CIK: 0001998389
Total reported value
$224.7M
Reporting period: 2026-03-31 · Number of holdings: 52
Ballast Asset Management, LP disclosed 52 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $224.7M and a quarterly turnover rate of 21.1%.
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Ballast Asset Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.022 — mathematically equivalent to about 46 equally-sized positions, close to its 52 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 0.36), 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 41% 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.
Add KOS
+11.4% $4.0M
Trim BELFB
-43.5% -$2.4M
Trim CLMB
+315.3% -$1.6M
Trim TPB
+2.5% -$1.3M
Trim COLL
+2.5% -$1.4M
Trim CVCO
+2.6% -$1.1M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NRP | Natural Resource Partners LP | Stock-Other | 4.09% | +0.53% | +5.07% | |
| 2 | ECVT | Ecovyst INC | Stock-Other | 3.17% | +0.68% | +2.55% | |
| 3 | AZZ | Azz INC | Stock-Industrials | 3.12% | +0.35% | +2.49% | |
| 4 | RGLD | Royal Gold INC | Stock-Materials | 2.98% | +0.28% | +2.53% | |
| 5 | SEI | Solaris Energy Infrastructur | Stock-Energy | 2.91% | +0.46% | +2.52% | |
| 6 | CLMB | Climb Global Solutions INC | Stock-Other | 2.82% | -0.91% | +315.30% | |
| 7 | CVCO | Cavco Industries INC | Stock-Consumer Disc | 2.61% | -0.69% | +2.58% | |
| 8 | MBIN | Merchants Bancorp/in | Stock-Other | 2.61% | +0.47% | +2.47% | |
| 9 | TPB | Turning Point Brands INC | Stock-Other | 2.58% | -0.76% | +2.52% | |
| 10 | CBNK | Capital Bancorp Inc/md | Stock-Other | 2.51% | +0.05% | +2.69% | |
| 11 | KOS | Kosmos Energy LTD | Stock-Other | 2.51% | +1.73% | +11.39% | |
| 12 | AGM | Federal Agric Mtg Corp-cl C | Stock-Other | 2.48% | -0.42% | +7.48% | |
| 13 | PATK | Patrick Industries INC | Stock-Consumer Disc | 2.46% | -0.03% | +2.50% | |
| 14 | LSTR | Landstar System INC | Stock-Industrials | 2.44% | +0.17% | +2.47% | |
| 15 | GEO | Geo Group Inc/the | Stock-Other | 2.40% | +0.44% | +24.39% | |
| 16 | CNR | Core Natural Resources INC | Stock-Energy | 2.37% | +0.29% | +2.46% | |
| 17 | BCO | Brink's Co/the | Stock-Industrials | 2.36% | -0.37% | +3.52% | |
| 18 | TEX | Terex CORP | Stock-Industrials | 2.24% | +0.15% | +2.52% | |
| 19 | EPSN | Epsilon Energy LTD | Stock-Other | 2.23% | +0.49% | +2.52% | |
| 20 | GPGI | Gpgi INC | Stock-Other | 2.21% | -0.37% | +2.55% | |
| 21 | BELFB | Bel Fuse Inc-cl B | Stock-Other | 2.09% | -1.28% | -43.52% | |
| 22 | MTUS | Metallus INC | Stock-Other | 2.08% | -0.18% | +2.53% | |
| 23 | KN | Knowles CORP | Stock-Other | 1.95% | +0.26% | +2.18% | |
| 24 | CRTO | Criteo Sa-spon Adr | Stock-Other | 1.86% | +0.09% | +28.55% | |
| 25 | EXP | Eagle Materials INC | Stock-Materials | 1.85% | -0.25% | +2.35% | |
| 26 | MLI | Mueller Industries INC | Stock-Industrials | 1.84% | +0.26% | +27.83% | |
| 27 | CCSI | Consensus Cloud Solution | Stock-Other | 1.75% | +0.55% | +42.74% | |
