DENALI ADVISORS LLC's Q2 2025 13F: 40 new positions, 26 exits
Form 13F-HR for the quarter ended Jun 30, 2025 · filed Jul 30, 2025 · 288 reported positions · accession 0001398344-25-014162
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | STONEX GROUP INC (SNEX) | 0.7% | — | −0.7 pts | −84,535 sh | −100% |
| Increased | ROBINHOOD MKTS INC (HOOD) | 0.2% | 1.0% | +0.8 pts | +62,371 sh | +153% |
| Increased | VICTORY CAP HLDGS INC (VCTR) | 0.1% | 0.7% | +0.6 pts | +87,570 sh | +495% |
| Exited | GENWORTH FINL INC (GNW) | 0.5% | — | −0.5 pts | −680K sh | −100% |
| Increased | F&G ANNUITIES & LIFE INC (FG) | 0.1% | 0.6% | +0.5 pts | +161K sh | +1248% |
| Reduced | EXXON MOBIL CORP (XOM) | 0.8% | 0.1% | −0.6 pts | −45,648 sh | −81% |
| Increased | WESTAMERICA BANCORPORATION (WABC) | 0.1% | 0.5% | +0.4 pts | +89,444 sh | +505% |
| Reduced | GOLDEN OCEAN GROUP LTD (GOGL) | 0.5% | 0.0% | −0.5 pts | −549K sh | −92% |
| Exited | FLEX LNG LTD (FLNG) | 0.4% | — | −0.4 pts | −155K sh | −100% |
| Increased | PALANTIR TECHNOLOGIES INC (PLTR) | 0.4% | 0.9% | +0.6 pts | +26,696 sh | +70% |
| Exited | CONOCOPHILLIPS (COP) | 0.4% | — | −0.4 pts | −31,140 sh | −100% |
| Reduced | WORTHINGTON ENTERPRISES INC (WOR) | 0.7% | 0.4% | −0.2 pts | −52,020 sh | −45% |
| Increased | GREEN BRICK PARTNERS INC (GRBK) | 0.4% | 0.7% | +0.3 pts | +51,158 sh | +86% |
| New | CAL MAINE FOODS INC (CALM) | — | 0.3% | +0.3 pts | +32,154 sh | new |
| Exited | PREFERRED BK LOS ANGELES CA (PFBC) | 0.3% | — | −0.3 pts | −34,113 sh | −100% |
| Reduced | TRIP COM GROUP LTD (TCOM) | 0.4% | 0.1% | −0.4 pts | −49,025 sh | −82% |
| Reduced | PERDOCEO ED CORP (PRDO) | 0.5% | 0.4% | −0.2 pts | −79,036 sh | −42% |
| Reduced | SONIC AUTOMOTIVE INC (SAH) | 0.6% | 0.5% | −0.1 pts | −32,218 sh | −36% |
| Exited | QCR HOLDINGS INC (QCRH) | 0.3% | — | −0.3 pts | −32,971 sh | −100% |
| Exited | BLUELINX HLDGS INC (BXC) | 0.3% | — | −0.3 pts | −31,223 sh | −100% |
| Exited | ETHAN ALLEN INTERIORS INC (ETD) | 0.3% | — | −0.3 pts | −83,040 sh | −100% |
| Reduced | EVERCORE INC (EVR) | 0.2% | 0.0% | −0.2 pts | −8,967 sh | −87% |
| Increased | MURPHY OIL CORP (MUR) | 0.0% | 0.3% | +0.2 pts | +106K sh | +1178% |
| Increased | NVIDIA CORPORATION (NVDA) | 3.5% | 5.0% | +1.4 pts | +14,619 sh | +5% |
| Increased | SM ENERGY CO (SM) | 0.6% | 0.7% | +0.1 pts | +89,558 sh | +52% |
| Exited | FIRST BUSEY CORP (BUSE) | 0.2% | — | −0.2 pts | −89,750 sh | −100% |
| Increased | PATRIA INVESTMENTS LIMITED (PAX) | 0.1% | 0.3% | +0.2 pts | +145K sh | +160% |
| Exited | OFG BANCORP (OFG) | 0.2% | — | −0.2 pts | −42,220 sh | −100% |
