Southeastern Asset Management Inc

Period:: Q1 2026
Portfolio date:: Mar 31, 2026
No. of stocks:: 48
Portfolio value:: $2,032,771,000
Filed:: May 15, 2026
CIK:: 807985

Hist	Stock	Activity	Share change	% change to portfolio
Q1 2026filed May 15, 2622 added32 reduced4 exited
≡	CNX – CNX RES CORP	Reduce 89.00%	−3,715,996	−5.96
≡	PCH – POTLATCHDELTIC CORPORATION	Sell	−2,828,076	−5.01
≡	IAC – IAC INC	Reduce 81.00%	−2,694,425	−4.55
≡	ACI – ALBERTSONS COS INC	Reduce 99.00%	−5,222,477	−3.99
≡	REGN – REGENERON PHARMACEUTICALS	Reduce 83.00%	−114,750	−3.86
≡	RYN – RAYONIER INC	Reduce 74.00%	−3,790,120	−3.59
≡	ACI – ALBERTSONS COS INC	Reduce 79.00%	−4,178,775	−3.11
≡	GLIBA – GCI LIBERTY INC	Reduce 100.00%	−1,316,862	−2.18
≡	WTM – WHITE MTNS INS GROUP LTD	Reduce 86.00%	−22,615	−2.04
≡	TRIP – TRIPADVISOR INC	Reduce 100.00%	−2,826,992	−1.83
≡	PVH – PVH CORPORATION	Reduce 87.00%	−564,245	−1.65
≡	FBIN – FORTUNE BRANDS INNOVATIONS I	Reduce 66.00%	−658,661	−1.57
≡	SHEN – SHENANDOAH TELECOMMUNICATION	Reduce 100.00%	−2,931,558	−1.51
≡	ACMR – ACM RESH INC	Reduce 53.00%	−897,281	−1.44
≡	AVTR – AVANTOR INC	Reduce 86.00%	−2,652,660	−1.41
≡	DIS – DISNEY WALT CO	Sell	−264,566	−1.34
≡	DOLE – DOLE PLC	Reduce 100.00%	−1,927,524	−1.29
≡	SAM – BOSTON BEER INC	Reduce 100.00%	−147,589	−1.28
≡	ALX – ALEXANDERS INC	Reduce 100.00%	−122,364	−1.19
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 100.00%	−668,962	−1.18
≡	CNH – CNH INDL N V	Reduce 88.00%	−2,900,140	−1.14
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 100.00%	−3,688,423	−1.07
≡	CLW – CLEARWATER PAPER CORP	Reduce 100.00%	−1,376,179	−1.07
≡	LPX – LOUISIANA PAC CORP	Sell	−231,095	−0.83
≡	WTM – WHITE MTNS INS GROUP LTD	Reduce 42.00%	−11,013	−0.78
≡	REGN – REGENERON PHARMACEUTICALS	Reduce 23.00%	−31,792	−0.71
≡	MGM – MGM RESORTS INTERNATIONAL	Reduce 96.00%	−305,332	−0.49
≡	CNX – CNX RES CORP	Reduce 16.00%	−656,911	−0.16
≡	SN – SHARKNINJA INC	Reduce 13.00%	−38,600	−0.14
≡	SAM – BOSTON BEER INC	Reduce 20.00%	−29,550	0.06
≡	MGM – MGM RESORTS INTERNATIONAL	Reduce 19.00%	−61,167	−0.05
≡	MICC – MAGNUM ICE CREAM CO NV	Reduce 11.00%	−93,158	−0.04
≡	ALX – ALEXANDERS INC	Reduce 19.00%	−23,655	−0.04
≡	OMI – OWENS & MINOR INC NEW	Sell	−181,735	−0.02
≡	XPO – XPO INC	Reduce 51.00%	−6,676	−0.02
≡	CAH – CARDINAL HEALTH INC	Reduce 15.00%	−1,312	−0.00
Q4 2025filed Feb 13, 266 new32 added45 reduced
≡	CNX – CNX RES CORP	Reduce 87.00%	−3,589,634	−5.89
≡	RYN – RAYONIER INC	Reduce 85.00%	−3,356,708	−4.78
≡	PCH – POTLATCHDELTIC CORPORATION	Reduce 82.00%	−1,537,598	−3.30
≡	ACI – ALBERTSONS COS INC	Reduce 79.00%	−3,204,067	−2.98
≡	IAC – IAC INC	Reduce 71.00%	−1,608,280	−2.80
≡	AVTR – AVANTOR INC	Reduce 89.00%	−3,767,982	−2.46
≡	REGN – REGENERON PHARMACEUTICALS	Reduce 77.00%	−90,127	−2.43
≡	TRIP – TRIPADVISOR INC	Reduce 100.00%	−2,337,019	−1.94
≡	FBIN – FORTUNE BRANDS INNOVATIONS I	Reduce 78.00%	−643,236	−1.85
≡	WTM – WHITE MTNS INS GROUP LTD	Reduce 79.00%	−20,840	−1.74
≡	SHEN – SHENANDOAH TELECOMMUNICATION	Reduce 100.00%	−2,439,906	−1.67
≡	CNH – CNH INDL N V	Reduce 88.00%	−2,900,140	−1.66
≡	GLIBA – GCI LIBERTY INC	Reduce 100.00%	−860,089	−1.64
≡	ALX – ALEXANDERS INC	Reduce 100.00%	−122,320	−1.46
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 100.00%	−668,962	−1.42
≡	DOLE – DOLE PLC	Reduce 100.00%	−1,927,524	−1.32
≡	SN – SHARKNINJA INC	Reduce 43.00%	−218,152	−1.23
≡	SAM – BOSTON BEER INC	Reduce 100.00%	−108,835	−1.17
≡	AVTR – AVANTOR INC	Reduce 27.00%	−1,143,628	−1.12
≡	DIS – DISNEY WALT CO	Reduce 77.00%	−180,642	−1.10
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 100.00%	−2,620,296	−1.03
≡	CLW – CLEARWATER PAPER CORP	Reduce 100.00%	−934,354	−0.99
≡	HTHT – H WORLD GROUP LTD	Reduce 61.00%	−356,629	−0.69
≡	PVH – PVH CORPORATION	Reduce 48.00%	−80,001	−0.45
≡	MLCO – MELCO RESORTS AND ENTMNT LTD	Reduce 11.00%	−213,165	−0.34
≡	HDB – HDFC BANK LTD	Reduce 79.00%	−39,412	−0.07
≡	PYPL – PAYPAL HLDGS INC	Reduce 18.00%	−5,082	−0.04
≡	LYV – LIVE NATION ENTERTAINMENT IN	Reduce 19.00%	−1,946	−0.03
≡	OMI – OWENS & MINOR INC NEW	Reduce 19.00%	−41,925	−0.03
≡	ENOV – ENOVIS CORPORATION	Reduce 19.00%	−10,203	−0.03
≡	GHC – GRAHAM HLDGS CO	Reduce 18.00%	−262	−0.03
≡	XPO – XPO INC	Reduce 19.00%	−2,968	−0.03
≡	LAZ – LAZARD INC	Reduce 19.00%	−4,255	−0.02
≡	FIS – FIDELITY NATL INFORMATION SV	Reduce 19.00%	−3,960	−0.02
≡	RXO – RXO INC	Reduce 19.00%	−10,247	−0.02
≡	KHC – KRAFT HEINZ CO	Reduce 19.00%	−6,209	−0.01
≡	HSIC – HENRY SCHEIN INC	Reduce 19.00%	−3,924	−0.01
≡	H – HYATT HOTELS CORP	Reduce 19.00%	−1,775	−0.01
≡	AMG – AFFILIATED MANAGERS GROUP IN	Reduce 19.00%	−1,276	−0.01
≡	BIO – BIO RAD LABS INC	Reduce 19.00%	−560	−0.01
≡	MSGS – MADISON SQUARE GRDN SPRT COR	Reduce 20.00%	−810	−0.01
≡	FDX – FEDEX CORP	Reduce 19.00%	−1,030	−0.01
≡	MGM – MGM RESORTS INTERNATIONAL	Reduce 19.00%	−3,176	−0.01
≡	CAH – CARDINAL HEALTH INC	Reduce 19.00%	−1,995	−0.01
≡	MAT – MATTEL INC	Reduce 20.00%	−6,652	−0.01
Q3 2025filed Nov 14, 2516 added22 reduced
≡	CNX – CNX RES CORP	Reduce 85.00%	−3,511,269	−5.76
≡	RYN – RAYONIER INC	Reduce 86.00%	−3,391,731	−4.59
≡	PCH – POTLATCHDELTIC CORPORATION	Reduce 86.00%	−1,613,216	−3.36
≡	IAC – IAC INC	Reduce 77.00%	−1,749,809	−3.04
≡	ACI – ALBERTSONS COS INC	Reduce 79.00%	−3,204,067	−2.86
≡	REGN – REGENERON PHARMACEUTICALS	Reduce 77.00%	−90,027	−2.58
≡	PVH – PVH CORPORATION	Reduce 78.00%	−602,706	−2.58
≡	AVTR – AVANTOR INC	Reduce 78.00%	−3,310,708	−2.11
≡	TRIP – TRIPADVISOR INC	Reduce 100.00%	−2,337,504	−1.94
≡	WTM – WHITE MTNS INS GROUP LTD	Reduce 79.00%	−20,840	−1.78
≡	FBIN – FORTUNE BRANDS INNOVATIONS I	Reduce 78.00%	−643,236	−1.75
≡	SHEN – SHENANDOAH TELECOMMUNICATION	Reduce 100.00%	−2,440,310	−1.67
≡	GLIBA – GCI LIBERTY INC	Reduce 100.00%	−860,735	−1.64
≡	CNH – CNH INDL N V	Reduce 88.00%	−2,900,140	−1.61
≡	ALX – ALEXANDERS INC	Reduce 100.00%	−122,320	−1.46
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 100.00%	−668,962	−1.42
≡	DOLE – DOLE PLC	Reduce 100.00%	−1,927,524	−1.32
≡	SAM – BOSTON BEER INC	Reduce 100.00%	−108,886	−1.18
≡	DIS – DISNEY WALT CO	Reduce 77.00%	−180,642	−1.06
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 100.00%	−2,621,754	−1.03
≡	CLW – CLEARWATER PAPER CORP	Reduce 100.00%	−934,977	−0.99
≡	HTHT – H WORLD GROUP LTD	Reduce 51.00%	−299,140	−0.60
Q3 2025filed Nov 14, 259 new28 added23 reduced6 exited
≡	CNX – CNX RES CORP	Reduce 84.00%	−3,220,892	−5.51
≡	IAC – IAC INC	Reduce 78.00%	−1,845,089	−3.55
≡	PVH – PVH CORPORATION	Reduce 85.00%	−948,622	−3.14
≡	DINO – HF SINCLAIR CORP	Sell	−1,432,177	−2.97
≡	REGN – REGENERON PHARMACEUTICALS	Reduce 79.00%	−103,434	−2.68
≡	CNH – CNH INDL N V	Reduce 88.00%	−2,900,140	−1.94
≡	DOLE – DOLE PLC	Reduce 100.00%	−2,442,183	−1.72
≡	TRIP – TRIPADVISOR INC	Reduce 100.00%	−2,583,078	−1.70
≡	FBIN – FORTUNE BRANDS INNOVATIONS I	Reduce 78.00%	−643,236	−1.65
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 100.00%	−668,962	−1.58
≡	TIGO – MILLICOM INTL CELLULAR S A	Sell	−834,429	−1.58
≡	SHEN – SHENANDOAH TELECOMMUNICATION	Reduce 100.00%	−2,280,368	−1.57
