CIK 913144
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 | 69.46% | 2 |
| Insurance | 30.54% | 3 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | HYDB | ISHARES TR | Unclassified | 57.92% |
| 2 | ESNT | Essent Group Ltd. | Financials | 23.97% |
| 3 | REMX | VANECK ETF TRUST | Unclassified | 11.55% |
| 4 | UVE | UNIVERSAL INSURANCE HOLDINGS, INC. | Financials | 4.91% |
| 5 | TRUP | TRUPANION, INC. | Financials | 1.66% |
3/5 names classified · sector 30.5% of weight · industry 30.5% · mkt cap 30.5%; 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: 30.5% of the book is sector-classified (unclassified names shown, never dropped).
Only 31% of book weight classified — the grid is NOT representative of the whole book.
Classified: 30.5% of book weight (3/5 names) · unclassified 69.5%: HYDB, REMX. 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 | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| HYDBISHARES TR | — | 5.1M | 5.1M | 5.1M | 5.1M | 5.1M | $235M |
| ESNTESSENT GROUP LTD | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | $97M |
| REMXVANECK ETF TRUST | — | — | — | — | — | 533K | $47M |
| UVEUNIVERSAL INS HLDGS INC | 584K | 584K | 584K | 584K | 584K | 584K | $20M |
| TRUPTRUPANION INC | 263K | 263K | 263K | 263K | 263K | 263K | $7M |
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.
