Gimbel Daniel Scott

Key Holdings

The portfolio is dominated by California Resources Corporation (CRC), which accounts for 99.18% of the total value at approximately $331.94 million. This represents 6.24 million shares. While the position saw a nominal reduction of 0.1% (approximately $46.60 million), it remains the sole driver of the fund's exposure. The second holding, Texas Capital Bancshares Inc, is a minimal position valued at $2.75 million (33,000 shares), comprising just 0.82% of the portfolio. The vast disparity between the top two holdings—where the top holding is roughly 120 times larger than the second—underscores a "barbell" or "single-bet" approach where the manager allocates the vast majority of capital to one idea while maintaining minor allocations elsewhere.