≡	ANGI – ANGI INC	Sell	−1,806,694	−1.39
≡	WTM – WHITE MTNS INS GROUP LTD	Reduce 73.00%	−14,732	−1.36
≡	CLW – CLEARWATER PAPER CORP	Reduce 100.00%	−934,977	−1.28
≡	DIS – DISNEY WALT CO	Reduce 77.00%	−180,642	−1.15
≡	PCH – POTLATCHDELTIC CORPORATION	Reduce 69.00%	−577,014	−1.08
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 100.00%	−2,621,754	−1.07
≡	SAM – BOSTON BEER INC	Reduce 100.00%	−106,028	−1.02
≡	OSCR – OSCAR HEALTH INC	Sell	−880,452	−0.95
≡	PK – PARK HOTELS & RESORTS INC	Sell	−1,335,745	−0.69
≡	PVH – PVH CORPORATION	Reduce 31.00%	−345,916	−0.57
≡	MLCO – MELCO RESORTS AND ENTMNT LTD	Reduce 51.00%	−2,068,308	−0.55
≡	HWLDF – H WORLD GROUP LTD	Reduce 51.00%	−299,140	−0.43
≡	DOLE – DOLE PLC	Reduce 21.00%	−514,659	−0.40
≡	TRIP – TRIPADVISOR INC	Reduce 9.00%	−245,574	0.24
≡	REGN – REGENERON PHARMACEUTICALS	Reduce 10.00%	−13,407	−0.09
≡	LYV – LIVE NATION ENTERTAINMENT IN	Reduce 26.00%	−3,706	−0.02
≡	WEST – WESTROCK COFFEE CO	Sell	−58,650	−0.02
Q2 2025filed Aug 14, 2543 exited
≡	CNX – CNX RES CORP	Sell	−4,062,036	−6.82
≡	IAC – IAC INC	Sell	−1,954,117	−4.78
≡	ACI – ALBERTSONS COS INC	Sell	−4,059,129	−4.76
≡	DINO – HF SINCLAIR CORP	Sell	−2,143,958	−3.76
≡	KHC – KRAFT HEINZ CO	Sell	−1,996,150	−3.24
≡	REGN – REGENERON PHARMACEUTICALS	Sell	−92,393	−3.12
≡	TIGO – MILLICOM INTL CELLULAR S A	Sell	−1,653,392	−2.67
≡	SN – SHARKNINJA INC	Sell	−545,403	−2.42
≡	CNH – CNH INDL N V	Sell	−3,308,474	−2.17
≡	PCH – POTLATCHDELTIC CORPORATION	Sell	−810,093	−1.95
≡	WTM – WHITE MTNS INS GROUP LTD	Sell	−17,688	−1.82
≡	BATRA – ATLANTA BRAVES HLDGS INC	Sell	−849,991	−1.81
≡	DOLE – DOLE PLC	Sell	−2,349,513	−1.81
≡	PVH – PVH CORPORATION	Sell	−518,769	−1.79
≡	OSCR – OSCAR HEALTH INC	Sell	−2,093,518	−1.46
≡	SAM – BOSTON BEER INC	Sell	−106,204	−1.35
≡	PK – PARK HOTELS & RESORTS INC	Sell	−2,308,391	−1.31
≡	TRIP – TRIPADVISOR INC	Sell	−1,725,545	−1.30
≡	HWLDF – H WORLD GROUP LTD	Sell	−588,001	−1.16
≡	HHH – HOWARD HUGHES HOLDINGS INC	Sell	−217,064	−0.86
≡	MLCO – MELCO RESORTS AND ENTMNT LTD	Sell	−2,673,095	−0.75
≡	ESRT – EMPIRE ST RLTY TR INC	Sell	−1,554,665	−0.65
≡	SHEN – SHENANDOAH TELECOMMUNICATION	Sell	−908,441	−0.61
≡	HDB – HDFC BANK LTD	Sell	−46,922	−0.17
≡	CAH – CARDINAL HEALTH INC	Sell	−17,581	−0.13
≡	LYV – LIVE NATION ENTERTAINMENT IN	Sell	−14,086	−0.10
≡	PYPL – PAYPAL HLDGS INC	Sell	−27,545	−0.10
≡	XPO – XPO INC	Sell	−15,980	−0.09
≡	FIS – FIDELITY NATL INFORMATION SV	Sell	−21,166	−0.08
≡	GHC – GRAHAM HLDGS CO	Sell	−1,491	−0.08
≡	ENOV – ENOVIS CORPORATION	Sell	−36,583	−0.07
≡	FDX – FEDEX CORP	Sell	−5,481	−0.07
≡	H – HYATT HOTELS CORP	Sell	−9,508	−0.06
≡	AMG – AFFILIATED MANAGERS GROUP IN	Sell	−6,838	−0.06
≡	HSIC – HENRY SCHEIN INC	Sell	−15,600	−0.06
≡	RXO – RXO INC	Sell	−53,978	−0.05
≡	GOOG – ALPHABET INC	Sell	−6,527	−0.05
≡	LAZ – LAZARD INC	Sell	−22,863	−0.05
≡	MSGS – MADISON SQUARE GRDN SPRT COR	Sell	−4,028	−0.04
≡	WEST – WESTROCK COFFEE CO	Sell	−106,242	−0.04
≡	BIO – BIO RAD LABS INC	Sell	−2,976	−0.04
≡	MAT – MATTEL INC	Sell	−33,320	−0.03
≡	MGM – MGM RESORTS INTERNATIONAL	Sell	−17,073	−0.03
Q4 2024filed Feb 14, 2544 exited
≡	CNX – CNX RES CORP	Sell	−3,546,757	−6.14
≡	FIS – FIDELITY NATL INFORMATION SV	Sell	−1,074,320	−4.10
≡	IAC – IAC INC	Sell	−1,987,304	−4.05
≡	ACI – ALBERTSONS COS INC	Sell	−4,234,505	−3.93
≡	DINO – HF SINCLAIR CORP	Sell	−2,014,880	−3.33
≡	KHC – KRAFT HEINZ CO	Sell	−2,046,700	−2.97
≡	RTX – RTX CORPORATION	Sell	−450,782	−2.46
≡	PVH – PVH CORPORATION	Sell	−437,447	−2.18
≡	CNH – CNH INDL N V	Sell	−3,871,492	−2.07
≡	SN – SHARKNINJA INC	Sell	−438,392	−2.02
≡	OSCR – OSCAR HEALTH INC	Sell	−3,126,349	−1.98
≡	TIGO – MILLICOM INTL CELLULAR S A	Sell	−1,658,811	−1.96
≡	PCH – POTLATCHDELTIC CORPORATION	Sell	−987,727	−1.83
≡	WTM – WHITE MTNS INS GROUP LTD	Sell	−17,921	−1.65
≡	BATRA – ATLANTA BRAVES HLDGS INC	Sell	−849,991	−1.54
≡	PK – PARK HOTELS & RESORTS INC	Sell	−2,308,391	−1.53
≡	SAM – BOSTON BEER INC	Sell	−106,204	−1.50
≡	DOLE – DOLE PLC	Sell	−2,349,513	−1.50
≡	HWLDF – H WORLD GROUP LTD	Sell	−588,001	−0.92
≡	HHH – HOWARD HUGHES HOLDINGS INC	Sell	−217,064	−0.79
≡	ESRT – EMPIRE ST RLTY TR INC	Sell	−1,554,665	−0.76
≡	MLCO – MELCO RESORTS AND ENTMNT LTD	Sell	−2,673,095	−0.73
≡	FWONA – LIBERTY MEDIA CORP DEL	Sell	−159,077	−0.51
≡	HDB – HDFC BANK LTD	Sell	−63,489	−0.19
≡	FWONA – LIBERTY MEDIA CORP DEL	Sell	−55,176	−0.17
≡	PYPL – PAYPAL HLDGS INC	Sell	−27,545	−0.11
≡	XPO – XPO INC	Sell	−15,980	−0.10
≡	CAH – CARDINAL HEALTH INC	Sell	−17,581	−0.10
≡	LYV – LIVE NATION ENTERTAINMENT IN	Sell	−14,086	−0.09
≡	ENOV – ENOVIS CORPORATION	Sell	−36,583	−0.08
≡	FDX – FEDEX CORP	Sell	−5,481	−0.07
≡	H – HYATT HOTELS CORP	Sell	−9,508	−0.07
≡	GHC – GRAHAM HLDGS CO	Sell	−1,491	−0.06
≡	RXO – RXO INC	Sell	−53,978	−0.06
≡	AMG – AFFILIATED MANAGERS GROUP IN	Sell	−6,838	−0.06
≡	GOOG – ALPHABET INC	Sell	−6,527	−0.06
≡	LAZ – LAZARD INC	Sell	−22,863	−0.06
≡	HSIC – HENRY SCHEIN INC	Sell	−15,600	−0.05
≡	BIO – BIO RAD LABS INC	Sell	−2,976	−0.05
≡	MSGS – MADISON SQUARE GRDN SPRT COR	Sell	−4,028	−0.04
≡	WEST – WESTROCK COFFEE CO	Sell	−106,242	−0.03
≡	MGM – MGM RESORTS INTERNATIONAL	Sell	−17,073	−0.03
≡	MAT – MATTEL INC	Sell	−33,320	−0.03
≡	04M.MU – ANYWHERE REAL ESTATE INC	Sell	−42,418	−0.01
Q4 2024filed Feb 14, 256 new26 added29 reduced4 exited
≡	CNX – CNX RES CORP	Reduce 80.00%	−3,800,191	−5.65
≡	IAC – IAC INC	Reduce 52.00%	−830,109	−2.49
≡	WMG – WARNER MUSIC GROUP CORP	Sell	−1,544,530	−2.28
≡	RTX – RTX CORPORATION	Reduce 84.00%	−376,571	−2.17
≡	PCH – POTLATCHDELTIC CORPORATION	Reduce 100.00%	−986,288	−2.10
≡	OSCR – OSCAR HEALTH INC	Reduce 100.00%	−2,049,977	−2.05
≡	WBD – WARNER BROS DISCOVERY INC	Sell	−4,700,848	−1.83
≡	PVH – PVH CORPORATION	Reduce 83.00%	−364,877	−1.72
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 100.00%	−848,965	−1.59
≡	PK – PARK HOTELS & RESORTS INC	Reduce 100.00%	−2,375,725	−1.58
≡	SAM – BOSTON BEER INC	Reduce 100.00%	−106,091	−1.45
≡	DOLE – DOLE PLC	Reduce 100.00%	−1,767,784	−1.36
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 100.00%	−551,198	−1.33
≡	HHH – HOWARD HUGHES HOLDINGS INC	Reduce 100.00%	−319,087	−1.17
≡	CNX – CNX RES CORP	Reduce 25.00%	−1,193,821	−1.14
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 100.00%	−1,871,275	−0.98
≡	SN – SHARKNINJA INC	Reduce 25.00%	−143,016	−0.97
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 71.00%	−392,363	−0.82
≡	HWLDF – H WORLD GROUP LTD	Reduce 49.00%	−333,412	−0.65
≡	CNH – CNH INDL N V	Reduce 77.00%	−2,994,762	0.47
≡	MLCO – MELCO RESORTS AND ENTMNT LTD	Reduce 17.00%	−518,642	−0.43
≡	MLCO – MELCO RESORTS AND ENTMNT LTD	Reduce 12.00%	−380,638	−0.39
≡	HHH – HOWARD HUGHES HOLDINGS INC	Reduce 32.00%	−102,354	−0.38
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 100.00%	−119,623	−0.28
≡	HWLDF – H WORLD GROUP LTD	Reduce 13.00%	−89,331	−0.27
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 17.00%	−318,963	−0.22
≡	WTM – WHITE MTNS INS GROUP LTD	Reduce 93.00%	−17,610	0.12
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 54.00%	−64,530	−0.11
