CIK 1866872
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 |
|---|---|---|
| Diversified Telecommunication Services | 29.79% | 3 |
| Utilities | 24.58% | 2 |
| Unclassified | 13.29% | 4 |
| Health Care Providers & Services | 12.76% | 3 |
| Communications Equipment | 10.09% | 1 |
| Equity Real Estate Investment Trusts (REITs) | 5.23% | 7 |
| Hotels, Restaurants & Leisure | 2.69% | 1 |
| Media & Entertainment | 0.62% | 1 |
| Diversified Consumer Services | 0.45% | 1 |
| Entertainment | 0.39% | 1 |
| Banks | 0.11% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | TLN | Talen Energy Corp | Utilities | 14.92% |
| 2 | TDS | TELEPHONE & DATA SYSTEMS INC /DE/ | Communication Services | 14.11% |
| 3 | VSAT | VIASAT INC | Communication Services | 10.72% |
| 4 | VISN | Vistance Networks, Inc. | Information Technology | 10.09% |
| 5 | CTRI | Centuri Holdings, Inc. | Utilities | 9.66% |
| 6 | BKD | Brookdale Senior Living Inc. | Health Care | 8.52% |
| 7 | ECHOSTAR CORP | Unclassified | 6.66% | |
| 8 | SPHERE ENTERTAINMENT CO | Unclassified | 5.21% | |
| 9 | ECHO | EchoStar CORP | Communication Services | 4.95% |
| 10 | ACHC | Acadia Healthcare Company, Inc. | Health Care | 3.96% |
21/25 names classified · sector 86.7% of weight · industry 86.7% · mkt cap 86.7%; 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: 86.7% of the book is sector-classified (unclassified names shown, never dropped).
Only 25% of book weight classified — the grid is NOT representative of the whole book.
Classified: 25.4% of book weight (10/23 names) · unclassified 74.6%: TLN, TDS, , VSAT, BKD, ECHO, ACHC, DHC, VAL.WS, OPTU +3 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 | TLNTALEN ENERGY CORP | 644,484 | $206M | 14.9% | ADD 12% |
| 2 | TDSTELEPHONE & DATA SYS INC | 4,623,934 | $195M | 14.1% | ADD 10% |
| 3 | VSATVIASAT INC | 3,229,296 | $148M | 10.7% | ADD 9% |
| 4 | VISNCOMMSCOPE HLDG CO INC | 7,646,722 | $139M | 10.1% | ADD 394% |
| 5 | CTRICENTURI HOLDINGS INC | 4,563,312 | $133M | 9.7% | ADD 14% |
| 6 | BKDBROOKDALE SR LIVING INC | 8,586,874 | $117M | 8.5% | ADD 17% |
| 7 | ECHOSTAR CORP | 25,538,496 | $92M | 6.7% | ADD 4% |
| 8 | SPHERE ENTERTAINMENT CO | 21,384,000 | $72M | 5.2% | HOLD |
| 9 | ECHOECHOSTAR CORP | 583,085 | $68M | 4.9% | TRIM −9% |
| 10 | ACHCACADIA HEALTHCARE COMPANY IN | 2,337,236 | $55M | 4.0% | NEW |
| 11 | CNNECANNAE HLDGS INC | 3,262,648 | $37M | 2.7% | HOLD |
| 12 | DHCDIVERSIFIED HEALTHCARE TR | 5,268,435 | $35M | 2.5% | ADD 11% |
| 13 | VAL.WSVALARIS LTD | 1,006,319 | $16M | 1.2% | ADD 46% |
| 14 | OPTUOPTIMUM COMMUNICATIONS INC | 6,573,682 | $9M | 0.6% | ADD 9% |
| 15 | CPTCAMDEN PPTY TR | 77,393 | $8M | 0.5% | TRIM −21% |
| 16 | EQREQUITY RESIDENTIAL | 123,062 | $7M | 0.5% | TRIM −21% |
| 17 | UDRUDR INC | 208,225 | $7M | 0.5% | TRIM −21% |
| 18 | AVBAVALONBAY CMNTYS INC | 41,180 | $7M | 0.5% | TRIM −21% |
| 19 | WWWW INTL INC | 456,720 | $6M | 0.5% | HOLD |
| 20 | SPHRSPHERE ENTERTAINMENT CO | 45,695 | $5M | 0.4% | NEW |
| 21 | ESSEssex Property Trust | 17,705 | $4M | 0.3% | TRIM −21% |
| 22 | MAAMID-AMER APT CMNTYS INC | 34,837 | $4M | 0.3% | TRIM −21% |
| 23 | CYHCOMMUNITY HEALTH SYS INC NEW | 1,321,923 | $4M | 0.3% | ADD 307% |
| 24 | BROOKDALE SR LIVING INC | 2,000,000 | $3M | 0.2% | HOLD |
| 25 | CORZCORE SCIENTIFIC INC NEW | 101,103 | $2M | 0.1% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| TLNTALEN ENERGY CORP | 462K | 41K | 543K | 561K | 577K | 644K | $206M |
| TDSTELEPHONE & DATA SYS INC | 1.9M | 1.0M | 3.4M | 3.7M | 4.2M | 4.6M | $195M |
| VSATVIASAT INC | — | 454K | — | 2.6M | 3.0M | 3.2M | $148M |
| VISNCOMMSCOPE HLDG CO INC | 2.1M | 1.1M | 1.5M | 1.3M | 1.5M | 7.6M | $139M |
| CTRICENTURI HOLDINGS INC | 1.3M | 91K | 1.4M | 3.1M | 4.0M | 4.6M | $133M |
| BKDBROOKDALE SR LIVING INC | 3.3M | 687K | 6.9M | 7.1M | 7.3M | 8.6M | $117M |
| ECHOSTAR CORP | 21.9M | 22.3M | 22.7M | 23.7M | 24.6M | 25.5M | $92M |
| SPHERE ENTERTAINMENT CO | 10.5M | 2.5M | 20.2M | 20.2M | 21.1M | 21.4M | $72M |
| ECHOECHOSTAR CORP | — | — | — | 625K | 644K | 583K | $68M |
| ACHCACADIA HEALTHCARE COMPANY IN | — | — | — | — | — | 2.3M | $55M |
| CNNECANNAE HLDGS INC | 1.8M | 3.0M | 3.2M | 3.2M | 3.3M | 3.3M | $37M |
| DHCDIVERSIFIED HEALTHCARE TR | — | 235K | 1.6M | 4.6M | 4.8M | 5.3M | $35M |
| VAL/WSVALARIS LTD | 687K | 23.6M | 687K | 687K | 687K | 1.0M | $16M |
| OPTUOPTIMUM COMMUNICATIONS INC | 2.0M | 5.6M | 4.1M | 5.8M | 6.0M | 6.6M | $9M |
| CPTCAMDEN PPTY TR | 75K | 3.9M | 96K | 96K | 98K | 77K | $8M |
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.
Where this firm's principals came from and which firms its alumni went on to found.
