CIK 1042537
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Paper & Forest Products | 32.94% | 2 |
| Metals & Mining | 13.49% | 1 |
| Health Care Providers & Services | 13.45% | 1 |
| Specialty Retail | 13.32% | 1 |
| Transportation Infrastructure | 11.61% | 1 |
| Software | 8.55% | 1 |
| Unclassified | 4.29% | 1 |
| Real Estate Management & Development | 2.36% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | MAGN | Magnera Corp | Materials | 21.86% |
| 2 | ASTL | Algoma Steel Group Inc. | Materials | 13.49% |
| 3 | AVAH | Aveanna Healthcare Holdings, Inc. | Health Care | 13.45% |
| 4 | BLDR | Builders FirstSource, Inc. | Consumer Discretionary | 13.32% |
| 5 | FWRD | FORWARD AIR CORP | Industrials | 11.61% |
| 6 | LPX | LOUISIANA-PACIFIC CORP | Materials | 11.07% |
| 7 | TTAN | ServiceTitan, Inc. | Information Technology | 8.55% |
| 8 | ALVO | ALVOTECH | Unclassified | 4.29% |
| 9 | SRG | Seritage Growth Properties | Real Estate | 2.36% |
8/9 names classified · sector 95.7% of weight · industry 95.7% · mkt cap 95.7%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 95.7% of the book is sector-classified (unclassified names shown, never dropped).
Only 49% of book weight classified — the grid is NOT representative of the whole book.
Classified: 49.5% of book weight (4/9 names) · unclassified 50.5%: MAGN, ASTL, TTAN, ALVO, SRG. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | MAGNMAGNERA CORP | 2,425,818 | $23M | 21.9% | TRIM −6% |
| 2 | ASTLALGOMA STL GROUP INC | 3,446,503 | $14M | 13.5% | HOLD |
| 3 | AVAHAVEANNA HEALTHCARE HLDGS INC | 2,203,362 | $14M | 13.4% | TRIM −21% |
| 4 | BLDRBUILDERS FIRSTSOURCE INC | 170,671 | $14M | 13.3% | HOLD |
| 5 | FWRDFORWARD AIR CORP | 733,261 | $12M | 11.6% | TRIM −70% |
| 6 | LPXLOUISIANA PAC CORP | 160,600 | $12M | 11.1% | NEW |
| 7 | TTANSERVICETITAN INC | 142,198 | $9M | 8.6% | TRIM −23% |
| 8 | ALVOALVOTECH | 1,318,534 | $5M | 4.3% | HOLD |
| 9 | SRGSERITAGE GROWTH PPTYS | 885,208 | $2M | 2.4% | TRIM −5% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| MAGNMAGNERA CORP | 1.4M | 1.9M | 2.8M | 3.2M | 2.6M | 2.4M | $23M |
| ASTLALGOMA STL GROUP INC | 1.5M | 2.2M | 2.3M | 2.7M | 3.4M | 3.4M | $14M |
| AVAHAVEANNA HEALTHCARE HLDGS INC | 7.7M | 7.6M | 8.0M | 5.9M | 2.8M | 2.2M | $14M |
| BLDRBUILDERS FIRSTSOURCE INC | — | — | — | 67K | 171K | 171K | $14M |
| FWRDFORWARD AIR CORP | — | — | 2.9M | 2.8M | 2.4M | 733K | $12M |
| LPXLOUISIANA PAC CORP | — | — | — | — | — | 161K | $12M |
| TTANSERVICETITAN INC | — | — | — | — | 185K | 142K | $9M |
| ALVOALVOTECH | 1.3M | 1.3M | 1.3M | 1.3M | 1.3M | 1.3M | $5M |
| SRGSERITAGE GROWTH PPTYS | 931K | 931K | 931K | 931K | 931K | 885K | $2M |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
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