≡	HDB – HDFC BANK LTD	Reduce 35.00%	−33,630	−0.10
≡	SEG – SEAPORT ENTMT GROUP INC	Sell	−35,490	−0.05
≡	WEST – WESTROCK COFFEE CO	Reduce 94.00%	−100,300	−0.03
≡	04M.MU – ANYWHERE REAL ESTATE INC	Reduce 88.00%	−37,406	−0.01
≡	SEG – SEAPORT ENTERTAINMENT GRP	Sell	−20	0.00
Q3 2024filed Nov 14, 247 new3 added56 reduced5 exited
≡	MAT – MATTEL INC	Reduce 100.00%	−6,765,855	−4.79
≡	FDX – FEDEX CORP	Reduce 98.00%	−352,827	−4.61
≡	AMG – AFFILIATED MANAGERS GROUP IN	Reduce 99.00%	−574,659	−3.90
≡	CNX – CNX RES CORP	Reduce 74.00%	−4,177,456	−3.74
≡	MAT – MATTEL INC	Reduce 80.00%	−5,466,202	−3.62
≡	K – Kellanova	Sell	−1,425,295	−3.58
≡	FIS – FIDELITY NATL INFORMATION SV	Reduce 98.00%	−1,068,556	−3.49
≡	MGM – MGM RESORTS INTERNATIONAL	Reduce 99.00%	−1,665,664	−3.23
≡	FDX – FEDEX CORP	Reduce 64.00%	−229,065	−3.01
≡	BIO – BIO RAD LABS INC	Reduce 99.00%	−230,148	−2.73
≡	CNH – CNH INDL N V	Reduce 82.00%	−4,915,513	−2.63
≡	CNH – CNH INDL N V	Reduce 35.00%	−2,098,432	−2.63
≡	LYV – LIVE NATION ENTERTAINMENT IN	Reduce 98.00%	−613,300	−2.49
≡	H – HYATT HOTELS CORP	Reduce 97.00%	−363,487	−2.40
≡	MGM – MGM RESORTS INTERNATIONAL	Reduce 69.00%	−1,166,108	−2.31
≡	AMG – AFFILIATED MANAGERS GROUP IN	Reduce 66.00%	−382,311	−2.29
≡	H – HYATT HOTELS CORP	Reduce 89.00%	−330,408	−2.16
≡	GHC – GRAHAM HLDGS CO	Reduce 98.00%	−65,888	−2.00
≡	FIS – FIDELITY NATL INFORMATION SV	Reduce 63.00%	−687,404	−1.99
≡	IAC – IAC INC	Reduce 61.00%	−1,062,201	−1.83
≡	WMG – WARNER MUSIC GROUP CORP	Reduce 83.00%	−1,396,648	−1.83
≡	WBD – WARNER BROS DISCOVERY INC	Reduce 74.00%	−5,726,475	−1.73
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 100.00%	−981,210	−1.69
≡	OSCR – OSCAR HEALTH INC	Reduce 100.00%	−2,395,226	−1.65
≡	PYPL – PAYPAL HLDGS INC	Reduce 96.00%	−658,629	−1.63
≡	PVH – PVH CORPORATION	Reduce 81.00%	−352,450	−1.61
≡	PK – PARK HOTELS & RESORTS INC	Reduce 100.00%	−2,422,834	−1.58
≡	WTM – WHITE MOUNTAINS	Reduce 91.00%	−17,813	−1.55
≡	GHC – GRAHAM HLDGS CO	Reduce 80.00%	−53,953	−1.53
≡	PCH – POTLATCHDELTIC CORPORATION	Reduce 100.00%	−869,658	−1.49
≡	RTX – RTX CORPORATION	Reduce 80.00%	−362,787	−1.47
≡	BIO – BIO RAD LABS INC	Reduce 63.00%	−147,406	−1.42
≡	SAM – BOSTON BEER INC	Reduce 100.00%	−106,091	−1.41
≡	CNX – CNX RES CORP	Reduce 15.00%	−868,302	1.34
≡	IMKTA – Ingles Markets Incorporated -	Sell	−440,184	−1.32
≡	LYV – LIVE NATION ENTERTAINMENT IN	Reduce 60.00%	−375,749	−1.26
≡	PYPL – PAYPAL HLDGS INC	Reduce 81.00%	−556,995	−1.26
≡	FISV – Fiserv Inc	Sell	−178,443	−1.16
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 100.00%	−2,710,434	−1.11
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 100.00%	−550,740	−0.92
≡	HHH – HOWARD HUGHES HOLDINGS INC	Reduce 100.00%	−319,023	−0.90
≡	DOLE – DOLE PLC	Reduce 100.00%	−1,623,339	−0.87
≡	04M.MU – ANYWHERE REAL ESTATE INC	Reduce 100.00%	−5,705,056	−0.82
≡	04M.MU – ANYWHERE REAL ESTATE INC	Reduce 99.00%	−5,667,650	−0.81
≡	FDX – FEDEX CORP	Reduce 13.00%	−48,170	−0.68
≡	WBD – WARNER BROS DISCOVERY INC	Reduce 39.00%	−2,996,133	−0.67
≡	IAC – IAC INC	Reduce 8.00%	−141,038	0.51
≡	OSCR – OSCAR HEALTH INC	Reduce 14.00%	−343,527	0.40
≡	AMG – AFFILIATED MANAGERS GROUP IN	Reduce 11.00%	−62,692	0.39
≡	HWLDF – H WORLD GROUP LTD	Reduce 43.00%	−294,137	−0.31
≡	IBTA – Ibotta Inc	Sell	−70,000	−0.23
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 100.00%	−119,525	−0.20
≡	GHC – GRAHAM HLDGS CO	Reduce 14.00%	−9,490	0.19
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 31.00%	−839,266	−0.13
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 13.00%	−132,245	−0.09
≡	HDB – HDFC BANK LTD	Reduce 21.00%	−25,956	−0.06
≡	GEHC – GE Healthcare Holding LLC	Sell	−15,627	−0.05
≡	WEST – WESTROCK COFFEE CO	Reduce 94.00%	−100,300	−0.05
≡	WMG – WARNER MUSIC GROUP CORP	Reduce 8.00%	−133,467	0.04
≡	H – HYATT HOTELS CORP	Reduce 6.00%	−23,648	0.04
≡	04M.MU – ANYWHERE REAL ESTATE INC	Reduce 40.00%	−2,266,575	0.00
Q2 2024filed Aug 14, 249 new17 added47 reduced2 exited
≡	MAT – Mattel, Inc.	Reduce 100.00%	−6,765,855	−5.15
≡	CNX – CNX Resources Corp	Reduce 76.00%	−5,191,488	−4.50
≡	MAT – Mattel, Inc.	Reduce 80.00%	−5,423,162	−4.20
≡	FDX – FedEx Corporation	Reduce 98.00%	−352,827	−3.92
≡	AMG – Affiliated Managers Group Inc.	Reduce 99.00%	−574,659	−3.70
≡	LYV – Live Nation Entertainment Inc	Reduce 98.00%	−780,521	−3.17
≡	BIO – Bio-Rad Laboratories Inc	Reduce 99.00%	−230,148	−3.06
≡	FIS – Fidelity National Information	Reduce 98.00%	−1,068,556	−3.04
≡	MGM – MGM Resorts International	Reduce 99.00%	−1,385,437	−2.51
≡	CNH – CNH Industrial NV - U.S.	Reduce 82.00%	−4,913,030	−2.51
≡	AMG – Affiliated Managers Group Inc.	Reduce 64.00%	−374,583	−2.33
≡	H – Hyatt Hotels Corp. - Class A	Reduce 97.00%	−363,487	−2.22
≡	LYV – Live Nation Entertainment Inc	Reduce 67.00%	−533,616	−2.16
≡	IAC – IAC Inc	Reduce 60.00%	−1,036,884	−2.13
≡	FDX – FedEx Corporation	Reduce 59.00%	−211,864	−2.08
≡	BIO – Bio-Rad Laboratories Inc	Reduce 62.00%	−144,211	−2.04
≡	H – Hyatt Hotels Corp. - Class A	Reduce 89.00%	−330,308	−2.00
≡	RTX – RTX Corporation	Reduce 86.00%	−547,410	−2.00
≡	GHC – Graham Holdings Company	Reduce 98.00%	−65,888	−1.94
≡	K – Kellanova	Reduce 62.00%	−881,521	−1.77
≡	OSCR – Oscar Health Inc	Reduce 100.00%	−3,064,895	−1.75
≡	FIS – Fidelity National Information	Reduce 62.00%	−673,090	−1.74
≡	PYPL – PayPal Holdings Inc	Reduce 96.00%	−658,629	−1.70
≡	LBRDA – Liberty Broadband Corporation	Sell	−761,905	−1.68
≡	GHC – Graham Holdings Company	Reduce 80.00%	−53,953	−1.58
≡	PCH – PotlatchDeltic Corporation	Reduce 100.00%	−870,073	−1.57
≡	WBD – Warner Bros Discovery Inc	Reduce 59.00%	−4,562,568	−1.57
≡	MGM – MGM Resorts International	Reduce 62.00%	−869,362	−1.51
≡	WMG – Warner Music Group Corp.	Reduce 71.00%	−1,187,426	−1.47
≡	BATRA – Atlanta Braves Holdings Inc Cl	Reduce 100.00%	−981,210	−1.47
≡	PYPL – PayPal Holdings Inc	Reduce 81.00%	−557,430	−1.44
≡	WTM – White Mountains Insurance Grou	Reduce 92.00%	−21,138	−1.44
≡	04M.MU – Anywhere Real Estate Inc	Reduce 100.00%	−5,704,520	−1.36
≡	04M.MU – Anywhere Real Estate Inc	Reduce 99.00%	−5,667,650	−1.35
≡	IMKTA – Ingles Markets Incorporated -	Reduce 100.00%	−439,720	−1.30
≡	SAM – Boston Beer Company Inc.	Reduce 100.00%	−106,091	−1.24
≡	ESRT – Empire State Realty Trust Inc.	Reduce 100.00%	−3,061,225	−1.19
≡	PVH – PVH Corp	Reduce 66.00%	−163,098	−0.95
≡	FISV – Fiserv Inc	Reduce 81.00%	−144,969	−0.88
≡	DEI – Douglas Emmett Inc	Sell	−1,329,830	−0.71
≡	LYV – Live Nation Entertainment Inc	Reduce 21.00%	−167,221	−0.67
≡	RTX – RTX Corporation	Reduce 29.00%	−184,830	−0.41
≡	CNX – CNX Resources Corp	Reduce 17.00%	−1,177,970	−0.25
≡	HTHT – H World Group Limited ADR	Reduce 26.00%	−148,355	−0.24
≡	SN – SharkNinja Inc	Reduce 17.00%	−125,889	0.22
≡	OSCR – Oscar Health Inc	Reduce 22.00%	−669,609	−0.10
≡	ESRT – Empire State Realty Trust Inc.	Reduce 11.00%	−351,650	−0.08
≡	WEST – Westrock Coffee Company	Reduce 93.00%	−80,151	−0.03
≡	WTM – White Mountains Insurance Grou	Reduce 14.00%	−3,325	−0.03

