Ballast Asset Management, LP
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Ballast Asset Management, LP reported 51 stock positions worth $184.3 million. Its top holding was Natural Resource Partners (NRP) at 4.1% of the portfolio, followed by Federal Agric MTG Class C (AGM, 3.7%) and Climb Global Solutions (CLMB, 3.3%). Compared with Q1 2024, it opened 1 new position, sold out of 1, added to 44 and reduced 5. The biggest buy was a new position in Brink's (BCO) and the biggest sale Lamar Advertising Class A (LAMR, shares −94%).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001998389
- Portfolio Value
- $184.3M (Q2 2024)
- SEC Filing
- 0001998389-24-000003 ↗ filed Aug 14, 2024
Holdings Value
Holdings 51 stocks · $184.3M
| NRP Natural Resource Partners LP | 4.11% | 84,600 | $7.6M | Add +7.4% |
| AGM Federal Agric MTG Corp. Class C | 3.66% | 37,262 | $6.7M | Add +6.8% |
| CLMB Climb Global Solutions Inc. | 3.32% | 97,480 | $6.1M | Add +7.2% |
| CONSOL ENERGY INC | 3.29% | 59,479 | $6.1M | Add +6.8% |
| MTG Mgic Investment Corp. | 3.28% | 280,503 | $6.0M | Add +6.4% |
| AZZ Azz Inc. | 3.13% | 74,752 | $5.8M | Reduce -2.8% |
| CVCO Cavco Industries Inc. | 3.09% | 16,457 | $5.7M | Add +6.5% |
| PHIN Phinia Inc. | 3.04% | 142,321 | $5.6M | Add +6.6% |
| EXP Eagle Materials Inc. | 2.62% | 22,244 | $4.8M | Reduce -22.7% |
| TDC Teradata Corp. | 2.61% | 139,261 | $4.8M | Add +6.9% |
| BELFB Bel Fuse Inc. Class B | 2.54% | 71,766 | $4.7M | Add +305.5% |
| GEO The Geo Group Inc. | 2.53% | 325,016 | $4.7M | Add +6.6% |
| LSTR Landstar System Inc. | 2.53% | 25,263 | $4.7M | Add +6.5% |
| CASS Cass Information Systems Inc. | 2.49% | 114,471 | $4.6M | Add +6.7% |
| IMXI International Money Express | 2.47% | 218,642 | $4.6M | Add +30.6% |
| SEI Solaris Energy Infrastructur | 2.36% | 506,685 | $4.3M | Add +6.5% |
| LII Lennox International Inc. | 2.27% | 7,830 | $4.2M | Add +2.4% |
| IGIC International General Insura filed as INTL GNRL INSURANCE HLDNGS L | 2.26% | 297,846 | $4.2M | Add +6.5% |
| CBNK Capital Bancorp Inc. | 2.23% | 200,269 | $4.1M | Add +6.9% |
| SFM Sprouts Farmers Market Inc. | 2.14% | 47,218 | $4.0M | Add +6.7% |
| BCO The Brink's Co. | 2.00% | 36,016 | $3.7M | New |
| BIOX Bioceres Crop Solutions Corp. | 1.94% | 318,250 | $3.6M | Add +6.8% |
| TRIP Tripadvisor Inc. | 1.81% | 186,835 | $3.3M | Add +8.6% |
| DOX Amdocs Ltd. | 1.79% | 41,788 | $3.3M | Add +6.5% |
| BLCO Bausch + Lomb Corp. | 1.77% | 224,467 | $3.3M | Add +6.5% |
| EPR Epr Properties filed as EPR PPTYS | 1.75% | 76,896 | $3.2M | Add +6.5% |
| RMNI Rimini Street Inc. | 1.75% | 1,051,005 | $3.2M | Add +6.5% |
