CIK 1822973
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 | 49.84% | 4 |
| Oil, Gas & Consumable Fuels | 23.04% | 2 |
| Banks | 16.88% | 2 |
| Capital Markets | 6.73% | 1 |
| Aerospace & Defense | 2.95% | 1 |
| Unclassified | 0.47% | 1 |
| Pharmaceuticals & Biotechnology | 0.10% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | AU | ANGLOGOLD ASHANTI PLC | Materials | 26.44% |
| 2 | PBR | PETROBRAS - PETROLEO BRASILEIRO SA | Energy | 14.15% |
| 3 | B | BARRICK MINING CORP | Materials | 12.87% |
| 4 | ITUB | Itau Unibanco Holding S.A. | Financials | 11.31% |
| 5 | YPF | YPF SOCIEDAD ANONIMA | Energy | 8.89% |
| 6 | FCX | FREEPORT-MCMORAN INC | Materials | 7.81% |
| 7 | XP | XP CLASS A INC | Financials | 6.73% |
| 8 | HDB | HDFC Bank Ltd | Financials | 5.57% |
| 9 | EMBJ | EMBRAER S.A. | Industrials | 2.95% |
| 10 | TX | Ternium S.A. | Materials | 2.71% |
11/12 names classified · sector 99.5% of weight · industry 99.5% · mkt cap 7.9%; 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: 99.5% of the book is sector-classified (unclassified names shown, never dropped).
Only 8% of book weight classified — the grid is NOT representative of the whole book.
Classified: 7.8% of book weight (1/12 names) · unclassified 92.2%: AU, PBR, B, ITUB, YPF, XP, HDB, EMBJ, TX, ALVO +1 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 | AUANGLOGOLD ASHANTI PLC | 153,375 | $15M | 26.4% | TRIM −6% |
| 2 | PBRPETROLEO BRASILEIRO S A | 385,174 | $8M | 14.2% | NEW |
| 3 | BBARRICK MNG CORP | 178,194 | $7M | 12.9% | HOLD |
| 4 | ITUBITAU UNIBANCO HLDG S A | 761,827 | $6M | 11.3% | HOLD |
| 5 | YPFYPF SOCIEDAD ANONIMA | 108,600 | $5M | 8.9% | NEW |
| 6 | FCXFREEPORT MCMORAN INC | 74,995 | $4M | 7.8% | HOLD |
| 7 | XPXP INC | 199,519 | $4M | 6.7% | ADD 7% |
| 8 | HDBHDFC BANK LTD | 126,519 | $3M | 5.6% | HOLD |
| 9 | EMBJEMBRAER S.A. | 28,056 | $2M | 2.9% | NEW |
| 10 | TXTERNIUM SA | 38,186 | $2M | 2.7% | HOLD |
| 11 | ALVOALVOTECH | 217,663 | $263,590 | 0.5% | ADD 48% |
| 12 | BTAIBIOXCEL THERAPEUTICS INC | 42,913 | $57,503 | 0.1% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| AUANGLOGOLD ASHANTI PLC | 345K | 329K | 257K | 195K | 162K | 153K | $15M |
| PBRPETROLEO BRASILEIRO S A | 223K | 173K | — | — | — | 385K | $8M |
| BBARRICK MNG CORP | — | — | 191K | 191K | 181K | 178K | $7M |
| ITUBITAU UNIBANCO HLDG S A | — | 454K | 657K | 753K | 776K | 762K | $6M |
| YPFYPF SOCIEDAD ANONIMA | — | — | 37K | — | — | 109K | $5M |
| FCXFREEPORT MCMORAN INC | 113K | 138K | 115K | 81K | 76K | 75K | $4M |
| XPXP INC | — | — | — | 117K | 187K | 200K | $4M |
| HDBHDFC BANK LTD | 69K | 66K | 68K | 136K | 129K | 127K | $3M |
| EMBJEMBRAER S.A. | — | — | — | — | — | 28K | $2M |
| TXTERNIUM SA | 52K | 50K | 52K | 52K | 39K | 38K | $2M |
| ALVOALVOTECH | 116K | 105K | 76K | 76K | 147K | 218K | $263,590 |
| BTAIBIOXCEL THERAPEUTICS INC | — | — | 43K | 43K | 43K | 43K | $57,503 |
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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