CIK 1105838
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 |
|---|---|---|
| Marine | 40.64% | 4 |
| Real Estate Management & Development | 8.67% | 4 |
| Specialty Retail | 8.31% | 3 |
| Paper & Forest Products | 7.98% | 5 |
| Chemicals | 7.57% | 2 |
| Oil, Gas & Consumable Fuels | 5.10% | 8 |
| Metals & Mining | 4.02% | 7 |
| Technology Hardware & Equipment | 2.88% | 2 |
| Unclassified | 2.78% | 5 |
| Capital Markets | 2.28% | 2 |
| Automobiles & Components | 1.86% | 2 |
| Hotels, Restaurants & Leisure | 1.40% | 2 |
| Machinery | 1.34% | 2 |
| Health Care Providers & Services | 1.05% | 1 |
| Semiconductors & Semiconductor Equipment | 1.00% | 2 |
| Construction Materials | 0.81% | 1 |
| Distributors | 0.67% | 1 |
| Media & Entertainment | 0.57% | 1 |
| Commercial Services & Supplies | 0.32% | 1 |
| Software & IT Services | 0.31% | 1 |
| Construction & Engineering | 0.25% | 1 |
| Professional Services | 0.15% | 1 |
| Food Products | 0.05% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | TDW | TIDEWATER INC | Industrials | 38.05% |
| 2 | BLDR | Builders FirstSource, Inc. | Consumer Discretionary | 6.72% |
| 3 | FPH | Five Point Holdings, LLC | Real Estate | 5.26% |
| 4 | LXU | LSB INDUSTRIES, INC. | Materials | 4.93% |
| 5 | WFG | WEST FRASER TIMBER CO., LTD | Materials | 3.01% |
| 6 | WLK | WESTLAKE CORP | Materials | 2.64% |
| 7 | CNQ | CANADIAN NATURAL RESOURCES LTD | Energy | 2.46% |
| 8 | CVCO | CAVCO INDUSTRIES, INC. | Materials | 2.45% |
| 9 | AXR | AMREP CORP. | Real Estate | 2.29% |
| 10 | AER | AERCAP HOLDINGS NV | Unclassified | 2.28% |
54/59 names classified · sector 97.2% of weight · industry 97.2% · mkt cap 81.1%; 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: 97.2% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 74.7% of book weight (32/59 names) · unclassified 25.3%: FPH, WFG, CNQ, AER, MT, NVGS, MRP, RDNT, SDRL, SNDK +17 more. 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 | TDWTIDEWATER INC NEW | 2,920,689 | $244M | 38.1% | HOLD |
| 2 | BLDRBUILDERS FIRSTSOURCE INC | 523,597 | $43M | 6.7% | ADD 23% |
| 3 | FPHFIVE POINT HOLDINGS LLC | 6,964,320 | $34M | 5.3% | HOLD |
| 4 | LXULSB INDS INC | 2,120,099 | $32M | 4.9% | TRIM −36% |
| 5 | WFGWEST FRASER TIMBER CO LTD | 295,880 | $19M | 3.0% | HOLD |
| 6 | WLKWESTLAKE CORPORATION | 145,004 | $17M | 2.6% | TRIM −43% |
| 7 | CNQCANADIAN NAT RES LTD | 324,066 | $16M | 2.5% | HOLD |
| 8 | CVCOCAVCO INDS INC DEL | 32,388 | $16M | 2.4% | ADD 2% |
| 9 | AXRAMREP CORP | 521,765 | $15M | 2.3% | HOLD |
| 10 | AERAERCAP HOLDINGS NV | 106,494 | $15M | 2.3% | HOLD |
| 11 | JEFJEFFERIES FINL GROUP INC | 327,969 | $14M | 2.1% | HOLD |
| 12 | WDCWESTERN DIGITAL CORP | 46,544 | $13M | 2.0% | TRIM −45% |
| 13 | MTARCELORMITTAL SA LUXEMBOURG | 236,570 | $12M | 1.9% | TRIM −30% |
| 14 | NVGSNAVIGATOR HLDGS LTD | 535,531 | $10M | 1.6% | HOLD |
| 15 | IIININSTEEL INDS INC | 297,810 | $10M | 1.6% | HOLD |
| 16 | TNLTRAVEL PLUS LEISURE CO | 121,689 | $8M | 1.3% | HOLD |
| 17 | LECOLINCOLN ELEC HLDGS INC | 33,408 | $8M | 1.3% | TRIM −33% |
| 18 | ABGASBURY AUTOMOTIVE GROUP INC | 36,508 | $7M | 1.1% | ADD 79% |
| 19 | NENOBLE CORP PLC | 145,268 | $7M | 1.1% | HOLD |
| 20 | MRPMILLROSE PPTYS INC | 249,435 | $7M | 1.1% | HOLD |
| 21 | ALSNALLISON TRANSMISSION HLDGS I | 58,384 | $7M | 1.1% | HOLD |
| 22 | RDNTRADNET INC | 120,492 | $7M | 1.1% | TRIM −35% |
| 23 | SKYCHAMPION HOMES INC | 90,346 | $7M | 1.0% | ADD 29% |
| 24 | SDRLSEADRILL LTD | 131,860 | $6M | 0.9% | ADD 597% |
