SEC 13F Intelligence

Managers / Q1 2026

Marnell Management LLC

CIK 0001852314 · 30445 NORTHWESTERN HIGHWAY, SUITE 235, FARMINGTON HILLS, MI, 48334 · 248-579-4531

Reported Value
$288M
Q1 2026
Positions
72
Filings on Record
2
2019–present window
Filed
May 14, 2026
original filing

Summary

Marnell Management LLC reported $288M in U.S.-listed holdings across 72 positions for Q1 2026.

Its largest position, WULF, represents 3.4% of the portfolio.

Compared with Q4 2025, the fund opened 18 new positions and exited 9.

Portfolio Metrics

Turnover
+12.3%
vs prior filed quarter
Top-10 Concentration
+22.4%
share of reported value
Largest Position
+3.4%
Terawulf
New / Exited
18 / 9
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. 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 ’25: $206MQ4 ’25Q1 ’26: $288MQ1 ’26filingsflow.com

Portfolio Composition

By security type
ETP: 43.0%Common Stock: 26.1%Other: 22.9%REIT: 7.7%NY Reg Shrs: 0.2%
  • ETP · 43.0% · $124M
  • Common Stock · 26.1% · $75M
  • Other · 22.9% · $66M
  • REIT · 7.7% · $22M
  • NY Reg Shrs · 0.2% · $669,918

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES TRNEW+250.0K250.0K+$20M$20M
NDQINVESCO QQQ TRNEW+30.0K30.0K+$17M$17M
DEIDOUGLAS EMMETT INCNEW+436.3K436.3K+$4M$4M
CIFRCIPHER DIGITAL INCNEW+205.9K205.9K+$3M$3M
HIMALAYA SHIPPING LTDNEW+164.0K164.0K+$2M$2M
CLSKCLEANSPARK INCNEW+254.4K254.4K+$2M$2M
COMPCOMPASS INCNEW+271.8K271.8K+$2M$2M
FBINFORTUNE BRANDS INNOVATIONS INEW+48.1K48.1K+$2M$2M

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

Holdings — Q1 2026

42 positions
#IssuerClass% PortfolioValueShares
1WULFTERAWULF INChistory →COM3.45%$10M686.8K
2STAR BULK CARRIERS CORP.SHS PAR3.44%$10M430.3K
3CNRCORE NATURAL RESOURCES INChistory →COM SHS2.69%$8M74.0K
4TORM PLCSHS CL A2.40%$7M247.8K
5JBGSJBG SMITH PPTYShistory →COM2.30%$7M451.9K
6HCCWARRIOR MET COAL INChistory →COM1.81%$5M55.9K
7FCNCAFIRST CTZNS BANCSHARES INC Dhistory →CL A1.64%$5M2.5K
8TDWTIDEWATER INC NEWhistory →COM1.60%$5M55.1K
9ARDMORE SHIPPING CORPCOM1.59%$5M299.4K
10TLNTALEN ENERGY CORPhistory →COM1.47%$4M13.3K
11DEIDOUGLAS EMMETT INChistory →COM1.43%$4M436.3K
12NAVIOS MARITIME PARTNERS LPCOM UNIT LPI1.35%$4M57.7K
13ALXALEXANDERS INChistory →COM1.30%$4M15.8K
14VNOVORNADO RLTY TRhistory →SH BEN INT1.29%$4M142.6K
15NXRTNEXPOINT RESIDENTIAL TR INChistory →COM1.18%$3M135.6K
16GTXGARRETT MOTION INChistory →COM1.15%$3M181.9K
17SHWSHERWIN WILLIAMS COhistory →COM1.04%$3M9.3K
18OKEANIS ECO TANKERS CORSHS0.94%$3M53.3K
19CENXCENTURY ALUM COCOM0.92%$3M45.3K
20CIFRCIPHER DIGITAL INCCOM0.92%$3M205.9K
21CORZCORE SCIENTIFIC INC NEWCOM0.89%$3M170.5K
22NEBIUS GROUP N.V.SHS CLASS A0.84%$2M23.4K
23EXPEAGLE MATLS INCCOM0.79%$2M11.9K
24TRANSOCEAN LTDREGISTERED SHS0.78%$2M339.3K
25HIMALAYA SHIPPING LTDORD SHS0.76%$2M164.0K
26CLSKCLEANSPARK INCCOM NEW0.75%$2M254.4K
27FRONTLINE PLCCOM0.72%$2M59.3K
28COMPCOMPASS INCCL A0.69%$2M271.8K
29SCORPIO TANKERS INCSHS0.68%$2M26.3K
30GENCO SHIPPING & TRADING LTDSHS0.67%$2M86.0K
31FBINFORTUNE BRANDS INNOVATIONS ICOM0.65%$2M48.1K
32METCRAMACO RES INCCOM CL A0.63%$2M117.7K
33INTERNATIONAL SEAWAYS INCCOM0.62%$2M24.6K
34CMB.TECH NVSHS0.62%$2M140.6K
35GQ9SPDR GOLD TRGOLD SHS0.62%$2M4.1K
36TEEKAY TANKERS LTDCL A0.60%$2M23.6K
37VALARIS LTDCL A0.58%$2M17.1K
38LENLENNAR CORPCL A0.57%$2M19.0K
39BLDRBUILDERS FIRSTSOURCE INCCOM0.57%$2M19.8K
40DHT HOLDINGS INCSHS NEW0.48%$1M75.4K
41HAFNIA LTDSHS0.44%$1M165.2K
42NAVIGATOR HLDGS LTDSHS0.34%$966,50050.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$288M72May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$206M62Feb 13, 202613F-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 ↗.