Hist	Stock	Activity	Share change	% change to portfolio
Q1 2026filed May 15, 2622 added32 reduced4 exited
≡	CNX – CNX RES CORP	Reduce 89.00%	−3,715,996	−5.96
≡	PCH – POTLATCHDELTIC CORPORATION	Sell	−2,828,076	−5.01
≡	IAC – IAC INC	Reduce 81.00%	−2,694,425	−4.55
≡	ACI – ALBERTSONS COS INC	Reduce 99.00%	−5,222,477	−3.99
≡	REGN – REGENERON PHARMACEUTICALS	Reduce 83.00%	−114,750	−3.86
≡	RYN – RAYONIER INC	Reduce 74.00%	−3,790,120	−3.59
≡	ACI – ALBERTSONS COS INC	Reduce 79.00%	−4,178,775	−3.11
≡	GLIBA – GCI LIBERTY INC	Reduce 100.00%	−1,316,862	−2.18
≡	WTM – WHITE MTNS INS GROUP LTD	Reduce 86.00%	−22,615	−2.04
≡	TRIP – TRIPADVISOR INC	Reduce 100.00%	−2,826,992	−1.83
≡	PVH – PVH CORPORATION	Reduce 87.00%	−564,245	−1.65
≡	FBIN – FORTUNE BRANDS INNOVATIONS I	Reduce 66.00%	−658,661	−1.57
≡	SHEN – SHENANDOAH TELECOMMUNICATION	Reduce 100.00%	−2,931,558	−1.51
≡	ACMR – ACM RESH INC	Reduce 53.00%	−897,281	−1.44
≡	AVTR – AVANTOR INC	Reduce 86.00%	−2,652,660	−1.41
≡	DIS – DISNEY WALT CO	Sell	−264,566	−1.34
≡	DOLE – DOLE PLC	Reduce 100.00%	−1,927,524	−1.29
≡	SAM – BOSTON BEER INC	Reduce 100.00%	−147,589	−1.28
≡	ALX – ALEXANDERS INC	Reduce 100.00%	−122,364	−1.19
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 100.00%	−668,962	−1.18
≡	CNH – CNH INDL N V	Reduce 88.00%	−2,900,140	−1.14
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 100.00%	−3,688,423	−1.07
≡	CLW – CLEARWATER PAPER CORP	Reduce 100.00%	−1,376,179	−1.07
≡	LPX – LOUISIANA PAC CORP	Sell	−231,095	−0.83
≡	WTM – WHITE MTNS INS GROUP LTD	Reduce 42.00%	−11,013	−0.78
≡	REGN – REGENERON PHARMACEUTICALS	Reduce 23.00%	−31,792	−0.71
≡	MGM – MGM RESORTS INTERNATIONAL	Reduce 96.00%	−305,332	−0.49
≡	CNX – CNX RES CORP	Reduce 16.00%	−656,911	−0.16
≡	SN – SHARKNINJA INC	Reduce 13.00%	−38,600	−0.14
≡	SAM – BOSTON BEER INC	Reduce 20.00%	−29,550	0.06
≡	MGM – MGM RESORTS INTERNATIONAL	Reduce 19.00%	−61,167	−0.05
≡	MICC – MAGNUM ICE CREAM CO NV	Reduce 11.00%	−93,158	−0.04
≡	ALX – ALEXANDERS INC	Reduce 19.00%	−23,655	−0.04
≡	OMI – OWENS & MINOR INC NEW	Sell	−181,735	−0.02
≡	XPO – XPO INC	Reduce 51.00%	−6,676	−0.02
≡	CAH – CARDINAL HEALTH INC	Reduce 15.00%	−1,312	−0.00
Q4 2025filed Feb 13, 266 new32 added45 reduced
≡	CNX – CNX RES CORP	Reduce 87.00%	−3,589,634	−5.89
≡	RYN – RAYONIER INC	Reduce 85.00%	−3,356,708	−4.78
≡	PCH – POTLATCHDELTIC CORPORATION	Reduce 82.00%	−1,537,598	−3.30
≡	ACI – ALBERTSONS COS INC	Reduce 79.00%	−3,204,067	−2.98
≡	IAC – IAC INC	Reduce 71.00%	−1,608,280	−2.80
≡	AVTR – AVANTOR INC	Reduce 89.00%	−3,767,982	−2.46
≡	REGN – REGENERON PHARMACEUTICALS	Reduce 77.00%	−90,127	−2.43
≡	TRIP – TRIPADVISOR INC	Reduce 100.00%	−2,337,019	−1.94
≡	FBIN – FORTUNE BRANDS INNOVATIONS I	Reduce 78.00%	−643,236	−1.85
≡	WTM – WHITE MTNS INS GROUP LTD	Reduce 79.00%	−20,840	−1.74
≡	SHEN – SHENANDOAH TELECOMMUNICATION	Reduce 100.00%	−2,439,906	−1.67
≡	CNH – CNH INDL N V	Reduce 88.00%	−2,900,140	−1.66
≡	GLIBA – GCI LIBERTY INC	Reduce 100.00%	−860,089	−1.64
≡	ALX – ALEXANDERS INC	Reduce 100.00%	−122,320	−1.46
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 100.00%	−668,962	−1.42
≡	DOLE – DOLE PLC	Reduce 100.00%	−1,927,524	−1.32
≡	SN – SHARKNINJA INC	Reduce 43.00%	−218,152	−1.23
≡	SAM – BOSTON BEER INC	Reduce 100.00%	−108,835	−1.17
≡	AVTR – AVANTOR INC	Reduce 27.00%	−1,143,628	−1.12
≡	DIS – DISNEY WALT CO	Reduce 77.00%	−180,642	−1.10
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 100.00%	−2,620,296	−1.03
≡	CLW – CLEARWATER PAPER CORP	Reduce 100.00%	−934,354	−0.99
≡	HTHT – H WORLD GROUP LTD	Reduce 61.00%	−356,629	−0.69
≡	PVH – PVH CORPORATION	Reduce 48.00%	−80,001	−0.45
≡	MLCO – MELCO RESORTS AND ENTMNT LTD	Reduce 11.00%	−213,165	−0.34
≡	HDB – HDFC BANK LTD	Reduce 79.00%	−39,412	−0.07
≡	PYPL – PAYPAL HLDGS INC	Reduce 18.00%	−5,082	−0.04
≡	LYV – LIVE NATION ENTERTAINMENT IN	Reduce 19.00%	−1,946	−0.03
≡	OMI – OWENS & MINOR INC NEW	Reduce 19.00%	−41,925	−0.03
≡	ENOV – ENOVIS CORPORATION	Reduce 19.00%	−10,203	−0.03
≡	GHC – GRAHAM HLDGS CO	Reduce 18.00%	−262	−0.03
≡	XPO – XPO INC	Reduce 19.00%	−2,968	−0.03
≡	LAZ – LAZARD INC	Reduce 19.00%	−4,255	−0.02
≡	FIS – FIDELITY NATL INFORMATION SV	Reduce 19.00%	−3,960	−0.02
≡	RXO – RXO INC	Reduce 19.00%	−10,247	−0.02
≡	KHC – KRAFT HEINZ CO	Reduce 19.00%	−6,209	−0.01
≡	HSIC – HENRY SCHEIN INC	Reduce 19.00%	−3,924	−0.01
≡	H – HYATT HOTELS CORP	Reduce 19.00%	−1,775	−0.01
≡	AMG – AFFILIATED MANAGERS GROUP IN	Reduce 19.00%	−1,276	−0.01
≡	BIO – BIO RAD LABS INC	Reduce 19.00%	−560	−0.01
≡	MSGS – MADISON SQUARE GRDN SPRT COR	Reduce 20.00%	−810	−0.01
≡	FDX – FEDEX CORP	Reduce 19.00%	−1,030	−0.01
≡	MGM – MGM RESORTS INTERNATIONAL	Reduce 19.00%	−3,176	−0.01
≡	CAH – CARDINAL HEALTH INC	Reduce 19.00%	−1,995	−0.01
≡	MAT – MATTEL INC	Reduce 20.00%	−6,652	−0.01
Q3 2025filed Nov 14, 2516 added22 reduced
≡	CNX – CNX RES CORP	Reduce 85.00%	−3,511,269	−5.76
≡	RYN – RAYONIER INC	Reduce 86.00%	−3,391,731	−4.59
≡	PCH – POTLATCHDELTIC CORPORATION	Reduce 86.00%	−1,613,216	−3.36
≡	IAC – IAC INC	Reduce 77.00%	−1,749,809	−3.04
≡	ACI – ALBERTSONS COS INC	Reduce 79.00%	−3,204,067	−2.86
≡	REGN – REGENERON PHARMACEUTICALS	Reduce 77.00%	−90,027	−2.58
≡	PVH – PVH CORPORATION	Reduce 78.00%	−602,706	−2.58
≡	AVTR – AVANTOR INC	Reduce 78.00%	−3,310,708	−2.11
≡	TRIP – TRIPADVISOR INC	Reduce 100.00%	−2,337,504	−1.94
≡	WTM – WHITE MTNS INS GROUP LTD	Reduce 79.00%	−20,840	−1.78
≡	FBIN – FORTUNE BRANDS INNOVATIONS I	Reduce 78.00%	−643,236	−1.75
≡	SHEN – SHENANDOAH TELECOMMUNICATION	Reduce 100.00%	−2,440,310	−1.67
≡	GLIBA – GCI LIBERTY INC	Reduce 100.00%	−860,735	−1.64
≡	CNH – CNH INDL N V	Reduce 88.00%	−2,900,140	−1.61
≡	ALX – ALEXANDERS INC	Reduce 100.00%	−122,320	−1.46
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 100.00%	−668,962	−1.42
≡	DOLE – DOLE PLC	Reduce 100.00%	−1,927,524	−1.32
≡	SAM – BOSTON BEER INC	Reduce 100.00%	−108,886	−1.18
≡	DIS – DISNEY WALT CO	Reduce 77.00%	−180,642	−1.06
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 100.00%	−2,621,754	−1.03
≡	CLW – CLEARWATER PAPER CORP	Reduce 100.00%	−934,977	−0.99
≡	HTHT – H WORLD GROUP LTD	Reduce 51.00%	−299,140	−0.60
Q3 2025filed Nov 14, 259 new28 added23 reduced6 exited
≡	CNX – CNX RES CORP	Reduce 84.00%	−3,220,892	−5.51
≡	IAC – IAC INC	Reduce 78.00%	−1,845,089	−3.55
≡	PVH – PVH CORPORATION	Reduce 85.00%	−948,622	−3.14
≡	DINO – HF SINCLAIR CORP	Sell	−1,432,177	−2.97
≡	REGN – REGENERON PHARMACEUTICALS	Reduce 79.00%	−103,434	−2.68
≡	CNH – CNH INDL N V	Reduce 88.00%	−2,900,140	−1.94
≡	DOLE – DOLE PLC	Reduce 100.00%	−2,442,183	−1.72
≡	TRIP – TRIPADVISOR INC	Reduce 100.00%	−2,583,078	−1.70
≡	FBIN – FORTUNE BRANDS INNOVATIONS I	Reduce 78.00%	−643,236	−1.65
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 100.00%	−668,962	−1.58
≡	TIGO – MILLICOM INTL CELLULAR S A	Sell	−834,429	−1.58
≡	SHEN – SHENANDOAH TELECOMMUNICATION	Reduce 100.00%	−2,280,368	−1.57
≡	ANGI – ANGI INC	Sell	−1,806,694	−1.39
≡	WTM – WHITE MTNS INS GROUP LTD	Reduce 73.00%	−14,732	−1.36
≡	CLW – CLEARWATER PAPER CORP	Reduce 100.00%	−934,977	−1.28
≡	DIS – DISNEY WALT CO	Reduce 77.00%	−180,642	−1.15
≡	PCH – POTLATCHDELTIC CORPORATION	Reduce 69.00%	−577,014	−1.08
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 100.00%	−2,621,754	−1.07
≡	SAM – BOSTON BEER INC	Reduce 100.00%	−106,028	−1.02
≡	OSCR – OSCAR HEALTH INC	Sell	−880,452	−0.95
≡	PK – PARK HOTELS & RESORTS INC	Sell	−1,335,745	−0.69
≡	PVH – PVH CORPORATION	Reduce 31.00%	−345,916	−0.57
≡	MLCO – MELCO RESORTS AND ENTMNT LTD	Reduce 51.00%	−2,068,308	−0.55
≡	HWLDF – H WORLD GROUP LTD	Reduce 51.00%	−299,140	−0.43
≡	DOLE – DOLE PLC	Reduce 21.00%	−514,659	−0.40
≡	TRIP – TRIPADVISOR INC	Reduce 9.00%	−245,574	0.24
≡	REGN – REGENERON PHARMACEUTICALS	Reduce 10.00%	−13,407	−0.09
≡	LYV – LIVE NATION ENTERTAINMENT IN	Reduce 26.00%	−3,706	−0.02
≡	WEST – WESTROCK COFFEE CO	Sell	−58,650	−0.02
Q2 2025filed Aug 14, 2543 exited
≡	CNX – CNX RES CORP	Sell	−4,062,036	−6.82
≡	IAC – IAC INC	Sell	−1,954,117	−4.78
≡	ACI – ALBERTSONS COS INC	Sell	−4,059,129	−4.76
≡	DINO – HF SINCLAIR CORP	Sell	−2,143,958	−3.76
≡	KHC – KRAFT HEINZ CO	Sell	−1,996,150	−3.24
≡	REGN – REGENERON PHARMACEUTICALS	Sell	−92,393	−3.12
≡	TIGO – MILLICOM INTL CELLULAR S A	Sell	−1,653,392	−2.67
≡	SN – SHARKNINJA INC	Sell	−545,403	−2.42
≡	CNH – CNH INDL N V	Sell	−3,308,474	−2.17
≡	PCH – POTLATCHDELTIC CORPORATION	Sell	−810,093	−1.95
≡	WTM – WHITE MTNS INS GROUP LTD	Sell	−17,688	−1.82
≡	BATRA – ATLANTA BRAVES HLDGS INC	Sell	−849,991	−1.81
≡	DOLE – DOLE PLC	Sell	−2,349,513	−1.81
≡	PVH – PVH CORPORATION	Sell	−518,769	−1.79
≡	OSCR – OSCAR HEALTH INC	Sell	−2,093,518	−1.46
≡	SAM – BOSTON BEER INC	Sell	−106,204	−1.35
≡	PK – PARK HOTELS & RESORTS INC	Sell	−2,308,391	−1.31
≡	TRIP – TRIPADVISOR INC	Sell	−1,725,545	−1.30
≡	HWLDF – H WORLD GROUP LTD	Sell	−588,001	−1.16
≡	HHH – HOWARD HUGHES HOLDINGS INC	Sell	−217,064	−0.86
≡	MLCO – MELCO RESORTS AND ENTMNT LTD	Sell	−2,673,095	−0.75
≡	ESRT – EMPIRE ST RLTY TR INC	Sell	−1,554,665	−0.65
≡	SHEN – SHENANDOAH TELECOMMUNICATION	Sell	−908,441	−0.61
≡	HDB – HDFC BANK LTD	Sell	−46,922	−0.17
≡	CAH – CARDINAL HEALTH INC	Sell	−17,581	−0.13
≡	LYV – LIVE NATION ENTERTAINMENT IN	Sell	−14,086	−0.10
≡	PYPL – PAYPAL HLDGS INC	Sell	−27,545	−0.10
≡	XPO – XPO INC	Sell	−15,980	−0.09
≡	FIS – FIDELITY NATL INFORMATION SV	Sell	−21,166	−0.08
≡	GHC – GRAHAM HLDGS CO	Sell	−1,491	−0.08
≡	ENOV – ENOVIS CORPORATION	Sell	−36,583	−0.07
≡	FDX – FEDEX CORP	Sell	−5,481	−0.07
≡	H – HYATT HOTELS CORP	Sell	−9,508	−0.06
≡	AMG – AFFILIATED MANAGERS GROUP IN	Sell	−6,838	−0.06
≡	HSIC – HENRY SCHEIN INC	Sell	−15,600	−0.06
≡	RXO – RXO INC	Sell	−53,978	−0.05
≡	GOOG – ALPHABET INC	Sell	−6,527	−0.05
≡	LAZ – LAZARD INC	Sell	−22,863	−0.05
≡	MSGS – MADISON SQUARE GRDN SPRT COR	Sell	−4,028	−0.04
≡	WEST – WESTROCK COFFEE CO	Sell	−106,242	−0.04
≡	BIO – BIO RAD LABS INC	Sell	−2,976	−0.04
≡	MAT – MATTEL INC	Sell	−33,320	−0.03
≡	MGM – MGM RESORTS INTERNATIONAL	Sell	−17,073	−0.03
Q4 2024filed Feb 14, 2544 exited
≡	CNX – CNX RES CORP	Sell	−3,546,757	−6.14
≡	FIS – FIDELITY NATL INFORMATION SV	Sell	−1,074,320	−4.10
≡	IAC – IAC INC	Sell	−1,987,304	−4.05
≡	ACI – ALBERTSONS COS INC	Sell	−4,234,505	−3.93
≡	DINO – HF SINCLAIR CORP	Sell	−2,014,880	−3.33
≡	KHC – KRAFT HEINZ CO	Sell	−2,046,700	−2.97
≡	RTX – RTX CORPORATION	Sell	−450,782	−2.46
≡	PVH – PVH CORPORATION	Sell	−437,447	−2.18
≡	CNH – CNH INDL N V	Sell	−3,871,492	−2.07
≡	SN – SHARKNINJA INC	Sell	−438,392	−2.02
