Managers / Q3 2023 · view latest →
Verdad Advisers, LP
CIK 0001812822 · 695 ATLANTIC AVENUE, 4TH FLOOR, BOSTON, MA, 02111 · 2022516707
Summary
Verdad Advisers, LP reported $65M in U.S.-listed holdings across 51 positions for Q3 2023.
The portfolio is heavily concentrated: DIHP alone accounts for 20.7% of reported value.
Compared with Q2 2023, the fund opened 15 new positions and exited 10.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- ETP · 46.8% · $31M
- Common Stock · 43.4% · $28M
- ADR · 5.0% · $3M
- Other · 3.3% · $2M
- MLP · 1.6% · $1M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SPYSPDR S&P 500 ETF TR | NEW | +25.0K | 25.0K | +$11M | $11M |
| DUHPDIMENSIONAL ETF TRUST | NEW | +251.5K | 251.5K | +$6M | $6M |
| IEFAISHARES TR | NEW | +100.0K | 100.0K | +$6M | $6M |
| GWWGRAINGER W W INC | NEW | +1.6K | 1.6K | +$1M | $1M |
| CFGCITIZENS FINL GROUP INC | NEW | +35.0K | 35.0K | +$938,000 | $938,000 |
| ACHOWENS & MINOR INC NEW | NEW | +53.8K | 53.8K | +$869,408 | $869,408 |
| EGBNEAGLE BANCORP INC MD | NEW | +40.5K | 40.5K | +$868,725 | $868,725 |
| RSRELIANCE STEEL & ALUMINUM CO | NEW | +2.5K | 2.5K | +$655,575 | $655,575 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | DIHPDIMENSIONAL ETF TRUST | INTL HIGH PROFIT · US HIGH PROFITAB | 20.65% | $14M | 555.5K |
| 2 | SPYSPDR S&P 500 ETF TRhistory → | TR UNIT | 16.34% | $11M | 25.0K |
| 3 | IEFAISHARES TRhistory → | CORE MSCI EAFE | 9.84% | $6M | 100.0K |
| 4 | ARC DOCUMENT SOLUTIONS INC | COM | 3.26% | $2M | 670.4K |
| 5 | RYZRYERSON HLDG CORPhistory → | COM | 3.26% | $2M | 73.2K |
| 6 | MCSMARCUS CORP DELhistory → | COM | 2.72% | $2M | 115.0K |
| 7 | ASOACADEMY SPORTS & OUTDOORS INhistory → | COM | 2.17% | $1M | 30.0K |
| 8 | MSFTMICROSOFT CORPhistory → | COM | 1.88% | $1M | 3.9K |
| 9 | SOUTHWESTERN ENERGY CO | COM | 1.87% | $1M | 190.0K |
| 10 | IMOSCHIPMOS TECHNOLOGIES INChistory → | SPONSORD ADS NEW | 1.76% | $1M | 50.0K |
| 11 | DASEKE INC | COM | 1.71% | $1M | 217.8K |
| 12 | GWWGRAINGER W W INChistory → | COM | 1.69% | $1M | 1.6K |
| 13 | CXWCORECIVIC INChistory → | COM | 1.55% | $1M | 90.0K |
| 14 | KRKROGER COhistory → | COM | 1.47% | $962,125 | 21.5K |
| 15 | CFGCITIZENS FINL GROUP INChistory → | COM | 1.43% | $938,000 | 35.0K |
| 16 | EGEVEREST GROUP LTDhistory → | COM | 1.39% | $908,733 | 2.4K |
| 17 | ACHOWENS & MINOR INC NEWhistory → | COM | 1.33% | $869,408 | 53.8K |
| 18 | EGBNEAGLE BANCORP INC MDhistory → | COM | 1.33% | $868,725 | 40.5K |
| 19 | HCAHCA HEALTHCARE INChistory → | COM | 1.20% | $787,136 | 3.2K |
| 20 | TSMTAIWAN SEMICONDUCTOR MFG LTDhistory → | SPONSORED ADS | 1.16% | $756,030 | 8.7K |
| 21 | PAGSPAGSEGURO DIGITAL LTDhistory → | COM CL A | 1.13% | $740,460 | 86.0K |
| 22 | PGRPROGRESSIVE CORPhistory → | COM | 1.12% | $734,808 | 5.3K |
| 23 | EQNREQUINOR ASAhistory → | SPONSORED ADR | 1.10% | $721,380 | 22.0K |
| 24 | RSRELIANCE STEEL & ALUMINUM COhistory → | COM | 1.00% | $655,575 | 2.5K |
