CIK 1377635
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 |
|---|---|---|
| Unclassified | 89.90% | 5 |
| Oil, Gas & Consumable Fuels | 10.02% | 1 |
| Semiconductors & Semiconductor Equipment | 0.08% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | IAU | ISHARES GOLD TR | Unclassified | 39.05% |
| 2 | RSP | INVESCO EXCHANGE TRADED FD T | Unclassified | 35.37% |
| 3 | BTC | GRAYSCALE BITCOIN MINI TR ET | Unclassified | 15.19% |
| 4 | WBI | WaterBridge Infrastructure LLC | Energy | 10.02% |
| 5 | SPY | STATE STR SPDR S&P 500 ETF T | Unclassified | 0.20% |
| 6 | ACWI | ISHARES TR | Unclassified | 0.09% |
| 7 | NVDA | NVIDIA CORP | Information Technology | 0.08% |
2/7 names classified · sector 10.1% of weight · industry 10.1% · mkt cap 0.1%; 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: 10.1% of the book is sector-classified (unclassified names shown, never dropped).
Only 0% of book weight classified — the grid is NOT representative of the whole book.
Classified: 0.1% of book weight (1/7 names) · unclassified 99.9%: IAU, RSP, BTC, WBI, SPY, ACWI. 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 | IAUISHARES GOLD TR | 1,184,463 | $104M | 39.1% | HOLD |
| 2 | RSPINVESCO EXCHANGE TRADED FD T | 492,740 | $95M | 35.4% | NEW |
| 3 | BTCGRAYSCALE BITCOIN MINI TR ET | 1,354,148 | $41M | 15.2% | ADD 32% |
| 4 | WBIWATERBRIDGE INFRASTRUCTURE L | 1,000,000 | $27M | 10.0% | HOLD |
| 5 | SPYSTATE STR SPDR S&P 500 ETF T | 831 | $540,433 | 0.2% | HOLD |
| 6 | ACWIISHARES TR | 1,817 | $251,418 | 0.1% | HOLD |
| 7 | NVDANVIDIA CORPORATION | 1,209 | $210,850 | 0.1% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| IAUISHARES GOLD TR | — | — | — | 1.1M | 1.2M | 1.2M | $104M |
| RSPINVESCO EXCHANGE TRADED FD T | — | — | — | — | — | 493K | $95M |
| BTCGRAYSCALE BITCOIN MINI TR ET | 536K | 536K | 536K | 1.0M | 1.0M | 1.4M | $41M |
| WBIWATERBRIDGE INFRASTRUCTURE L | — | — | — | 1.0M | 1.0M | 1.0M | $27M |
| SPYSTATE STR SPDR S&P 500 ETF T | 781 | 708 | 720 | 851 | 816 | 831 | $540,433 |
| ACWIISHARES TR | 2K | 2K | 2K | 2K | 2K | 2K | $251,418 |
| NVDANVIDIA CORPORATION | 3K | 3K | 3K | 1K | 1K | 1K | $210,850 |
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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