Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (31 quarters reported)
$306M in Q4 2018 → $224M 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 |
|---|---|---|---|---|
| JF Jefferies Financial Group Ord | 20.3% | Added 17% | 910,370 | $45.5M |
| CI Cnh Industrial Ord | 18.5% | New | 3,705,690 | $41.6M |
| AD Arcos Dorados Holdings Cl A Ord | 15.4% | Added 0.3% | 4,275,279 | $34.5M |
| BB Banco Bradesco ADR Repstg 1 Prf | 12.9% | Trimmed 0.9% | 8,329,722 | $28.9M |
| WP Wheaton Precious Metals Ord | 10.1% | Trimmed 14% | 202,628 | $22.8M |
| GR Greenfire Resources Ord | 5.6% | Trimmed 4.4% | 2,232,277 | $12.6M |
| GF Grupo Financiero ADR Rep 10 Cl B Ord | 5.5% | Added 41% | 246,487 | $12.3M |
| BC Brookfield Cl A Ord | 4.3% | Unchanged | 227,939 | $9.71M |
| DE Douglas Elliman Ord | 2.6% | Added 4.8% | 3,241,090 | $5.74M |
| TO Tidewater Ord | 2.4% | Trimmed 24% | 82,251 | $5.48M |
| CI Csw Industrials Ord | 0.8% | Unchanged | 6,847 | $1.91M |
| BA Brookfield Asset Mngmt Cl A Ord | 0.8% | Unchanged | 41,318 | $1.85M |
| CS Capital Southwest Ord | 0.7% | Unchanged | 61,698 | $1.47M |
| BW Brookfield Wealth Solutions Cl A Ord | 0.0% | Unchanged | 1,187 | $50.6K |
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 |
|---|---|---|---|---|
| VO Valaris Ord | Exited | −463,985 | −$45.5M | — |
| NO Nutrien Ord | Exited | −599,236 | −$45.2M | — |
| CI Cnh Industrial Ord | New | +3,705,690 | +$41.6M | 18.5% |
| JF Jefferies Financial Group Ord | Added | +133,302 | +$6.66M | 20.3% |
| WP Wheaton Precious Metals Ord | Trimmed | −32,017 | −$3.6M | 10.1% |
| GF Grupo Financiero ADR Rep 10 Cl B Ord | Added | +71,389 | +$3.57M | 5.5% |
| TO Tidewater Ord | Trimmed | −25,741 | −$1.72M | 2.4% |
| GR Greenfire Resources Ord | Trimmed | −103,527 | −$585K | 5.6% |
| BB Banco Bradesco ADR Repstg 1 Prf | Trimmed | −77,998 | −$271K | 12.9% |
| DE Douglas Elliman Ord | Added | +148,600 | +$263K | 2.6% |
Showing the 10 largest of 11 changes.
quarter ended March 31, 2026 · filed May 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| VO Valaris Ord | Trimmed | −143,912 | −$14.1M | 16.8% |
| WP Wheaton Precious Metals Ord | Trimmed | −73,257 | −$9.6M | 11.4% |
| GF Grupo Financiero ADR Rep 10 Cl B Ord | New | +175,098 | +$8.18M | 3.0% |
| JF Jefferies Financial Group Ord | Added | +167,347 | +$6.91M | 11.8% |
| NO Nutrien Ord | Added | +79,447 | +$6M | 16.7% |
| AD Arcos Dorados Holdings Cl A Ord | Added | +706,683 | +$5.83M | 13.0% |
| NF New Found Gold Ord | Exited | −1,692,643 | −$5.01M | — |
| GR Greenfire Resources Ord | Added | +642,312 | +$4.08M | 5.5% |
| TO Tidewater Ord | Added | +5,763 | +$481K | 3.3% |
| BB Banco Bradesco ADR Repstg 1 Prf | Added | +103,900 | +$379K | 11.3% |
Showing the 10 largest of 12 changes.
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| WP Wheaton Precious Metals Ord | Trimmed | −90,445 | −$10.6M | 15.6% |
| GR Greenfire Resources Ord | New | +1,693,492 | +$8.08M | 3.5% |
| BB Banco Bradesco ADR Repstg 1 Prf | Trimmed | −1,904,170 | −$6.34M | 11.9% |
| VO Valaris Ord | Trimmed | −100,117 | −$5.05M | 13.2% |
| NF New Found Gold Ord | New | +1,692,643 | +$5.01M | 2.2% |
| NO Nutrien Ord | Trimmed | −75,832 | −$4.68M | 13.8% |
| JF Jefferies Financial Group Ord | Trimmed | −70,122 | −$4.35M | 16.3% |
| BC Brookfield Cl A Ord | Added | +70,788 | +$3.25M | 4.5% |
| AD Arcos Dorados Holdings Cl A Ord | Added | +226,912 | +$1.67M | 11.3% |
| CI Csw Industrials Ord | Trimmed | −933 | −$274K | 0.9% |
Showing the 10 largest of 14 changes.
