Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$254M in Q2 2013 → $152M 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 |
|---|---|---|---|---|
| Tejon Ranch Co | 47.2% | Unchanged | 3,845,500 | $71.9M |
| Stealthgas Inc | 14.0% | Added 0.3% | 2,700,000 | $21.3M |
| AC Albertsons Cos Inc Com | 7.9% | Added 27% | 887,500 | $12M |
| Saga Communications Inc | 6.9% | Unchanged | 1,161,144 | $10.5M |
| LE Lands End Inc Com | 5.9% | Added 44% | 855,000 | $8.96M |
| SX Sirius Xm Holdings Inc Com | 5.5% | Trimmed 16% | 282,500 | $8.35M |
| AC Alumis Inc Com | 4.1% | Unchanged | 222,294 | $6.26M |
| Alico Inc | 2.0% | Trimmed 11% | 75,500 | $3.12M |
| OC Omniab Inc Com | 1.9% | Added 18% | 1,180,000 | $2.9M |
| SG Seritage Growth Pptys Cl A | 1.8% | Unchanged | 1,030,000 | $2.71M |
| Gyrodyne LLC | 1.3% | Unchanged | 338,107 | $2.04M |
| CP Corvus Pharmaceuticals Inc Com | 0.7% | Unchanged | 70,000 | $1.05M |
| IP Imperial Pete Inc Com New | 0.4% | Trimmed 32% | 130,000 | $599K |
| CM Castor Maritime Inc Com | 0.3% | Unchanged | 240,000 | $504K |
| WC Wendys Company Com | 0.1% | Unchanged | 14,500 | $120K |
| CC C3is Inc Com | 0.1% | New | 50,000 | $83K |
| AC Albertsons Cos Inc Com Call | 0.0% | Unchanged | 150,000 | $25.5K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 04, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| LE Lands End Inc Com | Added | +262,299 | +$2.75M | 5.9% |
| AC Albertsons Cos Inc Com | Added | +187,500 | +$2.54M | 7.9% |
| SX Sirius Xm Holdings Inc Com | Trimmed | −52,800 | −$1.56M | 5.5% |
| OC Omniab Inc Com | Added | +180,000 | +$443K | 1.9% |
| Alico Inc | Trimmed | −9,500 | −$393K | 2.0% |
| IP Imperial Pete Inc Com New | Trimmed | −60,000 | −$277K | 0.4% |
| CC C3is Inc Com | New | +50,000 | +$83K | 0.1% |
| Stealthgas Inc | Added | +9,042 | +$71.4K | 14.0% |
quarter ended March 31, 2026 · filed May 05, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AC Alumis Inc Com | Trimmed | −272,706 | −$6.01M | 3.2% |
| Stealthgas Inc | Trimmed | −376,542 | −$3.46M | 15.9% |
| LE Lands End Inc Com | Added | +161,701 | +$1.82M | 4.3% |
| AC Albertsons Cos Inc Com | Added | +70,000 | +$1.19M | 7.7% |
| CP Corvus Pharmaceuticals Inc Com | Trimmed | −70,000 | −$1.02M | 0.7% |
| Alico Inc | Trimmed | −19,251 | −$794K | 2.3% |
| SG Seritage Growth Pptys Cl A | Added | +230,000 | +$646K | 1.9% |
| AC Albertsons Cos Inc Com | Trimmed | −100,000 | −$94K | 0.1% |
| IP Imperial Pete Inc Com New | Trimmed | −10,000 | −$42.8K | 0.5% |
quarter ended December 31, 2025 · filed February 04, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Stealthgas Inc | Added | +160,000 | +$1.12M | 15.6% |
| Alico Inc | Trimmed | −17,749 | −$646K | 2.7% |
| LE Lands End Inc Com | Trimmed | −39,000 | −$566K | 4.5% |
| SG Seritage Growth Pptys Cl A | Added | +100,000 | +$325K | 1.9% |
| OC Omniab Inc Com | Added | +168,900 | +$312K | 1.3% |
| IP Imperial Pete Inc Com New | Trimmed | −80,000 | −$290K | 0.5% |
| AC Albertsons Cos Inc Com | Added | +15,000 | +$258K | 7.8% |
| CP Corvus Pharmaceuticals Inc Com | Trimmed | −30,000 | −$231K | 0.8% |
| Lifeway Foods Inc | Exited | −5,000 | −$139K | — |
| AC Albertsons Cos Inc Com | Added | +150,000 | +$111K | 0.1% |
quarter ended September 30, 2025 · filed November 04, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Lifeway Foods Inc | Trimmed | −73,500 | −$2.04M | 0.1% |
| AC Albertsons Cos Inc Com | Added | +109,565 | +$1.92M | 7.8% |
| WB Warner Bros Discovery Inc Com | Exited | −85,000 | −$974K | — |
| IP Imperial Pete Inc Com New | Trimmed | −142,281 | −$680K | 1.0% |
| Stealthgas Inc | Added | +57,571 | +$377K | 13.9% |
| JS Jbg Smith Pptys Com | Exited | −10,000 | −$173K | — |
| QC Quantumscape Corp Com Cl A | Exited | −25,000 | −$168K | — |
| LE Lands End Inc Com | Trimmed | −7,500 | −$106K | 4.8% |
| Alico Inc | Trimmed | −3,000 | −$104K | 3.1% |
| SG Seritage Growth Pptys Cl A | Added | +20,000 | +$85K | 2.2% |
Showing the 10 largest of 13 changes.
