CIK 1535862
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 | 74.97% | 10 |
| Oil, Gas & Consumable Fuels | 8.52% | 4 |
| Road & Rail | 4.50% | 1 |
| Technology Hardware & Equipment | 4.14% | 1 |
| Construction Materials | 3.65% | 1 |
| Semiconductors & Semiconductor Equipment | 2.09% | 1 |
| Construction & Engineering | 1.99% | 1 |
| Specialty Retail | 0.14% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | SGOV | ISHARES TR | Unclassified | 15.62% |
| 2 | IAU | ISHARES GOLD TR | Unclassified | 13.58% |
| 3 | GLD | SPDR GOLD TR | Unclassified | 13.58% |
| 4 | SHY | ISHARES TR | Unclassified | 9.61% |
| 5 | VRP | INVESCO EXCH TRADED FD TR II | Unclassified | 8.02% |
| 6 | KNX | Knight-Swift Transportation Holdings Inc. | Industrials | 4.50% |
| 7 | TMO | THERMO FISHER SCIENTIFIC INC. | Information Technology | 4.14% |
| 8 | SHV | ISHARES TR | Unclassified | 3.95% |
| 9 | GDX | VANECK ETF TRUST GOLD MINERS ETF | Unclassified | 3.85% |
| 10 | MLM | MARTIN MARIETTA MATERIALS INC | Materials | 3.65% |
10/20 names classified · sector 25.0% of weight · industry 25.0% · mkt cap 25.0%; 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: 25.0% of the book is sector-classified (unclassified names shown, never dropped).
Only 25% of book weight classified — the grid is NOT representative of the whole book.
Classified: 25.0% of book weight (10/20 names) · unclassified 75.0%: SGOV, IAU, GLD, SHY, VRP, SHV, GDX, IEO, XLB, ITB. 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 | SGOVISHARES TR | 335,197 | $34M | 15.6% | ADD 1841% |
| 2 | IAUISHARES GOLD TR | 332,931 | $29M | 13.6% | TRIM −18% |
| 3 | GLDSPDR GOLD TR | 68,178 | $29M | 13.6% | TRIM −18% |
| 4 | SHYISHARES TR | 251,457 | $21M | 9.6% | TRIM −25% |
| 5 | VRPINVESCO EXCH TRADED FD TR II | 722,589 | $17M | 8.0% | TRIM −16% |
| 6 | KNXKNIGHT-SWIFT TRANSN HLDGS IN | 168,719 | $10M | 4.5% | ADD 18% |
| 7 | TMOTHERMO FISHER SCIENTIFIC INC | 18,200 | $9M | 4.1% | ADD 24% |
| 8 | SHVISHARES TR | 77,279 | $9M | 3.9% | ADD 171% |
| 9 | GDXVANECK ETF TRUST GOLD MINERS ETF | 90,648 | $8M | 3.8% | TRIM −41% |
| 10 | MLMMARTIN MARIETTA MATLS INC | 13,402 | $8M | 3.7% | ADD 16% |
| 11 | IEOISHARES TR | 46,648 | $6M | 2.7% | NEW |
| 12 | VLOVALERO ENERGY CORP | 19,968 | $5M | 2.3% | ADD 10% |
| 13 | DINOHF SINCLAIR CORP | 73,713 | $5M | 2.1% | ADD 8% |
| 14 | XLBSELECT SECTOR SPDR TR | 90,724 | $5M | 2.1% | ADD 300% |
| 15 | FSLRFIRST SOLAR INC | 22,897 | $5M | 2.1% | ADD 11% |
| 16 | PSXPHILLIPS 66 | 24,429 | $4M | 2.1% | ADD 18% |
| 17 | MPCMARATHON PETE CORP | 18,084 | $4M | 2.0% | ADD 8% |
| 18 | DHID R HORTON INC | 31,356 | $4M | 2.0% | ADD 33% |
| 19 | ITBISHARES TR | 47,168 | $4M | 2.0% | ADD 29% |
| 20 | WMTWALMART INC | 2,468 | $306,723 | 0.1% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| SGOVISHARES TR | 208K | 187K | 188K | 17K | 17K | 335K | $34M |
| IAUISHARES GOLD TR | 511K | 521K | 399K | 405K | 405K | 333K | $29M |
| GLDSPDR GOLD TR | 105K | 107K | 82K | 83K | 83K | 68K | $29M |
| SHYISHARES TR | — | — | 444K | 336K | 336K | 251K | $21M |
| VRPINVESCO EXCH TRADED FD TR II | — | — | — | 857K | 857K | 723K | $17M |
| KNXKNIGHT-SWIFT TRANSN HLDGS IN | 123K | 141K | 142K | 143K | 143K | 169K | $10M |
| TMOTHERMO FISHER SCIENTIFIC INC | 13K | 14K | 14K | 15K | 15K | 18K | $9M |
| SHVISHARES TR | 146K | 91K | 92K | 28K | 28K | 77K | $9M |
| GDXVANECK ETF TRUST GOLD MINERS ETF | 228K | 231K | 149K | 153K | 153K | 91K | $8M |
| MLMMARTIN MARIETTA MATLS INC | 11K | 11K | 11K | 12K | 12K | 13K | $8M |
| IEOISHARES TR | — | — | — | — | — | 47K | $6M |
| VLOVALERO ENERGY CORP | 6K | 18K | 18K | 18K | 18K | 20K | $5M |
| DINOHF SINCLAIR CORP | 52K | 67K | 68K | 68K | 68K | 74K | $5M |
| XLBSELECT SECTOR SPDR TR | 8K | 22K | 22K | 23K | 23K | 91K | $5M |
| FSLRFIRST SOLAR INC | 14K | 20K | 20K | 21K | 21K | 23K | $5M |
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.
