Marnell Management
FARMINGTON HILLS, MIfiles as Marnell Management LLC
$197m in 65 US stocks at the end of 30 June 2026. The top 10 are 39.7% of the money. It changed about 18.2% of the portfolio this quarter.
Value
$197m
Stocks
65
Top 10 share
39.7%
Turnover
18.2%
What changed this quarter
New
Bought for the first time this quarter.
- Borr DrillingBORR1.9% of the fund
- Galaxy DigitalGLXY0.8% of the fund
- VistraVST0.7% of the fund
- NVRNVR0.6% of the fund
- Office Properties Income TrustOPI0.4% of the fund
- FermiFRMI0.3% of the fund
Added
Bought more of a stock they already held.
- Star Bulk CarriersSBLK6.5% of the fund+20%
- Core Natural ResourcesCNR5.2% of the fund+74%
- DHT HoldingsDHT4.6% of the fund+618%
- TormTRMD3.5% of the fund+6%
- TidewaterTDW3.3% of the fund+79%
- Warrior MET CoalHCC3.3% of the fund+42%
- Vornado Realty TrustVNO3.1% of the fund+10%
- First Citizens BancsharesFCNCA3.0% of the fund+13%
- Douglas EmmettDEI3.0% of the fund+14%
- Talen EnergyTLN2.8% of the fund+10%
- CompassCOMP2.7% of the fund+56%
- Okeanis Eco TankersECO2.5% of the fund+81%
- Navios Maritime Partners LPNMM2.4% of the fund+17%
- AlexandersALX2.4% of the fund+7%
- Cmb.tech NVCMBT2.2% of the fund+121%
- Sherwin-WilliamsSHW2.2% of the fund+35%
- TransoceanRIG1.8% of the fund+118%
- EchoStarECHO1.8% of the fund+615%
- Eagle MaterialsEXP1.7% of the fund+26%
- Century AluminumCENX1.7% of the fund+58%
- Himalaya ShippingHSHP1.5% of the fund+32%
- Teekay TankersTNK1.5% of the fund+88%
- FrontlineFRO1.4% of the fund+37%
- LennarLEN1.2% of the fund+43%
- International SeawaysINSW1.2% of the fund+30%
Cut
Sold some of their stake.
- TerawulfWULF4.1% of the fund-53%
- Garrett MotionGTX3.0% of the fund-10%
- JBG SMITH PropertiesJBGS2.8% of the fund-16%
- NexPoint Residential TrustNXRT1.9% of the fund-3%
- Ardmore ShippingASC1.7% of the fund-21%
- Fortune Brands InnovationsFBIN1.2% of the fund-7%
- Scorpio TankersSTNG0.9% of the fund-6%
- Hudson Pacific PropertiesHPP0.8% of the fund-14%
- Hut 8HUT0.8% of the fund-24%
- Core ScientificCORZ0.8% of the fund-65%
- Cipher DigitalCIFR0.6% of the fund-77%
- Genco Shipping & TradingGNK0.5% of the fund-56%
- Builders FirstSourceBLDR0.5% of the fund-48%
- ArcelorMittalMT0.4% of the fund-5%
- Nebius GroupNBIS0.2% of the fund-94%
- HafniaHAFN0.1% of the fund-77%
- CleansparkCLSK0.1% of the fund-94%
Sold out
Sold their entire stake.
- Seaport Entertainment GroupSEG-100%
- CelaneseCE-100%
- OlinOLN-100%
- Caesars EntertainmentCZR-100%
- West Fraser TimberWFG-100%
Holdings
- Navios Maritime Partners LPNMM
- Share
- 2.4%
- Value
- $5m
- Shares
- 67,593
+17%
- Spdr Gold TRGLD
- Share
- 0.8%
- Value
- $2m
- Shares
- 4,121
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Star Bulk CarriersSBLK | 6.5% | $13m | 515,698 | +20% |
| Core Natural ResourcesCNR | 5.2% | $10m | 128,778 | +74% |
| DHT HoldingsDHT | 4.6% | $9m | 541,871 | +618% |
| TerawulfWULF | 4.1% | $8m | 324,991 | -53% |
| TormTRMD | 3.5% | $7m | 262,876 | +6% |
| TidewaterTDW | 3.3% | $7m | 98,490 | +79% |
| Warrior MET CoalHCC | 3.3% | $6m | 79,511 | +42% |
| Vornado Realty TrustVNO | 3.1% | $6m | 156,292 | +10% |
| Garrett MotionGTX | 3.0% | $6m | 163,713 | -10% |
| First Citizens BancsharesFCNCA | 3.0% | $6m | 2,829 | +13% |
| Douglas EmmettDEI | 3.0% | $6m | 497,133 | +14% |
| JBG SMITH PropertiesJBGS | 2.8% | $6m | 381,619 | -16% |
| Talen EnergyTLN | 2.8% | $6m | 14,551 | +10% |
| CompassCOMP | 2.7% | $5m | 423,302 | +56% |
| Okeanis Eco TankersECO | 2.5% | $5m | 96,294 | +81% |
