CIK 1387303
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 | 88.25% | 4 |
| Automobiles & Components | 4.66% | 2 |
| Specialty Retail | 2.72% | 3 |
| Metals & Mining | 2.70% | 1 |
| Commercial Services & Supplies | 1.42% | 2 |
| Banks | 0.26% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | IAU | ISHARES GOLD TR | Unclassified | 83.01% |
| 2 | APTV | Aptiv PLC | Consumer Discretionary | 3.44% |
| 3 | GDX | VANECK ETF TRUST GOLD MINERS ETF | Unclassified | 3.28% |
| 4 | IAUX | i-80 Gold Corp. | Materials | 2.70% |
| 5 | GDXJ | VANECK ETF TRUST | Unclassified | 1.73% |
| 6 | ADNT | Adient plc | Consumer Discretionary | 1.22% |
| 7 | GPI | GROUP 1 AUTOMOTIVE INC | Consumer Discretionary | 1.20% |
| 8 | SE | Sea Ltd | Industrials | 0.81% |
| 9 | ABG | ASBURY AUTOMOTIVE GROUP INC | Consumer Discretionary | 0.77% |
| 10 | LAD | LITHIA MOTORS INC | Consumer Discretionary | 0.75% |
9/13 names classified · sector 11.8% of weight · industry 11.8% · mkt cap 10.1%; 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: 11.8% of the book is sector-classified (unclassified names shown, never dropped).
Only 7% of book weight classified — the grid is NOT representative of the whole book.
Classified: 7.4% of book weight (5/13 names) · unclassified 92.6%: IAU, GDX, IAUX, GDXJ, SE, PDD, BAP, EWZ. 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 | 1,559,604 | $137M | 83.0% | HOLD |
| 2 | APTVAPTIV PLC | 81,957 | $6M | 3.4% | ADD 6% |
| 3 | GDXVANECK ETF TRUST GOLD MINERS ETF | 59,123 | $5M | 3.3% | HOLD |
| 4 | IAUXI-80 GOLD CORP | 2,957,322 | $4M | 2.7% | HOLD |
| 5 | GDXJVANECK ETF TRUST | 23,927 | $3M | 1.7% | HOLD |
| 6 | ADNTADIENT PLC | 100,167 | $2M | 1.2% | NEW |
| 7 | GPIGROUP 1 AUTOMOTIVE INC | 5,997 | $2M | 1.2% | NEW |
| 8 | SESEA LTD | 16,150 | $1M | 0.8% | NEW |
| 9 | ABGASBURY AUTOMOTIVE GROUP INC | 6,560 | $1M | 0.8% | NEW |
| 10 | LADLITHIA MTRS INC | 4,954 | $1M | 0.7% | ADD 138% |
| 11 | PDDPDD HOLDINGS INC | 9,868 | $1M | 0.6% | NEW |
| 12 | BAPCREDICORP LTD | 1,282 | $434,829 | 0.3% | NEW |
| 13 | EWZISHARES INC MSCI BRAZIL ETF | 9,597 | $368,429 | 0.2% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| IAUISHARES GOLD TR | 1.6M | 1.6M | 1.6M | 1.6M | 1.6M | 1.6M | $137M |
| APTVAPTIV PLC | — | 26K | — | — | 77K | 82K | $6M |
| GDXVANECK ETF TRUST GOLD MINERS ETF | 59K | 59K | 59K | 59K | 59K | 59K | $5M |
| IAUXI-80 GOLD CORP | 6.0M | — | 3.0M | 3.0M | 3.0M | 3.0M | $4M |
| GDXJVANECK ETF TRUST | 41K | 41K | 41K | 41K | 24K | 24K | $3M |
| ADNTADIENT PLC | — | — | — | — | — | 100K | $2M |
| GPIGROUP 1 AUTOMOTIVE INC | — | — | — | — | — | 6K | $2M |
| SESEA LTD | — | — | — | — | — | 16K | $1M |
| ABGASBURY AUTOMOTIVE GROUP INC | — | — | 11K | 2K | — | 7K | $1M |
| LADLITHIA MTRS INC | — | — | 11K | 8K | 2K | 5K | $1M |
| PDDPDD HOLDINGS INC | 5K | — | — | — | — | 10K | $1M |
| BAPCREDICORP LTD | — | — | — | — | — | 1K | $434,829 |
| EWZISHARES INC MSCI BRAZIL ETF | 10K | 85K | 75K | 30K | 10K | 10K | $368,429 |
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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