| 28 | MTG | Mgic Investment CORP | Stock-Financials | 1.75% | -0.26% | +2.50% | |
| 29 | EPR | Epr Properties | Stock-Real Estate | 1.68% | -0.06% | +2.46% | |
| 30 | ATNI | Atn International INC | Stock-Other | 1.67% | +0.35% | +12.41% | |
| 31 | COLL | Collegium Pharmaceutical INC | Stock-Other | 1.67% | -0.75% | +2.52% | |
| 32 | HLMN | Hillman Solutions CORP | Stock-Other | 1.65% | — | +6.24% | |
| 33 | ✓ | Ferroglobe PLC | Stock-Other | 1.60% | -0.26% | +2.47% | |
| 34 | IRMD | Iradimed CORP | Stock-Other | 1.59% | — | +2.40% | |
| 35 | BLCO | Bausch + Lomb CORP | Stock-Other | 1.55% | -0.18% | +2.44% | |
| 36 | OZK | Bank Ozk | Stock-Financials | 1.48% | +0.03% | +8.56% | |
| 37 | BRKR | Bruker CORP | Stock-Healthcare | 1.46% | -0.03% | +35.00% | |
| 38 | G | Genpact Limited | Stock-Tech | 1.38% | -0.29% | +9.82% | |
| 39 | RCMT | Rcm Technologies INC | Stock-Other | 1.37% | +0.07% | +19.18% | |
| 40 | CBT | Cabot CORP | Stock-Materials | 1.37% | +0.48% | +43.30% | |
| 41 | IPGP | Ipg Photonics CORP | Stock-Tech | 1.33% | +0.19% | -22.76% | |
| 42 | DCI | Donaldson Co INC | Stock-Industrials | 1.33% | — | +2.53% | |
| 43 | PHIN | Phinia INC | Stock-Consumer Disc | 1.28% | +0.06% | +2.49% | |
| 44 | IMKTA | Ingles Markets Inc-class A | Stock-Other | 1.28% | +0.27% | +2.49% | |
| 45 | ASIX | Advansix INC | Stock-Other | 1.27% | +0.40% | +9.73% | |
| 46 | GBTG | Global Business Travel Group | Stock-Other | 1.24% | -0.53% | +2.42% | |
| 47 | QDEL | Quidelortho CORP | Stock-Other | 1.07% | -0.26% | +47.77% | |
| 48 | CASS | Cass Information Systems INC | Stock-Other | 1.00% | +0.02% | +2.52% | |
| 49 | EXTR | Extreme Networks INC | Stock-Other | 0.94% | -0.13% | +2.46% | |
| 50 | SPSC | Sps Commerce INC | Stock-Tech | 0.93% | +0.93% | NEW |
Performance for Q3 2026
+7.6%
Performance Last 4 Quarters
+30.5%
Based on 75% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 52 | $224.7M | 21 | |
| 2025-12-31 | 52 | $211.7M | 16 | |
| 2025-09-30 | 54 | $219.1M | 47 | |
| 2025-06-30 | 54 | $192.4M | 0 | |
| 2025-03-31 | 54 | $189.7M | 0 | |
| 2024-12-31 | 53 | $201.7M | 0 | |
| 2024-09-30 | 49 | $195.6M | 0 | |
| 2024-06-30 | 51 | $184.3M | 0 | |
| 2024-03-31 | 51 | $184.6M | 0 | |
| 2023-12-31 | 48 | $157.3M | 0 | |
| 2023-09-30 | 52 | $107.9M | 0 |
Ballast Asset Management, LP's most significant position changes for 2026-03-31: Sold out: Resolute Holdings Manag (RHLD); New buy: Sps Commerce INC (SPSC); Add: Kosmos Energy LTD (KOS) — shares +11.39%; Trim: Bel Fuse Inc-cl B (BELFB) — shares -43.52%; Add: Climb Global Solutions INC (CLMB) — shares +315.30%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | KOS | Kosmos Energy LTD | +1.7% | +11.39% | Add |
| 2 | ECVT | Ecovyst INC | +0.7% | +2.55% | Add |
| 3 | CCSI | Consensus Cloud Solution | +0.6% | +42.74% | Add |
| 4 | NRP | Natural Resource Partners LP | +0.5% | +5.07% | Add |
| 5 | EPSN | Epsilon Energy LTD | +0.5% | +2.52% | Add |
