Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$505M in Q2 2013 → $489M 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 |
|---|---|---|---|---|
| ET Energy Transfer L P | 8.6% | Unchanged | 2,188,737 | $41.8M |
| WM Western Midstream Partners L | 8.2% | Unchanged | 914,525 | $40M |
| EP Enterprise Prods Partners L | 7.8% | Unchanged | 1,031,154 | $37.9M |
| Mplx LP | 6.7% | Unchanged | 579,453 | $32.6M |
| PA Plains All Amern Pipeline L | 5.6% | Unchanged | 1,230,349 | $27.4M |
| Hess Midstream LP | 4.4% | Unchanged | 570,158 | $21.4M |
| CN Comcast Corp New | 3.0% | Added 9.1% | 601,895 | $14.8M |
| Verizon Communications Inc | 2.7% | Unchanged | 312,614 | $13.2M |
| Blackstone Inc | 2.6% | Unchanged | 110,072 | $13M |
| AP Air Products And Chemicals I | 2.1% | Trimmed 0.2% | 35,346 | $10.4M |
| IT Ishares Tr | 1.9% | Added 27% | 192,939 | $9.53M |
| Kraft Heinz Co | 1.8% | Unchanged | 372,872 | $8.81M |
| CE Cheniere Energy Partners L P | 1.6% | Unchanged | 131,752 | $8.03M |
| Pfizer Inc | 1.5% | Unchanged | 301,435 | $7.26M |
| EG Easterly Govt Pptys Inc | 1.4% | Unchanged | 281,503 | $7.02M |
| UP United Parcel Svcs Inc | 1.4% | Added 11% | 64,882 | $6.97M |
| WU Western Un Co | 1.4% | New | 869,891 | $6.7M |
| Sentinelone Inc | 1.3% | New | 385,500 | $6.54M |
| DW Disney Walt Co | 1.3% | Added 7.3% | 66,639 | $6.41M |
| Bristol-myers Squibb Co | 1.2% | Unchanged | 100,282 | $5.78M |
| BM Blackstone Mortgage Trust In | 1.1% | Unchanged | 320,000 | $5.42M |
| Boeing Co | 1.0% | Unchanged | 22,861 | $4.95M |
| Microsoft Corp | 0.9% | Added 0.2% | 11,970 | $4.47M |
| Vail Resorts Inc | 0.9% | Unchanged | 32,000 | $4.36M |
| PI Ppg Inds Inc | 0.8% | Unchanged | 33,773 | $4.1M |
| Weyerhaeuser Co | 0.7% | Added 9.1% | 149,517 | $3.58M |
| Americold Realty Trust Inc | 0.7% | Unchanged | 208,735 | $3.28M |
| Icici Bank Limited | 0.7% | Trimmed 4.4% | 110,004 | $3.19M |
| Public Storage | 0.7% | Trimmed 25% | 9,997 | $3.18M |
| American Tower Corp | 0.6% | Unchanged | 18,763 | $3.07M |
| Hdfc Bank Ltd | 0.6% | Added 4.1% | 114,812 | $2.97M |
| SS SPDR Series Trust | 0.6% | Unchanged | 118,150 | $2.96M |
| Home Depot Inc | 0.6% | Added 12% | 7,882 | $2.78M |
| Sap Se | 0.6% | Unchanged | 17,840 | $2.75M |
| Ambev Sa | 0.5% | Trimmed 25% | 852,729 | $2.68M |
| WM Waste Mgmt Inc Del | 0.5% | Added 55% | 11,763 | $2.62M |
| Adobe Inc | 0.5% | Trimmed 0.1% | 12,646 | $2.59M |
| Wells Fargo & Co | 0.5% | Added 28% | 30,878 | $2.55M |
| Sea Ltd | 0.5% | Unchanged | 25,243 | $2.42M |
| Ultrapar Participacoes Sa | 0.5% | Trimmed 13% | 465,411 | $2.34M |
| Procter & Gamble Co | 0.5% | Unchanged | 15,920 | $2.33M |
| Blackrock Inc | 0.5% | Added 0.1% | 2,358 | $2.27M |
| M Mcdonalds Corp | 0.4% | Added 259% | 8,137 | $2.2M |
| Abbott Laboratories | 0.4% | Added 16% | 24,050 | $2.18M |
| CO Capital One Finl Corp | 0.4% | Unchanged | 10,406 | $2.09M |
| BO Bank Of Amer Corp | 0.4% | Unchanged | 36,347 | $2.07M |
| Medtronic PLC | 0.4% | Added 201% | 26,384 | $2.06M |
