| Delek Logistics Partners LP | 1.7% | Trimmed 22% | 48,331 | $2.57M |
| EL Eli Lilly & Co | 1.7% | Trimmed 5.4% | 2,219 | $2.57M |
| Pennantpark Floating Rate Capital Ltd. | 1.7% | Added 23% | 371,221 | $2.57M |
| Kimbell Royalty Partners LP | 1.7% | Trimmed 19% | 178,032 | $2.54M |
| Blackrock Floating Rate Income Strategies Fund Incorporated | 1.7% | Added 1.6% | 240,961 | $2.54M |
| Plains All American Pipeline LP | 1.7% | Trimmed 27% | 106,863 | $2.53M |
| Arbor Realty Trust Inc. | 1.6% | Added 81% | 646,953 | $2.5M |
| BD Blackrock Debt Strategies Fd | 1.6% | Added 1.6% | 276,527 | $2.49M |
| Franklin Limited Duration Income Trust | 1.6% | Added 1.6% | 459,391 | $2.46M |
| Western Asset High Income Fund Ii Inc. | 1.6% | Added 1.6% | 696,232 | $2.46M |
| Pennymac Mortgage Investment Trust | 1.6% | Added 40% | 311,609 | $2.46M |
| Ellington Financial Inc | 1.6% | Added 1.6% | 206,145 | $2.44M |
| Western Asset Global High Income Fund Inc. | 1.6% | Added 1.6% | 447,113 | $2.44M |
| Blackstone Mortgage Trust | 1.6% | New | 212,518 | $2.43M |
| Pimco High Income Fund | 1.6% | Added 1.6% | 589,959 | $2.42M |
| NH Neuberger High Yield Strategies Fund Inc. | 1.6% | Added 13% | 445,060 | $2.41M |
| Agnc Investment Corp | 1.6% | Added 1.6% | 261,960 | $2.38M |
| Pimco Income Strategy Fund | 1.5% | Added 1.6% | 340,656 | $2.35M |
| Annaly Capital Management, Inc. | 1.5% | Added 1.6% | 123,072 | $2.32M |
| Prospect Capital Corp. | 1.5% | Added 1.6% | 1,111,550 | $2.31M |
| Nuveen Churchill Direct Lending Corp | 1.5% | Added 1.6% | 204,945 | $2.3M |
| SP Starwood Property Trust Inc. | 1.5% | Added 13% | 169,466 | $2.29M |
| Morgan Stanley Direct Lending Fund | 1.5% | Added 1.6% | 166,952 | $2.28M |
| Dynex Capital Inc | 1.5% | Added 1.6% | 203,627 | $2.27M |
| Armour Residential REIT Inc. | 1.5% | Added 1.6% | 161,599 | $2.23M |
| Orchid Island Capital Inc. | 1.4% | Added 1.6% | 389,347 | $2.11M |
| Johnson & Johnson | 1.4% | Trimmed 11% | 7,874 | $2.08M |
| PT Palantir Technologie | 1.1% | Trimmed 11% | 9,252 | $1.73M |
| Cisco Systems Inc | 1.1% | Added 2.0% | 15,723 | $1.69M |
| Palo Alto Networks Inc | 1.0% | Trimmed 16% | 3,867 | $1.54M |
| Crowdstrike Holdings Inc | 1.0% | Added 250% | 5,601 | $1.48M |
| Oracle Corp | 0.9% | Added 21% | 9,619 | $1.32M |
| Arista Networks Inc | 0.9% | Trimmed 11% | 6,445 | $1.31M |
| S Salesforce.com Inc | 0.7% | Trimmed 14% | 4,764 | $1.09M |
| IS Intuitive Surg, Inc. | 0.7% | Added 4.8% | 2,601 | $1.06M |
| SI Snowflake Inc-class A | 0.6% | Trimmed 16% | 2,858 | $970K |
| C- Cloudflare Inc - Class A | 0.6% | Trimmed 12% | 2,761 | $959K |
| Servicenow Inc | 0.6% | Trimmed 9.6% | 7,084 | $949K |
| Fortinet Inc | 0.6% | Trimmed 11% | 5,057 | $904K |
| Vertex Pharmaceuticals Inc | 0.6% | Trimmed 9.9% | 1,640 | $857K |
| Datadog Inc | 0.5% | Trimmed 1.6% | 3,001 | $822K |
| Stryker Corp | 0.5% | Trimmed 4.1% | 2,943 | $810K |
Showing top 60 of 90 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2026 · filed October 29, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Two Harbors Investment Corp. | Exited | −264,265 | −$3.28M | — |
