DENALI ADVISORS LLC's Q2 2022 13F: 60 new positions, 66 exits
Form 13F-HR for the quarter ended Jun 30, 2022 · filed Jul 18, 2022 · 352 reported positions · accession 0001142941-22-000006 · Amended
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | Sanmina Corporation (SANM) | 1.7% | 0.4% | −1.4 pts | −91,633 sh | −82% |
| Exited | AXOS Financial Inc (AX) | 1.4% | — | −1.4 pts | −80,900 sh | −100% |
| Reduced | BancFirst Corp OK (BANF) | 1.2% | 0.1% | −1.1 pts | −34,000 sh | −93% |
| Exited | Boise Cascade LLC (BCC) | 1.4% | — | −1.4 pts | −51,200 sh | −100% |
| New | MDC Holdings Inc (MDC) | — | 1.2% | +1.2 pts | +84,927 sh | new |
| Reduced | Provident Financial Services (PFS) | 1.5% | 0.5% | −1.0 pts | −116K sh | −70% |
| New | UFP Industries (UFPI) | — | 1.1% | +1.1 pts | +35,400 sh | new |
| New | Green Brick Partners Inc (GRBK) | — | 0.9% | +0.9 pts | +110K sh | new |
| Exited | American National Insur. (ANAT) | 0.9% | — | −0.9 pts | −12,005 sh | −100% |
| Increased | NBT Bancorp Inc. (NBTB) | 0.4% | 1.2% | +0.8 pts | +45,300 sh | +156% |
| Exited | Independent Bank Grp (IBTX) | 0.7% | — | −0.7 pts | −27,000 sh | −100% |
| Reduced | Orion Engineered Carbons (OEC) | 0.7% | 0.0% | −0.7 pts | −109K sh | −98% |
| Increased | Marcus & Millichap, Inc. (MMI) | 0.9% | 1.4% | +0.5 pts | +42,700 sh | +101% |
| Exited | Trinet Group Inc (TNET) | 0.7% | — | −0.7 pts | −18,028 sh | −100% |
| Increased | G-III Apparel Group (GIII) | 0.1% | 0.7% | +0.6 pts | +74,900 sh | +848% |
| Increased | Bluelinx Holdings (BXC) | 0.8% | 1.5% | +0.7 pts | +22,107 sh | +74% |
| Increased | Ryerson Holding Corporation (RYZ) | 0.3% | 0.9% | +0.5 pts | +66,600 sh | +259% |
| Increased | Acushnet Holdings Corp. (GOLF) | 1.1% | 1.8% | +0.8 pts | +32,500 sh | +47% |
| Exited | Ironwood Pharmaceuticals (IRWD) | 0.6% | — | −0.6 pts | −114K sh | −100% |
| Exited | Encore Wire Corporation (WIRE) | 0.5% | — | −0.5 pts | −12,406 sh | −100% |
| Reduced | Piedmont Office Realty Trust, (PDM) | 1.4% | 0.7% | −0.7 pts | −89,954 sh | −42% |
| Increased | AMC Networks Inc. cl A (AMCX) | 0.5% | 1.0% | +0.4 pts | +40,369 sh | +116% |
| Reduced | Gray Television Inc (GTN) | 1.6% | 0.9% | −0.7 pts | −63,500 sh | −34% |
| Increased | Earthstone Energy (ESTE) | 0.2% | 0.8% | +0.5 pts | +77,138 sh | +156% |
| New | TTEC Holdings Inc. (TTEC) | — | 0.5% | +0.5 pts | +15,400 sh | new |
| Exited | Consol Energy Inc (CEIX) | 0.4% | — | −0.4 pts | −28,217 sh | −100% |
| Increased | World Fuel Services Corp (WKC) | 1.2% | 1.4% | +0.2 pts | +45,622 sh | +40% |
| Increased | Dorian LPG Ltd. (LPG) | 0.8% | 1.3% | +0.5 pts | +59,600 sh | +42% |
| Exited | Apollo Commercial Real Estate (ARI) | 0.4% | — | −0.4 pts | −71,700 sh | −100% |
| Increased | Amkor Technology Inc (AMKR) | 0.0% | 0.4% | +0.4 pts | +51,857 sh | +37852% |
| Exited | Zumiez Inc. (ZUMZ) | 0.4% | — | −0.4 pts | −25,400 sh | −100% |
| Reduced | Mueller Industries, Inc. (MLI) | 1.7% | 1.5% | −0.2 pts | −16,074 sh | −20% |
| Increased | Atlantic Union Bacncshares (AUB) | 0.5% | 0.9% | +0.4 pts | +25,100 sh | +72% |
