Nepsis Inc. Concentrated Active

Location: Minneapolis, MN

CIK: 0001587643 · Show all filings

Period: Q3 2026 (← Previous)

Filing Date: Oct 13, 2026

Total Value: $317M (100.0% shares, 0.0% debt)

Holdings (28)

New Positions (1)

INCY INCYTE CORP 3.9%

Value $12.26M Shares 101,033 Share Price $121.35 Est. Cost/Share $122.02 Unrealized @ Report Date -0.5%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
INCY	INCYTE CORP	101,033	$12.26M	3.9%	$121.35	$122.02	-0.5%	COM	45337C102

Increased Positions (11)

SMCI SUPER MICRO COMPUTER INC 5.5%

Value $17.4M (+52.4%) Shares 423,564 (+8.9%) Share Price $41.07 Est. Cost/Share $36.22 Unrealized @ Report Date +13.4%

MDT MEDTRONIC PLC 4.7%

Value $14.88M (+32.1%) Shares 172,429 (+19.8%) Share Price $86.29 Est. Cost/Share $90.44 Unrealized @ Report Date -4.6%

UTHR UNITED THERAPEUTICS CORP DEL 5.2%

Value $16.44M (+11.2%) Shares 30,336 (+11.2%) Share Price $541.89 Est. Cost/Share $357.59 Unrealized @ Report Date +51.5%

MA MASTERCARD INCORPORATED 4.2%

Value $13.29M (+9.2%) Shares 24,105 (+1.7%) Share Price $551.48 Est. Cost/Share $340.97 Unrealized @ Report Date +61.7%

V VISA INC 4.5%

Value $14.21M (+6.9%) Shares 39,541 (+2.1%) Share Price $359.33 Est. Cost/Share $164.20 Unrealized @ Report Date +118.8%

JPST J P MORGAN EXCHANGE TRADED F 0.4%

Value $1.115M (+42.4%) Shares 22,135 (+43.0%) Share Price $50.37 Est. Cost/Share $50.53 Unrealized @ Report Date -0.3%

— BLACKROCK DEBT STRATEGIES FD 0.2%

Value $606K (+110.7%) Shares 67,313 (+127.1%) Share Price $9.00 Est. Cost/Share $9.43 Unrealized @ Report Date —

XE X-ENERGY INC 2.0%

Value $6.498M (-4.4%) Shares 458,223 (+23.8%) Share Price $14.18 Est. Cost/Share $24.22 Unrealized @ Report Date -41.5%

NHI NATIONAL HEALTH INVS INC 1.0%

Value $3.238M (+4.2%) Shares 49,339 (+21.0%) Share Price $65.63 Est. Cost/Share $88.92 Unrealized @ Report Date —

PDM PIEDMONT REALTY TRUST INC 1.4%

Value $4.353M (-1.6%) Shares 489,139 (+1.2%) Share Price $8.90 Est. Cost/Share $8.91 Unrealized @ Report Date —

UBER UBER TECHNOLOGIES INC 3.9%

Value $12.24M (+0.3%) Shares 178,713 (+5.7%) Share Price $68.51 Est. Cost/Share $72.51 Unrealized @ Report Date -5.5%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SMCI	SUPER MICRO COMPUTER INC	423,564 (+8.9%)	$17.4M (+52.4%)	5.5%	$41.07	$36.22	+13.4%	COM NEW	86800U302
MDT	MEDTRONIC PLC	172,429 (+19.8%)	$14.88M (+32.1%)	4.7%	$86.29	$90.44	-4.6%	SHS	G5960L103
UTHR	UNITED THERAPEUTICS CORP DEL	30,336 (+11.2%)	$16.44M (+11.2%)	5.2%	$541.89	$357.59	+51.5%	COM	91307C102
MA	MASTERCARD INCORPORATED	24,105 (+1.7%)	$13.29M (+9.2%)	4.2%	$551.48	$340.97	+61.7%	CL A	57636Q104
V	VISA INC	39,541 (+2.1%)	$14.21M (+6.9%)	4.5%	$359.33	$164.20	+118.8%	COM CL A	92826C839
JPST	J P MORGAN EXCHANGE TRADED F	22,135 (+43.0%)	$1.115M (+42.4%)	0.4%	$50.37	$50.53	-0.3%	ULTRA SHRT ETF	46641Q837
—	BLACKROCK DEBT STRATEGIES FD	67,313 (+127.1%)	$606K (+110.7%)	0.2%	$9.00	$9.43	—	COM NEW	09255R202
XE	X-ENERGY INC	458,223 (+23.8%)	$6.498M (-4.4%)	2.0%	$14.18	$24.22	-41.5%	COM CL A	98386P102
NHI	NATIONAL HEALTH INVS INC	49,339 (+21.0%)	$3.238M (+4.2%)	1.0%	$65.63	$88.92	—	COM	63633D104
PDM	PIEDMONT REALTY TRUST INC	489,139 (+1.2%)	$4.353M (-1.6%)	1.4%	$8.90	$8.91	—	COM CL A	720190206
UBER	UBER TECHNOLOGIES INC	178,713 (+5.7%)	$12.24M (+0.3%)	3.9%	$68.51	$72.51	-5.5%	COM	90353T100

Exited Positions (1)

IRM IRON MTN INC DEL 0.9%

Value $2.783M Shares 22,032 Share Price $126.31 Est. Cost/Share $57.63 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
IRM	IRON MTN INC DEL	22,032	$2.783M	0.9%	$126.31	$57.63	—	—	46284V101

Decreased Positions (8)

SNOW SNOWFLAKE INC 4.1%

Value $12.89M (-22.2%) Shares 37,968 (-41.7%) Share Price $339.56 Est. Cost/Share $171.88 Unrealized @ Report Date +97.6%

