Location: New York, NY
CIK: 0001633625 · Show all filings
Period: Q4 2025 (← Previous) (Next →)
Filing Date: Feb 10, 2026
Total Value: $341M (100.0% shares, 0.0% debt)
| Ticker | Issuer | Shares | Value | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| MERC | MERCER INTERNATIONAL INC SBI | 17,220,000 | $34.1M | 10.0% | $5.88 | -64.2% | Com | 588056101 |
| GLW | CORNING INC | 368,350 | $32.25M | 9.4% | $33.25 | +158.6% | Com | 219350105 |
| AMGN | AMGEN INC | 92,500 | $30.28M | 8.9% | $122.75 | +157.4% | Com | 031162100 |
| SRL | SCULLY ROYALTY LTD | 3,416,664 | $29.21M | 8.6% | $9.79 | -37.4% | Com | G7T96K107 |
| NTPIF | NAM TAI PROPERTY INC | 5,774,800 | $24.83M | 7.3% | $6.56 | -37.0% | Com | G63907102 |
| — | NAM TAI G63907-10-2 PRIVATE | 5,336,452 | $22.95M | 6.7% | $5.50 | — | Com | G63907PP1 |
| GS | GOLDMAN SACHS GROUP INC | 21,050 | $18.5M | 5.4% | $226.28 | +259.4% | Com | 38141G104 |
| HLIO | HELIOS TECHNOLOGIES INC | 300,000 | $16.05M | 4.7% | $46.71 | +15.4% | Com | 42328H109 |
| — | ARGONAUT GROUP STATUTORY TR - CALL | 12,000 | $12M | 3.5% | $1000.00 | — | Pref | 8AMCSFQW9 |
| MTN | VAIL RESORTS INC. | 84,000 | $11.16M | 3.3% | $130.62 | +12.7% | Com | 91879Q109 |
| XOM | EXXON MOBIL CORP | 79,600 | $9.579M | 2.8% | $44.77 | +158.0% | Com | 30231G102 |
| — | DELPHI FINANCIAL GROUP - CALLABLE | 328,790 | $8.055M | 2.4% | $19.89 | — | Pref | 247131303 |
| AMD | ADVANCED MICRO DEVICES INC | 33,936 | $7.268M | 2.1% | $119.38 | +88.1% | Com | 007903107 |
| — | TENNESSEE VALLEY AUTHORITY | 260,000 | $6.373M | 1.9% | $22.13 | — | Pref | 880591409 |
| — | WINTRUST FINANCIAL CORP-CALL | 220,000 | $5.731M | 1.7% | $25.70 | — | Pref | 97650W702 |
| — | ALGONQUIN POWER & UTILITIES CORP | 200,000 | $5.11M | 1.5% | $25.20 | — | Pref | 015857808 |
| GE | GENERAL ELECTRIC CO | 15,125 | $4.659M | 1.4% | $62.95 | +377.8% | Com | 369604301 |
| — | KKR & CO INC | 180,000 | $4.63M | 1.4% | $25.51 | — | Pref | 48251W609 |
| — | WESBANCO INC - CALLABLE | 130,000 | $3.353M | 1.0% | $25.38 | — | Pref | 950810887 |
| — | TENNESSEE VALLEY AUTHORITY PARRS | 120,000 | $2.885M | 0.8% | $21.98 | — | Pref | 880591300 |
| TEL | TE CONNECTIVITY COM | 12,500 | $2.844M | 0.8% | $146.90 | +57.4% | Com | G87052109 |
| — | EAGLE POINT CREDIT CO-CALLABLE | 120,000 | $2.837M | 0.8% | $23.97 | — | Pref | 269809885 |
| — | F&G ANNUITIES & LIFE INC - CALLABL | 120,000 | $2.638M | 0.8% | $24.60 | — | Pref | 30190A609 |
| — | OXFORD LANE CAP CORP | 100,000 | $2.524M | 0.7% | $24.63 | — | Pref | 691543854 |
| GEV | GE VERNOVA INC | 3,780 | $2.47M | 0.7% | $158.10 | +285.2% | Com | 36828A101 |
| PRE 4.875 PERP J | PARTNERRE LTD - CALLABLE | 120,000 | $2.052M | 0.6% | $17.34 | — | Pref | G68603169 |
| — | OXFORD LANE CAP CORP | 80,000 | $2.051M | 0.6% | $25.00 | — | Pref | 691543862 |
| TRTN 7.625 PERP | TRITON INTL LTD-CALLABLE | 80,000 | $2.026M | 0.6% | $25.15 | — | Pref | G9078F164 |
| — | RAMCO RES INC-CALLABLE | 80,000 | $2.022M | 0.6% | $25.65 | — | Pref | 75134P808 |
| — | XCEL ENERGY INC-CALLABLE | 80,000 | $2.002M | 0.6% | $25.02 | — | Pref | 98389B878 |
| AHL 7 PERP | ASPEN INSURANCE HOLDINGS-CALL | 80,000 | $1.992M | 0.6% | $25.39 | — | Pref | G05384170 |
| — | TANSCANADA PIPELINE STR | 80,000 | $1.959M | 0.6% | $24.49 | — | Pref | 893526681 |
| — | AFFILIATED MANAGERS GROUP INC-CALL | 80,000 | $1.938M | 0.6% | $12.77 | — | Pref | 008252827 |
