SEC 13F Intelligence

Managers / Q3 2025 · view latest →

Birnam Oak Advisors, LP

CIK 0001997245 · 520 MADISON AVENUE, SUITE 2104, NEW YORK, NY, 10022 · 212-970-5800

Reported Value
$435M
Q3 2025
Positions
49
Filings on Record
6
2019–present window
Filed
Nov 14, 2025
original filing

Summary

Birnam Oak Advisors, LP reported $435M in U.S.-listed holdings across 49 positions for Q3 2025.

Its largest position, ACWI, represents 8.8% of the portfolio.

Compared with Q2 2025, the fund opened 14 new positions and exited 6.

Portfolio Metrics

Turnover
+41.9%
vs prior filed quarter
Top-10 Concentration
+49.3%
share of reported value
Largest Position
+8.8%
Ishares Tr
New / Exited
14 / 6
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 ’24: $206MQ4 ’24Q1 ’25: $552MQ1 ’25Q2 ’25: $338MQ2 ’25Q3 ’25: $435MQ3 ’25Q4 ’25: $447MQ4 ’25Q1 ’26: $441MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 60.1%ETP: 21.2%Other: 11.9%ADR: 6.8%
  • Common Stock · 60.1% · $262M
  • ETP · 21.2% · $92M
  • Other · 11.9% · $52M
  • ADR · 6.8% · $30M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CYBERARK SOFTWARE LTDNEW+94.2K94.2K+$46M$46M
VRNAVERONA PHARMA PLCNEW+277.6K277.6K+$30M$30M
NSCNORFOLK SOUTHN CORPNEW+96.1K96.1K+$29M$29M
GTLSCHART INDS INCNEW+118.2K118.2K+$24M$24M
ARK ETF TRNEW+180.0K180.0K+$16M$16M
S9QSPIRIT AEROSYSTEMS HLDGS INCNEW+390.8K390.8K+$15M$15M
ECHOECHOSTAR CORPNEW+192.9K192.9K+$15M$15M
CORZCORE SCIENTIFIC INC NEWNEW+646.3K646.3K+$12M$12M

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

Holdings — Q3 2025

26 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CYBERARK SOFTWARE LTDSHS10.45%$46M94.2K
2ACWIISHARES TRMSCI ACWI ETF · CORE MSCI EURO · S&P 500 VAL ETF10.12%$44M341.8K
3IPGINTERPUBLIC GROUP COS INChistory →COM8.73%$38M1.36M
4FYBRFRONTIER COMMUNICATIONS PAREhistory →COM8.68%$38M1.01M
5VRNAVERONA PHARMA PLChistory →SPONSORED ADS6.80%$30M277.6K
6NSCNORFOLK SOUTHN CORPhistory →COM6.63%$29M96.1K
7GTLSCHART INDS INChistory →COM5.43%$24M118.2K
8TXNMTXNM ENERGY INChistory →COM5.06%$22M389.9K
9VUGVANGUARD INDEX FDSGROWTH ETF · VALUE ETF4.61%$20M65.1K
10KELKELLANOVAhistory →COM4.47%$19M237.5K
11S9QSPIRIT AEROSYSTEMS HLDGS INChistory →COM CL A3.46%$15M390.8K
12ECHOECHOSTAR CORPhistory →CL A3.38%$15M192.9K
13CORZCORE SCIENTIFIC INC NEWhistory →COM2.66%$12M646.3K
14GJBSTEELCASE INChistory →CL A2.47%$11M624.5K
15MR COOPER GROUP INCCOM2.09%$9M43.1K
16BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.85%$8M16.0K
17MSOSADVISORSHARES TRhistory →PURE US CANNABIS1.15%$5M1.05M
18COFCAPITAL ONE FINL CORPCOM0.97%$4M19.8K
19J P MORGAN EXCHANGE TRADED FBETABULDRS JAPAN0.84%$4M55.0K
20VANGUARD INTL EQUITY INDEX FFTSE EUROPE ETF0.82%$4M45.0K
21ANYWHERE REAL ESTATE INCCOM0.72%$3M296.9K
22MSFTMICROSOFT CORPCOM0.71%$3M6.0K
23AERCAP HOLDINGS NVSHS0.69%$3M25.0K
24AMZNAMAZON COM INCCOM0.63%$3M12.5K
25LIONLIONSGATE STUDIOS CORPCOM0.16%$690,000100.0K
26ISHARES INCMSCI JPN ETF NEW0.07%$320,8404.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$441M51May 12, 202613F-HRchanges · EDGAR ↗
Q4 2025$447M51Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$435M49Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$338M36Aug 11, 202513F-HRchanges · EDGAR ↗
Q1 2025$552M41May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$206M37Feb 10, 202513F-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 ↗.