CIK 1135778
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 |
|---|---|---|
| Oil, Gas & Consumable Fuels | 19.61% | 3 |
| Banks | 8.47% | 5 |
| Media & Publishing | 8.20% | 2 |
| Unclassified | 7.71% | 2 |
| Insurance | 7.51% | 2 |
| Commercial Services & Supplies | 6.23% | 6 |
| Media & Entertainment | 6.08% | 1 |
| Equity Real Estate Investment Trusts (REITs) | 3.90% | 2 |
| Pharmaceuticals & Biotechnology | 3.68% | 2 |
| Road & Rail | 3.06% | 1 |
| Hotels, Restaurants & Leisure | 3.05% | 2 |
| Diversified Telecommunication Services | 2.95% | 2 |
| Technology Hardware & Equipment | 2.73% | 1 |
| Specialty Retail | 2.71% | 6 |
| Automobiles & Components | 2.16% | 1 |
| Paper & Forest Products | 2.14% | 1 |
| Chemicals | 1.63% | 2 |
| Distributors | 1.41% | 3 |
| Coal & Consumable Fuels | 1.34% | 1 |
| Real Estate Management & Development | 1.32% | 1 |
| Agricultural Products | 1.28% | 1 |
| Utilities | 1.15% | 1 |
| Capital Markets | 0.51% | 1 |
| Diversified Consumer Services | 0.39% | 1 |
| Household Durables | 0.39% | 2 |
| Software & IT Services | 0.29% | 1 |
| Machinery | 0.06% | 1 |
| Construction & Engineering | 0.06% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | NBR | NABORS INDUSTRIES LTD | Energy | 9.98% |
| 2 | CRGY | Crescent Energy Co | Energy | 7.06% |
| 3 | GTN | GRAY MEDIA, INC | Communication Services | 6.08% |
| 4 | LNC | LINCOLN NATIONAL CORP | Financials | 5.29% |
| 5 | SPY | STATE STR SPDR S&P 500 ETF T | Unclassified | 5.10% |
| 6 | QUAD | Quad/Graphics, Inc. | Communication Services | 4.57% |
| 7 | BFH | BREAD FINANCIAL HOLDINGS, INC. | Financials | 3.79% |
| 8 | TDAY | USA TODAY Co., Inc. | Communication Services | 3.62% |
| 9 | CNDT | CONDUENT Inc | Industrials | 3.35% |
| 10 | UPS | UNITED PARCEL SERVICE INC | Industrials | 3.06% |
53/55 names classified · sector 92.3% of weight · industry 92.3% · mkt cap 92.3%; 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: 92.3% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 62.1% of book weight (35/55 names) · unclassified 37.9%: CRGY, SPY, CNDT, FOSL, ITRN, VTRS, JXN, DCH, JELD, MSTR +10 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 | NBRNABORS INDUSTRIES LTD | 444,430 | $38M | 10.0% | TRIM −26% |
| 2 | CRGYCRESCENT ENERGY COMPANY | 2,003,132 | $27M | 7.1% | NEW |
| 3 | GTNGRAY MEDIA INC | 5,370,100 | $23M | 6.1% | ADD 35% |
| 4 | LNCLINCOLN NATL CORP IND | 570,690 | $20M | 5.3% | ADD 13% |
| 5 | SPYSTATE STR SPDR S&P 500 ETF T | 30,044 | $20M | 5.1% | NEW |
| 6 | QUADQUAD / GRAPHICS INC | 2,651,039 | $18M | 4.6% | TRIM −3% |
| 7 | BFHBREAD FINANCIAL HOLDINGS INC | 193,697 | $15M | 3.8% | TRIM −4% |
| 8 | TDAYUSA TODAY CO INC | 1,969,280 | $14M | 3.6% | TRIM −42% |
| 9 | CNDTCONDUENT INC | 10,023,930 | $13M | 3.3% | ADD 80% |
| 10 | UPSUNITED PARCEL SERVICE INC | 119,108 | $12M | 3.1% | ADD 38% |
| 11 | BLMNBLOOMIN BRANDS INC | 2,036,734 | $11M | 2.9% | NEW |
| 12 | FOSLFOSSIL GROUP INC | 2,425,185 | $10M | 2.7% | TRIM −24% |
| 13 | CTOCTO RLTY GROWTH INC NEW | 556,053 | $10M | 2.7% | ADD 28% |
| 14 | ITRNITURAN LOCATION AND CONTROL | 203,900 | $10M | 2.6% | TRIM −5% |
| 15 | VTRSVIATRIS INC | 731,676 | $10M | 2.6% | ADD 18% |
| 16 | CHRDCHORD ENERGY CORPORATION | 69,330 | $10M | 2.6% | ADD 20% |
| 17 | JXNJACKSON FINANCIAL INC | 80,680 | $9M | 2.2% | TRIM −6% |
| 18 | VZVERIZON COMMUNICATIONS INC | 168,000 | $8M | 2.2% | TRIM −15% |
| 19 | DCHAMERICAN AXLE & MFG HLDGS IN | 1,395,905 | $8M | 2.2% | TRIM −20% |
