Forest Avenue Capital Management LP's Q1 2026 13F: 12 new positions, 9 exits
Form 13F-HR for the quarter ended Mar 31, 2026 · filed May 14, 2026 · 25 reported positions · accession 0001944889-26-000003
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | CARPENTER TECHNOLOGY CORP (CRS) | 13.1% | 9.3% | −3.7 pts | −255K sh | −40% |
| New | EVERUS CONSTR GROUP (ECG) | — | 5.3% | +5.3 pts | +715K sh | new |
| Exited | ROYAL CARIBBEAN GROUP (RCL) | 5.3% | — | −5.3 pts | −290K sh | −100% |
| Reduced | MASTEC INC (MTZ) | 7.1% | 5.5% | −1.6 pts | −224K sh | −45% |
| Exited | XPO INC (XPO) | 4.2% | — | −4.2 pts | −467K sh | −100% |
| Reduced | VIKING HOLDINGS LTD (VIK) | 13.5% | 9.5% | −4.0 pts | −826K sh | −29% |
| Reduced | ARGAN INC (AGX) | 3.8% | 2.6% | −1.3 pts | −111K sh | −60% |
| New | CHENIERE ENERGY INC (LNG) | — | 3.1% | +3.1 pts | +172K sh | new |
| Exited | BATH & BODY WORKS INC (BBWI) | 2.9% | — | −2.9 pts | −2.21M sh | −100% |
| New | REGAL REXNORD CORPORATION (RRX) | — | 2.8% | +2.8 pts | +239K sh | new |
| Reduced | WOODWARD INC (WWD) | 6.9% | 5.0% | −1.8 pts | −123K sh | −36% |
| Increased | PAR PAC HOLDINGS INC (PARR) | 1.8% | 5.6% | +3.8 pts | +625K sh | +79% |
| New | CONSTELLATION ENERGY CORP (CEG) | — | 2.4% | +2.4 pts | +134K sh | new |
| New | NORWEGIAN CRUISE LINE HLDGS (NCLH) | — | 2.3% | +2.3 pts | +1.97M sh | new |
| New | VENTURE GLOBAL INC (VG) | — | 2.0% | +2.0 pts | +2.03M sh | new |
| New | ANTERO RESOURCES CORP (AR) | — | 2.0% | +2.0 pts | +748K sh | new |
| Exited | FIRST SOLAR INC (FSLR) | 2.0% | — | −2.0 pts | −116K sh | −100% |
| New | HUNTINGTON INGALLS INDS INC (HII) | — | 2.0% | +2.0 pts | +82,809 sh | new |
| New | DELEK US HLDGS INC NEW (DK) | — | 1.9% | +1.9 pts | +654K sh | new |
| New | TERAWULF INC (WULF) | — | 1.8% | +1.8 pts | +1.97M sh | new |
| Exited | LIBERTY ENERGY INC (LBRT) | 1.7% | — | −1.7 pts | −1.38M sh | −100% |
| Increased | VISTRA CORP (VST) | 11.9% | 12.3% | +0.4 pts | +176K sh | +16% |
| Exited | TALEN ENERGY CORP (TLN) | 1.7% | — | −1.7 pts | −66,880 sh | −100% |
| Exited | KNIGHT-SWIFT TRANSN HLDGS IN (KNX) | 1.6% | — | −1.6 pts | −471K sh | −100% |
| Increased | LEGGETT & PLATT INC (LEG) | 0.9% | 2.3% | +1.4 pts | +2.47M sh | +200% |
| Increased | SOMNIGROUP INTERNATIONAL INC (SGI) | 4.1% | 4.7% | +0.6 pts | +317K sh | +46% |
| Increased | QXO INC (QXO) | 4.7% | 5.7% | +0.9 pts | +888K sh | +24% |
| New | CORE NATURAL RESOURCES INC (CNR) | — | 1.0% | +1.0 pts | +152K sh | new |
| Increased | PEABODY ENGR CORP (BTU) | 2.3% | 3.4% | +1.1 pts | +472K sh | +40% |
| Exited | PROPETRO HLDG CORP (PUMP) | 1.0% | — | −1.0 pts | −1.53M sh | −100% |
| Exited | FRONTLINE PLC (FRO) | 0.8% | — | −0.8 pts | −546K sh | −100% |
| Reduced | WARRIOR MET COAL INC (HCC) | 2.4% | 1.7% | −0.7 pts | −122K sh | −30% |
| Reduced | CORE & MAIN INC (CNM) | 6.4% | 5.6% | −0.8 pts | −71,828 sh | −4% |
| New | NOVONIX LIMITED (NVX) | — | 0.1% | +0.1 pts | +1.2M sh | new |
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 — 68.7% of the equity book
Changes in the top 10 this quarter: PARR entered · ECG entered · RCL left · XPO left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | VISTRA CORP (VST) | 11.9% | 12.3% | |
| 2 | VIKING HOLDINGS LTD (VIK) | 13.5% | 9.5% | |
| 3 | CARPENTER TECHNOLOGY CORP (CRS) | 13.1% | 9.3% | |
| 4 | QXO INC (QXO) | 4.7% | 5.7% | |
| 5 | CORE & MAIN INC (CNM) | 6.4% | 5.6% | |
| 6 | PAR PAC HOLDINGS INC (PARR) | 1.8% | 5.6% | Entered the top 10 |
| 7 | MASTEC INC (MTZ) | 7.1% | 5.5% | |
| 8 | EVERUS CONSTR GROUP (ECG) | 0.0% | 5.3% | Entered the top 10 |
| 9 | WOODWARD INC (WWD) | 6.9% | 5.0% | |
| 10 | SOMNIGROUP INTERNATIONAL INC (SGI) | 4.1% | 4.7% | |
| — | ROYAL CARIBBEAN GROUP (RCL) | 5.3% | 0.0% | Left the top 10 |
| — | XPO INC (XPO) | 4.2% | 0.0% | 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).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| New | INVESCO QQQ TR (QQQ) | Put | 0 | 180K | $104M |