Ballast Asset Management, LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 9, 2026), Ballast Asset Management, LP reported 52 stock positions worth $211.7 million. Its top holding was Climb Global Solutions (CLMB) at 3.7% of the portfolio, followed by Natural Resource Partners (NRP, 3.6%) and Bel Fuse Class B (BELFB, 3.4%). Compared with Q3 2025, it opened 1 new position, sold out of 3, added to 4 and reduced 46. The biggest buy was a new position in Advansix (ASIX) and the biggest sale Climb Global Solutions (CLMB, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001998389
- Portfolio Value
- $211.7M (Q4 2025)
- SEC Filing
- 0001998389-26-000001 ↗ filed Feb 9, 2026
Holdings Value
Holdings 52 stocks · $211.7M
| CLMB Climb Global Solutions Inc. | 3.73% | 76,857 | $7.9M | Reduce -3.7% |
| NRP Natural Resource Partners LP | 3.56% | 72,207 | $7.5M | Reduce -4.8% |
| BELFB Bel Fuse Inc. Class B | 3.37% | 42,008 | $7.1M | Reduce -17.8% |
| TPB Turning Point Brands Inc. | 3.34% | 65,242 | $7.1M | Reduce -3.4% |
| CVCO Cavco Industries Inc. | 3.30% | 11,812 | $7.0M | Reduce -3.5% |
| AGM Federal Agric MTG Corp. Class C | 2.90% | 34,977 | $6.1M | Reduce -3.5% |
| AZZ Azz Inc. | 2.77% | 54,692 | $5.9M | Reduce -3.4% |
| BCO The Brink's Co. | 2.73% | 49,506 | $5.8M | Reduce -3.4% |
| RGLD Royal Gold Inc. | 2.70% | 25,707 | $5.7M | Reduce -3.4% |
| GPGI Gpgi Inc. filed as COMPOSECURE INC | 2.58% | 283,203 | $5.5M | Reduce -3.5% |
| PATK Patrick Industries Inc. | 2.49% | 48,544 | $5.3M | Reduce -3.4% |
| ECVT Ecovyst Inc. | 2.49% | 540,845 | $5.3M | Reduce -3.4% |
| CBNK Capital Bancorp Inc. | 2.46% | 184,880 | $5.2M | Reduce -3.6% |
| SEI Solaris Energy Infrastructur | 2.45% | 113,026 | $5.2M | Reduce -37.8% |
| COLL Collegium Pharmaceutical Inc. | 2.42% | 110,443 | $5.1M | Reduce -3.4% |
| LSTR Landstar System Inc. | 2.27% | 33,424 | $4.8M | Reduce -3.3% |
| MTUS Metallus Inc. | 2.26% | 279,412 | $4.8M | Reduce -3.4% |
| MBIN Merchants Bancorp | 2.14% | 133,296 | $4.5M | Reduce -3.3% |
| EXP Eagle Materials Inc. | 2.10% | 21,473 | $4.4M | Reduce -3.2% |
| TEX Terex Corp. | 2.09% | 83,054 | $4.4M | Reduce -3.2% |
| CNR Core Natural Resources Inc. | 2.08% | 49,695 | $4.4M | Reduce -3.3% |
| MTG Mgic Investment Corp. | 2.01% | 145,808 | $4.3M | Reduce -3.4% |
| GEO The Geo Group Inc. | 1.96% | 257,858 | $4.2M | Add +42.5% |
| GSM Ferroglobe PLC | 1.86% | 849,162 | $3.9M | Reduce -3.4% |
| GBTG Global Business Travel Group | 1.77% | 489,519 | $3.7M | Reduce -3.3% |
| CRTO Criteo SA-Spon | 1.77% | 181,678 | $3.7M | Reduce -3.3% |
| EPSN Epsilon Energy Ltd. | 1.74% | 794,322 | $3.7M | Add +43.2% |
| EPR Epr Properties filed as EPR PPTYS | 1.74% | 73,802 | $3.7M | Reduce -3.3% |
| BLCO Bausch + Lomb Corp. | 1.73% | 214,326 | $3.7M | Reduce -3.3% |
| HLMN Hillman Solutions Corp. | 1.72% | 419,645 | $3.6M | Reduce -3.4% |
| KN Knowles Corp. | 1.69% | 167,337 | $3.6M | Reduce -3.0% |
| G Genpact Ltd. | 1.67% | 75,680 | $3.5M | Reduce -3.4% |
| IRMD Iradimed Corp. | 1.67% | 36,237 | $3.5M | Reduce -3.3% |
| MLI Mueller Industries Inc. | 1.58% | 29,210 | $3.4M | Reduce -3.4% |
| RHLD Resolute Holdings Manag | 1.54% | 15,869 | $3.3M | Reduce -3.3% |
| BRKR Bruker Corp. | 1.49% | 67,082 | $3.2M | Reduce -3.3% |
| OZK Bank Ozk | 1.45% | 66,605 | $3.1M | Reduce -3.2% |
| DCI Donaldson Co. Inc. | 1.43% | 34,242 | $3.0M | Reduce -3.4% |
| QDEL Quidelortho Corp. | 1.33% | 98,775 | $2.8M | Add +23.4% |
| ATNI Atn International Inc. | 1.32% | 122,408 | $2.8M | Reduce -3.4% |
| RCMT RCM Technologies Inc. | 1.30% | 135,085 | $2.8M | Reduce -3.4% |
| TRIP Tripadvisor Inc. | 1.23% | 178,993 | $2.6M | Reduce -3.3% |
| PHIN Phinia Inc. | 1.22% | 41,122 | $2.6M | Reduce -3.4% |