| Jpmorgan Chase & Co | 0.4% | Unchanged | 6,281 | $2.06M |
| UB Us Bancorp | 0.4% | Added 27% | 33,295 | $2.01M |
| Citigroup Inc | 0.4% | Unchanged | 14,317 | $2M |
| Telefonica Brasil Sa | 0.4% | Trimmed 13% | 151,345 | $1.99M |
| AI American Intl Group Inc | 0.4% | Unchanged | 26,216 | $1.95M |
| Rtx Corporation | 0.4% | Added 176% | 10,057 | $1.91M |
| EE Emerson Elec Co | 0.4% | Added 26% | 13,045 | $1.87M |
| M& Marsh & Mclennan Cos Inc | 0.4% | Added 26% | 11,106 | $1.85M |
| Kimberly-clark Corp | 0.3% | New | 15,538 | $1.71M |
| Northrop Grumman Corp | 0.3% | Added 201% | 3,268 | $1.66M |
| JN Jbs N.v. | 0.3% | Trimmed 13% | 140,289 | $1.66M |
| IU Itau Unibanco Hldg S A | 0.3% | Trimmed 13% | 203,311 | $1.66M |
| PB Petroleo Brasileiro S A | 0.3% | Trimmed 13% | 102,754 | $1.66M |
Showing top 60 of 244 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 06, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| WU Western Un Co | New | +869,891 | +$6.7M | 1.4% |
| Sentinelone Inc | New | +385,500 | +$6.54M | 1.3% |
| Qualcomm Inc | Exited | −46,299 | −$5.96M | — |
| TI Texas Instrs Inc | Trimmed | −8,625 | −$2.57M | — |
| CS Cisco Sys Inc | Trimmed | −19,682 | −$2.31M | — |
| IT Ishares Tr | Added | +41,320 | +$2.04M | 1.9% |
| Oracle Corp | Trimmed | −12,358 | −$1.81M | — |
| Kimberly-clark Corp | New | +15,538 | +$1.71M | 0.3% |
| Dell Technologies Inc | Exited | −10,326 | −$1.69M | — |
| M Mcdonalds Corp | Added | +5,868 | +$1.59M | 0.4% |
Showing the 10 largest of 127 changes.
quarter ended March 31, 2026 · filed May 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| EP Enterprise Prods Partners L | Trimmed | −556,142 | −$21M | 8.1% |
| ET Energy Transfer L P | Trimmed | −839,496 | −$16.2M | 8.8% |
| CN Canadian Nat Res Ltd | Exited | −464,721 | −$15.7M | — |
| Blackstone Inc | Added | +101,251 | +$11.6M | 2.6% |
| Mplx LP | Trimmed | −187,076 | −$10.7M | 6.9% |
| PA Plains All Amern Pipeline L | Trimmed | −364,091 | −$8.13M | 5.7% |
| CN Comcast Corp New | Added | +279,340 | +$8.02M | 3.3% |
| Kraft Heinz Co | Added | +343,996 | +$7.74M | 1.7% |
| AP Air Products And Chemicals I | Added | +26,019 | +$7.56M | 2.1% |
| WM Western Midstream Partners L | Trimmed | −174,994 | −$7.2M | 7.8% |
Showing the 10 largest of 175 changes.
quarter ended December 31, 2025 · filed February 11, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| ET Energy Transfer L P | Added | +1,090,165 | +$18M | 11.3% |
| Newmont Corp | Exited | −95,714 | −$8.07M | — |
| Verizon Communications Inc | Added | +185,003 | +$7.54M | 2.0% |
| Alphabet Inc | Trimmed | −22,853 | −$7.17M | — |
| CN Comcast Corp New | Added | +237,149 | +$7.09M | 1.8% |
| CN Canadian Nat Res Ltd | Trimmed | −207,000 | −$7.01M | 3.5% |
| Hess Midstream LP | Added | +179,394 | +$6.19M | 4.1% |
| PA Plains All Amern Pipeline L | Added | +281,609 | +$5.06M | 6.5% |
| AH Asml Holding N V | Exited | −5,000 | −$4.84M | — |
| Amazon Com Inc | Trimmed | −18,102 | −$4.18M | — |
Showing the 10 largest of 153 changes.