| GSM Ferroglobe PLC | 1.74% | 597,324 | $3.2M | Add +6.4% |
| PATK Patrick Industries Inc. | 1.72% | 34,023 | $3.2M | Add +117.3% |
| BWA Borgwarner Inc. | 1.71% | 97,979 | $3.2M | Add +6.4% |
| ATKR Atkore Inc. | 1.69% | 23,047 | $3.1M | Add +6.6% |
| GPRE Green Plains Inc. | 1.68% | 195,316 | $3.1M | Add +6.2% |
| KOS Kosmos Energy Ltd. | 1.68% | 557,483 | $3.1M | Add +6.0% |
| CRMT America's Car-Mart Inc. | 1.67% | 51,236 | $3.1M | Add +6.3% |
| KN Knowles Corp. | 1.63% | 174,192 | $3.0M | Add +5.7% |
| NTIC Northern Technologies Intl | 1.59% | 176,952 | $2.9M | Reduce -37.0% |
| IPGP Ipg Photonics Corp. | 1.58% | 34,571 | $2.9M | Add +6.1% |
| UFPT Ufp Technologies Inc. | 1.50% | 10,472 | $2.8M | Reduce -0.5% |
| ECVT Ecovyst Inc. | 1.49% | 305,531 | $2.7M | Add +6.1% |
| STR Sitio Royalties Corp. Class A | 1.47% | 114,739 | $2.7M | Add +6.5% |
| GBTG Global Business Travel Group | 1.47% | 410,854 | $2.7M | Add +6.2% |
| TKR Timken Co. | 1.34% | 30,821 | $2.5M | Add +5.8% |
| RCMT RCM Technologies Inc. | 1.27% | 124,869 | $2.3M | Add +6.4% |
| EPSN Epsilon Energy Ltd. | 1.21% | 408,454 | $2.2M | Add +6.7% |
| EXTR Extreme Networks Inc. | 1.05% | 144,348 | $1.9M | Add +8.3% |
| IRMD Iradimed Corp. | 1.01% | 42,300 | $1.9M | Add +6.4% |
| G Genpact Ltd. | 0.93% | 53,375 | $1.7M | Add +6.1% |
| CMP Compass Minerals Internation | 0.73% | 130,213 | $1.3M | Add +6.3% |
| QDEL Quidelortho Corp. | 0.47% | 25,801 | $857K | Add +6.6% |
| AMR Alpha Metallurgical Resource | 0.44% | 2,889 | $809K | No change |
| LAMR Lamar Advertising Co. Class A | 0.14% | 2,184 | $261K | Reduce -94.0% |
Portfolio Sells Q1 2024 → Q2 2024
| LAMR Lamar Advertising Co. Class A | Reduce -94.0% | 0.14% | −2.21 |
| EXP Eagle Materials Inc. | Reduce -22.7% | 2.62% | −1.61 |
| NTIC Northern Technologies Intl | Reduce -37.0% | 1.59% | −0.46 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Sold out | 0.00% | −0.44 |
| AZZ Azz Inc. | Reduce -2.8% | 3.13% | −0.09 |
| UFPT Ufp Technologies Inc. | Reduce -0.5% | 1.50% | +0.06 |
Portfolio Buys Q1 2024 → Q2 2024
| BCO The Brink's Co. | New | 2.00% | +2.00 |
| BELFB Bel Fuse Inc. Class B | Add +305.5% | 2.54% | +1.96 |
| CONSOL ENERGY INC | Add +6.8% | 3.29% | +0.77 |
| PATK Patrick Industries Inc. | Add +117.3% | 1.72% | +0.71 |
| SFM Sprouts Farmers Market Inc. | Add +6.7% | 2.14% | +0.60 |
| IMXI International Money Express | Add +30.6% | 2.47% | +0.40 |
| PHIN Phinia Inc. | Add +6.6% | 3.04% | +0.26 |
| LII Lennox International Inc. | Add +2.4% | 2.27% | +0.25 |
| GSM Ferroglobe PLC | Add +6.4% | 1.74% | +0.22 |
| EXTR Extreme Networks Inc. | Add +8.3% | 1.05% | +0.22 |