| 20 | JELDJELD-WEN HLDG INC | 6,619,885 | $8M | 2.1% | ADD 60% |
| 21 | MSTRSTRATEGY INC | 52,058 | $6M | 1.7% | ADD 106% |
| 22 | ARLPALLIANCE RESOURCE PARTNERS L | 185,256 | $5M | 1.3% | ADD 40% |
| 23 | MRPMILLROSE PPTYS INC | 180,800 | $5M | 1.3% | ADD 118% |
| 24 | CALMCal-Maine Foods, Inc. | 62,000 | $5M | 1.3% | HOLD |
| 25 | ABRARBOR REALTY TRUST INC | 604,000 | $5M | 1.2% | NEW |
| 26 | OMFONEMAIN HLDGS INC | 82,941 | $4M | 1.2% | HOLD |
| 27 | UGIUGI CORP NEW | 121,000 | $4M | 1.2% | TRIM −54% |
| 28 | BMYBRISTOL-MYERS SQUIBB CO | 69,500 | $4M | 1.1% | TRIM −36% |
| 29 | WALWESTERN ALLIANCE BANCORP | 55,252 | $4M | 1.0% | TRIM −14% |
| 30 | BBWBUILD-A-BEAR WORKSHOP INC | 103,734 | $4M | 1.0% | ADD 33% |
| 31 | MELIMERCADOLIBRE INC | 2,215 | $4M | 1.0% | NEW |
| 32 | CROXCROCS INC | 38,548 | $3M | 0.8% | NEW |
| 33 | FIGRFIGURE TECHNOLOGY SOLUTIO | 91,009 | $3M | 0.8% | NEW |
| 34 | LYBLYONDELLBASELL INDUSTRIES N | 38,000 | $3M | 0.8% | HOLD |
| 35 | ZDZIFF DAVIS INC | 68,058 | $3M | 0.7% | NEW |
| 36 | BCCBOISE CASCADE CO DEL | 37,000 | $3M | 0.7% | HOLD |
| 37 | REZIRESIDEO TECHNOLOGIES INC | 69,762 | $2M | 0.6% | NEW |
| 38 | CTRNCITI TRENDS INC | 53,763 | $2M | 0.6% | NEW |
| 39 | UPBDUPBOUND GROUP INC | 120,000 | $2M | 0.6% | ADD 71% |
| 40 | ABNBAIRBNB INC | 16,134 | $2M | 0.5% | NEW |
| 41 | CGCARLYLE GROUP INC/THE | 40,000 | $2M | 0.5% | HOLD |
| 42 | CARTMAPLEBEAR INC | 45,557 | $2M | 0.4% | NEW |
| 43 | BLDRBUILDERS FIRSTSOURCE INC | 18,893 | $2M | 0.4% | NEW |
| 44 | PRDOPERDOCEO ED CORP | 40,395 | $2M | 0.4% | NEW |
| 45 | FOURSHIFT4 PMTS INC | 30,035 | $1M | 0.3% | NEW |
| 46 | CPNGCOUPANG INC | 62,528 | $1M | 0.3% | NEW |
| 47 | PINSPINTEREST INC | 59,990 | $1M | 0.3% | NEW |
| 48 | MBCMASTERBRAND INC | 104,854 | $871,337 | 0.2% | NEW |
| 49 | VRMVROOM INC | 58,488 | $778,475 | 0.2% | NEW |
| 50 | PTLOPORTILLOS INC | 129,323 | $684,119 | 0.2% | NEW |
| 51 | LADLITHIA MTRS INC | 2,654 | $662,757 | 0.2% | NEW |
| 52 | SNSHARKNINJA INC | 5,775 | $611,572 | 0.2% | NEW |
| 53 | UNFIUNITED NAT FOODS INC | 5,250 | $236,565 | 0.1% | TRIM −58% |
| 54 | FTITECHNIPFMC PLC | 3,170 | $219,142 | 0.1% | TRIM −58% |
| 55 | TPCTUTOR PERINI CORP | 2,795 | $215,746 | 0.1% | TRIM −59% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| NBRNABORS INDUSTRIES LTD | 281K | 389K | 624K | 673K | 603K | 444K | $38M |
| CRGYCRESCENT ENERGY COMPANY | — | — | — | — | — | 2.0M | $27M |
| GTNGRAY MEDIA INC | 3.4M | 3.6M | 3.6M | 3.6M | 4.0M | 5.4M | $23M |
| LNCLINCOLN NATL CORP IND | 494K | 519K | 569K | 521K | 505K | 571K | $20M |
| SPYSTATE STR SPDR S&P 500 ETF T | — | — | — | — | — | 30K | $20M |
| QUADQUAD / GRAPHICS INC | 2.5M | 2.6M | 2.7M | 2.6M | 2.7M | 2.7M | $18M |
| BFHBREAD FINANCIAL HOLDINGS INC | 304K | 310K | 327K | 270K | 201K | 194K | $15M |
| TDAYUSA TODAY CO INC | 2.4M | 2.7M | 3.3M | 3.4M | 3.4M | 2.0M | $14M |
| CNDTCONDUENT INC | 1.5M | 1.9M | 2.8M | 4.0M | 5.6M | 10.0M | $13M |
| UPSUNITED PARCEL SERVICE INC | — | — | — | 87K | 87K | 119K | $12M |
| BLMNBLOOMIN BRANDS INC | — | — | — | — | — | 2.0M | $11M |
| FOSLFOSSIL GROUP INC | 2.6M | 3.0M | 3.5M | 3.3M | 3.2M | 2.4M | $10M |
| CTOCTO RLTY GROWTH INC NEW | 384K | 384K | 399K | 429K | 434K | 556K | $10M |
| ITRNITURAN LOCATION AND CONTROL | — | — | — | 215K | 215K | 204K | $10M |
| VTRSVIATRIS INC | 619K | 619K | 619K | 619K | 619K | 732K | $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.
