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
AMERICAN SUPERCONDUCTOR CORP030111207 · AMSC	COM	$1.7m	41,369
AMERICAN VANGUARD CORP030371108 · AVD	COM	$47,424	16,937
AMERIPRISE FINL INC03076c106	COM	$282,137	615
AMERIS BANCORP03076k108	COM	$1.1m	12,293
AMGEN INC031162100 · AMGN	COM	$4.2m	11,630
AMN HEALTHCARE SVCS INC001744101 · AMN	COM	$875,285	27,040
AMPHASTAR PHARMACEUTICALS INC03209r103	COM	$688,844	34,135
AMPHENOL CORP CL A032095101 · APH	COM	$1.9m	10,554
AMPLITECH GROUP INC NEW03211q200	COM	$99,417	14,284
AMPRIUS TECHNOLOGIES INC COMMO03214q108	COM	$1.6m	118,793
AMTECH SYS INC032332504 · ASYS	COM	$205,366	8,898
ANALOG DEVICES INC032654105 · ADI	COM	$4.1m	10,205
ANI PHARMACEUTICALS INC00182c103	COM	$453,469	5,478
APPFOLIO INC03783c100	COM	$372,333	2,322
APPLE INC037833100 · AAPL	COM	$10.4m	36,076
APPLIED DIGITAL CORP NEW038169207 · APLD	COM	$1.9m	51,307
APPLIED OPTOELECTRONICS INC03823u102	COM	$2.0m	13,588
APYX MEDICAL CORPORATION03837c106	COM	$1.7m	382,762
ARCOSA INC039653100	COM	$1.2m	8,076
ARCUTIS BIOTHERAPEUTICS INC03969k108	COM	$1.2m	46,816
ARDAGH METAL PACKAGING SAl02235106	COM	$802,638	169,333
ARGAN INC04010e109	COM	$23.8m	29,756
ARISTA NETWORKS INC040413205 · ANET	COM	$413,998	2,437
ARLO TECHNOLOGIES INC04206a101	COM	$1.0m	74,289
ARMANINO FOODS OF DISTINCTION042166801	COM	$215,394	20,811
ARMSTRONG WORLD INDUSTRIES INC04247x102	COM	$403,777	2,517
ARROW FINL CORP042744102 · AROW	COM	$818,816	19,976
ARTERIS INC04302a104	COM	$4.6m	93,679
ASPEN AEROGELS INC04523y105	COM	$98,663	15,562
ASSOCTD BANC-CORP045487105 · ASB	COM	$1.1m	34,883
ASTRONICS CORP046433108 · ATRO	COM	$2.4m	29,988
ASTRONICS CORP CL B046433207 · ATRO	COM	$361,304	4,754
ATKORE INTERNATIONAL GROUP INC047649108 · ATKR	COM	$997,417	13,117
ATLANTICUS HOLDINGS CORP04914y102	COM	$952,970	9,320
ATMUS FILTRATION TECHNOLOGIES04956d107	COM	$608,719	11,938
AVEANNA HEALTHCARE HOLDINGS IN05356f105	COM	$1.1m	125,954
AVEPOINT INC CL A053604104 · AVPT	COM	$1.3m	119,756
AXCELIS TECHNOLOGIES INC054540208 · ACLS	COM	$1.2m	6,446
AXOGEN INC05463x106	COM	$2.1m	45,855
AXSOME THERAPEUTICS INC05464t104	COM	$4.6m	18,644
BADGER METER INC056525108 · BMI	COM	$618,299	4,167
BANC OF CALIFORNIA05990k106	COM	$894,385	43,778
BANK OF AMERICA CORP060505104 · BAC	COM	$4.2m	72,847
BANKUNITED INC.06652k103	COM	$876,509	18,091
BANKWELL FINANCIAL GROUP INC06654a103	COM	$597,311	10,167
BARRETT BUSINESS SERVICES INC068463108 · BBSI	COM	$404,715	11,394
BEST BUY CO INC086516101 · BBY	COM	$4.5m	59,898
BGC GROUP INC CL A088929104 · BGC	COM	$9.1m	847,985
BIODESIX INC09075x207	COM	$1.8m	81,381
BIOVENTUS INC09075a108	COM	$160,168	16,967
