Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$1.78B in Q2 2013 → $176M 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 |
|---|---|---|---|---|
| CA Century Alum Co | 27.0% | Added 6.2% | 1,035,000 | $47.6M |
| Ero Copper Corp | 17.7% | Added 14% | 1,169,000 | $31.2M |
| Buckle Inc | 9.9% | Trimmed 1.8% | 412,000 | $17.4M |
| DH Dow Hldgs Inc | 8.3% | New | 537,000 | $14.7M |
| Tronox Holdings PLC | 6.9% | Added 262% | 1,920,000 | $12.1M |
| Abercrombie & Fitch Co | 5.5% | Added 62% | 108,658 | $9.78M |
| SL Slb Limited | 4.9% | Added 18% | 185,000 | $8.6M |
| Alcoa Corp | 4.0% | Added 3.8% | 135,000 | $7.04M |
| CA Century Alum Co | 3.9% | New | 150,000 | $6.9M |
| Tronox Holdings PLC | 2.5% | Trimmed 41% | 690,000 | $4.35M |
| DE Devon Energy Corp New | 2.1% | New | 90,000 | $3.72M |
| Diamondback Energy Inc | 1.9% | Added 90% | 19,000 | $3.34M |
| DH Dow Hldgs Inc | 1.6% | New | 100,000 | $2.74M |
| Star Bulk Carriers Corp | 1.1% | Trimmed 33% | 80,479 | $2.01M |
| Dht Holdings Inc | 0.8% | Added 70% | 85,050 | $1.41M |
| Ivanhoe Electric Inc | 0.8% | New | 140,000 | $1.35M |
| MI Mueller Inds Inc | 0.3% | Trimmed 67% | 5,000 | $615K |
| Huntsman Corp | 0.3% | Trimmed 89% | 50,100 | $532K |
| Vista Gold Corp | 0.3% | New | 275,000 | $525K |
| Vera Bradley Inc | 0.3% | New | 125,000 | $486K |
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 Dow Hldgs Inc | New | +537,000 | +$14.7M | 8.3% |
| EC Eastman Chem Co | Exited | −115,000 | −$8.78M | — |
| PI Ppg Inds Inc | Exited | −82,000 | −$8.76M | — |
| Tronox Holdings PLC | Added | +1,390,000 | +$8.76M | 6.9% |
| CD Celanese Corp Del | Exited | −110,000 | −$7.23M | — |
| Huntsman Corp | Exited | −540,000 | −$7.19M | — |
| CA Century Alum Co | New | +150,000 | +$6.9M | 3.9% |
| AS Arcelormittal Sa Luxembourg | Exited | −110,887 | −$5.67M | — |
| DS Dicks Sporting Goods Inc | Exited | −22,500 | −$4.46M | — |
| Huntsman Corp | Trimmed | −400,900 | −$4.26M | 0.3% |
Showing the 10 largest of 33 changes.
quarter ended March 31, 2026 · filed May 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| EC Eastman Chem Co | New | +115,000 | +$8.78M | 4.1% |
| PI Ppg Inds Inc | New | +82,000 | +$8.76M | 4.1% |
| Alcoa Corp | New | +130,000 | +$8.62M | 4.0% |
| SL Slb Limited Com Stk | New | +157,284 | +$8.08M | 3.8% |
| Whirlpool Corp | Exited | −110,000 | −$7.94M | — |
| CD Celanese Corp Del | New | +110,000 | +$7.23M | 3.4% |
| CA Century Alum Co | Added | +117,195 | +$6.88M | 26.7% |
| A& Abercrombie & Fitch Co Cl A | New | +67,000 | +$6.12M | 2.9% |
| Tronox Holdings PLC | Trimmed | −613,851 | −$6M | 2.4% |
| Arcbest Corp | Trimmed | −50,000 | −$4.92M | 0.9% |
Showing the 10 largest of 35 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Ero Copper Corp | Trimmed | −757,400 | −$21.5M | 17.0% |
| AS Academy Sports & Outdoors Inc | Exited | −397,115 | −$19.9M | — |
| Westlake Corporation | Exited | −115,000 | −$8.86M | — |
| Buckle Inc | Added | +162,119 | +$8.66M | 13.5% |
| Huntsman Corp | Trimmed | −864,000 | −$8.64M | 5.5% |
| Whirlpool Corp | New | +110,000 | +$7.94M | 5.0% |
| AS Arcelormittal Sa Luxembourg | New | +158,866 | +$7.28M | 4.6% |
| A& Abercrombie & Fitch Co Cl A | Exited | −81,500 | −$6.97M | — |
| CA Century Alum Co | Added | +168,805 | +$6.61M | 21.2% |
| IM Ivanhoe Mines Ltd Com Cl A | Exited | −539,900 | −$5.72M | — |
Showing the 10 largest of 33 changes.
