Ballast Asset Management, LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 7, 2026), Ballast Asset Management, LP reported 52 stock positions worth $224.7 million. Its top holding was Natural Resource Partners (NRP) at 4.1% of the portfolio, followed by Ecovyst (ECVT, 3.2%) and Azz (AZZ, 3.1%). Compared with Q4 2025, it opened 1 new position, sold out of 1, added to 49 and reduced 2. The biggest buy was Kosmos Energy (KOS, shares +11%) and the biggest sale an exit from Resolute Holdings Manag (RHLD).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001998389
- Portfolio Value
- $224.7M (Q1 2026)
- SEC Filing
- 0001998389-26-000002 ↗ filed May 7, 2026
Holdings Value
Holdings 52 stocks · $224.7M
| NRP Natural Resource Partners LP | 4.09% | 75,868 | $9.2M | Add +5.1% |
| ECVT Ecovyst Inc. | 3.17% | 554,625 | $7.1M | Add +2.5% |
| AZZ Azz Inc. | 3.12% | 56,052 | $7.0M | Add +2.5% |
| RGLD Royal Gold Inc. | 2.98% | 26,357 | $6.7M | Add +2.5% |
| SEI Solaris Energy Infrastructur | 2.91% | 115,871 | $6.5M | Add +2.5% |
| CLMB Climb Global Solutions Inc. | 2.82% | 319,188 | $6.3M | Add +3.8% |
| CVCO Cavco Industries Inc. | 2.61% | 12,117 | $5.9M | Add +2.6% |
| MBIN Merchants Bancorp | 2.61% | 136,586 | $5.9M | Add +2.5% |
| TPB Turning Point Brands Inc. | 2.58% | 66,887 | $5.8M | Add +2.5% |
| CBNK Capital Bancorp Inc. | 2.51% | 189,845 | $5.6M | Add +2.7% |
| KOS Kosmos Energy Ltd. | 2.51% | 2,028,059 | $5.6M | Add +11.4% |
| AGM Federal Agric MTG Corp. Class C | 2.48% | 37,592 | $5.6M | Add +7.5% |
| PATK Patrick Industries Inc. | 2.46% | 49,759 | $5.5M | Add +2.5% |
| LSTR Landstar System Inc. | 2.44% | 34,249 | $5.5M | Add +2.5% |
| GEO The Geo Group Inc. | 2.40% | 320,748 | $5.4M | Add +24.4% |
| CNR Core Natural Resources Inc. | 2.37% | 50,920 | $5.3M | Add +2.5% |
| BCO The Brink's Co. | 2.36% | 51,249 | $5.3M | Add +3.5% |
| TEX Terex Corp. | 2.24% | 85,144 | $5.0M | Add +2.5% |
| EPSN Epsilon Energy Ltd. | 2.23% | 814,322 | $5.0M | Add +2.5% |
| GPGI Gpgi Inc. | 2.21% | 290,423 | $5.0M | Add +2.5% |
| BELFB Bel Fuse Inc. Class B | 2.09% | 23,727 | $4.7M | Reduce -43.5% |
| MTUS Metallus Inc. | 2.08% | 286,487 | $4.7M | Add +2.5% |
| KN Knowles Corp. | 1.95% | 170,987 | $4.4M | Add +2.2% |
| CRTO Criteo SA-Spon | 1.86% | 233,538 | $4.2M | Add +28.6% |
| EXP Eagle Materials Inc. | 1.85% | 21,978 | $4.2M | Add +2.4% |
| MLI Mueller Industries Inc. | 1.84% | 37,339 | $4.1M | Add +27.8% |
| CCSI Consensus Cloud Solution | 1.75% | 166,085 | $3.9M | Add +42.7% |
| MTG Mgic Investment Corp. | 1.75% | 149,458 | $3.9M | Add +2.5% |
| EPR Epr Properties filed as EPR PPTYS | 1.68% | 75,617 | $3.8M | Add +2.5% |
| ATNI Atn International Inc. | 1.67% | 137,593 | $3.7M | Add +12.4% |
| COLL Collegium Pharmaceutical Inc. | 1.67% | 113,223 | $3.7M | Add +2.5% |
| HLMN Hillman Solutions Corp. | 1.65% | 445,835 | $3.7M | Add +6.2% |
| GSM Ferroglobe PLC | 1.60% | 870,172 | $3.6M | Add +2.5% |
| IRMD Iradimed Corp. | 1.59% | 37,107 | $3.6M | Add +2.4% |
| BLCO Bausch + Lomb Corp. | 1.55% | 219,566 | $3.5M | Add +2.4% |
| OZK Bank Ozk | 1.48% | 72,305 | $3.3M | Add +8.6% |
| BRKR Bruker Corp. | 1.46% | 90,564 | $3.3M | Add +35.0% |
| G Genpact Ltd. | 1.38% | 83,112 | $3.1M | Add +9.8% |
