Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$898M in Q2 2013 → $2.1B 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 |
|---|---|---|---|---|
| BM Blackrock Muniholdings Fd In | 6.8% | Trimmed 4.1% | 11,987,371 | $143M |
| BM Blackrock Muniyild Qult Fd I | 3.9% | Trimmed 10% | 7,094,331 | $82.3M |
| Pershing Square Usa Ltd | 3.7% | New | 2,089,216 | $78.1M |
| BM Blackrock Muniyield Quality | 2.5% | Trimmed 9.4% | 4,760,961 | $52.9M |
| BC Blackrock Corpor Hi Yld Fd I | 2.3% | Trimmed 6.3% | 5,529,831 | $47.3M |
| BS Blackrock Science & Technolo | 2.2% | Added 1.2% | 1,511,481 | $45.4M |
| BO Blue Owl Technology Fin Corp | 1.9% | Added 74% | 3,788,852 | $39.2M |
| GE Gabelli Equity Tr Inc | 1.8% | New | 6,609,367 | $37.4M |
| IT Ishares Tr | 1.7% | Added 1.1% | 340,663 | $36.7M |
| PM Pimco Mun Income Fd Ii | 1.6% | Added 5.4% | 4,482,914 | $34.1M |
| FS Fs Specialty Lending Fd | 1.5% | Added 21% | 2,800,048 | $31.2M |
| GS Guggenheim Strategic Opportu | 1.4% | Added 41% | 2,666,430 | $29.1M |
| Invesco Municipal Trust | 1.3% | Trimmed 37% | 2,749,965 | $27.6M |
| VM Vanguard Mun Bd Fds | 1.3% | New | 541,385 | $27.4M |
| FC Fs Credit Opportunities Corp | 1.3% | Added 36% | 5,444,012 | $27.2M |
| BT Blackrock Tax Municpal Bd Tr | 1.2% | Added 595% | 1,622,646 | $26.2M |
| LA Liberty All Star Equity Fd | 1.2% | Trimmed 17% | 4,332,937 | $25.2M |
| BT Blackrock Tech And Private E | 1.2% | Added 6.5% | 2,737,496 | $24.7M |
| PC Pimco Calif Mun Income Fd | 1.1% | Added 2.5% | 2,575,012 | $23.1M |
| PD Pimco Dynamic Income Strateg | 1.1% | Trimmed 3.3% | 1,101,509 | $22.9M |
| SC Saba Capital Income & Opport | 1.1% | Trimmed 5.1% | 2,711,592 | $22.6M |
| WA Western Asset Managed Muns F | 0.9% | Trimmed 9.4% | 1,757,452 | $18.3M |
| IM Invesco Mun Opportunit Tr | 0.8% | Trimmed 38% | 1,703,324 | $16.8M |
| SS Sixth Street Specialty Lendi | 0.8% | Added 233% | 969,599 | $16.6M |
| BM Blackrock Muniyield N Y Qual | 0.8% | Trimmed 5.7% | 1,624,077 | $16.5M |
| EV Eaton Vance Mun Bd Fd | 0.7% | Trimmed 6.1% | 1,512,949 | $15.1M |
| Pershing Square Inc | 0.7% | New | 450,000 | $14.8M |
| FT First Tr High Yield Opprt 20 | 0.7% | Added 0.2% | 1,022,036 | $14M |
| BH Blackrock Health Sciences Te | 0.6% | Added 8.0% | 873,816 | $13.4M |
| Blue Owl Capital Corporation | 0.6% | Trimmed 16% | 1,192,576 | $13M |
| BM Bny Mellon Strategic Muns In | 0.6% | Added 1.1% | 2,006,388 | $13M |
| SC Saba Capital Income & Oprnt | 0.6% | Trimmed 7.1% | 1,861,414 | $12.2M |
| AN Alliancebernstein Natl Mun I | 0.6% | Trimmed 1.3% | 1,047,724 | $12M |
| RM Royce Micro-cap Tr Inc | 0.6% | Trimmed 9.4% | 813,982 | $11.9M |
| Graf Global Corp | 0.6% | Trimmed 0.1% | 1,097,311 | $11.9M |
| BM Bny Mellon Strategic Mun Bd | 0.6% | Added 16% | 1,920,587 | $11.8M |
