Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (12 quarters reported)
$1.4B in Q3 2023 → $1.9B 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 |
|---|---|---|---|---|
| MS Mercury Sys Inc | 25.5% | Trimmed 3.6% | 3,958,849 | $484M |
| CC Cooper Cos Inc | 13.5% | Added 0.5% | 3,582,480 | $257M |
| SS State Str SPDR S&P 500 ETF T | 13.5% | Trimmed 0.2% | 342,965 | $256M |
| LW Lamb Weston Hldgs Inc | 12.2% | Added 7.7% | 5,394,635 | $233M |
| Fiserv Inc | 9.4% | Trimmed 17% | 3,662,080 | $180M |
| Markel Group Inc | 7.9% | Added 1.9% | 76,743 | $150M |
| Alkami Technology Inc | 6.4% | Added 24% | 6,747,707 | $122M |
| SF Six Flags Entertainment Corp | 4.6% | Unchanged | 4,116,099 | $87.7M |
| Everpure Inc | 4.1% | Trimmed 5.1% | 989,196 | $77.9M |
| Rapid7 Inc | 2.9% | Added 0.1% | 6,749,936 | $54.7M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Fiserv Inc | Trimmed | −773,525 | −$37.9M | 9.4% |
| Enhabit Inc | Exited | −2,090,412 | −$29.5M | — |
| Alkami Technology Inc | Added | +1,316,319 | +$23.9M | 6.4% |
| MS Mercury Sys Inc | Trimmed | −148,575 | −$18.2M | 25.5% |
| LW Lamb Weston Hldgs Inc | Added | +386,000 | +$16.7M | 12.2% |
| Everpure Inc | Trimmed | −53,100 | −$4.18M | 4.1% |
| Markel Group Inc | Added | +1,436 | +$2.8M | 7.9% |
| CC Cooper Cos Inc | Added | +17,322 | +$1.24M | 13.5% |
| SS State Str SPDR S&P 500 ETF T | Trimmed | −700 | −$523K | 13.5% |
| Rapid7 Inc | Added | +6,283 | +$50.9K | 2.9% |
quarter ended March 31, 2026 · filed June 30, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Treehouse Foods Inc | Exited | −5,821,337 | −$137M | — |
| Fiserv Inc | Added | +2,190,085 | +$122M | 14.8% |
| MS Mercury Sys Inc | Trimmed | −852,057 | −$62.1M | 18.0% |
| Everpure Inc | New | +1,042,296 | +$61.5M | 3.7% |
| Freshpet Inc | Exited | −557,390 | −$34M | — |
| SS State Str SPDR S&P 500 ETF T | Trimmed | −47,672 | −$31M | 13.4% |
| Markel Group Inc | Trimmed | −5,912 | −$11.3M | 8.6% |
| Alkami Technology Inc | Added | +536,723 | +$8.41M | 5.1% |
| CC Cooper Cos Inc | Added | +45,538 | +$3.26M | 15.3% |
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Trimble Inc | Exited | −1,881,399 | −$154M | — |
| Fiserv Inc | New | +2,245,520 | +$151M | 7.8% |
| Markel Group Inc | Trimmed | −66,192 | −$142M | 9.1% |
| CC Cooper Cos Inc | Added | +1,085,013 | +$88.9M | 15.0% |
| MS Mercury Sys Inc | Trimmed | −1,000,000 | −$73M | 18.8% |
| Alkami Technology Inc | Added | +3,002,252 | +$69.3M | 5.9% |
| Freshpet Inc | Trimmed | −490,746 | −$29.9M | 1.8% |
| Rapid7 Inc | Added | +241,545 | +$3.67M | 5.3% |
| SS SPDR S&P 500 ETF Tr | Added | +4,700 | +$3.21M | 13.9% |
| SF Six Flags Entertainment Corp | Added | +66,159 | +$1.01M | 3.3% |
Showing the 10 largest of 11 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CC Cooper Cos Inc | New | +2,434,607 | +$167M | 8.1% |
| Trimble Inc | Trimmed | −1,727,498 | −$141M | 7.4% |
| LW Lamb Weston Hldgs Inc | Trimmed | −2,223,584 | −$129M | 14.1% |