| Increased | Graftech International Ltd (EAF) | 1.4% | 1.5% | +0.1 pts | +115K sh | +31% |
| Exited | Marten Transport, Ltd. (MRTN) | 0.3% | — | −0.3 pts | −48,800 sh | −100% |
| Increased | Park National Corp OH (PRK) | 0.1% | 0.5% | +0.3 pts | +6,300 sh | +252% |
| Reduced | Ingles Markets cl A (IMKTA) | 1.9% | 1.8% | −0.1 pts | −8,300 sh | −15% |
| Reduced | Triton International Ltd (TRTN) | 0.3% | 0.0% | −0.3 pts | −12,800 sh | −100% |
| Increased | National HealthCare Corp (NHC) | 0.3% | 0.6% | +0.3 pts | +9,900 sh | +104% |
| Increased | First Financial Bancorp OH (FFBC) | 1.4% | 1.6% | +0.2 pts | +35,325 sh | +23% |
| Increased | Innoviva, Inc. (INVA) | 1.7% | 1.8% | +0.1 pts | +45,300 sh | +20% |
| Increased | Select Medical Holdings Corp (SEM) | 1.4% | 1.8% | +0.4 pts | +28,200 sh | +19% |
| Exited | Primoris Services Corp. (PRIM) | 0.3% | — | −0.3 pts | −30,600 sh | −100% |
| Exited | Southern Company (SO) | 0.3% | — | −0.3 pts | −9,900 sh | −100% |
| Reduced | Employers Holdings, Inc. (EIG) | 1.7% | 1.6% | 0.0 pts | −15,100 sh | −14% |
| New | National Energy Services Reunited (NESR) | — | 0.3% | +0.3 pts | +92,400 sh | new |
| Increased | Worthington Industries (WOR) | 1.5% | 1.7% | +0.2 pts | +14,048 sh | +19% |
| Increased | 1st Source Corporation (SRCE) | 0.1% | 0.4% | +0.3 pts | +13,337 sh | +226% |
| Increased | United States Cellular Corp (AD) | 1.4% | 1.8% | +0.4 pts | +19,338 sh | +16% |
| Increased | PennyMac Financial Service Inc (PFSI) | 1.1% | 1.3% | +0.2 pts | +12,800 sh | +24% |
The 50 largest of 313 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
* Prior share counts adjusted or corrected for a stock split — changes are measured from the adjusted count:
- A-Mark Precious Metals (GOLD): 2,800 shares as filed last quarter, 5,600 after adjustment → 1,000 now (prior share count adjusted for a stock split)
Top 10 positions — 18.1% of the equity book
Changes in the top 10 this quarter: GOLF entered · SEM entered · AD entered · KRO entered · IBOC entered · CMRE left · KW left · SANM left · MLI left · EIG left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Stonex Group (SNEX) | 1.7% | 2.0% | |
| 2 | Greif Inc cl A (GEF) | 1.9% | 1.8% | |
| 3 | Acushnet Holdings Corp. (GOLF) | 1.1% | 1.8% | Entered the top 10 |
| 4 | Select Medical Holdings Corp (SEM) | 1.4% | 1.8% | Entered the top 10 |
| 5 | United States Cellular Corp (AD) | 1.4% | 1.8% | Entered the top 10 |
| 6 | Ingles Markets cl A (IMKTA) | 1.9% | 1.8% | |
| 7 | Innoviva, Inc. (INVA) | 1.7% | 1.8% | |
| 8 | Kronos Worldwide Inc. (KRO) | 1.5% | 1.8% | Entered the top 10 |
| 9 | Graham Holdings Company (GHC) | 1.7% | 1.8% | |
| 10 | International Bancshares (IBOC) | 1.6% | 1.8% | Entered the top 10 |
| — | Costamare Inc (CMRE) | 1.9% | 1.6% | Left the top 10 |
| — | Kennedy-Wilson Holdings (KW) | 1.8% | 1.6% | Left the top 10 |
| — | Sanmina Corporation (SANM) | 1.7% | 0.4% | Left the top 10 |
| — | Mueller Industries, Inc. (MLI) | 1.7% | 1.5% | Left the top 10 |
| — | Employers Holdings, Inc. (EIG) | 1.7% | 1.6% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).