# Marnell Management LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1852314. Source: https://holderbook.com/funds/1852314-marnell-management-llc/

- Reported value: $260.4M
- Positions: 67
- Weight of the ten largest: 50.3%
- Filed: 2026-08-13

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 |
|---|---|---|---|---|---|
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $58.9M | 0 | 22.6% | 2 |
| STAR BULK CARRIERS CORP. | [SBLK](https://holderbook.com/stocks/SBLK/) | $12.9M | 515,698 | 4.9% | 3 |
| CORE NATURAL RESOURCES INC | [CNR](https://holderbook.com/stocks/CNR/) | $10.3M | 128,778 | 4.0% | 3 |
| DHT HOLDINGS INC | [DHT](https://holderbook.com/stocks/DHT/) | $9.0M | 541,871 | 3.4% | 3 |
| TERAWULF INC | [WULF](https://holderbook.com/stocks/WULF/) | $8.0M | 324,991 | 3.1% | 3 |
| TORM PLC | [TRMD](https://holderbook.com/stocks/TRMD/) | $6.9M | 262,876 | 2.6% | 3 |
| TIDEWATER INC NEW | [TDW](https://holderbook.com/stocks/TDW/) | $6.6M | 98,490 | 2.5% | 3 |
| WARRIOR MET COAL INC | [HCC](https://holderbook.com/stocks/HCC/) | $6.5M | 79,511 | 2.5% | 3 |
| VORNADO RLTY TR | [VNO](https://holderbook.com/stocks/VNO/) | $6.1M | 156,292 | 2.4% | 3 |
| GARRETT MOTION INC | [GTX](https://holderbook.com/stocks/GTX/) | $5.9M | 163,713 | 2.3% | 3 |
| FIRST CTZNS BANCSHARES INC D | [FCNCA](https://holderbook.com/stocks/FCNCA/) | $5.9M | 2,829 | 2.3% | 3 |
| DOUGLAS EMMETT INC | [DEI](https://holderbook.com/stocks/DEI/) | $5.9M | 497,133 | 2.3% | 2 |
| JBG SMITH PPTYS | [JBGS](https://holderbook.com/stocks/JBGS/) | $5.6M | 381,619 | 2.2% | 3 |
| TALEN ENERGY CORP | [TLN](https://holderbook.com/stocks/TLN/) | $5.6M | 14,551 | 2.1% | 3 |
| COMPASS INC | [COMP](https://holderbook.com/stocks/COMP/) | $5.2M | 423,302 | 2.0% | 2 |
| ECHOSTAR CORP | [ECHO](https://holderbook.com/stocks/ECHO/) | $5.1M | 35,359 | 2.0% | 3 |
| OKEANIS ECO TANKERS COR | [ECO](https://holderbook.com/stocks/ECO/) | $4.8M | 96,294 | 1.9% | 3 |
| NAVIOS MARITIME PARTNERS L P | [NMM](https://holderbook.com/stocks/NMM/) | $4.7M | 67,593 | 1.8% | 3 |
| ALEXANDERS INC | [ALX](https://holderbook.com/stocks/ALX/) | $4.7M | 16,991 | 1.8% | 3 |
| CMB.TECH NV | [CMBT](https://holderbook.com/stocks/CMBT/) | $4.4M | 311,109 | 1.7% | 3 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $4.3M | 12,593 | 1.7% | 3 |
| BORR DRILLING LTD | [BORR](https://holderbook.com/stocks/BORR/) | $3.8M | 922,914 | 1.5% | 1 |
| NEXPOINT RESIDENTIAL TR INC | [NXRT](https://holderbook.com/stocks/NXRT/) | $3.7M | 131,406 | 1.4% | 3 |
| TRANSOCEAN LTD | [RIG](https://holderbook.com/stocks/RIG/) | $3.6M | 740,270 | 1.4% | 3 |
| EAGLE MATLS INC | [EXP](https://holderbook.com/stocks/EXP/) | $3.4M | 15,039 | 1.3% | 3 |
| ARDMORE SHIPPING CORP | [ASC](https://holderbook.com/stocks/ASC/) | $3.3M | 236,122 | 1.3% | 3 |
| CENTURY ALUM CO | [CENX](https://holderbook.com/stocks/CENX/) | $3.3M | 71,516 | 1.3% | 3 |
| HIMALAYA SHIPPING LTD | [HSHP](https://holderbook.com/stocks/HSHP/) | $2.9M | 217,162 | 1.1% | 2 |
| TEEKAY TANKERS LTD | [TNK](https://holderbook.com/stocks/TNK/) | $2.9M | 44,391 | 1.1% | 3 |
| FRONTLINE PLC | [FRO](https://holderbook.com/stocks/FRO/) | $2.8M | 81,081 | 1.1% | 3 |
| LENNAR CORP | [LEN](https://holderbook.com/stocks/LEN/) | $2.5M | 27,100 | 0.9% | 2 |
| INTERNATIONAL SEAWAYS INC | [INSW](https://holderbook.com/stocks/INSW/) | $2.4M | 31,939 | 0.9% | 3 |
| FORTUNE BRANDS INNOVATIONS I | [FBIN](https://holderbook.com/stocks/FBIN/) | $2.4M | 44,500 | 0.9% | 2 |