≡	OSCR – OSCAR HEALTH INC	Sell	−3,126,349	−1.98
≡	TIGO – MILLICOM INTL CELLULAR S A	Sell	−1,658,811	−1.96
≡	PCH – POTLATCHDELTIC CORPORATION	Sell	−987,727	−1.83
≡	WTM – WHITE MTNS INS GROUP LTD	Sell	−17,921	−1.65
≡	BATRA – ATLANTA BRAVES HLDGS INC	Sell	−849,991	−1.54
≡	PK – PARK HOTELS & RESORTS INC	Sell	−2,308,391	−1.53
≡	SAM – BOSTON BEER INC	Sell	−106,204	−1.50
≡	DOLE – DOLE PLC	Sell	−2,349,513	−1.50
≡	HWLDF – H WORLD GROUP LTD	Sell	−588,001	−0.92
≡	HHH – HOWARD HUGHES HOLDINGS INC	Sell	−217,064	−0.79
≡	ESRT – EMPIRE ST RLTY TR INC	Sell	−1,554,665	−0.76
≡	MLCO – MELCO RESORTS AND ENTMNT LTD	Sell	−2,673,095	−0.73
≡	FWONA – LIBERTY MEDIA CORP DEL	Sell	−159,077	−0.51
≡	HDB – HDFC BANK LTD	Sell	−63,489	−0.19
≡	FWONA – LIBERTY MEDIA CORP DEL	Sell	−55,176	−0.17
≡	PYPL – PAYPAL HLDGS INC	Sell	−27,545	−0.11
≡	XPO – XPO INC	Sell	−15,980	−0.10
≡	CAH – CARDINAL HEALTH INC	Sell	−17,581	−0.10
≡	LYV – LIVE NATION ENTERTAINMENT IN	Sell	−14,086	−0.09
≡	ENOV – ENOVIS CORPORATION	Sell	−36,583	−0.08
≡	FDX – FEDEX CORP	Sell	−5,481	−0.07
≡	H – HYATT HOTELS CORP	Sell	−9,508	−0.07
≡	GHC – GRAHAM HLDGS CO	Sell	−1,491	−0.06
≡	RXO – RXO INC	Sell	−53,978	−0.06
≡	AMG – AFFILIATED MANAGERS GROUP IN	Sell	−6,838	−0.06
≡	GOOG – ALPHABET INC	Sell	−6,527	−0.06
≡	LAZ – LAZARD INC	Sell	−22,863	−0.06
≡	HSIC – HENRY SCHEIN INC	Sell	−15,600	−0.05
≡	BIO – BIO RAD LABS INC	Sell	−2,976	−0.05
≡	MSGS – MADISON SQUARE GRDN SPRT COR	Sell	−4,028	−0.04
≡	WEST – WESTROCK COFFEE CO	Sell	−106,242	−0.03
≡	MGM – MGM RESORTS INTERNATIONAL	Sell	−17,073	−0.03
≡	MAT – MATTEL INC	Sell	−33,320	−0.03
≡	04M.MU – ANYWHERE REAL ESTATE INC	Sell	−42,418	−0.01
Q4 2024filed Feb 14, 256 new26 added29 reduced4 exited
≡	CNX – CNX RES CORP	Reduce 80.00%	−3,800,191	−5.65
≡	IAC – IAC INC	Reduce 52.00%	−830,109	−2.49
≡	WMG – WARNER MUSIC GROUP CORP	Sell	−1,544,530	−2.28
≡	RTX – RTX CORPORATION	Reduce 84.00%	−376,571	−2.17
≡	PCH – POTLATCHDELTIC CORPORATION	Reduce 100.00%	−986,288	−2.10
≡	OSCR – OSCAR HEALTH INC	Reduce 100.00%	−2,049,977	−2.05
≡	WBD – WARNER BROS DISCOVERY INC	Sell	−4,700,848	−1.83
≡	PVH – PVH CORPORATION	Reduce 83.00%	−364,877	−1.72
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 100.00%	−848,965	−1.59
≡	PK – PARK HOTELS & RESORTS INC	Reduce 100.00%	−2,375,725	−1.58
≡	SAM – BOSTON BEER INC	Reduce 100.00%	−106,091	−1.45
≡	DOLE – DOLE PLC	Reduce 100.00%	−1,767,784	−1.36
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 100.00%	−551,198	−1.33
≡	HHH – HOWARD HUGHES HOLDINGS INC	Reduce 100.00%	−319,087	−1.17
≡	CNX – CNX RES CORP	Reduce 25.00%	−1,193,821	−1.14
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 100.00%	−1,871,275	−0.98
≡	SN – SHARKNINJA INC	Reduce 25.00%	−143,016	−0.97
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 71.00%	−392,363	−0.82
≡	HWLDF – H WORLD GROUP LTD	Reduce 49.00%	−333,412	−0.65
≡	CNH – CNH INDL N V	Reduce 77.00%	−2,994,762	0.47
≡	MLCO – MELCO RESORTS AND ENTMNT LTD	Reduce 17.00%	−518,642	−0.43
≡	MLCO – MELCO RESORTS AND ENTMNT LTD	Reduce 12.00%	−380,638	−0.39
≡	HHH – HOWARD HUGHES HOLDINGS INC	Reduce 32.00%	−102,354	−0.38
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 100.00%	−119,623	−0.28
≡	HWLDF – H WORLD GROUP LTD	Reduce 13.00%	−89,331	−0.27
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 17.00%	−318,963	−0.22
≡	WTM – WHITE MTNS INS GROUP LTD	Reduce 93.00%	−17,610	0.12
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 54.00%	−64,530	−0.11
≡	HDB – HDFC BANK LTD	Reduce 35.00%	−33,630	−0.10
≡	SEG – SEAPORT ENTMT GROUP INC	Sell	−35,490	−0.05
≡	WEST – WESTROCK COFFEE CO	Reduce 94.00%	−100,300	−0.03
≡	04M.MU – ANYWHERE REAL ESTATE INC	Reduce 88.00%	−37,406	−0.01
≡	SEG – SEAPORT ENTERTAINMENT GRP	Sell	−20	0.00
Q3 2024filed Nov 14, 247 new3 added56 reduced5 exited
≡	MAT – MATTEL INC	Reduce 100.00%	−6,765,855	−4.79
≡	FDX – FEDEX CORP	Reduce 98.00%	−352,827	−4.61
≡	AMG – AFFILIATED MANAGERS GROUP IN	Reduce 99.00%	−574,659	−3.90
≡	CNX – CNX RES CORP	Reduce 74.00%	−4,177,456	−3.74
≡	MAT – MATTEL INC	Reduce 80.00%	−5,466,202	−3.62
≡	K – Kellanova	Sell	−1,425,295	−3.58
≡	FIS – FIDELITY NATL INFORMATION SV	Reduce 98.00%	−1,068,556	−3.49
≡	MGM – MGM RESORTS INTERNATIONAL	Reduce 99.00%	−1,665,664	−3.23
≡	FDX – FEDEX CORP	Reduce 64.00%	−229,065	−3.01
≡	BIO – BIO RAD LABS INC	Reduce 99.00%	−230,148	−2.73
≡	CNH – CNH INDL N V	Reduce 82.00%	−4,915,513	−2.63
≡	CNH – CNH INDL N V	Reduce 35.00%	−2,098,432	−2.63
≡	LYV – LIVE NATION ENTERTAINMENT IN	Reduce 98.00%	−613,300	−2.49
≡	H – HYATT HOTELS CORP	Reduce 97.00%	−363,487	−2.40
≡	MGM – MGM RESORTS INTERNATIONAL	Reduce 69.00%	−1,166,108	−2.31
≡	AMG – AFFILIATED MANAGERS GROUP IN	Reduce 66.00%	−382,311	−2.29
≡	H – HYATT HOTELS CORP	Reduce 89.00%	−330,408	−2.16
≡	GHC – GRAHAM HLDGS CO	Reduce 98.00%	−65,888	−2.00
≡	FIS – FIDELITY NATL INFORMATION SV	Reduce 63.00%	−687,404	−1.99
≡	IAC – IAC INC	Reduce 61.00%	−1,062,201	−1.83
≡	WMG – WARNER MUSIC GROUP CORP	Reduce 83.00%	−1,396,648	−1.83
≡	WBD – WARNER BROS DISCOVERY INC	Reduce 74.00%	−5,726,475	−1.73
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 100.00%	−981,210	−1.69
≡	OSCR – OSCAR HEALTH INC	Reduce 100.00%	−2,395,226	−1.65
≡	PYPL – PAYPAL HLDGS INC	Reduce 96.00%	−658,629	−1.63
≡	PVH – PVH CORPORATION	Reduce 81.00%	−352,450	−1.61
≡	PK – PARK HOTELS & RESORTS INC	Reduce 100.00%	−2,422,834	−1.58
≡	WTM – WHITE MOUNTAINS	Reduce 91.00%	−17,813	−1.55
≡	GHC – GRAHAM HLDGS CO	Reduce 80.00%	−53,953	−1.53
≡	PCH – POTLATCHDELTIC CORPORATION	Reduce 100.00%	−869,658	−1.49
≡	RTX – RTX CORPORATION	Reduce 80.00%	−362,787	−1.47
≡	BIO – BIO RAD LABS INC	Reduce 63.00%	−147,406	−1.42
≡	SAM – BOSTON BEER INC	Reduce 100.00%	−106,091	−1.41
≡	CNX – CNX RES CORP	Reduce 15.00%	−868,302	1.34
≡	IMKTA – Ingles Markets Incorporated -	Sell	−440,184	−1.32
≡	LYV – LIVE NATION ENTERTAINMENT IN	Reduce 60.00%	−375,749	−1.26
≡	PYPL – PAYPAL HLDGS INC	Reduce 81.00%	−556,995	−1.26
≡	FISV – Fiserv Inc	Sell	−178,443	−1.16
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 100.00%	−2,710,434	−1.11
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 100.00%	−550,740	−0.92
≡	HHH – HOWARD HUGHES HOLDINGS INC	Reduce 100.00%	−319,023	−0.90
≡	DOLE – DOLE PLC	Reduce 100.00%	−1,623,339	−0.87
≡	04M.MU – ANYWHERE REAL ESTATE INC	Reduce 100.00%	−5,705,056	−0.82
≡	04M.MU – ANYWHERE REAL ESTATE INC	Reduce 99.00%	−5,667,650	−0.81
≡	FDX – FEDEX CORP	Reduce 13.00%	−48,170	−0.68
≡	WBD – WARNER BROS DISCOVERY INC	Reduce 39.00%	−2,996,133	−0.67
≡	IAC – IAC INC	Reduce 8.00%	−141,038	0.51
≡	OSCR – OSCAR HEALTH INC	Reduce 14.00%	−343,527	0.40
≡	AMG – AFFILIATED MANAGERS GROUP IN	Reduce 11.00%	−62,692	0.39
≡	HWLDF – H WORLD GROUP LTD	Reduce 43.00%	−294,137	−0.31
≡	IBTA – Ibotta Inc	Sell	−70,000	−0.23
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 100.00%	−119,525	−0.20
≡	GHC – GRAHAM HLDGS CO	Reduce 14.00%	−9,490	0.19
≡	ESRT – EMPIRE ST RLTY TR INC	Reduce 31.00%	−839,266	−0.13
≡	BATRA – ATLANTA BRAVES HLDGS INC	Reduce 13.00%	−132,245	−0.09
≡	HDB – HDFC BANK LTD	Reduce 21.00%	−25,956	−0.06
≡	GEHC – GE Healthcare Holding LLC	Sell	−15,627	−0.05
≡	WEST – WESTROCK COFFEE CO	Reduce 94.00%	−100,300	−0.05
≡	WMG – WARNER MUSIC GROUP CORP	Reduce 8.00%	−133,467	0.04
≡	H – HYATT HOTELS CORP	Reduce 6.00%	−23,648	0.04
≡	04M.MU – ANYWHERE REAL ESTATE INC	Reduce 40.00%	−2,266,575	0.00
Q2 2024filed Aug 14, 249 new17 added47 reduced2 exited
≡	MAT – Mattel, Inc.	Reduce 100.00%	−6,765,855	−5.15
≡	CNX – CNX Resources Corp	Reduce 76.00%	−5,191,488	−4.50
≡	MAT – Mattel, Inc.	Reduce 80.00%	−5,423,162	−4.20
≡	FDX – FedEx Corporation	Reduce 98.00%	−352,827	−3.92
≡	AMG – Affiliated Managers Group Inc.	Reduce 99.00%	−574,659	−3.70
≡	LYV – Live Nation Entertainment Inc	Reduce 98.00%	−780,521	−3.17
≡	BIO – Bio-Rad Laboratories Inc	Reduce 99.00%	−230,148	−3.06
≡	FIS – Fidelity National Information	Reduce 98.00%	−1,068,556	−3.04
≡	MGM – MGM Resorts International	Reduce 99.00%	−1,385,437	−2.51
≡	CNH – CNH Industrial NV - U.S.	Reduce 82.00%	−4,913,030	−2.51
≡	AMG – Affiliated Managers Group Inc.	Reduce 64.00%	−374,583	−2.33
≡	H – Hyatt Hotels Corp. - Class A	Reduce 97.00%	−363,487	−2.22
≡	LYV – Live Nation Entertainment Inc	Reduce 67.00%	−533,616	−2.16
≡	IAC – IAC Inc	Reduce 60.00%	−1,036,884	−2.13
≡	FDX – FedEx Corporation	Reduce 59.00%	−211,864	−2.08
≡	BIO – Bio-Rad Laboratories Inc	Reduce 62.00%	−144,211	−2.04
≡	H – Hyatt Hotels Corp. - Class A	Reduce 89.00%	−330,308	−2.00
≡	RTX – RTX Corporation	Reduce 86.00%	−547,410	−2.00
≡	GHC – Graham Holdings Company	Reduce 98.00%	−65,888	−1.94
≡	K – Kellanova	Reduce 62.00%	−881,521	−1.77
≡	OSCR – Oscar Health Inc	Reduce 100.00%	−3,064,895	−1.75
≡	FIS – Fidelity National Information	Reduce 62.00%	−673,090	−1.74
≡	PYPL – PayPal Holdings Inc	Reduce 96.00%	−658,629	−1.70
≡	LBRDA – Liberty Broadband Corporation	Sell	−761,905	−1.68
≡	GHC – Graham Holdings Company	Reduce 80.00%	−53,953	−1.58
≡	PCH – PotlatchDeltic Corporation	Reduce 100.00%	−870,073	−1.57
≡	WBD – Warner Bros Discovery Inc	Reduce 59.00%	−4,562,568	−1.57
≡	MGM – MGM Resorts International	Reduce 62.00%	−869,362	−1.51
≡	WMG – Warner Music Group Corp.	Reduce 71.00%	−1,187,426	−1.47
≡	BATRA – Atlanta Braves Holdings Inc Cl	Reduce 100.00%	−981,210	−1.47
≡	PYPL – PayPal Holdings Inc	Reduce 81.00%	−557,430	−1.44
≡	WTM – White Mountains Insurance Grou	Reduce 92.00%	−21,138	−1.44
≡	04M.MU – Anywhere Real Estate Inc	Reduce 100.00%	−5,704,520	−1.36
≡	04M.MU – Anywhere Real Estate Inc	Reduce 99.00%	−5,667,650	−1.35
≡	IMKTA – Ingles Markets Incorporated -	Reduce 100.00%	−439,720	−1.30
≡	SAM – Boston Beer Company Inc.	Reduce 100.00%	−106,091	−1.24
≡	ESRT – Empire State Realty Trust Inc.	Reduce 100.00%	−3,061,225	−1.19
≡	PVH – PVH Corp	Reduce 66.00%	−163,098	−0.95
≡	FISV – Fiserv Inc	Reduce 81.00%	−144,969	−0.88
≡	DEI – Douglas Emmett Inc	Sell	−1,329,830	−0.71
≡	LYV – Live Nation Entertainment Inc	Reduce 21.00%	−167,221	−0.67
≡	RTX – RTX Corporation	Reduce 29.00%	−184,830	−0.41
≡	CNX – CNX Resources Corp	Reduce 17.00%	−1,177,970	−0.25
≡	HTHT – H World Group Limited ADR	Reduce 26.00%	−148,355	−0.24
≡	SN – SharkNinja Inc	Reduce 17.00%	−125,889	0.22
≡	OSCR – Oscar Health Inc	Reduce 22.00%	−669,609	−0.10
≡	ESRT – Empire State Realty Trust Inc.	Reduce 11.00%	−351,650	−0.08
≡	WEST – Westrock Coffee Company	Reduce 93.00%	−80,151	−0.03
≡	WTM – White Mountains Insurance Grou	Reduce 14.00%	−3,325	−0.03

