Institution

Legato Capital Management LLC

13F for June 30, 2026, filed August 6, 2026 · SEC CIK 1442641 · Holdings history from June 30, 2015

Reported value: $1.2bn
Positions we cover: 312
Copy, a year: +13.8%
Copy Sharpe ratio: 0.60

Copy-performance statistics: August 14, 2015 to November 2, 2026. Holdings history can start earlier than the price data used for performance.

Historical holdings

Holdings across the available history, including securities outside our stock coverage. Select a date to view the holdings for that period.

Related reporting managers

SEC notices identify these reporting relationships. Each manager retains its own holdings history; changes in reporting scope can involve several managers.

Holdings reported by Affinity Investment Advisors, LLC · SEC notice for June 30, 2013
Holdings reported by Castleark Management LLC · SEC notice for June 30, 2013
Holdings reported by Channing Capital Management, LLC · SEC notice for June 30, 2013
Holdings reported by Deprince Race & Zollo Inc · SEC notice for June 30, 2013
Holdings reported by Informed Momentum Co LLC · SEC notice for June 30, 2013
Holdings reported by Kennedy Capital Management LLC · SEC notice for June 30, 2013
Holdings reported by Lmcg Investments, LLC · SEC notice for June 30, 2013
Holdings reported by Mar Vista Investment Partners LLC · SEC notice for June 30, 2013
Holdings reported by Next Century Growth Investors LLC · SEC notice for June 30, 2013
Holdings reported by Oakbrook Investments LLC · SEC notice for June 30, 2013
Holdings reported by Penn Capital Management Company, LLC · SEC notice for June 30, 2013
Holdings reported by Piedmont Investment Advisors Inc · SEC notice for June 30, 2013
Holdings reported by Phocas Financial Corp. · SEC notice for June 30, 2013
Holdings reported by Redwood Investments, LLC · SEC notice for June 30, 2013
Holdings reported by Riverbridge Partners LLC · SEC notice for June 30, 2013
Holdings reported by Stephens Investment Management Group LLC · SEC notice for June 30, 2013
Holdings reported by Sustainable Growth Advisers, LP · SEC notice for June 30, 2013
Holdings reported by Twin Capital Management Inc · SEC notice for June 30, 2013
Holdings reported by Huber Capital Management LLC · SEC notice for June 30, 2013
Holdings reported by Granite Investment Partners, LLC · SEC notice for June 30, 2013
Holdings reported by Rice Hall James & Associates, LLC · SEC notice for June 30, 2013
Holdings reported by Foundry Partners, LLC · SEC notice for December 31, 2013
Holdings reported by Lombardia Capital Partners LLC · SEC notice for March 31, 2014
Holdings reported by Bank Of New York Mellon Corp · SEC notice for June 30, 2014
Holdings reported by Ami Asset Management Corp · SEC notice for December 31, 2014
Holdings reported by Apex Capital Management · SEC notice for March 31, 2015

Holdings date Find a security

678 reported entries for June 30, 2026.

