CIK 859139
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 |
|---|---|---|
| Unclassified | 40.39% | 9 |
| Utilities | 15.75% | 2 |
| Real Estate Management & Development | 7.60% | 1 |
| Semiconductors & Semiconductor Equipment | 7.36% | 1 |
| Equity Real Estate Investment Trusts (REITs) | 6.83% | 4 |
| Specialty Retail | 6.19% | 2 |
| Aerospace & Defense | 4.41% | 3 |
| Banks | 2.60% | 3 |
| Software | 2.03% | 2 |
| Software & IT Services | 1.96% | 1 |
| Oil, Gas & Consumable Fuels | 1.84% | 1 |
| Road & Rail | 1.64% | 1 |
| Hotels, Restaurants & Leisure | 1.41% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | JAAA | JANUS DETROIT STR TR | Unclassified | 14.83% |
| 2 | ET | Energy Transfer LP | Utilities | 12.49% |
| 3 | ASHR | DBX ETF TR XTRACK HRVST CSI | Unclassified | 8.77% |
| 4 | FXI | ISHARES TR | Unclassified | 7.79% |
| 5 | EFC | Ellington Financial Inc. | Real Estate | 7.60% |
| 6 | TSM | Taiwan Semiconductor Manufacturing Co Ltd | Information Technology | 7.36% |
| 7 | VTI | VANGUARD INDEX FDS | Unclassified | 6.05% |
| 8 | RITM | Rithm Capital Corp. | Real Estate | 4.67% |
| 9 | WMT | Walmart Inc. | Consumer Discretionary | 3.92% |
| 10 | LNG | Cheniere Energy, Inc. | Utilities | 3.26% |
22/31 names classified · sector 59.6% of weight · industry 59.6% · mkt cap 52.3%; 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: 59.6% of the book is sector-classified (unclassified names shown, never dropped).
Only 34% of book weight classified — the grid is NOT representative of the whole book.
Classified: 33.8% of book weight (14/31 names) · unclassified 66.2%: JAAA, ET, ASHR, FXI, TSM, VTI, CZR, EARN, TSLX, HUT +7 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 | JAAAJANUS DETROIT STR TR | 646,695 | $33M | 14.8% | TRIM −24% |
| 2 | ETENERGY TRANSFER L P | 1,421,945 | $27M | 12.5% | HOLD |
| 3 | ASHRDBX ETF TR XTRACK HRVST CSI | 590,280 | $19M | 8.8% | HOLD |
| 4 | FXIISHARES TR | 476,390 | $17M | 7.8% | HOLD |
| 5 | EFCELLINGTON FINANCIAL INC | 1,408,396 | $17M | 7.6% | ADD 95% |
| 6 | TSMTAIWAN SEMICONDUCTOR MFG LTD | 47,830 | $16M | 7.4% | HOLD |
| 7 | VTIVANGUARD INDEX FDS | 41,400 | $13M | 6.0% | HOLD |
| 8 | RITMRITHM CAPITAL CORP | 1,081,000 | $10M | 4.7% | NEW |
| 9 | WMTWALMART INC | 69,260 | $9M | 3.9% | ADD 22% |
| 10 | LNGCheniere Energy, Inc | 25,220 | $7M | 3.3% | HOLD |
| 11 | AMZNAMAZON COM INC | 24,000 | $5M | 2.3% | HOLD |
| 12 | KRMNKARMAN HLDGS INC | 54,645 | $4M | 2.0% | HOLD |
| 13 | GOOGLALPHABET INC | 15,000 | $4M | 2.0% | NEW |
| 14 | EXEEXPAND ENERGY CORPORATION | 36,720 | $4M | 1.8% | HOLD |
| 15 | MSFTMICROSOFT CORP | 10,800 | $4M | 1.8% | HOLD |
| 16 | UPSUNITED PARCEL SERVICE INC | 36,535 | $4M | 1.6% | ADD 63% |
| 17 | KTOSKRATOS DEFENSE & SEC SOLUTIO | 44,030 | $3M | 1.4% | HOLD |
| 18 | CZRCAESARS ENTERTAINMENT INC NE | 116,890 | $3M | 1.4% | HOLD |
| 19 | EARNELLINGTON CREDIT COMPANY | 608,700 | $3M | 1.2% | HOLD |
| 20 | AVAVAEROVIRONMENT INC | 12,085 | $2M | 1.0% | HOLD |
| 21 | TSLXSIXTH STREET SPECIALTY LENDI | 116,141 | $2M | 1.0% | ADD 262% |
| 22 | HUTHUT 8 CORP | 42,900 | $2M | 0.9% | NEW |
| 23 | WULFTERAWULF INC | 130,720 | $2M | 0.9% | NEW |
| 24 | CIFRCIPHER MINING INC | 140,845 | $2M | 0.8% | NEW |
| 25 | ACREARES COML REAL ESTATE CORP | 334,937 | $2M | 0.7% | ADD 56% |
| 26 | OXLCOXFORD LANE CAP CORP | 145,030 | $1M | 0.6% | HOLD |
| 27 | ARCCARES CAPITAL CORP | 77,000 | $1M | 0.6% | ADD 208% |
| 28 | IEFISHARES TR | 11,900 | $1M | 0.5% | NEW |
| 29 | CCCCCC INTELLIGENT SOLUTIONS HL | 76,529 | $459,174 | 0.2% | HOLD |
| 30 | LADRLADDER CAP CORP | 45,000 | $439,650 | 0.2% | NEW |
| 31 | GSBDGOLDMAN SACHS BDC INC | 47,177 | $418,932 | 0.2% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| JAAAJANUS DETROIT STR TR | 398K | 847K | 847K | 847K | 847K | 647K | $33M |
| ETENERGY TRANSFER L P | 1.4M | 1.4M | 1.4M | 1.4M | 1.4M | 1.4M | $27M |
| ASHRDBX ETF TR XTRACK HRVST CSI | 139K | 288K | 288K | 443K | 590K | 590K | $19M |
| FXIISHARES TR | 120K | 234K | 234K | 357K | 476K | 476K | $17M |
| EFCELLINGTON FINANCIAL INC | 388K | 560K | 722K | 722K | 722K | 1.4M | $17M |
| TSMTAIWAN SEMICONDUCTOR MFG LTD | 48K | 48K | 48K | 48K | 48K | 48K | $16M |
| VTIVANGUARD INDEX FDS | 168K | 59K | — | 12K | 41K | 41K | $13M |
| RITMRITHM CAPITAL CORP | — | — | — | — | — | 1.1M | $10M |
| WMTWALMART INC | — | — | — | — | 57K | 69K | $9M |
| LNGCheniere Energy, Inc | 25K | 25K | 25K | 25K | 25K | 25K | $7M |
| AMZNAMAZON COM INC | 24K | 24K | 24K | 24K | 24K | 24K | $5M |
| KRMNKARMAN HLDGS INC | — | — | — | 55K | 55K | 55K | $4M |
| GOOGLALPHABET INC | — | — | — | — | — | 15K | $4M |
| EXEEXPAND ENERGY CORPORATION | 37K | 37K | 37K | 37K | 37K | 37K | $4M |
| MSFTMICROSOFT CORP | 11K | 11K | 11K | 11K | 11K | 11K | $4M |
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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