Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (19 quarters reported)
$5.06B in Q4 2021 → $926M 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 |
|---|---|---|---|---|
| Progressive Corp | 22.2% | Added 5.7% | 941,511 | $206M |
| AH Aercap Holdings Nv | 19.3% | Added 8.0% | 1,224,242 | $178M |
| Amazon Com Inc | 18.9% | Added 8.0% | 735,480 | $175M |
| Ferguson Enterprises Inc | 14.3% | Added 5.7% | 557,772 | $132M |
| Medline Inc | 10.4% | Unchanged | 2,441,379 | $96.3M |
| VM Vanguard Mun Bd Fds | 8.8% | Added 125% | 1,614,405 | $81.7M |
| Eqt Corp | 2.7% | Unchanged | 475,000 | $25.3M |
| Alphabet Inc | 1.5% | Trimmed 56% | 40,000 | $14.3M |
| Teck Resources Ltd | 0.8% | Trimmed 63% | 120,228 | $7.15M |
| Kyverna Therapeutics Inc | 0.6% | Unchanged | 614,477 | $5.47M |
| Garrett Motion Inc | 0.1% | Unchanged | 15,768 | $571K |
| Element Solutions Inc | 0.0% | Unchanged | 7,444 | $355K |
| Affiliated Managers Group | 0.0% | Unchanged | 894 | $303K |
| Amazon Com Inc Call | 0.0% | Trimmed 94% | 1,250 | $298K |
| Viemed Healthcare Inc | 0.0% | Unchanged | 23,384 | $267K |
| Saia Inc | 0.0% | Unchanged | 618 | $260K |
| LS Landstar Sys Inc | 0.0% | New | 1,136 | $235K |
| Rush Enterprises Inc | 0.0% | Unchanged | 3,199 | $233K |
| IB Installed Bldg Prods Inc | 0.0% | Unchanged | 1,000 | $230K |
| UM Unifirst Corp Mass | 0.0% | Unchanged | 854 | $226K |
| LH Lantheus Hldgs Inc | 0.0% | New | 2,017 | $224K |
| Frontdoor Inc | 0.0% | New | 2,811 | $218K |
| International Money Express | 0.0% | Unchanged | 14,179 | $205K |
| Adapthealth Corp | 0.0% | Unchanged | 18,132 | $189K |
| Hillman Solutions Corp | 0.0% | Unchanged | 21,650 | $183K |
| JI Janus International Group In | 0.0% | Unchanged | 19,808 | $110K |
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 |
|---|---|---|---|---|
| VM Vanguard Mun Bd Fds | Added | +895,872 | +$45.3M | 8.8% |
| Alphabet Inc | Trimmed | −50,000 | −$17.9M | 1.5% |
| AH Aercap Holdings Nv | Added | +90,885 | +$13.2M | 19.3% |
| Amazon Com Inc | Added | +54,200 | +$12.9M | 18.9% |
| Teck Resources Ltd | Trimmed | −203,000 | −$12.1M | 0.8% |
| Progressive Corp | Added | +50,953 | +$11.1M | 22.2% |
| Bunge Global Sa | Exited | −77,400 | −$9.85M | — |
| Ferguson Enterprises Inc | Added | +30,000 | +$7.12M | 14.3% |
| Amazon Com Inc | Trimmed | −18,750 | −$4.47M | — |
| Broadcom Inc | Exited | −10,000 | −$3.1M | — |
Showing the 10 largest of 13 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VT Vanguard Tax-managed Fds | Exited | −662,117 | −$41.4M | — |
| Amgen Inc | Exited | −60,824 | −$19.9M | — |
| Alphabet Inc | Trimmed | −67,986 | −$19.6M | 3.1% |
| Broadcom Inc | Trimmed | −54,841 | −$17M | 0.4% |
| Ferguson Enterprises Inc | Added | +60,000 | +$14M | 14.7% |
| Teck Resources Ltd | Trimmed | −240,000 | −$12.4M | 2.0% |
| Amazon Com Inc | Added | +45,401 | +$9.46M | 16.9% |
| Eqt Corp | Trimmed | −141,513 | −$9.01M | 3.6% |
| VM Vanguard Mun Bd Fds | Added | +160,200 | +$7.99M | 4.3% |
| Freeport-mcmoran Inc | Exited | −100,000 | −$5.08M | — |
Showing the 10 largest of 19 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Medline Inc | New | +2,441,379 | +$103M | 10.7% |
| Amazon Com Inc | Added | +196,700 | +$45.4M | 15.3% |
| Ferguson Enterprises Inc | Added | +175,000 | +$39M | 10.9% |
| VM Vanguard Mun Bd Fds | New | +558,333 | +$28.1M | 2.9% |
| Progressive Corp | Added | +120,000 | +$27.3M | 20.6% |
| Microsoft Corp | Exited | −50,939 | −$26.4M | — |
| Bunge Global Sa | Trimmed | −280,000 | −$24.9M | 0.9% |