Issuer	Class / type	Reported value	Quantity
LENNAR CORP CL A526057104 · LEN	COM	$3.6m	39,630
LENNOX INTL INC526107107 · LII	COM	$592,430	1,034
LENSAR INC52634l108	COM	$71,769	12,569
LEONARDO DRS INC COM52661a108	COM	$3.6m	83,547
LIBERTY OILFIELD SERVICES INC53115l104	COM	$287,252	10,968
LIFE TIME GROUP HOLDINGS INC C53190c102	COM	$2.4m	58,598
LIGAND PHARMACEUTICALS INC53220k504	COM	$4.9m	15,569
LIGHTPATH TECHNOLOGIES INC532257805 · LPTH	COM	$1.5m	93,537
LINCOLN EDUCATIONAL SERVICES533535100 · LINC	COM	$9.1m	183,074
LINDBLAD EXPEDITIONS HOLDINGS535219109 · LIND	COM	$4.3m	151,059
LIQUIDIA CORPORATION53635d202	COM	$2.0m	25,352
LIQUIDITY SERVICES INC53635b107	COM	$1.4m	34,854
LITHIA MOTORS INCCL A536797103 · LAD	COM	$748,302	2,576
LITTELFUSE INC537008104 · LFUS	COM	$450,321	989
LIVERAMP HOLDINGS INC53815p108	COM	$597,949	15,886
LOCKHEED MARTIN CORP539830109 · LMT	COM	$233,842	459
LOWE S COS INC548661107 · LOW	COM	$1.1m	4,990
LPL FINANCIAL HOLDINGS INC50212v100	COM	$239,146	849
LSB INDS INC502160104 · LXU	COM	$596,344	55,166
LSI INDS INC50216c108	COM	$10.5m	395,601
LTC PROPERTIES INC REIT502175102 · LTC	COM	$225,471	5,864
LUMENTUM HOLDINGS INC55024u109	COM	$226,528	264
MA COM TECHNOLOGY SOLUTIONS HO55405y100	COM	$2.1m	5,532
MACYS INC55616p104	COM	$724,987	30,785
MAGNITE INC55955d100	COM	$3.2m	166,918
MAMAMANCINIS HOLDINGS INC56146t103	COM	$2.0m	110,213
MARAVAI LIFESCIENCES HOLDINGS56600d107	COM	$911,446	146,065
MARRIOTT INTL INC571903202 · MAR	COM	$346,872	936
MARVELL TECHNOLOGY INC573874104 · MRVL	COM	$540,075	1,813
MARZETTI COMPANY COM513847103 · MZTI	COM	$1.2m	10,332
MASTEC INC576323109 · MTZ	COM	$363,636	874
MASTERCARD INC CLASS A57636q104	COM	$1.3m	2,580
MATADOR RESOURCES COMPANY576485205 · MTDR	COM	$465,194	9,345
MAXIMUS INC577933104 · MMS	COM	$259,661	4,830
MAXLINEAR INC57776j100	COM	$3.7m	29,081
MCDONALD S CORP580135101 · MCD	COM	$3.4m	12,569
MEDNAX INC58502b106	COM	$1.7m	68,916
MEDPACE HOLDINGS INC58506q109	COM	$350,059	661
MERCADOLIBRE INC58733r102	COM	$4.3m	2,517
MERCK CO INC58933y105	COM	$4.0m	30,800
MERCURY COMPUTER SYS INC589378108 · MRCY	COM	$2.6m	21,005
MERCURY GEN CORP589400100 · MCY	COM	$949,025	8,901
META PLATFORMS INC CL A30303m102	COM	$1.9m	3,327
METLIFE INC59156r108	COM	$309,926	3,663
METROPOLITAN BANK HOLDING CORP591774104 · MCB	COM	$828,004	8,384
METTLER-TOLEDO INTL INC592688105 · MTD	COM	$3.1m	2,400
MICRON TECHNOLOGY INC595112103 · MU	COM	$1.4m	1,252
MICROSOFT CORP594918104 · MSFT	COM	$7.8m	20,846
MIDDLESEX WTR CO596680108 · MSEX	COM	$1.3m	22,705