BIRKENSTOCK HOLDING PLCm2029k104	COM	$1.4m	33,285
BLACKSKY TECHNOLOGY INC CL A N09263b207	COM	$1.2m	43,909
BLEND LABORATORIES INC CL A09352u108	COM	$714,005	417,547
BLUELINX HOLDINGS INC NEW09624h208	COM	$1.8m	29,087
BOBS DISC FURNITURE INC COM SH09681n106	COM	$1.6m	102,080
BOEING CO097023105 · BA	COM	$236,385	1,092
BOISE CASCADE LLC09739d100	COM	$218,606	2,816
BOOT BARN HOLDINGS INC099406100 · BOOT	COM	$1.5m	8,865
BRADY CORPORATION CL A104674106 · BRC	COM	$1.1m	12,251
BRAINSWAY LTD10501l106	COM	$3.1m	197,635
BRC INC CL A05601u105	COM	$980,682	883,497
BREAD FINANCIAL HOLDINGS INC C018581108 · BFH	COM	$1.2m	11,114
BRIDGEBIO PHARMA INC10806x102	COM	$3.3m	43,874
BRIGHTSPRING HEALTH SERVICES I10950a106	COM	$4.1m	59,500
BRISTOL MYERS SQUIBB CO110122108 · BMY	COM	$4.3m	74,128
BROADCOM INC11135f101	COM	$11.8m	31,150
BROADSTONE NET LEASE INC COM11135e203	COM	$2.5m	121,884
BROADWIND ENERGY INC11161t207	COM	$107,656	22,289
BWX TECHNOLOGIES INC05605h100	COM	$6.1m	31,307
CACTUS INC127203107 · WHD	COM	$1.2m	24,203
CALIFORNIA WATER SERVICE GRP130788102 · CWT	COM	$296,911	6,103
CALLAWAY GOLF COMPANY131193104 · CALY	COM	$4.8m	256,071
CAMDEN NATL CORP133034108 · CAC	COM	$1.2m	21,778
CARDINAL INFRASTRUCTURE GROUP14154a102	COM	$2.6m	27,838
CARLYLE GROUP INC COM14316j108	COM	$255,229	6,061
CARPENTER TECHNOLOGY144285103 · CRS	COM	$6.1m	9,847
CASEY'S GENERAL STORES INC147528103 · CASY	COM	$228,105	287
CATALYST PHARMACEUTICAL PARTNE14888u101	COM	$782,261	24,889
CATERPILLAR INC149123101 · CAT	COM	$1.2m	1,136
CATHAY GENERAL BANCORP149150104 · CATY	COM	$1.8m	28,646
CAVA GROUP INC COM148929102 · CAVA	COM	$1.1m	14,577
CBIZ INC124805102 · CBZ	COM	$332,317	10,359
CECO ENVIRONMENTAL CORP125141101	COM	$6.8m	74,674
CENTRAL PACIFIC FINANCIAL CORP154760409 · CPF	COM	$824,012	21,571
CENTURY ALUMINUM COMPANY156431108 · CENX	COM	$1.3m	27,676
CENTURY COMMUNITIES INC156504300 · CCS	COM	$998,367	13,932
CERUS CORP157085101 · CERS	COM	$29,866	10,228
CF INDS HLDGS INC125269100 · CF	COM	$223,990	2,069
CHEFS' WAREHOUSE HOLDINGS INC163086101 · CHEF	COM	$1.6m	17,111
CHENIERE ENERGY INC16411r208	COM	$341,306	1,428
CHESAPEAKE UTILITIES CORP165303108 · CPK	COM	$1.8m	14,972
CHEVRON CORP166764100 · CVX	COM	$3.1m	18,682
CHUBB LTDh1467j104	COM	$1.7m	5,070
CIMPRESS PLCg2143t103	COM	$834,347	8,204
CIPHER DIGITAL INC COM17253j106	COM	$426,667	17,415
CISCO SYSTEMS INC17275r102	COM	$4.3m	36,761
CITIGROUP INC172967424 · C	COM	$4.1m	29,554
CLEAR SECURE INC COM CL A18467v109	COM	$1.5m	27,045
CLIMB GLOBAL SOLUTIONS INC946760105 · CLMB	COM	$4.8m	207,864
CLOUDFLARE INC18915m107	COM	$3.0m	12,197

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.