Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (47 quarters reported)
$375M in Q4 2014 → $182M 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 |
|---|---|---|---|---|
| TP Texas Pacific Land Corporati | 20.6% | Trimmed 0.7% | 85,631 | $37.5M |
| Natera Inc | 8.7% | Trimmed 9.2% | 58,503 | $15.9M |
| TS Taiwan Semiconductor Manufac | 7.2% | Added 0.4% | 27,520 | $13.1M |
| Alphabet Inc | 7.1% | Trimmed 2.6% | 36,375 | $12.9M |
| Advanced Micro Devices Inc | 5.7% | Added 55% | 17,825 | $10.4M |
| Arm Holdings PLC | 5.6% | Added 9.4% | 28,525 | $10.1M |
| Digimarc Corp | 5.2% | New | 1,140,450 | $9.37M |
| Xpo Inc | 4.7% | Trimmed 16% | 41,890 | $8.6M |
| Stereotaxis Inc | 3.9% | Trimmed 5.2% | 4,122,600 | $7.09M |
| RH Renaissancere Hldgs Ltd | 3.9% | Trimmed 1.7% | 22,235 | $7.05M |
| Gxo Logistics Incorporated | 3.6% | Added 0.0% | 129,310 | $6.56M |
| Transmedics Group Inc | 3.6% | Added 7.7% | 97,465 | $6.47M |
| Guardant Health Inc | 3.1% | Added 2.6% | 37,365 | $5.61M |
| Ptc Inc | 2.9% | Added 10% | 45,660 | $5.19M |
| Synopsys Inc | 2.6% | Added 13% | 10,626 | $4.74M |
| Ubiquiti Inc | 2.0% | Trimmed 26% | 6,646 | $3.55M |
| Qxo Inc | 1.9% | Added 163% | 203,675 | $3.52M |
| PM Profound Med Corp | 1.8% | Added 14% | 501,325 | $3.33M |
| Mastercard Incorporated | 1.3% | Trimmed 6.7% | 4,735 | $2.43M |
| HN Heico Corp New | 1.2% | Added 2.6% | 6,000 | $2.14M |
| Volitionrx Ltd | 1.1% | New | 1,455,950 | $1.97M |
| Trupanion Inc | 1.1% | Trimmed 20% | 79,050 | $1.96M |
| BH Berkshire Hathaway Inc Del | 1.0% | Unchanged | 3,670 | $1.84M |
| Microsoft Corp | 0.2% | Trimmed 2.3% | 1,075 | $401K |
| SG SPDR Gold Tr | 0.1% | Added 17% | 700 | $258K |
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 |
|---|---|---|---|---|
| Digimarc Corp | New | +1,140,450 | +$9.37M | 5.2% |
| DN Digimarc Corp New | Exited | −1,062,800 | −$5.22M | — |
| Advanced Micro Devices Inc | Added | +6,345 | +$3.69M | 5.7% |
| Volitionrx Ltd | Exited | −16,149,000 | −$3.26M | — |
| Qxo Inc | Added | +126,300 | +$2.18M | 1.9% |
| Volitionrx Ltd | New | +1,455,950 | +$1.97M | 1.1% |
| Natera Inc | Trimmed | −5,952 | −$1.62M | 8.7% |
| Xpo Inc | Trimmed | −7,810 | −$1.6M | 4.7% |
| Ubiquiti Inc | Trimmed | −2,309 | −$1.23M | 2.0% |
| Arm Holdings PLC | Added | +2,440 | +$865K | 5.6% |
Showing the 10 largest of 26 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TP Texas Pacific Land Corporati | Trimmed | −17,996 | −$8.54M | 25.2% |
| Trupanion Inc | Trimmed | −150,725 | −$3.86M | 1.6% |
| Xpo Inc | Trimmed | −18,965 | −$3.69M | 6.0% |
| Natera Inc | Trimmed | −14,895 | −$2.98M | 7.9% |
| PM Profound Med Corp | New | +441,015 | +$2.86M | 1.8% |
| Alphabet Inc | Trimmed | −8,735 | −$2.51M | 6.6% |
| Advanced Micro Devices Inc | New | +11,480 | +$2.34M | 1.4% |
| Ubiquiti Inc | Trimmed | −2,865 | −$2.26M | 4.4% |
| DN Digimarc Corp New | Added | +368,355 | +$1.81M | 3.2% |
| Qxo Inc | New | +77,375 | +$1.5M | 0.9% |
Showing the 10 largest of 28 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TP Texas Pacific Land Corporati | Added | +70,129 | +$20.1M | 17.3% |
| Synopsys Inc | New | +8,752 | +$4.11M | 2.4% |
| Guardant Health Inc | New | +31,505 | +$3.22M | 1.9% |
| Natera Inc | Trimmed | −4,990 | −$1.14M | 10.5% |
| Arm Holdings PLC | Trimmed | −10,235 | −$1.12M | 1.8% |
| Ubiquiti Inc | Trimmed | −1,795 | −$993K | 3.8% |
| AG Alibaba Group Hldg Ltd | New | +5,508 | +$807K | 0.5% |
| Alphabet Inc | Added | +2,035 | +$639K | 8.4% |