MIDLAND STATES BANCORP INC597742105 · MSBI	COM	$861,457	27,664
MINERALS TECHNOLOGIES INC603158106 · MTX	COM	$2.2m	30,167
MIRION TECHNOLOGIES INC COM CL60471a101	COM	$1.8m	100,357
MIRUM PHARMACEUTICALS INC COM604749101 · MIRM	COM	$6.8m	58,512
MISTRAS GROUP60649t107	COM	$1.5m	86,529
MITEK SYSTEMS INC606710200 · MITK	COM	$2.0m	99,426
MODINE MANUFACTURING CO607828100 · MOD	COM	$9.0m	33,630
MOODYS CORP615369105 · MCO	COM	$483,719	1,068
MOOG INC CLASS A615394202	COM	$1.6m	3,868
MOTOROLA SOLUTIONS INC620076307 · MSI	COM	$857,989	2,066
MOVADO GROUP INC624580106 · MOV	COM	$813,717	20,700
MP MATERIALS CORP553368101 · MP	COM	$1.1m	18,910
MURPHY USA INC626755102 · MUSA	COM	$340,566	632
MYR GROUP INC55405w104	COM	$571,457	1,142
NABORS INDUSTRIES LTDg6359f137	COM	$786,250	9,359
NAPCO SECURITY TECHNOLOGIES630402105 · NSSC	COM	$455,646	11,997
NASDAQ OMX GROUP/THE631103108 · NDAQ	COM	$705,518	8,951
10X GENOMICS INC CL A88025u109	COM	$1.1m	28,046
1ST SOURCE CORP336901103 · SRCE	COM	$1.5m	18,251
3D SYS CORP88554d205	COM	$740,984	245,359
3M CO88579y101	COM	$332,725	2,055
908 DEVICES INC65443p102	COM	$1.4m	158,119
A10 NETWORKS INC002121101 · ATEN	COM	$1.1m	29,246
ABBVIE INC00287y109	COM	$1.6m	6,182
ABEONA THERAPEUTICS INC NEW00289y206	COM	$104,009	16,830
ACADIA HEALTHCARE COMPANY INC00404a109	COM	$1.6m	53,935
ACI WORLDWIDE INC004498101 · ACIW	COM	$827,773	16,460
ADAPTHEALTH CORP00653q102	COM	$215,433	20,675
ADAPTIVE BIOTECHNOLOGIES CORPO00650f109	COM	$5.9m	273,441
ADDUS HOMESCARE CORP006739106 · ADUS	COM	$2.9m	28,469
ADIENT PLCg0084w101	COM	$682,633	37,140
ADOBE SYSTEMS INC00724f101	COM	$228,597	1,115
ADTRAN HOLDINGS INC00486h105	COM	$869,862	62,580
ADVANCED ENERGY INDS INC007973100 · AEIS	COM	$2.7m	7,248
ADVANCED MICRO DEVICES INC007903107 · AMD	COM	$1.6m	2,790
AGILYSYS INC00847j105	COM	$14.7m	141,060
ALBANY INTL CORP CL A012348108 · AIN	COM	$786,124	10,552
ALLEGRO MICROSYSTEMS INC COM01749d105	COM	$2.7m	39,195
ALLIED MOTION TECHNOLOGIES INC019330109 · ALNT	COM	$1.6m	15,680
ALLOT COMMUNICATIONSm0854q105	COM	$91,890	10,383
ALLY FINANCIAL02005n100	COM	$243,397	5,297
ALNYLAM PHARMACEUTICALS INC02043q107	COM	$1.8m	6,004
ALPHABET INC CLASS A02079k305	COM	$7.7m	21,470
ALPHABET INC CLASS C02079k107	COM	$1.5m	4,331
AMAZON.COM INC023135106 · AMZN	COM	$5.3m	22,243
AMBARELLA INCg037ax101	COM	$1.4m	15,971
AMCOR PLCg0250x149	COM	$323,738	7,468
AMERANT BANCORP INC023576101 · AMTB	COM	$1.3m	50,251
AMERICAN EXPRESS CO025816109 · AXP	COM	$468,138	1,384
AMERICAN PUB ED INC02913v103	COM	$1.3m	24,104
AMERICAN STATES WATER CO029899101 · AWR	COM	$2.7m	32,111

