CIK 1604350
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 | 32.38% | 3 |
| Oil, Gas & Consumable Fuels | 30.93% | 4 |
| Banks | 19.03% | 5 |
| Insurance | 6.59% | 1 |
| Unclassified | 5.41% | 2 |
| Technology Hardware & Equipment | 2.80% | 2 |
| Media & Entertainment | 1.56% | 2 |
| Real Estate Management & Development | 0.70% | 1 |
| Equity Real Estate Investment Trusts (REITs) | 0.40% | 2 |
| Household Durables | 0.14% | 1 |
| Health Care Equipment & Supplies | 0.07% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | EXE | EXPAND ENERGY Corp | Energy | 27.56% |
| 2 | VST | Vistra Corp. | Utilities | 11.77% |
| 3 | NRG | NRG ENERGY, INC. | Utilities | 10.41% |
| 4 | TLN | Talen Energy Corp | Utilities | 10.20% |
| 5 | ALLY | Ally Financial Inc. | Financials | 10.16% |
| 6 | ACT | Enact Holdings, Inc. | Financials | 6.59% |
| 7 | GASS | STEALTHGAS INC | Unclassified | 5.41% |
| 8 | WSBC | WESBANCO INC | Financials | 3.90% |
| 9 | CHRD | Chord Energy Corp | Energy | 3.32% |
| 10 | AFRM | Affirm Holdings, Inc. | Financials | 2.93% |
22/24 names classified · sector 94.6% of weight · industry 94.6% · mkt cap 93.9%; 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: 94.6% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 83.3% of book weight (16/24 names) · unclassified 16.7%: TLN, GASS, FPH, COOK, SVC, SKIN, DEC, . 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 | EXEEXPAND ENERGY CORPORATION | 2,019,894 | $222M | 27.6% | HOLD |
| 2 | VSTVISTRA CORP | 629,359 | $95M | 11.8% | ADD 6% |
| 3 | NRGNRG ENERGY INC | 572,985 | $84M | 10.4% | TRIM −9% |
| 4 | TLNTALEN ENERGY CORP | 257,024 | $82M | 10.2% | TRIM −3% |
| 5 | ALLYALLY FINL INC | 2,083,219 | $82M | 10.2% | HOLD |
| 6 | ACTENACT HLDGS INC | 1,298,718 | $53M | 6.6% | HOLD |
| 7 | GASSSTEALTHGAS INC | 4,739,902 | $44M | 5.4% | HOLD |
| 8 | WSBCWESBANCO INC | 909,091 | $31M | 3.9% | HOLD |
| 9 | CHRDCHORD ENERGY CORPORATION | 187,840 | $27M | 3.3% | TRIM −37% |
| 10 | AFRMAFFIRM HLDGS INC | 514,100 | $24M | 2.9% | ADD 23% |
| 11 | DBDDIEBOLD NIXDORF INC | 215,568 | $16M | 2.0% | TRIM −73% |
| 12 | BBTBERKSHIRE HILLS BANCORP INC | 381,184 | $11M | 1.4% | HOLD |
| 13 | CNKCINEMARK HOLDINGS INC | 259,563 | $7M | 0.9% | TRIM −50% |
| 14 | NATLNCR ATLEOS CORPORATION | 143,500 | $6M | 0.8% | HOLD |
| 15 | FPHFIVE POINT HOLDINGS LLC | 1,158,162 | $6M | 0.7% | HOLD |
| 16 | NCMINATIONAL CINEMEDIA INC | 1,678,903 | $5M | 0.6% | HOLD |
| 17 | OCFCOCEANFIRST FINL CORP | 275,500 | $5M | 0.6% | NEW |
| 18 | KRCKILROY RLTY CORP | 79,449 | $2M | 0.3% | NEW |
| 19 | COOKTRAEGER INC COM NEW | 37,960 | $1M | 0.1% | NEW |
| 20 | SVCSERVICE PPTYS TR | 692,346 | $938,129 | 0.1% | HOLD |
| 21 | SKINTHE BEAUTY HEALTH COMPANY | 636,954 | $566,889 | 0.1% | HOLD |
| 22 | DECDIVERSIFIED ENERGY CO | 17,009 | $296,637 | 0.0% | HOLD |
| 23 | VALVALARIS LTD | 658 | $64,510 | 0.0% | HOLD |
| 24 | EPR PPTYS | 1,000 | $22,610 | 0.0% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| EXEEXPAND ENERGY CORPORATION | 2.1M | 2.1M | 2.1M | 2.1M | 2.0M | 2.0M | $222M |
| VSTVISTRA CORP | 579K | 749K | 657K | 657K | 591K | 629K | $95M |
| NRGNRG ENERGY INC | 536K | 536K | 596K | 630K | 630K | 573K | $84M |
| TLNTALEN ENERGY CORP | 727K | 727K | 294K | 265K | 265K | 257K | $82M |
| ALLYALLY FINL INC | 2.5M | 2.5M | 2.5M | 2.3M | 2.1M | 2.1M | $82M |
| ACTENACT HLDGS INC | 1.3M | 1.3M | 1.3M | 1.3M | 1.3M | 1.3M | $53M |
| GASSSTEALTHGAS INC | 5.9M | 5.9M | 5.9M | 4.9M | 4.7M | 4.7M | $44M |
| WSBCWESBANCO INC | 769K | 769K | 909K | 909K | 909K | 909K | $31M |
| CHRDCHORD ENERGY CORPORATION | 241K | 241K | 298K | 298K | 298K | 188K | $27M |
| AFRMAFFIRM HLDGS INC | 336K | 417K | 417K | 417K | 417K | 514K | $24M |
| DBDDIEBOLD NIXDORF INC | 1.3M | 1.5M | 1.5M | 1.2M | 787K | 216K | $16M |
| BBTBERKSHIRE HILLS BANCORP INC | 172K | 172K | 172K | 172K | 381K | 381K | $11M |
| CNKCINEMARK HOLDINGS INC | — | — | — | — | 519K | 260K | $7M |
| NATLNCR ATLEOS CORPORATION | 1K | 1K | 1K | 144K | 144K | 144K | $6M |
| FPHFIVE POINT HOLDINGS LLC | 1.7M | 1.7M | 1.6M | 1.3M | 1.2M | 1.2M | $6M |
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.