Hist

Stock

Activity

Share change

% change to portfolio

Q1 2026filed May 15, 2622 added32 reduced4 exited

≡

CNX – CNX RES CORP

Reduce 89.00%

−3,715,996

−5.96

≡

PCH – POTLATCHDELTIC CORPORATION

Sell

−2,828,076

−5.01

≡

IAC – IAC INC

Reduce 81.00%

−2,694,425

−4.55

≡

ACI – ALBERTSONS COS INC

Reduce 99.00%

−5,222,477

−3.99

≡

REGN – REGENERON PHARMACEUTICALS

Reduce 83.00%

−114,750

−3.86

≡

RYN – RAYONIER INC

Reduce 74.00%

−3,790,120

−3.59

≡

ACI – ALBERTSONS COS INC

Reduce 79.00%

−4,178,775

−3.11

≡

GLIBA – GCI LIBERTY INC

Reduce 100.00%

−1,316,862

−2.18

≡

WTM – WHITE MTNS INS GROUP LTD

Reduce 86.00%

−22,615

−2.04

≡

TRIP – TRIPADVISOR INC

Reduce 100.00%

−2,826,992

−1.83

≡

PVH – PVH CORPORATION

Reduce 87.00%

−564,245

−1.65

≡

FBIN – FORTUNE BRANDS INNOVATIONS I

Reduce 66.00%

−658,661

−1.57

≡

SHEN – SHENANDOAH TELECOMMUNICATION

Reduce 100.00%

−2,931,558

−1.51

≡

ACMR – ACM RESH INC

Reduce 53.00%

−897,281

−1.44

≡

AVTR – AVANTOR INC

Reduce 86.00%

−2,652,660

−1.41

≡

DIS – DISNEY WALT CO

Sell

−264,566

−1.34

≡

DOLE – DOLE PLC

Reduce 100.00%

−1,927,524

−1.29

≡

SAM – BOSTON BEER INC

Reduce 100.00%

−147,589

−1.28

≡

ALX – ALEXANDERS INC

Reduce 100.00%

−122,364

−1.19

≡

BATRA – ATLANTA BRAVES HLDGS INC

Reduce 100.00%

−668,962

−1.18

≡

CNH – CNH INDL N V

Reduce 88.00%

−2,900,140

−1.14

≡

ESRT – EMPIRE ST RLTY TR INC

Reduce 100.00%

−3,688,423

−1.07

≡

CLW – CLEARWATER PAPER CORP

Reduce 100.00%

−1,376,179

−1.07

≡

LPX – LOUISIANA PAC CORP

Sell

−231,095

−0.83

≡

WTM – WHITE MTNS INS GROUP LTD

Reduce 42.00%

−11,013

−0.78

≡

REGN – REGENERON PHARMACEUTICALS

Reduce 23.00%

−31,792

−0.71

≡

MGM – MGM RESORTS INTERNATIONAL

Reduce 96.00%

−305,332

−0.49

≡

CNX – CNX RES CORP

Reduce 16.00%

−656,911

−0.16

≡

SN – SHARKNINJA INC

Reduce 13.00%

−38,600

−0.14

≡

SAM – BOSTON BEER INC

Reduce 20.00%

−29,550

0.06

≡

MGM – MGM RESORTS INTERNATIONAL

Reduce 19.00%

−61,167

−0.05

≡

MICC – MAGNUM ICE CREAM CO NV

Reduce 11.00%

−93,158

−0.04

≡

ALX – ALEXANDERS INC

Reduce 19.00%

−23,655

−0.04

≡

OMI – OWENS & MINOR INC NEW

Sell

−181,735

−0.02

≡

XPO – XPO INC

Reduce 51.00%

−6,676

−0.02

≡

CAH – CARDINAL HEALTH INC

Reduce 15.00%

−1,312

−0.00

Q4 2025filed Feb 13, 266 new32 added45 reduced

≡

CNX – CNX RES CORP

Reduce 87.00%

−3,589,634

−5.89

≡

RYN – RAYONIER INC

Reduce 85.00%

−3,356,708

−4.78

≡

PCH – POTLATCHDELTIC CORPORATION

Reduce 82.00%

−1,537,598

−3.30

≡

ACI – ALBERTSONS COS INC

Reduce 79.00%

−3,204,067

−2.98

≡

IAC – IAC INC

Reduce 71.00%

−1,608,280

−2.80

≡

AVTR – AVANTOR INC

Reduce 89.00%

−3,767,982

−2.46

≡

REGN – REGENERON PHARMACEUTICALS

Reduce 77.00%

−90,127

−2.43

≡

TRIP – TRIPADVISOR INC

Reduce 100.00%

−2,337,019

−1.94

≡

FBIN – FORTUNE BRANDS INNOVATIONS I

Reduce 78.00%

−643,236

−1.85

≡

WTM – WHITE MTNS INS GROUP LTD

Reduce 79.00%

−20,840

−1.74

≡

SHEN – SHENANDOAH TELECOMMUNICATION

Reduce 100.00%

−2,439,906

−1.67

≡

CNH – CNH INDL N V

Reduce 88.00%

−2,900,140

−1.66

≡

GLIBA – GCI LIBERTY INC

Reduce 100.00%

−860,089

−1.64

≡

ALX – ALEXANDERS INC

Reduce 100.00%

−122,320

−1.46

≡

BATRA – ATLANTA BRAVES HLDGS INC

Reduce 100.00%

−668,962

−1.42

≡

DOLE – DOLE PLC

Reduce 100.00%

−1,927,524

−1.32

≡

SN – SHARKNINJA INC

Reduce 43.00%

−218,152

−1.23

≡

SAM – BOSTON BEER INC

Reduce 100.00%

−108,835

−1.17

≡

AVTR – AVANTOR INC

Reduce 27.00%

−1,143,628

−1.12

≡

DIS – DISNEY WALT CO

Reduce 77.00%

−180,642

−1.10

≡

ESRT – EMPIRE ST RLTY TR INC

Reduce 100.00%

−2,620,296

−1.03

≡

CLW – CLEARWATER PAPER CORP

Reduce 100.00%

−934,354

−0.99

≡

HTHT – H WORLD GROUP LTD

Reduce 61.00%

−356,629

−0.69

≡

PVH – PVH CORPORATION

Reduce 48.00%

−80,001

−0.45

≡

MLCO – MELCO RESORTS AND ENTMNT LTD

Reduce 11.00%

−213,165

−0.34

≡

HDB – HDFC BANK LTD

Reduce 79.00%

−39,412

−0.07

≡

PYPL – PAYPAL HLDGS INC

Reduce 18.00%

−5,082

−0.04

≡

LYV – LIVE NATION ENTERTAINMENT IN

Reduce 19.00%

−1,946

−0.03

≡

OMI – OWENS & MINOR INC NEW

Reduce 19.00%

−41,925

−0.03

≡

ENOV – ENOVIS CORPORATION

Reduce 19.00%

−10,203

−0.03

≡

GHC – GRAHAM HLDGS CO

Reduce 18.00%

−262

−0.03

≡

XPO – XPO INC

Reduce 19.00%

−2,968

−0.03

≡

LAZ – LAZARD INC

Reduce 19.00%

−4,255

−0.02

≡

FIS – FIDELITY NATL INFORMATION SV

Reduce 19.00%

−3,960

−0.02

≡

RXO – RXO INC

Reduce 19.00%

−10,247

−0.02

≡

KHC – KRAFT HEINZ CO

Reduce 19.00%

−6,209

−0.01

≡

HSIC – HENRY SCHEIN INC

Reduce 19.00%

−3,924

−0.01

≡

H – HYATT HOTELS CORP

Reduce 19.00%

−1,775

−0.01

≡

AMG – AFFILIATED MANAGERS GROUP IN

Reduce 19.00%

−1,276

−0.01

≡

BIO – BIO RAD LABS INC

Reduce 19.00%

−560

−0.01

≡

MSGS – MADISON SQUARE GRDN SPRT COR

Reduce 20.00%

−810

−0.01

≡

FDX – FEDEX CORP

Reduce 19.00%

−1,030

−0.01

≡

MGM – MGM RESORTS INTERNATIONAL

Reduce 19.00%

−3,176

−0.01

≡

CAH – CARDINAL HEALTH INC

Reduce 19.00%

−1,995

−0.01

≡

MAT – MATTEL INC

Reduce 20.00%

−6,652

−0.01

Q3 2025filed Nov 14, 2516 added22 reduced

≡

CNX – CNX RES CORP

Reduce 85.00%

−3,511,269

−5.76

≡

RYN – RAYONIER INC

Reduce 86.00%

−3,391,731

−4.59

≡

PCH – POTLATCHDELTIC CORPORATION

Reduce 86.00%

−1,613,216

−3.36

≡

IAC – IAC INC

Reduce 77.00%

−1,749,809

−3.04

≡

ACI – ALBERTSONS COS INC

Reduce 79.00%

−3,204,067

−2.86

≡

REGN – REGENERON PHARMACEUTICALS

Reduce 77.00%

−90,027

−2.58

≡

PVH – PVH CORPORATION

Reduce 78.00%

−602,706

−2.58

≡

AVTR – AVANTOR INC

Reduce 78.00%

−3,310,708

−2.11

≡

TRIP – TRIPADVISOR INC

Reduce 100.00%

−2,337,504

−1.94

≡

WTM – WHITE MTNS INS GROUP LTD

Reduce 79.00%

−20,840

−1.78

≡

FBIN – FORTUNE BRANDS INNOVATIONS I

Reduce 78.00%

−643,236

−1.75

≡

SHEN – SHENANDOAH TELECOMMUNICATION

Reduce 100.00%

−2,440,310

−1.67

≡

GLIBA – GCI LIBERTY INC

Reduce 100.00%

−860,735

−1.64

≡

CNH – CNH INDL N V

Reduce 88.00%

−2,900,140

−1.61

≡

ALX – ALEXANDERS INC

Reduce 100.00%

−122,320

−1.46

≡

BATRA – ATLANTA BRAVES HLDGS INC

Reduce 100.00%

−668,962

−1.42

≡

DOLE – DOLE PLC

Reduce 100.00%

−1,927,524

−1.32

≡

SAM – BOSTON BEER INC

Reduce 100.00%

−108,886

−1.18

≡

DIS – DISNEY WALT CO

Reduce 77.00%

−180,642

−1.06

≡

ESRT – EMPIRE ST RLTY TR INC

Reduce 100.00%

−2,621,754

−1.03

≡

CLW – CLEARWATER PAPER CORP

Reduce 100.00%

−934,977

−0.99

≡

HTHT – H WORLD GROUP LTD

Reduce 51.00%

−299,140

−0.60

Q3 2025filed Nov 14, 259 new28 added23 reduced6 exited

≡

CNX – CNX RES CORP

Reduce 84.00%

−3,220,892

−5.51

≡

IAC – IAC INC

Reduce 78.00%

−1,845,089

−3.55

≡

PVH – PVH CORPORATION

Reduce 85.00%

−948,622

−3.14

≡

DINO – HF SINCLAIR CORP

Sell

−1,432,177

−2.97

≡

REGN – REGENERON PHARMACEUTICALS

Reduce 79.00%

−103,434

−2.68

≡

CNH – CNH INDL N V

Reduce 88.00%

−2,900,140

−1.94

≡

DOLE – DOLE PLC

Reduce 100.00%

−2,442,183

−1.72

≡

TRIP – TRIPADVISOR INC

Reduce 100.00%

−2,583,078

−1.70

≡

FBIN – FORTUNE BRANDS INNOVATIONS I

Reduce 78.00%

−643,236

−1.65

≡

BATRA – ATLANTA BRAVES HLDGS INC

Reduce 100.00%

−668,962

−1.58

≡

TIGO – MILLICOM INTL CELLULAR S A

Sell

−834,429

−1.58

≡

SHEN – SHENANDOAH TELECOMMUNICATION

Reduce 100.00%

−2,280,368

−1.57

≡

ANGI – ANGI INC

Sell

−1,806,694

−1.39

≡

WTM – WHITE MTNS INS GROUP LTD

Reduce 73.00%

−14,732