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AH Asml Holding N V | New | +5,000 | +$4.84M | 1.1% |
| Astrazeneca PLC | New | +49,765 | +$3.82M | 0.9% |
| Newmont Corp | Trimmed | −41,000 | −$3.46M | 1.9% |
| Alphabet Inc | Added | +10,812 | +$2.63M | 1.3% |
| Amazon Com Inc | Added | +7,700 | +$1.69M | 0.9% |
| Icici Bank Limited | Added | +44,735 | +$1.35M | 0.6% |
| Hdfc Bank Ltd | Added | +37,208 | +$1.27M | 0.6% |
| JN Jbs N.v. | Added | +82,705 | +$1.23M | 0.7% |
| NA Novo-nordisk A S | Added | +21,543 | +$1.2M | 0.7% |
| Unitedhealth Group Inc | Added | +3,449 | +$1.19M | 0.4% |
Showing the 10 largest of 169 changes.
quarter ended June 30, 2025 · filed August 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CN Canadian Nat Res Ltd | New | +671,721 | +$21.1M | 5.2% |
| Newmont Corp | Trimmed | −136,719 | −$7.97M | 2.0% |
| EG Easterly Govt Pptys Inc | Exited | −703,758 | −$7.46M | — |
| Ambev Sa | Trimmed | −3,015,477 | −$7.27M | 0.6% |
| Altria Group Inc | Trimmed | −116,999 | −$6.86M | 0.2% |
| UN Ugi Corp New | Exited | −196,533 | −$6.5M | — |
| EG Easterly Govt Pptys Inc | New | +281,503 | +$6.25M | 1.5% |
| Verizon Communications Inc | Trimmed | −137,436 | −$5.95M | 0.3% |
| Bristol-myers Squibb Co | Added | +128,038 | +$5.93M | 1.7% |
| EP Enterprise Prods Partners L | Trimmed | −170,468 | −$5.29M | 11.7% |
Showing the 10 largest of 135 changes.
quarter ended March 31, 2025 · filed May 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| WM Western Midstream Partners L | Added | +468,303 | +$19.2M | 9.8% |
| ET Energy Transfer L P | Trimmed | −914,050 | −$17M | 8.8% |
| Bristol-myers Squibb Co | Trimmed | −127,573 | −$7.78M | 0.3% |
| UN Ugi Corp New | Trimmed | −199,154 | −$6.59M | 1.6% |
| EG Easterly Govt Pptys Inc | Added | +594,449 | +$6.3M | 1.8% |
| Enbridge Inc | Exited | −120,753 | −$5.12M | — |
| EP Enterprise Prods Partners L | Trimmed | −73,574 | −$2.51M | 14.1% |
| SS SPDR Ser Tr | Added | +75,400 | +$1.9M | 0.7% |
| Verizon Communications Inc | Trimmed | −37,472 | −$1.7M | 1.8% |
| Altria Group Inc | Trimmed | −19,198 | −$1.15M | 1.9% |
Showing the 10 largest of 183 changes.
quarter ended December 31, 2024 · filed February 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SG Southwest Gas Hldgs Inc | Exited | −171,000 | −$12.6M | — |
| Enbridge Inc | Trimmed | −221,247 | −$9.39M | 1.3% |
| BM Blackstone Mtg Tr Inc | New | +320,000 | +$5.57M | 1.4% |
| WM Western Midstream Partners L | Added | +104,201 | +$4M | 5.1% |
| ET Energy Transfer L P | Trimmed | −104,766 | −$2.05M | 14.4% |
| EP Enterprise Prods Partners L | Trimmed | −61,576 | −$1.93M | 14.3% |
| Newmont Corp | Added | +38,276 | +$1.42M | 2.6% |
| EG Easterly Govt Pptys Inc | New | +109,309 | +$1.24M | 0.3% |
| Altria Group Inc | Added | +23,505 | +$1.23M | 2.0% |
| DR Dr Reddys Labs Ltd | Added | +44,876 | +$709K | 0.2% |
Showing the 10 largest of 190 changes.
quarter ended September 30, 2024 · filed November 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| ET Energy Transfer L P | Trimmed | −387,046 | −$6.21M | 11.9% |
| EP Enterprise Prods Partners L | Trimmed | −207,587 | −$6.04M | 13.3% |
| Mplx LP | Trimmed | −100,335 | −$4.46M | 8.5% |
| PA Plains All Amern Pipeline L | Trimmed | −171,845 | −$2.98M | 5.7% |
| Intel Corp | Added | +123,700 | +$2.9M | 1.2% |
| SS SPDR Ser Tr | Trimmed | −42,750 | −$1.1M | 0.3% |
| Infosys Ltd | Trimmed | −41,605 | −$927K | 0.8% |
| Lockheed Martin Corp | Trimmed | −1,186 | −$693K | 0.1% |
| Qualcomm Inc | New | +3,994 | +$679K | 0.2% |
| 3m Co | Trimmed | −4,386 | −$600K | 0.1% |
Showing the 10 largest of 159 changes.
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