CIK 1636441
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 | 20.24% | 2 |
| Capital Markets | 19.34% | 1 |
| Commercial Services & Supplies | 17.64% | 1 |
| Airlines | 14.35% | 1 |
| Insurance | 12.02% | 2 |
| Oil, Gas & Consumable Fuels | 10.09% | 2 |
| Road & Rail | 6.32% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | BLK | BlackRock, Inc. | Financials | 19.34% |
| 2 | V | VISA INC. | Financials | 17.64% |
| 3 | HEI.A | HEICO CORP NEW | Unclassified | 16.32% |
| 4 | RYAAY | Ryanair Holdings PLC | Industrials | 14.35% |
| 5 | ELV | Elevance Health, Inc. | Financials | 6.71% |
| 6 | CNI | CANADIAN NATIONAL RAILWAY CO | Industrials | 6.32% |
| 7 | UNH | UNITEDHEALTH GROUP INC | Financials | 5.31% |
| 8 | BP | BP PLC | Energy | 5.29% |
| 9 | CNQ | CANADIAN NATURAL RESOURCES LTD | Energy | 4.80% |
| 10 | TBBB | BBB FOODS INC | Unclassified | 3.92% |
8/10 names classified · sector 79.8% of weight · industry 79.8% · mkt cap 55.3%; 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: 79.8% of the book is sector-classified (unclassified names shown, never dropped).
Only 49% of book weight classified — the grid is NOT representative of the whole book.
Classified: 49.0% of book weight (4/10 names) · unclassified 51.0%: HEI.A, RYAAY, CNI, BP, CNQ, TBBB. 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 | BLKBLACKROCK INC | 12,633 | $12M | 19.3% | HOLD |
| 2 | VVISA INC | 36,671 | $11M | 17.6% | HOLD |
| 3 | HEI.AHEICO CORP NEW | 48,566 | $10M | 16.3% | HOLD |
| 4 | RYAAYRYANAIR HOLDINGS PLC | 155,942 | $9M | 14.3% | HOLD |
| 5 | ELVELEVANCE HEALTH INC FORMERLY | 14,400 | $4M | 6.7% | HOLD |
| 6 | CNICANADIAN NATL RY CO | 38,634 | $4M | 6.3% | HOLD |
| 7 | UNHUNITEDHEALTH GROUP INC | 12,340 | $3M | 5.3% | HOLD |
| 8 | BPBP PLC | 70,776 | $3M | 5.3% | HOLD |
| 9 | CNQCANADIAN NAT RES LTD | 61,874 | $3M | 4.8% | HOLD |
| 10 | TBBBBBB FOODS INC | 69,700 | $2M | 3.9% | ADD 35% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| BLKBLACKROCK INC | 29K | 29K | 18K | 18K | 13K | 13K | $12M |
| VVISA INC | 65K | 65K | 51K | 51K | 37K | 37K | $11M |
| HEI/AHEICO CORP NEW | — | 51K | 67K | 67K | 49K | 49K | $10M |
| RYAAYRYANAIR HOLDINGS PLC | 642K | 642K | 374K | 281K | 156K | 156K | $9M |
| ELVELEVANCE HEALTH INC FORMERLY | — | — | — | 10K | 14K | 14K | $4M |
| CNICANADIAN NATL RY CO | 89K | 89K | 54K | 54K | 39K | 39K | $4M |
| UNHUNITEDHEALTH GROUP INC | — | — | — | 9K | 12K | 12K | $3M |
| BPBP PLC | 164K | 164K | 98K | 98K | 71K | 71K | $3M |
| CNQCANADIAN NAT RES LTD | 143K | 143K | 86K | 86K | 62K | 62K | $3M |
| TBBBBBB FOODS INC | — | 17K | 28K | 72K | 52K | 70K | $2M |
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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