CIK 1565854
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 | 54.96% | 26 |
| Equity Real Estate Investment Trusts (REITs) | 14.89% | 13 |
| Machinery | 4.17% | 11 |
| Aerospace & Defense | 3.66% | 6 |
| Oil, Gas & Consumable Fuels | 3.61% | 8 |
| Electrical Equipment & Components | 2.82% | 4 |
| Distributors | 2.15% | 5 |
| Commercial Services & Supplies | 2.01% | 5 |
| Insurance | 1.98% | 4 |
| Construction Materials | 1.17% | 2 |
| Unclassified | 1.15% | 7 |
| Specialty Retail | 1.13% | 3 |
| Metals & Mining | 0.97% | 3 |
| Professional Services | 0.97% | 2 |
| Construction & Engineering | 0.86% | 2 |
| Semiconductors & Semiconductor Equipment | 0.77% | 2 |
| Household Durables | 0.59% | 1 |
| Airlines | 0.43% | 1 |
| Banks | 0.38% | 3 |
| Beverages | 0.34% | 1 |
| Health Care Providers & Services | 0.30% | 3 |
| Capital Markets | 0.29% | 1 |
| Software | 0.20% | 1 |
| Pharmaceuticals & Biotechnology | 0.19% | 4 |
| Food Products | 0.00% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | ADC | AGREE REALTY CORP | Real Estate | 6.29% |
| 2 | NI | NISOURCE INC. | Utilities | 6.08% |
| 3 | ES | EVERSOURCE ENERGY | Utilities | 5.86% |
| 4 | WELL | WELLTOWER INC. | Real Estate | 5.60% |
| 5 | XEL | XCEL ENERGY INC | Utilities | 5.29% |
| 6 | TRGP | Targa Resources Corp. | Utilities | 5.05% |
| 7 | KMI | KINDER MORGAN, INC. | Utilities | 4.87% |
| 8 | KGS | Kodiak Gas Services, Inc. | Utilities | 3.52% |
| 9 | PCG | PG&E Corp | Utilities | 2.86% |
| 10 | ETR | ENTERGY CORP /DE/ | Utilities | 2.64% |
112/119 names classified · sector 98.8% of weight · industry 98.8% · mkt cap 96.1%; 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: 98.8% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 91.1% of book weight (83/118 names) · unclassified 8.9%: FPS, VNOM, LOAR, , ALH, SMA, USAR, AERO, JAN, HUT +25 more. 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 | ADCAGREE RLTY CORP | 3,296,414 | $248M | 6.3% | NEW |
| 2 | NINISOURCE INC | 5,142,959 | $240M | 6.1% | ADD 33% |
| 3 | ESEVERSOURCE ENERGY | 3,342,607 | $232M | 5.9% | TRIM −13% |
| 4 | WELLWELLTOWER INC | 1,118,925 | $221M | 5.6% | HOLD |
| 5 | XELXCEL ENERGY INC | 2,629,300 | $209M | 5.3% | TRIM −4% |
| 6 | TRGPTARGA RES CORP | 794,933 | $199M | 5.0% | HOLD |
| 7 | KMIKINDER MORGAN INC DEL | 5,735,100 | $192M | 4.9% | ADD 43% |
| 8 | KGSKODIAK GAS SVCS INC | 2,381,916 | $139M | 3.5% | TRIM −44% |
| 9 | PCGPG&E CORP | 6,420,105 | $113M | 2.9% | TRIM −12% |
| 10 | ETRENTERGY CORP NEW | 928,573 | $104M | 2.6% | TRIM −44% |
| 11 | IDAIDACORP INC | 723,692 | $103M | 2.6% | TRIM −10% |
| 12 | WECWEC ENERGY GROUP INC | 833,814 | $97M | 2.4% | NEW |