| NAVIGATOR HLDGS LTD | [NVGS](https://holderbook.com/stocks/NVGS/) | $1.9M | 99,545 | 0.7% | 2 |
| BORGWARNER INC | [BWA](https://holderbook.com/stocks/BWA/) | $1.8M | 0 | 0.7% | 2 |
| SCORPIO TANKERS INC | [STNG](https://holderbook.com/stocks/STNG/) | $1.7M | 24,726 | 0.7% | 3 |
| HAFNIA LTD | [HAFN](https://holderbook.com/stocks/HAFN/) | $1.7M | 38,760 | 0.6% | 3 |
| RAMACO RES INC | [METC](https://holderbook.com/stocks/METC/) | $1.6M | 122,165 | 0.6% | 2 |
| HUDSON PACIFIC PROPERTIES IN | [HPP](https://holderbook.com/stocks/HPP/) | $1.6M | 102,186 | 0.6% | 2 |
| MARTIN MARIETTA MATLS INC | [MLM](https://holderbook.com/stocks/MLM/) | $1.5M | 2,651 | 0.6% | 3 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $1.5M | 4,121 | 0.6% | 3 |
| HUT 8 CORP | [HUT](https://holderbook.com/stocks/HUT/) | $1.5M | 13,084 | 0.6% | 3 |
| CORE SCIENTIFIC INC NEW | [CORZ](https://holderbook.com/stocks/CORZ/) | $1.5M | 58,944 | 0.6% | 3 |
| GALAXY DIGITAL INC. | [GLXY](https://holderbook.com/stocks/GLXY/) | $1.5M | 54,342 | 0.6% | 1 |
| VALARIS LTD | [VAL](https://holderbook.com/stocks/VAL/) | $1.4M | 19,075 | 0.5% | 3 |
| VISTRA CORP | [VST](https://holderbook.com/stocks/VST/) | $1.4M | 8,542 | 0.5% | 1 |
| ALPHA METALLURGICAL RESOUR I | [AMR](https://holderbook.com/stocks/AMR/) | $1.3M | 7,817 | 0.5% | 3 |
| PEABODY ENGR CORP | [BTU](https://holderbook.com/stocks/BTU/) | $1.2M | 53,212 | 0.5% | 3 |
| KKR & CO INC | [KKR](https://holderbook.com/stocks/KKR/) | $1.2M | 13,019 | 0.5% | 3 |
| CIPHER DIGITAL INC | [CIFR](https://holderbook.com/stocks/CIFR/) | $1.2M | 47,715 | 0.4% | 2 |
| NVR INC | [NVR](https://holderbook.com/stocks/NVR/) | $1.1M | 162 | 0.4% | 1 |
| SEANERGY MARITIME HLDGS CORP | [SHIP](https://holderbook.com/stocks/SHIP/) | $1.1M | 78,605 | 0.4% | 2 |
| GENCO SHIPPING & TRADING LTD | [GNK](https://holderbook.com/stocks/GNK/) | $946.9K | 38,213 | 0.4% | 3 |
| BUILDERS FIRSTSOURCE INC | [BLDR](https://holderbook.com/stocks/BLDR/) | $928.1K | 10,372 | 0.4% | 2 |
| QXO INC | [QXO](https://holderbook.com/stocks/QXO/) | $917.4K | 53,092 | 0.4% | 2 |
| OFFICE PPTYS INCOME TR | - | $865.2K | 50,892 | 0.3% | 1 |
| ARCELORMITTAL SA LUXEMBOURG | [MT](https://holderbook.com/stocks/MT/) | $734.0K | 12,188 | 0.3% | 3 |
| FERMI INC | [FRMI](https://holderbook.com/stocks/FRMI/) | $659.2K | 71,965 | 0.3% | 1 |
| OWENS CORNING NEW | [OC](https://holderbook.com/stocks/OC/) | $570.7K | 3,590 | 0.2% | 2 |
| WESTLAKE CORPORATION | [WLK](https://holderbook.com/stocks/WLK/) | $540.3K | 7,402 | 0.2% | 3 |
| NEBIUS GROUP N.V. | [NBIS](https://holderbook.com/stocks/NBIS/) | $406.2K | 1,471 | 0.2% | 3 |
| WYNDHAM HOTELS & RESORTS INC | [WH](https://holderbook.com/stocks/WH/) | $391.3K | 4,647 | 0.2% | 3 |
| CLEVELAND-CLIFFS INC NEW | [CLF](https://holderbook.com/stocks/CLF/) | $372.0K | 39,613 | 0.1% | 3 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $355.3K | 710 | 0.1% | 3 |
| LENNAR CORP | [LENB](https://holderbook.com/stocks/LENB/) | $329.7K | 3,717 | 0.1% | 3 |
| TSAKOS ENERGY NAVIGATION LTD | [TEN](https://holderbook.com/stocks/TEN/) | $253.2K | 7,158 | 0.1% | 3 |
| CLEANSPARK INC | [CLSK](https://holderbook.com/stocks/CLSK/) | $237.8K | 16,346 | 0.1% | 2 |

## 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 | +16.5% | +14.8% | +1.6% | 92% |
| Q1 2026 | +19.1% | -4.6% | +23.7% | 96% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $260.4M | 67 |
| Q1 2026 | $287.5M | 68 |
| Q4 2025 | $206.1M | 59 |