Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (36 quarters reported)
$1.42B in Q3 2017 → $1.31B 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 |
|---|---|---|---|---|
| SE Suncor Energy Inc | 10.0% | Added 23% | 2,436,936 | $131M |
| CE Cenovus Energy | 9.6% | Added 13% | 5,100,000 | $127M |
| I2 Ishares 20 Yr Tr Bd ETF Put | 8.6% | New | 1,200,000 | $113M |
| Devon Energy Corp | 5.4% | New | 1,700,000 | $70.2M |
| Diamondback Energy Inc | 5.3% | New | 397,598 | $69.9M |
| Baytex Energy Corp | 5.2% | New | 17,000,000 | $68M |
| II Ishares Iboxx Inv Cp ETF Call | 3.3% | New | 400,000 | $43.6M |
| Cameco Corp | 2.7% | Added 22% | 353,107 | $36M |
| Transocean Ltd | 2.6% | Unchanged | 7,000,000 | $34.2M |
| SS SPDR S&P 500 Put | 2.4% | Trimmed 95% | 43,000 | $32.1M |
| SS SPDR S&P 500 | 2.3% | Trimmed 11% | 41,100 | $30.7M |
| TD Toronto Dominion Bk | 2.3% | Added 42% | 246,256 | $29.9M |
| Royal Bank Of Canada | 2.3% | Added 42% | 143,827 | $29.8M |
| Shopify Inc | 2.2% | Added 44% | 254,222 | $29M |
| Canadian National Railway | 2.1% | Added 14% | 234,260 | $27.9M |
| Enbridge Inc | 2.1% | Added 35% | 507,626 | $27.5M |
| Kinross Gold Corp | 1.9% | Added 38% | 1,067,572 | $25.2M |
| Barrick Mining Corp | 1.3% | Added 36% | 463,708 | $17M |
| Canadian Natural Resources Ltd | 1.1% | Added 59% | 375,807 | $14.8M |
| Hycroft Mining Holding Corp | 1.1% | Trimmed 1.5% | 628,405 | $14.7M |
| Bce Inc | 1.1% | Added 38% | 675,161 | $14.5M |
| Wheaton Precious Metals Corp | 0.9% | Trimmed 14% | 100,557 | $11.3M |
| Vizsla Silver Corp | 0.9% | Unchanged | 3,410,000 | $11.3M |
| Coeur Mining Inc | 0.8% | Unchanged | 654,243 | $10.7M |
| VE Viper Energy Inc Class A | 0.8% | Added 25% | 250,000 | $10.6M |
| Agnico Eagle Mines Ltd | 0.7% | Trimmed 13% | 59,850 | $9.28M |
| SS Sunshine Silver Mining And Refining | 0.7% | New | 700,000 | $9.25M |
| AG Alamos Gold Inc Class A | 0.7% | Unchanged | 298,466 | $9.06M |
| Canadian Pacific Kansas City Ltd | 0.6% | Added 44% | 89,844 | $7.78M |
| Tc Energy Corp | 0.6% | Added 33% | 111,540 | $7.39M |
| Pan American Silver Corp | 0.6% | Unchanged | 161,306 | $7.22M |
| Canadian Imperial Bank Of Commerce | 0.5% | Added 45% | 58,346 | $6.71M |
| PR Permian Resources Corp Class A | 0.5% | New | 350,000 | $6.44M |
| Iamgold Corp | 0.5% | Trimmed 3.1% | 405,892 | $6.43M |
| Taiwan Semiconductor Manufacturing | 0.5% | Added 44% | 13,078 | $6.25M |
| South Bow Corp | 0.5% | Trimmed 30% | 175,000 | $6.17M |
| Anglogold Ashanti PLC | 0.5% | Added 0.0% | 74,550 | $6.03M |
| CS Contango Silver And Gold Inc | 0.4% | Unchanged | 361,899 | $5.71M |
| Fortis Inc | 0.4% | Added 72% | 97,861 | $5.6M |
| Hecla Mining | 0.4% | Unchanged | 358,600 | $5.53M |
| AC Alphabet Inc Class A | 0.4% | Added 100% | 14,886 | $5.32M |
| Chord Energy Corp | 0.4% | New | 45,000 | $5.14M |
| Freeport Mcmoran Inc | 0.4% | Added 61% | 80,563 | $5.07M |
| Nvidia Corp | 0.4% | Added 36% | 25,182 | $5.04M |
| Expand Energy Corp | 0.3% | New | 50,000 | $4.56M |
| Collective Mining Ltd | 0.3% | Trimmed 16% | 305,714 | $3.74M |
