CIK: 0001698055 · Show all filings
Period: Q4 2025 (← Previous)
Filing Date: Feb 17, 2026
Total Value ($000): $1,528 (100.0% shares, 0.0% debt)
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| NDAQ | NASDAQ INC | 589,384 | $57 | 3.7% | $89.74 | 0.0% | COM | 631103108 |
| EQIX | EQUINIX INC | 43,120 | $33 | 2.2% | $781.19 | 0.0% | COM | 29444U700 |
| ICE | INTERCONTINENTAL EXCHANGE IN | 191,400 | $31 | 2.0% | $156.20 | 0.0% | COM | 45866F104 |
| FR | FIRST INDL RLTY TR INC | 505,685 | $29 | 1.9% | $0.06 | — | COM | 32054K103 |
| EPRT | ESSENTIAL PPTYS RLTY TR INC | 906,694 | $27 | 1.8% | $0.03 | — | COM | 29670E107 |
| WH | WYNDHAM HOTELS & RESORTS INC | 347,200 | $26 | 1.7% | $75.40 | 0.0% | COM | 98311A105 |
| AXS | AXIS CAPITAL HOLDINGS LTD | 240,750 | $26 | 1.7% | $99.34 | 0.0% | SHS | G0692U109 |
| TRV | TRAVELERS COMPANIES INC | 87,204 | $25 | 1.7% | $280.61 | 0.0% | COM | 89417E109 |
| PSA | PUBLIC STORAGE | 90,124 | $23 | 1.5% | $277.29 | 0.0% | COM | 74460D109 |
| SBRA | SABRA HEALTH CARE REIT INC | 1,082,968 | $21 | 1.3% | $0.02 | — | COM | 78573L106 |
| SPGI | S&P GLOBAL INC | 35,074 | $18 | 1.2% | $494.21 | 0.0% | COM | 78409V104 |
| DOC | PHYSICIANS RLTY TR | 1,029,091 | $17 | 1.1% | $17.46 | 0.0% | COM | 42250P103 |
| INTU | INTUIT | 22,387 | $15 | 1.0% | $660.69 | 0.0% | COM | 461202103 |
| ARES | ARES MGMT LP | 88,273 | $14 | 0.9% | $154.95 | 0.0% | COM SHS REG INT | 03990B101 |
| XLF | SELECT SECTOR SPDR TR | 250,000 | $14 | 0.9% | $0.05 | — | SBI INT-FINL | 81369Y605 |
| CBRE | CBRE GROUP INC | 84,437 | $14 | 0.9% | $157.23 | 0.0% | CL A | 12504L109 |
| GL | GLOBE LIFE INC | 92,700 | $13 | 0.8% | $135.45 | 0.0% | COM | 37959E102 |
| MRSH | MARSH & MCLENNAN COS INC | 69,600 | $13 | 0.8% | $186.43 | 0.0% | COM | 571748102 |
| RYAN | RYAN SPECIALTY GROUP HLDGS I | 233,344 | $12 | 0.8% | $54.85 | 0.0% | CL A | 78351F107 |
| IRT | INDEPENDENCE RLTY TR INC | 654,300 | $11 | 0.7% | $0.02 | — | COM | 45378A106 |
| HUT | HUT 8 MNG CORP | 246,406 | $11 | 0.7% | $44.08 | 0.0% | COM | 44812J104 |
| BOW | BOWHEAD SPECIALTY HLDGS INC | 396,536 | $11 | 0.7% | $26.53 | 0.0% | COM SHS | 10240L102 |
| TRU | TRANSUNION | 124,200 | $11 | 0.7% | $82.11 | 0.0% | COM | 89400J107 |
| ORI | OLD REPUBLIC INTL CORP | 232,900 | $11 | 0.7% | $40.84 | 0.0% | COM | 680223104 |
| SKWD | SKYWARD SPECIALTY INS GROUP | 183,700 | $9 | 0.6% | $48.06 | 0.0% | COM | 830940102 |
| COLD | AMERICOLD RLTY TR | 702,200 | $9 | 0.6% | $0.01 | — | COM | 03064D108 |