| 13 | TXNMPNM RES INC | 1,532,247 | $90M | 2.3% | TRIM −18% |
| 14 | SRESEMPRA | 699,600 | $68M | 1.7% | TRIM −50% |
| 15 | HTOH2O AMERICA | 1,001,000 | $59M | 1.5% | ADD 2185% |
| 16 | DUKDUKE ENERGY CORP NEW | 437,929 | $57M | 1.5% | TRIM −32% |
| 17 | FPSForgent Power Solutions Inc | 1,950,520 | $57M | 1.4% | NEW |
| 18 | BKVBKV CORP | 1,946,314 | $56M | 1.4% | ADD 290% |
| 19 | KTOSKRATOS DEFENSE & SEC SOLUTIO | 783,148 | $55M | 1.4% | ADD 770% |
| 20 | CTRECareTrust REIT, Inc. | 1,486,155 | $54M | 1.4% | TRIM −16% |
| 21 | SWXSOUTHWEST GAS HLDGS INC | 606,922 | $53M | 1.3% | ADD 228% |
| 22 | BKHBLACK HILLS CORP | 741,034 | $51M | 1.3% | ADD 168% |
| 23 | PNWPINNACLE WEST CAP CORP | 500,055 | $50M | 1.3% | ADD 266% |
| 24 | CRHCRH PLC | 400,000 | $42M | 1.1% | ADD 400% |
| 25 | GEGE AEROSPACE | 130,000 | $37M | 0.9% | ADD 550% |
| 26 | VNOMVIPER ENERGY INC | 770,000 | $36M | 0.9% | TRIM −56% |
| 27 | LOARLOAR HOLDINGS INC | 572,500 | $33M | 0.8% | ADD 108% |
| 28 | DDOMINION ENERGY INC | 500,000 | $31M | 0.8% | NEW |
| 29 | NEXTERA ENERGY INC | 609,324 | $31M | 0.8% | NEW |
| 30 | QXOQXO INC | 1,575,000 | $31M | 0.8% | ADD 163% |
| 31 | VSECVSE CORP | 160,500 | $30M | 0.7% | NEW |
| 32 | RYANRYAN SPECIALTY HOLDINGS INC | 875,000 | $30M | 0.7% | TRIM −13% |
| 33 | APHAMPHENOL CORP | 231,500 | $29M | 0.7% | NEW |
| 34 | TDGTRANSDIGM GROUP INC | 25,000 | $29M | 0.7% | TRIM −15% |
| 35 | JRVRJAMES RIV GROUP HOLDINGS INC | 4,591,638 | $29M | 0.7% | HOLD |
| 36 | NVTNVENT ELECTRIC PLC | 235,500 | $28M | 0.7% | TRIM −37% |
| 37 | BLDRBUILDERS FIRSTSOURCE INC | 332,500 | $27M | 0.7% | ADD 93% |
| 38 | WMWASTE MGMT INC DEL | 115,000 | $26M | 0.7% | ADD 5% |
| 39 | EMEEMCOR GROUP INC | 35,000 | $26M | 0.7% | ADD 112% |
| 40 | ALHALLIANCE LAUNDRY HLDGS INC | 1,145,003 | $24M | 0.6% | ADD 21% |
| 41 | WHRWHIRLPOOL CORP | 430,500 | $23M | 0.6% | NEW |
| 42 | PHPARKER-HANNIFIN CORP | 25,000 | $22M | 0.6% | TRIM −17% |
| 43 | YORWYORK WTR CO | 732,677 | $22M | 0.6% | HOLD |
| 44 | SAROSTANDARDAERO INC | 850,000 | $22M | 0.6% | ADD 135% |
| 45 | CNMCORE & MAIN INC | 430,000 | $21M | 0.5% | ADD 115% |
| 46 | CWSTCASELLA WASTE SYS INC | 257,694 | $20M | 0.5% | ADD 1596% |
| 47 | CNPCENTERPOINT ENERGY INC | 443,500 | $19M | 0.5% | TRIM −56% |
| 48 | SMASMARTSTOP SELF STORAG REIT I | 600,000 | $18M | 0.5% | TRIM −5% |
| 49 | USARUSA RARE EARTH INC | 1,151,640 | $17M | 0.4% | NEW |
| 50 | PNRPENTAIR PLC | 200,000 | $17M | 0.4% | NEW |
| 51 | AEROGRUPO AEROMEXICO SAB DE CV | 1,223,565 | $17M | 0.4% | ADD 15% |
| 52 | AZOAUTOZONE INC | 5,000 | $17M | 0.4% | TRIM −64% |
| 53 | SMSM ENERGY CO | 532,500 | $17M | 0.4% | NEW |
| 54 | CPAYCORPAY INC | 56,000 | $16M | 0.4% | ADD 8% |
