PA
Paragon Associates & Paragon Associates Ii Joint Venture Holdings Report (Q1 2026) — 13F Stock Portfolio
Paragon Associates & Paragon Associates Ii Joint VentureCIK: 0001047859
Sector-focusedMomentum followerQuality / disciplined sizing
Total reported value
$73.6M
Reporting period: 2026-03-31 · Number of holdings: 14
PARAGON ASSOCIATES & PARAGON ASSOCIATES II JOINT VENTURE disclosed 14 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $73.6M and a quarterly turnover rate of 77.7%.
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Personality snowflake
- Concentration
- 38.61
- Portfolio Stability
- 77.74
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 28
- Sizing Uniformity
- 93.85
Paragon Associates & Paragon Associates Ii Joint Venture's disclosed holdings carry a Herfindahl concentration index of 0.097 — mathematically equivalent to about 10 equally-sized positions, close to its 14 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 0.62), 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.
Sector classification currently covers about 29% 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.govTrim AEM
-49.9% -$3.4M
Trim DMAC
0.0% -$1.0M
Trim NVGS
0.0% $594.0K
Trim CDNA
+33.3% $1.6M
Trim NPKI
-6.3% $665.8K
Trim IRIX
0.0% -$130.0K
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 | CDE | Coeur Mining Inc | Stock-Materials | 16.58% | +16.58% | NEW | |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 13.26% | +13.26% | NEW | |
| 3 | CDNA | Caredx Inc | Stock-Other | 11.80% | -2.80% | +33.33% | |
| 4 | DMAC | Diamedica Therapeutics Inc | Stock-Other | 8.05% | -6.34% | — | |
| 5 | NVGS | Navigator Holdings Ltd. | Stock-Other | 7.87% | -2.87% | — | |
| 6 | NPKI | Npk International Inc | Stock-Other | 7.38% | -2.47% | -6.25% | |
| 7 | STKL | Sunopta Inc | Stock-Other | 7.08% | +0.80% | +0.52% | |
| 8 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 6.90% | -10.58% | -49.90% | |
| 9 | WES | Western Midstream Partners L | Stock-Energy | 5.59% | +5.59% | NEW | |
| 10 | EPSN | Epsilon Energy LTD | Stock-Other | 5.44% | -0.79% | — | |
| 11 | IAUX | I-80 Gold CORP | Stock-Other | 5.16% | +0.63% | +66.67% | |
| 12 | PROF | Profound Medical CORP | Stock-Other | 2.43% | +2.43% | NEW | |
| 13 | IRIX | Iridex CORP | Stock-Other | 1.37% | -0.99% | — | |
| 14 | NEXM | Nexmetals Mining CORP | Stock-Other | 1.08% | +1.08% | NEW |
Portfolio Performance
Performance for Q3 2026
+22.6%
Performance Last 4 Quarters
+56.8%
- Stdev
- +16.9%
- Beta
- +0.52
- Alpha
- +21.4%
- Max Drawdown
- -10.1%
- Annualized Perf
- +35.2%
- Batting Avg vs S&P
- +52.8%
- Sortino
- +4.5
- Stutzer
- +0.55
- Treynor
- +0.61
- Sterling
- +2.28
- Calmar
- +3.47
- Information Ratio
- +0.71
- Tracking Error
- +16.7%
- Stdev Down
- +7.1%
- Winning Months %
- +72.2%
- Losing Months %
- +27.8%
- Best 12 Months
- +70%
- Worst 12 Months
- +5.8%
- Efficiency Ratio
- +0.96
- Sharpe
- +1.89
- Stdev Sectors
- +30.8%
- Skewness
- +0.01
- Kurtosis
- +0.12
- Upside Potential
- +5.87
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q1 | 14 | $73.6M | 78 | ||
| 2025 Q4 | 12 | $48.4M | 48 | ||
| 2025 Q3 | 12 | $56.1M | 56 | ||
| 2025 Q2 | 15 | $63.0M | 0 | ||
| 2025 Q1 | 13 | $42.7M | 100 | ||
| 2024 Q4 | 12 | $43.2M | 0 | ||
| 2024 Q3 | 16 | $55.7M | 0 | ||
| 2024 Q2 | 11 | $40.9M | 0 | ||
| 2024 Q1 | 16 | $56.1M | 0 | ||
| 2023 Q4 | 15 | $43.6M | 0 | ||
| 2023 Q3 | 10 | $30.5M | 0 | ||
| 2023 Q2 | 13 | $48.9M | 0 | ||
| 2023 Q1 | 11 | $48.1M | 0 | ||
| 2022 Q4 | 17 | $53.7M | 0 | ||
| 2022 Q3 | 12 | $49.5M | 0 | ||
| 2022 Q2 | 11 | $51.2M | 0 | ||
| 2022 Q1 | 7 | $53.7M | 0 | ||
| 2021 Q4 | 10 | $62.5M | 0 | ||
| 2021 Q3 | 17 | $88.4M | 0 | ||
| 2021 Q2 | 16 | $75.2M | 93 | ||
| 2021 Q1 | 11 | $65.6M | 43 | ||
| 2020 Q4 | 10 | $65.0M | 53 | ||
| 2020 Q3 | 8 | $74.5M | 69 | ||
| 2020 Q2 | 10 | $91.0M | 54 | ||
| 2020 Q1 | 13 | $93.1M | 98 | ||
| 2019 Q4 | 19 | $178.0M | 39 | ||
| 2019 Q3 | 21 | $129.6M | 39 | ||
| 2019 Q2 | 25 | $129.8M | 64 | ||
| 2019 Q1 | 30 | $106.0M | 89 | ||
| 2018 Q4 | 21 | $75.3M | 53 | ||
| 2018 Q3 | 19 | $87.7M | 39 | ||
| 2018 Q2 | 23 | $77.0M | 54 | ||
| 2018 Q1 | 16 | $68.6M | 83 | ||
| 2017 Q4 | 20 | $120.2M | 60 | ||
| 2017 Q3 | 23 | $117.1M | 55 | ||
| 2017 Q2 | 15 | $88.1M | 76 | ||
| 2017 Q1 | 20 | $93.0M | 44 | ||
