Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (48 quarters reported)
$119M in Q4 2013 → $97.6M now. Hover for any quarter.
As reported for the quarter ended September 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| MI Mgp Ingredients Inc New | 20.2% | Added 11% | 20,027,000 | $19.7M |
| BM Blackstone Mortgage Trust In | 14.3% | Added 56% | 13,975,000 | $13.9M |
| CW Chefs Whse Inc | 13.1% | New | 5,000,000 | $12.8M |
| Teladoc Health Inc | 12.3% | Added 152% | 12,437,000 | $12.1M |
| SP Starwood Ppty Tr Inc | 12.3% | Added 50% | 12,000,000 | $12M |
| Redwood Trust Inc | 9.2% | Added 27% | 8,888,000 | $8.98M |
| SP Shift4 Pmts Inc | 7.1% | Unchanged | 7,260,000 | $6.98M |
| Interdigital Inc | 3.0% | New | 700,000 | $2.96M |
| Ziff Davis Inc | 2.7% | Unchanged | 2,677,000 | $2.67M |
| Redfin Corp | 2.2% | Added 5.1% | 2,191,000 | $2.13M |
| Marriott Vacations Worldwide | 2.0% | Trimmed 64% | 2,000,000 | $1.99M |
| PH Pebblebrook Hotel Tr | 0.6% | Unchanged | 548,000 | $543K |
| AH Affirm Hldgs Inc | 0.5% | Added 174% | 527,000 | $522K |
| Global Indemnity Group LLC | 0.3% | New | 11,019 | $270K |
| Green Plains Inc | 0.0% | Unchanged | 25,000 | $24.8K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2026 · filed October 27, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| LH Lumentum Hldgs Inc | Exited | −5,018,000 | −$32.3M | — |
| AE Advanced Energy Inds | Exited | −9,000,000 | −$24.4M | — |
| CW Chefs Whse Inc | New | +5,000,000 | +$12.8M | 13.1% |
| UH Upstart Hldgs Inc | Exited | −9,206,000 | −$9.06M | — |
| Teladoc Health Inc | Added | +7,505,000 | +$7.28M | 12.3% |
| BM Blackstone Mortgage Trust In | Added | +5,000,000 | +$4.99M | 14.3% |
| SP Starwood Ppty Tr Inc | Added | +4,000,000 | +$4.01M | 12.3% |
| Marriott Vacations Worldwide | Trimmed | −3,556,000 | −$3.53M | 2.0% |
| Interdigital Inc | New | +700,000 | +$2.96M | 3.0% |
| Upwork Inc | Exited | −2,610,000 | −$2.57M | — |
Showing the 10 largest of 18 changes.
quarter ended June 30, 2026 · filed July 28, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| LH Lumentum Hldgs Inc | New | +5,018,000 | +$32.3M | 23.9% |
| AE Advanced Energy Inds | New | +9,000,000 | +$24.4M | 18.1% |
| Penn Entertainment Inc | Exited | −19,267,000 | −$19M | — |
| CB Cracker Barrel Old Ctry Stor | Exited | −15,420,000 | −$15.1M | — |
| AW American Wtr Cap Corp | Exited | −11,830,000 | −$11.7M | — |
| SP Starwood Ppty Tr Inc | New | +8,000,000 | +$8.06M | 6.0% |
| SP Shift4 Pmts Inc | New | +7,260,000 | +$6.84M | 5.1% |
| Redwood Trust Inc | Added | +3,025,000 | +$3.03M | 5.2% |
| Sea Ltd | New | +2,500,000 | +$2.47M | 1.8% |
| Redfin Corp | New | +2,085,000 | +$2M | 1.5% |
Showing the 10 largest of 21 changes.
quarter ended March 31, 2026 · filed May 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SH Summit Hotel Pptys | Exited | −19,796,000 | −$19.6M | — |
| Jetblue Airways Corp | Exited | −16,795,000 | −$16.4M | — |
| Penn Entertainment Inc | Added | +14,997,000 | +$14.8M | 18.6% |
| Cable One Inc | Exited | −14,124,000 | −$13.8M | — |
| Marriott Vacations Worldwide | Exited | −13,547,000 | −$13.4M | — |
| TH Two Harbors Inventment Corpo | Exited | −12,687,000 | −$12.6M | — |
| AW American Wtr Cap Corp | New | +11,830,000 | +$11.7M | 11.5% |
| Enphase Energy Inc | Exited | −10,664,000 | −$10.5M | — |
| P Pennymac Corp | Exited | −9,541,000 | −$9.45M | — |
| CB Cracker Barrel Old Ctry Stor | Added | +8,250,000 | +$8.07M | 14.8% |
Showing the 10 largest of 33 changes.
