CIK 1281084
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. 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 |
|---|---|---|
| Communications Equipment | 50.34% | 1 |
| Diversified Telecommunication Services | 26.35% | 1 |
| Transportation Infrastructure | 11.79% | 1 |
| Household Durables | 4.50% | 1 |
| Unclassified | 3.78% | 1 |
| Machinery | 3.24% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | VISN | Vistance Networks, Inc. | Information Technology | 50.34% |
| 2 | ECHO | EchoStar CORP | Communication Services | 26.35% |
| 3 | GBTG | Global Business Travel Group, Inc. | Industrials | 11.79% |
| 4 | MBC | MasterBrand, Inc. | Consumer Discretionary | 4.50% |
| 5 | BITFARMS LTD | Unclassified | 3.78% | |
| 6 | AMBP | Ardagh Metal Packaging S.A. | Industrials | 3.24% |
5/6 names classified · sector 96.2% of weight · industry 96.2% · mkt cap 93.0%; 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: 96.2% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 66.6% of book weight (3/6 names) · unclassified 33.4%: ECHO, , AMBP. 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 | VISNCOMMSCOPE HLDG CO INC | 10,208,303 | $186M | 50.3% | ADD 4% |
| 2 | ECHOECHOSTAR CORP | 830,655 | $97M | 26.3% | TRIM −43% |
| 3 | GBTGGLOBAL BUSINESS TRAVEL GROUP | 7,800,000 | $44M | 11.8% | ADD 9% |
| 4 | MBCMASTERBRAND INC | 2,000,000 | $17M | 4.5% | NEW |
| 5 | BITFARMS LTD | 7,150,000 | $14M | 3.8% | NEW |
| 6 | AMBPARDAGH METAL PACKAGING S A | 2,955,738 | $12M | 3.2% | TRIM −45% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| VISNCOMMSCOPE HLDG CO INC | 2.7M | 4.3M | 10.0M | 10.4M | 9.8M | 10.2M | $186M |
| ECHOECHOSTAR CORP | 2.9M | 2.9M | — | 2.6M | 1.4M | 831K | $97M |
| GBTGGLOBAL BUSINESS TRAVEL GROUP | — | — | — | 7.1M | 7.1M | 7.8M | $44M |
| MBCMASTERBRAND INC | — | — | — | — | — | 2.0M | $17M |
| BITFARMS LTD | — | — | — | — | — | 7.2M | $14M |
| AMBPARDAGH METAL PACKAGING S A | — | — | — | 975K | 5.3M | 3.0M | $12M |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
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