CIK 1664017
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 |
|---|---|---|
| Oil, Gas & Consumable Fuels | 30.81% | 4 |
| Unclassified | 27.69% | 1 |
| Insurance | 17.32% | 1 |
| Metals & Mining | 10.52% | 1 |
| Specialty Retail | 9.11% | 1 |
| Commercial Services & Supplies | 3.89% | 1 |
| Utilities | 0.66% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | PBR.A | PETROLEO BRASILEIRO SA PETRO | Unclassified | 27.69% |
| 2 | CNC | CENTENE CORP | Financials | 17.32% |
| 3 | NXE | NexGen Energy Ltd. | Materials | 10.52% |
| 4 | SDRL | SEADRILL Ltd | Energy | 10.43% |
| 5 | NE | Noble Corp plc | Energy | 9.45% |
| 6 | VIPS | Vipshop Holdings Ltd | Consumer Discretionary | 9.11% |
| 7 | VAL | Valaris Ltd | Energy | 7.44% |
| 8 | PYPL | PayPal Holdings, Inc. | Financials | 3.89% |
| 9 | RIG | Transocean Ltd. | Energy | 3.48% |
| 10 | AQN | ALGONQUIN POWER & UTILITIES CORP. | Utilities | 0.66% |
9/10 names classified · sector 72.3% of weight · industry 72.3% · mkt cap 63.2%; 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: 72.3% of the book is sector-classified (unclassified names shown, never dropped).
Only 21% of book weight classified — the grid is NOT representative of the whole book.
Classified: 21.4% of book weight (4/10 names) · unclassified 78.6%: PBR.A, CNC, NXE, SDRL, VIPS, RIG. 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 | PBR.APETROLEO BRASILEIRO SA PETRO | 3,948,602 | $74M | 27.7% | HOLD |
| 2 | CNCCENTENE CORP DEL | 1,415,000 | $46M | 17.3% | HOLD |
| 3 | NXENEXGEN ENERGY LTD | 2,424,793 | $28M | 10.5% | TRIM −20% |
| 4 | SDRLSEADRILL LTD | 613,080 | $28M | 10.4% | ADD 148% |
| 5 | NENOBLE CORP PLC | 515,000 | $25M | 9.5% | ADD 59% |
| 6 | VIPSVIPSHOP HLDGS LTD | 1,549,263 | $24M | 9.1% | HOLD |
| 7 | VALVALARIS LTD | 203,000 | $20M | 7.4% | HOLD |
| 8 | PYPLPAYPAL HLDGS INC | 230,000 | $10M | 3.9% | HOLD |
| 9 | RIGTRANSOCEAN LTD | 1,405,000 | $9M | 3.5% | NEW |
| 10 | AQNALGONQUIN PWR UTILS CORP | 289,556 | $2M | 0.7% | TRIM −94% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| PBR/APETROLEO BRASILEIRO SA PETRO | — | 2.7M | — | — | 3.9M | 3.9M | $74M |
| CNCCENTENE CORP DEL | — | — | — | 1.4M | 1.4M | 1.4M | $46M |
| NXENEXGEN ENERGY LTD | — | 3.0M | — | 3.0M | 3.0M | 2.4M | $28M |
| SDRLSEADRILL LTD | 247K | 247K | — | 450K | 247K | 613K | $28M |
| NENOBLE CORP PLC | 323K | 323K | — | 4.3M | 323K | 515K | $25M |
| VIPSVIPSHOP HLDGS LTD | — | 1.5M | — | — | 1.5M | 1.5M | $24M |
| VALVALARIS LTD | 203K | 203K | — | 1.5M | 203K | 203K | $20M |
| PYPLPAYPAL HLDGS INC | — | — | — | — | 230K | 230K | $10M |
| RIGTRANSOCEAN LTD | — | — | — | — | — | 1.4M | $9M |
| AQNALGONQUIN PWR UTILS CORP | — | 4.5M | — | 4.5M | 4.5M | 290K | $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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