Values use the units disclosed in the source. Where a dollar scale cannot be established, the original amount is shown as filed. Rows may include separate allocations, options and principal amounts; these are kept separate from the covered-stock portfolio used for performance.

How copying its 13F would have done

CopyS&P 500 $10,000 copying Legato Capital Management LLC's usable filed holdings in companies we cover from August 14, 2015, rebalancing at the first weekly close after each usable filing and holding until the next, against the S&P 500 (total return). Missing prices carry their last observed value. Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −34.9% (S&P 500 −31.8%); beta 1.01; alpha +0.5% a year (t = 0.13); last 12 months +14.9% against +12.1%.

Reported value by quarter

Legato Capital Management LLC: 13F reported value Total reported value where the source's dollar units can be established. Earlier filings in thousands of dollars are converted; dates with unresolved value units are omitted.

View chart data

Period	Reported value
2015-06-30	$33.9M
2015-12-31	$52.4M
2016-03-31	$26.2M
2016-06-30	$58M
2017-03-31	$83.3M
2017-06-30	$234.4M
2017-09-30	$672.3M
2017-12-31	$694.4M
2018-03-31	$587.5M
2018-06-30	$558.2M
2018-09-30	$514.8M
2018-12-31	$489.4M
2019-03-31	$302.9M
2019-06-30	$544.9M
2019-09-30	$537.1M
2019-12-31	$479.5M
2020-03-31	$343.1M
2020-06-30	$496.4M
2020-09-30	$453.7M
2020-12-31	$527.9M
2021-03-31	$532.6M
2021-06-30	$708.6M
2021-09-30	$527.7M
2021-12-31	$540.8M
2022-03-31	$490.3M
2022-06-30	$446.3M
2022-09-30	$386.3M
2022-12-31	$523.5M
2023-03-31	$550.5M
2023-06-30	$739.4M
2023-09-30	$690.3M
2023-12-31	$765.7M
2024-03-31	$829M
2024-06-30	$742.2M
2024-09-30	$809.1M
2024-12-31	$765.2M
2025-03-31	$742.2M
2025-06-30	$839.3M
2025-09-30	$918M
2025-12-31	$1.2B
2026-03-31	$1.1B
2026-06-30	$1.2B

Latest covered holdings and moves

Covered holdings as of June 30, 2026.