| BM Blackrock Munihldngs Cali | 0.6% | Trimmed 53% | 1,066,052 | $11.7M |
| Royce Small Cap Trust Inc | 0.5% | Added 0.9% | 607,243 | $11.2M |
| BM Blackrock Mun Target Term Tr | 0.5% | Trimmed 44% | 493,001 | $11.2M |
| NM Nuveen Mun High Income Oppor | 0.5% | New | 1,049,891 | $11.1M |
| PM Putnam Mun Opportunities Tr | 0.5% | Added 38% | 949,042 | $10M |
| NM Neuberger Mun Fd Inc | 0.5% | Added 0.8% | 937,491 | $9.89M |
| WA Western Asset Inter Muni | 0.5% | Added 3.7% | 1,231,561 | $9.69M |
| KA Kayne Anderson Energy Infrst | 0.5% | Added 0.6% | 697,198 | $9.64M |
| BM Blackrock Muniassets Fd Inc | 0.4% | Added 178% | 868,104 | $9.45M |
| BM Blackrock Muniyield Pa Quali | 0.4% | Trimmed 9.0% | 814,371 | $9.26M |
| NH Neuberger High Yield St Fd I | 0.4% | New | 1,371,413 | $8.56M |
| AM Aberdeen Mun Income Fd | 0.4% | Added 66% | 1,509,877 | $8.49M |
| CC Crescent Cap Bdc Inc | 0.4% | New | 702,796 | $7.67M |
| PN Pimco New York Mun Fd Ii | 0.4% | Trimmed 1.2% | 1,044,735 | $7.41M |
| WA Western Ast Infl Lkd Opp & I | 0.3% | Trimmed 9.1% | 875,999 | $7.36M |
| NA Nuveen Amt-free Mun Value Fd | 0.3% | Added 20% | 504,767 | $7.26M |
| CS Calamos Strategic Total Retu | 0.3% | Added 104% | 351,534 | $7.23M |
| FM Fg Merger Ii Corp | 0.3% | Unchanged | 642,969 | $6.66M |
| CG Clough Global Opportunities | 0.3% | Trimmed 52% | 1,081,372 | $6.62M |
| SC Solarius Capital Acqu Corp | 0.3% | Trimmed 0.1% | 610,009 | $6.31M |
| BM Blackrock Multi Sector Inc T | 0.3% | Trimmed 60% | 487,034 | $6.1M |
| CL Calamos Lng Shr Eqt Dynamic | 0.3% | Added 0.7% | 465,879 | $6.09M |
| LT Launch Two Acquisition Corp. | 0.3% | Trimmed 0.1% | 563,656 | $6.08M |
| Howard Hughes Holdings Inc | 0.3% | Trimmed 43% | 85,000 | $6.08M |
Showing top 60 of 585 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 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Pershing Square Usa Ltd | New | +2,089,216 | +$78.1M | 3.7% |
| GE Gabelli Equity Tr Inc | New | +6,609,367 | +$37.4M | 1.8% |
| VM Vanguard Mun Bd Fds | New | +541,385 | +$27.4M | 1.3% |
| BT Blackrock Tax Municpal Bd Tr | Added | +1,389,024 | +$22.5M | 1.2% |
| FK Fs Kkr Cap Corp | Exited | −2,097,170 | −$21.3M | — |
| Compass Inc | Exited | −941 | −$20.3M | — |
| BO Blue Owl Technology Fin Corp | Added | +1,612,583 | +$16.7M | 1.9% |
| Invesco Municipal Trust | Trimmed | −1,637,091 | −$16.4M | 1.3% |
| C& Cohen & Steers Infrastructur | Trimmed | −554,082 | −$15.3M | 0.1% |
| Pershing Square Inc | New | +450,000 | +$14.8M | 0.7% |
Showing the 10 largest of 401 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BM Blackrock Muniholdings Fd In | Added | +8,333,674 | +$94M | 7.1% |
| BM Blackrock Muniyild Qult Fd I | Added | +5,459,910 | +$59.9M | 4.3% |
