FA
Forest Avenue Capital Management LP — Full 13F Portfolio Breakdown
Forest Avenue Capital Management LPCIK: 0001944889
Momentum followerQuality / disciplined sizingSector-focused
Total reported value
$1.7B
Reporting period: 2026-03-31 · Number of holdings: 26
Forest Avenue Capital Management LP disclosed 26 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.7B and a quarterly turnover rate of 73.7%.
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Personality snowflake
- Concentration
- 22.85
- Portfolio Stability
- 73.69
- Momentum/Contrarian
- 100
- Sector conviction
- 87.29
- Diversification
- 52
- Sizing Uniformity
- 92.9
Forest Avenue Capital Management LP's disclosed holdings carry a Herfindahl concentration index of 0.057 — mathematically equivalent to about 18 equally-sized positions, close to its 26 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.71), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Recent moves
Trim VIK
-28.8% -$54.8M
Trim CRS
-40.5% -$50.6M
Add PARR
+79.0% $60.9M
Trim WWD
-35.6% -$24.8M
Trim MTZ
-45.4% -$20.6M
Trim AGX
-59.8% -$17.5M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VST | Vistra CORP | Stock-Utilities | 11.57% | -0.35% | +15.66% | |
| 2 | VIK | Viking Holdings Ltd | Stock-Consumer Disc | 8.88% | -4.59% | -28.85% | |
| 3 | CRS | Carpenter Technology | Stock-Industrials | 8.77% | -4.30% | -40.48% | |
| 4 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 6.16% | +6.16% | NEW | |
| 5 | QXO | Qxo INC | Stock-Industrials | 5.33% | +0.58% | +23.77% | |
| 6 | CNM | Core & Main Inc-class A | Stock-Industrials | 5.30% | -1.13% | -3.82% | |
| 7 | PARR | Par Pacific Holdings INC | Stock-Energy | 5.27% | +3.44% | +78.96% | |
| 8 | MTZ | Mastec INC | Stock-Industrials | 5.15% | -1.92% | -45.38% | |
| 9 | ECG | Everus Construction Group | Stock-Industrials | 5.01% | +5.01% | NEW | |
| 10 | WWD | Woodward INC | Stock-Industrials | 4.72% | -2.15% | -35.63% | |
| 11 | SGI | Somnigroup International INC | Stock-Consumer Disc | 4.44% | +0.35% | +45.52% | |
| 12 | BTU | Peabody Energy CORP | Stock-Energy | 3.22% | +0.92% | +40.20% | |
| 13 | LNG | Cheniere Energy INC | Stock-Energy | 2.90% | +2.90% | NEW | |
| 14 | RRX | Regal Rexnord CORP | Stock-Industrials | 2.66% | +2.66% | NEW | |
| 15 | AGX | Argan INC | Stock-Industrials | 2.41% | -1.42% | -59.84% | |
| 16 | CEG | Constellation Energy | Stock-Utilities | 2.21% | +2.21% | NEW | |
| 17 | NCLH | Norwegian Cruise Line Holdings Ltd. | Stock-Consumer Disc | 2.19% | +2.19% | NEW | |
| 18 | LEG | Leggett & Platt INC | Stock-Consumer Disc | 2.17% | +1.28% | +200.14% | |
| 19 | VG | Venture Global Inc-cl A | Stock-Energy | 1.90% | +1.90% | NEW | |
| 20 | AR | Antero Resources CORP | Stock-Energy | 1.88% | +1.88% | NEW | |
| 21 | HII | Huntington Ingalls Industrie | Stock-Industrials | 1.87% | +1.87% | NEW | |
| 22 | DK | Delek US Holdings INC | Stock-Other | 1.75% | +1.75% | NEW | |
| 23 | WULF | Terawulf INC | Stock-Financials | 1.69% | +1.69% | NEW | |
| 24 | HCC | Warrior Met Coal INC | Stock-Materials | 1.58% | -0.79% | -29.85% | |
| 25 | CNR | Core Natural Resources INC | Stock-Energy | 0.94% | +0.94% | NEW | |
| 26 | NVX | Novonix Ltd-adr | Stock-Other | 0.05% | +0.05% | NEW |
Portfolio Performance
Performance for Q3 2026
+1.6%
Performance Last 4 Quarters
+26.8%
Based on 85% of reported portfolio value with available pricing
- Stdev
- +25.4%
- Beta
- +1.35
- Alpha
- -2.6%
- Max Drawdown
- -22.9%
- Annualized Perf
- +21.1%
- Batting Avg vs S&P
- +52.8%
- Sortino
- +1.54
- Stutzer
- +0.26
- Treynor
- +0.17
- Sterling
- +0.85
- Calmar
- +0.92
- Information Ratio
- +0.21
- Tracking Error
- +18.7%
- Stdev Down
- +14.6%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +58.2%
- Worst 12 Months
- -7.8%
- Efficiency Ratio
- +0.35
- Sharpe
- +0.88
- Stdev Sectors
- +14.4%
- Skewness
- -0.18
- Kurtosis
- -0.88
- Upside Potential
- +3.34
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 26 | $1.7B | 74 | |
| 2025-12-31 | 22 | $1.5B | 47 | |
| 2025-09-30 | 22 | $1.4B | 83 | |
| 2025-06-30 | 17 | $1.3B | 0 | |
| 2025-03-31 | 15 | $732.2M | 0 | |
| 2024-12-31 | 22 | $1.1B | 0 | |
| 2024-09-30 | 21 | $823.7M | 0 | |
| 2024-06-30 | 22 | $722.4M | 0 | |
| 2024-03-31 | 20 | $407.2M | 0 | |
| 2023-12-31 | 20 | $295.2M | 0 | |
| 2023-09-30 | 26 | $221.8M | 0 | |