| SIGI | SELECTIVE INSURANCE GROUP | 77,500 | $6 | 0.4% | $79.64 | 0.0% | COM | 816300107 |
| NP | NEPTUNE INS HLDGS INC | 216,746 | $6 | 0.4% | $26.30 | 0.0% | CL A | 64073B103 |
| CIFR | CIPHER MINING INC | 416,553 | $6 | 0.4% | $17.65 | 0.0% | COM | 17253J106 |
| EFX | EQUIFAX INC | 25,808 | $6 | 0.4% | $218.67 | 0.0% | COM | 294429105 |
| SCHW | THE CHARLES SCHWAB CORPORATI | 43,100 | $4 | 0.3% | $94.74 | 0.0% | COM | 808513105 |
| KKR | KKR & CO INC | 31,800 | $4 | 0.3% | $124.29 | 0.0% | COM | 48251W104 |
| CPAY | CORPAY INC | 10,015 | $3 | 0.2% | $290.32 | 0.0% | COM SHS | 219948106 |
| CLSK | CLEANSPARK INC | 275,600 | $3 | 0.2% | $14.99 | 0.0% | COM NEW | 18452B209 |
| CBC | CENTRAL BANCOMPANY | 110,000 | $3 | 0.2% | $23.43 | 0.0% | COM CL A | 152413100 |
| CHYM | CHIME FINL INC | 83,200 | $2 | 0.1% | $21.24 | 0.0% | COM SHS CL A | 16935C109 |
| AIG | AMERICAN INTL GROUP INC | 226,900 | $0 | 0.0% | $79.68 | 0.0% | CALL | 026874784 |
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| V | VISA INC | 282,437 (+105.1%) | $99 (+110.7%) | 6.5% | $342.70 | -0.7% | COM CL A | 92826C839 |
| AIZ | ASSURANT INC | 390,205 (+62.6%) | $94 (+80.8%) | 6.1% | $190.54 | +16.9% | COM | 04621X108 |
| CB | CHUBB LIMITED | 200,205 (+91.4%) | $62 (+111.7%) | 4.1% | $283.42 | +3.2% | COM | H1467J104 |
| JKHY | HENRY JACK & ASSOC INC | 303,908 (+49.0%) | $55 (+82.5%) | 3.6% | $169.60 | -2.0% | COM | 426281101 |
| PCTY | PAYLOCITY HLDG CORP | 321,969 (+68.5%) | $49 (+61.4%) | 3.2% | $158.43 | -6.1% | COM | 70438V106 |
| COF | CAPITAL ONE FINL CORP | 145,043 (+80.5%) | $35 (+105.8%) | 2.3% | $210.73 | +5.4% | COM | 14040H105 |
| HST | HOST HOTELS & RESORTS INC | 1,722,643 (+117.8%) | $31 (+126.9%) | 2.0% | $16.55 | +2.3% | COM | 44107P104 |
| AON | AON PLC | 189,000 (+34.4%) | $67 (+33.0%) | 4.4% | $363.76 | -4.0% | SHS CL A | G0403H108 |
| VCIC | VINE HILL CAP INVT CORP | 1,586,294 (+507.2%) | $17 (+510.6%) | 1.1% | $10.87 | +0.7% | ORD SHS CL A | G93Y09107 |
| MCO | MOODYS CORP | 127,508 (+12.2%) | $65 (+20.3%) | 4.3% | $469.40 | +3.8% | COM | 615369105 |
| AFRM | AFFIRM HLDGS INC | 265,072 (+117.1%) | $20 (+121.1%) | 1.3% | $66.93 | +7.5% | COM CL A | 00827B106 |
| UNM | UNUM GROUP | 362,600 (+47.4%) | $28 (+46.9%) | 1.8% | $75.59 | +1.2% | COM | 91529Y106 |
| MKTX | MARKETAXESS HOLDINGS INC | 80,563 (+114.8%) | $15 (+123.5%) | 1.0% | $180.65 | -6.2% | COM | 57060D108 |
| TRNO | TERRENO RLTY CORP | 577,693 (+25.9%) | $34 (+30.3%) | 2.2% | $0.06 | — | COM | 88146M101 |
