Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (23 quarters reported)
$235M in Q4 2020 → $103M 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 |
|---|---|---|---|---|
| IQ Invesco Qqq Tr Put | 11.1% | New | 15,500 | $11.4M |
| BD Bancorp Inc Del | 7.1% | Trimmed 3.2% | 116,995 | $7.33M |
| Green Dot Corp | 5.4% | New | 409,059 | $5.53M |
| EI Enova Intl Inc | 5.1% | Added 1.3% | 21,824 | $5.25M |
| Riot Platforms Inc | 5.1% | Added 1.0% | 189,729 | $5.19M |
| DD Ducommun Inc Del | 4.3% | Trimmed 18% | 23,718 | $4.39M |
| Arcosa Inc | 3.9% | Trimmed 20% | 27,260 | $3.96M |
| Ftai Infrastructure Inc | 3.7% | Added 0.9% | 822,351 | $3.82M |
| Triumph Financial Inc | 3.7% | Added 43% | 49,633 | $3.79M |
| Garrett Motion Inc | 3.6% | Trimmed 34% | 101,167 | $3.67M |
| TN Tidewater Inc New | 3.2% | Added 1.2% | 48,760 | $3.25M |
| Hudbay Minerals Inc | 3.1% | Added 1.3% | 133,607 | $3.15M |
| NA North Amern Constr Group Ltd | 2.9% | Added 1.2% | 226,537 | $3.01M |
| Banc Of California Inc | 2.9% | Trimmed 17% | 147,413 | $3.01M |
| AS Aebi Schmidt Hldg Ag | 2.9% | Added 52% | 234,969 | $2.95M |
| TI Trinity Inds Inc | 2.6% | Added 1.3% | 78,235 | $2.71M |
| MI Myers Inds Inc | 2.6% | Added 1.2% | 75,487 | $2.67M |
| Metallus Inc | 2.5% | Added 1.2% | 136,651 | $2.55M |
| TM Trekor Metals Ltd | 2.4% | New | 364,557 | $2.51M |
| United States Antimony Corp | 2.2% | Added 0.8% | 307,174 | $2.23M |
| Ferroglobe PLC | 2.1% | Added 1.2% | 690,000 | $2.19M |
| Axos Financial Inc | 2.1% | Added 1.3% | 22,491 | $2.19M |
| FB Franklin Bsp Rlty Tr Inc | 2.1% | Added 66% | 267,856 | $2.18M |
| NH Ni Hldgs Inc | 1.8% | Added 0.9% | 120,742 | $1.9M |
| Pathward Financial Inc | 1.8% | Added 1.2% | 21,144 | $1.84M |
| DB Driven Brands Hldgs Inc | 1.8% | New | 131,785 | $1.84M |
| Intellia Therapeutics Inc | 1.3% | Trimmed 3.1% | 79,503 | $1.35M |
| Atlas Energy Solutions Inc | 1.2% | Added 1.3% | 75,237 | $1.25M |
| Revolve Group Inc | 1.2% | Added 1.3% | 53,916 | $1.23M |
| Azz Inc | 0.6% | Unchanged | 3,902 | $605K |
| SE Solaris Energy Infras Inc | 0.5% | Unchanged | 5,750 | $463K |
| Talen Energy Corp | 0.4% | Unchanged | 1,060 | $407K |
| FE Franklin Elec Inc | 0.4% | Unchanged | 3,427 | $367K |
| FL Foster L B Co | 0.3% | Unchanged | 7,379 | $333K |
| Idaho Strategic Resources | 0.3% | Unchanged | 9,956 | $326K |
| CG Caseys Gen Stores Inc | 0.3% | Unchanged | 400 | $318K |
| W Wabtec | 0.2% | Unchanged | 912 | $246K |
| Green Brick Partners Inc | 0.2% | New | 3,000 | $240K |
| CI Cf Industries Hold | 0.2% | Unchanged | 2,096 | $227K |
| Digitalbridge Group Inc | 0.2% | Unchanged | 13,862 | $219K |
| Banner Corp | 0.2% | New | 3,029 | $201K |
| GL Gladstone Ld Corp | 0.2% | Unchanged | 19,695 | $168K |
| Dmc Global Inc | 0.1% | Unchanged | 21,152 | $123K |
| Transocean Ltd | 0.0% | Unchanged | 10,185 | $49.8K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS State Str SPDR S&P 500 ETF T | Exited | −30,000 | −$19.5M | — |
| IQ Invesco Qqq Tr | New | +15,500 | +$11.4M | 11.1% |
| Green Dot Corp | New | +409,059 | +$5.53M | 5.4% |
| Arcbest Corp | Exited | −27,564 | −$2.71M | — |
| TM Trekor Metals Ltd | New | +364,557 | +$2.51M | 2.4% |
| GC Greenlight Cap Re Ltd | Exited | −138,927 | −$2.4M | — |
| Garrett Motion Inc | Trimmed | −51,776 | −$1.88M | 3.6% |
| DB Driven Brands Hldgs Inc | New | +131,785 | +$1.84M | 1.8% |
| Central Garden & Pet Co | Exited | −44,381 | −$1.63M | — |
| Taseko Mines Ltd | Exited | −223,259 | −$1.44M | — |
Showing the 10 largest of 39 changes.