| 2016 Q4 | 16 | $75.2M | 47 | ||
| 2016 Q3 | 15 | $86.5M | 33 | ||
| 2016 Q2 | 18 | $102.2M | 73 | ||
| 2016 Q1 | 17 | $119.3M | 54 | ||
| 2015 Q4 | 18 | $117.0M | 29 | ||
| 2015 Q3 | 19 | $93.6M | 47 | ||
| 2015 Q2 | 23 | $115.6M | 54 | ||
| 2015 Q1 | 16 | $114.5M | 91 | ||
| 2014 Q4 | 19 | $157.8M | 39 | ||
| 2014 Q3 | 17 | $134.7M | 36 | ||
| 2014 Q2 | 20 | $125.3M | 70 | ||
| 2014 Q1 | 16 | $100.3M | 63 | ||
| 2013 Q4 | 20 | $148.8M | 0 |
Holding changes this quarter
Paragon Associates & Paragon Associates Ii Joint Venture's most significant position changes for 2026-03-31: New buy: Coeur Mining Inc (CDE); New buy: Ss Spdr S&p 500 ETF Trust-us (SPY); Sold out: Invesco Qqq Trust Series 1 (QQQ); New buy: Western Midstream Partners L (WES); New buy: Profound Medical CORP (PROF).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | STKL | Sunopta Inc | +0.8% | +0.52% | Add |
| 2 | IAUX | I-80 Gold CORP | +0.6% | +66.67% | Add |
| 3 | EPSN | Epsilon Energy LTD | -0.8% | — | Unchanged |
| 4 | IRIX | Iridex CORP | -1% | — | Unchanged |
| 5 | NPKI | Npk International Inc | -2.5% | -6.25% | Trim |
| 6 | CDNA | Caredx Inc | -2.8% | +33.33% | Add |
| 7 | NVGS | Navigator Holdings Ltd. | -2.9% | — | Unchanged |
| 8 | DMAC | Diamedica Therapeutics Inc | -6.3% | — | Unchanged |
| 9 | AEM | Agnico Eagle Mines LTD | -10.6% | -49.90% | Trim |
| 10 | CDE | Coeur Mining Inc | — | NEW | New buy |
| 11 | SPY | Ss Spdr S&p 500 ETF Trust-us | — | NEW | New buy |
| 12 | QQQ | Invesco Qqq Trust Series 1 | — | EXIT | Sold out |
| 13 | WES | Western Midstream Partners L | — | NEW | New buy |
| 14 | PROF | Profound Medical CORP | — | NEW | New buy |
| 15 | NEXM | Nexmetals Mining CORP | — | NEW | New buy |
| 16 | BELFB | Bel Fuse Inc-cl B | — | EXIT | Sold out |
| 17 | QTRX | Quanterix CORP | — | EXIT | Sold out |
Filing History
FAQ
What is Paragon Associates & Paragon Associates Ii Joint Venture and what type of investor is it?
Paragon Associates & Paragon Associates Ii Joint Venture 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 (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $73.6M, spread across 14 disclosed positions.
What are Paragon Associates & Paragon Associates Ii Joint Venture's largest equity positions?
Based on the latest 13F filing, Paragon Associates & Paragon Associates Ii Joint Venture's top holdings by market value are:
1. Coeur Mining Inc (CDE) — $12.2M (16.6%)
2. Ss Spdr S&p 500 ETF Trust-us (SPY) — $9.8M (13.3%)
3. Caredx Inc (CDNA) — $8.7M (11.8%)
4. Diamedica Therapeutics Inc (DMAC) — $5.9M (8.1%)
5. Navigator Holdings Ltd. (NVGS) — $5.8M (7.9%)
What changes did Paragon Associates & Paragon Associates Ii Joint Venture make in its most recent portfolio filing?
In the latest reported quarter, Paragon Associates & Paragon Associates Ii Joint Venture made 13 notable position adjustments: 5 new positions were initiated, 3 existing holdings were added to, 2 positions were partially reduced, and 3 were completely exited. The largest of these moves: New buy: Coeur Mining Inc (CDE); New buy: Ss Spdr S&p 500 ETF Trust-us (SPY); Sold out: Invesco Qqq Trust Series 1 (QQQ); New buy: Western Midstream Partners L (WES); New buy: Profound Medical CORP (PROF)
What sectors does Paragon Associates & Paragon Associates Ii Joint Venture focus on?
Paragon Associates & Paragon Associates Ii Joint Venture is concentrated in the following sectors based on its current disclosed equity portfolio:
• Materials: 80.8%
• Energy: 19.3%
* 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.
Investment Profile
Paragon Associates & Paragon Associates Ii Joint Venture returned an annualized 35.2% over the trailing 36 months — outperforming the S&P 500 by 21.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.52 (less volatile than the market) and a 53% quarterly batting average against the index.
Its portfolio is moderately concentrated and fast-trading, with 80.8% of the portfolio concentrated in Materials.
Its concentration score has fallen from 73 to 39 over the past 4 quarters — a shift toward broader diversification.
It has added to its CDNA position over the past two quarters (+$2.5M, now $8.7M), while trimming AEM over the same stretch (-$8.4M, still holding $5.1M).
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