MF
Mhr Fund Management LLC Holdings Report (Q2 2026) — 13F Stock Portfolio
Mhr Fund Management LLCCIK: 0001277742
Concentrated strategySector-focusedMomentum follower
Total reported value
$1.9B
Reporting period: 2026-06-30 · Number of holdings: 11
MHR FUND MANAGEMENT LLC disclosed 11 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.9B and a quarterly turnover rate of 34.2%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 34.17
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 22
- Sizing Uniformity
- 83.06
Mhr Fund Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.328 — mathematically equivalent to about 3 equally-sized positions, well below its 11 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 1.69), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 5.5 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 4% 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd LION
0.0% $215.3M
Trim HAFN
+10.5% -$4.8M
Add STRZ
0.0% $49.7M
Trim IOVA
0.0% $18.8M
Trim APO
0.0% $2.8M
Trim PAX
+11.1% -$360.0K
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 | TSAT | Telesat CORP | Stock-Other | 47.56% | -0.16% | — | |
| 2 | LION | Lionsgate Studios CORP | Stock-Other | 30.03% | +3.64% | — | |
| 3 | HAFN | Hafnia Limited | Stock-Other | 7.07% | -3.21% | +10.54% | |
| 4 | IOVA | Iovance Biotherapeutics Inc | Stock-Other | 6.28% | -1.15% | — | |
| 5 | STRZ | Starz Entertainment CORP | Stock-Other | 4.31% | +1.90% | — | |
| 6 | APO | Apollo Global Management Inc | Stock-Financials | 2.46% | -0.79% | — | |
| 7 | GFF | Griffon CORP | Stock-Industrials | 1.22% | -0.05% | — | |
| 8 | PAX | Patria Investments Limited | Stock-Other | 0.57% | -0.26% | +11.11% | |
| 9 | WULF | Terawulf Inc | Stock-Financials | 0.39% | +0.07% | — | |
| 10 | OPTU | Optimum Communications Inc-a | Stock-Comm Services | 0.08% | -0.02% | — | |
| 11 | STM | Stmicroelectronics Nv-ny Shs | Stock-Tech | 0.03% | +0.03% | NEW |
Portfolio Performance
Performance for Q3 2026
-8.7%
Performance Last 4 Quarters
+96.5%
- Stdev
- +45.5%
- Beta
- +1.94
- Alpha
- -11.4%
- Max Drawdown
- -29.5%
- Annualized Perf
- +19.4%
- Batting Avg vs S&P
- +50%
- Sortino
- +1.1
- Stutzer
- +0.18
- Treynor
- +0.14
- Sterling
- +0.57
- Calmar
- +0.66
- Information Ratio
- +0.19
- Tracking Error
- +39.9%
- Stdev Down
- +25%
- Winning Months %
- +52.8%
- Losing Months %
- +47.2%
- Best 12 Months
- +167.9%
- Worst 12 Months
- -14.9%
- Efficiency Ratio
- +0.2
- Sharpe
- +0.6
- Stdev Sectors
- +27.4%
- Skewness
- +0.47
- Kurtosis
- +0.06
- Upside Potential
- +2.9
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 11 | $1.9B | 34 | ||
| 2026 Q1 | 10 | $1.4B | 19 | ||
| 2025 Q4 | 10 | $1.2B | 15 | ||
| 2025 Q3 | 10 | $1.0B | 89 | ||
| 2025 Q2 | 9 | $901.6M | 0 | ||
| 2025 Q1 | 9 | $832.0M | 100 | ||
| 2024 Q4 | 9 | $904.4M | 0 | ||
| 2024 Q3 | 9 | $917.0M | 0 | ||
| 2024 Q2 | 9 | $820.6M | 0 | ||
| 2024 Q1 | 10 | $1.0B | 0 | ||
| 2023 Q4 | 10 | $915.2M | 0 | ||
| 2023 Q3 | 10 | $815.7M | 0 | ||
| 2023 Q2 | 10 | $711.2M | 0 | ||
| 2023 Q1 | 10 | $743.2M | 0 | ||
| 2022 Q4 | 18 | $586.1M | 0 | ||
| 2022 Q3 | 29 | $532.3M | 0 | ||
| 2022 Q2 | 29 | $685.5M | 0 | ||
| 2022 Q1 | 29 | $1.0B | 0 | ||
| 2021 Q4 | 30 | $1.2B | 0 | ||
| 2021 Q3 | 31 | $941.5M | 0 | ||
| 2021 Q2 | 33 | $1.1B | 69 | ||
| 2021 Q1 | 44 | $1.6B | 21 | ||
| 2020 Q4 | 7 | $1.3B | 13 | ||
| 2020 Q3 | 8 | $1.3B | 32 | ||
| 2020 Q2 | 8 | $928.0M | 34 | ||
| 2020 Q1 | 8 | $658.4M | 58 | ||
| 2019 Q4 | 11 | $1.2B | 15 | ||
| 2019 Q3 | 11 | $1.2B | 22 | ||
| 2019 Q2 | 11 | $1.3B | 12 | ||
| 2019 Q1 | 11 | $1.4B | 11 | ||
| 2018 Q4 | 11 | $1.3B | 35 | ||
| 2018 Q3 | 11 | $1.9B | 8 | ||
| 2018 Q2 | 13 | $1.9B | 9 | ||
