Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (19 quarters reported)
$137M in Q4 2021 → $187M 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 |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | 20.8% | Added 1.9% | 51,888 | $38.8M |
| UN United Nat Foods Inc | 12.1% | Unchanged | 494,371 | $22.6M |
| Howard Hughes Holdings Inc | 12.0% | Added 34% | 314,100 | $22.5M |
| Fidelity National Financial | 9.5% | Unchanged | 376,527 | $17.8M |
| RR Red Robin Gourmet Burgers In | 8.2% | Added 2.2% | 1,912,614 | $15.3M |
| BH Berkshire Hathaway Inc Del | 7.0% | Added 294% | 26,324 | $13.2M |
| Ameresco Inc | 5.0% | New | 339,000 | $9.36M |
| AI Abm Inds Inc | 3.3% | New | 140,728 | $6.23M |
| Joint Corp | 2.8% | Unchanged | 593,906 | $5.21M |
| KM Kinder Morgan Inc Del | 2.4% | Trimmed 50% | 139,731 | $4.47M |
| Mcdonalds Corp | 2.1% | Added 25% | 14,800 | $4M |
| GH Generac Hldgs Inc | 2.0% | Trimmed 67% | 12,710 | $3.72M |
| Futurecrest Acquisition Corp | 1.8% | Unchanged | 330,677 | $3.46M |
| OC Owens Corning New | 1.7% | New | 20,000 | $3.18M |
| Janus Henderson Group PLC | 1.7% | Added 114% | 60,000 | $3.12M |
| Whitestone REIT | 1.2% | New | 114,881 | $2.18M |
| Tandy Leather Factory Inc | 1.1% | Unchanged | 876,059 | $2.04M |
| Harley Davidson Inc | 1.1% | New | 83,030 | $2.03M |
| JP Jakks Pac Inc | 1.0% | New | 76,598 | $1.78M |
| Doordash Inc | 0.9% | Added 45% | 9,600 | $1.77M |
| Global Business Travel Group | 0.8% | New | 150,000 | $1.41M |
| Sun Life Financial Inc. | 0.5% | Trimmed 1.9% | 12,520 | $982K |
| BI Barnwell Inds Inc | 0.4% | Added 77% | 724,547 | $732K |
| Kroger Co | 0.4% | Unchanged | 12,293 | $683K |
| VI Vanguard Index Fds | 0.3% | Unchanged | 1,560 | $577K |
| Rice Acquisition Corp 3 | 0.1% | New | 10,000 | $107K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Sempra | Exited | −106,400 | −$10.4M | — |
| BH Berkshire Hathaway Inc Del | Added | +19,649 | +$9.83M | 7.0% |
| Ameresco Inc | New | +339,000 | +$9.36M | 5.0% |
| GH Generac Hldgs Inc | Trimmed | −25,800 | −$7.55M | 2.0% |
| AI Abm Inds Inc | New | +140,728 | +$6.23M | 3.3% |
| Howard Hughes Holdings Inc | Added | +80,000 | +$5.72M | 12.0% |
| KM Kinder Morgan Inc Del | Trimmed | −139,508 | −$4.46M | 2.4% |
| OC Owens Corning New | New | +20,000 | +$3.18M | 1.7% |
| AL Air Lease Corp | Exited | −40,000 | −$2.6M | — |
| Whitestone REIT | New | +114,881 | +$2.18M | 1.2% |
Showing the 10 largest of 25 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Ncr Atleos Corporation | Exited | −288,602 | −$11M | — |
| SS SPDR S&P 500 ETF Tr | Added | +15,949 | +$10.4M | 22.1% |
| Sempra | New | +106,400 | +$10.4M | 6.9% |
| HE Hawaiian Elec Industries | Exited | −425,000 | −$5.23M | — |
| Mcdonalds Corp | New | +11,800 | +$3.67M | 2.4% |
| Howard Hughes Holdings Inc | Added | +53,000 | +$3.35M | 9.9% |
| GH Generac Hldgs Inc | Added | +16,510 | +$3.22M | 5.0% |
| BH Berkshire Hathaway Inc Del | New | +6,675 | +$3.2M | 2.1% |
| BR Bjs Restaurants Inc | Trimmed | −77,557 | −$2.72M | 1.1% |
| AL Air Lease Corp | New | +40,000 | +$2.6M | 1.7% |
Showing the 10 largest of 21 changes.