Company	Share of portfolio	Value	Shares	Change in shares
SNEXStonex Group Inc.	1.33%	$16.1m	135.5K	−19.5% Reduced
VSECVSE Corp	1.10%	$13.3m	58.1K	−5.9% Reduced
AAPLApple Inc.	0.86%	$10.4m	36.1K	−39.1% Reduced
UFPTUFP Technologies Inc	0.78%	$9.4m	35.3K	−1.2% Reduced
LINCLincoln Educational Services Corp	0.76%	$9.1m	183.1K	+5.5% Added
BGCBGC Group, Inc.	0.75%	$9.1m	848.0K	+0.4%
MODModine Manufacturing Co	0.74%	$9.0m	33.6K	−4.5% Reduced
MSFTMicrosoft Corporation	0.64%	$7.8m	20.8K	−1.2% Reduced
WINAWinmark Corp	0.63%	$7.6m	17.9K	+20.2% Added
ODCOil-dri Corp Of America	0.62%	$7.5m	73.5K	+4.2% Added
PLUSEplus Inc	0.60%	$7.2m	86.5K	−8.4% Reduced
GHMGraham Corp	0.58%	$7.0m	56.3K	+25.0% Added
MIRMMirum Pharmaceuticals, Inc.	0.57%	$6.8m	58.5K	+40.1% Added
COHUCohu Inc	0.56%	$6.8m	91.4K	−13.4% Reduced
STRLSterling Infrastructure, Inc.	0.54%	$6.5m	7.7K	−64.4% Reduced
DJCODaily Journal Corp	0.53%	$6.4m	10.7K	0.0%
SMTCSemtech Corp	0.52%	$6.3m	38.8K	+5.3% Added
CRSCarpenter Technology Corp	0.50%	$6.1m	9.8K	−19.6% Reduced
AMZNAmazon	0.44%	$5.3m	22.2K	−42.4% Reduced
LSCCLattice Semiconductor Corp	0.43%	$5.2m	33.7K	−12.7% Reduced
CLMBClimb Global Solutions, Inc.	0.40%	$4.8m	207.9K	0.0%
CALYCallaway Golf Co	0.40%	$4.8m	256.1K	+63.6% Added
POWLPowell Industries Inc	0.39%	$4.7m	16.4K	+219.4% Added
BBYBest Buy	0.38%	$4.5m	59.9K	+2.1% Added
BMYBristol Myers Squibb	0.35%	$4.3m	74.1K	−8.5% Reduced
LINDLindblad Expeditions Holdings, Inc.	0.35%	$4.3m	151.1K	+325.4% Added
WERNWerner Enterprises Inc	0.35%	$4.2m	97.4K	+352.1% Added
AMGNAmgen	0.35%	$4.2m	11.6K	+11.0% Added
HDThe Home Depot	0.35%	$4.2m	11.9K	−0.7% Reduced
BACBank of America	0.34%	$4.2m	72.8K	−8.3% Reduced
CCitigroup	0.34%	$4.1m	29.6K	−22.2% Reduced
HNGEHinge Health, Inc.	0.34%	$4.1m	49.2K	+166.5% Added
ADIAnalog Devices	0.34%	$4.1m	10.2K	−48.4% Reduced
FORMFormfactor Inc	0.32%	$3.9m	24.5K	+205.3% Added
KOThe Coca-Cola Company	0.32%	$3.8m	47.0K	−11.1% Reduced
IBMIBM	0.32%	$3.8m	13.5K	−10.6% Reduced
SKTTanger Inc.	0.31%	$3.7m	94.9K	+29.7% Added
KEYKeyCorp	0.31%	$3.7m	162.0K	−12.5% Reduced
ONTOOnto Innovation Inc.	0.31%	$3.7m	9.8K	−40.3% Reduced
UPSUnited Parcel Service	0.31%	$3.7m	34.5K	−6.7% Reduced
DIODDiodes Inc	0.31%	$3.7m	33.9K	+19.4% Added
IPInternational Paper	0.31%	$3.7m	97.0K	New
ECGEverus Construction Group, Inc.	0.30%	$3.7m	22.1K	+84.5% Added
OKEOneok	0.30%	$3.6m	41.8K	−2.8% Reduced
PVLAPalvella Therapeutics, Inc.	0.30%	$3.6m	23.5K	+46.6% Added
LENLennar	0.30%	$3.6m	39.6K	+4.3% Added
CORTCorcept Therapeutics Inc	0.30%	$3.6m	41.2K	+372.5% Added
LHXL3Harris	0.29%	$3.5m	12.2K	+22.1% Added
OMCOmnicom Group	0.29%	$3.5m	48.7K	−11.8% Reduced
PFEPfizer	0.29%	$3.5m	145.2K	+0.3%