| 55 | LNGCheniere Energy, Inc | 55,000 | $16M | 0.4% | TRIM −82% |
| 56 | STCSTEWART INFORMATION SVCS COR | 245,942 | $15M | 0.4% | TRIM −31% |
| 57 | CRCRANE COMPANY | 85,000 | $15M | 0.4% | NEW |
| 58 | POOLPOOL CORP | 70,000 | $14M | 0.4% | NEW |
| 59 | FCXFREEPORT MCMORAN INC | 237,500 | $14M | 0.4% | NEW |
| 60 | JANJANUS LIVING INC | 575,000 | $14M | 0.3% | NEW |
| 61 | PRMBPRIMO BRANDS CORPORATION | 717,000 | $14M | 0.3% | TRIM −36% |
| 62 | CMICUMMINS INC | 25,000 | $13M | 0.3% | NEW |
| 63 | GPCGENUINE PARTS CO | 125,000 | $13M | 0.3% | ADD 67% |
| 64 | CARRCARRIER GLOBAL CORPORATION | 230,000 | $13M | 0.3% | TRIM −41% |
| 65 | HUTHUT 8 CORP | 275,000 | $13M | 0.3% | ADD 279% |
| 66 | CATCATERPILLAR INC | 16,750 | $12M | 0.3% | ADD 27% |
| 67 | HESMHESS MIDSTREAM LP | 299,800 | $12M | 0.3% | TRIM −15% |
| 68 | VRTSVIRTUS INVT PARTNERS INC | 84,121 | $11M | 0.3% | ADD 236% |
| 69 | GNRCGENERAC HLDGS INC | 54,600 | $11M | 0.3% | NEW |
| 70 | ITTITT INC | 50,000 | $10M | 0.2% | TRIM −65% |
| 71 | MSEXMIDDLESEX WTR CO | 176,903 | $9M | 0.2% | TRIM −4% |
| 72 | ARANTERO RESOURCES CORP | 212,500 | $9M | 0.2% | TRIM −25% |
| 73 | WBIWATERBRIDGE INFRASTRUCTURE L | 320,000 | $9M | 0.2% | NEW |
| 74 | VVXV2X INC | 125,000 | $9M | 0.2% | ADD 39% |
| 75 | KYNKAYNE ANDERSON ENERGY INFRST | 587,500 | $8M | 0.2% | ADD 6% |
| 76 | AIVAPARTMENT INVT & MGMT CO | 2,027,500 | $8M | 0.2% | NEW |
| 77 | PWRQUANTA SVCS INC | 15,000 | $8M | 0.2% | TRIM −83% |
| 78 | EQPTEQUIPMENTSHARE COM INC | 401,500 | $8M | 0.2% | NEW |
| 79 | ROLROLLINS INC | 150,000 | $8M | 0.2% | NEW |
| 80 | MSFTMICROSOFT CORP | 21,500 | $8M | 0.2% | ADD 7% |
| 81 | EMAEMERA INC | 150,436 | $8M | 0.2% | NEW |
| 82 | INVXINNOVEX INTERNATIONAL INC | 297,425 | $7M | 0.2% | NEW |
| 83 | ALMALMONTY INDS INC | 475,000 | $7M | 0.2% | NEW |
| 84 | FVRFRONTVIEW REIT INC | 424,233 | $7M | 0.2% | TRIM −54% |
| 85 | GEVGE VERNOVA INC | 7,500 | $7M | 0.2% | NEW |
| 86 | KNTKKINETIK HOLDINGS INC | 133,150 | $6M | 0.2% | TRIM −95% |
| 87 | NTSTNETSTREIT CORP | 315,500 | $6M | 0.2% | ADD 125% |
| 88 | ELDNELEDON PHARMACEUTICALS INC | 1,875,000 | $6M | 0.1% | TRIM −21% |
| 89 | SYYSYSCO CORP | 80,000 | $6M | 0.1% | NEW |
| 90 | AVAHAVEANNA HEALTHCARE HLDGS INC | 762,150 | $5M | 0.1% | HOLD |
| 91 | BOWBOWHEAD SPECIALTY HLDGS INC | 209,800 | $5M | 0.1% | TRIM −2% |
| 92 | TBNTAMBORAN RES CORP | 91,480 | $5M | 0.1% | TRIM −36% |
| 93 | PACSPACS GROUP INC | 140,000 | $4M | 0.1% | TRIM −54% |
| 94 | FCPTFOUR CORNERS PPTY TR INC | 185,092 | $4M | 0.1% | HOLD |
| 95 | TTAMTITAN AMER SA | 266,111 | $4M | 0.1% | TRIM −73% |
| 96 | AAONAAON INC | 45,000 | $4M | 0.1% | NEW |