| IGIC International General Insura | Add +6.5% | 2.26% | +0.21 |
| GBTG Global Business Travel Group | Add +6.2% | 1.47% | +0.21 |
| GEO The Geo Group Inc. | Add +6.6% | 2.53% | +0.20 |
| KN Knowles Corp. | Add +5.7% | 1.63% | +0.19 |
| NRP Natural Resource Partners LP | Add +7.4% | 4.11% | +0.19 |
| SEI Solaris Energy Infrastructur | Add +6.5% | 2.36% | +0.12 |
| CBNK Capital Bancorp Inc. | Add +6.9% | 2.23% | +0.11 |
| EPR Epr Properties | Add +6.5% | 1.75% | +0.09 |
| MTG Mgic Investment Corp. | Add +6.4% | 3.28% | +0.08 |
| EPSN Epsilon Energy Ltd. | Add +6.7% | 1.21% | +0.07 |
| IRMD Iradimed Corp. | Add +6.4% | 1.01% | +0.06 |
| LSTR Landstar System Inc. | Add +6.5% | 2.53% | +0.05 |
| G Genpact Ltd. | Add +6.1% | 0.93% | +0.03 |
| STR Sitio Royalties Corp. Class A | Add +6.5% | 1.47% | +0.03 |
| RMNI Rimini Street Inc. | Add +6.5% | 1.75% | +0.01 |
| CRMT America's Car-Mart Inc. | Add +6.3% | 1.67% | +0.01 |
| IPGP Ipg Photonics Corp. | Add +6.1% | 1.58% | −0.02 |
| BWA Borgwarner Inc. | Add +6.4% | 1.71% | −0.02 |
| KOS Kosmos Energy Ltd. | Add +6.0% | 1.68% | −0.02 |
| TKR Timken Co. | Add +5.8% | 1.34% | −0.04 |
| AGM Federal Agric MTG Corp. Class C | Add +6.8% | 3.66% | −0.07 |
| RCMT RCM Technologies Inc. | Add +6.4% | 1.27% | −0.09 |
| BIOX Bioceres Crop Solutions Corp. | Add +6.8% | 1.94% | −0.11 |
| TDC Teradata Corp. | Add +6.9% | 2.61% | −0.12 |
| DOX Amdocs Ltd. | Add +6.5% | 1.79% | −0.13 |
| QDEL Quidelortho Corp. | Add +6.6% | 0.47% | −0.16 |
| CLMB Climb Global Solutions Inc. | Add +7.2% | 3.32% | −0.17 |
| BLCO Bausch + Lomb Corp. | Add +6.5% | 1.77% | −0.21 |
| CVCO Cavco Industries Inc. | Add +6.5% | 3.09% | −0.25 |
| ECVT Ecovyst Inc. | Add +6.1% | 1.49% | −0.25 |
| CASS Cass Information Systems Inc. | Add +6.7% | 2.49% | −0.31 |
| CMP Compass Minerals Internation | Add +6.3% | 0.73% | −0.32 |
| ATKR Atkore Inc. | Add +6.6% | 1.69% | −0.54 |
| GPRE Green Plains Inc. | Add +6.2% | 1.68% | −0.62 |
| TRIP Tripadvisor Inc. | Add +8.6% | 1.81% | −0.79 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 53 | $250.7M | AZZ, BELFB, AGM, CVCO, CLMB |
| Q1 2026 | 52 | $224.7M | NRP, ECVT, AZZ, RGLD, SEI |
| Q4 2025 | 52 | $211.7M | CLMB, NRP, BELFB, TPB, CVCO |
| Q3 2025 | 54 | $219.1M | CLMB, NRP, SEI, BELFB, CVCO |
| Q2 2025 | 54 | $192.4M | CLMB, SEI, NRP, TPB, AGM |
| Q1 2025 | 54 | $189.7M | CLMB, NRP, CVCO, IGIC, AGM |
| Q4 2024 | 53 | $201.7M | CLMB, NRP, SEI, CVCO, AGM |
| Q3 2024 | 49 | $195.6M | CLMB, NRP, MTG, CVCO, AGM |
| Q2 2024 | 51 | $184.3M | NRP, AGM, CLMB, CONSOL ENERGY INC, MTG |
| Q1 2024 | 51 | $184.6M | EXP, NRP, AGM, CLMB, CVCO |