| 2018 Q1 | 13 | $1.9B | 20 | ||
| 2017 Q4 | 13 | $2.2B | 5 | ||
| 2017 Q3 | 13 | $2.3B | 28 | ||
| 2017 Q2 | 11 | $1.8B | 7 | ||
| 2017 Q1 | 10 | $1.6B | 9 | ||
| 2016 Q4 | 10 | $1.8B | 98 | ||
| 2016 Q3 | 7 | $1.4B | 20 | ||
| 2016 Q2 | 8 | $1.2B | 6 | ||
| 2016 Q1 | 8 | $1.2B | 31 | ||
| 2015 Q4 | 8 | $1.5B | 36 | ||
| 2015 Q3 | 7 | $2.1B | 15 | ||
| 2015 Q2 | 7 | $2.5B | 15 | ||
| 2015 Q1 | 7 | $2.8B | 9 | ||
| 2014 Q4 | 7 | $2.9B | 7 | ||
| 2014 Q3 | 7 | $2.9B | 14 | ||
| 2014 Q2 | 7 | $2.9B | 7 | ||
| 2014 Q1 | 6 | $2.7B | 33 | ||
| 2013 Q4 | 8 | $3.5B | 18 | ||
| 2013 Q3 | 8 | $3.7B | 27 | ||
| 2013 Q2 | 9 | $2.9B | 0 |
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Holding changes this quarter
Mhr Fund Management LLC's most significant position changes for 2026-06-30: New buy: Stmicroelectronics Nv-ny Shs (STM); Add: Hafnia Limited (HAFN) — shares +10.54%; Add: Patria Investments Limited (PAX) — shares +11.11%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | LION | Lionsgate Studios CORP | +3.6% | — | Unchanged |
| 2 | STRZ | Starz Entertainment CORP | +1.9% | — | Unchanged |
| 3 | WULF | Terawulf Inc | +0.1% | — | Unchanged |
| 4 | STM | Stmicroelectronics Nv-ny Shs | 0% | NEW | New buy |
| 5 | OPTU | Optimum Communications Inc-a | 0% | — | Unchanged |
| 6 | GFF | Griffon CORP | -0.1% | — | Unchanged |
| 7 | TSAT | Telesat CORP | -0.2% | — | Unchanged |
| 8 | PAX | Patria Investments Limited | -0.3% | +11.11% | Add |
| 9 | APO | Apollo Global Management Inc | -0.8% | — | Unchanged |
| 10 | IOVA | Iovance Biotherapeutics Inc | -1.2% | — | Unchanged |
| 11 | HAFN | Hafnia Limited | -3.2% | +10.54% | Add |
Filing History
FAQ
What is Mhr Fund Management LLC and what type of investor is it?
Mhr Fund Management LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.9B, spread across 11 disclosed positions.
What are Mhr Fund Management LLC's largest equity positions?
Based on the latest 13F filing, Mhr Fund Management LLC's top holdings by market value are:
1. Telesat CORP (TSAT) — $912.9M (47.6%)
2. Lionsgate Studios CORP (LION) — $576.4M (30.0%)
3. Hafnia Limited (HAFN) — $135.8M (7.1%)
4. Iovance Biotherapeutics Inc (IOVA) — $120.5M (6.3%)
5. Starz Entertainment CORP (STRZ) — $82.6M (4.3%)
What changes did Mhr Fund Management LLC make in its most recent portfolio filing?
In the latest quarter, Mhr Fund Management LLC was primarily adding exposure — initiating 1 new positions and adding to 2 existing holdings. The largest of these moves: New buy: Stmicroelectronics Nv-ny Shs (STM); Add: Hafnia Limited (HAFN) — shares +10.54%; Add: Patria Investments Limited (PAX) — shares +11.11%
What sectors does Mhr Fund Management LLC focus on?
Mhr Fund Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 68.2%
• Industrials: 29.1%
• Communication Services: 1.9%
• Information Technology: 0.7%
Investment Profile
Mhr Fund Management LLC returned an annualized 19.4% over the trailing 36 months — underperforming the S&P 500 by 11.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.94 (more volatile than the market) and a 50% quarterly batting average against the index.
Its portfolio is concentrated and moderately active, with 68.2% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 34 over the past 4 quarters — a shift toward more active trading.
It has added to its TSAT position over the past two quarters (+$388.1M, now $912.9M), while trimming PAX over the same stretch (-$1.7M, still holding $11.0M).
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Developer Access
Access Mhr Fund Management LLC's institutional profile programmatically:
REST API
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