DENALI ADVISORS LLC

CIK

1142941

Location

SAN DIEGO, CA

Portfolio Value

Small $873,225,008

Diversification

Diversified

Filing Date

Global Rank

#1,910 / 8,622 ▲ 67 · as of Mar 2026

Top Industry

Banks - Regional 8.8%

3Y Alpha vs SPY

-4.6%

Period ended 4 months ago

Filed May 8, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+51.5%

SPY

+67.9%

Annualised alpha

-4.0%

Max drawdown

−21.0%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

295 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

4.4%

−0.3 pts

Top 5

15.1%

−1.2 pts

Top 10

21.6%

−1.3 pts

HHI

103

Diversified−8

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	24.5%	$214,249,844	81
Technology	19.3%	$168,441,999	34
Consumer Cyclical	11.1%	$96,792,869	29
Industrials	10.3%	$89,941,802	33
Energy	6.7%	$58,595,422	25
Consumer Defensive	6.7%	$58,281,297	16
Healthcare	5.5%	$48,130,468	23
Basic Materials	5.2%	$45,518,587	22
Communication Services	5.2%	$45,363,570	10
Real Estate	4.5%	$39,363,116	18
Utilities	1.0%	$8,546,034	4

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
PLTK	Playtika Holding Corp.	+316,000	1,428,314	$3,970,712
SAFE	Safehold Inc.	+217,700	309,600	$4,188,888
HG	Hamilton Insurance Group, Ltd.	+195,500	250,800	$7,481,364
WS	Worthington Steel, Inc.	+131,715	199,415	$6,052,245
GBX	Greenbrier Companies Inc	+109,741	131,941	$6,946,693
OTF	Blue Owl Technology Finance Corp.	+80,162	188,540	$2,336,010
DFH	Dream Finders Homes, Inc.	+78,263	338,282	$4,708,885
SIGA	Siga Technologies Inc	+75,087	436,887	$2,337,345
AMPH	Amphastar Pharmaceuticals, Inc.	+54,700	266,465	$5,220,049
DLX	Deluxe Corp	+50,200	74,100	$2,040,714
ABR	Arbor Realty Trust Inc	+50,000	66,900	$515,799
BY	Byline Bancorp, Inc.	+41,664	167,416	$5,285,323
TGLS	Tecnoglass Holdings Inc.	+35,616	69,439	$3,093,507
MCY	Mercury General Corp	+34,214	38,214	$3,368,564
FG	F&G Annuities & Life, Inc.	+31,939	273,600	$6,927,552
T	At&T Inc.	+29,521	355,170	$10,296,378
FTI	TechnipFMC plc	+28,493	33,272	$2,300,093
STBA	S&T Bancorp Inc	+24,700	151,800	$6,349,794
CBT	Cabot Corp	+23,477	106,919	$8,052,069
MGRC	Mcgrath Rentcorp	+23,200	26,500	$2,922,420
BFS	Saul Centers, Inc.	+23,100	71,500	$2,329,470
PCG	PG&E Corp	+20,600	41,153	$723,058
INSW	International Seaways, Inc.	+17,300	32,528	$2,370,640
CNXN	Pc Connection Inc	+16,000	83,300	$4,869,718
CCS	Century Communities, Inc.	+14,718	37,018	$2,124,092
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
SB	Safe Bulkers, Inc.	−448,246	504,824	$3,195,535
PLAB	Photronics Inc	−184,851	128,553	$5,194,826
CMRE	Costamare Inc.	−107,200	390,777	$6,604,131
SM	SM Energy Co	−97,200	202,800	$6,323,304
REPX	Riley Exploration Permian, Inc.	−61,554	14,041	$511,794
SCSC	Scansource, Inc.	−48,538	61,799	$2,243,303
FSK	FS KKR Capital Corp	−44,442	164,469	$1,674,294
PRDO	PERDOCEO EDUCATION Corp	−43,277	7,423	$276,209
MBIN	Merchants Bancorp	−42,904	194,710	$8,355,006
PFBC	Preferred Bank	−41,784	8,816	$799,523
