CIK 1911378
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 |
|---|---|---|
| Coal & Consumable Fuels | 20.48% | 2 |
| Media & Entertainment | 14.86% | 3 |
| Oil, Gas & Consumable Fuels | 14.59% | 3 |
| Banks | 12.69% | 3 |
| Technology Hardware & Equipment | 9.50% | 1 |
| Specialty Retail | 6.29% | 3 |
| Software | 5.06% | 3 |
| Real Estate Management & Development | 5.03% | 4 |
| Entertainment | 3.59% | 1 |
| Commercial Services & Supplies | 3.56% | 1 |
| Insurance | 1.96% | 1 |
| Construction & Engineering | 1.16% | 2 |
| Software & IT Services | 0.89% | 1 |
| Distributors | 0.33% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | NRP | NATURAL RESOURCE PARTNERS LP | Energy | 19.65% |
| 2 | PBI | PITNEY BOWES INC /DE/ | Information Technology | 9.50% |
| 3 | FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | Financials | 9.17% |
| 4 | MCS | MARCUS CORP | Communication Services | 6.72% |
| 5 | BSM | Black Stone Minerals, L.P. | Energy | 6.71% |
| 6 | CNK | Cinemark Holdings, Inc. | Communication Services | 5.08% |
| 7 | CRC | California Resources Corp | Energy | 4.60% |
| 8 | DIS | Walt Disney Co | Communication Services | 3.59% |
| 9 | V | VISA INC. | Financials | 3.56% |
| 10 | GFR | Greenfire Resources Ltd. | Energy | 3.29% |
29/29 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 91.8%; 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: 100.0% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 62.6% of book weight (22/29 names) · unclassified 37.4%: NRP, BSM, GFR, SRBK, TEAM, FPH, MRP. 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 | NRPNATURAL RESOURCE PARTNERS L | 209,467 | $25M | 19.7% | HOLD |
| 2 | PBIPITNEY BOWES INC | 1,108,765 | $12M | 9.5% | ADD 9% |
| 3 | FCNCAFIRST CTZNS BANCSHARES INC D | 6,278 | $12M | 9.2% | TRIM −32% |
| 4 | MCSMARCUS CORP DEL | 504,772 | $9M | 6.7% | HOLD |
| 5 | BSMBLACK STONE MINERALS L P | 572,399 | $9M | 6.7% | TRIM −9% |
| 6 | CNKCINEMARK HOLDINGS INC | 229,627 | $7M | 5.1% | TRIM −15% |
| 7 | CRCCALIFORNIA RES CORP | 85,658 | $6M | 4.6% | TRIM −7% |
| 8 | DISDISNEY WALT CO | 47,985 | $5M | 3.6% | ADD 257% |
| 9 | VVISA INC | 15,193 | $5M | 3.6% | ADD 30% |
| 10 | GFRGREENFIRE RES LTD NEW | 670,713 | $4M | 3.3% | TRIM −2% |
| 11 | NFLXNETFLIX INC | 41,135 | $4M | 3.1% | NEW |
| 12 | FNDFLOOR & DECOR HLDGS INC | 77,451 | $4M | 3.1% | NEW |
| 13 | SRBKSR BANCORP INC | 232,999 | $4M | 3.0% | TRIM −14% |
| 14 | CPRTCOPART INC | 94,652 | $3M | 2.4% | TRIM −5% |
| 15 | TEAMATLASSIAN CORPORATION | 45,825 | $3M | 2.4% | NEW |
| 16 | UNHUNITEDHEALTH GROUP INC | 9,326 | $3M | 2.0% | HOLD |
| 17 | INTUINTUIT | 5,365 | $2M | 1.8% | NEW |
| 18 | DOUGDOUGLAS ELLIMAN INC | 1,368,068 | $2M | 1.7% | ADD 9% |
| 19 | FPHFIVE POINT HOLDINGS LLC | 402,259 | $2M | 1.5% | HOLD |
| 20 | CHCICOMSTOCK HLDG COS INC | 72,279 | $1M | 1.1% | ADD 5% |
| 21 | NVRNVR INC | 185 | $1M | 0.9% | TRIM −3% |
| 22 | WDAYWORKDAY INC | 8,868 | $1M | 0.9% | NEW |
| 23 | MSFTMICROSOFT CORP | 2,900 | $1M | 0.8% | ADD 21% |
| 24 | NCNACCO INDS INC | 20,628 | $1M | 0.8% | TRIM −10% |
| 25 | LELANDS END INC NEW | 92,643 | $1M | 0.8% | NEW |
| 26 | MRPMILLROSE PPTYS INC | 33,150 | $928,200 | 0.7% | TRIM −24% |
| 27 | BVFLBV FINL INC | 31,566 | $604,173 | 0.5% | TRIM −8% |
| 28 | RAVERAVE RESTAURANT GROUP INC | 160,469 | $425,243 | 0.3% | ADD 3% |
| 29 | PHMPULTE GROUP INC | 2,336 | $274,763 | 0.2% | TRIM −71% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| NRPNATURAL RESOURCE PARTNERS L | — | — | — | — | 208K | 209K | $25M |
| PBIPITNEY BOWES INC | — | — | — | — | 1.0M | 1.1M | $12M |
| FCNCAFIRST CTZNS BANCSHARES INC D | — | — | — | — | 9K | 6K | $12M |
| MCSMARCUS CORP DEL | — | — | — | — | 505K | 505K | $9M |
| BSMBLACK STONE MINERALS L P | — | — | — | — | 631K | 572K | $9M |
| CNKCINEMARK HOLDINGS INC | — | — | — | — | 271K | 230K | $7M |
| CRCCALIFORNIA RES CORP | — | — | — | — | 92K | 86K | $6M |
| DISDISNEY WALT CO | — | — | — | — | 13K | 48K | $5M |
| VVISA INC | — | — | — | — | 12K | 15K | $5M |
| GFRGREENFIRE RES LTD NEW | — | — | — | — | 687K | 671K | $4M |
| NFLXNETFLIX INC | — | — | — | — | — | 41K | $4M |
| FNDFLOOR & DECOR HLDGS INC | — | — | — | — | — | 77K | $4M |
| SRBKSR BANCORP INC | — | — | — | — | 271K | 233K | $4M |
| CPRTCOPART INC | — | — | — | — | 99K | 95K | $3M |
| TEAMATLASSIAN CORPORATION | — | — | — | — | — | 46K | $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.
Where this firm's principals came from and which firms its alumni went on to found.
