CIK: 0001142941
Total reported value
$899.7M
Reporting period: 2026-03-31 · Number of holdings: 307
DENALI ADVISORS LLC disclosed 307 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $899.7M and a quarterly turnover rate of 26.4%.
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Denali Advisors LLC's disclosed holdings carry a Herfindahl concentration index of 0.010 — mathematically equivalent to about 99 equally-sized positions, well below its 307 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.45), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 61% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim MSFT
+0.3% -$7.8M
Add G42706104
+353.5% $5.9M
Add GBX
+494.3% $5.9M
Trim PLAB
-59.0% -$4.8M
Trim PFBC
-82.6% -$4.0M
Add WS
+194.6% $3.7M
Showing top 200 holdings (of 307 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 4.24% | -0.26% | +0.58% | |
| 2 | AAPL | Apple INC | Stock-Tech | 3.34% | -0.23% | +0.16% | |
| 3 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.94% | -0.27% | +0.01% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 2.87% | -0.86% | +0.34% | |
| 5 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.89% | -0.20% | +0.01% | |
| 6 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.51% | -0.23% | +0.35% | |
| 7 | AVGO | Broadcom INC | Stock-Tech | 1.41% | — | +0.60% | |
| 8 | WMT | Walmart INC | Stock-Consumer Staples | 1.15% | — | -0.17% | |
| 9 | T | At&t INC | Stock-Comm Services | 1.14% | +0.24% | +9.07% | |
| 10 | NFLX | Netflix INC | Stock-Comm Services | 1.10% | — | -0.10% | |
| 11 | IMKTA | Ingles Markets Inc-class A | Stock-Other | 0.97% | +0.23% | -0.33% | |
| 12 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.95% | — | -0.12% | |
| 13 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.95% | — | +38.25% | |
| 14 | MBIN | Merchants Bancorp/in | Stock-Other | 0.93% | — | -18.06% | |
| 15 | NOG | Northern Oil And Gas INC | Stock-Energy | 0.93% | +0.18% | -8.87% | |
| 16 | CAH | Cardinal Health INC | Stock-Healthcare | 0.92% | — | +9.98% | |
| 17 | SRCE | 1st Source CORP | Stock-Other | 0.92% | — | -0.83% | |
| 18 | TSLA | Tesla INC | Stock-Consumer Disc | 0.91% | -0.19% | +0.05% | |
| 19 | ✓ | Stock-Other | 0.90% | — | +1.57% | ||
| 20 | CBT | Cabot CORP | Stock-Materials | 0.89% | +0.29% | +28.14% | |
| 21 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 0.89% | — | +0.05% | |
| 22 | FIZZ | National Beverage CORP | Stock-Other | 0.88% | — | +6.18% | |
| 23 | FRME | First Merchants CORP | Stock-Other | 0.88% | — | — | |
| 24 | CATY | Cathay General Bancorp | Stock-Other | 0.88% | — | +0.38% | |
| 25 | OTTR | Otter Tail CORP | Stock-Industrials | 0.88% | — | +1.36% | |
| 26 | IBOC | International Bancshares Crp | Stock-Other | 0.88% | — | +5.30% | |
| 27 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.87% | -0.19% | +0.07% | |
| 28 | FFBC | First Financial Bancorp | Stock-Other | 0.87% | — | -9.51% | |
| 29 | NMIH | Nmi Holdings INC | Stock-Financials | 0.87% | — | +5.32% | |
| 30 | GEF | Greif Inc-cl A | Stock-Other | 0.86% | — | -0.05% | |
| 31 | MO | Altria Group INC | Stock-Consumer Staples | 0.86% | — | +2.42% | |
| 32 | RUSHA | Rush Enterprises Inc-cl A | Stock-Consumer Disc | 0.86% | — | -21.44% | |
| 33 | EFSC | Enterprise Financial Service | Stock-Other | 0.85% | — | — | |
| 34 | ✓ | Hamilton Insurance Group LTD | Stock-Other | 0.83% | +0.66% | +353.53% | |
| 35 | ACT | Enact Holdings INC | Stock-Other | 0.83% | — | -0.19% | |
| 36 | GRBK | Green Brick Partners INC | Stock-Other | 0.82% | — | -0.35% | |
| 37 | TNK | Teekay Tankers Ltd. | Stock-Other | 0.82% | +0.29% | +11.66% | |
| 38 | MHO | M/i Homes INC | Stock-Consumer Disc | 0.81% | — | +7.43% | |
| 39 | FOR | Forestar Group INC | Stock-Other | 0.80% | — | -0.40% | |
| 40 | WLFC | Willis Lease Finance CORP | Stock-Other | 0.77% | +0.28% | +22.42% | |
| 41 | GBX | Greenbrier Companies INC | Stock-Other | 0.77% | +0.65% | +494.33% | |
| 42 | FG | F&g Annuities & Life INC | Stock-Financials | 0.77% | — | +13.22% | |
| 43 | CAT | Caterpillar INC | Stock-Industrials | 0.76% | — | +0.03% | |
| 44 | ARCC | Ares Capital CORP | Stock-Financials | 0.76% | — | -3.78% | |
| 45 | SD | Sandridge Energy INC | Stock-Other | 0.74% | — | +0.36% | |
