# Ballast Asset Management, LP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1998389. Source: https://holderbook.com/funds/1998389-ballast-asset-management-lp/

- Reported value: $250.7M
- Positions: 53
- Weight of the ten largest: 29.1%
- 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 |
|---|---|---|---|---|---|
| AZZ INC | [AZZ](https://holderbook.com/stocks/AZZ/) | $8.6M | 55,508 | 3.4% | 12 |
| BEL FUSE INC | [BELFB](https://holderbook.com/stocks/BELFB/) | $7.8M | 23,493 | 3.1% | 10 |
| FEDERAL AGRIC MTG CORP | [AGM](https://holderbook.com/stocks/AGM/) | $7.4M | 37,226 | 3.0% | 12 |
| CAVCO INDS INC DEL | [CVCO](https://holderbook.com/stocks/CVCO/) | $7.4M | 11,995 | 2.9% | 12 |
| CLIMB GLOBAL SOLUTIONS INC | [CLMB](https://holderbook.com/stocks/CLMB/) | $7.3M | 315,770 | 2.9% | 12 |
| NATURAL RESOURCE PARTNERS LP | [NRP](https://holderbook.com/stocks/NRP/) | $7.3M | 74,806 | 2.9% | 12 |
| LANDSTAR SYS INC | [LSTR](https://holderbook.com/stocks/LSTR/) | $7.0M | 33,919 | 2.8% | 12 |
| ECOVYST INC | [ECVT](https://holderbook.com/stocks/ECVT/) | $6.8M | 549,113 | 2.7% | 12 |
| MERCHANTS BANCORP IND | [MBIN](https://holderbook.com/stocks/MBIN/) | $6.8M | 135,270 | 2.7% | 5 |
| CAPITAL BANCORP INC MD | [CBNK](https://holderbook.com/stocks/CBNK/) | $6.6M | 187,859 | 2.6% | 12 |
| CONSENSUS CLOUD SOLUTIONS IN | [CCSI](https://holderbook.com/stocks/CCSI/) | $6.3M | 164,457 | 2.5% | 7 |
| SOLARIS ENERGY INFRAS INC | [SEI](https://holderbook.com/stocks/SEI/) | $6.2M | 77,119 | 2.5% | 12 |
| TEREX CORP NEW | [TEX](https://holderbook.com/stocks/TEX/) | $6.1M | 84,308 | 2.4% | 7 |
| GEO GROUP INC | [GEO](https://holderbook.com/stocks/GEO/) | $5.9M | 200,700 | 2.4% | 10 |
| GPGI INC | [GPGI](https://holderbook.com/stocks/GPGI/) | $5.9M | 373,895 | 2.4% | 8 |
| MUELLER INDS INC | [MLI](https://holderbook.com/stocks/MLI/) | $5.9M | 48,033 | 2.4% | 4 |
| TURNING PT BRANDS INC | [TPB](https://holderbook.com/stocks/TPB/) | $5.6M | 66,229 | 2.2% | 8 |
| BRUKER CORP | [BRKR](https://holderbook.com/stocks/BRKR/) | $5.4M | 89,714 | 2.2% | 5 |
| METALLUS INC | [MTUS](https://holderbook.com/stocks/MTUS/) | $5.3M | 283,657 | 2.1% | 7 |
| HILLMAN SOLUTIONS CORP | [HLMN](https://holderbook.com/stocks/HLMN/) | $5.0M | 593,050 | 2.0% | 7 |
| EAGLE MATLS INC | [EXP](https://holderbook.com/stocks/EXP/) | $4.9M | 21,776 | 2.0% | 12 |
| BRINKS CO | [BCO](https://holderbook.com/stocks/BCO/) | $4.8M | 50,741 | 1.9% | 9 |
| CABOT CORP | [CBT](https://holderbook.com/stocks/CBT/) | $4.8M | 52,510 | 1.9% | 5 |
| CRITEO S A | [CRTO](https://holderbook.com/stocks/CRTO/) | $4.7M | 256,488 | 1.9% | 4 |
| RCM TECHNOLOGIES INC | [RCMT](https://holderbook.com/stocks/RCMT/) | $4.5M | 159,631 | 1.8% | 12 |
| EXTREME NETWORKS INC | [EXTR](https://holderbook.com/stocks/EXTR/) | $4.5M | 138,328 | 1.8% | 12 |
| PATRICK INDS INC | [PATK](https://holderbook.com/stocks/PATK/) | $4.4M | 49,273 | 1.8% | 10 |
| EPSILON ENERGY LTD | [EPSN](https://holderbook.com/stocks/EPSN/) | $4.4M | 806,322 | 1.7% | 12 |
| EPR PPTYS | [EPR](https://holderbook.com/stocks/EPR/) | $4.3M | 74,891 | 1.7% | 12 |
