CIK 1525362
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 |
|---|---|---|
| Hotels, Restaurants & Leisure | 50.21% | 1 |
| Insurance | 23.96% | 1 |
| Entertainment | 11.54% | 1 |
| Commercial Services & Supplies | 7.05% | 1 |
| Technology Hardware & Equipment | 5.49% | 1 |
| Media & Entertainment | 1.76% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | PENN | PENN Entertainment, Inc. | Consumer Discretionary | 50.21% |
| 2 | FAF | First American Financial Corp | Financials | 23.96% |
| 3 | PRKS | United Parks & Resorts Inc. | Communication Services | 11.54% |
| 4 | DRVN | Driven Brands Holdings Inc. | Industrials | 7.05% |
| 5 | FOSL | Fossil Group, Inc. | Information Technology | 5.49% |
| 6 | OPTU | Optimum Communications, Inc. | Communication Services | 1.76% |
6/6 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 100.0%; 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: 100.0% of the book is sector-classified (unclassified names shown, never dropped).
Only 43% of book weight classified — the grid is NOT representative of the whole book.
Classified: 42.5% of book weight (3/6 names) · unclassified 57.5%: PENN, FOSL, 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 | PENNPENN ENTERTAINMENT INC | 5,675,000 | $85M | 50.2% | TRIM −9% |
| 2 | FAFFIRST AMERN FINL CORP | 675,000 | $41M | 24.0% | HOLD |
| 3 | PRKSUNITED PARKS & RESORTS INC | 600,000 | $20M | 11.5% | NEW |
| 4 | DRVNDRIVEN BRANDS HLDGS INC | 950,000 | $12M | 7.1% | TRIM −82% |
| 5 | FOSLFOSSIL GROUP INC | 2,163,349 | $9M | 5.5% | HOLD |
| 6 | OPTUOPTIMUM COMMUNICATIONS INC | 2,300,000 | $3M | 1.8% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| PENNPENN ENTERTAINMENT INC | 14.5M | 7.3M | 7.3M | 7.3M | 6.3M | 5.7M | $85M |
| FAFFIRST AMERN FINL CORP | 3.3M | 2.2M | 1.4M | 1.0M | 675K | 675K | $41M |
| PRKSUNITED PARKS & RESORTS INC | 500K | 1.4M | 1.6M | 425K | — | 600K | $20M |
| DRVNDRIVEN BRANDS HLDGS INC | 7.4M | 6.3M | 5.7M | 5.6M | 5.3M | 950K | $12M |
| FOSLFOSSIL GROUP INC | — | — | — | — | 2.2M | 2.2M | $9M |
| OPTUOPTIMUM COMMUNICATIONS INC | — | 4.7M | 3.2M | 3.1M | 2.3M | 2.3M | $3M |
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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