CIK 2052484
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 |
|---|---|---|
| Hotels, Restaurants & Leisure | 28.12% | 10 |
| Entertainment | 28.05% | 7 |
| Oil, Gas & Consumable Fuels | 8.66% | 4 |
| Software & IT Services | 7.22% | 3 |
| Commercial Services & Supplies | 5.49% | 4 |
| Equity Real Estate Investment Trusts (REITs) | 5.39% | 2 |
| Unclassified | 4.84% | 4 |
| Coal & Consumable Fuels | 3.53% | 1 |
| Marine | 2.54% | 2 |
| Utilities | 2.39% | 1 |
| Airlines | 1.79% | 1 |
| Leisure Products | 0.71% | 1 |
| Diversified Telecommunication Services | 0.50% | 1 |
| Specialty Retail | 0.36% | 1 |
| Construction Materials | 0.21% | 1 |
| Transportation Infrastructure | 0.20% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | PENN | PENN Entertainment, Inc. | Consumer Discretionary | 8.28% |
| 2 | BRSL | Brightstar Lottery PLC | Communication Services | 8.22% |
| 3 | CHDN | Churchill Downs Inc | Communication Services | 7.36% |
| 4 | PPLI | People Inc | Information Technology | 5.82% |
| 5 | GLPI | Gaming & Leisure Properties, Inc. | Real Estate | 5.08% |
| 6 | PRKS | United Parks & Resorts Inc. | Communication Services | 4.95% |
| 7 | KRP | Kimbell Royalty Partners, LP | Energy | 4.92% |
| 8 | MTN | VAIL RESORTS INC | Communication Services | 4.39% |
| 9 | H | Hyatt Hotels Corp | Consumer Discretionary | 3.69% |
| 10 | CZR | Caesars Entertainment, Inc. | Consumer Discretionary | 3.55% |
40/44 names classified · sector 95.2% of weight · industry 95.2% · mkt cap 95.2%; 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: 95.2% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 50.1% of book weight (22/44 names) · unclassified 49.9%: PENN, BRSL, PPLI, KRP, CZR, ARLP, UHAL.B, SDRL, RJET, AESI +12 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 | PENNPENN ENTERTAINMENT INC | 643,400 | $10M | 8.3% | ADD 16% |
| 2 | BRSLBRIGHTSTAR LOTTERY PLC | 753,596 | $10M | 8.2% | ADD 2% |
| 3 | CHDNCHURCHILL DOWNS INC | 95,700 | $9M | 7.4% | ADD 28% |
| 4 | PPLIIAC INC | 170,000 | $7M | 5.8% | ADD 10% |
| 5 | GLPIGAMING & LEISURE P | 133,874 | $6M | 5.1% | HOLD |
| 6 | PRKSUNITED PARKS & RESORTS INC | 177,000 | $6M | 4.9% | ADD 6% |
| 7 | KRPKIMBELL RTY PARTNERS LP | 397,554 | $6M | 4.9% | TRIM −17% |
| 8 | MTNVAIL RESORTS INC | 40,000 | $5M | 4.4% | ADD 33% |
| 9 | HHYATT HOTELS CORP | 30,000 | $4M | 3.7% | ADD 100% |
| 10 | CZRCAESARS ENTERTAINMENT INC NE | 157,111 | $4M | 3.6% | ADD 42% |
| 11 | ARLPALLIANCE RESOURCE PARTNERS L | 149,064 | $4M | 3.5% | ADD 7% |
| 12 | UHALU HAUL HOLDING COMPANY | 79,203 | $4M | 3.2% | TRIM −38% |
| 13 | MGMMGM RESORTS INTERNATIONAL | 100,000 | $4M | 3.2% | TRIM −13% |
| 14 | WHWYNDHAM HOTELS & RESORTS INC | 35,000 | $3M | 2.4% | ADD 250% |
| 15 | KGSKODIAK GAS SVCS INC | 47,981 | $3M | 2.4% | TRIM −74% |
| 16 | UHAL.BU HAUL HOLDING COMPANY | 60,599 | $3M | 2.3% | NEW |
| 17 | RRRRED ROCK RESORTS INC | 50,000 | $3M | 2.3% | NEW |
| 18 | WYNNWYNN RESORTS LTD | 25,000 | $3M | 2.2% | TRIM −44% |
