Q2 2026 Holdings
Filed 2026-08-13 | 51 holdings | $2.3B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| International Paper Co(IP) | COM | 460146103 | $374.9M | 9,840,000 | 16.1% |
| Packaging Corp of America(PKG) | COM | 695156109 | $365.2M | 1,532,500 | 15.6% |
| Waste Connections Inc(WCN) | COM | 94106B101 | $251.7M | 1,510,000 | 10.8% |
| Sylvamo Corp(SLVM) | COMMON STOCK | 871332102 | $238.6M | 6,312,454 | 10.2% |
| Suzano SA(SUZ) | SPON ADS | 86959K105 | $188.7M | 24,320,000 | 8.1% |
| Fortune Brands Innovations Inc(FBIN) | COM | 34964C106 | $100.2M | 1,825,000 | 4.3% |
| Aptargroup Inc(ATR) | COM | 038336103 | $83.9M | 670,000 | 3.6% |
| Rayonier Inc(RYN) | COM | 754907103 | $83.8M | 3,940,000 | 3.6% |
| Weyerhaeuser Co(WY) | COM NEW | 962166104 | $72.8M | 3,040,000 | 3.1% |
| Builders FirstSource Inc(BLDR) | COM | 12008R107 | $64.2M | 718,000 | 2.8% |
| LGI Homes Inc(LGIH) | COM | 50187T106 | $61.6M | 967,000 | 2.6% |
| Firstcash Holdings Inc(FCFS) | COM | 33768G107 | $58.4M | 270,000 | 2.5% |
| Floor & Decor Holdings Inc(FND) | CL A | 339750101 | $55.2M | 930,000 | 2.4% |
| Ezcorp Inc-Cl A(nsm)(EZPW) | CL A NON VTG | 302301106 | $50.1M | 1,450,000 | 2.1% |
| West Fraser Timber Co Ltd(WFG) | COM | 952845105 | $50.1M | 740,000 | 2.1% |
| Silgan Holdings Inc(SLGN) | COM | 827048109 | $48.2M | 1,040,000 | 2.1% |
| Masterbrand Inc(MBC) | COMMON STOCK | 57638P104 | $47.6M | 4,624,400 | 2.0% |
| Greenbrier Companies Inc(GBX) | COM | 393657101 | $38.6M | 787,588 | 1.7% |
| Boise Cascade Co(BCC) | COM | 09739D100 | $34.5M | 445,000 | 1.5% |
| Cemex Sab-Spons ADR Part CER(CX) | SPON ADR NEW | 151290889 | $25.4M | 2,120,000 | 1.1% |
| Meritage Homes Corp(MTH) | COM | 59001A102 | $18.4M | 220,000 | 0.8% |
| Janus International Group in(JBI) | COM | 47103N106 | $18.0M | 3,240,000 | 0.8% |
| Sonoco Products Co(SON) | COM | 835495102 | $2.8M | 50,000 | 0.1% |
| Vulcan Materials Co(VMC) | COM | 929160109 | $1.5M | 5,000 | 0.1% |
| Mercer International Inc(MERC) | COM | 588056101 | $393.9K | 596,791 | 0.0% |