Investor: Michael DeMichele & Farhad Nanji
Number of Assets: 9
Reporting Period: Q2 - 2025
Holdings at Report: $4,672,899,704
Return Since Report: +$286,688,140
Return Since Report: +6.14%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| XPO Inc. (XPO) | Equity | 0% | 11,425,369 | 31.68% | $126.29 | $130.50 | $1,442,909,851 | $1,490,953,528 | +$48,043,677 | +3.33% |
| Talen Energy Corp. (TLN) | Equity | 0% | 3,000,000 | 19.15% | $290.77 | $392.06 | $872,310,000 | $1,176,165,000 | +$303,855,000 | +34.83% |
| CNX Resources Corp. (CNX) | Equity | 0% | 8,350,000 | 6.17% | $33.68 | $29.43 | $281,228,000 | $245,698,750 | -$35,529,250 | -12.63% |
| Bausch Health Companies Inc. (BHC) | Equity | 0% | 6,000,000 | 0.88% | $6.66 | $7.20 | $39,960,000 | $43,200,000 | +$3,240,000 | +8.11% |
| Rxo Inc. (RXO) | Equity | 0% | 27,577,666 | 9.52% | $15.72 | $16.59 | $433,520,910 | $457,375,591 | +$23,854,681 | +5.50% |
| QXO Inc. (QXO) | Equity | 0% | 46,908,701 | 22.18% | $21.54 | $18.35 | $1,010,413,420 | $860,774,663 | -$149,638,757 | -14.81% |
| Pennymac Financial Services Inc. (PFSI) | Equity | 0% | 4,531,792 | 9.91% | $99.64 | $120.23 | $451,547,755 | $544,857,352 | +$93,309,597 | +20.66% |
| Ivanhoe Electric Inc. (IE) | Equity | 0% | 2,553,191 | 0.51% | $9.07 | $8.90 | $23,157,442 | $22,710,634 | -$446,808 | -1.93% |