HCSGHealthcare Services Group Inc	0.29%	$3.5m	140.5K	+9.8% Added
MCDMcDonald's	0.28%	$3.4m	12.6K	+11.2% Added
PSXPhillips 66	0.28%	$3.3m	19.7K	−1.6% Reduced
LLYLilly (Eli)	0.27%	$3.3m	2.7K	−35.9% Reduced
KRYSKrystal Biotech, Inc.	0.27%	$3.2m	8.7K	+25.0% Added
VIAVViavi Solutions Inc.	0.27%	$3.2m	67.8K	−39.5% Reduced
CVXChevron Corporation	0.26%	$3.1m	18.7K	−1.7% Reduced
MTDMettler Toledo	0.25%	$3.1m	2.4K	0.0%
OIIOceaneering International Inc	0.24%	$2.9m	72.6K	+4.7% Added
SHOOSteven Madden, LTD.	0.24%	$2.9m	69.6K	+37.3% Added
ROSTRoss Stores	0.24%	$2.9m	13.4K	−35.7% Reduced
ADUSAddus Homecare Corp	0.24%	$2.9m	28.5K	−5.2% Reduced
ATROAstronics Corp	0.23%	$2.8m	34.7K	+106.7% Added
AEISAdvanced Energy Industries Inc	0.22%	$2.7m	7.2K	−57.2% Reduced
AWRAmerican States Water Co	0.22%	$2.7m	32.1K	+31.9% Added
DEDeere & Company	0.22%	$2.6m	4.2K	−31.6% Reduced
ILMNIllumina, Inc.	0.22%	$2.6m	15.1K	−22.0% Reduced
HTLDHeartland Express Inc	0.22%	$2.6m	173.5K	+36.3% Added
EIGEmployers Holdings, Inc.	0.22%	$2.6m	51.7K	+97.2% Added
SIGISelective Insurance Group Inc	0.21%	$2.6m	26.7K	New
MRCYMercury Systems Inc	0.21%	$2.6m	21.0K	+6.4% Added
JBSSSanfilippo John B & SON Inc	0.21%	$2.5m	29.6K	+5.1% Added
DNTHDianthus Therapeutics, Inc.	0.21%	$2.5m	26.0K	+107.8% Added
ONON Semiconductor Corp	0.21%	$2.5m	26.8K	−54.1% Reduced
PORPortland General Electric Co	0.21%	$2.5m	48.5K	+36.2% Added
DYDycom Industries Inc	0.21%	$2.5m	4.9K	+7.0% Added
KLACKLA Corporation	0.21%	$2.5m	8.3K	+225.2% Added
CVLTCommvault Systems Inc	0.21%	$2.5m	17.6K	New
KLICKulicke & Soffa Industries Inc	0.20%	$2.5m	18.4K	+78.0% Added
TILEInterface Inc	0.20%	$2.5m	68.7K	+183.5% Added
VSXYVictoria's Secret & Co.	0.20%	$2.5m	29.4K	+109.2% Added
VEEVVeeva Systems Inc	0.19%	$2.3m	12.9K	0.0%
CROXCrocs, Inc.	0.19%	$2.3m	18.9K	New
RSIRush Street Interactive, Inc.	0.19%	$2.3m	76.0K	+2.4% Added
MTXMinerals Technologies Inc	0.18%	$2.2m	30.2K	+115.5% Added
KFRCKforce Inc	0.18%	$2.1m	45.2K	New
JOUTJohnson Outdoors Inc	0.17%	$2.1m	45.9K	+38.1% Added
SNPSSynopsys Inc	0.17%	$2.1m	4.7K	−43.1% Reduced
ESEEsco Technologies Inc	0.17%	$2.0m	5.7K	+45.4% Added
MITKMitek Systems Inc	0.17%	$2.0m	99.4K	−26.6% Reduced
FEIMFrequency Electronics Inc	0.17%	$2.0m	30.0K	+3.1% Added
RGENRepligen Corp	0.17%	$2.0m	14.6K	−11.7% Reduced
WKCWorld Kinect Corp	0.16%	$2.0m	59.7K	New
APLDApplied Digital Corp.	0.16%	$1.9m	51.3K	New
JJSFJ&J Snack Foods Corp	0.16%	$1.9m	25.8K	+94.6% Added
DGIIDigi International Inc	0.15%	$1.9m	24.9K	+42.4% Added
SIGASiga Technologies Inc	0.15%	$1.9m	512.0K	0.0%
APHAmphenol	0.15%	$1.9m	10.6K	−56.0% Reduced
CPKChesapeake Utilities Corp	0.15%	$1.8m	15.0K	+70.2% Added
GRALGrail, Inc.	0.15%	$1.8m	26.4K	−32.9% Reduced