| Reduced | ALPHABET INC (GOOG) | 2.1% | 2.0% | −0.1 pts | −10,397 sh | −9% |
| New | S & T BANCORP INC (STBA) | — | 0.2% | +0.2 pts | +48,723 sh | new |
| Increased | WASTE MGMT INC DEL (WM) | 0.6% | 0.8% | +0.1 pts | +7,577 sh | +31% |
| New | GRAHAM HLDGS CO (GHC) | — | 0.2% | +0.2 pts | +1,803 sh | new |
| Reduced | MOVADO GROUP INC (MOV) | 0.3% | 0.1% | −0.2 pts | −109K sh | −60% |
| New | VIRTUS INVT PARTNERS INC (VRTS) | — | 0.2% | +0.2 pts | +9,004 sh | new |
| Increased | TEEKAY TANKERS LTD (TNK) | 0.4% | 0.5% | +0.2 pts | +38,849 sh | +46% |
| Increased | SEA LTD (SE) | 0.1% | 0.2% | +0.2 pts | +9,922 sh | +257% |
| Increased | COSTAMARE INC (CMRE) | 0.6% | 0.7% | +0.1 pts | +168K sh | +30% |
| Increased | BYLINE BANCORP INC (BY) | 0.1% | 0.2% | +0.1 pts | +54,467 sh | +156% |
| New | TRINITY CAP INC (TRIN) | — | 0.2% | +0.2 pts | +103K sh | new |
| Reduced | AMAZON COM INC (AMZN) | 2.9% | 2.9% | 0.0 pts | −6,505 sh | −5% |
| Increased | DOLE PLC (DOLE) | 0.1% | 0.2% | +0.1 pts | +101K sh | +168% |
| Reduced | PALO ALTO NETWORKS INC (PANW) | 0.6% | 0.6% | −0.1 pts | −6,379 sh | −20% |
| Increased | NORTHERN OIL & GAS INC (NOG) | 0.6% | 0.6% | 0.0 pts | +40,221 sh | +25% |
| Reduced | NATIONAL BEVERAGE CORP (FIZZ) | 0.8% | 0.6% | −0.1 pts | −23,350 sh | −14% |
| Increased | MERCHANTS BANCORP IND (MBIN) | 0.7% | 0.7% | 0.0 pts | +30,356 sh | +18% |
| Reduced | STEEL DYNAMICS INC (STLD) | 0.2% | 0.0% | −0.1 pts | −7,508 sh | −70% |
| Exited | ANDERSONS INC (ANDE) | 0.1% | — | −0.1 pts | −19,600 sh | −100% |
| Increased | DREAM FINDERS HOMES INC (DFH) | 0.7% | 0.8% | +0.1 pts | +36,314 sh | +13% |
| Reduced | ENACT HLDGS INC (ACT) | 0.8% | 0.7% | −0.1 pts | −24,309 sh | −12% |
| Increased | PC CONNECTION INC (CNXN) | 0.4% | 0.5% | +0.1 pts | +13,608 sh | +26% |
The 50 largest of 305 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
Top 10 positions — 26.6% of the equity book
Changes in the top 10 this quarter: AVGO entered · LLY left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | NVIDIA CORPORATION (NVDA) | 3.5% | 5.0% | |
| 2 | MICROSOFT CORP (MSFT) | 4.1% | 4.9% | |
| 3 | APPLE INC (AAPL) | 4.0% | 3.4% | |
| 4 | AMAZON COM INC (AMZN) | 2.9% | 2.9% | |
| 5 | META PLATFORMS INC (META) | 2.2% | 2.5% | |
| 6 | ALPHABET INC (GOOG) | 2.1% | 2.0% | |
| 7 | NETFLIX INC (NFLX) | 1.4% | 1.8% | |
| 8 | BROADCOM INC (AVGO) | 1.1% | 1.7% | Entered the top 10 |
| 9 | ARES CAPITAL CORP (ARCC) | 1.5% | 1.3% | |
| 10 | AT&T INC (T) | 1.2% | 1.2% | |
| — | ELI LILLY & CO (LLY) | 1.3% | 1.0% | 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).