| — | COREBRIDGE FINL INC-CALLABLE | 80,000 | $1.852M | 0.5% | $25.40 | — | Pref | 21871X208 |
| — | NEWTEKONE INC-CALLABLE | 80,000 | $1.844M | 0.5% | $24.12 | — | Pref | 652526864 |
| — | B RILEY FINANCIAL INC - CALLABLE | 140,000 | $1.715M | 0.5% | $25.11 | — | Pref | 05580M819 |
| JCI | JOHNSON CTLS INTL PLC | 11,937 | $1.429M | 0.4% | $33.21 | +245.7% | Com | G51502105 |
| — | AXIS CAPITAL HOLDINGS-CALLABLE | 70,000 | $1.394M | 0.4% | $25.35 | — | Pref | 05461T305 |
| PHIG | PHI GROUP INC | 39,712 | $1.271M | 0.4% | $1.01 | +2618.1% | Com | 69360B104 |
| — | US BANCORP -CALLABLE | 60,000 | $1.09M | 0.3% | $18.32 | — | Pref | 902973668 |
| — | BANK OZK | 60,000 | $997K | 0.3% | $25.22 | — | Pref | 06417N202 |
| — | AMERICAN FINL GROUP INC OHIO-CALL | 50,000 | $948K | 0.3% | $19.87 | — | Pref | 025932880 |
| — | CUSTOMERS BANCORP INC | 40,000 | $891K | 0.3% | $25.30 | — | Pref | 23204G803 |
| — | HUDSON PACIFIC PROPERTIES INC-CALL | 55,000 | $849K | 0.2% | $25.98 | — | Pref | 444097307 |
| — | GLOBE LIFE INC - CALLABLE | 50,000 | $842K | 0.2% | $16.39 | — | Pref | 37959E300 |
| PG | PROCTER & GAMBLE CO | 5,700 | $817K | 0.2% | $70.43 | +109.0% | Com | 742718109 |
| SPB | SPECTRUM BRANDS HOLDINGS INC | 12,799 | $756K | 0.2% | $56.67 | -0.7% | Com | 84790A105 |
| BRK/A | BERKSHIRE HATHAWAY INC DEL CL A | 1 | $755K | 0.2% | $219080.23 | +240.7% | Com | 084670108 |
| — | ARCH CAPITAL GROUP LTD | 40,000 | $664K | 0.2% | $16.60 | — | Pref | 03939A404 |
| — | COMERICA INC-CALLABLE | 20,000 | $523K | 0.2% | $25.23 | — | Pref | 200340701 |
| — | AMERICAN FINANCIAL GR INC OH-CALL | 30,000 | $507K | 0.1% | $18.79 | — | Pref | 025932864 |
| — | BROOKFIELD BRP HLDGS INC-CALLABLE | 20,000 | $502K | 0.1% | $25.01 | — | Pref | 11259P307 |
| — | ATLANTICUS HOLDINS CORP - CALL | 20,000 | $496K | 0.1% | $25.56 | — | Pref | 04914Y300 |
| — | PROSPECT CAP CORP | 30,000 | $496K | 0.1% | $23.36 | — | Pref | 74348T565 |
| — | SCE TR VIII-CALLABLE | 20,000 | $482K | 0.1% | $25.84 | — | Pref | 80620A208 |
| ABBV | ABBVIE INC | 1,948 | $445K | 0.1% | $70.50 | +222.7% | Com | 00287Y109 |
| — | READY CAPITAL CORP | 20,000 | $416K | 0.1% | $25.11 | — | Pref | 75574U838 |
| GEHC | GE HEALTHCARE TECHNOLOGIES INC | 5,040 | $413K | 0.1% | $71.08 | +9.6% | Com | 36266G107 |
| — | SLM CORP PFD SERIES B | 4,500 | $327K | 0.1% | $52.67 | — | Pref | 78442P502 |
| PRHI | CONIFER HOLDINGS INC | 250,000 | $178K | 0.1% | $2.99 | -61.3% | Com | 20731J102 |
| — | LADENBURG THALMAN FIN SVCS INC | 5,000 | $113K | 0.0% | $24.64 | — | Pref | 50575Q300 |
| — | OFFICE PPTYS INCOME TR | 40,000 | $74,800 | 0.0% | $25.05 | — | Pref | 67623C208 |
| CBL | CBL & ASSOC PPTYS INC | 658 | $24,346 | 0.0% | $31.91 | — | Com | 124830878 |
| ADNT | ADIENT LTD | 1,193 | $22,870 | 0.0% | $50.50 | -58.3% | Com | G0084W101 |
| — | SVB FINL TR | 240,000 | $19,200 | 0.0% | $0.01 | — | Pref | 78500B403 |
| KALU | KAISER ALUM CORP DEPOSITARY S CMN | 70 | $8,040 | 0.0% | $51.13 | +84.7% | Com | 483007704 |
| BLIAQ | BB LIQUIDATING INC - CLASS A | 54,211 | $813 | 0.0% | $0.00 | +225.6% | Com | 05532D107 |
| BLIBQ | BB LIQUIDATING INC - CLASS B | 54,211 | $434 | 0.0% | $0.00 | +844.7% | Com | 05532D206 |
| CDVIQ | CAL DIVE INTERNATIONAL INC | 500,000 | $50 | 0.0% | $0.00 | +801.6% | Com | 12802T101 |
| — | ROOMSTORE INC - CMN | 43,661 | $4 | 0.0% | $0.00 | — | Com | 77638R108 |
| CRSXQ | CORSA COAL CORP | 2,226,000 | $2 | 0.0% | $0.90 | -83.1% | Com | 22041E609 |