Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (21 quarters reported)
$453M in Q4 2020 → $1.56B 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 |
|---|---|---|---|---|
| Fifth Third Bancorp | 13.8% | Unchanged | 3,802,320 | $214M |
| CB Columbia Bkg Sys Inc | 11.8% | Unchanged | 5,722,786 | $183M |
| Keycorp | 11.0% | Unchanged | 7,456,484 | $172M |
| Bankunited Inc | 11.0% | Unchanged | 3,535,282 | $171M |
| Eastern Bankshares Inc | 10.5% | Unchanged | 7,382,772 | $164M |
| FI First Intst Bancsystem Inc | 9.8% | Unchanged | 3,950,107 | $152M |
| CP Central Pac Finl Corp | 6.0% | Unchanged | 2,427,576 | $92.7M |
| Hope Bancorp Inc | 5.5% | Unchanged | 6,262,187 | $85.7M |
| CF Cvb Finl Corp | 4.9% | Added 45% | 3,397,983 | $76.6M |
| Beacon Financial Corp. | 4.4% | Added 9.8% | 2,263,000 | $68.9M |
| CF Capitol Fed Finl Inc | 3.5% | Unchanged | 6,466,059 | $55M |
| TB Trustco Bk Corp N Y | 3.1% | Unchanged | 872,744 | $47.9M |
| CF Citizens Finl Group Inc | 2.4% | Unchanged | 522,526 | $36.6M |
| BM Bank Marin Bancorp | 0.9% | Unchanged | 504,411 | $14M |
| Metrocity Bankshares Inc | 0.2% | Unchanged | 100,657 | $3.61M |
| Renasant Corp | 0.2% | Unchanged | 83,560 | $3.55M |
| Shore Bancshares Inc | 0.2% | Unchanged | 136,114 | $3.12M |
| Horizon Bancorp Inc | 0.1% | Unchanged | 91,756 | $1.83M |
| Xbp Global Holdings Inc | 0.1% | Unchanged | 787,141 | $1.83M |
| FM First Mid Ill Bancshares Inc | 0.1% | Unchanged | 33,284 | $1.6M |
| First Financial Corporation | 0.1% | Unchanged | 20,171 | $1.56M |
| PB Peoples Bancorp N C Inc | 0.1% | Unchanged | 25,284 | $1.09M |
| FU First Utd Corp | 0.1% | Unchanged | 20,804 | $918K |
| California Bancorp | 0.1% | Unchanged | 40,531 | $845K |
| EB Eagle Bancorp Mont Inc | 0.0% | Unchanged | 32,258 | $772K |
| BH Burke Herbert Finl Svcs Corp | 0.0% | Unchanged | 10,480 | $753K |
| First Northwest Bancorp | 0.0% | Unchanged | 59,772 | $646K |
| EB Eagle Bancorp Inc Md | 0.0% | Unchanged | 18,622 | $529K |
| FN First Northn Cmnty Bancorp | 0.0% | New | 15,762 | $283K |
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 |
|---|---|---|---|---|
| CF Cvb Finl Corp | Added | +1,055,239 | +$23.8M | 4.9% |
| HC Heritage Comm Corp | Exited | −1,623,446 | −$20.3M | — |
| Beacon Financial Corp. | Added | +202,000 | +$6.15M | 4.4% |
| FN First Northn Cmnty Bancorp | New | +15,762 | +$283K | — |
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Comerica Inc | Exited | −2,037,358 | −$177M | — |
| Fifth Third Bancorp | New | +3,802,320 | +$177M | 13.1% |
| CF Citizens Finl Group Inc | Trimmed | −659,333 | −$39.5M | 2.3% |
| Hope Bancorp Inc | Added | +3,266,015 | +$36.5M | 5.2% |
| CF Cvb Finl Corp | Added | +118,772 | +$2.3M | 3.4% |
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Bankunited Inc | Added | +2,598,382 | +$116M | 11.9% |
| Keycorp | Added | +4,152,484 | +$85.7M | 11.6% |
| Beacon Financial Corp. | New | +2,061,000 | +$54.3M | 4.1% |
| CF Citizens Finl Group Inc | Trimmed | −904,429 | −$52.8M | 5.2% |
| CF Cvb Finl Corp | Added | +2,211,005 | +$41.1M | 3.1% |
| Hope Bancorp Inc | New | +2,996,172 | +$32.8M | 2.5% |
| Comerica Inc | Trimmed | −253,050 | −$22M | 13.3% |
| Eastern Bankshares Inc | Added | +974,000 | +$18M | 10.2% |
| Xbp Global Holdings Inc | Exited | −7,871,416 | −$6.35M | — |
| Xbp Global Holdings Inc | New | +787,141 | +$5.36M | 0.4% |
Showing the 10 largest of 13 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Comerica Inc | New | +2,290,408 | +$157M | 16.6% |
| Pacific Premier Bancorp | Exited | −2,340,149 | −$49.4M | — |
| CP Central Pac Finl Corp | Added | +1,183,399 | +$35.9M | 7.3% |
| Bankunited Inc | New | +936,900 | +$35.8M | 3.8% |
| CB Columbia Bkg Sys Inc | Added | +1,239,489 | +$31.9M | 15.5% |
| Keycorp | Trimmed | −1,690,000 | −$31.6M | 6.5% |
| Eastern Bankshares Inc | Added | +1,200,272 | +$21.8M | 12.3% |
| TB Trustco Bk Corp N Y | Added | +549,729 | +$20M | 3.3% |
| FI First Intst Bancsystem Inc | Added | +380,000 | +$12.1M | 13.3% |
| Xbp Global Holdings Inc | New | +7,871,416 | +$6.35M | 0.7% |
Showing the 10 largest of 12 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CB Columbia Bkg Sys Inc | New | +4,483,297 | +$105M | 16.4% |
| FI First Intst Bancsystem Inc | New | +3,570,107 | +$103M | 16.1% |
| CF Citizens Finl Group Inc | New | +2,086,288 | +$93.4M | 14.6% |
| Keycorp | New | +4,994,000 | +$87M | 13.6% |
| Eastern Bankshares Inc | New | +5,208,500 | +$79.5M | 12.5% |
| Pacific Premier Bancorp | New | +2,340,149 | +$49.4M | 7.7% |
| CF Capitol Fed Finl Inc | New | +6,466,059 | +$39.4M | 6.2% |
| CP Central Pac Finl Corp | Added | +1,030,034 | +$28.9M | 4.8% |
| HC Heritage Comm Corp | Added | +1,529,007 | +$15.2M | 2.5% |
| TB Trustco Bk Corp N Y | New | +323,015 | +$10.8M | 1.7% |
Showing the 10 largest of 16 changes.
quarter ended September 30, 2024 · filed November 13, 2024
No position changes this quarter.
quarter ended June 30, 2024 · filed August 13, 2024
No position changes this quarter.
quarter ended March 31, 2024 · filed May 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BH Berkshire Hills Bancorp Inc | Exited | −401,695 | −$9.97M | — |
| FB First Bancorp N C | Exited | −88,996 | −$3.29M | — |
| FB First Bancorp P R | Exited | −82,324 | −$1.35M | — |
| TP Townebank Portsmouth Va | Exited | −37,437 | −$1.11M | — |
| UC United Cmnty Bks Blairsvle G | Exited | −33,608 | −$983K | — |
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