Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +2.9%
S&P 500 total return (same window) +37.0%
Excess return -34.1%

Annualized: +2.4% · S&P 500: +28.7%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 94.7% · Options excluded: 0.0%

Sector breakdown

04
Energy 59.7%
Consumer Discretionary 38.9%
Other/Unmapped 1.3%

Full portfolio 4 positions

05
Type Streak 8Q trend
PR Permian Resources Corporation Class A Common Stock $18,205,925 58.84% 988,915 $-2,877,743
SLDP Solid Power, Inc. - Class A Common Stock $12,048,587 38.94% 4,651,964 $-2,036,560 Down ×1
SLDPW Solid Power, Inc. - Warrant $414,328 1.34% 4,054,087 $-939,751 Down ×3
CRGY Crescent Energy Company Class A Common Stock $272,034 0.88% 27,702 $-101,943

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
PR Price move only +0 -$2.9M
SLDP Trimmed -43K -$2.0M
SLDPW Trimmed -81K -$940K
CRGY Price move only +0 -$102K

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
VRN June 30, 2025 8,504,474 $56,299,618 No longer tracked
VTLE Dec. 31, 2025 14,533 $245,462 No longer tracked