| TPG | TPG INC | 747,436 (+3.5%) | $48 (+15.0%) | 3.1% | $59.03 | -0.0% | COM CL A | 872657101 |
| MAA | MID AMER APT CMNTYS INC | 153,133 (+40.5%) | $21 (+39.7%) | 1.4% | $139.87 | -4.9% | COM | 59522J103 |
| LNC | LINCOLN NATL CORP IND | 306,080 (+54.6%) | $14 (+70.8%) | 0.9% | $38.99 | +5.6% | COM | 534187109 |
| GLPI | GAMING & LEISURE PPTYS INC | 397,300 (+52.7%) | $18 (+46.4%) | 1.2% | $0.05 | — | COM | 36467J108 |
| WULF | TERAWULF INC | 720,000 (+148.5%) | $8 (+150.1%) | 0.5% | $11.09 | +20.9% | COM | 88080T104 |
| ENSG | ENSIGN GROUP INC | 70,980 (+65.6%) | $12 (+67.0%) | 0.8% | $149.99 | +19.7% | COM | 29358P101 |
| THG | HANOVER INS GROUP INC | 70,889 (+54.1%) | $13 (+55.0%) | 0.8% | $172.19 | +4.0% | COM | 410867105 |
| BX | BLACKSTONE GROUP LP/THE | 132,600 (+30.3%) | $20 (+17.5%) | 1.3% | $165.28 | -8.4% | COM | 09260D107 |
| DRH | DIAMONDROCK HOSPITALITY CO | 421,122 (+65.3%) | $4 (+86.0%) | 0.2% | $0.01 | — | COM | 252784301 |
| TWFG | TWFG INC | 169,065 (+14.6%) | $5 (+20.2%) | 0.3% | $26.30 | +3.3% | COM CL A | 87318A101 |
| HGTY | HAGERTY INC | 202,012 (+15.4%) | $3 (+28.9%) | 0.2% | $11.27 | +10.8% | CL A COM | 405166109 |
| QNST | QUINSTREET INC | 613,998 (+14.8%) | $9 (+6.6%) | 0.6% | $15.69 | -8.1% | COM | 74874Q100 |
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| IRM | IRON MTN INC DEL | 286,900 | $29 | 1.9% | $91.94 | +0.9% | — | 46284V101 |
| MET | METLIFE INC | 335,600 | $28 | 1.8% | $77.91 | +1.3% | — | 59156R108 |
| CINF | CINCINNATI FINL CORP | 171,895 | $27 | 1.8% | $142.10 | +13.5% | — | 172062101 |
| WPC | WP CAREY INC | 367,367 | $25 | 1.6% | $0.06 | — | — | 92936U109 |
| ALL | ALLSTATE CORP | 113,183 | $24 | 1.6% | $200.20 | +1.9% | — | 020002101 |
| WTW | WILLIS TOWERS WATSON PLC LTD | 61,300 | $21 | 1.4% | $322.11 | +1.4% | — | G96629103 |
| MAR | MARRIOTT INTL INC NEW | 74,000 | $19 | 1.3% | $253.14 | +12.7% | — | 571903202 |
| MA | MASTERCARD INCORPORATED | 31,077 | $18 | 1.2% | $437.92 | +27.6% | — | 57636Q104 |
| RNR | RENAISSANCERE HOLDINGS LTD | 66,100 | $17 | 1.1% | $242.27 | +8.6% | — | G7496G103 |
| SMA | SMARTSTOP SELF STORAG REIT I | 413,127 | $16 | 1.0% | $0.04 | — | — | 83192D402 |
| RGA | REINSURANCE GRP OF AMERICA I | 76,303 | $15 | 1.0% | $195.23 | -0.9% | — | 759351604 |
| HIG | HARTFORD FINL SVCS GROUP INC | 106,700 | $14 | 0.9% | $127.36 | +3.3% | — | 416515104 |
| SKT | TANGER INC | 415,023 | $14 | 0.9% | $0.03 | — | — | 875465106 |
