CIK 1259927
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q2. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Unclassified | 68.11% | 3 |
| Pharmaceuticals & Biotechnology | 15.48% | 2 |
| Utilities | 11.47% | 1 |
| Health Care Equipment & Supplies | 4.94% | 3 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | XBP GLOBAL HOLDINGS INC | Unclassified | 64.89% | |
| 2 | HYPD | HYPERION DEFI, INC. | Health Care | 15.28% |
| 3 | NEXT | NextDecade Corp | Utilities | 11.47% |
| 4 | DRIO | DarioHealth Corp. | Health Care | 2.68% |
| 5 | VBIO | TIVIC HEALTH SYSTEMS INC | Unclassified | 1.95% |
| 6 | FRGE | FORGE GLOBAL HOLDINGS INC | Unclassified | 1.28% |
| 7 | XAIR | Beyond Air, Inc. | Health Care | 1.26% |
| 8 | OBIO | Orchestra BioMed Holdings, Inc. | Health Care | 1.00% |
| 9 | RANI | Rani Therapeutics Holdings, Inc. | Health Care | 0.21% |
6/9 names classified · sector 31.9% of weight · industry 31.9% · mkt cap 31.9%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 31.9% of the book is sector-classified (unclassified names shown, never dropped).
Only 3% of book weight classified — the grid is NOT representative of the whole book.
Classified: 2.7% of book weight (1/9 names) · unclassified 97.3%: , HYPD, NEXT, VBIO, FRGE, XAIR, OBIO, RANI. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | XBP GLOBAL HOLDINGS INC | 12,107,907 | $10M | 64.9% | NEW |
| 2 | HYPDHYPERION DEFI INC | 240,124 | $2M | 15.3% | NEW |
| 3 | NEXTNEXTDECADE CORP | 254,270 | $2M | 11.5% | HOLD |
| 4 | DRIODARIOHEALTH CORP | 23,246 | $403,318 | 2.7% | TRIM −95% |
| 5 | VBIOTIVIC HEALTH SYSTEMS INC | 101,638 | $293,734 | 2.0% | NEW |
| 6 | FRGEFORGE GLOBAL HOLDINGS INC | 11,363 | $192,035 | 1.3% | HOLD |
| 7 | XAIRBEYOND AIR INC | 81,950 | $189,305 | 1.3% | TRIM −95% |
| 8 | OBIOORCHESTRA BIOMED HLDGS INC | 60,869 | $150,955 | 1.0% | HOLD |
| 9 | RANIRANI THERAPEUTICS HLDGS INC | 62,887 | $31,431 | 0.2% | HOLD |
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