| 2023-06-30 | 29 | $218.2M | 0 | |
| 2023-03-31 | 21 | $138.5M | 0 | |
| 2022-12-31 | 12 | $94.0M | 0 |
Holding changes this quarter
Forest Avenue Capital Management LP's most significant position changes for 2026-03-31: New buy: Invesco Qqq Trust Series 1 (QQQ); New buy: Everus Construction Group (ECG); Sold out: Royal Caribbean Cruises Ltd. (RCL); Sold out: Xpo INC (XPO); New buy: Cheniere Energy INC (LNG).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | PARR | Par Pacific Holdings INC | +3.4% | +78.96% | Add |
| 2 | LEG | Leggett & Platt INC | +1.3% | +200.14% | Add |
| 3 | BTU | Peabody Energy CORP | +0.9% | +40.20% | Add |
| 4 | QXO | Qxo INC | +0.6% | +23.77% | Add |
| 5 | SGI | Somnigroup International INC | +0.4% | +45.52% | Add |
| 6 | VST | Vistra CORP | -0.4% | +15.66% | Add |
| 7 | HCC | Warrior Met Coal INC | -0.8% | -29.85% | Trim |
| 8 | CNM | Core & Main Inc-class A | -1.1% | -3.82% | Trim |
| 9 | AGX | Argan INC | -1.4% | -59.84% | Trim |
| 10 | MTZ | Mastec INC | -1.9% | -45.38% | Trim |
| 11 | WWD | Woodward INC | -2.2% | -35.63% | Trim |
| 12 | CRS | Carpenter Technology | -4.3% | -40.48% | Trim |
| 13 | VIK | Viking Holdings Ltd | -4.6% | -28.85% | Trim |
| 14 | QQQ | Invesco Qqq Trust Series 1 | — | NEW | New buy |
| 15 | ECG | Everus Construction Group | — | NEW | New buy |
| 16 | RCL | Royal Caribbean Cruises Ltd. | — | EXIT | Sold out |
| 17 | XPO | Xpo INC | — | EXIT | Sold out |
| 18 | LNG | Cheniere Energy INC | — | NEW | New buy |
| 19 | RRX | Regal Rexnord CORP | — | NEW | New buy |
| 20 | BBWI | Bath & Body Works INC | — | EXIT | Sold out |
| 21 | CEG | Constellation Energy | — | NEW | New buy |
| 22 | NCLH | Norwegian Cruise Line Holdings Ltd. | — | NEW | New buy |
| 23 | VG | Venture Global Inc-cl A | — | NEW | New buy |
| 24 | AR | Antero Resources CORP | — | NEW | New buy |
| 25 | HII | Huntington Ingalls Industrie | — | NEW | New buy |
| 26 | FSLR | First Solar INC | — | EXIT | Sold out |
| 27 | DK | Delek US Holdings INC | — | NEW | New buy |
| 28 | WULF | Terawulf INC | — | NEW | New buy |
| 29 | LBRT | Liberty Energy INC | — | EXIT | Sold out |
| 30 | TLN | Talen Energy CORP | — | EXIT | Sold out |
| 31 | KNX | Knight-swift Transportation | — | EXIT | Sold out |
| 32 | CNR | Core Natural Resources INC | — | NEW | New buy |
| 33 | PUMP | Propetro Holding CORP | — | EXIT | Sold out |
| 34 | FRO | Frontline plc | — | EXIT | Sold out |
| 35 | NVX | Novonix Ltd-adr | — | NEW | New buy |
Filing History
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-13 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-13 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-13 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | Amendment | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-10 | 13F-HR | View on EDGAR |
FAQ
What is Forest Avenue Capital Management LP and what type of investor is it?
Forest Avenue Capital Management LP is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $1.7B, spread across 26 disclosed positions.
What are Forest Avenue Capital Management LP's largest equity positions?
Based on the latest 13F filing, Forest Avenue Capital Management LP's top holdings by market value are:
1. Vistra CORP (VST) — $195.0M (11.6%)
2. Viking Holdings Ltd (VIK) — $149.7M (8.9%)
3. Carpenter Technology (CRS) — $147.8M (8.8%)
4. Invesco Qqq Trust Series 1 (QQQ) — $103.9M (6.2%)
5. Qxo INC (QXO) — $89.8M (5.3%)
What changes did Forest Avenue Capital Management LP make in its most recent portfolio filing?
In the latest reported quarter, Forest Avenue Capital Management LP made 35 notable position adjustments: 13 new positions were initiated, 6 existing holdings were added to, 7 positions were partially reduced, and 9 were completely exited. The largest of these moves: New buy: Invesco Qqq Trust Series 1 (QQQ); New buy: Everus Construction Group (ECG); Sold out: Royal Caribbean Cruises Ltd. (RCL); Sold out: Xpo INC (XPO); New buy: Cheniere Energy INC (LNG)
What sectors does Forest Avenue Capital Management LP focus on?
Forest Avenue Capital Management LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Industrials: 44.8%
• Consumer Discretionary: 19.2%
• Energy: 17.5%
• Utilities: 15.0%
• Financials: 1.8%
• Materials: 1.7%
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