CIK 1540306
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2023-Q2. 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 | 37.75% | 2 |
| Equity Real Estate Investment Trusts (REITs) | 25.32% | 1 |
| Marine | 22.11% | 1 |
| Oil, Gas & Consumable Fuels | 14.82% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | HOLLY ENERGY PARTNERS LP | Unclassified | 25.63% | |
| 2 | NLY | ANNALY CAPITAL MANAGEMENT INC | Real Estate | 25.32% |
| 3 | STNG | Scorpio Tankers Inc. | Industrials | 22.11% |
| 4 | MPLX | MPLX LP | Energy | 14.82% |
| 5 | KNOP | KNOT OFFSHORE PARTNERS LP | Unclassified | 12.11% |
3/5 names classified · sector 62.3% of weight · industry 62.3% · mkt cap 40.1%; 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: 62.3% 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: 25.3% of book weight (1/5 names) · unclassified 74.7%: , STNG, MPLX, KNOP. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
Where this firm's principals came from and which firms its alumni went on to found.
