Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (11 quarters reported)
$126M in Q4 2021 → $147M 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 |
|---|---|---|---|---|
| Natural Resource Partners LP | 14.2% | Added 2.7% | 215,216 | $20.9M |
| PB Pitney Bowes Inc | 11.1% | Trimmed 16% | 934,244 | $16.4M |
| FC First Ctzns Bancshares Inc D | 9.0% | Added 0.8% | 6,329 | $13.2M |
| F& Floor & Decor Hldgs Inc | 7.6% | Added 142% | 187,534 | $11.1M |
| Black Stone Minerals L P | 5.9% | Added 7.8% | 616,921 | $8.62M |
| MD Marcus Corp Del | 5.0% | Trimmed 38% | 312,599 | $7.33M |
| Green Dot Corp | 4.3% | New | 473,023 | $6.39M |
| DW Disney Walt Co | 3.8% | Added 21% | 58,095 | $5.59M |
| Visa Inc | 3.7% | Added 4.1% | 15,820 | $5.43M |
| CR California Res Corp | 3.0% | Trimmed 1.3% | 84,510 | $4.47M |
| Sr Bancorp Inc | 2.8% | Trimmed 10% | 208,552 | $4.1M |
| GR Greenfire Res Ltd New | 2.6% | Added 0.7% | 675,236 | $3.82M |
| Netflix Inc. | 2.5% | Added 23% | 50,507 | $3.61M |
| Five Point Holdings LLC | 2.3% | Added 60% | 641,995 | $3.38M |
| EC Entravision Communications C | 2.3% | New | 258,348 | $3.37M |
| Copart Inc | 1.8% | Added 0.2% | 94,828 | $2.67M |
| Micron Technology Inc Put | 1.7% | Added 83% | 2,200 | $2.54M |
| CH Cinemark Hldgs Inc | 1.7% | Trimmed 65% | 80,004 | $2.54M |
| Douglas Elliman Inc | 1.6% | Trimmed 2.3% | 1,336,220 | $2.37M |
| Rave Restaurant Group Inc | 1.6% | Added 337% | 701,483 | $2.29M |
| IS Ishares Silver Tr Put | 1.4% | Added 0.3% | 38,100 | $2.04M |
| Walmart Inc Put | 1.2% | Trimmed 3.1% | 15,400 | $1.74M |
| Intuit | 1.1% | Added 19% | 6,370 | $1.66M |
| CH Comstock Hldg Cos Inc | 0.9% | Added 11% | 80,350 | $1.28M |
| Nvr Inc | 0.9% | Unchanged | 185 | $1.26M |
| C Corning Inc Put | 0.8% | Added 140% | 4,800 | $1.23M |
| Lifeway Foods Inc | 0.8% | New | 39,412 | $1.18M |
| Microsoft Corp | 0.7% | Unchanged | 2,900 | $1.08M |
| NI Nacco Inds Inc | 0.7% | Trimmed 0.0% | 20,626 | $1.03M |
| MP Millrose Pptys Inc | 0.6% | Trimmed 5.1% | 31,460 | $945K |
| LE Lands End Inc New | 0.6% | Trimmed 6.5% | 86,587 | $907K |
| Unitedhealth Group Inc | 0.5% | Trimmed 80% | 1,900 | $790K |
| Atlassian Corporation | 0.4% | Trimmed 82% | 8,312 | $647K |
| Natural Resource Partners LP Call | 0.3% | New | 4,000 | $388K |
| BF Bv Finl Inc | 0.2% | Trimmed 45% | 17,314 | $367K |
| Permrock Royalty Trust | 0.2% | New | 143,576 | $322K |
| Tillys Inc | 0.1% | New | 20,500 | $86.1K |
| PB Pitney Bowes Inc Call | 0.0% | Trimmed 95% | 2,000 | $35K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed July 27, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| F& Floor & Decor Hldgs Inc | Added | +110,083 | +$6.53M | 7.6% |
| Green Dot Corp | New | +473,023 | +$6.39M | 4.3% |
| CH Cinemark Hldgs Inc | Trimmed | −149,623 | −$4.75M | 1.7% |
| MD Marcus Corp Del | Trimmed | −192,173 | −$4.51M | 5.0% |
| EC Entravision Communications C | New | +258,348 | +$3.37M | 2.3% |
| Unitedhealth Group Inc | Trimmed | −7,426 | −$3.09M | 0.5% |
| PB Pitney Bowes Inc | Trimmed | −174,521 | −$3.06M | 11.1% |
| Atlassian Corporation | Trimmed | −37,513 | −$2.92M | 0.4% |
| Rave Restaurant Group Inc | Added | +541,014 | +$1.77M | 1.6% |
| Five Point Holdings LLC | Added | +239,736 | +$1.26M | 2.3% |
Showing the 10 largest of 38 changes.