| CCSI Consensus Cloud Solution | 1.20% | 116,355 | $2.5M | Reduce -3.4% |
| IPGP Ipg Photonics Corp. | 1.14% | 33,814 | $2.4M | Reduce -3.2% |
| EXTR Extreme Networks Inc. | 1.07% | 136,318 | $2.3M | Reduce -3.3% |
| IMKTA Ingles Markets Inc. Class A | 1.01% | 31,183 | $2.1M | Reduce -3.4% |
| CASS Cass Information Systems Inc. | 0.98% | 50,009 | $2.1M | Reduce -3.4% |
| CBT Cabot Corp. | 0.89% | 28,435 | $1.9M | Reduce -3.4% |
| ASIX Advansix Inc. | 0.87% | 106,734 | $1.8M | New |
| KOS Kosmos Energy Ltd. | 0.78% | 1,820,744 | $1.7M | Add +17.4% |
| AMR Alpha Metallurgical Resource | 0.60% | 6,338 | $1.3M | No change |
Portfolio Sells Q3 2025 → Q4 2025
| CLMB Climb Global Solutions Inc. | Reduce -3.7% | 3.73% | −1.18 |
| DOX Amdocs Ltd. | Sold out | 0.00% | −0.88 |
| SEI Solaris Energy Infrastructur | Reduce -37.8% | 2.45% | −0.86 |
| CRMT America's Car-Mart Inc. | Sold out | 0.00% | −0.68 |
| BIOX Bioceres Crop Solutions Corp. | Sold out | 0.00% | −0.48 |
| CCSI Consensus Cloud Solution | Reduce -3.4% | 1.20% | −0.42 |
| RCMT RCM Technologies Inc. | Reduce -3.4% | 1.30% | −0.39 |
| CBNK Capital Bancorp Inc. | Reduce -3.6% | 2.46% | −0.33 |
| EPR Epr Properties | Reduce -3.3% | 1.74% | −0.28 |
| EXP Eagle Materials Inc. | Reduce -3.2% | 2.10% | −0.26 |
| EXTR Extreme Networks Inc. | Reduce -3.3% | 1.07% | −0.26 |
| GPGI Gpgi Inc. | Reduce -3.5% | 2.58% | −0.21 |
| CRTO Criteo SA-Spon | Reduce -3.3% | 1.77% | −0.17 |
| OZK Bank Ozk | Reduce -3.2% | 1.45% | −0.15 |
| TRIP Tripadvisor Inc. | Reduce -3.3% | 1.23% | −0.14 |
| KN Knowles Corp. | Reduce -3.0% | 1.69% | −0.14 |
| CBT Cabot Corp. | Reduce -3.4% | 0.89% | −0.13 |
| IPGP Ipg Photonics Corp. | Reduce -3.2% | 1.14% | −0.12 |
| HLMN Hillman Solutions Corp. | Reduce -3.4% | 1.72% | −0.10 |
| GBTG Global Business Travel Group | Reduce -3.3% | 1.77% | −0.10 |
| NRP Natural Resource Partners LP | Reduce -4.8% | 3.56% | −0.07 |
| AZZ Azz Inc. | Reduce -3.4% | 2.77% | −0.05 |
| IMKTA Ingles Markets Inc. Class A | Reduce -3.4% | 1.01% | −0.01 |
| BCO The Brink's Co. | Reduce -3.4% | 2.73% | −0.00 |
| GSM Ferroglobe PLC | Reduce -3.4% | 1.86% | +0.04 |
| CASS Cass Information Systems Inc. | Reduce -3.4% | 0.98% | +0.05 |
| CVCO Cavco Industries Inc. | Reduce -3.5% | 3.30% | +0.05 |
| MTG Mgic Investment Corp. | Reduce -3.4% | 2.01% | +0.06 |
| BELFB Bel Fuse Inc. Class B | Reduce -17.8% | 3.37% | +0.08 |
| MTUS Metallus Inc. | Reduce -3.4% | 2.26% | +0.08 |
| TEX Terex Corp. | Reduce -3.2% | 2.09% | +0.09 |
| PHIN Phinia Inc. | Reduce -3.4% | 1.22% | +0.10 |
| DCI Donaldson Co. Inc. | Reduce -3.4% | 1.43% | +0.11 |
| PATK Patrick Industries Inc. | Reduce -3.4% | 2.49% | +0.11 |
| CNR Core Natural Resources Inc. | Reduce -3.3% | 2.08% | +0.12 |
| AGM Federal Agric MTG Corp. Class C | Reduce -3.5% | 2.90% | +0.12 |
| MBIN Merchants Bancorp | Reduce -3.3% | 2.14% | +0.14 |
| G Genpact Ltd. | Reduce -3.4% | 1.67% | +0.18 |
| MLI Mueller Industries Inc. | Reduce -3.4% | 1.58% | +0.19 |
| BLCO Bausch + Lomb Corp. | Reduce -3.3% | 1.73% | +0.21 |
| ECVT Ecovyst Inc. | Reduce -3.4% | 2.49% | +0.25 |
| RGLD Royal Gold Inc. | Reduce -3.4% | 2.70% | +0.26 |
| TPB Turning Point Brands Inc. | Reduce -3.4% | 3.34% | +0.29 |
| LSTR Landstar System Inc. | Reduce -3.3% | 2.27% | +0.33 |
| IRMD Iradimed Corp. | Reduce -3.3% | 1.67% | +0.45 |
| ATNI Atn International Inc. | Reduce -3.4% | 1.32% | +0.45 |
| BRKR Bruker Corp. | Reduce -3.3% | 1.49% | +0.46 |
| COLL Collegium Pharmaceutical Inc. | Reduce -3.4% | 2.42% | +0.59 |
| RHLD Resolute Holdings Manag | Reduce -3.3% | 1.54% | +1.00 |
Portfolio Buys Q3 2025 → Q4 2025
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 |