CIK 1531879
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 |
|---|---|---|
| Utilities | 90.44% | 5 |
| Commercial Services & Supplies | 9.56% | 1 |
| Unclassified | 0.00% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | XEL | XCEL ENERGY INC | Utilities | 33.77% |
| 2 | DTE | DTE ENERGY CO | Utilities | 31.08% |
| 3 | PCG | PG&E Corp | Utilities | 18.11% |
| 4 | BABA | Alibaba Group Holding Ltd | Industrials | 9.56% |
| 5 | PPL | PPL Corp | Utilities | 4.18% |
| 6 | NRG | NRG ENERGY, INC. | Utilities | 3.29% |
| 7 | NPWR.WS | NET POWER INC | Unclassified | 0.00% |
6/7 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 90.4%; 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).
Classified: 90.4% of book weight (5/7 names) · unclassified 9.6%: BABA, NPWR.WS. 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 | XELXCEL ENERGY INC | 660,000 | $52M | 33.8% | ADD 86% |
| 2 | DTEDTE ENERGY CO | 330,000 | $48M | 31.1% | ADD 38% |
| 3 | PCGPG&E CORP | 1,600,000 | $28M | 18.1% | NEW |
| 4 | BABAALIBABA GROUP HLDG LTD | 118,304 | $15M | 9.6% | ADD 689% |
| 5 | PPLPPL CORP | 170,000 | $6M | 4.2% | TRIM −21% |
| 6 | NRGNRG ENERGY INC | 35,000 | $5M | 3.3% | NEW |
| 7 | NPWR.WSNET POWER INC | 25,000 | $6,750 | 0.0% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| XELXCEL ENERGY INC | 250K | 360K | 300K | 205K | 355K | 660K | $52M |
| DTEDTE ENERGY CO | — | — | — | — | 240K | 330K | $48M |
| PCGPG&E CORP | 500K | 1.0M | 1.3M | 300K | — | 1.6M | $28M |
| BABAALIBABA GROUP HLDG LTD | — | — | — | — | 15K | 118K | $15M |
| PPLPPL CORP | 490K | — | — | 115K | 215K | 170K | $6M |
| NRGNRG ENERGY INC | 90K | — | — | — | — | 35K | $5M |
| NPWR/WSNET POWER INC | 25K | 25K | 25K | 25K | 25K | 25K | $6,750 |
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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