IBEX	IBEX Ltd	−40,875	52,629	$1,411,509
HRMY	Harmony Biosciences Holdings, Inc.	−37,928	59,900	$1,677,799
RUSHA	Rush Enterprises Inc Tx	−31,900	116,911	$7,728,986
FFBC	First Financial Bancorp /Oh/	−29,500	280,700	$7,825,916
NOG	Northern Oil & Gas, Inc.	−27,800	285,461	$8,344,025
GIC	GLOBAL INDUSTRIAL Co	−27,600	57,600	$1,815,552
OVV	Ovintiv Inc.	−17,620	6,821	$404,894
BTU	Peabody Energy Corp	−16,228	46,632	$1,536,524
ARCC	Ares Capital Corp	−14,818	377,611	$6,804,550
VICI	Vici Properties Inc.	−14,589	35,964	$982,536
LNG	Cheniere Energy, Inc.	−13,645	8,518	$2,417,067
OBDC	Blue Owl Capital Corp	−10,333	459,746	$5,084,790
BXSL	Blackstone Secured Lending Fund	−8,939	204,149	$4,836,289
HTGC	Hercules Capital, Inc.	−8,899	224,350	$3,313,649
GBDC	GOLUB CAPITAL BDC, Inc.	−7,338	365,282	$4,624,470
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
CVX	Chevron Corp	19,056	$3,942,686
PRIM	Primoris Services Corp	24,460	$3,498,758
PRG	PROG Holdings, Inc.	110,611	$3,173,429
KOP	Koppers Holdings Inc.	54,965	$2,126,046
NHC	National Healthcare Corp	13,100	$2,092,070
TTAM	Titan America SA	128,175	$1,920,061
FBRT	Franklin BSP Realty Trust, Inc.	180,800	$1,534,992
AZN	Astrazeneca PLC	7,319	$1,443,453
FLOC	Flowco Holdings Inc.	62,933	$1,296,419
REX	REX AMERICAN RESOURCES Corp	26,861	$1,224,055
PAHC	Phibro Animal Health Corp	15,949	$882,139
PLUS	Eplus Inc	11,200	$842,800
TCMD	Tactile Systems Technology Inc	20,616	$538,696
AMP	Ameriprise Financial Inc	1,102	$489,728
ALL	Allstate Corp	2,311	$479,162
CI	Cigna Group	1,500	$400,125
SFD	Smithfield Foods Inc	14,025	$392,279
AGI	Alamos Gold Inc	7,500	$333,225
GPK	Graphic Packaging Holding Co	31,399	$312,106
APA	APA Corp	7,306	$310,066
OFG	Ofg Bancorp	7,200	$291,312
FDX	Fedex Corp	800	$284,944
INGR	Ingredion Inc	2,317	$261,033
EMN	Eastman Chemical Co	3,410	$260,251
E	Eni Spa	4,502	$254,858
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
CEG	Constellation Energy Corp	12,750	$4,504,192
DNOW	DNOW Inc.	238,645	$3,162,046
HPK	HighPeak Energy, Inc.	617,628	$2,927,556
HRTG	Heritage Insurance Holdings, Inc.	85,115	$2,490,464
WSFS	Wsfs Financial Corp	43,900	$2,425,036
BZH	Beazer Homes USA Inc	84,210	$1,706,936
TEX	Terex Corp	31,353	$1,673,623
VAL	Valaris Ltd	32,097	$1,617,688
INVA	Innoviva, Inc.	77,200	$1,543,228
EFC	Ellington Financial Inc.	88,133	$1,196,846
XOM	ExxonMobil Holdings Corp	9,800	$1,179,332
KKR	KKR & Co. Inc.	8,964	$1,142,730
TCBK	Trico Bancshares /	23,600	$1,117,932
MOV	Movado Group Inc	46,566	$960,190
WABC	Westamerica Bancorporation	17,800	$851,374
ADEA	Adeia Inc.	48,300	$833,175
SAP	Sap SE	3,088	$750,106
ULH	Universal Logistics Holdings, Inc.	49,224	$747,712
NVR	Nvr Inc	100	$729,277
EXEL	Exelixis, Inc.	16,222	$711,010
VAC	MARRIOTT VACATIONS WORLDWIDE Corp	12,300	$709,587
DDS	Dillard's, Inc.	1,116	$676,675
THR	Thermon Group Holdings, Inc.	17,157	$637,554
INTU	Intuit Inc.	927	$614,063
NOW	ServiceNow, Inc.	3,615	$553,781
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

