Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$526M in Q2 2013 → $4.34B 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 |
|---|---|---|---|---|
| Welltower Inc | 5.9% | Added 0.4% | 1,123,925 | $255M |
| Nisource Inc | 4.7% | Trimmed 17% | 4,277,259 | $203M |
| Eversource Energy | 4.5% | Trimmed 19% | 2,691,701 | $195M |
| KG Kodiak Gas Svcs Inc | 4.4% | Added 6.3% | 2,530,838 | $190M |
| Xcel Energy Inc | 4.3% | Trimmed 12% | 2,323,610 | $187M |
| TR Targa Res Corp | 4.0% | Trimmed 18% | 654,500 | $175M |
| PG&E Corp | 3.8% | Added 54% | 9,884,115 | $166M |
| Madison Air Solutions Corp | 3.7% | New | 4,150,810 | $162M |
| Ppl Corp | 3.3% | New | 3,922,800 | $143M |
| KM Kinder Morgan Inc Del | 3.3% | Trimmed 22% | 4,445,100 | $142M |
| AR Agree Rlty Corp | 3.2% | Trimmed 44% | 1,843,300 | $140M |
| Forgent Power Solutions Inc | 2.9% | Added 16% | 2,271,217 | $127M |
| Cheniere Energy Inc | 2.6% | Added 753% | 469,000 | $112M |
| Sempra | 2.0% | Added 31% | 918,800 | $85.2M |
| Mge Energy Inc | 1.9% | New | 1,000,000 | $81.5M |
| Idacorp Inc | 1.6% | Trimmed 36% | 460,562 | $69.7M |
| Janus Living Inc | 1.4% | Added 274% | 2,150,000 | $61.8M |
| Parker-hannifin Corp | 1.4% | Added 146% | 61,500 | $60.2M |
| Caretrust REIT Inc | 1.4% | Trimmed 1.0% | 1,471,155 | $59.4M |
| PG&E Corp Call | 1.3% | Added 550% | 3,250,000 | $54.7M |
| Ge Vernova Inc | 1.2% | Added 487% | 44,000 | $51.7M |
| EN Entergy Corp New | 1.2% | Trimmed 52% | 450,000 | $51.7M |
| WM Waste Mgmt Inc Del | 1.2% | Added 96% | 225,000 | $50.1M |
| Autozone Inc | 1.1% | Added 203% | 15,150 | $48.4M |
| Bkv Corp | 1.1% | Trimmed 14% | 1,673,167 | $45.8M |
| Core & Main Inc | 1.0% | Added 117% | 933,357 | $45M |
| NH National Healthcare Pptys In | 1.0% | New | 3,032,511 | $44.4M |
| YW York Wtr Co | 1.0% | Added 94% | 1,419,877 | $43.5M |
| DR Digital Rlty Tr Inc | 1.0% | New | 237,500 | $42.7M |
| MM Modine Mfg Co | 1.0% | New | 158,830 | $42.4M |
| Kinetik Holdings Inc | 0.9% | Added 529% | 838,050 | $40.5M |
| Hess Midstream LP | 0.9% | Added 233% | 997,643 | $37.5M |
| DE Devon Energy Corp New | 0.8% | New | 880,900 | $36.4M |
| Mastec Inc | 0.8% | New | 85,000 | $35.4M |
| Crh PLC | 0.8% | Trimmed 18% | 330,000 | $35.3M |
| H2o America | 0.7% | Trimmed 49% | 513,500 | $31.2M |
| American Healthcare REIT Inc | 0.7% | New | 565,372 | $29.5M |
| Rollins Inc | 0.7% | Added 367% | 700,000 | $29.2M |
| Pentair PLC | 0.7% | Added 88% | 375,000 | $28.7M |
| Standardaero Inc | 0.6% | Added 9.4% | 930,200 | $27.8M |
| E Erock Inc | 0.6% | New | 1,891,745 | $27.4M |
| Ryan Specialty Holdings Inc | 0.6% | Trimmed 17% | 725,000 | $27.4M |
| Genuine Parts Co | 0.6% | Added 80% | 225,000 | $26.5M |
| Itt Inc | 0.6% | Added 160% | 130,000 | $25.7M |
| GH Generac Hldgs Inc | 0.6% | Added 58% | 86,300 | $25.3M |
| Fervo Energy Co | 0.6% | New | 845,000 | $24.7M |
| Usa Rare Earth Inc | 0.6% | Trimmed 1.7% | 1,132,220 | $24.4M |
| Cummins Inc | 0.6% | Added 36% | 34,100 | $24.3M |
| Builders Firstsource Inc | 0.5% | Trimmed 21% | 262,500 | $23.5M |