| KOSMOS ENERGY LTD | [KOS](https://holderbook.com/stocks/KOS/) | $4.2M | 2,008,153 | 1.7% | 12 |
| MGIC INVT CORP WIS | [MTG](https://holderbook.com/stocks/MTG/) | $4.2M | 147,998 | 1.7% | 12 |
| COLLEGIUM PHARMACEUTICAL INC | [COLL](https://holderbook.com/stocks/COLL/) | $4.1M | 112,111 | 1.6% | 5 |
| CORE NATURAL RESOURCES INC | [CNR](https://holderbook.com/stocks/CNR/) | $4.0M | 50,430 | 1.6% | 6 |
| CASS INFORMATION SYS INC | [CASS](https://holderbook.com/stocks/CASS/) | $4.0M | 77,287 | 1.6% | 12 |
| PAYSIGN INC | [PAYS](https://holderbook.com/stocks/PAYS/) | $3.8M | 467,476 | 1.5% | 1 |
| ROYAL GOLD INC | [RGLD](https://holderbook.com/stocks/RGLD/) | $3.8M | 19,045 | 1.5% | 6 |
| BARNES & NOBLE ED INC | [BNED](https://holderbook.com/stocks/BNED/) | $3.8M | 299,611 | 1.5% | 1 |
| BANK OZK LITTLE ROCK ARK | [OZK](https://holderbook.com/stocks/OZK/) | $3.7M | 71,665 | 1.5% | 5 |
| ATN INTL INC | [ATNI](https://holderbook.com/stocks/ATNI/) | $3.6M | 136,243 | 1.4% | 4 |
| BAUSCH PLUS LOMB CORP | [BLCO](https://holderbook.com/stocks/BLCO/) | $3.6M | 217,470 | 1.4% | 12 |
| PHINIA INC | [PHIN](https://holderbook.com/stocks/PHIN/) | $3.4M | 41,737 | 1.4% | 12 |
| GENPACT LIMITED | [G](https://holderbook.com/stocks/G/) | $3.3M | 119,326 | 1.3% | 12 |
| KNOWLES CORP | [KN](https://holderbook.com/stocks/KN/) | $3.3M | 78,637 | 1.3% | 12 |
| THIRD COAST BANCSHARES INC | [TCBX](https://holderbook.com/stocks/TCBX/) | $3.2M | 80,250 | 1.3% | 1 |
| SPS COMM INC | [SPSC](https://holderbook.com/stocks/SPSC/) | $3.2M | 56,249 | 1.3% | 2 |
| DONALDSON INC | [DCI](https://holderbook.com/stocks/DCI/) | $3.1M | 34,761 | 1.2% | 5 |
| IPG PHOTONICS CORP | [IPGP](https://holderbook.com/stocks/IPGP/) | $3.0M | 25,875 | 1.2% | 12 |
| INGLES MKTS INC | [IMKTA](https://holderbook.com/stocks/IMKTA/) | $2.8M | 31,648 | 1.1% | 7 |
| QUIDELORTHO CORP | [QDEL](https://holderbook.com/stocks/QDEL/) | $2.5M | 144,526 | 1.0% | 12 |
| TRIPADVISOR INC | [TRIP](https://holderbook.com/stocks/TRIP/) | $2.5M | 181,645 | 1.0% | 12 |
| ADVANSIX INC | [ASIX](https://holderbook.com/stocks/ASIX/) | $2.3M | 116,048 | 0.9% | 3 |
| FERROGLOBE PLC | [GSM](https://holderbook.com/stocks/GSM/) | $2.0M | 626,195 | 0.8% | 11 |
| ALPHA METALLURGICAL RESOUR I | [AMR](https://holderbook.com/stocks/AMR/) | $1.3M | 7,738 | 0.5% | 11 |

## 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 | +13.0% | +14.8% | -1.8% | 100% |
| Q1 2026 | +1.9% | -4.6% | +6.5% | 100% |
| Q4 2025 | +1.4% | +2.4% | -1.0% | 100% |
| Q3 2025 | +12.4% | +7.8% | +4.5% | 100% |
| Q2 2025 | +4.0% | +10.5% | -6.5% | 100% |
| Q1 2025 | -8.4% | -4.6% | -3.8% | 97% |
| Q4 2024 | +9.1% | +2.1% | +7.0% | 100% |
| Q3 2024 | +7.7% | +5.4% | +2.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $250.7M | 53 |
| Q1 2026 | $224.7M | 52 |
| Q4 2025 | $211.7M | 52 |
| Q3 2025 | $219.1M | 54 |
| Q2 2025 | $192.4M | 54 |
| Q1 2025 | $189.7M | 54 |
| Q4 2024 | $201.7M | 53 |
| Q3 2024 | $195.6M | 49 |
| Q2 2024 | $184.3M | 51 |
| Q1 2024 | $184.6M | 51 |
| Q4 2023 | $157.3M | 48 |
| Q3 2023 | $107.9M | 52 |