Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (3 quarters reported)
$581M in Q4 2025 → $605M 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 |
|---|---|---|---|---|
| Centuri Holdings Inc | 11.0% | Added 24% | 2,196,660 | $66.4M |
| Or Royalties Inc. | 10.1% | Added 49% | 1,923,700 | $60.8M |
| Golar Lng Ltd | 9.0% | Trimmed 9.3% | 1,097,502 | $54.7M |
| Dnow Inc | 7.7% | Added 9.4% | 3,607,059 | $46.8M |
| Standardaero Inc | 7.5% | Added 71% | 1,521,900 | $45.5M |
| AE American Elec Pwr Co Inc | 7.4% | Added 10% | 328,923 | $45M |
| EN Entergy Corp New | 5.7% | Added 18% | 300,000 | $34.5M |
| Amazon Com Inc | 5.6% | New | 143,200 | $34.1M |
| Gfl Environmental Inc | 4.9% | Trimmed 33% | 811,300 | $29.8M |
| Ppl Corp | 4.5% | Added 0.9% | 746,800 | $27.1M |
| Smurfit Westrock PLC | 3.9% | Trimmed 52% | 515,100 | $23.8M |
| Jabil Inc | 2.5% | Trimmed 76% | 38,627 | $14.9M |
| Alamos Gold Inc | 2.3% | Trimmed 51% | 453,700 | $13.8M |
| Black Hills Corp | 2.2% | New | 178,800 | $13.3M |
| HC Hennessy Cap Invt Corp Vii | 2.1% | Unchanged | 1,222,740 | $12.8M |
| Evergy Inc | 2.0% | Trimmed 5.5% | 141,100 | $12.2M |
| SG Southwest Gas Hldgs Inc | 1.8% | Trimmed 28% | 120,146 | $10.7M |
| Metals Acquisition Corp Ii | 1.6% | Unchanged | 900,000 | $9.86M |
| Berto Acquisition Corp | 1.6% | Unchanged | 897,745 | $9.42M |
| FN Fidelity Natl Information Sv | 1.5% | Unchanged | 237,925 | $9.25M |
| IE Infinite Eagle Acquisition C | 1.0% | Unchanged | 600,000 | $6.15M |
| Egh Acquisition Corp. | 0.8% | Unchanged | 487,810 | $5.02M |
| Amentum Holdings Inc | 0.6% | New | 186,200 | $3.85M |
| CC Churchill Capital Corp Ix | 0.5% | Unchanged | 280,938 | $3.06M |
| Irenic Acquisition Corp | 0.5% | New | 300,000 | $3.05M |
| AA Ares Acquisition Corp Iii | 0.5% | New | 300,000 | $3.02M |
| A& Agriculture & Nat Sol Acq Co | 0.5% | New | 250,000 | $2.86M |
| GC General Catalyst Gbl Resil M | 0.2% | New | 100,000 | $1.03M |
| Safeguard Acquisition Corp | 0.2% | Unchanged | 100,000 | $1.02M |
| GP General Purp Acquisition Cor | 0.2% | Unchanged | 100,000 | $1.01M |
| CC Churchill Cap Corp Xi | 0.1% | Unchanged | 22,500 | $407K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 2 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Jabil Inc | Trimmed | −122,573 | −$47.2M | 2.5% |
| Amazon Com Inc | New | +143,200 | +$34.1M | 5.6% |
| Smurfit Westrock PLC | Trimmed | −561,400 | −$26M | 3.9% |
| Or Royalties Inc. | Added | +628,800 | +$19.9M | 10.1% |
| Standardaero Inc | Added | +632,300 | +$18.9M | 7.5% |
| Cms Energy Corp | Exited | −219,500 | −$17M | — |
| Gfl Environmental Inc | Trimmed | −399,800 | −$14.7M | 4.9% |
| Alamos Gold Inc | Trimmed | −469,500 | −$14.2M | 2.3% |
| Black Hills Corp | New | +178,800 | +$13.3M | 2.2% |
| Centuri Holdings Inc | Added | +425,203 | +$12.9M | 11.0% |
Showing the 10 largest of 23 changes.
quarter ended March 31, 2026 · filed May 04, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CE Cenovus Energy Inc | Exited | −2,412,600 | −$40.8M | — |
| Royal Gold Inc | Exited | −114,100 | −$25.4M | — |
| Centerra Gold Inc | Exited | −1,611,204 | −$23.2M | — |
| Or Royalties Inc. | Added | +596,000 | +$22.7M | 8.1% |
| Evergy Inc | Trimmed | −224,600 | −$18.4M | 2.0% |
| Standardaero Inc | Added | +704,000 | +$18.2M | 3.8% |
| FN Fidelity Natl Information Sv | Trimmed | −380,425 | −$17.8M | 1.8% |
| Smurfit Westrock PLC | Added | +431,900 | +$17.2M | 7.0% |
| PS Public Svc Enterprise Grp | Exited | −213,722 | −$17.2M | — |
| Gfl Environmental Inc | Added | +374,000 | +$15.6M | 8.3% |
Showing the 10 largest of 30 changes.
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