| 19 | SDRLSEADRILL LTD | 55,000 | $3M | 2.1% | TRIM −45% |
| 20 | RJETREPUBLIC AWYS HLDGS INC | 116,989 | $2M | 1.8% | ADD 47% |
| 21 | AESIATLAS ENERGY SOLUTIONS INC | 130,000 | $2M | 1.5% | ADD 30% |
| 22 | FLLFULL HSE RESORTS INC | 714,897 | $2M | 1.4% | ADD 41% |
| 23 | NCLHNORWEGIAN CRUISE LINE HLDGS | 80,000 | $1M | 1.3% | ADD 78% |
| 24 | VIKVIKING HOLDINGS LTD | 20,000 | $1M | 1.3% | HOLD |
| 25 | LYFTLYFT INC | 110,000 | $1M | 1.3% | HOLD |
| 26 | ACELACCEL ENTERTAINMENT INC | 133,838 | $1M | 1.2% | ADD 75% |
| 27 | GDENGOLDEN ENTMT INC | 54,485 | $1M | 1.2% | HOLD |
| 28 | FUNSIX FLAGS ENTERTAINMENT CORP | 65,000 | $1M | 1.0% | NEW |
| 29 | UBERUBER TECHNOLOGIES INC | 15,000 | $1M | 0.9% | ADD 200% |
| 30 | MSGSMADISON SQUARE GRDN SPRT COR | 3,265 | $1M | 0.9% | HOLD |
| 31 | MTCHMATCH GROUP INC NEW | 30,000 | $921,300 | 0.8% | HOLD |
| 32 | CALYTOPGOLF CALLAWAY BRANDS CORP | 60,000 | $832,800 | 0.7% | TRIM −68% |
| 33 | BYDBOYD GAMING CORP | 10,000 | $821,800 | 0.7% | TRIM −75% |
| 34 | IBITISHARES BITCOIN TRUST ETF | 20,000 | $768,400 | 0.7% | HOLD |
| 35 | BRAEMAR HOTELS & RESORTS INC | 50,000 | $721,500 | 0.6% | NEW |
| 36 | FLUTFLUTTER ENTMT PLC | 7,000 | $713,650 | 0.6% | HOLD |
| 37 | ECHOECHOSTAR CORP | 5,000 | $585,350 | 0.5% | TRIM −50% |
| 38 | LVSLAS VEGAS SANDS CORP | 10,000 | $538,800 | 0.5% | TRIM −80% |
| 39 | KMXCARMAX INC | 10,000 | $415,800 | 0.4% | HOLD |
| 40 | BHRBRAEMAR HOTELS & RESORTS INC | 149,380 | $352,537 | 0.3% | TRIM −54% |
| 41 | GAUGALIANO GOLD INC | 100,000 | $251,000 | 0.2% | HOLD |
| 42 | LINDLINDBLAD EXPEDITIONS HLDGS I | 13,780 | $238,394 | 0.2% | HOLD |
| 43 | TALOTALOS ENERGY INC | 10,000 | $157,600 | 0.1% | TRIM −76% |
| 44 | HTZHERTZ GLOBAL HLDGS INC | 20,000 | $92,200 | 0.1% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| PENNPENN ENTERTAINMENT INC | 340K | 440K | 620K | 558K | 555K | 643K | $10M |
| BRSLBRIGHTSTAR LOTTERY PLC | 470K | 500K | 595K | 639K | 739K | 754K | $10M |
| CHDNCHURCHILL DOWNS INC | 39K | 39K | 104K | 65K | 75K | 96K | $9M |
| PPLIIAC INC | — | — | — | — | 155K | 170K | $7M |
| GLPIGAMING & LEISURE P | 60K | 60K | 50K | 69K | 134K | 134K | $6M |
| PRKSUNITED PARKS & RESORTS INC | 57K | 67K | 82K | 97K | 167K | 177K | $6M |
| KRPKIMBELL RTY PARTNERS LP | 376K | 476K | 461K | 422K | 477K | 398K | $6M |
| MTNVAIL RESORTS INC | — | — | — | 25K | 30K | 40K | $5M |
| HHYATT HOTELS CORP | — | — | 20K | 35K | 15K | 30K | $4M |
| CZRCAESARS ENTERTAINMENT INC NE | 141K | 181K | 71K | 96K | 111K | 157K | $4M |
| ARLPALLIANCE RESOURCE PARTNERS L | 79K | 79K | — | — | 139K | 149K | $4M |
| UHALU HAUL HOLDING COMPANY | 11K | 11K | 11K | 8K | 127K | 79K | $4M |
| MGMMGM RESORTS INTERNATIONAL | 83K | 100K | 30K | 15K | 115K | 100K | $4M |
| WHWYNDHAM HOTELS & RESORTS INC | — | — | — | — | 10K | 35K | $3M |
| KGSKODIAK GAS SVCS INC | 335K | 294K | 191K | 201K | 183K | 48K | $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.
