CIK 1390113
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 |
|---|---|---|
| Airlines | 35.03% | 1 |
| Equity Real Estate Investment Trusts (REITs) | 24.99% | 2 |
| Unclassified | 20.35% | 2 |
| Diversified Telecommunication Services | 15.83% | 2 |
| Pharmaceuticals & Biotechnology | 1.14% | 1 |
| Household Durables | 1.03% | 1 |
| Chemicals | 0.99% | 1 |
| Media & Entertainment | 0.63% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | VTOL | Bristow Group Inc. | Industrials | 35.03% |
| 2 | CBL | CBL & ASSOCIATES PROPERTIES INC | Real Estate | 16.70% |
| 3 | HOLX | HOLOGIC INC | Unclassified | 14.50% |
| 4 | ECHO | EchoStar CORP | Communication Services | 11.40% |
| 5 | GNL | Global Net Lease, Inc. | Real Estate | 8.30% |
| 6 | ONESTREAM INC | Unclassified | 5.85% | |
| 7 | VSAT | VIASAT INC | Communication Services | 4.43% |
| 8 | QGEN | QIAGEN N.V. | Health Care | 1.14% |
| 9 | CODI | Compass Diversified Holdings | Consumer Discretionary | 1.03% |
| 10 | AXTA | Axalta Coating Systems Ltd. | Materials | 0.99% |
9/11 names classified · sector 79.7% of weight · industry 79.7% · mkt cap 79.7%; 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: 79.7% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 52.7% of book weight (3/11 names) · unclassified 47.3%: HOLX, ECHO, GNL, , VSAT, QGEN, CODI, OPTU. 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 | VTOLBRISTOW GROUP INC | 1,046,157 | $49M | 35.0% | TRIM −19% |
| 2 | CBLCBL & ASSOC PPTYS INC | 608,332 | $23M | 16.7% | ADD 2% |
| 3 | HOLXHOLOGIC INC | 268,535 | $20M | 14.5% | TRIM −16% |
| 4 | ECHOECHOSTAR CORP | 136,415 | $16M | 11.4% | TRIM −17% |
| 5 | GNLGLOBAL NET LEASE INC | 1,240,986 | $12M | 8.3% | HOLD |
| 6 | ONESTREAM INC | 341,528 | $8M | 5.9% | NEW |
| 7 | VSATVIASAT INC | 180,000 | $6M | 4.4% | HOLD |
| 8 | QGENQIAGEN NV | 40,000 | $2M | 1.1% | NEW |
| 9 | CODICOMPASS DIVERSIFIED | 183,793 | $1M | 1.0% | ADD 163% |
| 10 | AXTAAXALTA COATING SYS LTD | 50,000 | $1M | 1.0% | NEW |
| 11 | OPTUOPTIMUM COMMUNICATIONS INC | 676,779 | $879,813 | 0.6% | ADD 2% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| VTOLBRISTOW GROUP INC | 1.1M | 1.3M | 1.3M | 1.3M | 1.3M | 1.0M | $49M |
| CBLCBL & ASSOC PPTYS INC | 399K | 550K | 595K | 620K | 596K | 608K | $23M |
| HOLXHOLOGIC INC | — | — | 44K | 33K | 320K | 269K | $20M |
| ECHOECHOSTAR CORP | 25K | — | 282K | 244K | 165K | 136K | $16M |
| GNLGLOBAL NET LEASE INC | 1.0M | 2.1M | 2.1M | 2.2M | 1.3M | 1.2M | $12M |
| ONESTREAM INC | — | — | — | — | — | 342K | $8M |
| VSATVIASAT INC | — | 248K | 108K | 140K | 180K | 180K | $6M |
| QGENQIAGEN NV | — | — | — | — | — | 40K | $2M |
| CODICOMPASS DIVERSIFIED | — | — | — | — | 70K | 184K | $1M |
| AXTAAXALTA COATING SYS LTD | — | — | — | — | — | 50K | $1M |
| OPTUOPTIMUM COMMUNICATIONS INC | 1.3M | 1.6M | 1.2M | 1.0M | 663K | 677K | $879,813 |
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.
Where this firm's principals came from and which firms its alumni went on to found.
