Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (23 quarters reported)
$184M in Q4 2020 → $4.28B 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 |
|---|---|---|---|---|
| Mastec Inc | 20.9% | Unchanged | 2,155,000 | $897M |
| First Solar Inc | 14.5% | Added 21% | 2,628,130 | $620M |
| DI Dycom Inds Inc | 11.9% | Unchanged | 1,009,784 | $511M |
| DH Dpc Holdings PLC | 8.8% | New | 7,693,605 | $377M |
| SN Stmicroelectronics N V | 5.4% | Added 35% | 3,100,000 | $232M |
| IP International Paper Co | 4.5% | Added 21% | 5,100,000 | $194M |
| GC Granite Constr Inc | 4.1% | Added 0.0% | 1,110,248 | $176M |
| JH James Hardie Inds PLC | 3.5% | Added 1.8% | 5,723,900 | $150M |
| Boeing Co | 3.1% | Added 13% | 621,583 | $135M |
| CS Cemex Sa Euro Mtn Be 144a | 3.0% | Unchanged | 10,802,750 | $130M |
| Centuri Holdings Inc | 2.8% | Unchanged | 4,030,000 | $122M |
| CP Crh PLC | 2.8% | Added 2.8% | 1,106,400 | $118M |
| Array Technologies Inc | 2.2% | Unchanged | 12,891,300 | $95.5M |
| AD Advanced Drain Sys Inc Del | 1.8% | Added 30% | 480,000 | $75.3M |
| Atkore Inc | 1.3% | Trimmed 0.6% | 724,106 | $55.1M |
| L Littelfuse Inc | 1.3% | New | 120,000 | $54.6M |
| Borgwarner Inc | 1.2% | New | 802,170 | $53.3M |
| Core & Main Inc | 1.2% | Added 19% | 1,028,650 | $49.6M |
| Ats Corporation | 1.1% | Unchanged | 1,649,857 | $47.5M |
| Wolfspeed Inc | 1.1% | Added 5.6% | 935,000 | $45.1M |
| Enersys | 1.0% | Unchanged | 190,000 | $44.4M |
| Trex Inc | 0.6% | Unchanged | 550,000 | $27.5M |
| WI Waterbridge Infrastructure L | 0.6% | Unchanged | 700,000 | $24M |
| Tfi International Inc | 0.5% | Unchanged | 145,000 | $20.8M |
| Garrett Motion Inc | 0.4% | New | 500,000 | $18.1M |
| Solv Energy Inc | 0.2% | Unchanged | 250,000 | $8.51M |
| E Erock Inc | 0.0% | New | 110,000 | $1.6M |
| Siteone Landscape Supply Inc | 0.0% | New | 2,900 | $332K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| DH Dpc Holdings PLC | New | +7,693,605 | +$377M | 8.8% |
| First Solar Inc | Added | +450,590 | +$106M | 14.5% |
| SN Stmicroelectronics N V | Added | +800,000 | +$59.9M | 5.4% |
| L Littelfuse Inc | New | +120,000 | +$54.6M | 1.3% |
| Borgwarner Inc | New | +802,170 | +$53.3M | 1.2% |
| IP International Paper Co | Added | +900,000 | +$34.3M | 4.5% |
| Garrett Motion Inc | New | +500,000 | +$18.1M | 0.4% |
| AD Advanced Drain Sys Inc Del | Added | +110,000 | +$17.3M | 1.8% |
| Equipmentshare Com Inc | Exited | −750,000 | −$15.3M | — |
| Boeing Co | Added | +70,100 | +$15.2M | 3.1% |
Showing the 10 largest of 18 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SN Stmicroelectronics N V | New | +2,300,000 | +$79.5M | 2.8% |
| IP International Paper Co | Added | +1,770,000 | +$63.2M | 5.4% |
| 3m Co | Exited | −370,000 | −$59.2M | — |
| Enersys | Trimmed | −277,500 | −$48.2M | 1.2% |
| AD Advanced Drain Sys Inc Del | Added | +210,000 | +$28.8M | 1.8% |
| Builders Firstsource Inc | Exited | −240,000 | −$24.7M | — |
| First Solar Inc | Added | +87,150 | +$17.2M | 15.3% |
| Equipmentshare Com Inc | New | +750,000 | +$15.3M | 0.5% |
| Wolfspeed Inc | New | +885,000 | +$14.4M | 0.5% |
| Siteone Landscape Supply Inc | Exited | −99,200 | −$12.4M | — |
Showing the 10 largest of 17 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Boeing Co | New | +518,483 | +$113M | 4.2% |
| SA Spirit Aerosystems Hldgs Inc | Exited | −2,652,093 | −$102M | — |
| Trex Co Inc | New | +552,000 | +$19.4M | 0.7% |
| JH James Hardie Inds PLC | Added | +901,700 | +$18.7M | 4.0% |
| IP International Paper Co | Added | +400,000 | +$15.8M | 3.6% |
| Centuri Holdings Inc | Added | +200,000 | +$5.05M | 3.8% |