295 positions · $873,225,008 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 295 positions by value · page 1 of 6

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NVDA	Nvidia Corp Technology	Added	218,566	+1,270	$38,117,910	−5.9%	4.37%
AAPL	Apple Inc. Technology	Added	118,540	+188	$30,084,266	−6.5%	3.45%
MSFT	Microsoft Corp Technology	Added	69,715	+239	$25,806,401	−23.2%	2.96%
WLFC	Willis Lease Finance Corp Industrials	Added	40,952	+7,500	$20,917,450	+53.7%	2.40%
AMZN	Amazon Com Inc Consumer Cyclical	Added	81,586	+5	$16,991,916	−9.8%	1.95%
META	Meta Platforms, Inc. Communication Services	Added	23,822	+82	$13,629,280	−13.0%	1.56%
AVGO	Broadcom Inc. Technology	Added	40,984	+244	$12,684,957	−10.0%	1.45%
WMT	Walmart Inc. Consumer Defensive	Reduced	82,963	-142	$10,310,641	+11.4%	1.18%
T	At&T Inc. Communication Services	Added	355,170	+29,521	$10,296,378	+27.3%	1.18%
NFLX	Netflix Inc Communication Services	Reduced	102,927	-105	$9,896,431	+2.4%	1.13%
IMKTA	Ingles Markets Inc Consumer Defensive	Reduced	96,800	-322	$8,701,352	+30.7%	1.00%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	8,619	-10	$8,588,230	+15.4%	0.98%
LLY	ELI LILLY & Co Healthcare	Added	9,292	+2,571	$8,546,502	+18.3%	0.98%
MBIN	Merchants Bancorp Financial Services	Reduced	194,710	-42,904	$8,355,006	+3.2%	0.96%
NOG	Northern Oil & Gas, Inc. Energy	Reduced	285,461	-27,800	$8,344,025	+24.1%	0.96%
CAH	Cardinal Health Inc Healthcare	Added	39,216	+3,558	$8,286,732	+13.1%	0.95%
SRCE	1St Source Corp Financial Services	Reduced	119,600	-1,000	$8,277,516	+9.8%	0.95%
TSLA	Tesla, Inc. Consumer Cyclical	Added	21,990	+11	$8,174,782	−17.3%	0.94%
NTB	Bank of N.T. Butterfield & Son Ltd Financial Services	Added	154,869	+2,390	$8,127,525	+7.0%	0.93%
CBT	Cabot Corp Basic Materials	Added	106,919	+23,477	$8,052,069	+45.6%	0.92%
AEM	Agnico Eagle Mines Ltd Basic Materials	Added	39,507	+20	$8,019,130	+19.8%	0.92%
FIZZ	National Beverage Corp Consumer Defensive	Added	236,519	+13,757	$7,958,864	+12.0%	0.91%
FRME	First Merchants Corp Financial Services	Held	205,200	0	$7,947,396	+3.3%	0.91%
CATY	Cathay General Bancorp Financial Services	Added	159,062	+600	$7,930,831	+3.4%	0.91%
OTTR	Otter Tail Corp Industrials	Added	89,909	+1,206	$7,891,312	+10.1%	0.90%
IBOC	International Bancshares Corp Financial Services	Added	117,217	+5,900	$7,887,531	+6.6%	0.90%
PLTR	Palantir Technologies Inc. Technology	Added	53,662	+40	$7,849,677	−17.6%	0.90%
FFBC	First Financial Bancorp /Oh/ Financial Services	Reduced	280,700	-29,500	$7,825,916	+0.8%	0.90%
NMIH	NMI Holdings, Inc. Financial Services	Added	208,300	+10,520	$7,813,333	−3.1%	0.89%
GEF	Greif, Inc Consumer Cyclical	Reduced	115,951	-56	$7,776,833	−1.0%	0.89%
MO	Altria Group, Inc. Consumer Defensive	Added	117,199	+2,768	$7,733,962	+17.2%	0.89%
RUSHA	Rush Enterprises Inc Tx Consumer Cyclical	Reduced	116,911	-31,900	$7,728,986	−3.7%	0.89%
EFSC	Enterprise Financial Services Corp Financial Services	Held	140,800	0	$7,618,688	+0.2%	0.87%
HG	Hamilton Insurance Group, Ltd. Financial Services	Added	250,800	+195,500	$7,481,364	+384.9%	0.86%
ACT	Enact Holdings, Inc. Financial Services	Reduced	182,288	-343	$7,439,173	+2.8%	0.85%
GRBK	Green Brick Partners, Inc. Consumer Cyclical	Reduced	114,674	-400	$7,390,739	+2.5%	0.85%
TNK	Teekay Tankers Ltd. Energy	Added	100,690	+10,518	$7,382,590	+53.3%	0.85%
MHO	M/I Homes, Inc. Consumer Cyclical	Added	59,345	+4,106	$7,266,795	+2.8%	0.83%
FOR	Forestar Group Inc. Real Estate	Reduced	293,991	-1,174	$7,185,140	−1.2%	0.82%
GBX	Greenbrier Companies Inc Industrials	Added	131,941	+109,741	$6,946,693	+569.5%	0.80%
FG	F&G Annuities & Life, Inc. Financial Services	Added	273,600	+31,939	$6,927,552	−7.1%	0.79%
CAT	Caterpillar Inc Industrials	Added	9,697	+3	$6,869,936	+23.7%	0.79%
ARCC	Ares Capital Corp Financial Services	Reduced	377,611	-14,818	$6,804,550	−14.3%	0.78%
SD	Sandridge Energy Inc Energy	Added	407,451	+1,458	$6,645,525	+13.4%	0.76%
CMRE	Costamare Inc. Industrials	Reduced	390,777	-107,200	$6,604,131	−16.0%	0.76%
STBA	S&T Bancorp Inc Financial Services	Added	151,800	+24,700	$6,349,794	+27.0%	0.73%
CCSI	Consensus Cloud Solutions, Inc. Technology	Reduced	267,184	-3,881	$6,342,948	+7.2%	0.73%
SM	SM Energy Co Energy	Reduced	202,800	-97,200	$6,323,304	+12.7%	0.72%
WM	Waste Management Inc Industrials	Reduced	26,726	-27	$6,141,367	+4.5%	0.70%
WS	Worthington Steel, Inc. Basic Materials	Added	199,415	+131,715	$6,052,245	+158.2%	0.69%