CIK: 0001580018
Total reported value
$101.7M
Reporting period: 2026-03-31 · Number of holdings: 35
Gem Investment Advisors, LLC disclosed 35 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $101.7M and a quarterly turnover rate of 44.2%.
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Gem Investment Advisors, LLC's disclosed holdings carry a Herfindahl concentration index of 0.073 — mathematically equivalent to about 14 equally-sized positions, well below its 35 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 1.24), 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 0% 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 GRAL
-67.2% -$5.6M
Add LRMR
+204.1% $2.8M
Add QDEL
+196.0% $2.1M
Add LRN
0.0% $1.4M
Trim CEF
-20.2% -$1.8M
Add TRC
0.0% $951.7K
Showing top 34 holdings (of 35 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GTX | Garrett Motion INC | Stock-Consumer Disc | 18.18% | +1.08% | -1.70% | |
| 2 | CEF | Sprott Physical Gold And Sil | Stock-Other | 8.80% | -1.41% | -20.22% | |
| 3 | ABSI | Absci CORP | Stock-Other | 6.40% | -0.78% | — | |
| 4 | CF | Cf Industries Holdings INC | Stock-Materials | 6.38% | +6.38% | NEW | |
| 5 | TRC | Tejon Ranch Co | Stock-Other | 5.74% | +1.11% | — | |
| 6 | ORMP | Oramed Pharmaceuticals INC | Stock-Other | 5.48% | +0.08% | -17.95% | |
| 7 | LRN | Stride INC | Stock-Consumer Staples | 5.34% | +1.55% | — | |
| 8 | JOE | St Joe Co/the | Stock-Other | 5.01% | +0.44% | — | |
| 9 | QDEL | Quidelortho CORP | Stock-Other | 4.80% | +2.15% | +195.99% | |
| 10 | SHC | Sotera Health Co | Stock-Other | 4.61% | -0.87% | -0.26% | |
| 11 | PCYO | Pure Cycle CORP | Stock-Other | 4.45% | -0.24% | — | |
| 12 | BTC | Grayscale Bitcoin Mini ETF | ETF-Crypto | 4.29% | +4.29% | NEW | |
| 13 | LRMR | Larimar Therapeutics INC | Stock-Other | 3.78% | +2.77% | +204.15% | |
| 14 | PDFS | Pdf Solutions INC | Stock-Other | 3.39% | +0.54% | — | |
| 15 | FBTC | Fidelity Wise Origin Bitcoin | ETF-Crypto | 2.32% | +0.24% | +38.68% | |
| 16 | SNFCA | Security Natl Finl Corp-cl A | Stock-Other | 1.47% | +0.12% | — | |
| 17 | GRAL | Grail INC | Stock-Healthcare | 1.36% | -5.27% | -67.22% | |
| 18 | BSM | Black Stone Minerals LP | Stock-Other | 1.26% | +0.19% | — | |
| 19 | RMNI | Rimini Street INC | Stock-Other | 1.08% | -0.15% | — | |
| 20 | UHAL-B | U-haul Holding Co-non Voting | Stock-Other | 0.89% | -0.27% | -22.00% | |
| 21 | STHO | Star Holdings | Stock-Other | 0.88% | -0.17% | -11.71% | |
| 22 | ✓ | Alpha Tau Medical LTD | Stock-Other | 0.79% | +0.11% | -22.00% | |
| 23 | COUR | Coursera INC | Stock-Other | 0.74% | +0.74% | NEW | |
| 24 | SEG | Seaport Entertainment Group | Stock-Other | 0.63% | -0.09% | -22.65% | |
| 25 | AD | Array Digital Infrastructure | Stock-Other | 0.34% | -0.04% | — | |
| 26 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.29% | -0.09% | -22.03% | |
| 27 | SWIM | Latham Group INC | Stock-Other | 0.29% | -0.04% | — | |
| 28 | ATEX | Anterix INC | Stock-Other | 0.27% | +0.27% | NEW | |
| 29 | DRVN | Driven Brands Holdings INC | Stock-Other | 0.24% | -0.03% | — | |