| BC Blackrock Corpor Hi Yld Fd I | New | +5,899,602 | +$50.3M | 2.5% |
| PD Pimco Dynamic Income Fd | Exited | −2,821,448 | −$50M | — |
| BM Blackrock Muniyield Fd Inc | Exited | −4,605,624 | −$48.3M | — |
| BM Blackrock Muni Income Tr Ii | Exited | −3,945,514 | −$41.2M | — |
| BM Blackrock Muniyield Quality | Added | +3,502,884 | +$36.8M | 2.8% |
| BM Blackrock Mun Income Tr | Exited | −3,116,366 | −$31.3M | — |
| IT Ishares Tr | Added | +246,140 | +$26.1M | 1.8% |
| BM Blackrock Munivest Fd Ii Inc | Exited | −2,310,860 | −$25M | — |
Showing the 10 largest of 449 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| PD Pimco Dynamic Income Fd | New | +2,821,448 | +$50M | 2.4% |
| C& Cohen & Steers Infrastructur | New | +1,197,230 | +$28.9M | 1.4% |
| NA Nuveen Amt Free Mun Cr Inc F | Trimmed | −2,033,953 | −$25.7M | 0.2% |
| LA Liberty All Star Equity Fd | Added | +3,613,785 | +$22.7M | 1.7% |
| BO Blue Owl Technology Fin Corp | Added | +1,526,695 | +$22.2M | 1.3% |
| NF Nuveen Floating Rate Income | New | +2,772,908 | +$21.7M | 1.0% |
| NM Nuveen Mun Value Fd Inc | Trimmed | −2,320,541 | −$21M | 0.3% |
| BC Blackrock Cap Allocation Ter | New | +1,408,167 | +$19.9M | 0.9% |
| FS Fs Specialty Lending Fd | New | +1,333,125 | +$18.9M | 0.9% |
| NQ Nuveen Quality Muncp Income | Exited | −1,577,514 | −$18.4M | — |
Showing the 10 largest of 421 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NQ Nuveen Quality Muncp Income | Trimmed | −2,593,904 | −$30.3M | 1.1% |
| NA Nuveen Amt Free Qlty Mun Inc | Exited | −2,529,443 | −$27.6M | — |
| PM Pimco Mun Income Fd Ii | Added | +3,211,830 | +$25.4M | 2.4% |
| BM Blackrock Multi Sector Inc T | New | +1,748,396 | +$23.4M | 1.3% |
| NM Nuveen Mun Value Fd Inc | Trimmed | −2,363,285 | −$21.2M | 1.5% |
| AI Abrdn Income Credit Strategi | Trimmed | −3,339,783 | −$19.4M | 0.1% |
| PM Pimco Mun Income Fd Iii | Exited | −2,673,813 | −$18.3M | — |
| NA Nuveen Amt Free Mun Cr Inc F | Trimmed | −1,321,643 | −$16.2M | 1.6% |
| AT Abrdn Total Dynamic Dividend | Trimmed | −1,686,660 | −$16M | 0.3% |
| PC Pimco Calif Mun Income Fd | Added | +1,563,593 | +$13.6M | 1.2% |
Showing the 10 largest of 471 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BH Blackrock Health Sciences Te | Exited | −2,036,349 | −$30.3M | — |
| NQ Nuveen Quality Muncp Income | Trimmed | −2,267,379 | −$25.6M | 2.6% |
| NM Nuveen Mun Value Fd Inc | Trimmed | −2,420,415 | −$21M | 2.6% |
| BM Bny Mellon Mun Income Inc | Exited | −2,614,908 | −$18.8M | — |
| NM Nuveen Municipal Credit Inc | Trimmed | −1,505,088 | −$17.9M | 0.5% |
| BC Blackrock Cap Allocation Ter | Trimmed | −1,095,398 | −$16.6M | 0.2% |
| NC Nuveen Ca Qualty Mun Income | Exited | −1,379,388 | −$15.5M | — |