CXDOCrexendo, Inc.	0.15%	$1.8m	239.4K	+2.9% Added
CATYCathay General Bancorp	0.15%	$1.8m	28.6K	+288.7% Added
HAEHaemonetics Corp	0.15%	$1.8m	23.4K	New
HLITHarmonic Inc.	0.14%	$1.7m	105.5K	+458.1% Added
AMSCAmerican Superconductor Corp	0.14%	$1.7m	41.4K	+3.1% Added
CHEFChefs' Warehouse, Inc.	0.14%	$1.6m	17.1K	+11.7% Added
DAKTDaktronics Inc	0.14%	$1.6m	83.3K	+46.2% Added
AMDAdvanced Micro Devices	0.13%	$1.6m	2.8K	New
ALNTAllient Inc	0.13%	$1.6m	15.7K	−40.5% Reduced
LPTHLightpath Technologies Inc	0.13%	$1.5m	93.5K	+43.3% Added
SIBNSi-bone, Inc.	0.12%	$1.5m	91.4K	+37.2% Added
GFFGriffon Corp	0.12%	$1.5m	15.3K	+3.1% Added
SRCE1st Source Corp	0.12%	$1.5m	18.3K	−3.4% Reduced
POWIPower Integrations Inc	0.12%	$1.5m	17.7K	New
FIVNFive9, Inc.	0.12%	$1.5m	69.1K	New
BOOTBoot Barn Holdings, Inc.	0.12%	$1.5m	8.9K	−13.4% Reduced
MUMicron Technology	0.12%	$1.4m	1.3K	New
KNXKnight-swift Transportation Holdings Inc.	0.12%	$1.4m	18.4K	−53.6% Reduced
CMCOColumbus Mckinnon Corp	0.12%	$1.4m	93.4K	+40.7% Added
STTState Street Corporation	0.12%	$1.4m	8.2K	−56.8% Reduced
UMBFUMB Financial Corp	0.11%	$1.4m	9.6K	New
THFFFirst Financial Corp	0.11%	$1.3m	17.4K	−21.5% Reduced
AVPTAvepoint, Inc.	0.11%	$1.3m	119.8K	+36.9% Added
TXNTexas Instruments	0.11%	$1.3m	4.5K	−53.8% Reduced
LTRXLantronix Inc	0.11%	$1.3m	222.6K	+108.2% Added
ORAOrmat Technologies, Inc.	0.11%	$1.3m	11.9K	+0.6% Added
STBAS&T Bancorp Inc	0.11%	$1.3m	26.5K	+27.2% Added
WMBWilliams Companies	0.11%	$1.3m	17.5K	−43.7% Reduced
AMTBAmerant Bancorp Inc.	0.11%	$1.3m	50.3K	+3.1% Added
MSEXMiddlesex Water Co	0.11%	$1.3m	22.7K	New
CENXCentury Aluminum Co	0.11%	$1.3m	27.7K	−32.4% Reduced
NWPXNwpx Infrastructure, Inc.	0.10%	$1.3m	8.4K	−5.1% Reduced
WHDCactus, Inc.	0.10%	$1.2m	24.2K	−54.5% Reduced
PIPRPiper Sandler Companies	0.10%	$1.2m	17.1K	+2.3% Added
ACLSAxcelis Technologies Inc	0.10%	$1.2m	6.4K	New
CATCaterpillar Inc.	0.10%	$1.2m	1.1K	+31.5% Added
BFHBread Financial Holdings, Inc.	0.10%	$1.2m	11.1K	0.0%
GTYGetty Realty Corp	0.10%	$1.2m	35.9K	+221.4% Added
SBCFSeacoast Banking Corp Of Florida	0.10%	$1.2m	36.0K	+2.4% Added
RMBSRambus Inc	0.10%	$1.2m	9.0K	+2.4% Added
INSMInsmed Inc	0.10%	$1.2m	11.1K	−71.9% Reduced
CACCamden National Corp	0.10%	$1.2m	21.8K	−32.5% Reduced
MZTIMarzetti Co	0.10%	$1.2m	10.3K	+113.8% Added
PATKPatrick Industries Inc	0.10%	$1.1m	12.7K	−46.7% Reduced
CAVACAVA Group, Inc.	0.10%	$1.1m	14.6K	+5.7% Added
OSGOctave Specialty Group Inc	0.09%	$1.1m	181.0K	+38.4% Added
UBSIUnited Bankshares Inc	0.09%	$1.1m	24.6K	+8.0% Added
PENGPenguin Solutions, Inc.	0.09%	$1.1m	14.8K	New
BRCBrady Corp	0.09%	$1.1m	12.3K	−37.8% Reduced
NPCENeuropace Inc	0.09%	$1.1m	70.3K	+3.1% Added