| PW Pinnacle West Cap Corp | 0.5% | Trimmed 56% | 217,555 | $23.3M |
| X-energy Inc | 0.5% | New | 1,244,674 | $22.9M |
| Emcor Group Inc | 0.5% | Trimmed 21% | 27,500 | $22.8M |
| Legence Corp | 0.5% | New | 247,500 | $21.1M |
| Sysco Corp | 0.5% | Added 213% | 250,000 | $20.9M |
| JR James Riv Group Holdings Inc | 0.5% | Added 0.7% | 4,623,685 | $20.3M |
| Terawulf Inc | 0.4% | Added 502% | 789,000 | $19.5M |
| Rbc Bearings Inc | 0.4% | New | 30,000 | $19.3M |
| Corpay Inc | 0.4% | Trimmed 9.5% | 50,700 | $16.9M |
| Loar Holdings Inc | 0.4% | Trimmed 65% | 200,000 | $16.1M |
| PS Primoris Svcs Corp | 0.4% | New | 159,500 | $15.8M |
Showing top 60 of 121 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 |
|---|---|---|---|---|
| Madison Air Solutions Corp | New | +4,150,810 | +$162M | 3.7% |
| Ppl Corp | New | +3,922,800 | +$143M | 3.3% |
| Txnm Energy Inc | Exited | −95,022,000 | −$127M | — |
| AR Agree Rlty Corp | Trimmed | −1,453,114 | −$110M | 3.2% |
| Cheniere Energy Inc | Added | +414,000 | +$99M | 2.6% |
| Wec Energy Group Inc | Exited | −833,814 | −$96.5M | — |
| Txnm Energy Inc | Exited | −1,532,247 | −$89.6M | — |
| Mge Energy Inc | New | +1,000,000 | +$81.5M | 1.9% |
| PG&E Corp | Added | +3,464,010 | +$58.3M | 3.8% |
| KD Kratos Defense & Sec Solutio | Exited | −783,148 | −$55.2M | — |
Showing the 10 largest of 162 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AR Agree Rlty Corp | New | +3,296,414 | +$248M | 6.0% |
| Kinetik Holdings Inc | Trimmed | −2,602,250 | −$126M | 0.2% |
| KG Kodiak Gas Svcs Inc | Trimmed | −1,889,637 | −$110M | 3.3% |
| AD Adt Inc Del | Exited | −12,365,246 | −$99.8M | — |
| Wec Energy Group Inc | New | +833,814 | +$96.5M | 2.3% |
| EN Entergy Corp New | Trimmed | −733,400 | −$82.4M | 2.5% |
| Cheniere Energy Inc | Trimmed | −254,200 | −$72.1M | 0.4% |
| Ameren Corp | Exited | −713,945 | −$71.3M | — |
| Sempra | Trimmed | −709,700 | −$69M | 1.6% |
| Nisource Inc | Added | +1,272,859 | +$59.4M | 5.8% |
Showing the 10 largest of 162 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| PG&E Corp | Exited | −10,500,000 | −$297M | — |
| EN Entergy Corp New | New | +1,661,973 | +$154M | 4.0% |
| AE American Elec Pwr Co Inc | Exited | −897,134 | −$101M | — |
| TR Targa Res Corp | Trimmed | −544,917 | −$101M | 3.8% |
| Kinetik Holdings Inc | New | +2,735,400 | +$98.6M | 2.6% |
| Txnm Energy Inc | Trimmed | −1,526,911 | −$89.9M | 2.9% |
| Nisource Inc | Trimmed | −2,016,883 | −$84.2M | 4.3% |
| Centerpoint Energy Inc | Trimmed | −1,710,200 | −$65.6M | 1.0% |
| Cheniere Energy Inc | Added | +296,700 | +$57.7M | 1.6% |
| Black Hills Corp | Trimmed | −823,986 | −$57.2M | 0.5% |
Showing the 10 largest of 182 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Nisource Inc | Added | +5,611,983 | +$243M | 5.5% |
| AE American Elec Pwr Co Inc | Trimmed | −1,656,798 | −$186M | 2.2% |
| PG&E Corp | Added | +5,000,000 | +$141M | 6.4% |
| KM Kinder Morgan Inc Del | Added | +3,885,000 | +$110M | 3.7% |
| Viper Energy Inc | Exited | −2,440,000 | −$93M | — |