| Blackstone Mortgage Trust | New | +212,518 | +$2.43M | 1.6% |
| Arbor Realty Trust Inc. | Added | +289,683 | +$1.12M | 1.6% |
| Crowdstrike Holdings Inc | Added | +3,999 | +$1.06M | 1.0% |
| Plains All American Pipeline LP | Trimmed | −39,015 | −$925K | 1.7% |
| Fs Kkr Capital Corp | Added | +75,031 | +$825K | 1.9% |
| Delek Logistics Partners LP | Trimmed | −13,301 | −$708K | 1.7% |
| Pennymac Mortgage Investment Trust | Added | +89,605 | +$706K | 1.6% |
| Kimbell Royalty Partners LP | Trimmed | −42,367 | −$605K | 1.7% |
| NM New Mtn Fin Corp Com | Added | +84,083 | +$582K | 1.8% |
Showing the 10 largest of 91 changes.
quarter ended June 30, 2026 · filed August 04, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Johnson & Johnson | New | +8,799 | +$2.23M | 1.4% |
| Cisco Systems Inc | New | +15,418 | +$1.81M | 1.2% |
| Arista Networks Inc | New | +7,273 | +$1.24M | 0.8% |
| Oracle Corp | New | +7,946 | +$1.16M | 0.7% |
| Palo Alto Networks Inc | Trimmed | −3,124 | −$1.07M | 1.0% |
| Synopsys Inc | Exited | −2,216 | −$879K | — |
| Crowdstrike Holdings Inc | Trimmed | −1,057 | −$807K | 0.8% |
| Regeneron Pharmaceuticals | New | +1,120 | +$698K | 0.4% |
| Datadog Inc | Trimmed | −2,464 | −$642K | 0.5% |
| Ebay Inc | New | +5,370 | +$600K | 0.4% |
Showing the 10 largest of 103 changes.
quarter ended March 31, 2026 · filed April 23, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CP Cvr Partners LP And Cvr Nitrogen Finance Corporation | Trimmed | −4,460 | −$565K | 2.2% |
| Plains All American Pipeline LP | Trimmed | −24,586 | −$549K | 2.0% |
| Kimbell Royalty Partners LP | Trimmed | −37,291 | −$540K | 2.0% |
| EP Enterprise Products Partners L | Trimmed | −13,919 | −$527K | 1.9% |
| Meta Platforms Inc | Trimmed | −700 | −$400K | 2.1% |
| DM Dorchester Minerals | Trimmed | −12,578 | −$341K | 2.1% |
| AI Alphabet Inc-cl A | Trimmed | −1,168 | −$336K | 2.6% |
| AR Alliance Resource Partners, L.p. | Trimmed | −11,912 | −$329K | 2.1% |
| BS Black Stone Minerals LP | Trimmed | −20,520 | −$310K | 2.0% |
| Delek Logistics Partners LP | Trimmed | −6,137 | −$305K | 1.9% |
Showing the 10 largest of 90 changes.
quarter ended December 31, 2025 · filed January 27, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Broadcom Inc | Exited | −11,979 | −$3.95M | — |
| Morgan Stanley Emerging Markets Domestic Debt Fund Inc | Exited | −683,839 | −$3.68M | — |
| Global Net Lease Inc | Exited | −424,343 | −$3.45M | — |
| Trinity Capital Inc. | Exited | −212,465 | −$3.29M | — |
| Allspring Multi-sector Income Fund | Exited | −335,015 | −$3.21M | — |
| Outfront Media Inc | Exited | −171,052 | −$3.13M | — |
| UC Usa Compression Partners LP | Exited | −129,907 | −$3.12M | — |
| Mfs Charter Income Trust | Exited | −480,950 | −$3.09M | — |
| BD Blackrock Ltd Duration Inc | Exited | −217,573 | −$3.05M | — |
| Morgan Stanley Emerging Markets Debt Fund Inc | Exited | −401,260 | −$2.96M | — |
Showing the 10 largest of 117 changes.
