Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (31 quarters reported)
$589M in Q4 2018 → $4.83B 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 |
|---|---|---|---|---|
| Xpo Inc | 41.9% | Trimmed 14% | 9,869,691 | $2.03B |
| Talen Energy Corp | 23.8% | Unchanged | 3,000,000 | $1.15B |
| Rxo Inc | 16.0% | Unchanged | 28,109,942 | $776M |
| Qxo Inc | 8.4% | Unchanged | 23,454,350 | $405M |
| PF Pennymac Finl Svcs Inc New | 8.2% | Unchanged | 4,531,792 | $395M |
| BH Bausch Health Cos Inc | 0.6% | Unchanged | 6,000,000 | $29.6M |
| Rice Acquisition Corp 3 | 0.5% | Unchanged | 2,400,000 | $25.2M |
| Ivanhoe Electric Inc | 0.5% | Unchanged | 2,553,191 | $24.5M |
| Rice Acquisition Corp 3 | 0.0% | Unchanged | 400,000 | $396K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Xpo Inc | Trimmed | −1,555,678 | −$319M | 41.9% |
| OP Occidental Pete Corp | Exited | −5,690,600 | −$244M | — |
quarter ended March 31, 2026 · filed May 14, 2026
quarter ended December 31, 2025 · filed May 01, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Qxo Inc | Trimmed | −7,973,524 | −$154M | 12.3% |
| Rice Acquisition Corp 3 | New | +2,400,000 | +$24.6M | 0.5% |
| Rice Acquisition Corp 3 | New | +400,000 | +$320K | — |
quarter ended September 30, 2025 · filed November 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Qxo Inc | Trimmed | −8,657,851 | −$165M | 14.7% |
quarter ended June 30, 2025 · filed August 08, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Hca Healthcare Inc | Exited | −973,898 | −$337M | — |
quarter ended March 31, 2025 · filed May 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CR Cnx Res Corp | Trimmed | −6,650,000 | −$209M | 6.2% |
| Forward Air Corp | Exited | −1,289,358 | −$41.6M | — |
quarter ended December 31, 2024 · filed February 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Qxo Inc | Trimmed | −7,000,000 | −$111M | 14.7% |
| Cyclerion Therapeutics Inc | Exited | −169,460 | −$437K | — |
quarter ended September 30, 2024 · filed November 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Qxo Inc | New | +53,908,701 | +$850M | 16.8% |
| Talen Energy Corp | New | +3,000,000 | +$535M | 10.5% |
| CR Cnx Res Corp | New | +15,000,000 | +$489M | 9.6% |
| Rxo Inc | Added | +10,266,810 | +$287M | 15.2% |
| LM Lithia Mtrs Inc | Exited | −890,000 | −$225M | — |
| Forward Air Corp | Added | +385,581 | +$13.6M | 0.9% |
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