quarter ended March 31, 2026 · filed May 06, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| FC First Ctzns Bancshares Inc D | Trimmed | −2,967 | −$5.59M | 8.8% |
| Netflix Inc. | New | +41,135 | +$3.96M | 2.9% |
| F& Floor & Decor Hldgs Inc | New | +77,451 | +$3.93M | 2.9% |
| DW Disney Walt Co | Added | +34,544 | +$3.33M | 3.4% |
| Alphabet Inc | Exited | −10,156 | −$3.18M | — |
| Atlassian Corporation | New | +45,825 | +$3.13M | 2.3% |
| IS Ishares Silver Tr | New | +38,000 | +$2.59M | 1.9% |
| Intuit | New | +5,365 | +$2.32M | 1.7% |
| CW Costco Whsl Corp New | Exited | −1,400 | −$1.21M | — |
| CH Cinemark Hldgs Inc | Trimmed | −41,458 | −$1.18M | 4.9% |
Showing the 10 largest of 40 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| FC First Ctzns Bancshares Inc D | Added | +5,900 | +$12.7M | 16.6% |
| PB Pitney Bowes Inc | New | +1,020,946 | +$10.8M | 9.0% |
| Jpmorgan Chase & Co. | Trimmed | −30,383 | −$9.79M | 0.5% |
| NR Natural Resource Partners L | Added | +80,655 | +$8.42M | 18.2% |
| Black Stone Minerals L P | Added | +599,981 | +$7.97M | 7.0% |
| MD Marcus Corp Del | New | +505,209 | +$7.84M | 6.5% |
| Microsoft Corp | Trimmed | −12,611 | −$6.1M | 1.0% |
| F& Floor & Decor Hldgs Inc | Exited | −65,674 | −$5.94M | — |
| Alphabet Inc | Trimmed | −15,366 | −$4.81M | 2.7% |
| CH Cinemark Hldgs Inc | Added | +199,107 | +$4.63M | 5.3% |
Showing the 10 largest of 35 changes.
quarter ended September 30, 2023 · filed November 14, 2023
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NR Natural Resource Partners L | New | +127,828 | +$10.1M | 17.7% |
| Amazon Com Inc | Trimmed | −61,591 | −$7.83M | 6.3% |
| FC First Ctzns Bancshares Inc N | Added | +2,230 | +$3.08M | 8.1% |
| Copart Inc | Added | +61,373 | +$2.64M | 10.3% |
| Microsoft Corp | Trimmed | −7,710 | −$2.43M | 8.3% |
| BA Bank America Corp | Exited | −77,129 | −$2.21M | — |
| CH Cinemark Hldgs Inc | Trimmed | −84,617 | −$1.55M | 2.3% |
| Visa Inc | Trimmed | −3,348 | −$770K | 8.6% |
| Alphabet Inc | Trimmed | −3,445 | −$451K | 5.9% |
| PF Pnc Finl Svcs Group Inc | New | +3,000 | +$368K | 0.6% |
Showing the 10 largest of 18 changes.
