Investor: Michael DeMichele & Farhad Nanji
Number of Assets: 9
Reporting Period: Q3 - 2025
Holdings at Report: $4,951,756,395
Return Since Report: +$139,191,015
Return Since Report: +2.81%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| QXO Inc. (QXO) | Equity | -18.46% | 38,250,850 | 15.17% | $19.06 | $21.09 | $729,061,201 | $806,519,172 | +$77,457,971 | +10.62% |
| Pennymac Financial Services Inc. (PFSI) | Equity | 0% | 4,531,792 | 11.68% | $123.88 | $129.64 | $561,398,393 | $587,478,856 | +$26,080,463 | +4.65% |
| XPO Inc. (XPO) | Equity | 0% | 11,425,369 | 30.73% | $129.27 | $145.92 | $1,476,957,451 | $1,667,189,844 | +$190,232,393 | +12.88% |
| Rxo Inc. (RXO) | Equity | 0% | 27,577,666 | 8.82% | $15.38 | $14.94 | $424,144,503 | $412,010,330 | -$12,134,173 | -2.86% |
| CNX Resources Corp. (CNX) | Equity | 0% | 8,350,000 | 5.58% | $32.12 | $38.52 | $268,202,000 | $321,642,000 | +$53,440,000 | +19.93% |
| Bausch Health Companies Inc. (BHC) | Equity | 0% | 6,000,000 | 0.81% | $6.45 | $6.89 | $38,700,000 | $41,310,000 | +$2,610,000 | +6.74% |
| Talen Energy Corp. (TLN) | Equity | 0% | 3,000,000 | 26.55% | $425.38 | $357.03 | $1,276,140,000 | $1,071,075,000 | -$205,065,000 | -16.07% |
| Ivanhoe Electric Inc. (IE) | Equity | 0% | 2,553,191 | 0.67% | $12.55 | $15.12 | $32,042,547 | $38,611,907 | +$6,569,360 | +20.50% |
| Occidental Petroleum Corp. (OXY-WS) | Bond | +100% | 5,690,600 | N/A | $25.50 | N/A | $145,110,300 | N/A | N/A | N/A |