Q1 2026 Holdings
Filed 2026-05-14 | 41 holdings | $1.5B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Packaging Corp Amer(PKG) | COM | 695156109 | $325.2M | 1,532,500 | 21.3% |
| International Paper Co(IP) | COM | 460146103 | $271.0M | 7,590,000 | 17.7% |
| Sylvamo Corp(SLVM) | COMMON STOCK | 871332102 | $266.6M | 6,312,454 | 17.5% |
| Suzano S A(SUZ) | SPON ADS | 86959K105 | $191.4M | 19,120,000 | 12.5% |
| Fortune Brands Innovations I(FBIN) | COM | 34964C106 | $84.8M | 2,175,000 | 5.5% |
| Hormel Foods Corp(HRL) | COM | 440452100 | $64.0M | 2,825,000 | 4.2% |
| Firstcash Holdings Inc(FCFS) | COM | 33768G107 | $50.8M | 270,000 | 3.3% |
| Floor & Decor Hldgs Inc(FND) | CL A | 339750101 | $45.4M | 894,000 | 3.0% |
| Aptargroup Inc(ATR) | COM | 038336103 | $44.1M | 350,000 | 2.9% |
| Ezcorp Inc(EZPW) | CL A NON VTG | 302301106 | $36.8M | 1,450,000 | 2.4% |
| Silgan Hldgs Inc(SLGN) | COM | 827048109 | $33.8M | 870,000 | 2.2% |
| LGI Homes Inc(LGIH) | COM | 50187T106 | $25.3M | 640,000 | 1.7% |
| Mohawk Inds Inc(MHK) | COM | 608190104 | $16.2M | 165,000 | 1.1% |
| Greenbrier COS Inc(GBX) | COM | 393657101 | $13.1M | 249,561 | 0.9% |
| American Woodmark Corp(AMWD) | COM | 030506109 | $11.8M | 296,000 | 0.8% |
| Masterbrand Inc(MBC) | COMMON STOCK | 57638P104 | $10.8M | 1,300,000 | 0.7% |
| Rayonier Inc(RYN) | COM | 754907103 | $9.9M | 480,000 | 0.6% |
| Builders Firstsource Inc(BLDR) | COM | 12008R107 | $6.3M | 77,000 | 0.4% |
| Weyerhaeuser Co(WY) | COM NEW | 962166104 | $4.6M | 190,000 | 0.3% |
| Mercer Intl Inc(MERC) | COM | 588056101 | $4.5M | 3,150,000 | 0.3% |
| Select Sector Spdr TR(XLP) | STATE STREET CON | 81369Y308 | $4.1M | 50,000 | 0.3% |
| West Fraser Timber LTD(WFG) | COM | 952845105 | $3.7M | 56,000 | 0.2% |
| Boise Cascade Co del(BCC) | COM | 09739D100 | $3.1M | 41,000 | 0.2% |