| B Buenaventura | 0.3% | Unchanged | 125,466 | $3.67M |
| EL Eli Lilly | 0.3% | Added 259% | 2,810 | $3.37M |
| Nexgen Energy Ltd | 0.3% | Unchanged | 355,000 | $3.33M |
| Equinix Inc | 0.3% | Added 70% | 3,185 | $3.32M |
| Celestica Inc | 0.2% | Added 77% | 7,894 | $2.88M |
| Space Exploration Technologies | 0.2% | New | 16,806 | $2.87M |
| Guardant Health Inc | 0.2% | Added 46% | 19,018 | $2.85M |
| AC Alphabet Inc Class C | 0.2% | Added 11% | 8,035 | $2.84M |
| Linde PLC | 0.2% | Added 979% | 5,311 | $2.76M |
| DB Dutch Bros Inc Class A | 0.2% | New | 37,691 | $2.71M |
| Natera Inc | 0.2% | Added 22% | 9,538 | $2.59M |
| SM Sumitomo Mitsui Fin Grp | 0.2% | Added 186% | 106,929 | $2.52M |
| BI Brookfield Infrastructure Partners | 0.2% | Added 77% | 149,888 | $2.45M |
| CH Crowdstrike Holdings Inc Class A | 0.2% | New | 3,161 | $2.41M |
Showing top 60 of 165 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 11, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 | Trimmed | −802,500 | −$599M | 2.4% |
| I2 Ishares 20 Yr Tr Bd ETF | New | +1,200,000 | +$113M | 8.6% |
| Devon Energy Corp | New | +1,700,000 | +$70.2M | 5.4% |
| Diamondback Energy Inc | New | +397,598 | +$69.9M | 5.3% |
| Baytex Energy Corp | New | +17,000,000 | +$68M | 5.2% |
| II Ishares Iboxx Inv Cp ETF | New | +400,000 | +$43.6M | 3.3% |
| Par Pacific Holdings Inc | Trimmed | −525,000 | −$29.4M | 0.1% |
| SE Suncor Energy Inc | Added | +455,817 | +$24.5M | 10.0% |
| CE Cenovus Energy | Added | +600,000 | +$14.9M | 9.6% |
| SS Sunshine Silver Mining And Refining | New | +700,000 | +$9.25M | 0.7% |
Showing the 10 largest of 152 changes.
quarter ended March 31, 2026 · filed August 11, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF | Added | +800,000 | +$520M | 39.3% |
| SE Suncor Energy Inc | Added | +1,781,021 | +$118M | 9.4% |
| Expand Energy Corp | Exited | −800,000 | −$88.3M | — |
| Antero Resources Corp | Exited | −2,500,000 | −$86.2M | — |
| Eqt Corp | Trimmed | −1,185,873 | −$75.5M | 0.1% |
| VE Viper Energy Inc Class A | Trimmed | −1,000,000 | −$47M | 0.7% |
| Transocean Ltd | New | +7,000,000 | +$46.4M | 3.3% |
| Gulfport Energy Corp | Exited | −200,000 | −$41.6M | — |
| Par Pacific Holdings Inc | New | +550,000 | +$34.5M | 2.5% |
| I2 Ishares 20 Yr Tr Bd ETF | Exited | −295,000 | −$25.7M | — |
Showing the 10 largest of 168 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Range Resources Corp | Exited | −2,000,000 | −$75.3M | — |
| Diamondback Energy Inc | Trimmed | −295,000 | −$44.3M | 0.3% |
| Gulfport Energy Corp | New | +200,000 | +$41.6M | 4.6% |
| VE Viper Energy Inc Class A | Added | +1,050,000 | +$40.6M | 5.1% |
| I2 Ishares 20 Yr Tr Bd ETF | New | +295,000 | +$25.7M | 2.8% |
| Transocean Ltd | Exited | −6,000,000 | −$18.7M | — |
| HM Hycroft Mining Holding Class A | New | +757,100 | +$18M | 2.0% |
| CE Cenovus Energy Inc | Added | +960,000 | +$16.2M | 8.4% |
| Wheaton Precious Metals Corp | Added | +100,557 | +$11.8M | 1.6% |
| Coeur Mining Inc | New | +654,243 | +$11.7M | 1.3% |
Showing the 10 largest of 175 changes.