quarter ended December 31, 2025 · filed February 18, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| GH Generac Hldgs Inc | Trimmed | −104,589 | −$14.3M | 2.4% |
| Howard Hughes Holdings Inc | Added | +171,100 | +$13.6M | 11.4% |
| Murphy Usa Inc | Exited | −27,886 | −$10.8M | — |
| D Dennys Corp | Exited | −829,491 | −$4.34M | — |
| Futurecrest Acquisition Corp | Added | +230,677 | +$2.36M | 2.7% |
| DG Dollar Gen Corp New | Exited | −19,935 | −$2.06M | — |
| Ncr Atleos Corporation | Added | +28,500 | +$1.09M | 8.7% |
| HE Hawaiian Elec Industries | Added | +65,000 | +$800K | 4.1% |
| Kroger Co | Trimmed | −11,007 | −$688K | 0.8% |
| F&G Annuities & Life Inc | New | +20,489 | +$632K | 0.5% |
Showing the 10 largest of 18 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| RB Restaurant Brands Intl Inc | Exited | −290,438 | −$19.3M | — |
| DG Dollar Gen Corp New | Trimmed | −147,000 | −$15.2M | 1.4% |
| Dominos Pizza Inc | Exited | −29,417 | −$13.3M | — |
| BH Berkshire Hathaway Inc Del | Exited | −25,378 | −$12.3M | — |
| Murphy Usa Inc | New | +27,886 | +$10.8M | 7.1% |
| Ncr Atleos Corporation | New | +260,102 | +$10.2M | 6.7% |
| WC Wendys Co | Exited | −756,927 | −$8.64M | — |
| FN Fidelity National Finanfial | Added | +135,355 | +$8.19M | 13.7% |
| KM Kinder Morgan Inc Del | New | +287,483 | +$8.14M | 5.3% |
| Markel Group Inc | Exited | −2,590 | −$5.17M | — |
Showing the 10 largest of 23 changes.
quarter ended June 30, 2025 · filed August 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| DG Dollar Gen Corp New | New | +166,935 | +$19.1M | 11.0% |
| Markel Group Inc | Trimmed | −6,845 | −$13.7M | 3.0% |
| Kroger Co | Exited | −170,100 | −$11.5M | — |
| ET Energy Transfer L P | Trimmed | −570,564 | −$10.3M | 1.2% |
| GH Generac Hldgs Inc | Added | +68,787 | +$9.85M | 11.1% |
| WC Wendys Co | New | +756,927 | +$8.64M | 5.0% |
| CP Crh PLC | Exited | −91,079 | −$8.02M | — |
| United Parks & Resorts Inc | Exited | −146,800 | −$6.67M | — |
| BR Bjs Restaurants Inc | New | +125,000 | +$5.58M | 3.2% |
| Joint Corp | New | +478,844 | +$5.53M | 3.2% |
Showing the 10 largest of 18 changes.
quarter ended March 31, 2025 · filed May 09, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Cheesecake Factory Inc | Exited | −667,210 | −$31.7M | — |
| Dominos Pizza Inc | New | +27,000 | +$12.4M | 7.7% |
| FN Fidelity National Finanfial | New | +180,100 | +$11.7M | 7.2% |
| GH Generac Hldgs Inc | New | +65,000 | +$8.23M | 5.1% |
| Alico Inc | Exited | −217,091 | −$5.63M | — |
| RB Restaurant Brands Intl Inc | Added | +70,000 | +$4.68M | 9.9% |
| PP Par Pac Holdings Inc | Exited | −247,943 | −$4.06M | — |
| CP Crh PLC | Trimmed | −38,750 | −$3.41M | 4.9% |
| United Parks & Resorts Inc | Added | +47,000 | +$2.14M | 4.1% |
| BH Berkshire Hathaway Inc Del | Trimmed | −1,000 | −$533K | 8.3% |
Showing the 10 largest of 15 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Cheesecake Factory Inc | Added | +430,000 | +$20.4M | 18.7% |
| Markel Group Inc | New | +9,385 | +$16.2M | 9.5% |
| RR Red Robin Gourmet Burgers In | Added | +1,373,077 | +$7.54M | 6.0% |
| United Parks & Resorts Inc | New | +99,800 | +$5.61M | 3.3% |
| Xponential Fitness Inc | Exited | −446,830 | −$5.54M | — |
| Expedia Group Inc | Exited | −37,000 | −$5.48M | — |
| CP Crh PLC | Trimmed | −13,000 | −$1.2M | 7.1% |
| RB Restaurant Brands Intl Inc | Added | +12,600 | +$824K | 6.5% |
| Alico Inc | Added | +30,000 | +$778K | 3.3% |
| Kroger Co | Added | +5,200 | +$318K | 6.2% |
Showing the 10 largest of 14 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| ET Energy Transfer L P | New | +677,000 | +$10.9M | 9.0% |
| Kroger Co | New | +166,300 | +$9.53M | 7.9% |
| Markel Group Inc | Exited | −5,706 | −$8.99M | — |
| Lamar Advertising Co New | Exited | −74,000 | −$8.85M | — |
| Expedia Group Inc | New | +37,000 | +$5.48M | 4.5% |
| Alico Inc | New | +187,091 | +$5.23M | 4.3% |
| PP Par Pac Holdings Inc | New | +247,943 | +$4.36M | 3.6% |
| Cheesecake Factory Inc | Added | +106,151 | +$4.3M | 8.0% |
| Xponential Fitness Inc | Added | +195,855 | +$2.43M | 4.6% |
| RR Red Robin Gourmet Burgers In | New | +487,591 | +$2.15M | 1.8% |
Showing the 10 largest of 15 changes.
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