| 46 | CMRE | Costamare Inc. | Stock-Other | 0.73% | — | -21.53% | |
| 47 | STBA | S & T Bancorp INC | Stock-Other | 0.71% | — | +19.43% | |
| 48 | CCSI | Consensus Cloud Solution | Stock-Other | 0.71% | — | -1.43% | |
| 49 | SM | Sm Energy Co | Stock-Energy | 0.70% | — | -32.40% | |
| 50 | WM | Waste Management INC | Stock-Industrials | 0.68% | — | -0.10% |
Performance for Q3 2026
+2.4%
Performance Last 4 Quarters
+19.7%
Based on 74% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 307 | $899.7M | 26 | |
| 2025-12-31 | 321 | $901.0M | 29 | |
| 2025-09-30 | 297 | $885.1M | 43 | |
| 2025-06-30 | 288 | $960.1M | 0 | |
| 2025-03-31 | 274 | $878.6M | 100 | |
| 2024-12-31 | 271 | $954.0M | 0 | |
| 2024-09-30 | 271 | $930.7M | 0 | |
| 2024-06-30 | 175 | $365.4M | 0 | |
| 2024-03-31 | 450 | $339.6M | 0 | |
| 2023-12-31 | 451 | $327.3M | 0 | |
| 2023-09-30 | 468 | $284.8M | 0 | |
| 2023-06-30 | 469 | $284.8M | 0 | |
| 2023-03-31 | 436 | $240.3M | 0 | |
| 2022-12-31 | 415 | $238.5M | 0 | |
| 2022-09-30 | 357 | $211.5M | 0 | |
| 2022-06-30 | 378 | $229.4M | 0 | |
| 2022-03-31 | 379 | $259.0M | 0 | |
| 2021-12-31 | 381 | $267.1M | 0 | |
| 2021-09-30 | 289 | $239.1M | 0 | |
| 2021-06-30 | 273 | $261.0M | 58 | |
| 2021-03-31 | 366 | $325.3M | 96 | |
| 2020-12-31 | 397 | $585.0M | 44 | |
| 2020-09-30 | 358 | $503.8M | 42 | |
| 2020-06-30 | 361 | $516.2M | 51 | |
| 2020-03-31 | 326 | $460.2M | 62 | |
| 2019-12-31 | 312 | $705.5M | 50 | |
| 2019-09-30 | 299 | $715.3M | 44 | |
| 2019-06-30 | 300 | $668.8M | 42 | |
| 2019-03-31 | 261 | $624.8M | 32 | |
| 2018-12-31 | 250 | $598.7M | 46 | |
| 2018-09-30 | 252 | $680.6M | 42 | |
| 2018-06-30 | 274 | $665.3M | 40 | |
| 2018-03-31 | 264 | $623.6M | 38 | |
| 2017-12-31 | 268 | $644.6M | 41 | |
| 2017-09-30 | 265 | $604.5M | 39 | |
| 2017-06-30 | 265 | $611.9M | 43 | |
| 2017-03-31 | 271 | $680.6M | 47 | |
| 2016-12-31 | 278 | $575.8M | 45 | |
| 2016-09-30 | 282 | $657.6M | 43 | |
| 2016-06-30 | 284 | $580.5M | 54 | |
| 2016-03-31 | 283 | $457.3M | 39 | |
| 2015-12-31 | 282 | $447.2M | 39 | |
| 2015-09-30 | 291 | $432.8M | 40 | |
| 2015-06-30 | 288 | $459.7M | 52 | |
| 2015-03-31 | 268 | $436.5M | 50 | |
| 2014-12-31 | 251 | $353.8M | 42 | |
| 2014-09-30 | 239 | $346.8M | 38 | |
| 2014-06-30 | 263 | $364.9M | 44 | |
| 2014-03-31 | 268 | $346.7M | 35 | |
| 2013-12-31 | 261 | $318.4M | 41 | |
| 2013-09-30 | 214 | $290.2M | 48 | |
| 2013-06-30 | 220 | $268.3M | — |
Denali Advisors LLC's most significant position changes for 2026-03-31: Sold out: Constellation Energy (CEG); New buy: Chevron CORP (CVX); New buy: Primoris Services CORP (PRIM); New buy: Prog Holdings INC (PRG); Sold out: Dnow INC (DNOW).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | Hamilton Insurance Group LTD | +0.7% | +353.53% | Add |
| 2 | GBX | Greenbrier Companies INC | +0.7% | +494.33% | Add |
| 3 | WS | Worthington Steel INC | +0.4% | +194.56% | Add |
| 4 | MCY | Mercury General CORP | +0.3% | +855.35% | Add |
| 5 | SAFE | Safehold INC | +0.3% | +236.89% | Add |
| 6 | TNK | Teekay Tankers Ltd. | +0.3% | +11.66% | Add |
| 7 | CBT | Cabot CORP | +0.3% | +28.14% | Add |
| 8 | MGRC | Mcgrath Rentcorp | +0.3% | +703.03% | Add |
| 9 | WLFC | Willis Lease Finance CORP | +0.3% | +22.42% | Add |
| 10 | T | At&t INC | +0.2% | +9.07% | Add |
| 11 | FTI | TechnipFMC plc | +0.2% | +596.21% | Add |
| 12 | IMKTA | Ingles Markets Inc-class A | +0.2% | -0.33% | Trim |
| 13 | INSW | International Seaways, Inc. | +0.2% | +113.61% | Add |
| 14 | BY | Byline Bancorp INC | +0.2% | +33.13% | Add |
| 15 | NOG | Northern Oil And Gas INC | +0.2% | -8.87% | Trim |
| 16 | DLX | Deluxe CORP | +0.2% | +210.04% | Add |
| 17 | REPX | Riley Exploration Permian In | -0.2% | -81.43% | Trim |
| 18 | TSLA | Tesla INC | -0.2% | +0.05% | Add |
| 19 | PLTR | Palantir Technologies Inc-a | -0.2% | +0.07% | Add |
| 20 | ORCL | Oracle CORP | -0.2% | +0.33% | Add |
| 21 | AMZN | Amazon.com INC | -0.2% | +0.01% | Add |
| 22 | LNG | Cheniere Energy INC | -0.2% | -61.57% | Trim |
| 23 | HRMY | Harmony Biosciences Holdings | -0.2% | -38.77% | Trim |
| 24 | AAPL | Apple INC | -0.2% | +0.16% | Add |
| 25 | SCSC | Scansource INC | -0.2% | -43.99% | Trim |
| 26 | META | Meta Platforms Inc-class A | -0.2% | +0.35% | Add |
| 27 | IBEX | IBEX Limited | -0.2% | -43.71% | Trim |
