CIK 1512370
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2019-Q3. 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 | 82.19% | 3 |
| Utilities | 10.81% | 1 |
| Life Sciences Tools & Services | 3.79% | 1 |
| Insurance | 2.73% | 1 |
| Oil, Gas & Consumable Fuels | 0.49% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | IWM | ISHARES TR | Unclassified | 30.37% |
| 2 | FLAGSTAR BANK NATIONAL ASSOC | Unclassified | 29.01% | |
| 3 | SPY | STATE STR SPDR S&P 500 ETF T | Unclassified | 22.81% |
| 4 | CWEN | Clearway Energy, Inc. | Utilities | 10.81% |
| 5 | ILMN | ILLUMINA, INC. | Health Care | 3.79% |
| 6 | ESNT | Essent Group Ltd. | Financials | 2.73% |
| 7 | NBR | NABORS INDUSTRIES LTD | Energy | 0.49% |
4/7 names classified · sector 17.8% of weight · industry 17.8% · mkt cap 7.0%; 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: 17.8% 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: 7.0% of book weight (3/7 names) · unclassified 93.0%: IWM, , SPY, CWEN. 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 | IWMISHARES TR | 155,200 | $26M | 30.4% | NEW |
| 2 | FLAGSTAR BANK NATIONAL ASSOC | 485,137 | $25M | 29.0% | HOLD |
| 3 | SPYSTATE STR SPDR S&P 500 ETF T | 60,000 | $19M | 22.8% | NEW |
| 4 | CWENCLEARWAY ENERGY INC | 478,753 | $9M | 10.8% | NEW |
| 5 | ILMNILLUMINA INC | 9,661 | $3M | 3.8% | HOLD |
| 6 | ESNTESSENT GROUP LTD | 44,400 | $2M | 2.7% | HOLD |
| 7 | NBRNABORS INDUSTRIES LTD | 142,600 | $411,000 | 0.5% | TRIM −6% |
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