13F holdings as of 2025-06-30 · vs 2025-03-31 · long US-listed positions only
| # | Holding | Shares | Value | % of 13F | QoQ Δ | |
|---|---|---|---|---|---|---|
| 1 | SPYSTATE STR SPDR S&P 500 ETF T | NEW | 341K | $210.7M | 56.4% | new |
| 2 | EQTEQT CORP | ADD | 1.1M | $65.3M | 17.5% | +$27.5M |
| 3 | WMBWILLIAMS COS INC | NEW | 500K | $31.4M | 8.4% | new |
| 4 | VSTVISTRA CORP | NEW | 110K | $21.3M | 5.7% | new |
| 5 | EXEEXPAND ENERGY CORPORATION | TRIM | 177K | $20.7M | 5.5% | -$14.6M |
| 6 | FCXFREEPORT MCMORAN INC | NEW | 230K | $10.0M | 2.7% | new |
| 7 | CNXCNX RES CORP | NEW | 174K | $5.8M | 1.6% | new |
| 8 | ATOATMOS ENERGY CORP | NEW | 33K | $5.1M | 1.4% | new |
| 9 | FLNCFLUENCE ENERGY INC | NEW | 500K | $3.4M | 0.9% | new |
| 10 | 960413952 | 2K | $18K | 0.0% | +$13K |
Source: SEC Form 13F. Values are as-of 2025-06-30 (quarter-end), not live. Percentages are of reported 13F value, not the fund’s full AUM (13F excludes shorts, cash, bonds, most non-US holdings).