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
FIRST FINL BANKSHARES INC32020r109	COM	$542,424	15,677
FIRST FINL CORP320218100 · THFF	COM	$1.3m	17,385
FIRSTSERVICE CORPORATION33767e202	COM	$7.1m	49,915
FIVE9 INC338307101 · FIVN	COM	$1.5m	69,120
FLEXSTEEL INDS INC339382103 · FLXS	COM	$838,719	11,261
FLOWSERVE CORP34354p105	COM	$1.8m	24,495
FORMFACTOR INC346375108 · FORM	COM	$3.9m	24,456
FORUM ENERGY TECHNOLOGIES INC34984v209	COM	$1.8m	34,995
FRANKLIN ELECTRIC CO INC.353514102 · FELE	COM	$453,092	4,227
FRANKLIN FINANCIAL SERVICES CO353525108 · FRAF	COM	$822,001	13,131
FREEPORT MCMORAN COPPER35671d857	COM	$3.4m	53,617
FREIGHTCAR AMER INC357023100 · RAIL	COM	$1.1m	113,799
FREIGHTOS LTDg51405101	COM	$487,993	321,048
FREQUENCY ELECTRS INC358010106 · FEIM	COM	$2.0m	30,014
FTAI AVIATION LTD SHSg3730v105	COM	$2.5m	9,346
FUEL TECH INC359523107 · FTEK	COM	$40,145	18,165
FULTON FINANCIAL CORP360271100 · FULT	COM	$1.1m	44,917
NATL HEALTHCARE CORP635906100 · NHC	COM	$543,618	2,572
NAVAN INC CL A639193101 · NAVN	COM	$978,493	42,785
NAYAX LTDm7s750159	COM	$4.8m	73,567
NB BANCORP INC63945m107	COM	$7.7m	366,090
NETFLIX COM INC64110l106	COM	$3.9m	54,260
NETSCOUT SYSTEMS INC64115t104	COM	$973,473	22,353
NEUROCRINE BIOSCIENCES INC64125c109	COM	$270,499	1,605
NEUROONE MED TECHNOLOGIES CORP64130m308	COM	$31,230	10,273
NEUROPACE INC641288105 · NPCE	COM	$1.1m	70,334
NEWMARK GROUP INC65158n102	COM	$826,653	54,709
NEXSTAR BROADCASTING GROUP INC65336k103	COM	$224,666	1,258
NEXTERA ENERGY INC65339f101	COM	$3.2m	36,391
NEXTPOWER INC65290e101	COM	$1.3m	10,618
NEXXEN INTL LTD SHS NEWm8t80p204	COM	$287,732	31,864
NLIGHT INC65487k100	COM	$2.5m	36,476
NORTHEAST BANK PORTLAND ME66405s100	COM	$829,240	6,257
NORTHEAST UTILSg6683n103	COM	$327,200	24,491
NOVA MEASURING INSTRUMENTS LTDm7516k103	COM	$1.6m	2,993
NOVANTA INC67000b104	COM	$1.1m	6,674
NOVOCURE LTDg6674u108	COM	$1.3m	84,810
NPK INTERNATIONAL INC COM SHS651718504 · NPKI	COM	$178,876	11,243
NUVATION BIO INC CL A67080n101	COM	$1.3m	228,193
NVE CORP629445206 · NVEC	COM	$563,211	5,387
NVIDIA CORP67066g104	COM	$11.0m	55,004
NWPX INFRASTRUCTURE INC COM667746101 · NWPX	COM	$1.3m	8,450
OAK VALLEY BANCORP OAKDALE CA671807105 · OVLY	COM	$232,739	6,897
OCEAN POWER TECHNOLOGIES INC N674870506 · OPTT	COM	$12,643	48,257
OCEANEERING INTL INC675232102 · OII	COM	$2.9m	72,601
OCTAVE SPECIALTY GROUP INC023139884 · OSG	COM	$1.1m	181,037
OCULAR THERAPEUTIX INC67576a100	COM	$1.6m	161,460
OIL DRI CORP OF AMERICA677864100 · ODC	COM	$7.5m	73,459
OLLIES BARGAIN OUTLET HOLDINGS681116109 · OLLI	COM	$475,349	6,183
OMNIAB INC68218j103	COM	$26,846	10,913
