CIK 1534300
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 |
|---|---|---|
| Unclassified | 49.22% | 3 |
| Equity Real Estate Investment Trusts (REITs) | 36.27% | 5 |
| Banks | 14.46% | 2 |
| Utilities | 0.05% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | BKLN | INVESCO EXCH TRADED FD TR II | Unclassified | 28.44% |
| 2 | TRTX | TPG RE Finance Trust, Inc. | Real Estate | 16.06% |
| 3 | VCIT | VANGUARD SCOTTSDALE FDS | Unclassified | 11.40% |
| 4 | FLG | FLAGSTAR BANK, NATIONAL ASSOCIATION | Financials | 10.13% |
| 5 | SPY | STATE STR SPDR S&P 500 ETF T | Unclassified | 9.37% |
| 6 | CUZ | COUSINS PROPERTIES INC | Real Estate | 8.70% |
| 7 | RKT | Rocket Companies, Inc. | Financials | 4.34% |
| 8 | ARI | Apollo Commercial Real Estate Finance, Inc. | Real Estate | 4.06% |
| 9 | STWD | STARWOOD PROPERTY TRUST, INC. | Real Estate | 3.77% |
| 10 | BXMT | BLACKSTONE MORTGAGE TRUST, INC. | Real Estate | 3.68% |
8/11 names classified · sector 50.8% of weight · industry 50.8% · mkt cap 50.8%; 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: 50.8% of the book is sector-classified (unclassified names shown, never dropped).
Only 36% of book weight classified — the grid is NOT representative of the whole book.
Classified: 36.3% of book weight (6/11 names) · unclassified 63.7%: BKLN, VCIT, FLG, SPY, RKT. 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 | BKLNINVESCO EXCH TRADED FD TR II | 725,000 | $15M | 28.4% | NEW |
| 2 | TRTXTPG RE FIN TR INC | 1,070,000 | $8M | 16.1% | ADD 124% |
| 3 | VCITVANGUARD SCOTTSDALE FDS | 71,700 | $6M | 11.4% | NEW |
| 4 | FLGFLAGSTAR BANK NATIONAL ASSOC | 400,000 | $5M | 10.1% | HOLD |
| 5 | SPYSTATE STR SPDR S&P 500 ETF T | 7,500 | $5M | 9.4% | NEW |
| 6 | CUZCOUSINS PPTYS INC | 200,500 | $5M | 8.7% | NEW |
| 7 | RKTROCKET COS INC | 158,337 | $2M | 4.3% | NEW |
| 8 | ARIAPOLLO COML REAL EST FIN INC | 200,000 | $2M | 4.1% | NEW |
| 9 | STWDSTARWOOD PPTY TR INC | 114,000 | $2M | 3.8% | NEW |
| 10 | BXMTBLACKSTONE MTG TR INC | 100,000 | $2M | 3.7% | NEW |
| 11 | NFENEW FORTRESS ENERGY INC | 42,564 | $25,113 | 0.0% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| BKLNINVESCO EXCH TRADED FD TR II | 425K | — | 500K | — | — | 725K | $15M |
| TRTXTPG RE FIN TR INC | — | — | — | 421K | 477K | 1.1M | $8M |
| VCITVANGUARD SCOTTSDALE FDS | — | — | — | 72K | — | 72K | $6M |
| FLGFLAGSTAR BANK NATIONAL ASSOC | — | — | — | 205K | 400K | 400K | $5M |
| SPYSTATE STR SPDR S&P 500 ETF T | — | — | — | — | — | 8K | $5M |
| CUZCOUSINS PPTYS INC | — | — | — | — | — | 201K | $5M |
| RKTROCKET COS INC | — | — | — | — | — | 158K | $2M |
| ARIAPOLLO COML REAL EST FIN INC | — | — | — | — | — | 200K | $2M |
| STWDSTARWOOD PPTY TR INC | — | — | — | — | — | 114K | $2M |
| BXMTBLACKSTONE MTG TR INC | — | — | — | — | — | 100K | $2M |
| NFENEW FORTRESS ENERGY INC | 50K | 50K | 50K | 43K | 43K | 43K | $25,113 |
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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