| 25 | SHWSHERWIN WILLIAMS CO | COM | 0.97% | $637,625 | 2.5K |
| 26 | ULHUNIVERSAL LOGISTICS HLDGS IN | COM | 0.96% | $629,500 | 25.0K |
| 27 | PAAPLAINS ALL AMERN PIPELINE L | UNIT LTD PARTN | 0.94% | $612,800 | 40.0K |
| 28 | BHPBHP GROUP LTD | SPONSORED ADS | 0.93% | $608,616 | 10.7K |
| 29 | KEYKEYCORP | COM | 0.89% | $581,040 | 54.0K |
| 30 | VSTVISTRA CORP | COM | 0.89% | $580,650 | 17.5K |
| 31 | QCOMQUALCOMM INC | COM | 0.87% | $566,406 | 5.1K |
| 32 | MGMISTRAS GROUP INC | COM | 0.83% | $545,000 | 100.0K |
| 33 | VTRSVIATRIS INC | COM | 0.83% | $542,300 | 55.0K |
| 34 | SALMSALEM MEDIA GROUP INC | CL A | 0.72% | $472,615 | 801.0K |
| 35 | SPOTSPOTIFY TECHNOLOGY S A | SHS | 0.70% | $456,188 | 3.0K |
| 36 | OXYOCCIDENTAL PETE CORP | COM | 0.69% | $454,160 | 7.0K |
| 37 | BLUEGREEN VACATIONS HLDG COR | CLASS A | 0.69% | $453,585 | 12.4K |
| 38 | AMZNAMAZON COM INC | COM | 0.65% | $422,038 | 3.3K |
| 39 | BSMBLACK STONE MINERALS L P | COM UNIT | 0.62% | $403,182 | 23.4K |
| 40 | TSCOTRACTOR SUPPLY CO | COM | 0.61% | $395,948 | 1.9K |
| 41 | IMMRIMMERSION CORP | COM | 0.58% | $376,770 | 57.0K |
| 42 | IMKTAINGLES MKTS INC | CL A | 0.58% | $376,650 | 5.0K |
| 43 | PATTERSON COS INC | COM | 0.56% | $367,536 | 12.4K |
| 44 | FFWMFIRST FNDTN INC | COM | 0.56% | $364,800 | 60.0K |
| 45 | ASMLASML HOLDING N V | N Y REGISTRY SHS | 0.54% | $353,196 | 600 |
| 46 | TTMITTM TECHNOLOGIES INC | COM | 0.54% | $351,624 | 27.3K |
| 47 | JAKKJAKKS PAC INC | COM NEW | 0.51% | $332,780 | 17.9K |
| 48 | OGNORGANON & CO | COMMON STOCK | 0.47% | $309,008 | 17.8K |
| 49 | RGPRESOURCES CONNECTION INC | COM | 0.36% | $232,462 | 15.6K |
| 50 | DXCDXC TECHNOLOGY CO | COM | 0.16% | $104,150 | 5.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $89M | 179 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $87M | 104 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $75M | 93 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $87M | 111 | Aug 6, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $92M | 147 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $49M | 53 | Feb 9, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $65M | 51 | Nov 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $64M | 46 | Aug 9, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $50M | 38 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $99M | 29 | Feb 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $69M | 25 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $106M | 28 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $122M | 34 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $148M | 42 | Feb 9, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $138M | 46 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $51M | 22 | Aug 10, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $314M | 37 | May 14, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $265M | 39 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.