SEC 13F Intelligence

Managers / Q1 2026

Ballast Asset Management, LP

CIK 0001998389 · 3879 MAPLE AVE, SUITE 300, DALLAS, TX, 75219 · 469-420-5220

Reported Value
$225M
Q1 2026
Positions
52
Filings on Record
11
2019–present window
Filed
May 7, 2026
original filing

Summary

Ballast Asset Management, LP reported $225M in U.S.-listed holdings across 52 positions for Q1 2026.

Its largest position, NRP, represents 4.1% of the portfolio.

Compared with Q4 2025, the fund opened 1 new position and exited 1.

Portfolio Metrics

Turnover
+7.5%
vs prior filed quarter
Top-10 Concentration
+29.4%
share of reported value
Largest Position
+4.1%
Natural Resource Partners L P
New / Exited
1 / 1
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
Q3 ’23: $108MQ3 ’23Q4 ’23: $157MQ1 ’24: $185MQ1 ’24Q2 ’24: $184MQ3 ’24: $196MQ3 ’24Q4 ’24: $202MQ1 ’25: $190MQ1 ’25Q2 ’25: $192MQ3 ’25: $219MQ3 ’25Q4 ’25: $212MQ1 ’26: $225MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 89.4%MLP: 4.1%Other: 3.0%ADR: 1.9%REIT: 1.7%
  • Common Stock · 89.4% · $201M
  • MLP · 4.1% · $9M
  • Other · 3.0% · $7M
  • ADR · 1.9% · $4M
  • REIT · 1.7% · $4M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SPSCSPS COMM INC USD 0.001NEW+37.4K37.4K+$2M$2M
CLMBCLIMB GLOBAL SOLUTIONS INC USD 0.01ADDED+242.3K319.2K−$2M$6M
RHLDRESOLUTE HLDGS MGMT INCSOLD OUT−15.9K0−$3M$0
QDELQUIDELORTHO CORP USD 0.001ADDED+47.2K146.0K−$422,891$2M
BELFBBEL FUSE INC USD 0.1TRIMMED−18.3K23.7K−$2M$5M
CBTCABOT CORP USD 1.0ADDED+12.3K40.7K+$1M$3M
CCSICONSENSUS CLOUD SOLUTIONS USD 0.01ADDED+49.7K166.1K+$1M$4M
BRKRBRUKER CORP USD 0.01ADDED+23.5K90.6K+$110,939$3M