| TS Taiwan Semiconductor Mfg Ltd | Trimmed | −1,625 | −$494K | 5.6% |
| Xpo Inc | Trimmed | −3,285 | −$446K | 5.4% |
Showing the 10 largest of 21 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Ubiquiti Inc | Trimmed | −5,725 | −$3.78M | 5.1% |
| BH Berkshire Hathaway Inc Del | Exited | −2 | −$1.46M | — |
| BH Berkshire Hathaway Inc Del | Added | +2,070 | +$1.04M | 1.1% |
| Arm Holdings PLC | Added | +4,545 | +$643K | 3.1% |
| Alphabet Inc | Added | +2,530 | +$616K | 6.1% |
| Xpo Inc | Trimmed | −4,675 | −$604K | 5.3% |
| Gxo Logistics Incorporated | Added | +11,370 | +$601K | 4.5% |
| Ptc Inc | Trimmed | −2,825 | −$574K | 5.9% |
| Volitionrx Ltd | Added | +782,000 | +$531K | 4.8% |
| Transmedics Group Inc | Added | +3,625 | +$407K | 6.9% |
Showing the 10 largest of 21 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Arm Holdings PLC | New | +34,125 | +$5.52M | 3.1% |
| Alphabet Inc | Trimmed | −12,767 | −$2.26M | 4.2% |
| Natera Inc | Trimmed | −9,050 | −$1.53M | 8.1% |
| Rxo Inc | Exited | −78,620 | −$1.5M | — |
| Energy Recovery Inc | Exited | −74,107 | −$1.18M | — |
| Volitionrx Ltd | Added | +1,511,000 | +$1.15M | 5.0% |
| Mastercard Incorporated | Added | +1,480 | +$832K | 1.8% |
| TS Taiwan Semiconductor Mfg Ltd | Trimmed | −3,597 | −$815K | 4.2% |
| DN Digimarc Corp New | Added | +49,750 | +$657K | 5.6% |
| Stereotaxis Inc | Added | +307,450 | +$652K | 5.6% |
Showing the 10 largest of 30 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Enstar Group Ltd | Trimmed | −6,525 | −$2.17M | 0.1% |
| Transmedics Group Inc | Added | +27,950 | +$1.88M | 4.4% |
| Energy Recovery Inc | Trimmed | −116,663 | −$1.85M | 0.8% |
| Volitionrx Ltd | Added | +2,618,000 | +$1.49M | 3.7% |
| Rxo Inc | Trimmed | −73,125 | −$1.4M | 1.0% |
| Eaton Corp PLC | Trimmed | −4,640 | −$1.26M | — |
| St Joe Co | Trimmed | −23,700 | −$1.11M | — |
| DN Digimarc Corp New | Added | +65,400 | +$838K | 5.7% |
| TP Texas Pacific Land Corporati | Trimmed | −599 | −$794K | 28.4% |
| Natera Inc | Trimmed | −3,863 | −$546K | 8.4% |
Showing the 10 largest of 27 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TP Texas Pacific Land Corporati | Trimmed | −5,009 | −$5.54M | 20.5% |
| Enstar Group Limited | Trimmed | −8,818 | −$2.84M | 1.2% |
| Natera Inc | Trimmed | −16,972 | −$2.69M | 8.3% |
| Ubiquiti Inc | Trimmed | −4,552 | −$1.51M | 3.8% |
| DN Digimarc Corp New | Added | +39,750 | +$1.49M | 12.7% |
| Volitionrx Ltd | Added | +1,481,000 | +$889K | 2.5% |
| Ptc Inc | Trimmed | −3,745 | −$689K | 5.6% |
| Stereotaxis Inc | Added | +295,700 | +$674K | 5.1% |
| Mastercard Incorporated | Added | +1,260 | +$663K | 1.1% |
| Alphabet Inc | Added | +3,474 | +$662K | 5.6% |
Showing the 10 largest of 25 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TP Texas Pacific Land Corporati | Trimmed | −9,640 | −$8.53M | 20.0% |
| DN Digimarc Corp New | Trimmed | −105,925 | −$2.85M | 9.1% |
| TS Taiwan Semiconductor Mfg Ltd | Added | +15,688 | +$2.72M | 3.5% |
| Enstar Group Limited | Trimmed | −7,594 | −$2.44M | 2.9% |
| Natera Inc | Trimmed | −16,060 | −$2.04M | 8.3% |
| Energy Recovery Inc | Added | +101,665 | +$1.77M | 2.1% |
| Trupanion Inc | Trimmed | −33,130 | −$1.39M | 6.4% |
| Sitio Royalties Corp | Exited | −30,780 | −$727K | — |
| Volitionrx Ltd | Added | +657,000 | +$395K | 2.1% |
| Eaton Corp PLC | Added | +1,150 | +$381K | 0.6% |
Showing the 10 largest of 33 changes.
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