CIK 1598176
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 |
|---|---|---|
| Metals & Mining | 55.84% | 1 |
| Unclassified | 41.91% | 34 |
| Capital Markets | 1.22% | 1 |
| Software | 0.33% | 1 |
| Automobiles & Components | 0.30% | 1 |
| Construction Materials | 0.22% | 1 |
| Technology Hardware & Equipment | 0.09% | 1 |
| Machinery | 0.09% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | USAR | USA Rare Earth, Inc. | Materials | 55.84% |
| 2 | GLD | SPDR GOLD TR | Unclassified | 11.43% |
| 3 | INFL | LISTED FDS TR | Unclassified | 7.26% |
| 4 | IBIT | ISHARES BITCOIN TRUST ETF | Unclassified | 4.53% |
| 5 | IWB | ISHARES TR | Unclassified | 2.39% |
| 6 | OTF | BLUE OWL TECHNOLOGY FINANCE | Unclassified | 2.11% |
| 7 | OBDC | BLUE OWL CAPITAL CORPORATION | Unclassified | 1.82% |
| 8 | ARKB | ARK 21SHARES BITCOIN ETF | Unclassified | 1.70% |
| 9 | GLXY | Galaxy Digital Inc. | Financials | 1.22% |
| 10 | IAU | ISHARES GOLD TR | Unclassified | 1.06% |
7/41 names classified · sector 58.1% of weight · industry 58.1% · mkt cap 58.1%; 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: 58.1% of the book is sector-classified (unclassified names shown, never dropped).
Only 1% of book weight classified — the grid is NOT representative of the whole book.
Classified: 0.8% of book weight (4/41 names) · unclassified 99.2%: USAR, GLD, INFL, IBIT, IWB, OTF, OBDC, ARKB, GLXY, IAU +27 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 | USARUSA RARE EARTH INC | 8,743,216 | $132M | 55.8% | HOLD |
| 2 | GLDSPDR GOLD TR | 62,942 | $27M | 11.4% | TRIM −3% |
| 3 | INFLLISTED FDS TR | 330,506 | $17M | 7.3% | ADD 13% |
| 4 | IBITISHARES BITCOIN TRUST ETF | 279,119 | $11M | 4.5% | ADD 63% |
| 5 | IWBISHARES TR | 15,873 | $6M | 2.4% | HOLD |
| 6 | OTFBLUE OWL TECHNOLOGY FINANCE | 403,783 | $5M | 2.1% | ADD 165% |
| 7 | OBDCBLUE OWL CAPITAL CORPORATION | 390,000 | $4M | 1.8% | ADD 9% |
| 8 | ARKBARK 21SHARES BITCOIN ETF | 178,708 | $4M | 1.7% | ADD 79% |
| 9 | GLXYGALAXY DIGITAL INC. | 156,705 | $3M | 1.2% | HOLD |
| 10 | IAUISHARES GOLD TR | 28,370 | $3M | 1.1% | NEW |
| 11 | FBTCFIDELITY WISE ORIGIN BITCOIN | 41,173 | $2M | 1.0% | TRIM −75% |
| 12 | SPYSTATE STR SPDR S&P 500 ETF T | 3,155 | $2M | 0.9% | TRIM −26% |
| 13 | VGTVANGUARD WORLD FD | 2,794 | $2M | 0.8% | TRIM −6% |
| 14 | SLVISHARES SILVER TR | 25,750 | $2M | 0.7% | TRIM −9% |
| 15 | COPXGLOBAL X FDS | 16,332 | $1M | 0.5% | NEW |
| 16 | SGDMSPROTT ETF TRUST | 16,400 | $1M | 0.5% | ADD 64% |
| 17 | NLRVANECK ETF TRUST | 8,971 | $1M | 0.5% | NEW |
| 18 | QQQINVESCO QQQ TR | 1,773 | $1M | 0.4% | HOLD |