quarter ended September 30, 2025 · filed November 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| WP Wheaton Precious Metals Ord | Trimmed | −89,807 | −$10M | 18.1% |
| TR Teck Resources Cl B Ord | Exited | −134,062 | −$5.41M | — |
| NO Nutrien Ord | Added | +29,665 | +$1.74M | 14.2% |
| JF Jefferies Financial Group Ord | Added | +13,989 | +$915K | 18.1% |
| DE Douglas Elliman Ord | Trimmed | −224,035 | −$641K | 3.4% |
| BB Banco Bradesco ADR Repstg 1 Prf | Trimmed | −55,186 | −$187K | 14.0% |
| AD Arcos Dorados Holdings Cl A Ord | Added | +2,443 | +$16.5K | 9.1% |
| VO Valaris Ord | Added | +313 | +$15.3K | 14.0% |
quarter ended June 30, 2025 · filed August 11, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| WP Wheaton Precious Metals Ord | Trimmed | −221,038 | −$19.8M | 18.7% |
| VO Valaris Ord | Added | +241,222 | +$10.2M | 12.7% |
| BB Banco Bradesco ADR Repstg 1 Prf | Trimmed | −2,011,404 | −$6.22M | 13.5% |
| NO Nutrien Ord | Trimmed | −92,997 | −$5.42M | 14.1% |
| JF Jefferies Financial Group Ord | Added | +91,601 | +$5.01M | 15.5% |
| CH Copa Holdings Cl A Ord | Exited | −31,321 | −$2.9M | — |
| AD Arcos Dorados Holdings Cl A Ord | Trimmed | −224,462 | −$1.77M | 11.2% |
| TR Teck Resources Cl B Ord | Added | +19,000 | +$767K | 2.3% |
| DE Douglas Elliman Ord | Added | +200,637 | +$465K | 3.1% |
quarter ended March 31, 2025 · filed May 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| EO Enerflex Ord | Exited | −4,796,705 | −$47.7M | — |
| DC Despegar Com Ord | Exited | −1,679,528 | −$32.3M | — |
| CO Cameco Ord | Exited | −620,008 | −$31.9M | — |
| BB Banco Bradesco ADR Repstg 1 Prf | New | +12,274,580 | +$27.4M | 12.2% |
| VO Valaris Ord | New | +466,479 | +$18.3M | 8.2% |
| AD Arcos Dorados Holdings Cl A Ord | Added | +1,429,338 | +$11.5M | 12.8% |
| TO Tidewater Ord | New | +102,229 | +$4.32M | 1.9% |
| GF Grupo Financiero ADR Rep 10 Cl B Ord | Exited | −61,878 | −$3.86M | — |
| JF Jefferies Financial Group Ord | Trimmed | −65,951 | −$3.53M | 13.8% |
| TR Teck Resources Cl B Ord | Added | +41,350 | +$1.51M | 1.9% |
Showing the 10 largest of 14 changes.
quarter ended December 31, 2024 · filed February 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| JF Jefferies Financial Group Ord | Trimmed | −343,084 | −$26.9M | 18.3% |
| DC Despegar Com Ord | Trimmed | −341,981 | −$6.58M | 11.8% |
| WP Wheaton Precious Metals Ord | Trimmed | −79,609 | −$4.48M | 14.7% |
| GF Grupo Financiero ADR Rep 10 Cl B Ord | Trimmed | −58,339 | −$3.64M | 1.4% |
| NO Nutrien Ord | Added | +72,061 | +$3.22M | 10.5% |
| CO Cameco Ord | Trimmed | −47,059 | −$2.42M | 11.6% |
| AD Arcos Dorados Holdings Cl A Ord | Added | +210,133 | +$1.53M | 5.6% |
| BC Brookfield Cl A Ord | Trimmed | −23,126 | −$1.33M | 3.3% |
| BM Banco Macro ADR Rep Ten Cl B Ord | Exited | −20,895 | −$1.33M | — |
| EO Enerflex Ord | Trimmed | −111,857 | −$1.11M | 17.4% |
Showing the 10 largest of 15 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TO Tidewater Ord | Exited | −98,934 | −$9.42M | — |
| JF Jefferies Financial Group Ord | Trimmed | −86,936 | −$5.35M | 22.2% |
| WP Wheaton Precious Metals Ord | Trimmed | −75,224 | −$4.59M | 17.8% |
| EO Enerflex Ord | Trimmed | −606,110 | −$3.61M | 10.7% |
| DC Despegar Com Ord | Trimmed | −166,856 | −$2.07M | 9.2% |
| NO Nutrien Ord | Trimmed | −39,561 | −$1.9M | 10.0% |
| AD Arcos Dorados Holdings Cl A Ord | Trimmed | −163,443 | −$1.43M | 6.1% |
| CI Csw Industrials Ord | Trimmed | −2,623 | −$961K | 1.2% |
| BM Banco Macro ADR Rep Ten Cl B Ord | Trimmed | −8,675 | −$551K | 0.5% |
| DE Douglas Elliman Ord | Trimmed | −130,059 | −$238K | 1.7% |
Showing the 10 largest of 14 changes.
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