| 25 | SNDKSANDISK CORP | 9,256 | $6M | 0.9% | TRIM −52% |
| 26 | LPXLOUISIANA PAC CORP | 79,161 | $6M | 0.9% | HOLD |
| 27 | CSIQCANADIAN SOLAR INC | 398,070 | $6M | 0.9% | ADD 16% |
| 28 | SMHISEACOR MARINE HLDGS INC | 767,946 | $5M | 0.9% | TRIM −9% |
| 29 | TECKTECK RESOURCES LTD | 100,000 | $5M | 0.8% | HOLD |
| 30 | DANDANA INC | 151,158 | $5M | 0.8% | HOLD |
| 31 | RYZRYERSON HLDG CORP | 192,300 | $4M | 0.7% | NEW |
| 32 | LEGHLEGACY HOUSING CORP | 181,367 | $4M | 0.6% | TRIM −4% |
| 33 | SPOTSPOTIFY TECHNOLOGY S A | 7,500 | $4M | 0.6% | HOLD |
| 34 | ASOACADEMY SPORTS & OUTDOORS IN | 53,430 | $3M | 0.5% | HOLD |
| 35 | UHAL.BU HAUL HOLDING COMPANY | 47,000 | $2M | 0.3% | ADD 18% |
| 36 | SESEA LTD | 25,000 | $2M | 0.3% | ADD 67% |
| 37 | CACICACI INTL INC | 3,600 | $2M | 0.3% | HOLD |
| 38 | RNGRRANGER ENERGY SVCS INC | 100,000 | $2M | 0.3% | HOLD |
| 39 | PLPCPREFORMED LINE PRODS CO | 5,935 | $2M | 0.3% | HOLD |
| 40 | HBMHUDBAY MINERALS INC | 55,000 | $1M | 0.2% | HOLD |
| 41 | MSMORGAN STANLEY | 6,500 | $1M | 0.2% | HOLD |
| 42 | PBRPETROLEO BRASILEIRO S A | 50,000 | $1M | 0.2% | HOLD |
| 43 | AGIALAMOS GOLD INC NEW | 21,500 | $955,245 | 0.1% | TRIM −7% |
| 44 | GIBCGI INC | 13,000 | $950,300 | 0.1% | TRIM −41% |
| 45 | AEISADVANCED ENERGY INDS | 2,725 | $877,913 | 0.1% | HOLD |
| 46 | AMRZAMRIZE LTD | 15,000 | $840,300 | 0.1% | ADD 36% |
| 47 | AEMAGNICO EAGLE MINES LTD | 3,813 | $773,963 | 0.1% | TRIM −22% |
| 48 | INSWINTERNATIONAL SEAWAYS INC | 10,000 | $728,800 | 0.1% | HOLD |
| 49 | HGVHILTON GRAND VACATIONS INC | 15,010 | $587,191 | 0.1% | HOLD |
| 50 | VALVALARIS LTD | 4,244 | $416,082 | 0.1% | TRIM −92% |
| 51 | SLBSCHLUMBERGER LTD | 8,000 | $411,120 | 0.1% | HOLD |
| 52 | LZMLIFEZONE METALS LIMITED | 100,000 | $336,000 | 0.1% | NEW |
| 53 | SENEASENECA FOODS CORP NEW | 1,982 | $299,520 | 0.0% | HOLD |
| 54 | CMICUMMINS INC | 550 | $295,911 | 0.0% | HOLD |
| 55 | STRSSTRATUS PPTYS INC | 8,100 | $247,212 | 0.0% | NEW |
| 56 | ORLAORLA MNG LTD NEW | 15,000 | $241,950 | 0.0% | HOLD |
| 57 | CETCENTRAL SECS CORP | 4,376 | $217,312 | 0.0% | HOLD |
| 58 | DMLPDORCHESTER MINERALS LP | 7,525 | $203,928 | 0.0% | NEW |
| 59 | MILLROSE PPTYS INC | 1,500 | $42,000 | 0.0% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| TDWTIDEWATER INC NEW | 2.6M | 2.9M | 3.0M | 3.0M | 3.0M | 2.9M | $244M |
| BLDRBUILDERS FIRSTSOURCE INC | 394K | 414K | 416K | 414K | 427K | 524K | $43M |
| FPHFIVE POINT HOLDINGS LLC | 6.8M | 6.8M | 6.8M | 7.0M | 7.0M | 7.0M | $34M |
| LXULSB INDS INC | 4.3M | 4.3M | 4.3M | 4.3M | 3.3M | 2.1M | $32M |
| WFGWEST FRASER TIMBER CO LTD | 331K | 297K | 295K | 293K | 296K | 296K | $19M |
| WLKWESTLAKE CORPORATION | 164K | 165K | 183K | 182K | 256K | 145K | $17M |
| CNQCANADIAN NAT RES LTD | 338K | 336K | 332K | 326K | 326K | 324K | $16M |
| CVCOCAVCO INDS INC DEL | 41K | 40K | 36K | 32K | 32K | 32K | $16M |
| AXRAMREP CORP | 501K | 524K | 519K | 517K | 522K | 522K | $15M |
| AERAERCAP HOLDINGS NV | 110K | 109K | 107K | 106K | 107K | 106K | $15M |
| JEFJEFFERIES FINL GROUP INC | 408K | 344K | 342K | 333K | 329K | 328K | $14M |
| WDCWESTERN DIGITAL CORP | 84K | 87K | 86K | 86K | 85K | 47K | $13M |
| MTARCELORMITTAL SA LUXEMBOURG | 368K | 345K | 341K | 339K | 339K | 237K | $12M |
| NVGSNAVIGATOR HLDGS LTD | 759K | 736K | 736K | 736K | 536K | 536K | $10M |
| IIININSTEEL INDS INC | 299K | 302K | 299K | 297K | 299K | 298K | $10M |
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.
Where this firm's principals came from and which firms its alumni went on to found.