| CSGP | COSTAR GROUP INC | 149,319 | $13 | 0.8% | $76.18 | -7.0% | — | 22160N109 |
| BR | BROADRIDGE FINANCIAL SOLUTIO | 49,810 | $12 | 0.8% | $247.24 | -8.1% | — | 11133T103 |
| CRBG | COREBRIDGE FINL INC | 356,088 | $11 | 0.7% | $33.71 | -9.4% | — | 21871X109 |
| BLK | BLACKROCK INC | 8,341 | $10 | 0.6% | $933.09 | +16.8% | — | 09290D101 |
| AMT | AMERICAN TOWER CORP NEW | 43,700 | $8 | 0.5% | $190.48 | -5.3% | — | 03027X100 |
| MIAX | MIAMI INTL HLDGS INC | 206,897 | $8 | 0.5% | $36.58 | +21.9% | — | 59356Q108 |
| CTAS | CINTAS CORP | 38,800 | $8 | 0.5% | $212.83 | -11.6% | — | 172908105 |
| OWL | BLUE OWL CAPITAL INC | 407,100 | $7 | 0.5% | $19.02 | -17.8% | — | 09581B103 |
| WRB | BERKLEY W R CORP | 74,227 | $6 | 0.4% | $70.00 | +3.9% | — | 084423102 |
| COIN | COINBASE GLOBAL INC | 16,200 | $5 | 0.4% | $339.07 | -12.1% | — | 19260Q107 |
| BGC | BGC GROUP INC | 552,432 | $5 | 0.3% | $9.20 | -2.2% | — | 088929104 |
| AFL | AFLAC INC | 19,359 | $2 | 0.1% | $104.07 | +5.6% | — | 001055102 |
| BILL | BILL HOLDINGS INC | 37,200 | $2 | 0.1% | $46.44 | +10.6% | — | 090043100 |
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| AFG | AMERICAN FINL GROUP INC OHIO | 38,990 (-81.8%) | $5 (-83.0%) | 0.3% | $125.63 | +6.3% | COM | 025932104 |
| VRSK | VERISK ANALYTICS INC | 32,476 (-70.8%) | $7 (-74.0%) | 0.5% | $273.52 | -17.6% | COM | 92345Y106 |
| ELS | EQUITY LIFESTYLE PPTYS INC | 81,889 (-79.9%) | $5 (-79.9%) | 0.3% | $0.06 | — | COM | 29472R108 |
| XYZ | BLOCK INC | 33,200 (-86.5%) | $2 (-87.8%) | 0.1% | $58.18 | +18.6% | CL A | 852234103 |
| CBOE | CBOE HOLDINGS INC | 143,141 (-30.8%) | $36 (-29.2%) | 2.4% | $224.43 | +10.8% | COM | 12503M108 |
| VTR | VENTAS INC | 395,722 (-31.0%) | $31 (-23.7%) | 2.0% | $66.33 | +13.0% | COM | 92276F100 |
| IREN | IREN LIMITED | 309,088 (-22.2%) | $12 (-37.4%) | 0.8% | $18.71 | +175.7% | ORDINARY SHARES | Q4982L109 |
| SHOP | SHOPIFY INC | 13,461 (-72.9%) | $2 (-70.6%) | 0.1% | $135.57 | +18.4% | CL A | 82509L107 |
| CTRE | CARETRUST REIT INC | 461,836 (-25.1%) | $17 (-21.9%) | 1.1% | $0.03 | — | COM | 14174T107 |
| SYF | SYNCHRONY FINANCIAL | 130,489 (-40.2%) | $11 (-29.8%) | 0.7% | $72.04 | +5.9% | COM | 87165B103 |
| LINE | LINEAGE INC | 125,000 (-33.9%) | $4 (-40.1%) | 0.3% | $0.04 | — | COM | 53566V106 |
| APLD | APPLIED DIGITAL CORP | 100,800 (-37.2%) | $2 (-32.9%) | 0.2% | $14.81 | +94.5% | COM NEW | 038169207 |
| AII | AMERICAN INTEGRITY INS GROUP | 161,768 (-7.6%) | $3 (-13.7%) | 0.2% | $16.87 | +31.8% | COM | 026948109 |