| 6 | CBT | Cabot CORP | +0.5% | +43.30% | Add |
| 7 | MBIN | Merchants Bancorp/in | +0.5% | +2.47% | Add |
| 8 | SEI | Solaris Energy Infrastructur | +0.5% | +2.52% | Add |
| 9 | GEO | Geo Group Inc/the | +0.4% | +24.39% | Add |
| 10 | ASIX | Advansix INC | +0.4% | +9.73% | Add |
| 11 | AZZ | Azz INC | +0.4% | +2.49% | Add |
| 12 | ATNI | Atn International INC | +0.4% | +12.41% | Add |
| 13 | CNR | Core Natural Resources INC | +0.3% | +2.46% | Add |
| 14 | RGLD | Royal Gold INC | +0.3% | +2.53% | Add |
| 15 | IMKTA | Ingles Markets Inc-class A | +0.3% | +2.49% | Add |
| 16 | KN | Knowles CORP | +0.3% | +2.18% | Add |
| 17 | MLI | Mueller Industries INC | +0.3% | +27.83% | Add |
| 18 | IPGP | Ipg Photonics CORP | +0.2% | -22.76% | Trim |
| 19 | LSTR | Landstar System INC | +0.2% | +2.47% | Add |
| 20 | TEX | Terex CORP | +0.2% | +2.52% | Add |
| 21 | AMR | Alpha Metallurgical Resource | +0.1% | +22.09% | Add |
| 22 | CRTO | Criteo Sa-spon Adr | +0.1% | +28.55% | Add |
| 23 | RCMT | Rcm Technologies INC | +0.1% | +19.18% | Add |
| 24 | PHIN | Phinia INC | +0.1% | +2.49% | Add |
| 25 | CBNK | Capital Bancorp Inc/md | +0.1% | +2.69% | Add |
| 26 | OZK | Bank Ozk | 0% | +8.56% | Add |
| 27 | CASS | Cass Information Systems INC | 0% | +2.52% | Add |
| 28 | PATK | Patrick Industries INC | 0% | +2.50% | Add |
| 29 | BRKR | Bruker CORP | 0% | +35.00% | Add |
| 30 | EPR | Epr Properties | -0.1% | +2.46% | Add |
| 31 | EXTR | Extreme Networks INC | -0.1% | +2.46% | Add |
| 32 | BLCO | Bausch + Lomb CORP | -0.2% | +2.44% | Add |
| 33 | MTUS | Metallus INC | -0.2% | +2.53% | Add |
| 34 | EXP | Eagle Materials INC | -0.3% | +2.35% | Add |
| 35 | QDEL | Quidelortho CORP | -0.3% | +47.77% | Add |
| 36 | ✓ | Ferroglobe PLC | -0.3% | +2.47% | Add |
| 37 | MTG | Mgic Investment CORP | -0.3% | +2.50% | Add |
| 38 | G | Genpact Limited | -0.3% | +9.82% | Add |
| 39 | TRIP | Tripadvisor INC | -0.4% | +2.47% | Add |
| 40 | GPGI | Gpgi INC | -0.4% | +2.55% | Add |
| 41 | BCO | Brink's Co/the | -0.4% | +3.52% | Add |
| 42 | AGM | Federal Agric Mtg Corp-cl C | -0.4% | +7.48% | Add |
| 43 | GBTG | Global Business Travel Group | -0.5% | +2.42% | Add |
| 44 | CVCO | Cavco Industries INC | -0.7% | +2.58% | Add |
| 45 | COLL | Collegium Pharmaceutical INC | -0.8% | +2.52% | Add |
| 46 | TPB | Turning Point Brands INC | -0.8% | +2.52% | Add |
| 47 | CLMB | Climb Global Solutions INC | -0.9% | +315.30% | Add |
| 48 | BELFB | Bel Fuse Inc-cl B | -1.3% | -43.52% | Trim |
| 49 | RHLD | Resolute Holdings Manag | — | EXIT | Sold out |
| 50 | SPSC | Sps Commerce INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-07 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-09 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-04 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-12 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
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