| 97 | KRMNKARMAN HLDGS INC | 40,000 | $3M | 0.1% | NEW |
| 98 | LMRILUMEXA IMAGING HOLDINGS INC | 300,000 | $3M | 0.1% | TRIM −51% |
| 99 | YSSYORK SPACE SYSTEMS INC | 115,000 | $3M | 0.1% | NEW |
| 100 | CUBECUBESMART | 67,500 | $2M | 0.1% | HOLD |
| 101 | DOCHEALTHPEAK PROPERTIES INC | 135,300 | $2M | 0.1% | NEW |
| 102 | WHIRLPOOL CORP | 50,000 | $2M | 0.1% | NEW |
| 103 | PSAPUBLIC STORAGE OPER CO | 7,200 | $2M | 0.0% | NEW |
| 104 | WULFTERAWULF INC | 131,000 | $2M | 0.0% | NEW |
| 105 | NEXTNEXTDECADE CORP | 212,500 | $2M | 0.0% | NEW |
| 106 | ERHALLSPRING UTILITIES AND HIGH | 128,803 | $2M | 0.0% | HOLD |
| 107 | DPGDUFF & PHELPS UTLITY AND INF | 107,700 | $2M | 0.0% | ADD 29% |
| 108 | PICSPICS NV | 125,000 | $1M | 0.0% | NEW |
| 109 | FEFIRSTENERGY CORP | 25,000 | $1M | 0.0% | TRIM −44% |
| 110 | NVDANVIDIA CORPORATION | 6,700 | $1M | 0.0% | NEW |
| 111 | IRONDISC MEDICINE INC | 16,700 | $1M | 0.0% | TRIM −39% |
| 112 | REXRREXFORD INDL RLTY INC | 15,000 | $490,950 | 0.0% | NEW |
| 113 | ENBENBRIDGE INC | 7,500 | $406,156 | 0.0% | NEW |
| 114 | AKTSAKTIS ONCOLOGY INC | 15,000 | $268,350 | 0.0% | NEW |
| 115 | BTGOBITGO HOLDINGS INC | 30,000 | $246,900 | 0.0% | NEW |
| 116 | BOBSBOBS DISC FURNITURE INC | 20,000 | $235,000 | 0.0% | NEW |
| 117 | KPTIKARYOPHARM THERAPEUTICS INC | 37,500 | $208,875 | 0.0% | NEW |
| 118 | OFRMONCE UPON A FARM PBC | 11,000 | $179,850 | 0.0% | NEW |
| 119 | GAUZGAUZY LTD | 100,000 | $76,400 | 0.0% | TRIM −83% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| ADCAGREE RLTY CORP | — | — | 3K | 5K | — | 3.3M | $248M |
| NINISOURCE INC | 301K | 212K | 275K | 5.9M | 3.9M | 5.1M | $240M |
| ESEVERSOURCE ENERGY | 157K | 86K | 4.4M | 3.8M | 3.8M | 3.3M | $232M |
| WELLWELLTOWER INC | 3.3M | 1.9M | 1.2M | 1.1M | 1.1M | 1.1M | $221M |
| XELXCEL ENERGY INC | 3.7M | 4.1M | 3.4M | 2.5M | 2.7M | 2.6M | $209M |
| TRGPTARGA RES CORP | 1.7M | 1.1M | 1.2M | 1.3M | 782K | 795K | $199M |
| KMIKINDER MORGAN INC DEL | 2.3M | 3.2M | 2.2M | 6.1M | 4.0M | 5.7M | $192M |
| KGSKODIAK GAS SVCS INC | 3.3M | 3.8M | 4.3M | 2.9M | 4.3M | 2.4M | $139M |
| PCGPG&E CORP | 12.7M | 13.5M | 10.3M | 7.9M | 7.3M | 6.4M | $113M |
| ETRENTERGY CORP NEW | 294K | 1.1M | 697K | — | 1.7M | 929K | $104M |
| IDAIDACORP INC | — | — | — | 538K | 800K | 724K | $103M |
| WECWEC ENERGY GROUP INC | — | — | — | — | — | 834K | $97M |
| TXNMPNM RES INC | 3.4M | — | 3.6M | 3.4M | 1.9M | 1.5M | $90M |
| SRESEMPRA | 1.9M | 1.2M | 1.7M | 856K | 1.4M | 700K | $68M |
| HTOH2O AMERICA | — | 83K | 460K | 124K | 44K | 1.0M | $59M |
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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