CIK 1316622
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 |
|---|---|---|
| Diversified Telecommunication Services | 40.56% | 2 |
| Transportation Infrastructure | 20.77% | 1 |
| Insurance | 13.74% | 5 |
| Unclassified | 10.13% | 3 |
| Communications Equipment | 4.22% | 1 |
| Hotels, Restaurants & Leisure | 3.22% | 2 |
| Household Durables | 1.81% | 1 |
| Media & Entertainment | 1.80% | 1 |
| Airlines | 1.31% | 1 |
| Paper & Forest Products | 1.12% | 1 |
| Equity Real Estate Investment Trusts (REITs) | 0.77% | 1 |
| Diversified Consumer Services | 0.56% | 2 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | ECHO | EchoStar CORP | Communication Services | 31.45% |
| 2 | GBTG | Global Business Travel Group, Inc. | Industrials | 20.77% |
| 3 | AER | AERCAP HOLDINGS NV | Unclassified | 9.40% |
| 4 | TDS | TELEPHONE & DATA SYSTEMS INC /DE/ | Communication Services | 9.10% |
| 5 | MOH | MOLINA HEALTHCARE, INC. | Financials | 7.01% |
| 6 | VISN | Vistance Networks, Inc. | Information Technology | 4.22% |
| 7 | ELV | Elevance Health, Inc. | Financials | 4.21% |
| 8 | CZR | Caesars Entertainment, Inc. | Consumer Discretionary | 1.88% |
| 9 | MBC | MasterBrand, Inc. | Consumer Discretionary | 1.81% |
| 10 | OPTU | Optimum Communications, Inc. | Communication Services | 1.80% |
18/21 names classified · sector 89.9% of weight · industry 89.9% · mkt cap 87.2%; 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: 89.9% of the book is sector-classified (unclassified names shown, never dropped).
Only 41% of book weight classified — the grid is NOT representative of the whole book.
Classified: 41.3% of book weight (9/21 names) · unclassified 58.7%: ECHO, AER, TDS, CZR, OPTU, MSC, AERO, CNC, , KLC +2 more. 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 | ECHOECHOSTAR CORP | 1,584,857 | $186M | 31.5% | TRIM −30% |
| 2 | GBTGGLOBAL BUSINESS TRAVEL GROUP | 21,953,816 | $123M | 20.8% | ADD 2% |
| 3 | AERAERCAP HOLDINGS NV | 404,266 | $55M | 9.4% | TRIM −69% |
| 4 | TDSTELEPHONE & DATA SYS INC | 1,275,282 | $54M | 9.1% | ADD 45% |
| 5 | MOHMOLINA HEALTHCARE INC | 310,000 | $41M | 7.0% | ADD 182% |
| 6 | VISNCOMMSCOPE HLDG CO INC | 1,368,663 | $25M | 4.2% | NEW |
| 7 | ELVELEVANCE HEALTH INC FORMERLY | 84,800 | $25M | 4.2% | HOLD |
| 8 | CZRCAESARS ENTERTAINMENT INC NE | 420,000 | $11M | 1.9% | HOLD |
| 9 | MBCMASTERBRAND INC | 1,286,097 | $11M | 1.8% | NEW |
| 10 | OPTUOPTIMUM COMMUNICATIONS INC | 8,189,270 | $11M | 1.8% | HOLD |
| 11 | MSCSTUDIO CITY INTL HLDGS LTD | 3,239,073 | $8M | 1.3% | HOLD |
| 12 | AEROGRUPO AEROMEXICO SAB DE CV | 551,601 | $8M | 1.3% | NEW |
| 13 | UNHUNITEDHEALTH GROUP INC | 27,500 | $7M | 1.3% | HOLD |
| 14 | CNCCENTENE CORP DEL | 208,500 | $7M | 1.2% | HOLD |
| 15 | MERCMERCER INTL INC | 4,648,133 | $7M | 1.1% | HOLD |
| 16 | CBLCBL & ASSOC PPTYS INC | 117,613 | $5M | 0.8% | HOLD |
| 17 | AMERICAN WOODMARK CORPORATIO | 72,402 | $3M | 0.5% | NEW |
| 18 | KLCKINDERCARE LEARNING COMPANIE | 1,250,000 | $3M | 0.5% | NEW |
| 19 | GOCOQGOHEALTH INC | 924,244 | $1M | 0.2% | HOLD |
| 20 | EHTHEHEALTH INC | 467,395 | $602,940 | 0.1% | HOLD |
| 21 | APEIAMERICAN PUB ED INC | 10,000 | $568,800 | 0.1% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| ECHOECHOSTAR CORP | 7.1M | 6.4M | 7.9M | 5.6M | 2.3M | 1.6M | $186M |
| GBTGGLOBAL BUSINESS TRAVEL GROUP | — | — | — | 21.5M | 21.5M | 22.0M | $123M |
| AERAERCAP HOLDINGS NV | 2.0M | 1.6M | 1.4M | 1.3M | 1.3M | 404K | $55M |
| TDSTELEPHONE & DATA SYS INC | — | 570K | 870K | 877K | 877K | 1.3M | $54M |
| MOHMOLINA HEALTHCARE INC | — | — | — | 58K | 110K | 310K | $41M |
| VISNCOMMSCOPE HLDG CO INC | — | — | — | — | — | 1.4M | $25M |
| ELVELEVANCE HEALTH INC FORMERLY | — | — | — | 53K | 85K | 85K | $25M |
| CZRCAESARS ENTERTAINMENT INC NE | 320K | 320K | 320K | 320K | 420K | 420K | $11M |
| MBCMASTERBRAND INC | — | — | — | — | — | 1.3M | $11M |
| OPTUOPTIMUM COMMUNICATIONS INC | 8.2M | 8.2M | 8.2M | 8.2M | 8.2M | 8.2M | $11M |
| MSCSTUDIO CITY INTL HLDGS LTD | 3.2M | 3.2M | 3.2M | 3.2M | 3.2M | 3.2M | $8M |
| AEROGRUPO AEROMEXICO SAB DE CV | — | — | — | — | — | 552K | $8M |
| UNHUNITEDHEALTH GROUP INC | — | — | — | 28K | 28K | 28K | $7M |
| CNCCENTENE CORP DEL | — | — | — | 209K | 209K | 209K | $7M |
| MERCMERCER INTL INC | 1.7M | 1.7M | 3.4M | 4.6M | 4.6M | 4.6M | $7M |
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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