quarter ended September 30, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Tronox Holdings PLC | Trimmed | −640,685 | −$258M | 2.6% |
| Teck Resources Ltd | Exited | −287,382 | −$11.6M | — |
| Westlake Corporation | New | +115,000 | +$8.86M | 5.5% |
| Buckle Inc | Trimmed | −119,038 | −$6.98M | 8.7% |
| Huntsman Corp | Added | +575,800 | +$5.17M | 9.6% |
| AS Academy Sports & Outdoors Inc | Trimmed | −84,809 | −$4.24M | 12.3% |
| IM Ivanhoe Mines Ltd Com Cl A | Added | +389,900 | +$4.13M | 3.6% |
| CA Century Alum Co | Trimmed | −114,894 | −$3.37M | 12.6% |
| United Parcel Service | Exited | −33,000 | −$3.33M | — |
| S Schlumberger Ltd | Exited | −90,042 | −$3.04M | — |
Showing the 10 largest of 30 changes.
quarter ended June 30, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Huntsman Corp | Added | +833,418 | +$9.12M | 8.0% |
| WF West Frasier Timber Co Ltd | Exited | −113,900 | −$8.75M | — |
| AS Academt Sports & Outdoors Inc | Added | +176,773 | +$7.93M | 13.7% |
| Teck Resources Ltd | Trimmed | −146,618 | −$5.92M | 7.3% |
| Arcbest Corp | New | +71,000 | +$5.47M | 3.5% |
| AS Arcelormittal Sa Luxembourg | Added | +166,879 | +$5.28M | 3.7% |
| Buckle Inc | Trimmed | −75,042 | −$3.4M | 10.2% |
| United Parcel Service | New | +33,000 | +$3.33M | 2.1% |
| Tronox Holdings PLC | Added | +591,300 | +$3M | 2.1% |
| Newmont Corp | Trimmed | −45,000 | −$2.62M | 0.7% |
Showing the 10 largest of 28 changes.
quarter ended March 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Teck Resources Ltd | New | +434,000 | +$15.8M | 12.1% |
| Arcbest Corp | Exited | −107,000 | −$9.99M | — |
| Alcoa Corp | Exited | −177,800 | −$6.72M | — |
| Tronox Holdings PLC | New | +910,000 | +$6.41M | 4.9% |
| Abercrombie & Fitch Co | Added | +79,883 | +$6.1M | 6.7% |
| S Schlumberger Ltd | Trimmed | −145,000 | −$6.06M | 0.8% |
| Huntsman Corp | New | +321,782 | +$5.45M | 4.2% |
| Buckle Inc | Added | +116,833 | +$4.48M | 12.7% |
| CA Century Alum Co | Added | +234,673 | +$4.36M | 13.3% |
| QH Quaker Houghton | Exited | −23,000 | −$3.24M | — |
Showing the 10 largest of 24 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AS Academy Sports & Outdoors Inc | New | +360,000 | +$20.7M | 16.7% |
| DS Direxion Shs ETF Tr Oil Gas Bl 2x Sh | Exited | −250,654 | −$7.07M | — |
| Arcbest Corp | Added | +73,000 | +$6.81M | 8.1% |
| Ero Copper Corp | Trimmed | −470,545 | −$6.34M | 19.0% |
| American Eagle Outfitters Inc | Exited | −260,000 | −$5.82M | — |
| Exxon Mobil Corp | Exited | −45,100 | −$5.29M | — |
| Abercrombie & Fitch Co | New | +34,000 | +$5.08M | 4.1% |
| Rio Tinto PLC | Exited | −59,800 | −$4.26M | — |
| Liberty Energy Inc | Trimmed | −203,439 | −$4.05M | 2.4% |
| CA Century Alum Co | Trimmed | −206,519 | −$3.76M | 10.3% |
Showing the 10 largest of 20 changes.
quarter ended September 30, 2024 · filed November 15, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Ero Copper Corp | Added | +248,390 | +$7.39M | 40.0% |
| Alcoa Corp | New | +165,000 | +$6.37M | 3.9% |
| S Schlumberger Ltd | New | +144,000 | +$6.04M | 3.7% |
| Buckle Inc | Added | +110,273 | +$4.85M | 9.8% |
| Rio Tinto PLC | New | +59,800 | +$4.26M | 2.6% |
| AS Academy Sports & Outdoors Inc | Exited | −70,000 | −$3.73M | — |
| EG Expedia Group Inc Com New | Exited | −26,500 | −$3.34M | — |
| LE Liberty Energy Inc Com Cl A | Added | +165,000 | +$3.15M | 4.1% |
| Exxon Mobil Corp | Added | +22,600 | +$2.65M | 3.2% |
| Sturm Ruger & Co Inc | Exited | −53,500 | −$2.23M | — |
Showing the 10 largest of 20 changes.
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