quarter ended June 30, 2023 · filed August 14, 2023
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Amazon Com Inc | Added | +24,468 | +$3.19M | 19.2% |
| Amazon Com Inc | Exited | −30,000 | −$3.1M | — |
| FC First Ctzns Bancshares Inc N | New | +1,115 | +$1.43M | 2.3% |
| CH Cinemark Hldgs Inc | Trimmed | −17,559 | −$290K | 4.2% |
| Microsoft Corp | Trimmed | −316 | −$108K | 12.7% |
| Copart Inc | Trimmed | −433 | −$39.5K | 11.0% |
| Goldman Sachs Group Inc | Trimmed | −113 | −$36.4K | 4.8% |
| Visa Inc | Trimmed | −119 | −$28.3K | 9.5% |
| F& Floor & Decor Hldgs Inc | Trimmed | −230 | −$23.9K | 11.6% |
| Nvr Inc | Trimmed | −3 | −$19.1K | 4.7% |
Showing the 10 largest of 16 changes.
quarter ended March 31, 2023 · filed May 15, 2023
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Visa Inc | Trimmed | −34,567 | −$7.79M | 10.4% |
| Amazon Com Inc | Trimmed | −73,367 | −$7.58M | 12.6% |
| Microsoft Corp | Trimmed | −21,361 | −$6.16M | 12.4% |
| F& Floor & Decor Hldgs Inc | Trimmed | −61,606 | −$6.05M | 12.5% |
| Nvr Inc | Trimmed | −963 | −$5.37M | 4.8% |
| Copart Inc | Trimmed | −57,835 | −$4.35M | 10.5% |
| Alphabet Inc | Trimmed | −39,260 | −$4.07M | 5.7% |
| Goldman Sachs Group Inc | Trimmed | −9,334 | −$3.05M | 5.7% |
| BA Bank America Corp | Trimmed | −101,313 | −$2.9M | 4.1% |
| Jpmorgan Chase & Co | Trimmed | −22,139 | −$2.88M | 7.8% |
Showing the 10 largest of 17 changes.
quarter ended December 31, 2022 · filed February 14, 2023
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Copart Inc | Added | +61,132 | +$3.72M | 8.5% |
| Mastercard Incorporated | Exited | −11,773 | −$3.71M | — |
| CH Cinemark Hldgs Inc | New | +328,722 | +$2.85M | 3.0% |
| Etsy Inc | Exited | −17,150 | −$1.72M | — |
| BA Bank America Corp | Added | +49,906 | +$1.65M | 6.3% |
| ST Spotify Technology S A | Exited | −16,762 | −$1.45M | — |
| Meta Platforms Inc | Trimmed | −8,941 | −$1.08M | 2.6% |
| Amazon Com Inc | Trimmed | −11,000 | −$924K | 2.9% |
| F& Floor & Decor Hldgs Inc | Added | +9,488 | +$661K | 9.6% |
| UB Us Bancorp Del | New | +13,520 | +$590K | 0.6% |
Showing the 10 largest of 18 changes.
quarter ended September 30, 2022 · filed November 14, 2022
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Alphabet Inc | Added | +64,828 | +$6.2M | 6.7% |
| Jpmorgan Chase & Co | New | +54,216 | +$5.67M | 5.8% |
| PS Pershing Square Tontine Hldg | Exited | −190,874 | −$3.8M | — |
| F& Floor & Decor Hldgs Inc | Added | +39,819 | +$2.8M | 8.7% |
| Alphabet Inc | Added | +6,026 | +$580K | 0.6% |
| Goldman Sachs Group Inc | Trimmed | −1,737 | −$509K | 5.9% |
| Amazon Com Inc | Trimmed | −3,000 | −$339K | 5.0% |
| Meta Platforms Inc | Trimmed | −2,408 | −$327K | 4.0% |
| Mastercard Incorporated | Trimmed | −320 | −$101K | 3.8% |
| Amazon Com Inc | Trimmed | −708 | −$80K | 16.2% |
Showing the 10 largest of 17 changes.
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