Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$187M in Q2 2013 → $1.16B now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Sonos Inc | 21.0% | Unchanged | 18,070,762 | $244M |
| Builders Firstsource, Inc. | 20.0% | Added 24% | 2,598,218 | $232M |
| Herc Holdings Inc. | 13.8% | Trimmed 33% | 1,117,122 | $160M |
| Masterbrand Inc | 11.7% | Added 4.0% | 13,200,117 | $136M |
| WM Willscot Mobile Mini Holdings Corp. | 10.8% | Trimmed 30% | 4,351,193 | $126M |
| Mastercraft Boat Holdings Inc | 8.2% | Unchanged | 3,697,422 | $95.5M |
| Ncr Atleos Corp | 4.0% | Trimmed 30% | 1,071,128 | $46.5M |
| Accendra Health Inc | 3.9% | Unchanged | 13,100,807 | $44.8M |
| Universal Technical Institute Inc | 3.6% | Trimmed 76% | 971,440 | $41.5M |
| Fox Factory Holding Corp. | 1.6% | New | 1,102,942 | $18.7M |
| Purple Innovation Inc | 1.4% | Unchanged | 46,855,291 | $16.7M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Universal Technical Institute Inc | Trimmed | −3,000,000 | −$128M | 3.6% |
| Herc Holdings Inc. | Trimmed | −544,940 | −$78.1M | 13.8% |
| AC Atkore Inc Cmn | Exited | −947,070 | −$55.8M | — |
| WM Willscot Mobile Mini Holdings Corp. | Trimmed | −1,868,284 | −$53.9M | 10.8% |
| Builders Firstsource, Inc. | Added | +505,000 | +$45.2M | 20.0% |
| Ncr Atleos Corp | Trimmed | −453,597 | −$19.7M | 4.0% |
| Fox Factory Holding Corp. | New | +1,102,942 | +$18.7M | 1.6% |
| PB Primo Brands Corp Cmn Class A | Exited | −812,136 | −$15.3M | — |
| IH Innovage Holding Corp Cmn | Exited | −1,114,809 | −$8.94M | — |
| Masterbrand Inc | Added | +505,407 | +$5.2M | 11.7% |
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BF Builders Firstsource, Inc. Cmn | Added | +1,312,570 | +$108M | 14.1% |
| NA Ncr Atleos Corp Cmn | Trimmed | −1,046,423 | −$45.6M | 5.4% |
| SC Sonos Inc Cmn | Added | +3,140,482 | +$42.1M | 19.8% |
| WM Willscot Mobile Mini Holdings Corp. Cmn | Added | +1,107,875 | +$19.2M | 8.9% |
| MC Masterbrand Inc Cmn | Added | +1,922,096 | +$16M | 8.6% |
| IH Innovage Holding Corp Cmn | Trimmed | −1,858,112 | −$14.9M | 0.7% |
| AC Atkore Inc Cmn | Added | +137,765 | +$8.12M | 4.6% |
| PB Primo Brands Corp Cmn Class A | Trimmed | −404,225 | −$7.61M | 1.3% |
| HH Herc Holdings Inc. Cmn | Added | +73,414 | +$7.31M | 13.6% |
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BF Builders Firstsource, Inc. Cmn | New | +780,648 | +$80.3M | 6.6% |
| AC Atkore Inc Cmn | New | +809,305 | +$51.2M | 4.2% |
| HH Herc Holdings Inc. Cmn | Trimmed | −316,523 | −$47M | 19.3% |
| WM Willscot Mobile Mini Holdings Corp. Cmn | Added | +2,117,247 | +$39.9M | 7.9% |
| MC Masterbrand Inc Cmn | Added | +3,209,323 | +$35.4M | 9.7% |
| UT Universal Technical Institute Inc Cmn | Added | +1,255,173 | +$32.8M | 8.5% |
| PB Primo Brands Corp Cmn Class A | New | +1,216,361 | +$19.9M | 1.6% |
| LH Lazydays Hldgs Inc | Exited | −2,549,768 | −$5.3M | — |
| NA Ncr Atleos Corp Cmn | Trimmed | −132,602 | −$5.05M | 8.0% |
| IH Innovage Holding Corp Cmn | Trimmed | −903,298 | −$4.69M | 1.3% |
Showing the 10 largest of 11 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Gms Inc | Exited | −3,825,151 | −$416M | — |
| LH Lazydays Hldgs Inc | Trimmed | −73,943,216 | −$154M | 0.5% |
| BF Builders Firstsource, Inc. Cmn | Exited | −638,210 | −$74.5M | — |
| Gildan Activewear Inc | Exited | −1,005,018 | −$49.5M | — |
