CIK 1438129
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2017-Q2. 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 | 88.99% | 39 |
| Equity Real Estate Investment Trusts (REITs) | 6.92% | 6 |
| Semiconductors & Semiconductor Equipment | 1.48% | 1 |
| Oil, Gas & Consumable Fuels | 1.33% | 1 |
| Utilities | 1.28% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | STEEL PARTNERS HLDGS L P | Unclassified | 18.10% | |
| 2 | THIRD PT REINS LTD | Unclassified | 7.75% | |
| 3 | EZU | ISHARES INC MSCI EURZONE ETF | Unclassified | 6.10% |
| 4 | GLD | SPDR GOLD TR | Unclassified | 5.86% |
| 5 | EUFN | ISHARES TR MSCI EURO FL ETF | Unclassified | 4.59% |
| 6 | KRE | SPDR SERIES TRUST | Unclassified | 3.10% |
| 7 | DXJ | WISDOMTREE TR | Unclassified | 3.07% |
| 8 | KITE PHARMA INC | Unclassified | 1.55% | |
| 9 | ALERE INC | Unclassified | 1.55% | |
| 10 | AKORN INC | Unclassified | 1.54% |
9/48 names classified · sector 11.0% of weight · industry 11.0% · mkt cap 11.0%; 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: 11.0% 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: 7.3% of book weight (6/17 names) · unclassified 92.7%: , EZU, GLD, EUFN, KRE, DXJ, MPLX, EPD, RWT, GDX +1 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 | STEEL PARTNERS HLDGS L P | 2,362,885 | $43M | 18.1% | HOLD |
| 2 | THIRD PT REINS LTD | 1,190,163 | $19M | 7.8% | TRIM −8% |
| 3 | EZUISHARES INC MSCI EURZONE ETF | 337,500 | $15M | 6.1% | HOLD |
| 4 | GLDSPDR GOLD TR | 115,487 | $14M | 5.9% | TRIM −17% |
| 5 | EUFNISHARES TR MSCI EURO FL ETF | 468,200 | $11M | 4.6% | ADD 50% |
| 6 | KRESPDR SERIES TRUST | 130,800 | $7M | 3.1% | HOLD |
| 7 | DXJWISDOMTREE TR | 134,600 | $7M | 3.1% | HOLD |
| 8 | KITE PHARMA INC | 20,700 | $4M | 1.6% | NEW |
| 9 | ALERE INC | 72,800 | $4M | 1.6% | ADD 6% |
| 10 | AKORN INC | 111,200 | $4M | 1.5% | NEW |
| 11 | STRAIGHT PATH COMMUNICATNS I | 20,400 | $4M | 1.5% | ADD 5% |
| 12 | NXSTAGE MEDICAL INC | 132,900 | $4M | 1.5% | NEW |
| 13 | MONSANTO CO NEW | 30,600 | $4M | 1.5% | ADD 12% |
| 14 | BROCADE COMMUNICATIONS SYS I | 305,700 | $4M | 1.5% | ADD 23% |
| 15 | WGL HLDGS INC | 42,800 | $4M | 1.5% | ADD 15% |
| 16 | NXPINXP SEMICONDUCTORS N V | 31,400 | $4M | 1.5% | HOLD |
| 17 | TRIBUNE MEDIA CO | 86,500 | $4M | 1.5% | NEW |
| 18 | ENABLE MIDSTREAM PARTNERS LP | 207,900 | $3M | 1.4% | TRIM −10% |
| 19 | RICE MIDSTREAM PARTNERS LP | 156,500 | $3M | 1.4% | ADD 137% |
| 20 | SHELL MIDSTREAM PARTNERS L P | 115,800 | $3M | 1.3% | NEW |
| 21 | EQT MIDSTREAM PARTNERS LP | 42,700 | $3M | 1.3% | NEW |
| 22 | MPLXMPLX LP | 90,900 | $3M | 1.3% | TRIM −10% |
| 23 | WILLIAMS PARTNERS L P NEW | 81,700 | $3M | 1.3% | HOLD |
| 24 | VALERO ENERGY PARTNERS LP | 71,826 | $3M | 1.3% | ADD 114% |
| 25 | DCP MIDSTREAM LP | 89,600 | $3M | 1.3% | TRIM −13% |
| 26 | SPECTRA ENERGY PARTNERS LP | 69,800 | $3M | 1.3% | TRIM −8% |
| 27 | BUCKEYE PARTNERS L P | 54,200 | $3M | 1.3% | HOLD |
| 28 | EPDENTERPRISE PRODS PARTNERS L | 117,500 | $3M | 1.3% | HOLD |
| 29 | ANTERO MIDSTREAM PARTNERS LP | 94,200 | $3M | 1.2% | HOLD |
| 30 | Apollo Global Mgmt. LLC | 96,500 | $3M | 1.2% | HOLD |
| 31 | BLACKSTONE GROUP LP | 85,400 | $3M | 1.2% | HOLD |
| 32 | BROOKFIELD ASSET MGMT INC | 68,600 | $3M | 1.2% | HOLD |
| 33 | RITMRITHM CAPITAL CORP | 167,500 | $3M | 1.2% | ADD 19% |
| 34 | KKR & CO LP | 137,200 | $3M | 1.2% | HOLD |
| 35 | PMTPENNYMAC MTG INVT TR | 160,000 | $3M | 1.2% | ADD 14% |
| 36 | TWO HARBORS INVESTMENT CORP | 276,033 | $3M | 1.2% | ADD 8% |
| 37 | ARIAPOLLO COML REAL EST FIN INC | 152,500 | $3M | 1.2% | ADD 17% |
| 38 | BXMTBLACKSTONE MTG TR INC | 88,900 | $3M | 1.2% | ADD 15% |
| 39 | MFA FINL INC | 313,400 | $3M | 1.1% | ADD 6% |
| 40 | RWTREDWOOD TRUST INC | 168,300 | $3M | 1.1% | ADD 17% |
| 41 | STWDSTARWOOD PPTY TR INC | 125,629 | $3M | 1.1% | ADD 21% |
| 42 | OAKTREE CAP GROUP LLC | 57,200 | $3M | 1.1% | HOLD |
| 43 | CHIMERA INVT CORP | 141,575 | $3M | 1.1% | HOLD |
| 44 | INVESCO MORTGAGE CAPITAL INC | 155,200 | $3M | 1.1% | HOLD |
| 45 | The Carlyle Group | 111,800 | $3M | 1.1% | TRIM −23% |
| 46 | GDXVANECK ETF TRUST GOLD MINERS ETF | 80,200 | $2M | 0.8% | ADD 123% |
| 47 | GDXJVANECK ETF TRUST | 54,600 | $2M | 0.8% | TRIM −35% |
| 48 | SKY SOLAR HLDGS LTD | 531,846 | $953,000 | 0.4% | HOLD |
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