CIK 1732811
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 |
|---|---|---|
| Transportation Infrastructure | 55.16% | 2 |
| Utilities | 20.06% | 1 |
| Distributors | 9.54% | 1 |
| Banks | 8.30% | 1 |
| Unclassified | 5.64% | 3 |
| Pharmaceuticals & Biotechnology | 0.68% | 1 |
| Metals & Mining | 0.63% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | XPO | XPO, Inc. | Industrials | 46.55% |
| 2 | TLN | Talen Energy Corp | Utilities | 20.06% |
| 3 | QXO | QXO, Inc. | Consumer Discretionary | 9.54% |
| 4 | RXO | RXO, Inc. | Industrials | 8.61% |
| 5 | PFSI | PennyMac Financial Services, Inc. | Financials | 8.30% |
| 6 | OXY.WS | OCCIDENTAL PETE CORP | Unclassified | 5.11% |
| 7 | BHC | Bausch Health Companies Inc. | Health Care | 0.68% |
| 8 | IE | Ivanhoe Electric Inc. | Materials | 0.63% |
| 9 | KRSP | RICE ACQUISITION CORP 3 | Unclassified | 0.52% |
| 10 | KRSP.WS | RICE ACQUISITION CORP 3 | Unclassified | 0.01% |
7/10 names classified · sector 94.4% of weight · industry 94.4% · mkt cap 94.4%; 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: 94.4% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 65.7% of book weight (5/10 names) · unclassified 34.3%: TLN, RXO, OXY.WS, KRSP, KRSP.WS. 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 | XPOXPO INC | 11,425,369 | $2.2B | 46.6% | HOLD |
| 2 | TLNTALEN ENERGY CORP | 3,000,000 | $958M | 20.1% | HOLD |
| 3 | QXOQXO INC | 23,454,350 | $455M | 9.5% | TRIM −23% |
| 4 | RXORXO INC | 28,109,942 | $411M | 8.6% | HOLD |
| 5 | PFSIPENNYMAC FINL SVCS INC NEW | 4,531,792 | $396M | 8.3% | HOLD |
| 6 | OXY.WSOCCIDENTAL PETE CORP | 5,690,600 | $244M | 5.1% | HOLD |
| 7 | BHCBAUSCH HEALTH COS INC | 6,000,000 | $32M | 0.7% | HOLD |
| 8 | IEIVANHOE ELECTRIC INC | 2,553,191 | $30M | 0.6% | HOLD |
| 9 | KRSPRICE ACQUISITION CORP 3 | 2,400,000 | $25M | 0.5% | HOLD |
| 10 | KRSP.WSRICE ACQUISITION CORP 3 | 400,000 | $320,000 | 0.0% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| XPOXPO INC | 11.4M | 11.4M | 11.4M | 11.4M | 11.4M | 11.4M | $2.2B |
| TLNTALEN ENERGY CORP | 3.0M | 3.0M | 3.0M | 3.0M | 3.0M | 3.0M | $958M |
| QXOQXO INC | 46.9M | 46.9M | 46.9M | 38.3M | 30.3M | 23.5M | $455M |
| RXORXO INC | 27.6M | 27.6M | 27.6M | 27.6M | 27.6M | 28.1M | $411M |
| PFSIPENNYMAC FINL SVCS INC NEW | 4.5M | 4.5M | 4.5M | 4.5M | 4.5M | 4.5M | $396M |
| OXY/WSOCCIDENTAL PETE CORP | 5.7M | 5.7M | 5.7M | 5.7M | 5.7M | 5.7M | $244M |
| BHCBAUSCH HEALTH COS INC | 6.0M | 6.0M | 6.0M | 6.0M | 6.0M | 6.0M | $32M |
| IEIVANHOE ELECTRIC INC | 2.6M | 2.6M | 2.6M | 2.6M | 2.6M | 2.6M | $30M |
| KRSPRICE ACQUISITION CORP 3 | — | — | — | — | 2.4M | 2.4M | $25M |
| KRSP/WSRICE ACQUISITION CORP 3 | — | — | — | — | 400K | 400K | $320,000 |
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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