quarter ended June 30, 2025 · filed August 06, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AC Albertsons Cos Inc Com | Trimmed | −114,565 | −$2.46M | 7.8% |
| United States Steel Corp | Exited | −45,000 | −$1.9M | — |
| AC Acelyrin Inc Com | Exited | −540,000 | −$1.33M | — |
| LE Lands End Inc Com | Added | +57,500 | +$616K | 3.6% |
| MP Millrose Pptys Inc Com Cl A | Exited | −20,000 | −$530K | — |
| Stealthgas Inc | Added | +79,929 | +$512K | 13.0% |
| QC Quantumscape Corp Com Cl A | Trimmed | −75,000 | −$504K | 0.1% |
| CC Cantaloupe Inc Com | Exited | −62,500 | −$492K | — |
| OC Omniab Inc Com | Added | +251,100 | +$437K | 1.0% |
| Alico Inc | Added | +10,000 | +$327K | 2.9% |
Showing the 10 largest of 17 changes.
quarter ended March 31, 2025 · filed May 06, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Alico Inc | Trimmed | −100,303 | −$2.99M | 2.5% |
| AC Acelyrin Inc Com | New | +540,000 | +$1.33M | 1.0% |
| LE Lands End Inc Com | Added | +92,500 | +$942K | 3.1% |
| Lifeway Foods Inc | Added | +37,500 | +$917K | 1.3% |
| United States Steel Corp | Trimmed | −20,000 | −$845K | 1.4% |
| MP Millrose Pptys Inc Com Cl A | New | +20,000 | +$530K | 0.4% |
| CC Cantaloupe Inc Com | Trimmed | −40,000 | −$315K | 0.4% |
| Walgreens Boots Alliance Inc | Exited | −30,000 | −$280K | — |
| AC Albertsons Cos Inc Com | Trimmed | −10,000 | −$220K | 9.8% |
| CO C3is Inc Ord | Exited | −325,000 | −$186K | — |
Showing the 10 largest of 18 changes.
quarter ended December 31, 2024 · filed February 05, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Stealthgas Inc | Added | +305,000 | +$1.72M | 11.2% |
| CC Cantaloupe Inc Com | Trimmed | −127,500 | −$1.21M | 0.7% |
| CH Capri Holdings Ltd Com Npv | Exited | −25,000 | −$1.06M | — |
| CM Castor Maritime Inc Com | Added | +227,500 | +$626K | 0.5% |
| LE Lands End Inc Com | Trimmed | −40,000 | −$526K | 3.1% |
| Lifeway Foods Inc | Added | +15,000 | +$372K | 0.6% |
| IP Imperial Pete Inc Com New | Added | +122,510 | +$369K | 0.8% |
| Vista Outdoor Inc | Exited | −7,500 | −$294K | — |
| AC Alumis Inc Com | Added | +35,000 | +$275K | 2.3% |
| CP Corvus Pharmaceuticals Inc Com | Trimmed | −40,000 | −$214K | 0.3% |
Showing the 10 largest of 16 changes.
quarter ended September 30, 2024 · filed November 06, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SX Sirius Xm Holdings Inc Com | New | +335,300 | +$7.93M | 5.1% |
| LM Liberty Media Corp Del Com Lbty Srm S C | Exited | −308,500 | −$6.84M | — |
| Stealthgas Inc | Added | +222,500 | +$1.52M | 10.8% |
| CP Corvus Pharmaceuticals Inc Com | Trimmed | −282,500 | −$1.49M | 0.4% |
| LE Lands End Inc Com | Trimmed | −81,991 | −$1.42M | 4.1% |
| AC Alumis Inc Com | Added | +70,000 | +$748K | 2.6% |
| CH Capri Holdings Ltd Com Npv | Trimmed | −15,000 | −$637K | 0.7% |
| Lifeway Foods Inc | New | +20,000 | +$518K | 0.3% |
| United States Steel Corp | Added | +10,000 | +$353K | 1.5% |
| HA Hollysys Automation Tchngy Ltd | Exited | −15,000 | −$325K | — |
Showing the 10 largest of 20 changes.
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