| 19 | IEFISHARES TR | 8,986 | $857,624 | 0.4% | TRIM −3% |
| 20 | IWVISHARES TR | 2,301 | $852,935 | 0.4% | HOLD |
| 21 | MSFTMICROSOFT CORP | 2,129 | $788,092 | 0.3% | NEW |
| 22 | AGGISHARES TR | 7,827 | $776,986 | 0.3% | ADD 10% |
| 23 | GBDCGOLUB CAP BDC INC | 60,000 | $759,600 | 0.3% | NEW |
| 24 | FIDUFIDELITY COVINGTON TRUST | 8,467 | $732,565 | 0.3% | TRIM −4% |
| 25 | FDISFIDELITY COVINGTON TRUST | 7,751 | $722,858 | 0.3% | TRIM −12% |
| 26 | TSLATESLA INC | 1,910 | $710,043 | 0.3% | HOLD |
| 27 | FNCLFIDELITY COVINGTON TRUST | 9,610 | $674,622 | 0.3% | HOLD |
| 28 | BXSLBLACKSTONE SECD LENDING FD | 25,000 | $592,250 | 0.2% | NEW |
| 29 | FCOMFIDELITY COVINGTON TRUST | 8,136 | $554,224 | 0.2% | HOLD |
| 30 | UUUUENERGY FUELS INC | 28,900 | $527,425 | 0.2% | HOLD |
| 31 | SHVISHARES TR | 4,453 | $491,567 | 0.2% | TRIM −5% |
| 32 | CSWCCapital Southwest Corp. | 20,500 | $453,460 | 0.2% | NEW |
| 33 | MFICMIDCAP FINANCIAL INVSTMNT CO | 40,000 | $449,600 | 0.2% | NEW |
| 34 | VDEVANGUARD WORLD FD | 2,522 | $436,407 | 0.2% | HOLD |
| 35 | SPPPSPROTT ASSET MANAGEMENT LP | 26,800 | $416,204 | 0.2% | HOLD |
| 36 | FHLCFIDELITY COVINGTON TRUST | 4,797 | $337,517 | 0.1% | HOLD |
| 37 | FSKFS KKR CAP CORP | 29,000 | $295,220 | 0.1% | NEW |
| 38 | IGSBISHARES TR | 5,361 | $281,774 | 0.1% | HOLD |
| 39 | GDXVANECK ETF TRUST GOLD MINERS ETF | 2,622 | $240,621 | 0.1% | HOLD |
| 40 | AAPLAPPLE INC | 815 | $206,839 | 0.1% | HOLD |
| 41 | BWXTBWX TECHNOLOGIES INC | 1,000 | $204,490 | 0.1% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| USARUSA RARE EARTH INC | — | — | — | — | 8.6M | 8.7M | $132M |
| GLDSPDR GOLD TR | — | — | — | — | 65K | 63K | $27M |
| INFLLISTED FDS TR | — | — | — | — | 293K | 331K | $17M |
| IBITISHARES BITCOIN TRUST ETF | — | — | — | — | 171K | 279K | $11M |
| IWBISHARES TR | — | — | — | — | 16K | 16K | $6M |
| OTFBLUE OWL TECHNOLOGY FINANCE | — | — | — | — | 153K | 404K | $5M |
| OBDCBLUE OWL CAPITAL CORPORATION | — | — | — | — | 358K | 390K | $4M |
| ARKBARK 21SHARES BITCOIN ETF | — | — | — | — | 100K | 179K | $4M |
| GLXYGALAXY DIGITAL INC. | — | — | — | — | 157K | 157K | $3M |
| IAUISHARES GOLD TR | — | — | — | — | — | 28K | $3M |
| FBTCFIDELITY WISE ORIGIN BITCOIN | — | — | — | — | 164K | 41K | $2M |
| SPYSTATE STR SPDR S&P 500 ETF T | — | — | — | — | 4K | 3K | $2M |
| VGTVANGUARD WORLD FD | — | — | — | — | 3K | 3K | $2M |
| SLVISHARES SILVER TR | — | — | — | — | 28K | 26K | $2M |
| COPXGLOBAL X FDS | — | — | — | — | — | 16K | $1M |
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.
Where this firm's principals came from and which firms its alumni went on to found.
