Sector breakdown

04
Communication Services 41.6%
Materials 14.1%
Industrials 11.8%
Healthcare 10.9%
Consumer products 5.4%
Utilities 5.0%
Other/Unmapped 11.2%

Full portfolio 18 positions

05
Type Streak 8Q trend
WBD Warner Bros. Discovery, Inc. - Series A Common Stock $60,651,420 19.82% 2,274,997 $14,980,937 Up ×2
IHS IHS Holding Limited Ordinary Shares $35,608,633 11.64% 4,321,436 $-140,734 Down ×1
SLSR CUSIP: 83419D201 $34,320,463 11.22% 4,080,050 $-941,289 Down ×1
EA Electronic Arts Inc. - Common Stock $30,896,247 10.10% 150,684 Up ×1
LIN Linde plc - Ordinary Shares $30,399,505 9.93% 58,580 Up ×1
NSC Norfolk Southern Corporation Common Stock $30,107,521 9.84% 95,704 $2,445,026 Down ×1
KMB Kimberly-Clark Corporation - Common Stock $16,481,636 5.39% 150,147 Up ×1
TXNM TXNM Energy, Inc. Common Stock $15,349,048 5.02% 274,400 Up ×1
RVMD Revolution Medicines, Inc. - Common Stock $14,982,400 4.90% 80,000 $1,533,697 Down ×1
EGO Eldorado Gold Corporation Ordinary Shares $12,755,799 4.17% 409,853 Up ×1
ESPR Esperion Therapeutics, Inc. - Common Stock $10,428,000 3.41% 3,300,000 Up ×1
UNF Unifirst Corporation Common Stock $5,914,648 1.93% 22,365 Up ×1
ABVX Abivax SA - American Depositary Shares $5,490,312 1.79% 41,200 $3,686,442 Up ×2
GPCR Structure Therapeutics Inc. - American Depositary Shares $1,996,524 0.65% 37,200 $309,524 Up ×1
RVMD Revolution Medicines, Inc. - Common Stock $444,000 0.15% 600 Call option Up ×1
WBD Warner Bros. Discovery, Inc. - Series A Common Stock $130,000 0.04% 10,000 Put option Up ×1
RVMD Revolution Medicines, Inc. - Common Stock $36,750 0.01% 700 Put option Up ×1
QXO QXO, Inc. Common Stock $829 0.00% 48 Up ×1

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
EA $30,896,247 150,684 10.10%
LIN $30,399,505 58,580 9.93%
KMB $16,481,636 150,147 5.39%
TXNM $15,349,048 274,400 5.02%
EGO $12,755,799 409,853 4.17%
ESPR $10,428,000 3,300,000 3.41%
UNF $5,914,648 22,365 1.93%
RVMD $444,000 600 0.15%
WBD $130,000 10,000 0.04%
RVMD $36,750 700 0.01%
QXO $829 48 0.00%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
WBD Bought more +612K +$15.0M
ABVX Bought more +25K +$3.7M
NSC Trimmed -681 +$2.4M
RVMD Trimmed -58K +$1.5M
SLSR Trimmed -4K -$941K
GPCR Bought more +2K +$310K
IHS Trimmed -22K -$141K

Exited positions

11

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarterShares beforeValue beforePrice since exit
TGI Sept. 30, 2025 1,296,128 $333,754,296 No longer tracked
K Dec. 31, 2025 521,504 $42,773,758 No longer tracked
HES Sept. 30, 2025 293,715 $40,691,276 No longer tracked
HOLX June 30, 2026 405,920 $30,683,493 No longer tracked
ITCI June 30, 2025 229,086 $30,221,025 No longer tracked
GTLS June 30, 2026 117,407 $24,273,897 No longer tracked
AAUC June 30, 2026 740,000 $22,900,582 -16.8%
TECK Dec. 31, 2025 432,566 $18,985,322 41.7%
DESP June 30, 2025 990,697 $18,615,197 No longer tracked
COMP March 31, 2026 1,751,304 $18,511,283 27.1%
BL March 31, 2026 304,576 $16,840,007 -24.0%
FOLD June 30, 2026 1,101,228 $15,923,757 No longer tracked
PEN June 30, 2026 42,785 $14,049,310 0.4%
DBRG March 31, 2026 846,500 $12,918,100 No longer tracked
RNA March 31, 2026 168,415 $12,147,773 -40.4%
TASK Dec. 31, 2025 635,084 $11,336,249 -31.5%
SWTX Sept. 30, 2025 216,000 $10,149,840 No longer tracked
ETWO Sept. 30, 2025 3,125,000 $10,093,750 No longer tracked
PRA June 30, 2026 368,059 $9,098,418 No longer tracked
HOLX Dec. 31, 2025 124,813 $8,423,629 No longer tracked
CORZ Dec. 31, 2025 405,800 $7,280,052 14.0%
ACLX June 30, 2026 55,251 $6,343,920 No longer tracked
BHF Dec. 31, 2025 99,000 $5,254,920 -23.1%
WNS Dec. 31, 2025 66,850 $5,098,650 No longer tracked
FWRD March 31, 2026 175,760 $4,394,000 -9.8%
OLPX June 30, 2026 1,415,716 $2,873,903 No longer tracked
DCH Sept. 30, 2025 369,395 $1,507,132 -6.0%