quarter ended March 31, 2026 · filed May 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Exited | −60,000 | −$40.9M | — |
| SS State Str SPDR S&P 500 ETF T | New | +30,000 | +$19.5M | 20.3% |
| Hudbay Minerals Inc | Trimmed | −153,808 | −$3.21M | 2.9% |
| MI Myers Inds Inc | New | +74,628 | +$1.58M | 1.6% |
| Axos Financial Inc | Trimmed | −17,466 | −$1.49M | 2.0% |
| Taseko Mines Ltd | Added | +205,200 | +$1.32M | 1.5% |
| CS Criteo S A | Exited | −57,293 | −$1.18M | — |
| Riot Platforms Inc | Added | +88,232 | +$1.09M | 2.4% |
| NA North Amern Constr Group Ltd | Added | +68,812 | +$928K | 3.1% |
| Revolve Group Inc | Trimmed | −40,461 | −$915K | 1.3% |
Showing the 10 largest of 17 changes.
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | New | +60,000 | +$40.9M | 35.5% |
| SS SPDR S&P 500 ETF Tr | Exited | −60,000 | −$40M | — |
| Hudbay Minerals Inc | Trimmed | −151,853 | −$3.01M | 4.9% |
| 89bio Inc | Exited | −204,114 | −$3M | — |
| Greenlight Capital Re Ltd | Trimmed | −105,942 | −$1.54M | 1.8% |
| United States Antimony Corp | New | +304,623 | +$1.53M | 1.3% |
| BD Bancorp Inc Del | Trimmed | −15,657 | −$1.06M | 6.2% |
| Ferroglobe PLC | Added | +197,407 | +$916K | 2.7% |
| Riot Platforms Inc | Added | +37,168 | +$471K | 1.1% |
| Potbelly Corp | Exited | −20,888 | −$356K | — |
Showing the 10 largest of 40 changes.
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | New | +60,000 | +$40M | 34.5% |
| SS SPDR S&P 500 ETF Tr | Exited | −40,000 | −$24.7M | — |
| Garrett Motion Inc | Trimmed | −145,033 | −$1.98M | 1.8% |
| AS Aebi Schmidt Hldg Ag | New | +151,338 | +$1.89M | 1.6% |
| Shyft Group Inc | Exited | −140,989 | −$1.77M | — |
| Metallus Inc | New | +90,618 | +$1.5M | 1.3% |
| Riot Platforms Inc | New | +62,533 | +$1.19M | 1.0% |
| TI Trinity Inds Inc | Added | +26,978 | +$756K | 1.8% |
| Talen Energy Corp | Trimmed | −1,253 | −$533K | 0.6% |
| Hudbay Minerals Inc | Added | +26,704 | +$405K | 5.7% |
Showing the 10 largest of 36 changes.