| AD Advanced Drain Sys Inc Del | Added | +10,000 | +$1.45M | 0.9% |
| Core & Main Inc | Added | +21,500 | +$1.12M | 1.6% |
| Siteone Landscape Supply Inc | Trimmed | −1,050 | −$131K | 0.5% |
| First Solar Inc | Added | +390 | +$102K | 20.6% |
quarter ended September 30, 2025 · filed November 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| First Solar Inc | Exited | −990,000 | −$164M | — |
| JH James Hardie Inds PLC | New | +4,218,500 | +$81M | 3.4% |
| Cemex Sab De Cv | Added | +6,550,250 | +$58.9M | 4.1% |
| SA Spirit Aerosystems Hldgs Inc | Trimmed | −1,297,206 | −$50.1M | 4.3% |
| Atkore Inc | New | +728,206 | +$45.7M | 1.9% |
| AD Advanced Drain Sys Inc Del | New | +150,000 | +$20.8M | 0.9% |
| WI Waterbridge Infrastructure L | New | +700,000 | +$17.7M | 0.7% |
| Centuri Holdings Inc | Added | +800,000 | +$16.9M | 3.4% |
| First Solar Inc | Trimmed | −60,000 | −$13.2M | 19.5% |
| Wex Inc | Exited | −85,000 | −$12.5M | — |
Showing the 10 largest of 17 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| First Solar Inc | New | +990,000 | +$164M | 8.1% |
| First Solar Inc | Added | +795,000 | +$132M | 17.6% |
| SA Spirit Aerosystems Hldgs Inc | Trimmed | −2,025,701 | −$77.3M | 7.5% |
| Centuri Holdings Inc | New | +3,030,000 | +$68M | 3.4% |
| Cemex Sab De Cv | New | +4,252,500 | +$29.5M | 1.5% |
| Enersys | Added | +130,000 | +$11.2M | 1.9% |
| DI Dycom Inds Inc | Added | +40,000 | +$9.78M | 12.2% |
| Siteone Landscape Supply Inc | Added | +58,000 | +$7.01M | 0.6% |
| IP International Paper Co | Added | +130,000 | +$6.09M | 4.5% |
| GC Granite Constr Inc | Added | +50,500 | +$4.72M | 5.1% |
Showing the 10 largest of 12 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TG Triumph Group Inc New | Exited | −5,951,437 | −$111M | — |
| First Solar Inc | Added | +505,000 | +$63.8M | 12.8% |
| Atkore Inc | Exited | −460,908 | −$38.5M | — |
| LC Landbridge Company LLC | Exited | −595,000 | −$38.4M | — |
| Ats Corp | New | +1,299,857 | +$32.4M | 2.4% |
| DI Dycom Inds Inc | Added | +120,000 | +$18.3M | 11.0% |
| IP International Paper Co | Added | +250,000 | +$13.3M | 7.1% |
| Xpo Inc | Exited | −100,000 | −$13.1M | — |
| Sabre Corp | Trimmed | −1,950,000 | −$5.48M | 1.0% |
| Siteone Landscape Supply Inc | New | +42,250 | +$5.13M | 0.4% |
Showing the 10 largest of 13 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| First Solar Inc | Added | +390,000 | +$68.7M | 9.6% |
| Enersys | Trimmed | −380,000 | −$35.1M | 1.6% |
| DI Dycom Inds Inc | Added | +170,000 | +$29.6M | 9.5% |
| LC Landbridge Company LLC | Trimmed | −405,000 | −$26.2M | 2.5% |
| Rogers Corp | Exited | −80,000 | −$9.04M | — |
| Builders Firstsource Inc | Trimmed | −60,000 | −$8.58M | 2.2% |
| JI Janus International Group In | Exited | −812,721 | −$8.22M | — |
| GC Granite Constr Inc | Added | +70,000 | +$6.14M | 5.9% |
| Sabre Corp | Trimmed | −1,000,000 | −$3.65M | 1.5% |
| Loar Holdings Inc | Exited | −15,000 | −$1.12M | — |
Showing the 10 largest of 11 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IP International Paper Co | Added | +1,150,000 | +$56.2M | 5.0% |
| 3m Co | Added | +220,000 | +$30.1M | 3.3% |
| Rh | Exited | −60,255 | −$14.7M | — |
| SA Spirit Aerosystems Hldgs Inc | Trimmed | −400,000 | −$13M | 12.8% |
| Array Technologies Inc | Added | +950,000 | +$6.27M | 6.2% |
| GC Granite Constr Inc | Added | +48,440 | +$3.84M | 5.1% |
| DI Dycom Inds Inc | Added | +15,000 | +$2.96M | 8.8% |
| Ul Solutions Inc | Exited | −30,000 | −$1.27M | — |
| Sabre Corp | Trimmed | −300,000 | −$1.1M | 1.8% |
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