| 28 | NVDA | Nvidia CORP | -0.3% | +0.58% | Add |
| 29 | GOOG | Alphabet Inc-cl C | -0.3% | +0.01% | Add |
| 30 | HOOD | Robinhood Markets INC - A | -0.3% | +0.19% | Add |
| 31 | PFBC | Preferred Bank/los Angeles | -0.4% | -82.58% | Trim |
| 32 | PLAB | Photronics INC | -0.5% | -58.98% | Trim |
| 33 | MSFT | Microsoft CORP | -0.9% | +0.34% | Add |
| 34 | CEG | Constellation Energy | — | EXIT | Sold out |
| 35 | CVX | Chevron CORP | — | NEW | New buy |
| 36 | PRIM | Primoris Services CORP | — | NEW | New buy |
| 37 | PRG | Prog Holdings INC | — | NEW | New buy |
| 38 | DNOW | Dnow INC | — | EXIT | Sold out |
| 39 | HPK | Highpeak Energy INC | — | EXIT | Sold out |
| 40 | HRTG | Heritage Insurance Holdings | — | EXIT | Sold out |
| 41 | WSFS | Wsfs Financial CORP | — | EXIT | Sold out |
| 42 | KOP | Koppers Holdings INC | — | NEW | New buy |
| 43 | NHC | National Healthcare CORP | — | NEW | New buy |
| 44 | TTAM | Titan America SA | — | NEW | New buy |
| 45 | BZH | Beazer Homes USA INC | — | EXIT | Sold out |
| 46 | TEX | Terex CORP | — | EXIT | Sold out |
| 47 | VAL | Valaris Limited | — | EXIT | Sold out |
| 48 | INVA | Innoviva INC | — | EXIT | Sold out |
| 49 | FBRT | Franklin Bsp Realty Trust In | — | NEW | New buy |
| 50 | AZN | AstraZeneca PLC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-08 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-03 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-07 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-30 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-05 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-04 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-09 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-19 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-19 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-19 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-18 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-21 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-09 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-25 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-20 | Amendment | View on EDGAR |
| 2022-06-30 | 2022-07-18 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-19 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-21 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-20 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-26 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-20 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-23 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-23 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-30 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-09 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-08 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-12 | Amendment | View on EDGAR |
| 2019-03-31 | 2019-04-09 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-15 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-09 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-11 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-23 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-24 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-19 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-07 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-10 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-26 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-14 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-04-11 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-07 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-10-06 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-09 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-04-17 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-01-07 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-10-10 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-07-16 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-04-17 | Amendment | View on EDGAR |
| 2014-03-31 | 2014-04-10 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-01-29 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-09 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-07-30 | 13F-HR | View on EDGAR |
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