NOW SERVICENOW INC 5.2%

Value $16.47M (+18.2%) Shares 122,889 (-12.4%) Share Price $134.01 Est. Cost/Share $99.01 Unrealized @ Report Date +35.4%

AMD ADVANCED MICRO DEVICES INC 4.7%

Value $14.97M (-14.4%) Shares 24,468 (-18.7%) Share Price $611.76 Est. Cost/Share $85.26 Unrealized @ Report Date +617.5%

DVN DEVON ENERGY CORP NEW 5.3%

Value $16.78M (+10.0%) Shares 364,556 (-1.3%) Share Price $46.04 Est. Cost/Share $34.08 Unrealized @ Report Date +35.1%

ANET ARISTA NETWORKS INC 4.1%

Value $13.16M (-4.1%) Shares 64,636 (-20.0%) Share Price $203.59 Est. Cost/Share $103.92 Unrealized @ Report Date +95.9%

SO SOUTHERN CO 0.6%

Value $2.01M (-15.7%) Shares 24,246 (-2.6%) Share Price $82.89 Est. Cost/Share $53.27 Unrealized @ Report Date +55.6%

AIG AMERICAN INTL GROUP INC 3.4%

Value $10.73M (-3.2%) Shares 144,198 (-3.1%) Share Price $74.42 Est. Cost/Share $42.17 Unrealized @ Report Date +76.5%

DUK DUKE ENERGY CORP NEW 0.3%

Value $961K (-11.8%) Shares 8,432 (-2.1%) Share Price $114.01 Est. Cost/Share $102.86 Unrealized @ Report Date +10.8%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SNOW	SNOWFLAKE INC	37,968 (-41.7%)	$12.89M (-22.2%)	4.1%	$339.56	$171.88	+97.6%	COM SHS	833445109
NOW	SERVICENOW INC	122,889 (-12.4%)	$16.47M (+18.2%)	5.2%	$134.01	$99.01	+35.4%	COM	81762P102
AMD	ADVANCED MICRO DEVICES INC	24,468 (-18.7%)	$14.97M (-14.4%)	4.7%	$611.76	$85.26	+617.5%	COM	007903107
DVN	DEVON ENERGY CORP NEW	364,556 (-1.3%)	$16.78M (+10.0%)	5.3%	$46.04	$34.08	+35.1%	COM	25179M103
ANET	ARISTA NETWORKS INC	64,636 (-20.0%)	$13.16M (-4.1%)	4.1%	$203.59	$103.92	+95.9%	COM SHS	040413205
SO	SOUTHERN CO	24,246 (-2.6%)	$2.01M (-15.7%)	0.6%	$82.89	$53.27	+55.6%	COM	842587107
AIG	AMERICAN INTL GROUP INC	144,198 (-3.1%)	$10.73M (-3.2%)	3.4%	$74.42	$42.17	+76.5%	COM NEW	026874784
DUK	DUKE ENERGY CORP NEW	8,432 (-2.1%)	$961K (-11.8%)	0.3%	$114.01	$102.86	+10.8%	COM NEW	26441C204

Unchanged Positions (8)

SHOP SHOPIFY INC 5.0%

Value $15.73M Shares 106,083 Share Price $148.30 Est. Cost/Share $77.91 Unrealized @ Report Date +90.4%

AMGN AMGEN INC 6.2%

Value $19.81M Shares 47,008 Share Price $421.51 Est. Cost/Share $236.24 Unrealized @ Report Date +78.4%

RDDT REDDIT INC 3.2%

Value $10.04M Shares 70,501 Share Price $142.44 Est. Cost/Share $168.25 Unrealized @ Report Date -15.3%

BMY BRISTOL-MYERS SQUIBB CO 5.1%

Value $16.18M Shares 259,326 Share Price $62.40 Est. Cost/Share $52.84 Unrealized @ Report Date +18.1%

RLI RLI CORP 4.9%

Value $15.71M Shares 284,106 Share Price $55.31 Est. Cost/Share $69.10 Unrealized @ Report Date -20.0%

HCAT HEALTH CATALYST INC 1.6%

Value $5.172M Shares 2,989,705 Share Price $1.73 Est. Cost/Share $3.63 Unrealized @ Report Date -52.3%

CB CHUBB LIMITED 4.6%

Value $14.76M Shares 45,371 Share Price $325.25 Est. Cost/Share $167.44 Unrealized @ Report Date +94.2%

RNR RENAISSANCERE HLDGS LTD 4.9%

Value $15.54M Shares 48,829 Share Price $318.23 Est. Cost/Share $181.17 Unrealized @ Report Date +75.7%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SHOP	SHOPIFY INC	106,083	$15.73M	5.0%	$148.30	$77.91	+90.4%	CL A SUB VTG SHS	82509L107
AMGN	AMGEN INC	47,008	$19.81M	6.2%	$421.51	$236.24	+78.4%	COM	031162100
RDDT	REDDIT INC	70,501	$10.04M	3.2%	$142.44	$168.25	-15.3%	CL A	75734B100
BMY	BRISTOL-MYERS SQUIBB CO	259,326	$16.18M	5.1%	$62.40	$52.84	+18.1%	COM	110122108
RLI	RLI CORP	284,106	$15.71M	4.9%	$55.31	$69.10	-20.0%	COM	749607107
HCAT	HEALTH CATALYST INC	2,989,705	$5.172M	1.6%	$1.73	$3.63	-52.3%	COM	42225T107
CB	CHUBB LIMITED	45,371	$14.76M	4.6%	$325.25	$167.44	+94.2%	COM	H1467J104
RNR	RENAISSANCERE HLDGS LTD	48,829	$15.54M	4.9%	$318.23	$181.17	+75.7%	COM	G7496G103