OMNICELL INC68213n109	COM	$376,420	9,066
OMNICOM GROUP681919106 · OMC	COM	$3.5m	48,691
ON SEMICONDUCTOR CORP682189105 · ON	COM	$2.5m	26,803
ONCE UPON A FARM PBC68237f108	COM	$3.5m	170,852
ONEOK INC682680103 · OKE	COM	$3.6m	41,814
ONESPAWORLD HOLDINGS LIMITED Cp73684113	COM	$1.7m	60,160
ONTO INNOVATION INC683344105 · ONTO	COM	$3.7m	9,812
OPENLANE INC COM48238t109	COM	$1.1m	25,577
ORACLE CORP68389x105	COM	$2.7m	18,092
O'REILLY AUTOMOTIVE INC67103h107	COM	$215,675	2,342
ORION MARINE GROUP INC68628v308	COM	$3.3m	197,981
ORMAT TECHNOLOGIES INC686688102 · ORA	COM	$1.3m	11,945
OSI SYSTEMS INC671044105 · OSIS	COM	$768,730	3,515
OUSTER INC NEW68989m202	COM	$5.3m	84,904
PACIRA PHARMACEUTICALS INC695127100 · PCRX	COM	$778,047	30,668
PAGSEGURO DIGITAL LTDg68707101	COM	$627,056	69,288
PALVELLA THERAPEUTICS INC697947109 · PVLA	COM	$3.6m	23,490
PAR PETROLEUM CORPORATION69888t207	COM	$991,775	17,685
PARK AEROSPACE CORP70014a104	COM	$1.8m	48,414
PATRICK INDUSTRIES INC703343103 · PATK	COM	$1.1m	12,746
PATTERSON UTI ENERGY INC.703481101 · PTEN	COM	$216,033	23,533
PAYCOM SOFTWARE INC70432v102	COM	$522,201	4,155
PAYLOCITY HOLDING CORPORATION70438v106	COM	$226,726	2,169
PAYMENTUS HOLDINGS INC COM CL70439p108	COM	$743,886	30,790
PBF ENERGY INC69318g106	COM	$1.1m	23,890
PCB BANCORP69320m109	COM	$349,518	12,320
PDF SOLUTIONS INC693282105 · PDFS	COM	$772,814	10,917
PENGUIN SOLUTIONS INC706915105 · PENG	COM	$1.1m	14,804
PENNANT GROUP INC70805e109	COM	$304,098	8,230
PEPSICO INC713448108 · PEP	COM	$971,766	7,177
PERDOCEO EDUCATION CORPORATION71363p106	COM	$842,624	26,332
PFIZER INC717081103 · PFE	COM	$3.5m	145,221
PHILLIPS 66718546104 · PSX	COM	$3.3m	19,681
PIPER SANDLER COMPANIES724078209 · PIPR	COM	$1.2m	17,140
PITNEY BOWES INC724479100 · PBI	COM	$878,821	50,161
PJT PARTNERS INC69343t107	COM	$369,652	2,449
PLANET LABORATORIES PBC CL A72703x106	COM	$1.9m	58,843
PLEXUS CORP729132100 · PLXS	COM	$1.0m	3,388
PORTLAND GENERAL ELECTRIC CO736508847 · POR	COM	$2.5m	48,505
POWELL INDS INC739128106 · POWL	COM	$4.7m	16,374
POWER INTEGRATIONS INC739276103 · POWI	COM	$1.5m	17,655
POWER SOLUTIONS INTERNATIONAL73933g202	COM	$255,663	6,574
PRAXIS PRECISION MEDICINES INC74006w207	COM	$1.1m	3,171
PRECIGEN INC74017n105	COM	$1.4m	240,047
PRECISION OPTICS CORP INC MA740294400	COM	$56,125	11,005
PRICE T ROWE GROUP INC74144t108	COM	$340,502	2,995
PRIMIS FINANCIAL CORP74167b109	COM	$872,406	53,293
PRINCIPAL FINANCIAL GR74251v102	COM	$384,451	3,567
PRIORITY TECHNOLOGY HOLDINGS I74275g107	COM	$105,539	15,823
PROG HOLDINGS INC COM NPV74319r101	COM	$1.3m	27,781

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.