| MC Masterbrand Inc Cmn | Added | +3,259,210 | +$42.9M | 9.7% |
| NA Ncr Atleos Corp Cmn | Added | +1,082,727 | +$42.6M | 10.4% |
| WM Willscot Mobile Mini Holdings Corp. | Added | +1,972,921 | +$41.6M | 6.2% |
| Sonos Inc | Added | +1,737,176 | +$27.4M | 23.0% |
| Herc Holdings Inc. | Added | +131,568 | +$15.3M | 21.7% |
| Modivcare Inc | Exited | −4,485,175 | −$14M | — |
Showing the 10 largest of 14 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| UT Universal Technical Inst Inc | Trimmed | −2,429,488 | −$82.3M | 6.6% |
| Herc Holdings Inc. | Added | +463,614 | +$61.1M | 16.8% |
| Gms Inc | Added | +387,663 | +$42.2M | 29.9% |
| Gildan Activewear Inc | Trimmed | −779,600 | −$38.4M | 3.6% |
| NA Ncr Atleos Corp Cmn | Added | +694,721 | +$19.8M | 3.3% |
| WM Willscot Mobile Mini Holdings Corp. | Trimmed | −606,118 | −$16.6M | 2.0% |
| Sonos Inc | Added | +1,417,522 | +$15.3M | 10.2% |
| MC Masterbrand Inc Cmn | Added | +1,125,162 | +$12.3M | 3.4% |
| BF Builders Firstsource, Inc. Cmn | Added | +83,169 | +$9.7M | 5.3% |
| O& Owens & Minor, Inc. | Added | +938,356 | +$8.54M | 7.6% |
Showing the 10 largest of 12 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Herc Holdings Inc. | Added | +891,979 | +$120M | 14.7% |
| Gildan Activewear Inc | Trimmed | −2,666,300 | −$118M | 6.6% |
| Gms Inc | Added | +1,547,999 | +$113M | 21.0% |
| O& Owens & Minor, Inc. | Added | +5,838,635 | +$52.7M | 8.0% |
| UT Universal Technical Inst Inc | Trimmed | −1,704,881 | −$43.8M | 11.0% |
| MC Masterbrand Inc Cmn | New | +3,178,919 | +$41.5M | 3.5% |
| BF Builders Firstsource, Inc. Cmn | Added | +237,864 | +$29.7M | 5.8% |
| NA Ncr Atleos Corp Cmn | New | +926,302 | +$24.4M | 2.0% |
| Sonos Inc | Added | +1,041,569 | +$11.1M | 10.5% |
| WM Willscot Mobile Mini Holdings Corp. | Trimmed | −396,548 | −$11M | 3.8% |
Showing the 10 largest of 12 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Gms Inc | Added | +1,085,551 | +$92.1M | 13.2% |
| Gildan Activewear Inc | Trimmed | −1,504,700 | −$70.8M | 17.3% |
| LH Lazydays Hldgs Inc | Added | +69,970,561 | +$66.8M | 6.0% |
| UT Universal Technical Inst Inc | Trimmed | −2,483,579 | −$63.9M | 14.5% |
| Sonos Inc | Added | +3,590,782 | +$54M | 13.3% |
| RR R1 Rcm Inc | Exited | −3,504,924 | −$49.7M | — |
| BF Builders Firstsource, Inc. Cmn | New | +317,177 | +$45.3M | 3.7% |
| WM Willscot Mobile Mini Holdings Corp. | Added | +646,232 | +$21.6M | 5.6% |
| O& Owens & Minor, Inc. | Added | +1,141,483 | +$14.9M | 5.2% |
| FH Fortrea Hldgs Inc | Trimmed | −580,000 | −$10.8M | 1.9% |
Showing the 10 largest of 13 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Gildan Activewear Inc | Trimmed | −4,203,200 | −$198M | 27.1% |
| RR R1 Rcm Inc | Trimmed | −6,779,074 | −$96.1M | 4.8% |
| Herc Holdings Inc. | New | +392,128 | +$62.5M | 6.0% |
| O& Owens & Minor, Inc. | New | +3,644,481 | +$57.2M | 5.5% |
| WM Willscot Mobile Mini Holdings Corp. | Added | +884,243 | +$33.2M | 5.0% |
| Sonos Inc | Added | +2,464,824 | +$30.3M | 8.5% |
| Gms Inc | Trimmed | −140,529 | −$12.7M | 7.0% |
| Avid Bioservices, Inc. | Exited | −1,746,588 | −$12.5M | — |
| Us Foods Holding Corp. | Exited | −185,604 | −$9.83M | — |
| IH Innovage Hldg Corp | Trimmed | −527,412 | −$3.16M | 2.3% |
Showing the 10 largest of 11 changes.
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