| SF Six Flags Entertainment Corp | New | +4,049,940 | +$92M | 4.5% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −126,416 | −$84.2M | 12.5% |
| MS Mercury Sys Inc | Trimmed | −793,932 | −$61.5M | 22.3% |
| Alkami Technology Inc | New | +1,892,413 | +$47M | 2.3% |
| Wex Inc | Exited | −164,029 | −$24.1M | — |
| Rapid7 Inc | Added | +772,194 | +$14.5M | 5.9% |
| Markel Group Inc | Trimmed | −4,021 | −$7.69M | 13.6% |
Showing the 10 largest of 11 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| LW Lamb Weston Hldgs Inc | Trimmed | −753,207 | −$39.1M | 18.8% |
| Rapid7 Inc | Added | +1,623,858 | +$37.6M | 6.7% |
| FN Fidelity Natl Information Sv | Exited | −496,895 | −$37.1M | — |
| Trimble Inc | Trimmed | −336,330 | −$25.6M | 13.8% |
| Wex Inc | New | +164,029 | +$24.1M | 1.2% |
| Freshpet Inc | Added | +272,000 | +$18.5M | 3.4% |
| Treehouse Foods Inc | Added | +910,387 | +$17.7M | 5.7% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −27,300 | −$16.9M | 15.9% |
| MS Mercury Sys Inc | Trimmed | −188,152 | −$10.1M | 18.3% |
| Markel Group Inc | Trimmed | −4,590 | −$9.17M | 15.2% |
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Markel Group Inc | Exited | −69,000 | −$119M | — |
| Markel Group Inc | Added | +47,096 | +$88.1M | 15.1% |
| SS SPDR S&P 500 ETF Tr | Added | +111,090 | +$62.1M | 15.6% |
| Freshpet Inc | New | +734,763 | +$61.1M | 3.2% |
| LW Lamb Weston Hldgs Inc | Added | +854,087 | +$45.5M | 22.0% |
| Wolfspeed Inc | Exited | −4,988,216 | −$33.2M | — |
| Trimble Inc | Trimmed | −232,861 | −$15.3M | 13.4% |
| Rapid7 Inc | Added | +415,927 | +$11M | 5.6% |
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| LW Lamb Weston Hldgs Inc | Added | +3,604,585 | +$241M | 23.4% |
| Markel Group Inc | New | +108,926 | +$188M | 9.2% |
| LW Lamb Weston Hldgs Inc | Exited | −2,302,000 | −$149M | — |
| FC Frontier Communications Pare | Exited | −3,910,213 | −$139M | — |
| Markel Group Inc | New | +69,000 | +$119M | 5.9% |
| FN Fidelity Natl Information Sv | Trimmed | −1,090,034 | −$88M | 2.0% |
| Trimble Inc | Trimmed | −702,856 | −$49.7M | 14.5% |
| SS SPDR S&P 500 ETF Tr | Trimmed | −49,700 | −$29.1M | 12.4% |
| FH Fortrea Hldgs Inc | Exited | −692,408 | −$13.8M | — |
| Wolfspeed Inc | Trimmed | −1,177,717 | −$7.84M | 1.6% |
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 |
|---|---|---|---|---|
| LW Lamb Weston Hldgs Inc | New | +3,526,754 | +$228M | 11.9% |
| FC Frontier Communications Pare | Trimmed | −5,667,520 | −$201M | 7.2% |
| LW Lamb Weston Hldgs Inc | New | +2,302,000 | +$149M | 7.7% |
| FN Fidelity Natl Information Sv | Trimmed | −1,555,686 | −$130M | 6.9% |
| Blackline Inc | Exited | −1,154,435 | −$55.9M | — |
| Trimble Inc | Added | +703,400 | +$43.7M | 15.7% |
| Rapid7 Inc | Added | +931,154 | +$37.1M | 7.6% |
| Quidelortho Corp | Exited | −1,026,413 | −$34.1M | — |
| SS SPDR S&P 500 ETF Tr | Added | +40,030 | +$23M | 14.3% |
| MS Mercury Sys Inc | Added | +16,669 | +$617K | 13.3% |
Showing the 10 largest of 12 changes.
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