DENALI ADVISORS LLC
Q1 2026 Form 13-F
SAN DIEGO, CALIFORNIA
CIK 0001142941
· CRD 110242
· SEC-registered investment adviser
$899.7M Reported Value Total
DENALI ADVISORS, LLC reports 291 total accounts under management (AUM). There are 290 discretionary accounts valued at $1,382,301,074, and 1 non-discretionary accounts valued at $5,564,016.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Private funds (Form ADV)
2 funds
· $200.2M gross asset value
Other: $164.9M · Hedge Fund: $35.4M
Source: Form ADV filed 2026-03-27
Reported value
$899.7M
Quarter over quarter
-0.2%
Holdings
307
Top-10 concentration
21.6%
Filing Structure
Key People
Form ADV owners & control persons
Melvin Duane Lindsey
TRUSTEE
Robert Guenther Snigaroff
MEMBER, MANAGER, CHIEF INVESTMENT OFFICER
Michael Robert Munson
MEMBER
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
13F Metrics
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Q1 2026 13F record
Q1 2026 13F filing summary
| Period of report | March 31, 2026 |
|---|---|
| Filed | May 08, 2026 |
| Form | 13F-HR |
| Reported value | $899.7M |
| Positions | 307 |
| Change in reported value | -0.2% |
| New positions | 31 |
| Exited positions | 45 |
| Position turnover | 21.6% |
| Top-10 concentration | 21.6% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 10, 2026
|
318 | $993.0M |
|
Q1 2026 13F
Filed May 8, 2026
|
307 | $899.7M |
|
Q4 2025 13F
Filed Feb 3, 2026
|
321 | $901.0M |
|
Q3 2025 13F
Filed Nov 7, 2025
|
297 | $885.1M |
|
Q2 2025 13F
Filed Jul 30, 2025
|
288 | $960.1M |
|
Q1 2025 13F
Filed May 5, 2025
|
274 | $878.6M |
|
Q4 2024 13F
Filed Feb 4, 2025
|
271 | $954.0M |
|
Q3 2024 13F
Filed Nov 13, 2024
|
271 | $930.7M |
|
Q2 2024 13F
Filed Aug 9, 2024
|
175 | $365.4M |
|
Q1 2024 13F
Filed Apr 19, 2024
|
450 | $339.6M |
|
Q4 2023 13F
Filed Jan 19, 2024
|
451 | $327.3M |
|
Q3 2023 13F
Filed Oct 19, 2023
|
468 | $284.8M |
|
Q2 2023 13F
Filed Jul 18, 2023
|
469 | $284.8M |
|
Q1 2023 13F
Filed Apr 21, 2023
|
436 | $240.3M |
|
Q4 2022 13F
Filed Feb 9, 2023
|
415 | $238.5M |
|
Q3 2022 13F
Filed Oct 25, 2022
|
337 | $211.5M |
|
Q2 2022 13F
Filed Jul 18, 2022
|
352 | $229.4M |
|
Q1 2022 13F
Filed Apr 19, 2022
|
358 | $258.9M |
|
Q4 2021 13F
Filed Jan 21, 2022
|
367 | $267.1M |
|
Q3 2021 13F
Filed Oct 12, 2021
|
265 | $239.1M |
33 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q1 2026
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | NVDA NVIDIA CORPORATION | $38.1M | 4.24% |
| 2 | AAPL APPLE INC | $30.1M | 3.34% |
| 3 | GOOG ALPHABET INC | $26.5M | 2.94% |
| 4 | MSFT MICROSOFT CORP | $25.8M | 2.87% |
| 5 | AMZN AMAZON COM INC | $17.0M | 1.89% |
| 6 | META META PLATFORMS INC | $13.6M | 1.51% |
| 7 | AVGO BROADCOM INC | $12.7M | 1.41% |
| 8 | WMT WALMART INC | $10.3M | 1.15% |
| 9 | T AT&T INC | $10.3M | 1.14% |
| 10 | NFLX NETFLIX INC. | $9.9M | 1.1% |
| 11 | IMKTA INGLES MKTS INC | $8.7M | 0.97% |
| 12 | COST COSTCO WHOLESALE CORPORATION | $8.6M | 0.95% |
| 13 | LLY ELI LILLY & CO | $8.5M | 0.95% |
| 14 | MBIN MERCHANTS BANCORP IND | $8.4M | 0.93% |
| 15 | NOG NORTHERN OIL & GAS INC | $8.3M | 0.93% |
| 16 | CAH CARDINAL HEALTH INC | $8.3M | 0.92% |
| 17 | SRCE 1ST SOURCE CORP | $8.3M | 0.92% |
| 18 | TSLA TESLA INC | $8.2M | 0.91% |
| 19 | NTB BANK OF N T BUTTERFIELD & SO | $8.1M | 0.9% |
| 20 | CBT CABOT CORP | $8.1M | 0.89% |
Values as reported on the Q1 2026 Form 13F. Every position is in the holdings table below.