−1.36

≡

CLW – CLEARWATER PAPER CORP

Reduce 100.00%

−934,977

−1.28

≡

DIS – DISNEY WALT CO

Reduce 77.00%

−180,642

−1.15

≡

PCH – POTLATCHDELTIC CORPORATION

Reduce 69.00%

−577,014

−1.08

≡

ESRT – EMPIRE ST RLTY TR INC

Reduce 100.00%

−2,621,754

−1.07

≡

SAM – BOSTON BEER INC

Reduce 100.00%

−106,028

−1.02

≡

OSCR – OSCAR HEALTH INC

Sell

−880,452

−0.95

≡

PK – PARK HOTELS & RESORTS INC

Sell

−1,335,745

−0.69

≡

PVH – PVH CORPORATION

Reduce 31.00%

−345,916

−0.57

≡

MLCO – MELCO RESORTS AND ENTMNT LTD

Reduce 51.00%

−2,068,308

−0.55

≡

HWLDF – H WORLD GROUP LTD

Reduce 51.00%

−299,140

−0.43

≡

DOLE – DOLE PLC

Reduce 21.00%

−514,659

−0.40

≡

TRIP – TRIPADVISOR INC

Reduce 9.00%

−245,574

0.24

≡

REGN – REGENERON PHARMACEUTICALS

Reduce 10.00%

−13,407

−0.09

≡

LYV – LIVE NATION ENTERTAINMENT IN

Reduce 26.00%

−3,706

−0.02

≡

WEST – WESTROCK COFFEE CO

Sell

−58,650

−0.02

Q2 2025filed Aug 14, 2543 exited

≡

CNX – CNX RES CORP

Sell

−4,062,036

−6.82

≡

IAC – IAC INC

Sell

−1,954,117

−4.78

≡

ACI – ALBERTSONS COS INC

Sell

−4,059,129

−4.76

≡

DINO – HF SINCLAIR CORP

Sell

−2,143,958

−3.76

≡

KHC – KRAFT HEINZ CO

Sell

−1,996,150

−3.24

≡

REGN – REGENERON PHARMACEUTICALS

Sell

−92,393

−3.12

≡

TIGO – MILLICOM INTL CELLULAR S A

Sell

−1,653,392

−2.67

≡

SN – SHARKNINJA INC

Sell

−545,403

−2.42

≡

CNH – CNH INDL N V

Sell

−3,308,474

−2.17

≡

PCH – POTLATCHDELTIC CORPORATION

Sell

−810,093

−1.95

≡

WTM – WHITE MTNS INS GROUP LTD

Sell

−17,688

−1.82

≡

BATRA – ATLANTA BRAVES HLDGS INC

Sell

−849,991

−1.81

≡

DOLE – DOLE PLC

Sell

−2,349,513

−1.81

≡

PVH – PVH CORPORATION

Sell

−518,769

−1.79

≡

OSCR – OSCAR HEALTH INC

Sell

−2,093,518

−1.46

≡

SAM – BOSTON BEER INC

Sell

−106,204

−1.35

≡

PK – PARK HOTELS & RESORTS INC

Sell

−2,308,391

−1.31

≡

TRIP – TRIPADVISOR INC

Sell

−1,725,545

−1.30

≡

HWLDF – H WORLD GROUP LTD

Sell

−588,001

−1.16

≡

HHH – HOWARD HUGHES HOLDINGS INC

Sell

−217,064

−0.86

≡

MLCO – MELCO RESORTS AND ENTMNT LTD

Sell

−2,673,095

−0.75

≡

ESRT – EMPIRE ST RLTY TR INC

Sell

−1,554,665

−0.65

≡

SHEN – SHENANDOAH TELECOMMUNICATION

Sell

−908,441

−0.61

≡

HDB – HDFC BANK LTD

Sell

−46,922

−0.17

≡

CAH – CARDINAL HEALTH INC

Sell

−17,581

−0.13

≡

LYV – LIVE NATION ENTERTAINMENT IN

Sell

−14,086

−0.10

≡

PYPL – PAYPAL HLDGS INC

Sell

−27,545

−0.10

≡

XPO – XPO INC

Sell

−15,980

−0.09

≡

FIS – FIDELITY NATL INFORMATION SV

Sell

−21,166

−0.08

≡

GHC – GRAHAM HLDGS CO

Sell

−1,491

−0.08

≡

ENOV – ENOVIS CORPORATION

Sell

−36,583

−0.07

≡

FDX – FEDEX CORP

Sell

−5,481

−0.07

≡

H – HYATT HOTELS CORP

Sell

−9,508

−0.06

≡

AMG – AFFILIATED MANAGERS GROUP IN

Sell

−6,838

−0.06

≡

HSIC – HENRY SCHEIN INC

Sell

−15,600

−0.06

≡

RXO – RXO INC

Sell

−53,978

−0.05

≡

GOOG – ALPHABET INC

Sell

−6,527

−0.05

≡

LAZ – LAZARD INC

Sell

−22,863

−0.05

≡

MSGS – MADISON SQUARE GRDN SPRT COR

Sell

−4,028

−0.04

≡

WEST – WESTROCK COFFEE CO

Sell

−106,242

−0.04

≡

BIO – BIO RAD LABS INC

Sell

−2,976

−0.04

≡

MAT – MATTEL INC

Sell

−33,320

−0.03

≡

MGM – MGM RESORTS INTERNATIONAL

Sell

−17,073

−0.03

Q4 2024filed Feb 14, 2544 exited

≡

CNX – CNX RES CORP

Sell

−3,546,757

−6.14

≡

FIS – FIDELITY NATL INFORMATION SV

Sell

−1,074,320

−4.10

≡

IAC – IAC INC

Sell

−1,987,304

−4.05

≡

ACI – ALBERTSONS COS INC

Sell

−4,234,505

−3.93

≡

DINO – HF SINCLAIR CORP

Sell

−2,014,880

−3.33

≡

KHC – KRAFT HEINZ CO

Sell

−2,046,700

−2.97

≡

RTX – RTX CORPORATION

Sell

−450,782

−2.46

≡

PVH – PVH CORPORATION

Sell

−437,447

−2.18

≡

CNH – CNH INDL N V

Sell

−3,871,492

−2.07

≡

SN – SHARKNINJA INC

Sell

−438,392

−2.02

≡

OSCR – OSCAR HEALTH INC

Sell

−3,126,349

−1.98

≡

TIGO – MILLICOM INTL CELLULAR S A

Sell

−1,658,811

−1.96

≡

PCH – POTLATCHDELTIC CORPORATION

Sell

−987,727

−1.83

≡

WTM – WHITE MTNS INS GROUP LTD

Sell

−17,921

−1.65

≡

BATRA – ATLANTA BRAVES HLDGS INC

Sell

−849,991

−1.54

≡

PK – PARK HOTELS & RESORTS INC

Sell

−2,308,391

−1.53

≡

SAM – BOSTON BEER INC

Sell

−106,204

−1.50

≡

DOLE – DOLE PLC

Sell

−2,349,513

−1.50

≡

HWLDF – H WORLD GROUP LTD

Sell

−588,001

−0.92

≡

HHH – HOWARD HUGHES HOLDINGS INC

Sell

−217,064

−0.79

≡

ESRT – EMPIRE ST RLTY TR INC

Sell

−1,554,665

−0.76

≡

MLCO – MELCO RESORTS AND ENTMNT LTD

Sell

−2,673,095

−0.73

≡

FWONA – LIBERTY MEDIA CORP DEL

Sell

−159,077

−0.51

≡

HDB – HDFC BANK LTD

Sell

−63,489

−0.19

≡

FWONA – LIBERTY MEDIA CORP DEL

Sell

−55,176

−0.17

≡

PYPL – PAYPAL HLDGS INC

Sell

−27,545

−0.11

≡

XPO – XPO INC

Sell

−15,980

−0.10

≡

CAH – CARDINAL HEALTH INC

Sell

−17,581

−0.10

≡

LYV – LIVE NATION ENTERTAINMENT IN

Sell

−14,086

−0.09

≡

ENOV – ENOVIS CORPORATION

Sell

−36,583

−0.08

≡

FDX – FEDEX CORP

Sell

−5,481

−0.07

≡

H – HYATT HOTELS CORP

Sell

−9,508

−0.07

≡

GHC – GRAHAM HLDGS CO

Sell

−1,491

−0.06

≡

RXO – RXO INC

Sell

−53,978

−0.06

≡

AMG – AFFILIATED MANAGERS GROUP IN

Sell

−6,838

−0.06

≡

GOOG – ALPHABET INC

Sell

−6,527

−0.06

≡

LAZ – LAZARD INC

Sell

−22,863

−0.06

≡

HSIC – HENRY SCHEIN INC

Sell

−15,600

−0.05

≡

BIO – BIO RAD LABS INC

Sell

−2,976

−0.05

≡

MSGS – MADISON SQUARE GRDN SPRT COR

Sell

−4,028

−0.04

≡

WEST – WESTROCK COFFEE CO

Sell

−106,242

−0.03

≡

MGM – MGM RESORTS INTERNATIONAL

Sell

−17,073

−0.03

≡

MAT – MATTEL INC

Sell

−33,320

−0.03

≡

04M.MU – ANYWHERE REAL ESTATE INC

Sell

−42,418

−0.01

Q4 2024filed Feb 14, 256 new26 added29 reduced4 exited

≡

CNX – CNX RES CORP

Reduce 80.00%

−3,800,191

−5.65

≡

IAC – IAC INC

Reduce 52.00%

−830,109

−2.49

≡

WMG – WARNER MUSIC GROUP CORP

Sell

−1,544,530

−2.28

≡

RTX – RTX CORPORATION

Reduce 84.00%

−376,571

−2.17

≡

PCH – POTLATCHDELTIC CORPORATION

Reduce 100.00%

−986,288

−2.10

≡

OSCR – OSCAR HEALTH INC

Reduce 100.00%

−2,049,977

−2.05

≡

WBD – WARNER BROS DISCOVERY INC

Sell

−4,700,848

−1.83

≡

PVH – PVH CORPORATION

Reduce 83.00%

−364,877

−1.72

≡

BATRA – ATLANTA BRAVES HLDGS INC

Reduce 100.00%

−848,965

−1.59

≡

PK – PARK HOTELS & RESORTS INC

Reduce 100.00%

−2,375,725

−1.58

≡

SAM – BOSTON BEER INC

Reduce 100.00%

−106,091

−1.45

≡

DOLE – DOLE PLC

Reduce 100.00%

−1,767,784

−1.36

≡

FWONA – LIBERTY MEDIA CORP DEL

Reduce 100.00%

−551,198

−1.33

≡

HHH – HOWARD HUGHES HOLDINGS INC

Reduce 100.00%

−319,087

−1.17

≡

CNX – CNX RES CORP

Reduce 25.00%

−1,193,821

−1.14

≡

ESRT – EMPIRE ST RLTY TR INC

Reduce 100.00%

−1,871,275

−0.98

≡

SN – SHARKNINJA INC

Reduce 25.00%

−143,016

−0.97

≡

FWONA – LIBERTY MEDIA CORP DEL

Reduce 71.00%

−392,363

−0.82

≡

HWLDF – H WORLD GROUP LTD

Reduce 49.00%

−333,412

−0.65

≡

CNH – CNH INDL N V

Reduce 77.00%

−2,994,762

0.47

≡

MLCO – MELCO RESORTS AND ENTMNT LTD

Reduce 17.00%

−518,642

−0.43

≡

MLCO – MELCO RESORTS AND ENTMNT LTD

Reduce 12.00%

−380,638

−0.39

≡

HHH – HOWARD HUGHES HOLDINGS INC

Reduce 32.00%

−102,354

−0.38

≡

FWONA – LIBERTY MEDIA CORP DEL

Reduce 100.00%

−119,623

−0.28

≡

HWLDF – H WORLD GROUP LTD

Reduce 13.00%

−89,331

−0.27

≡

ESRT – EMPIRE ST RLTY TR INC

Reduce 17.00%

−318,963

−0.22

≡

WTM – WHITE MTNS INS GROUP LTD

Reduce 93.00%

−17,610

0.12

≡

FWONA – LIBERTY MEDIA CORP DEL

Reduce 54.00%

−64,530

−0.11

≡

