CIK 1613158
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 |
|---|---|---|
| Unclassified | 72.80% | 9 |
| Banks | 22.49% | 20 |
| Insurance | 1.75% | 1 |
| Real Estate Management & Development | 1.57% | 1 |
| Equity Real Estate Investment Trusts (REITs) | 1.39% | 2 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | BKLN | INVESCO EXCH TRADED FD TR II | Unclassified | 43.69% |
| 2 | AOHY | ANGEL OAK FUNDS TRUST | Unclassified | 8.39% |
| 3 | MBS | ANGEL OAK FUNDS TRUST | Unclassified | 7.07% |
| 4 | USHY | ISHARES TR | Unclassified | 6.51% |
| 5 | PNBK | PATRIOT NATIONAL BANCORP INC | Financials | 4.54% |
| 6 | TRBF | ANGEL OAK TOTAL RETURN ETF | Unclassified | 3.80% |
| 7 | KINS | KINGSTONE COMPANIES, INC. | Financials | 1.75% |
| 8 | UMBF | UMB FINANCIAL CORP | Financials | 1.70% |
| 9 | MTB | M&T BANK CORP | Financials | 1.70% |
| 10 | FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | Financials | 1.57% |
25/33 names classified · sector 28.8% of weight · industry 27.2% · mkt cap 27.2%; 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: 28.8% of the book is sector-classified (unclassified names shown, never dropped).
Only 26% of book weight classified — the grid is NOT representative of the whole book.
Classified: 25.8% of book weight (21/33 names) · unclassified 74.2%: BKLN, AOHY, MBS, USHY, TRBF, PFBC, LQD, PNFP, , FLG +2 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 | BKLNINVESCO EXCH TRADED FD TR II | 1,926,396 | $39M | 43.7% | NEW |
| 2 | AOHYANGEL OAK FUNDS TRUST | 690,973 | $8M | 8.4% | TRIM −29% |
| 3 | MBSANGEL OAK FUNDS TRUST | 734,718 | $6M | 7.1% | TRIM −31% |
| 4 | USHYISHARES TR | 158,936 | $6M | 6.5% | TRIM −56% |
| 5 | PNBKPATRIOT NATL BANCORP INC | 3,166,259 | $4M | 4.5% | TRIM −4% |
| 6 | TRBFANGEL OAK TOTAL RETURN ETF | 69,100 | $3M | 3.8% | ADD 122% |
| 7 | KINSKINGSTONE COS INC | 108,249 | $2M | 1.8% | HOLD |
| 8 | UMBFUMB FINL CORP | 13,600 | $2M | 1.7% | HOLD |
| 9 | MTBM & T BK CORP | 7,400 | $2M | 1.7% | ADD 7% |
| 10 | FCNCAFIRST CTZNS BANCSHARES INC D | 750 | $1M | 1.6% | TRIM −25% |
| 11 | EFCELLINGTON FINANCIAL INC | 119,250 | $1M | 1.6% | HOLD |
| 12 | PFBCPREFERRED BK LOS ANGELES CA | 15,500 | $1M | 1.6% | ADD 210% |
| 13 | GCBCGREENE CNTY BANCORP INC | 61,000 | $1M | 1.5% | HOLD |
| 14 | PLBCPLUMAS BANCORP | 25,700 | $1M | 1.4% | TRIM −8% |
| 15 | CCITIGROUP INC | 11,000 | $1M | 1.4% | HOLD |
| 16 | PMTPENNYMAC MTG INVT TR | 81,182 | $946,582 | 1.1% | HOLD |
| 17 | PBPROSPERITY BANCSHARES INC | 13,900 | $933,802 | 1.0% | HOLD |
| 18 | BSVNBANK7 CORP | 22,000 | $877,360 | 1.0% | HOLD |
| 19 | FUNCFIRST UTD CORP | 23,700 | $868,368 | 1.0% | HOLD |
| 20 | LQDISHARES TR | 6,871 | $748,870 | 0.8% | NEW |
| 21 | SSBSOUTHSTATE BK CORP | 8,000 | $740,160 | 0.8% | HOLD |
| 22 | COLBCOLUMBIA BKG SYS INC | 25,000 | $685,750 | 0.8% | HOLD |
| 23 | PNFPPINNACLE FINL PARTNERS INC | 7,000 | $602,980 | 0.7% | NEW |
| 24 | SFBSSERVISFIRST BANCSHARES INC | 8,000 | $582,640 | 0.6% | NEW |
| 25 | FSBWFS BANCORP INC | 15,000 | $578,850 | 0.6% | HOLD |
| 26 | EGBNEAGLE BANCORP INC MD | 20,000 | $497,400 | 0.6% | TRIM −38% |
| 27 | FLUSHING FINL CORP | 30,000 | $460,800 | 0.5% | HOLD |
| 28 | NICNICOLET BANKSHARES INC | 3,000 | $445,860 | 0.5% | HOLD |
| 29 | FLGFLAGSTAR BANK NATIONAL ASSOC | 30,000 | $395,100 | 0.4% | ADD 20% |
| 30 | NBNNORTHEAST BK PORTLAND ME | 3,500 | $393,295 | 0.4% | ADD 17% |
| 31 | SYBTSTOCK YDS BANCORP INC | 5,000 | $331,450 | 0.4% | NEW |
| 32 | AGNCAGNC Investment Corp | 30,500 | $305,915 | 0.3% | HOLD |
| 33 | AROWARROW FINL CORP | 8,000 | $268,560 | 0.3% | TRIM −27% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| BKLNINVESCO EXCH TRADED FD TR II | — | — | — | — | — | 1.9M | $39M |
| AOHYANGEL OAK FUNDS TRUST | 2.4M | 2.1M | 1.7M | 1.4M | 971K | 691K | $8M |
| MBSANGEL OAK FUNDS TRUST | 2.6M | 2.0M | 1.4M | 1.8M | 1.1M | 735K | $6M |
| USHYISHARES TR | 54K | 54K | 49K | 1.9M | 362K | 159K | $6M |
| PNBKPATRIOT NATL BANCORP INC | — | 3.3M | 1.2M | 150K | 3.3M | 3.2M | $4M |
| TRBFANGEL OAK TOTAL RETURN ETF | — | — | — | — | 31K | 69K | $3M |
| KINSKINGSTONE COS INC | 244K | 222K | 137K | 108K | 108K | 108K | $2M |
| UMBFUMB FINL CORP | — | 10K | 14K | 14K | 14K | 14K | $2M |
| MTBM & T BK CORP | — | 4K | 4K | 4K | 7K | 7K | $2M |
| FCNCAFIRST CTZNS BANCSHARES INC D | 390 | 590 | 775 | 805 | 1K | 750 | $1M |
| EFCELLINGTON FINANCIAL INC | 119K | 119K | 119K | 119K | 119K | 119K | $1M |
| PFBCPREFERRED BK LOS ANGELES CA | — | — | — | 5K | 5K | 16K | $1M |
| GCBCGREENE CNTY BANCORP INC | 8K | 42K | 57K | 58K | 60K | 61K | $1M |
| PLBCPLUMAS BANCORP | 22K | 22K | 27K | 28K | 28K | 26K | $1M |
| CCITIGROUP INC | — | 14K | 11K | 11K | 11K | 11K | $1M |
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.