| Navios Maritime Partners LPNMM | 2.4% | $5m | 67,593 | +17% |
| AlexandersALX | 2.4% | $5m | 16,991 | +7% |
| Cmb.tech NVCMBT | 2.2% | $4m | 311,109 | +121% |
| Sherwin-WilliamsSHW | 2.2% | $4m | 12,593 | +35% |
| Borr DrillingBORR | 1.9% | $4m | 922,914 | New |
| NexPoint Residential TrustNXRT | 1.9% | $4m | 131,406 | -3% |
| TransoceanRIG | 1.8% | $4m | 740,270 | +118% |
| EchoStarECHO | 1.8% | $4m | 35,359 | +615% |
| Eagle MaterialsEXP | 1.7% | $3m | 15,039 | +26% |
| Ardmore ShippingASC | 1.7% | $3m | 236,122 | -21% |
| Century AluminumCENX | 1.7% | $3m | 71,516 | +58% |
| Himalaya ShippingHSHP | 1.5% | $3m | 217,162 | +32% |
| Teekay TankersTNK | 1.5% | $3m | 44,391 | +88% |
| FrontlineFRO | 1.4% | $3m | 81,081 | +37% |
| LennarLEN | 1.2% | $2m | 27,100 | +43% |
| International SeawaysINSW | 1.2% | $2m | 31,939 | +30% |
| Fortune Brands InnovationsFBIN | 1.2% | $2m | 44,500 | -7% |
| Navigator HoldingsNVGS | 0.9% | $2m | 99,545 | +99% |
| Scorpio TankersSTNG | 0.9% | $2m | 24,726 | -6% |
| Ramaco ResourcesMETC | 0.8% | $2m | 122,165 | +4% |
| Hudson Pacific PropertiesHPP | 0.8% | $2m | 102,186 | -14% |
| Martin Marietta MaterialsMLM | 0.8% | $2m | 2,651 | +78% |
| Spdr Gold TRGLD | 0.8% | $2m | 4,121 | Held |
| Hut 8HUT | 0.8% | $2m | 13,084 | -24% |
| Core ScientificCORZ | 0.8% | $2m | 58,944 | -65% |
| Galaxy DigitalGLXY | 0.8% | $1m | 54,342 | New |
| ValarisVAL | 0.7% | $1m | 19,075 | +12% |
| VistraVST | 0.7% | $1m | 8,542 | New |
| Alpha Metallurgical ResourcesAMR | 0.7% | $1m | 7,817 | +154% |
| Peabody EnergyBTU | 0.6% | $1m | 53,212 | +272% |
| KKRKKR | 0.6% | $1m | 13,019 | +27% |
| Cipher DigitalCIFR | 0.6% | $1m | 47,715 | -77% |
| NVRNVR | 0.6% | $1m | 162 | New |
| Seanergy Maritime HoldingsSHIP | 0.5% | $1m | 78,605 | +99% |
| Genco Shipping & TradingGNK | 0.5% | $946,918 | 38,213 | -56% |
| Builders FirstSourceBLDR | 0.5% | $928,087 | 10,372 | -48% |
| QXOQXO | 0.5% | $917,430 | 53,092 | +37% |
| Office Properties Income TrustOPI | 0.4% | $865,164 | 50,892 | New |
| ArcelorMittalMT | 0.4% | $733,961 | 12,188 | -5% |
| FermiFRMI | 0.3% | $659,199 | 71,965 | New |
| Owens CorningOC | 0.3% | $570,666 | 3,590 | Held |
| WestlakeWLK | 0.3% | $540,346 | 7,402 | +95% |
| Nebius GroupNBIS | 0.2% | $406,246 | 1,471 | -94% |
| Wyndham Hotels & ResortsWH | 0.2% | $391,324 | 4,647 | Held |
| Cleveland-CliffsCLF | 0.2% | $371,966 | 39,613 | Held |
| Berkshire HathawayBRK-B | 0.2% | $355,277 | 710 | Held |
| LennarLEN-B | 0.2% | $329,735 | 3,717 | Held |
| HafniaHAFN | 0.1% | $257,366 | 38,760 | -77% |
| Tsakos Energy NavigationTEN | 0.1% | $253,178 | 7,158 | +26% |
| CleansparkCLSK | 0.1% | $237,834 | 16,346 | -94% |
Options (4)
- Invesco QQQ TRQQQ
- Type
- Put
- Value
- $59m
- Contracts
- 80,000
- BorgwarnerBWA
- Type
- Call
- Value
- $2m
- Contracts
- 27,800
- EchoStarECHO
- Type
- Call
- Value
- $2m
- Contracts
- 15,000
- HafniaHAFN
- Type
- Call
- Value
- $1m
- Contracts
- 214,200
| Company | Type | Value | Contracts |
|---|---|---|---|
| Invesco QQQ TRQQQ | Put | $59m | 80,000 |
| BorgwarnerBWA | Call | $2m | 27,800 |
| EchoStarECHO | Call | $2m | 15,000 |
| HafniaHAFN | Call | $1m | 214,200 |
Over time and by industry
Value over time
Dec '25
Jun '26
Value is up 49.6% since 31 December 2025.
Where the money is
Industrials35.0%
Real estate17.4%
Energy15.1%
Financial services10.9%
Materials7.2%
Retail & consumer5.7%
Utilities3.5%
Media & telecom1.8%
Technology0.2%
Other3.2%
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.