| Xcel Energy Inc | Trimmed | −968,300 | −$78.1M | 4.3% |
| Sempra | Trimmed | −860,116 | −$77.4M | 1.7% |
| Idacorp Inc | New | +537,500 | +$71M | 1.5% |
| Viper Energy Inc | New | +1,840,000 | +$70.3M | 1.5% |
| Black Hills Corp | Added | +1,050,020 | +$64.7M | 1.5% |
Showing the 10 largest of 205 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Eversource Energy | Added | +4,285,800 | +$273M | 6.1% |
| Txnm Energy Inc | New | +3,615,003 | +$201M | 4.4% |
| Centerpoint Energy Inc | New | +4,165,800 | +$153M | 3.3% |
| Firstenergy Corp | Exited | −3,433,826 | −$139M | — |
| Txnm Energy Inc | New | +95,022,000 | +$123M | 2.7% |
| HE Hawaiian Elec Industries | Trimmed | −9,560,778 | −$102M | 0.9% |
| Dominion Energy Inc | Exited | −1,728,500 | −$96.9M | — |
| Welltower Inc | Trimmed | −609,103 | −$93.6M | 4.2% |
| DE Duke Energy Corp New | Trimmed | −773,200 | −$91.2M | 1.9% |
| Ge Vernova Inc | Trimmed | −165,700 | −$87.7M | 0.2% |
Showing the 10 largest of 215 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Boeing Co | Exited | −2,224,500 | −$394M | — |
| AE American Elec Pwr Co Inc | Added | +2,294,844 | +$251M | 6.7% |
| Welltower Inc | Trimmed | −1,472,946 | −$226M | 5.4% |
| GA Gallagher Arthur J & Co | Exited | −750,000 | −$213M | — |
| Txnm Energy Inc | Exited | −3,372,304 | −$166M | — |
| Evergy Inc | Trimmed | −2,150,892 | −$148M | 2.0% |
| Ryan Specialty Holdings Inc | Trimmed | −1,737,500 | −$128M | 2.7% |
| TR Targa Res Corp | Trimmed | −553,900 | −$111M | 4.2% |
| PG&E Corp | New | +6,000,000 | +$103M | 1.9% |
| Kinetik Holdings Inc | New | +1,966,187 | +$102M | 1.9% |
Showing the 10 largest of 209 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Boeing Co | New | +2,224,500 | +$394M | 6.8% |
| PW Pinnacle West Cap Corp | Exited | −2,899,676 | −$257M | — |
| Xcel Energy Inc | Added | +3,454,700 | +$233M | 4.3% |
| Nisource Inc | Trimmed | −6,269,590 | −$230M | 0.2% |
| Cheniere Energy Inc | Trimmed | −996,338 | −$214M | 0.5% |
| GA Gallagher Arthur J & Co | New | +750,000 | +$213M | 3.7% |
| PG&E Corp | Added | +9,314,624 | +$188M | 4.4% |
| Ameren Corp | Trimmed | −1,927,174 | −$172M | 1.6% |
| Wec Energy Group Inc | Exited | −958,294 | −$92.2M | — |
| Cms Energy Corp | New | +1,337,928 | +$89.2M | 1.5% |
Showing the 10 largest of 189 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Eversource Energy | Trimmed | −4,824,483 | −$328M | 0.7% |
| Xcel Energy Inc | Trimmed | −2,813,625 | −$184M | 0.3% |
| DE Duke Energy Corp New | New | +1,442,000 | +$166M | 3.0% |
| HE Hawaiian Elec Industries | New | +15,000,000 | +$145M | 2.6% |
| Enbridge Inc | Trimmed | −3,110,400 | −$126M | 0.1% |
| UN Ugi Corp New | Exited | −5,314,367 | −$122M | — |
| Evergy Inc | Trimmed | −1,689,704 | −$105M | 4.7% |
| Ameren Corp | Trimmed | −1,129,023 | −$98.7M | 4.7% |
| Black Hills Corp | New | +1,576,795 | +$96.4M | 1.8% |
| Diamondback Energy Inc | New | +510,000 | +$87.9M | 1.6% |
Showing the 10 largest of 178 changes.
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