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| I2 Ishares 20 Yr Tr Bd ETF | Exited | −600,000 | −$53M | — |
| CE Cenovus Energy Inc | Added | +2,940,000 | +$50M | 7.9% |
| Diamondback Energy Inc | New | +315,000 | +$45.1M | 5.9% |
| Antero Resources Corp | Added | +850,000 | +$28.5M | 10.0% |
| Eqt Corp | Trimmed | −395,610 | −$21.5M | 8.6% |
| Range Resources Corp | Added | +500,000 | +$18.8M | 9.9% |
| Transocean Ltd | New | +6,000,000 | +$18.7M | 2.5% |
| AG Alamos Gold Inc Class A | New | +305,000 | +$10.6M | 1.4% |
| Expand Energy Corp | Added | +100,000 | +$10.6M | 12.6% |
| Barrick Mining Corp | New | +270,666 | +$8.87M | 1.2% |
Showing the 10 largest of 133 changes.
quarter ended June 30, 2025 · filed August 05, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Canadian Natural Resources Ltd | Trimmed | −3,000,000 | −$94.2M | 0.5% |
| Range Resources Corp | New | +1,500,000 | +$61M | 10.0% |
| Veren Inc | Exited | −8,697,546 | −$57.6M | — |
| I2 Ishares 20 Yr Tr Bd ETF | New | +600,000 | +$53M | 8.7% |
| Antero Resources Corp | Added | +900,000 | +$36.3M | 9.3% |
| Greenfire Resources Ltd | Exited | −2,000,000 | −$11.7M | — |
| South Bow Corp | New | +300,000 | +$7.77M | 1.3% |
| Baytex Energy Corp | Exited | −2,800,000 | −$6.24M | — |
| Civitas Resources Inc | Exited | −170,000 | −$5.93M | — |
| Eqt Corp | Added | +100,000 | +$5.83M | 15.4% |
Showing the 10 largest of 78 changes.
quarter ended March 31, 2025 · filed May 06, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Veren Inc | Trimmed | −12,402,454 | −$82.1M | 9.6% |
| SE Suncor Energy Inc | Trimmed | −1,496,953 | −$58M | 0.5% |
| Eqt Corp | Added | +1,000,000 | +$53.4M | 13.3% |
| Baytex Energy Corp | Trimmed | −20,000,000 | −$44.6M | 1.0% |
| Expand Energy Corp | Added | +400,000 | +$44.5M | 14.8% |
| Canadian Natural Resources Ltd | Added | +1,204,435 | +$37.1M | 15.8% |
| PD Precision Drilling Corp | Exited | −600,000 | −$36.6M | — |
| I2 Ishares 20 Yr Tr Bd ETF | Exited | −300,000 | −$26.2M | — |
| AR Arch Resources Inc Class A | Exited | −150,000 | −$21.2M | — |
| Antero Resources Corp | New | +500,000 | +$20.2M | 3.4% |
Showing the 10 largest of 93 changes.
quarter ended December 31, 2024 · filed February 10, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| I2 Ishares 20 Yr Tr Bd ETF | Exited | −1,200,000 | −$118M | — |
| CE Cenovus Energy Inc | Trimmed | −6,500,000 | −$98.5M | 2.2% |
| SE Suncor Energy Inc | Added | +1,499,779 | +$53.5M | 8.2% |
| Canadian Natural Resources Ltd | Trimmed | −1,717,207 | −$53M | 8.5% |
| Baytex Energy Corp | Trimmed | −16,000,000 | −$41.3M | 8.5% |
| Expand Energy Corp | New | +400,000 | +$39.8M | 5.8% |
| PD Precision Drilling Corp | Trimmed | −550,000 | −$33.6M | 5.3% |
| I2 Ishares 20 Yr Tr Bd ETF | New | +300,000 | +$26.2M | 3.8% |
| Eqt Corp | New | +500,000 | +$23.1M | 3.3% |
| AR Arch Resources Inc Class A | New | +150,000 | +$21.2M | 3.1% |
Showing the 10 largest of 87 changes.
quarter ended September 30, 2024 · filed November 07, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| I2 Ishares 20 Yr Tr Bd ETF | New | +1,200,000 | +$118M | 12.8% |
| I2 Ishares 20 Yr Tr Bd ETF | Exited | −859,600 | −$78.9M | — |
| Patterson Uti Energy Inc | Exited | −5,000,000 | −$51.8M | — |
| Chord Energy Corp | Trimmed | −195,000 | −$25.4M | 1.3% |
| Canadian Natural Resources Ltd | Added | +496,814 | +$16.5M | 13.0% |
| Veren Inc | Added | +2,100,000 | +$12.9M | 12.1% |
| VE Viper Energy Inc Class A | Trimmed | −265,400 | −$12M | 1.1% |
| PD Precision Drilling Corp | Trimmed | −150,000 | −$9.25M | 7.7% |
| Baytex Energy Corp | Trimmed | −1,700,000 | −$5.05M | 12.5% |
| Canadian Imperial Bank Of Commerce | Added | +51,226 | +$3.14M | 0.4% |
Showing the 10 largest of 103 changes.
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