| I Ishares Inc | Exited | −104,482 | −$8.38M | — |
| Freeport-mcmoran Inc | Trimmed | −121,678 | −$6.18M | 0.5% |
| Cameco Corp | Exited | −50,965 | −$4.27M | — |
Showing the 10 largest of 28 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Exited | −240,000 | −$148M | — |
| Amazon Com Inc | Added | +250,000 | +$54.9M | 12.8% |
| Progressive Corp | Added | +155,652 | +$38.4M | 24.5% |
| AH Aercap Holdings Nv | Added | +292,042 | +$35.3M | 18.2% |
| Cameco Corp | Trimmed | −328,900 | −$27.6M | 0.6% |
| I Ishares Inc | Trimmed | −280,000 | −$22.5M | 1.1% |
| Vistra Corp | Exited | −93,848 | −$18.2M | — |
| Amazon Com Inc | Exited | −80,000 | −$17.6M | — |
| S Schlumberger Ltd | Exited | −446,991 | −$15.1M | — |
| IH Iqvia Hldgs Inc | Exited | −84,986 | −$13.4M | — |
Showing the 10 largest of 491 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | New | +240,000 | +$148M | 14.0% |
| Progressive Corp | Added | +239,830 | +$64M | 14.9% |
| Ferguson Enterprises Inc | New | +267,772 | +$58.3M | 5.5% |
| SS SPDR Ser Tr | Exited | −942,381 | −$48.2M | — |
| AH Aercap Holdings Nv | Added | +324,589 | +$38M | 9.3% |
| Unitedhealth Group Inc | Exited | −71,033 | −$37.2M | — |
| Coterra Energy Inc | Trimmed | −1,033,746 | −$26.2M | — |
| SS SPDR Series Trust | Trimmed | −590,470 | −$25.2M | 0.3% |
| Meta Platforms Inc | Trimmed | −28,102 | −$20.7M | — |
| Amazon Com Inc | New | +80,000 | +$17.6M | 1.7% |
Showing the 10 largest of 531 changes.
quarter ended March 31, 2025 · filed May 16, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Exited | −155,000 | −$90.8M | — |
| AH Aercap Holdings Nv | New | +516,726 | +$52.8M | 5.8% |
| Teck Resources Ltd | Trimmed | −1,009,086 | −$36.8M | 3.0% |
| VT Vanguard Tax-managed Fds | New | +662,117 | +$33.7M | 3.7% |
| DE Dimensional ETF Trust | Trimmed | −641,733 | −$33M | 0.8% |
| Progressive Corp | Added | +109,370 | +$31M | 10.9% |
| Coterra Energy Inc | Trimmed | −921,057 | −$26.6M | 3.3% |
| VP Vici Pptys Inc | Trimmed | −750,894 | −$24.5M | — |
| I Ishares Inc | Trimmed | −875,071 | −$22.6M | 0.3% |
| SS SPDR Ser Tr | Added | +410,000 | +$21M | 5.3% |
Showing the 10 largest of 547 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Teck Resources Ltd | Trimmed | −2,780,253 | −$113M | 0.4% |
| SS SPDR S&P 500 ETF Tr | New | +155,000 | +$90.8M | 8.4% |
| Progressive Corp | Added | +239,266 | +$57.3M | 5.4% |
| Coterra Energy Inc | Trimmed | −2,078,770 | −$53.1M | 0.2% |
| Cameco Corp | Trimmed | −1,027,394 | −$52.8M | 0.4% |
| Teck Resources Ltd | Trimmed | −1,145,214 | −$46.4M | 6.6% |
| SS Select Sector SPDR Tr | Exited | −246,933 | −$38M | — |
| Eqt Corp | Exited | −995,640 | −$36.5M | — |
| Bunge Global Sa | Trimmed | −442,395 | −$34.4M | 0.1% |
| SS SPDR Ser Tr | Added | +526,258 | +$28.8M | 2.7% |
Showing the 10 largest of 558 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Apple Inc | Trimmed | −1,042,571 | −$243M | — |
| Microsoft Corp | Trimmed | −503,582 | −$217M | — |
| Nvidia Corporation | Trimmed | −1,764,860 | −$214M | — |
| IE Invesco Exchange Traded Fd T | Trimmed | −916,117 | −$164M | 2.1% |
| Teck Resources Ltd | Added | +2,780,553 | +$145M | 8.5% |
| Amazon Com Inc | Trimmed | −753,097 | −$140M | 0.5% |
| IT Ishares Tr | Trimmed | −1,709,922 | −$100M | 0.5% |
| Meta Platforms Inc | Trimmed | −161,561 | −$92.5M | 1.2% |
| Alphabet Inc | Trimmed | −446,075 | −$74M | 0.4% |
| Alphabet Inc | Exited | −361,788 | −$66.4M | — |
Showing the 10 largest of 720 changes.
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