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
TG THERAPEUTICS INC88322q108	COM	$793,169	14,437
TIDEWATER INC88642r109	COM	$641,180	9,623
TIMBERLAND BANCORP INC887098101 · TSBK	COM	$224,095	5,001
TJX COMPANIES INC872540109 · TJX	COM	$295,122	1,948
TONIX PHARMACEUTICALS HOLDING890260839 · TNXP	COM	$709,711	55,620
TOWER SEMICONDUCTOR LTDm87915274	COM	$4.0m	15,186
TRANSACT TECHNOLOGIES892918103 · TACT	COM	$59,533	10,194
TRANSMISSION HOLDINGS INC01973r101	COM	$234,950	2,084
TRAVERE THERAPEUTICS INC89422g107	COM	$5.0m	87,833
TRICO BANCSHARES896095106 · TCBK	COM	$379,858	7,054
TRINITY INDS INC896522109 · TRN	COM	$778,154	22,503
TRIUMPH BANCORP INC89679e300	COM	$10.1m	132,714
TRUIST FINL CORP COM89832q109	COM	$3.6m	71,948
TTM TECHNOLOGIES87305r109	COM	$678,883	3,630
TUTOR PERINI CORP901109108 · TPC	COM	$950,338	11,454
U.S. PHYSICAL THERAPY INC90337l108	COM	$659,877	9,608
UBER TECHNOLOGIES INC COM90353t100	COM	$2.4m	33,847
UFP INDUSTRIES INC90278q108	COM	$507,781	5,596
UFP TECHNOLOGIES INC902673102 · UFPT	COM	$9.4m	35,301
ULTRA CLEAN HLDGS INC90385v107	COM	$5.9m	41,719
UMB FINANCIAL CORP902788108 · UMBF	COM	$1.4m	9,553
UNITED BANKSHARES INC909907107 · UBSI	COM	$1.1m	24,583
UNITED PARCEL SERVICE CL B911312106 · UPS	COM	$3.7m	34,513
UNITED RENTALS INC911363109 · URI	COM	$462,219	408
UNITEDHEALTH GROUP INC91324p102	COM	$1.3m	3,017
UNITY BANCORP INC913290102 · UNTY	COM	$799,945	13,630
UNITY SOFTWARE INC COM91332u101	COM	$974,407	34,094
UNIVERSAL INSURANCE HOLDINGS I91359v107	COM	$951,859	23,014
UNIVERSAL TECHNICAL INST913915104 · UTI	COM	$1.0m	23,670
UNIVEST CORP915271100 · UVSP	COM	$935,769	21,389
UPWORK INC91688f104	COM	$479,287	57,331
URANIUM ROYALTY CORP91702v101	COM	$57,607	20,722
USA RARE EARTH INC91733p107	COM	$784,972	36,375
USCB FINANCIAL HOLDINGS INC CL90355n101	COM	$316,434	15,466
V2X INC COM92242t101	COM	$1.0m	13,828
VALLEY NATL BANCORP919794107 · VLY	COM	$1.1m	75,804
VAREX IMAGING CORPORATION92214x106	COM	$145,592	13,959
VARONIS SYSTEMS INC922280102 · VRNS	COM	$478,638	11,407
VAXCYTE INC COM92243g108	COM	$1.3m	21,645
VEEVA SYSTEMS INC922475108 · VEEV	COM	$2.3m	12,875
VERACYTE INC92337f107	COM	$1.9m	32,190
VERICEL CORPORATION92346j108	COM	$2.3m	52,020
VERIZON COMMUNICATIONS INC92343v104	COM	$3.6m	85,485
VERTIV HOLDINGS CO CL A92537n108	COM	$734,930	2,195
VIASAT INC92552v100	COM	$1.7m	18,770
VIAVI SOLUTIONS INC925550105 · VIAV	COM	$3.2m	67,812
VICTORIAS SECRET AND CO926400102 · VSXY	COM	$2.5m	29,439
VIEMED HEALTHCARE INC92663r105	COM	$165,391	14,508
VISA INC92826c839	COM	$1.6m	4,583
VISHAY INTERTECHNOLOGY INC928298108 · VSH	COM	$855,156	15,901
VISHAY PRECISION GROUP INC92835k103	COM	$1.1m	7,283
VISTANCE NETWORKS INC COM20337x109	COM	$848,272	66,375
VISTRA CORP92840m102	COM	$449,399	2,833
VSE CORP918284100 · VSEC	COM	$13.3m	58,080
VULCAN MATERIALS929160109 · VMC	COM	$502,992	1,705
WASTE CONNECTIONS INC94106b101	COM	$258,703	1,552
WD 40 CO929236107 · WDFC	COM	$307,961	1,264
WEC ENERGY GROUP INC92939u106	COM	$1.1m	9,633
WELLS FARGO & CO949746101 · WFC	COM	$757,726	9,169
WERNER ENTERPRISES INC950755108 · WERN	COM	$4.2m	97,443
WESBANCO INC950810101 · WSBC	COM	$510,356	13,076
WESTERN NEW ENGLAND BANCORP IN958892101 · WNEB	COM	$167,010	11,679
WILLDAN GROUP INC96924n100	COM	$2.0m	25,233
WILLIAMS COS INC969457100 · WMB	COM	$1.3m	17,467
WILLIAMS SONOMA INC969904101 · WSM	COM	$426,806	1,831
WILLSCOT HLDGS CORP971378104 · WSC	COM	$755,555	26,180
WINGSTOP INC974155103 · WING	COM	$381,155	2,198
WINMARK CORP974250102 · WINA	COM	$7.6m	17,925
WINTRUST FINANCIAL CORP97650w108	COM	$3.3m	20,636
WORLD FUEL SERVICES CORP.981475106 · WKC	COM	$2.0m	59,706
WSFS FINL CORP929328102 · WSFS	COM	$1.0m	13,097
XENON PHARMACEUTICALS INC COM98420n105	COM	$3.3m	54,226
XERIS BIOPHARMA HOLDINGS INC98422e103	COM	$1.9m	241,341
XOMETRY INC CLASS A COM98423f109	COM	$5.3m	54,861
XPO LOGISTICS INC983793100 · XPO	COM	$243,679	1,187
YETI HOLDINGS INC98585x104	COM	$5.4m	108,333
ZETA GLOBAL HOLDINGS CORP CL A98956a105	COM	$3.6m	183,356
ZIFF DAVIS INC48123v102	COM	$207,280	3,958

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.