HDB – HDFC BANK LTD

Reduce 35.00%

−33,630

−0.10

≡

SEG – SEAPORT ENTMT GROUP INC

Sell

−35,490

−0.05

≡

WEST – WESTROCK COFFEE CO

Reduce 94.00%

−100,300

−0.03

≡

04M.MU – ANYWHERE REAL ESTATE INC

Reduce 88.00%

−37,406

−0.01

≡

SEG – SEAPORT ENTERTAINMENT GRP

Sell

−20

0.00

Q3 2024filed Nov 14, 247 new3 added56 reduced5 exited

≡

MAT – MATTEL INC

Reduce 100.00%

−6,765,855

−4.79

≡

FDX – FEDEX CORP

Reduce 98.00%

−352,827

−4.61

≡

AMG – AFFILIATED MANAGERS GROUP IN

Reduce 99.00%

−574,659

−3.90

≡

CNX – CNX RES CORP

Reduce 74.00%

−4,177,456

−3.74

≡

MAT – MATTEL INC

Reduce 80.00%

−5,466,202

−3.62

≡

K – Kellanova

Sell

−1,425,295

−3.58

≡

FIS – FIDELITY NATL INFORMATION SV

Reduce 98.00%

−1,068,556

−3.49

≡

MGM – MGM RESORTS INTERNATIONAL

Reduce 99.00%

−1,665,664

−3.23

≡

FDX – FEDEX CORP

Reduce 64.00%

−229,065

−3.01

≡

BIO – BIO RAD LABS INC

Reduce 99.00%

−230,148

−2.73

≡

CNH – CNH INDL N V

Reduce 82.00%

−4,915,513

−2.63

≡

CNH – CNH INDL N V

Reduce 35.00%

−2,098,432

−2.63

≡

LYV – LIVE NATION ENTERTAINMENT IN

Reduce 98.00%

−613,300

−2.49

≡

H – HYATT HOTELS CORP

Reduce 97.00%

−363,487

−2.40

≡

MGM – MGM RESORTS INTERNATIONAL

Reduce 69.00%

−1,166,108

−2.31

≡

AMG – AFFILIATED MANAGERS GROUP IN

Reduce 66.00%

−382,311

−2.29

≡

H – HYATT HOTELS CORP

Reduce 89.00%

−330,408

−2.16

≡

GHC – GRAHAM HLDGS CO

Reduce 98.00%

−65,888

−2.00

≡

FIS – FIDELITY NATL INFORMATION SV

Reduce 63.00%

−687,404

−1.99

≡

IAC – IAC INC

Reduce 61.00%

−1,062,201

−1.83

≡

WMG – WARNER MUSIC GROUP CORP

Reduce 83.00%

−1,396,648

−1.83

≡

WBD – WARNER BROS DISCOVERY INC

Reduce 74.00%

−5,726,475

−1.73

≡

BATRA – ATLANTA BRAVES HLDGS INC

Reduce 100.00%

−981,210

−1.69

≡

OSCR – OSCAR HEALTH INC

Reduce 100.00%

−2,395,226

−1.65

≡

PYPL – PAYPAL HLDGS INC

Reduce 96.00%

−658,629

−1.63

≡

PVH – PVH CORPORATION

Reduce 81.00%

−352,450

−1.61

≡

PK – PARK HOTELS & RESORTS INC

Reduce 100.00%

−2,422,834

−1.58

≡

WTM – WHITE MOUNTAINS

Reduce 91.00%

−17,813

−1.55

≡

GHC – GRAHAM HLDGS CO

Reduce 80.00%

−53,953

−1.53

≡

PCH – POTLATCHDELTIC CORPORATION

Reduce 100.00%

−869,658

−1.49

≡

RTX – RTX CORPORATION

Reduce 80.00%

−362,787

−1.47

≡

BIO – BIO RAD LABS INC

Reduce 63.00%

−147,406

−1.42

≡

SAM – BOSTON BEER INC

Reduce 100.00%

−106,091

−1.41

≡

CNX – CNX RES CORP

Reduce 15.00%

−868,302

1.34

≡

IMKTA – Ingles Markets Incorporated -

Sell

−440,184

−1.32

≡

LYV – LIVE NATION ENTERTAINMENT IN

Reduce 60.00%

−375,749

−1.26

≡

PYPL – PAYPAL HLDGS INC

Reduce 81.00%

−556,995

−1.26

≡

FISV – Fiserv Inc

Sell

−178,443

−1.16

≡

ESRT – EMPIRE ST RLTY TR INC

Reduce 100.00%

−2,710,434

−1.11

≡

FWONA – LIBERTY MEDIA CORP DEL

Reduce 100.00%

−550,740

−0.92

≡

HHH – HOWARD HUGHES HOLDINGS INC

Reduce 100.00%

−319,023

−0.90

≡

DOLE – DOLE PLC

Reduce 100.00%

−1,623,339

−0.87

≡

04M.MU – ANYWHERE REAL ESTATE INC

Reduce 100.00%

−5,705,056

−0.82

≡

04M.MU – ANYWHERE REAL ESTATE INC

Reduce 99.00%

−5,667,650

−0.81

≡

FDX – FEDEX CORP

Reduce 13.00%

−48,170

−0.68

≡

WBD – WARNER BROS DISCOVERY INC

Reduce 39.00%

−2,996,133

−0.67

≡

IAC – IAC INC

Reduce 8.00%

−141,038

0.51

≡

OSCR – OSCAR HEALTH INC

Reduce 14.00%

−343,527

0.40

≡

AMG – AFFILIATED MANAGERS GROUP IN

Reduce 11.00%

−62,692

0.39

≡

HWLDF – H WORLD GROUP LTD

Reduce 43.00%

−294,137

−0.31

≡

IBTA – Ibotta Inc

Sell

−70,000

−0.23

≡

FWONA – LIBERTY MEDIA CORP DEL

Reduce 100.00%

−119,525

−0.20

≡

GHC – GRAHAM HLDGS CO

Reduce 14.00%

−9,490

0.19

≡

ESRT – EMPIRE ST RLTY TR INC

Reduce 31.00%

−839,266

−0.13

≡

BATRA – ATLANTA BRAVES HLDGS INC

Reduce 13.00%

−132,245

−0.09

≡

HDB – HDFC BANK LTD

Reduce 21.00%

−25,956

−0.06

≡

GEHC – GE Healthcare Holding LLC

Sell

−15,627

−0.05

≡

WEST – WESTROCK COFFEE CO

Reduce 94.00%

−100,300

−0.05

≡

WMG – WARNER MUSIC GROUP CORP

Reduce 8.00%

−133,467

0.04

≡

H – HYATT HOTELS CORP

Reduce 6.00%

−23,648

0.04

≡

04M.MU – ANYWHERE REAL ESTATE INC

Reduce 40.00%

−2,266,575

0.00

Q2 2024filed Aug 14, 249 new17 added47 reduced2 exited

≡

MAT – Mattel, Inc.

Reduce 100.00%

−6,765,855

−5.15

≡

CNX – CNX Resources Corp

Reduce 76.00%

−5,191,488

−4.50

≡

MAT – Mattel, Inc.

Reduce 80.00%

−5,423,162

−4.20

≡

FDX – FedEx Corporation

Reduce 98.00%

−352,827

−3.92

≡

AMG – Affiliated Managers Group Inc.

Reduce 99.00%

−574,659

−3.70

≡

LYV – Live Nation Entertainment Inc

Reduce 98.00%

−780,521

−3.17

≡

BIO – Bio-Rad Laboratories Inc

Reduce 99.00%

−230,148

−3.06

≡

FIS – Fidelity National Information

Reduce 98.00%

−1,068,556

−3.04

≡

MGM – MGM Resorts International

Reduce 99.00%

−1,385,437

−2.51

≡

CNH – CNH Industrial NV - U.S.

Reduce 82.00%

−4,913,030

−2.51

≡

AMG – Affiliated Managers Group Inc.

Reduce 64.00%

−374,583

−2.33

≡

H – Hyatt Hotels Corp. - Class A

Reduce 97.00%

−363,487

−2.22

≡

LYV – Live Nation Entertainment Inc

Reduce 67.00%

−533,616

−2.16

≡

IAC – IAC Inc

Reduce 60.00%

−1,036,884

−2.13

≡

FDX – FedEx Corporation

Reduce 59.00%

−211,864

−2.08

≡

BIO – Bio-Rad Laboratories Inc

Reduce 62.00%

−144,211

−2.04

≡

H – Hyatt Hotels Corp. - Class A

Reduce 89.00%

−330,308

−2.00

≡

RTX – RTX Corporation

Reduce 86.00%

−547,410

−2.00

≡

GHC – Graham Holdings Company

Reduce 98.00%

−65,888

−1.94

≡

K – Kellanova

Reduce 62.00%

−881,521

−1.77

≡

OSCR – Oscar Health Inc

Reduce 100.00%

−3,064,895

−1.75

≡

FIS – Fidelity National Information

Reduce 62.00%

−673,090

−1.74

≡

PYPL – PayPal Holdings Inc

Reduce 96.00%

−658,629

−1.70

≡

LBRDA – Liberty Broadband Corporation

Sell

−761,905

−1.68

≡

GHC – Graham Holdings Company

Reduce 80.00%

−53,953

−1.58

≡

PCH – PotlatchDeltic Corporation

Reduce 100.00%

−870,073

−1.57

≡

WBD – Warner Bros Discovery Inc

Reduce 59.00%

−4,562,568

−1.57

≡

MGM – MGM Resorts International

Reduce 62.00%

−869,362

−1.51

≡

WMG – Warner Music Group Corp.

Reduce 71.00%

−1,187,426

−1.47

≡

BATRA – Atlanta Braves Holdings Inc Cl

Reduce 100.00%

−981,210

−1.47

≡

PYPL – PayPal Holdings Inc

Reduce 81.00%

−557,430

−1.44

≡

WTM – White Mountains Insurance Grou

Reduce 92.00%

−21,138

−1.44

≡

04M.MU – Anywhere Real Estate Inc

Reduce 100.00%

−5,704,520

−1.36

≡

04M.MU – Anywhere Real Estate Inc

Reduce 99.00%

−5,667,650

−1.35

≡

IMKTA – Ingles Markets Incorporated -

Reduce 100.00%

−439,720

−1.30

≡

SAM – Boston Beer Company Inc.

Reduce 100.00%

−106,091

−1.24

≡

ESRT – Empire State Realty Trust Inc.

Reduce 100.00%

−3,061,225

−1.19

≡

PVH – PVH Corp

Reduce 66.00%

−163,098

−0.95

≡

FISV – Fiserv Inc

Reduce 81.00%

−144,969

−0.88

≡

DEI – Douglas Emmett Inc

Sell

−1,329,830

−0.71

≡

LYV – Live Nation Entertainment Inc

Reduce 21.00%

−167,221

−0.67

≡

RTX – RTX Corporation

Reduce 29.00%

−184,830

−0.41

≡

CNX – CNX Resources Corp

Reduce 17.00%

−1,177,970

−0.25

≡

HTHT – H World Group Limited ADR

Reduce 26.00%

−148,355

−0.24

≡

SN – SharkNinja Inc

Reduce 17.00%

−125,889

0.22

≡

OSCR – Oscar Health Inc

Reduce 22.00%

−669,609

−0.10

≡

ESRT – Empire State Realty Trust Inc.

Reduce 11.00%

−351,650

−0.08

≡

WEST – Westrock Coffee Company

Reduce 93.00%

−80,151

−0.03

≡

WTM – White Mountains Insurance Grou

Reduce 14.00%

−3,325

−0.03