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

Holdings — Q1 2026

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NRPNatural Resource Partners, L.P.history →COMMON4.09%$9M75.9K
2ECVTECOVYST INC USD 0.01history →COMMON3.17%$7M554.6K
3AZZAZZ INC USD 1.0history →COMMON3.12%$7M56.1K
4RGLDROYAL GOLD INC USD 0.01history →COMMON2.98%$7M26.4K
5SEISOLARIS ENERGY INFRASTRUCTURE INChistory →COMMON2.91%$7M115.9K
6CLMBCLIMB GLOBAL SOLUTIONS INC USD 0.01history →COMMON2.82%$6M319.2K
7CVCOCAVCO INDS INC DEL USD 0.01history →COMMON2.61%$6M12.1K
8MBINMERCHANTS BANCORP IND NPVhistory →COMMON2.61%$6M136.6K
9TPBTURNING PT BRANDS INC USD 0.01history →COMMON2.58%$6M66.9K
10CBNKCAPITAL BANCORP INC MD USD 0.01history →COMMON2.51%$6M189.8K
11KOSKOSMOS ENERGY LTD USD 0.01history →COMMON2.51%$6M2.03M
12AGMFEDERAL AGRIC MTG CORP USD 1.0history →COMMON2.48%$6M37.6K
13PATKPATRICK INDS INC NPVhistory →COMMON2.46%$6M49.8K
14LSTRLANDSTAR SYS INC USD 0.01history →COMMON2.44%$5M34.2K
15GEGGEO GROUP INC NEW USD 0.01history →COMMON2.40%$5M320.7K
16CNRCORE NAT RES INC USD 0.01history →COMMON2.37%$5M50.9K
17BCOBRINKS CO USD 1.0history →COMMON2.36%$5M51.2K
18TEXTEREX CORP NEW USD 0.01history →COMMON2.24%$5M85.1K
19EPSNEPSILON ENERGY LTD NPVhistory →COMMON2.23%$5M814.3K
20GPGIGPGI INC USD 0.0001history →COMMON2.21%$5M290.4K
21BELFBBEL FUSE INC USD 0.1history →COMMON2.09%$5M23.7K
22MTUSMETALLUS INC NPVhistory →COMMON2.08%$5M286.5K
23KNKNOWLES CORP USD 0.01history →COMMON1.95%$4M171.0K
24CRITEO S A EUR 0.025 ADRCOMMON1.86%$4M233.5K
25EXPEAGLE MATLS INC USD 0.01history →COMMON1.85%$4M22.0K
26MLIMUELLER INDS INC USD 0.01history →COMMON1.84%$4M37.3K
27CCSICONSENSUS CLOUD SOLUTIONS USD 0.01history →COMMON1.75%$4M166.1K
28MTGMGIC INVT CORP WIS USD 1.0history →COMMON1.75%$4M149.5K
29EPREPR PROPER SBI USD0.01history →COMMON1.68%$4M75.6K
30ATNIATN INTL INC USD 0.01history →COMMON1.67%$4M137.6K
31COLLCOLLEGIUM PHARMACEUTICAL USD 0.001history →COMMON1.67%$4M113.2K
32HLMNHILLMAN SOLUTIONS CORP USD 0.0001history →COMMON1.65%$4M445.8K
33FERROGLOBE PLC USD 7.5COMMON1.60%$4M870.2K
34IRMDIRADIMED CORP USD 0.0001history →COMMON1.59%$4M37.1K
35BLCOBAUSCH PLUS LOMB CORPhistory →COMMON1.55%$3M219.6K
36OZKBANK OZK LITTLE ROCK ARK NPVhistory →COMMON1.48%$3M72.3K
37BRKRBRUKER CORP USD 0.01history →COMMON1.46%$3M90.6K
38GENPACT LTD USD 0.01COMMON1.38%$3M83.1K
39RCMTRCM TECHNOLOGIES INC USD 0.05history →COMMON1.37%$3M161.0K
40CBTCABOT CORP USD 1.0history →COMMON1.37%$3M40.7K
41IPGPIPG PHOTONICS CORP USD 0.0001history →COMMON1.33%$3M26.1K
42DCIDONALDSON COM USD5history →COMMON1.33%$3M35.1K
43PHINPHINIA INC USD 0.01history →COMMON1.28%$3M42.1K
44IMKTAINGLES MKTS INC USD 0.05history →COMMON1.28%$3M32.0K
45ASIXADVANSIX INC USD 0.01history →COMMON1.27%$3M117.1K
46GBTGGLOBAL BUSINESS TRAVEL USD 0.00005history →COMMON1.24%$3M501.3K
47QDELQUIDELORTHO CORP USD 0.001history →COMMON1.07%$2M146.0K
48CASSCASS INFORMATION SYS INC USD 0.5history →COMMON1.00%$2M51.3K
49EXTREXTREME NETWORKS INC USD 0.001COMMON0.94%$2M139.7K
50SPSCSPS COMM INC USD 0.001COMMON0.93%$2M37.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$225M52May 7, 202613F-HRchanges · EDGAR ↗
Q4 2025$212M52Feb 9, 202613F-HRchanges · EDGAR ↗
Q3 2025$219M54Nov 4, 202513F-HRchanges · EDGAR ↗
Q2 2025$192M54Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$190M54May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$202M53Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$196M49Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$184M51Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$185M51May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$157M48Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$108M52Nov 13, 202313F-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 ↗.