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Sea Ltd | Exited | −12,500,000 | −$24.6M | — |
| FI Fiverr Intl Ltd | Exited | −15,050,000 | −$14.9M | — |
| RH Rwt Hldgs Inc | Exited | −12,595,000 | −$12.5M | — |
| Novocure Ltd | Exited | −11,015,000 | −$10.8M | — |
| SH Summit Hotel Pptys | Added | +9,035,000 | +$8.94M | 13.9% |
| Jetblue Airways Corp | Added | +9,099,000 | +$8.87M | 11.6% |
| CB Cracker Barrel Old Ctry Stor | New | +7,170,000 | +$6.9M | 4.9% |
| Cable One Inc | Added | +6,483,000 | +$6.35M | 9.8% |
| NM New Mtn Fin Corp | Exited | −5,636,000 | −$5.58M | — |
| MI Mgp Ingredients Inc New | Added | +5,802,000 | +$5.57M | 7.3% |
Showing the 10 largest of 29 changes.
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Sea Ltd | New | +12,500,000 | +$24.6M | 17.6% |
| Nrg Energy Inc | Exited | −5,000,000 | −$18.6M | — |
| IL Integra Lifesciences Hldgs C | Exited | −18,395,000 | −$18.2M | — |
| Solaredge Technologies Inc | Exited | −14,070,000 | −$13.6M | — |
| Novocure Ltd | New | +11,015,000 | +$10.8M | 7.8% |
| SH Summit Hotel Pptys Inc | New | +10,761,000 | +$10.5M | 7.5% |
| Arbor Realty Trust Inc | Exited | −10,169,000 | −$10.2M | — |
| Marriott Vacations Worldwide | New | +10,047,000 | +$9.79M | 7.0% |
| Wayfair Inc | Exited | −9,090,000 | −$8.97M | — |
| Jetblue Airways Corp | New | +7,696,000 | +$7.43M | 5.3% |
Showing the 10 largest of 28 changes.
quarter ended June 30, 2025 · filed August 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Booking Holdings Inc | Exited | −10,333,000 | −$25M | — |
| Nrg Energy Inc | New | +5,000,000 | +$18.6M | 14.3% |
| Hubspot Inc | Exited | −8,714,000 | −$17.5M | — |
| Solaredge Technologies Inc | New | +14,070,000 | +$13.6M | 10.5% |
| NV National Vision Hldgs Inc | Exited | −13,060,000 | −$12.9M | — |
| IL Integra Lifesciences Hldgs C | Added | +10,275,000 | +$10.2M | 14.0% |
| Health Catalyst Inc | Exited | −8,790,000 | −$8.68M | — |
| Arbor Realty Trust Inc | Added | +7,419,000 | +$7.41M | 7.8% |
| Five9 Inc | Exited | −5,712,000 | −$5.6M | — |
| Enphase Energy Inc | New | +4,164,000 | +$3.99M | 3.1% |
Showing the 10 largest of 27 changes.
quarter ended March 31, 2025 · filed May 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Booking Holdings Inc | New | +10,333,000 | +$25M | 18.8% |
| Insight Enterprises Inc | Exited | −9,901,000 | −$21.1M | — |
| Hubspot Inc | New | +8,714,000 | +$17.5M | 13.1% |
| Pegasystems Inc | Exited | −10,885,000 | −$10.8M | — |
| IV I3 Verticals LLC | Exited | −9,550,000 | −$9.36M | — |
| Ringcentral Inc | Exited | −7,063,000 | −$6.97M | — |
| RH Rwt Hldgs Inc | Added | +6,710,000 | +$6.62M | 9.4% |
| TH Two Harbors Inventment Corpo | New | +5,000,000 | +$4.95M | 3.7% |
| Chegg Inc | Exited | −5,000,000 | −$4.85M | — |
| Five9 Inc | Trimmed | −3,500,000 | −$3.43M | 4.2% |
Showing the 10 largest of 28 changes.
quarter ended December 31, 2024 · filed February 10, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Booking Holdings Inc | Exited | −7,250,000 | −$15.8M | — |
| P Pennymac Corp | Exited | −15,812,000 | −$15.7M | — |
| CI Chart Inds Inc | Exited | −5,871,000 | −$12.3M | — |
| Lyft Inc | Exited | −11,750,000 | −$11.5M | — |
| Insight Enterprises Inc | Added | +4,860,000 | +$10.4M | 16.1% |
| Health Catalyst Inc | New | +8,790,000 | +$8.63M | 6.6% |
| NV National Vision Hldgs Inc | Added | +8,500,000 | +$8.33M | 8.7% |
| IV I3 Verticals LLC | Added | +7,509,000 | +$7.36M | 7.1% |
| Five9 Inc | Added | +6,607,000 | +$6.41M | 6.8% |
| Envestnet Inc | Exited | −5,000,000 | −$4.92M | — |
Showing the 10 largest of 30 changes.
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