quarter ended September 30, 2025 · filed October 21, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Morgan Stanley Emerging Markets Domestic Debt Fund Inc | Added | +60,231 | +$324K | 2.1% |
| Broadcom Inc | Trimmed | −982 | −$324K | 2.3% |
| AI Alphabet Inc-cl A | Trimmed | −1,295 | −$315K | 2.3% |
| Global Net Lease Inc | Added | +37,383 | +$304K | 2.0% |
| Annaly Capital Management, Inc. | Added | +14,807 | +$299K | 2.0% |
| Delek Logistics Partners LP | Added | +6,426 | +$293K | 1.9% |
| Trinity Capital Inc. | Added | +18,717 | +$290K | 1.9% |
| Ellington Financial Inc | Added | +22,287 | +$289K | 1.9% |
| Agnc Investment Corp | Added | +29,410 | +$288K | 1.9% |
| Allspring Multi-sector Income Fund | Added | +29,512 | +$283K | 1.9% |
Showing the 10 largest of 91 changes.
quarter ended June 30, 2025 · filed July 17, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Johnson & Johnson | Exited | −12,663 | −$2.1M | — |
| Microsoft Corp | Trimmed | −2,770 | −$1.38M | 3.5% |
| Stryker Corp | New | +3,239 | +$1.28M | 0.8% |
| Applied Materials Inc | Exited | −7,611 | −$1.1M | — |
| Arista Networks Inc | Exited | −11,789 | −$913K | — |
| Broadcom Inc | Trimmed | −2,921 | −$805K | 2.2% |
| Fair Isaac Corp | New | +404 | +$738K | 0.5% |
| PT Palantir Technologie | Trimmed | −4,248 | −$579K | 1.1% |
| Affirm Holdings Inc | New | +8,007 | +$554K | 0.3% |
| RI Reddit Inc-cl A | New | +3,671 | +$553K | 0.3% |
Showing the 10 largest of 99 changes.
quarter ended March 31, 2025 · filed April 16, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Outfront Media Inc | Exited | −140,757 | −$2.5M | — |
| Outfront Media Inc | New | +146,238 | +$2.36M | 1.5% |
| Broadcom Inc | Trimmed | −2,151 | −$360K | 1.7% |
| Meta Platforms Inc | Trimmed | −578 | −$333K | 2.1% |
| AI Alphabet Inc-cl A | Trimmed | −1,854 | −$287K | 1.9% |
| EL Eli Lilly & Co | Trimmed | −331 | −$273K | 1.6% |
| PT Palantir Technologie | Trimmed | −2,813 | −$237K | 0.9% |
| Pennymac Mortgage Investment Trust | Added | +12,610 | +$185K | 1.9% |
| UC Usa Compression Partners LP | Added | +6,730 | +$182K | 1.9% |
| Hess Midstream LP | Added | +4,280 | +$181K | 1.9% |
Showing the 10 largest of 91 changes.
quarter ended December 31, 2024 · filed February 04, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Broadcom Inc | New | +18,033 | +$4.18M | 2.6% |
| EL Eli Lilly & Co | New | +3,462 | +$2.67M | 1.7% |
| BL Blackstone Long-short Credit | Exited | −201,019 | −$2.57M | — |
| NC Nuveen Credit Strategies Incom | Exited | −442,271 | −$2.56M | — |
| Alexander's Inc | Exited | −10,474 | −$2.54M | — |
| Outfront Media Inc | New | +140,757 | +$2.5M | 1.6% |
| Morgan Stanley Emerging Markets Domestic Debt Fund Inc | New | +549,205 | +$2.49M | 1.6% |
| AR Alliance Resource Partners, L.p. | New | +94,815 | +$2.49M | 1.6% |
| Mfa Financial Inc. | New | +243,728 | +$2.48M | 1.6% |
| Morgan Stanley Emerging Markets Debt Fund Inc | New | +322,258 | +$2.48M | 1.6% |
Showing the 10 largest of 123 changes.
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