Ballast Asset Management, LP
DALLAS, TX
$251m in 53 US stocks at the end of 30 June 2026. The top 10 are 29.1% of the money. It changed about 12.9% of the portfolio this quarter.
Value
$251m
Stocks
53
Top 10 share
29.1%
Turnover
12.9%
What changed this quarter
New
Bought for the first time this quarter.
- PaysignPAYS1.5% of the fund
- Barnes & Noble EducationBNED1.5% of the fund
- Third Coast BancsharesTCBX1.3% of the fund
Added
Bought more of a stock they already held.
- GpgiGPGI2.4% of the fund+29%
- Mueller IndustriesMLI2.4% of the fund+29%
- Hillman SolutionsHLMN2.0% of the fund+33%
- CabotCBT1.9% of the fund+29%
- CriteoCRTO1.9% of the fund+10%
- Cass Information SystemsCASS1.6% of the fund+51%
- GenpactG1.3% of the fund+44%
- SPS CommerceSPSC1.3% of the fund+50%
Cut
Sold some of their stake.
- Solaris Energy InfrastructureSEI2.5% of the fund-33%
- GEO GroupGEO2.4% of the fund-37%
- Royal GoldRGLD1.5% of the fund-28%
- KnowlesKN1.3% of the fund-54%
- FerroglobeGSM0.8% of the fund-28%
Sold out
Sold their entire stake.
Holdings
- Bank OZKOZK
- Share
- 1.5%
- Value
- $4m
- Shares
- 71,665
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| AZZAZZ | 3.4% | $9m | 55,508 | Held |
| BEL FuseBELFB | 3.1% | $8m | 23,493 | Held |
| Federal Agricultural MortgageAGM | 3.0% | $7m | 37,226 | Held |
| Cavco IndustriesCVCO | 2.9% | $7m | 11,995 | Held |
| Climb Global SolutionsCLMB | 2.9% | $7m | 315,770 | Held |
| Natural Resource Partners LPNRP | 2.9% | $7m | 74,806 | Held |
| Landstar SystemLSTR | 2.8% | $7m | 33,919 | Held |
| EcovystECVT | 2.7% | $7m | 549,113 | Held |
| Merchants BancorpMBIN | 2.7% | $7m | 135,270 | Held |
| Capital BancorpCBNK | 2.6% | $7m | 187,859 | Held |
| Consensus Cloud SolutionsCCSI | 2.5% | $6m | 164,457 | Held |
| Solaris Energy InfrastructureSEI | 2.5% | $6m | 77,119 | -33% |
| TerexTEX | 2.4% | $6m | 84,308 | Held |
| GEO GroupGEO | 2.4% | $6m | 200,700 | -37% |
| GpgiGPGI | 2.4% | $6m | 373,895 | +29% |
| Mueller IndustriesMLI | 2.4% | $6m | 48,033 | +29% |
| Turning Point BrandsTPB | 2.2% | $6m | 66,229 | Held |
| BrukerBRKR | 2.2% | $5m | 89,714 | Held |
| MetallusMTUS | 2.1% | $5m | 283,657 | Held |
| Hillman SolutionsHLMN | 2.0% | $5m | 593,050 | +33% |
| Eagle MaterialsEXP | 2.0% | $5m | 21,776 | Held |
| BrinksBCO | 1.9% | $5m | 50,741 | Held |
| CabotCBT | 1.9% | $5m | 52,510 | +29% |
| CriteoCRTO | 1.9% | $5m | 256,488 | +10% |
| RCM TechnologiesRCMT | 1.8% | $5m | 159,631 | Held |
| Extreme NetworksEXTR | 1.8% | $4m | 138,328 | Held |
| Patrick IndustriesPATK | 1.8% | $4m | 49,273 | Held |
| Epsilon EnergyEPSN | 1.7% | $4m | 806,322 | Held |
| EPR PropertiesEPR | 1.7% | $4m | 74,891 | Held |
| Kosmos EnergyKOS | 1.7% | $4m | 2,008,153 | Held |
| Mgic InvestmentMTG | 1.7% | $4m | 147,998 | Held |
| Collegium PharmaceuticalCOLL | 1.6% | $4m | 112,111 | Held |
| Core Natural ResourcesCNR | 1.6% | $4m | 50,430 | Held |
| Cass Information SystemsCASS | 1.6% | $4m | 77,287 | +51% |
| PaysignPAYS | 1.5% | $4m | 467,476 | New |
| Royal GoldRGLD | 1.5% | $4m | 19,045 | -28% |
| Barnes & Noble EducationBNED | 1.5% | $4m | 299,611 | New |
| Bank OZKOZK | 1.5% | $4m | 71,665 | Held |
| ATN InternationalATNI | 1.4% | $4m | 136,243 | Held |
| Bausch & LombBLCO | 1.4% | $4m | 217,470 | Held |
| PhiniaPHIN | 1.4% | $3m | 41,737 | Held |
| GenpactG | 1.3% | $3m | 119,326 | +44% |
| KnowlesKN | 1.3% | $3m | 78,637 | -54% |
| Third Coast BancsharesTCBX | 1.3% | $3m | 80,250 | New |
| SPS CommerceSPSC | 1.3% | $3m | 56,249 | +50% |
| DonaldsonDCI | 1.2% | $3m | 34,761 | Held |
| IPG PhotonicsIPGP | 1.2% | $3m | 25,875 | Held |
| Ingles MarketsIMKTA | 1.1% | $3m | 31,648 | Held |
| QuidelOrthoQDEL | 1.0% | $3m | 144,526 | Held |
| TripAdvisorTRIP | 1.0% | $2m | 181,645 | Held |
| AdvanSixASIX | 0.9% | $2m | 116,048 | Held |
| FerroglobeGSM | 0.8% | $2m | 626,195 | -28% |
| Alpha Metallurgical ResourcesAMR | 0.5% | $1m | 7,738 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 30.3% since 30 June 2025.
Where the money is
Industrials22.9%
Technology17.1%
Financial services15.1%
Materials14.9%
Energy8.4%
Retail & consumer7.0%
Health care6.2%
Everyday goods3.4%
Media & telecom3.3%
Real estate1.7%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.