Company	Bought (value)	Shares
IPInternational Paper	$3.7m	97.0K
WERNWerner Enterprises Inc	$3.3m	75.9K
LINDLindblad Expeditions Holdings, Inc.	$3.3m	115.5K
POWLPowell Industries Inc	$3.2m	11.2K
CORTCorcept Therapeutics Inc	$2.8m	32.5K
FORMFormfactor Inc	$2.6m	16.4K
SIGISelective Insurance Group Inc	$2.6m	26.7K
HNGEHinge Health, Inc.	$2.5m	30.7K
CVLTCommvault Systems Inc	$2.5m	17.6K
CROXCrocs, Inc.	$2.3m	18.9K
KFRCKforce Inc	$2.1m	45.2K
WKCWorld Kinect Corp	$2.0m	59.7K
MIRMMirum Pharmaceuticals, Inc.	$2.0m	16.7K
APLDApplied Digital Corp.	$1.9m	51.3K
CALYCallaway Golf Co	$1.9m	99.5K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Sold (value)	Shares
STRLSterling Infrastructure, Inc.	−$11.7m	−14.0K
AAPLApple Inc.	−$6.7m	−23.2K
QCOMQualcomm	−$6.3m	−34.0K
AMZNAmazon	−$3.9m	−16.4K
SNEXStonex Group Inc.	−$3.9m	−32.8K
TRIPTripadvisor, Inc.	−$3.9m	−363.2K
ADIAnalog Devices	−$3.8m	−9.6K
PKGPackaging Corporation of America	−$3.6m	−17.0K
AEISAdvanced Energy Industries Inc	−$3.6m	−9.7K
SWKStanley Black & Decker	−$3.5m	−48.8K
INSMInsmed Inc	−$3.0m	−28.4K
ONON Semiconductor Corp	−$3.0m	−31.5K
BEBloom Energy	−$2.6m	−19.0K
ONTOOnto Innovation Inc.	−$2.5m	−6.6K
APHAmphenol	−$2.4m	−13.5K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Value last quarter	Shares
TRIPTripadvisor, Inc.	$3.9m	363.2K
PKGPackaging Corporation of America	$3.6m	17.0K
SWKStanley Black & Decker	$3.5m	48.8K
BEBloom Energy	$2.6m	19.0K
GSATGlobalstar, Inc.	$2.3m	34.7K
BELFABEL Fuse Inc	$2.3m	11.5K
KRMNKarman Holdings Inc.	$1.8m	22.2K
RKLBRocket Lab Corp	$1.7m	26.5K
WAYWaystar Holding Corp.	$1.5m	62.6K
IONSIonis Pharmaceuticals Inc	$1.5m	19.8K
ALGAlamo Group Inc	$1.4m	8.7K
LKQLKQ Corp	$1.2m	42.5K
AIRAAR Corp	$1.2m	10.7K
JBTMJBT Marel Corp	$1.1m	8.5K
GAPGAP Inc	$987,820	40.8K
SKYWSkywest Inc	$983,407	10.7K
SHAKShake Shack Inc.	$960,784	10.9K
TNDMTandem Diabetes Care Inc	$960,129	50.1K
CMCCommercial Metals Co	$899,642	14.6K
FRPTFreshpet, Inc.	$887,643	15.1K
SSRMSSR Mining Inc.	$879,413	29.9K
CCKCrown Holdings, Inc.	$847,513	8.5K
CTSHCognizant	$844,053	13.8K
LAURLaureate Education, Inc.	$838,668	24.1K
CICigna	$838,662	3.1K
GNTXGentex Corp	$773,293	35.4K
UNFIUnited Natural Foods Inc	$771,968	17.1K
INTUIntuit	$765,313	1.8K
ONTOnterris, Inc.	$758,883	34.7K
HEHawaiian Electric Industries Inc	$754,881	50.9K

Technology23.2%
Industrials18.6%
Financials14.6%
Health Care13.8%
Consumer Discretionary13.5%
Materials3.9%
Consumer Staples3.7%
Energy3.6%
Communication Services2.3%
Utilities1.7%
Real Estate1.1%

Share of the value held in companies we cover, by sector.

Period	Copy, a year	S&P 500	Sharpe	S&P 500	Biggest drop	Beta
Whole backtestAugust 14, 2015 to November 2, 2026	+13.8%	+14.0%	0.60	0.73	−34.9%	1.01
2018 onwardsJanuary 5, 2018 to November 2, 2026	+9.0%	+13.9%	0.39	0.66	−34.9%	0.98
Last three yearsNovember 3, 2023 to November 2, 2026	+16.7%	+21.8%	0.73	1.16	−21.7%	0.99
Last yearNovember 7, 2025 to November 2, 2026	+16.2%	+14.2%	0.79	0.84	−10.3%	0.90

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.