SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Verdad Advisers, LP

CIK 0001812822 · 695 ATLANTIC AVENUE, 4TH FLOOR, BOSTON, MA, 02111 · 2022516707

Reported Value
$49M
Q4 2023
Positions
53
Filings on Record
18
2021–present window
Filed
Feb 9, 2024
original filing

Summary

Verdad Advisers, LP reported $49M in U.S.-listed holdings across 53 positions for Q4 2023.

Its largest position, Vanguard Intl Equity Index F, represents 14.2% of the portfolio.

Compared with Q3 2023, the fund opened 10 new positions and exited 8.

Portfolio Metrics

Turnover
+35.2%
vs prior filed quarter
Top-10 Concentration
+52.0%
share of reported value
Largest Position
+14.2%
Vanguard Intl Equity Index F
New / Exited
10 / 8
positions this quarter

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

13F Reported Value
Q4 ’20: $265MQ4 ’20Q1 ’21: $314MQ2 ’21: $51MQ3 ’21: $138MQ3 ’21Q4 ’21: $148MQ1 ’22: $122MQ2 ’22: $106MQ2 ’22Q3 ’22: $69MQ4 ’22: $99MQ1 ’23: $50MQ1 ’23Q2 ’23: $64MQ3 ’23: $65MQ4 ’23: $49MQ4 ’23Q1 ’24: $92MQ2 ’24: $87MQ3 ’24: $75MQ3 ’24Q4 ’25: $87MQ1 ’26: $89Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 62.7%ETP: 24.9%ADR: 6.2%Other: 4.2%MLP: 2.0%
  • Common Stock · 62.7% · $31M
  • ETP · 24.9% · $12M
  • ADR · 6.2% · $3M
  • Other · 4.2% · $2M
  • MLP · 2.0% · $979,464

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VANGUARD INTL EQUITY INDEX FNEW+61.0K61.0K+$7M$7M
IWNISHARES TRNEW+26.0K26.0K+$4M$4M
IWMISHARES TRNEW+6.0K6.0K+$1M$1M
JILLJ JILL INCNEW+20.0K20.0K+$515,548$515,548
RNRRENAISSANCERE HLDGS LTDNEW+2.5K2.5K+$490,000$490,000
UPLAND SOFTWARE INCNEW+79.6K79.6K+$336,606$336,606
SXCSUNCOKE ENERGY INCNEW+24.0K24.0K+$257,760$257,760
ACCOACCO BRANDS CORPNEW+42.0K42.0K+$255,360$255,360

