# TLS Advisors LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1768824. Source: https://holderbook.com/funds/1768824-tls-advisors-llc/

- Reported value: $34.0M
- Positions: 17
- Weight of the ten largest: 93.6%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| EQT CORP | [EQT](https://holderbook.com/stocks/EQT/) | $7.2M | 135,800 | 21.2% | 15 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $6.0M | 10,589 | 17.5% | 2 |
| RIO TINTO PLC | [RIO](https://holderbook.com/stocks/RIO/) | $4.7M | 49,998 | 14.0% | 13 |
| ISHARES INC | [PICK](https://holderbook.com/stocks/PICK/) | $4.0M | 68,615 | 11.7% | 6 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $2.5M | 50,000 | 7.2% | 2 |
| XENON PHARMACEUTICALS INC | [XENE](https://holderbook.com/stocks/XENE/) | $1.9M | 30,956 | 5.5% | 15 |
| XOMA ROYALTY CORPORATION | [XOMA](https://holderbook.com/stocks/XOMA/) | $1.8M | 42,165 | 5.3% | 15 |
| RANGE RES CORP | [RRC](https://holderbook.com/stocks/RRC/) | $1.8M | 47,923 | 5.2% | 15 |
| VALE S A | [VALE](https://holderbook.com/stocks/VALE/) | $1.0M | 67,528 | 3.0% | 13 |
| ALIGHT INC | [ALIT](https://holderbook.com/stocks/ALIT/) | $985.9K | 1,760,462 | 2.9% | 2 |
| HOVNANIAN ENTERPRISES INC | [HOV](https://holderbook.com/stocks/HOV/) | $551.4K | 3,872 | 1.6% | 2 |
| OMNIAB INC | [OABI](https://holderbook.com/stocks/OABI/) | $542.9K | 220,685 | 1.6% | 15 |
| ISHARES INC | [EWS](https://holderbook.com/stocks/EWS/) | $402.7K | 13,600 | 1.2% | 15 |
| ISHARES BITCOIN TRUST ETF | [IBIT](https://holderbook.com/stocks/IBIT/) | $377.1K | 11,327 | 1.1% | 3 |
| BHP BILLITON LIMITED | [BHP](https://holderbook.com/stocks/BHP/) | $252.4K | 3,030 | 0.7% | 3 |
| OVID THERAPEUTICS INC | [OVID](https://holderbook.com/stocks/OVID/) | $50.7K | 18,858 | 0.1% | 15 |
| BRILLIANT EARTH GROUP INC | [BRLT](https://holderbook.com/stocks/BRLT/) | $12.7K | 11,222 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | -0.9% | +14.8% | -15.7% | 100% |
| Q1 2026 | +10.2% | -4.6% | +14.8% | 124% |
| Q4 2025 | -1.9% | +2.4% | -4.3% | 106% |
| Q3 2025 | +10.2% | +7.8% | +2.4% | 100% |
| Q2 2025 | +6.5% | +10.5% | -3.9% | 100% |
| Q1 2025 | +0.2% | -4.6% | +4.7% | 100% |
| Q4 2024 | -7.6% | +2.1% | -9.8% | 100% |
| Q3 2024 | +7.8% | +5.4% | +2.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $34.0M | 17 |
| Q1 2026 | $42.1M | 16 |
| Q4 2025 | $38.1M | 16 |
| Q3 2025 | $34.4M | 19 |
| Q2 2025 | $32.0M | 13 |
| Q1 2025 | $44.3M | 15 |
| Q4 2024 | $43.7M | 17 |
| Q3 2024 | $47.3M | 18 |
| Q2 2024 | $40.0M | 19 |
| Q1 2024 | $43.0M | 14 |
| Q4 2023 | $30.1M | 14 |
| Q3 2023 | $24.7M | 15 |