quarter ended June 30, 2025 · filed August 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | New | +40,000 | +$24.7M | 27.3% |
| EI Enova Intl Inc | Trimmed | −68,999 | −$7.69M | 2.5% |
| Pathward Financial Inc | Trimmed | −96,429 | −$7.63M | 1.7% |
| Ftai Infrastructure Inc | Trimmed | −848,971 | −$5.24M | 5.2% |
| BD Bancorp Inc Del | Trimmed | −89,910 | −$5.12M | 7.7% |
| Axos Financial Inc | Trimmed | −61,013 | −$4.64M | 3.2% |
| Garrett Motion Inc | Trimmed | −415,357 | −$4.37M | 3.5% |
| Idt Corp | Exited | −78,945 | −$4.05M | — |
| Greenlight Capital Re Ltd | Trimmed | −271,169 | −$3.9M | 3.8% |
| CS Criteo S A | Trimmed | −160,070 | −$3.84M | 1.5% |
Showing the 10 largest of 34 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| FI Ftai Infrastructure Inc Common Stock | Exited | −1,896,093 | −$13.4M | — |
| RG Revolve Group Inc Cl A | Exited | −339,709 | −$11.6M | — |
| IC Idt Corp Cl B New | Exited | −218,000 | −$10.3M | — |
| EI Enova Intl Inc | Trimmed | −104,187 | −$10.1M | 5.9% |
| MW Mueller Wtr Prods Inc | Trimmed | −385,899 | −$9.81M | 0.5% |
| SM Summit Matls Inc Cl A | Exited | −171,000 | −$8.64M | — |
| BD Bancorp Inc Del | Trimmed | −140,911 | −$7.45M | 7.6% |
| TN Tidewater Inc New Com | Exited | −132,454 | −$7.05M | — |
| Ftai Infrastructure Inc | Added | +1,436,700 | +$6.51M | 5.0% |
| CS Criteo S A | Trimmed | −162,718 | −$5.76M | 5.2% |
Showing the 10 largest of 51 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TC Trimas Corp Com New | Exited | −362,997 | −$9.28M | — |
| VO Vista Outdoor Inc Com | Exited | −234,555 | −$9.23M | — |
| EH Encompass Health Corp Com | Exited | −90,733 | −$8.71M | — |
| DD Ducommun Inc Del Com | New | +92,012 | +$5.62M | 2.2% |
| SM Summit Matls Inc Cl A | Trimmed | −81,708 | −$4.13M | 3.4% |
| VO Vista Outdoor Inc Com | Exited | −27,420 | −$1.07M | — |
| EI Enova Intl Inc Com | Trimmed | −10,971 | −$1.06M | 7.4% |
| BD Bancorp Inc Del Com | Trimmed | −17,678 | −$939K | 7.4% |
| CS Criteo S A Spons Ads | Trimmed | −22,993 | −$903K | 5.8% |
| FI Ftai Infrastructure Inc Common Stock | Trimmed | −121,679 | −$860K | 5.3% |
Showing the 10 largest of 54 changes.
quarter ended September 30, 2024 · filed November 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| FI Ftai Infrastructure Inc Common Stock | Trimmed | −2,299,626 | −$21.5M | 0.6% |
| FA Ftai Aviation Ltd Shs | Trimmed | −143,498 | −$19.1M | 0.1% |
| FI Ftai Infrastructure Inc Common Stock | New | +2,017,772 | +$18.4M | 6.3% |
| TN Tidewater Inc New Com | Trimmed | −161,092 | −$11.6M | 0.1% |
| VO Vista Outdoor Inc Com | Trimmed | −268,910 | −$10.5M | 0.4% |
| RG Revolve Group Inc Cl A | Trimmed | −413,320 | −$10.2M | 0.2% |
| TN Tidewater Inc New Com | New | +140,954 | +$10.1M | 3.5% |
| IC Idt Corp Cl B New | Trimmed | −263,960 | −$10.1M | 0.2% |
| HM Hudbay Minerals Inc Com | Trimmed | −1,074,538 | −$9.88M | 0.2% |
| VO Vista Outdoor Inc Com | New | +234,555 | +$9.23M | 3.2% |
Showing the 10 largest of 57 changes.
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