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2023

52 positions (from 53 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VANGUARD INTL EQUITY INDEX FFTSE SMCAP ETF14.24%$7M61.0K
2IWNISHARES TRRUS 2000 VAL ETF · RUSSELL 2000 ETF10.64%$5M32.0K
3ASOACADEMY SPORTS & OUTDOORS INhistory →COM5.22%$3M39.0K
4RYZRYERSON HLDG CORPhistory →COM3.87%$2M55.0K
5ARC DOCUMENT SOLUTIONS INCCOM3.70%$2M556.3K
6DASEKE INCCOM3.29%$2M200.0K
7FFWMFIRST FNDTN INChistory →COM3.24%$2M165.0K
8CXWCORECIVIC INChistory →COM2.65%$1M90.0K
9IMOSCHIPMOS TECHNOLOGIES INChistory →SPONSORD ADS NEW2.64%$1M47.8K
10EQNREQUINOR ASAhistory →SPONSORED ADR2.54%$1M39.5K
11SOUTHWESTERN ENERGY COCOM2.53%$1M190.0K
12MCSMARCUS CORP DELhistory →COM2.44%$1M82.4K
13CFGCITIZENS FINL GROUP INChistory →COM2.35%$1M35.0K
14PGRPROGRESSIVE CORPhistory →COM1.94%$955,6806.0K
15GWWGRAINGER W W INChistory →COM1.78%$878,4111.1K
16VTRSVIATRIS INChistory →COM1.77%$871,81580.5K
17MSFTMICROSOFT CORPhistory →COM1.76%$866,7722.3K
18KRKROGER COhistory →COM1.75%$861,63418.9K
19MGMISTRAS GROUP INChistory →COM1.66%$819,840112.0K
20EGBNEAGLE BANCORP INC MDhistory →COM1.65%$813,78027.0K
21EGEVEREST GROUP LTDhistory →COM1.61%$795,5552.3K
22SHWSHERWIN WILLIAMS COhistory →COM1.58%$779,7502.5K
23RSRELIANCE STEEL & ALUMINUM COhistory →COM1.42%$699,2002.5K
24PAGSPAGSEGURO DIGITAL LTDhistory →COM CL A1.38%$681,62354.7K
25VSTVISTRA CORPhistory →COM1.37%$674,10017.5K
26PAAPLAINS ALL AMERN PIPELINE Lhistory →UNIT LTD PARTN1.23%$606,00040.0K
27ACHOWENS & MINOR INC NEWhistory →COM1.21%$597,37031.0K
28ULHUNIVERSAL LOGISTICS HLDGS INhistory →COM1.14%$560,40020.0K
29SPOTSPOTIFY TECHNOLOGY S Ahistory →SHS1.12%$554,3353.0K
30QCOMQUALCOMM INChistory →COM1.06%$520,6683.6K
31JILLJ JILL INChistory →COM1.05%$515,54820.0K
32AMZNAMAZON COM INChistory →COM1.02%$504,4413.3K
33HCAHCA HEALTHCARE INChistory →COM1.02%$500,7581.9K
34BHPBHP GROUP LTDhistory →SPONSORED ADS1.01%$498,6637.3K
35RNRRENAISSANCERE HLDGS LTDCOM0.99%$490,0002.5K
36ASMLASML HOLDING N VN Y REGISTRY SHS0.92%$454,152600
37IMKTAINGLES MKTS INCCL A0.88%$431,8505.0K
38TSCOTRACTOR SUPPLY COCOM0.85%$419,3091.9K
39IMMRIMMERSION CORPCOM0.82%$402,42057.0K
40BSMBLACK STONE MINERALS L PCOM UNIT0.76%$373,46423.4K
41PATTERSON COS INCCOM0.72%$352,78012.4K
42UPLAND SOFTWARE INCCOM0.68%$336,60679.6K
43TTMITTM TECHNOLOGIES INCCOM0.59%$290,90418.4K
44SXCSUNCOKE ENERGY INCCOM0.52%$257,76024.0K
45ACCOACCO BRANDS CORPCOM0.52%$255,36042.0K
46PERION NETWORK LTDSHS NEW0.50%$246,9608.0K
47SNFCASECURITY NATL FINL CORPCL A NEW0.49%$241,78526.9K
48RGPRESOURCES CONNECTION INCCOM0.45%$220,92415.6K
49SALMSALEM MEDIA GROUP INCCL A0.44%$219,083561.8K
50KEYKEYCORPCOM0.41%$201,60014.0K
51JAKKJAKKS PAC INCCOM NEW0.36%$177,7505.0K
52OGNORGANON & COCOMMON STOCK0.20%$100,9407.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$89M179May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$87M104Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2024$75M93Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$87M111Aug 6, 202413F-HRchanges · EDGAR ↗
Q1 2024$92M147May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$49M53Feb 9, 202413F-HRchanges · EDGAR ↗
Q3 2023$65M51Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$64M46Aug 9, 202313F-HRchanges · EDGAR ↗
Q1 2023$50M38May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$99M29Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$69M25Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$106M28Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$122M34May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$148M42Feb 9, 202213F-HRchanges · EDGAR ↗
Q3 2021$138M46Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$51M22Aug 10, 202113F-HRchanges · EDGAR ↗
Q1 2021$314M37May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$265M39Feb 16, 202113F-HRchanges · 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 ↗.