CIK 1830731
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 | 40.37% | 1 |
| Diversified Telecommunication Services | 35.83% | 1 |
| Transportation Infrastructure | 13.90% | 2 |
| Technology Hardware & Equipment | 7.82% | 2 |
| Unclassified | 2.08% | 2 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | TLN | Talen Energy Corp | Utilities | 40.37% |
| 2 | ECHO | EchoStar CORP | Communication Services | 35.83% |
| 3 | GBTG | Global Business Travel Group, Inc. | Industrials | 12.80% |
| 4 | STX | Seagate Technology Holdings plc | Information Technology | 4.05% |
| 5 | WDC | WESTERN DIGITAL CORP | Information Technology | 3.77% |
| 6 | VOO | VANGUARD INDEX FDS | Unclassified | 1.29% |
| 7 | RXO | RXO, Inc. | Industrials | 1.10% |
| 8 | QQQ | INVESCO QQQ TR | Unclassified | 0.79% |
6/8 names classified · sector 97.9% of weight · industry 97.9% · mkt cap 97.9%; 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: 97.9% 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: 20.6% of book weight (3/8 names) · unclassified 79.4%: TLN, ECHO, VOO, RXO, QQQ. 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 | TLNTALEN ENERGY CORP | 479,936 | $153M | 40.4% | ADD 234% |
| 2 | ECHOECHOSTAR CORP | 1,161,754 | $136M | 35.8% | ADD 159% |
| 3 | GBTGGLOBAL BUSINESS TRAVEL GROUP | 8,878,004 | $49M | 12.8% | HOLD |
| 4 | STXSEAGATE TECHNOLOGY HLDNGS PL | 39,222 | $15M | 4.0% | NEW |
| 5 | WDCWESTERN DIGITAL CORP | 52,927 | $14M | 3.8% | ADD 140% |
| 6 | VOOVANGUARD INDEX FDS | 8,218 | $5M | 1.3% | HOLD |
| 7 | RXORXO INC | 285,600 | $4M | 1.1% | HOLD |
| 8 | QQQINVESCO QQQ TR | 5,354 | $3M | 0.8% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| TLNTALEN ENERGY CORP | — | — | — | — | 144K | 480K | $153M |
| ECHOECHOSTAR CORP | — | — | — | — | 449K | 1.2M | $136M |
| GBTGGLOBAL BUSINESS TRAVEL GROUP | — | — | — | — | 8.9M | 8.9M | $49M |
| STXSEAGATE TECHNOLOGY HLDNGS PL | — | — | — | — | — | 39K | $15M |
| WDCWESTERN DIGITAL CORP | — | — | — | — | 22K | 53K | $14M |
| VOOVANGUARD INDEX FDS | — | — | — | — | 8K | 8K | $5M |
| RXORXO INC | — | — | — | — | 286K | 286K | $4M |
| QQQINVESCO QQQ TR | — | — | — | — | 5K | 5K | $3M |
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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