| CT Cornerstone Total Return Fd | New | +1,954,887 | +$15.2M | 0.8% |
| NA Nuveen Amt Free Qlty Mun Inc | Trimmed | −1,379,369 | −$15.1M | 1.5% |
| CS Cornerstone Strategic Invest | New | +1,803,392 | +$14.6M | 0.8% |
Showing the 10 largest of 241 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BC Blackrock Cap Allocation Ter | Trimmed | −1,780,833 | −$25.6M | 1.1% |
| BE Blackrock Esg Cap Allc Term | Trimmed | −1,370,994 | −$21.6M | 1.1% |
| NQ Nuveen Quality Muncp Income | Trimmed | −1,869,597 | −$21.5M | 3.9% |
| NA Nuveen Amt Free Qlty Mun Inc | Trimmed | −1,586,819 | −$17.8M | 2.3% |
| NA Nuveen Amt Free Mun Cr Inc F | Trimmed | −1,193,952 | −$14.8M | 2.9% |
| BM Blackrock Munihldngs Cali Ql | Trimmed | −1,356,110 | −$14.5M | 0.8% |
| Sk Growth Opportunities Corp | Exited | −1,000,000 | −$11.6M | — |
| NC Nuveen Ca Qualty Mun Income | Trimmed | −1,026,255 | −$11.5M | 0.8% |
| NM Nuveen Municipal Credit Inc | Trimmed | −856,238 | −$10.5M | 1.5% |
| NM Nuveen Mun Value Fd Inc | Trimmed | −1,141,682 | −$10M | 3.6% |
Showing the 10 largest of 255 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BM Blackrock Municipal Income | Trimmed | −2,485,426 | −$30.1M | 0.2% |
| AT Abrdn Total Dynamic Dividend | New | +3,126,583 | +$26.3M | 1.3% |
| Invesco Municipal Trust | Added | +2,194,077 | +$21.5M | 1.8% |
| IM Invesco Mun Opportunity Tr | Added | +1,907,773 | +$18.5M | 2.0% |
| NA Nuveen Amt Free Qlty Mun Inc | Trimmed | −1,331,654 | −$15M | 3.0% |
| NM Nuveen Mun Value Fd Inc | Added | +1,455,687 | +$12.5M | 3.7% |
| IT Invesco Tr Invt Grade Muns | Added | +1,228,240 | +$12.4M | 1.4% |
| PM Pimco Mun Income Fd Ii | New | +1,471,926 | +$11.9M | 0.6% |
| NA Nuveen Amt Free Mun Cr Inc F | Added | +943,447 | +$11.6M | 3.3% |
| Graf Global Corp | New | +1,100,000 | +$11.1M | 0.5% |
Showing the 10 largest of 297 changes.
quarter ended September 30, 2024 · filed December 03, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NP Nuveen Pfd & Income Opportun | Exited | −5,055,008 | −$37.8M | — |
| AI Abrdn Income Credit Strategi | New | +4,123,676 | +$27.3M | 1.3% |
| SC Saba Capital Income & Opport | New | +3,088,302 | +$26.3M | 1.3% |
| SC Saba Capital Income & Opport | Exited | −3,328,907 | −$26M | — |
| BC Blackrock Cap Allocation Ter | Trimmed | −1,205,942 | −$19.8M | 2.8% |
| NA Nuveen Amt Free Qlty Mun Inc | Trimmed | −1,123,337 | −$13.4M | 3.9% |
| EV Eaton Vance Mun Bd Fd | Trimmed | −1,200,274 | −$12.9M | 0.5% |
| Graf Global Corp | New | +1,100,000 | +$11M | 0.5% |
| CS Cornerstone Strategic Value | Trimmed | −1,407,864 | −$10.8M | 0.2% |
| NA Nuveen Amt Free Mun Cr Inc F | Trimmed | −782,920 | −$10.5M | 3.0% |
Showing the 10 largest of 290 changes.
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