| 30 | FTRE | Fortrea Holdings INC | Stock-Healthcare | 0.17% | +0.17% | NEW | |
| 31 | TDAY | USA Today Co INC | Stock-Other | 0.16% | +0.05% | — | |
| 32 | FPH | Five Point Holdings Llc-cl A | Stock-Other | 0.06% | -0.01% | — | |
| 33 | ACTG | Acacia Research CORP | Stock-Other | 0.05% | +0.01% | — | |
| 34 | ✓ | Entera Bio LTD | Stock-Other | 0.02% | -0.02% | — |
Performance for Q3 2026
+14.2%
Performance Last 4 Quarters
+26.3%
Based on 5 months of available history
Based on 88% of reported portfolio value with available pricing
Gem Investment Advisors, LLC's most significant position changes for 2026-03-31: Sold out: Echostar Corp-a (ECHO); New buy: Cf Industries Holdings INC (CF); New buy: Grayscale Bitcoin Mini ETF (BTC); Sold out: Ishares Bitcoin Trust ETF (IBIT); New buy: Coursera INC (COUR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | LRMR | Larimar Therapeutics INC | +2.8% | +204.15% | Add |
| 2 | QDEL | Quidelortho CORP | +2.2% | +195.99% | Add |
| 3 | LRN | Stride INC | +1.6% | — | Unchanged |
| 4 | TRC | Tejon Ranch Co | +1.1% | — | Unchanged |
| 5 | GTX | Garrett Motion INC | +1.1% | -1.70% | Trim |
| 6 | PDFS | Pdf Solutions INC | +0.5% | — | Unchanged |
| 7 | JOE | St Joe Co/the | +0.4% | — | Unchanged |
| 8 | FBTC | Fidelity Wise Origin Bitcoin | +0.2% | +38.68% | Add |
| 9 | BSM | Black Stone Minerals LP | +0.2% | — | Unchanged |
| 10 | SNFCA | Security Natl Finl Corp-cl A | +0.1% | — | Unchanged |
| 11 | ✓ | Alpha Tau Medical LTD | +0.1% | -22.00% | Trim |
| 12 | ORMP | Oramed Pharmaceuticals INC | +0.1% | -17.95% | Trim |
| 13 | TDAY | USA Today Co INC | +0.1% | — | Unchanged |
| 14 | ACTG | Acacia Research CORP | 0% | — | Unchanged |
| 15 | FPH | Five Point Holdings Llc-cl A | 0% | — | Unchanged |
| 16 | ✓ | Entera Bio LTD | 0% | — | Unchanged |
| 17 | DRVN | Driven Brands Holdings INC | 0% | — | Unchanged |
| 18 | AD | Array Digital Infrastructure | 0% | — | Unchanged |
| 19 | SWIM | Latham Group INC | 0% | — | Unchanged |
| 20 | SEG | Seaport Entertainment Group | -0.1% | -22.65% | Trim |
| 21 | BRK-B | Berkshire Hathaway Inc-cl B | -0.1% | -22.03% | Trim |
| 22 | RMNI | Rimini Street INC | -0.2% | — | Unchanged |
| 23 | STHO | Star Holdings | -0.2% | -11.71% | Trim |
| 24 | PCYO | Pure Cycle CORP | -0.2% | — | Unchanged |
| 25 | UHAL-B | U-haul Holding Co-non Voting | -0.3% | -22.00% | Trim |
| 26 | ABSI | Absci CORP | -0.8% | — | Unchanged |
| 27 | SHC | Sotera Health Co | -0.9% | -0.26% | Trim |
| 28 | CEF | Sprott Physical Gold And Sil | -1.4% | -20.22% | Trim |
| 29 | GRAL | Grail INC | -5.3% | -67.22% | Trim |
| 30 | ECHO | Echostar Corp-a | — | EXIT | Sold out |
| 31 | CF | Cf Industries Holdings INC | — | NEW | New buy |
| 32 | BTC | Grayscale Bitcoin Mini ETF | — | NEW | New buy |
| 33 | IBIT | Ishares Bitcoin Trust ETF | — | EXIT | Sold out |
| 34 | COUR | Coursera INC | — | NEW | New buy |
| 35 | ATEX | Anterix INC | — | NEW | New buy |
| 36 | FTRE | Fortrea Holdings INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-05-15 | 13F-HR | View on EDGAR |
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