| RCMT RCM Technologies Inc. | 1.37% | 160,995 | $3.1M | Add +19.2% |
| CBT Cabot Corp. | 1.37% | 40,746 | $3.1M | Add +43.3% |
| IPGP Ipg Photonics Corp. | 1.33% | 26,119 | $3.0M | Reduce -22.8% |
| DCI Donaldson Co. Inc. | 1.33% | 35,107 | $3.0M | Add +2.5% |
| PHIN Phinia Inc. | 1.28% | 42,147 | $2.9M | Add +2.5% |
| IMKTA Ingles Markets Inc. Class A | 1.28% | 31,958 | $2.9M | Add +2.5% |
| ASIX Advansix Inc. | 1.27% | 117,124 | $2.9M | Add +9.7% |
| GBTG Global Business Travel Group | 1.24% | 501,344 | $2.8M | Add +2.4% |
| QDEL Quidelortho Corp. | 1.07% | 145,960 | $2.4M | Add +47.8% |
| CASS Cass Information Systems Inc. | 1.00% | 51,269 | $2.3M | Add +2.5% |
| EXTR Extreme Networks Inc. | 0.94% | 139,668 | $2.1M | Add +2.5% |
| SPSC SPS Commerce Inc. | 0.93% | 37,400 | $2.1M | New |
| TRIP Tripadvisor Inc. | 0.87% | 183,413 | $2.0M | Add +2.5% |
| AMR Alpha Metallurgical Resource | 0.71% | 7,738 | $1.6M | Add +22.1% |
Portfolio Sells Q4 2025 → Q1 2026
Portfolio Buys Q4 2025 → Q1 2026
| KOS Kosmos Energy Ltd. | Add +11.4% | 2.51% | +1.73 |
| SPSC SPS Commerce Inc. | New | 0.93% | +0.93 |
| ECVT Ecovyst Inc. | Add +2.5% | 3.17% | +0.69 |
| CCSI Consensus Cloud Solution | Add +42.7% | 1.75% | +0.56 |
| NRP Natural Resource Partners LP | Add +5.1% | 4.09% | +0.52 |
| EPSN Epsilon Energy Ltd. | Add +2.5% | 2.23% | +0.49 |
| CBT Cabot Corp. | Add +43.3% | 1.37% | +0.48 |
| MBIN Merchants Bancorp | Add +2.5% | 2.61% | +0.46 |
| SEI Solaris Energy Infrastructur | Add +2.5% | 2.91% | +0.46 |
| GEO The Geo Group Inc. | Add +24.4% | 2.40% | +0.44 |
| ASIX Advansix Inc. | Add +9.7% | 1.27% | +0.40 |
| AZZ Azz Inc. | Add +2.5% | 3.12% | +0.35 |
| ATNI Atn International Inc. | Add +12.4% | 1.67% | +0.35 |
| CNR Core Natural Resources Inc. | Add +2.5% | 2.37% | +0.30 |
| RGLD Royal Gold Inc. | Add +2.5% | 2.98% | +0.29 |
| IMKTA Ingles Markets Inc. Class A | Add +2.5% | 1.28% | +0.27 |
| KN Knowles Corp. | Add +2.2% | 1.95% | +0.26 |
| MLI Mueller Industries Inc. | Add +27.8% | 1.84% | +0.26 |
| LSTR Landstar System Inc. | Add +2.5% | 2.44% | +0.17 |
| TEX Terex Corp. | Add +2.5% | 2.24% | +0.14 |
| AMR Alpha Metallurgical Resource | Add +22.1% | 0.71% | +0.11 |
| CRTO Criteo SA-Spon | Add +28.6% | 1.86% | +0.09 |
| RCMT RCM Technologies Inc. | Add +19.2% | 1.37% | +0.07 |
| PHIN Phinia Inc. | Add +2.5% | 1.28% | +0.07 |
| CBNK Capital Bancorp Inc. | Add +2.7% | 2.51% | +0.05 |
| OZK Bank Ozk | Add +8.6% | 1.48% | +0.03 |
| CASS Cass Information Systems Inc. | Add +2.5% | 1.00% | +0.02 |
| PATK Patrick Industries Inc. | Add +2.5% | 2.46% | −0.03 |
| BRKR Bruker Corp. | Add +35.0% | 1.46% | −0.04 |
| EPR Epr Properties | Add +2.5% | 1.68% | −0.06 |
| HLMN Hillman Solutions Corp. | Add +6.2% | 1.65% | −0.07 |
| IRMD Iradimed Corp. | Add +2.4% | 1.59% | −0.08 |
| DCI Donaldson Co. Inc. | Add +2.5% | 1.33% | −0.11 |
| EXTR Extreme Networks Inc. | Add +2.5% | 0.94% | −0.13 |
| BLCO Bausch + Lomb Corp. | Add +2.4% | 1.55% | −0.18 |
| MTUS Metallus Inc. | Add +2.5% | 2.08% | −0.18 |
| EXP Eagle Materials Inc. | Add +2.4% | 1.85% | −0.24 |
| QDEL Quidelortho Corp. | Add +47.8% | 1.07% | −0.27 |
| GSM Ferroglobe PLC | Add +2.5% | 1.60% | −0.27 |
| MTG Mgic Investment Corp. | Add +2.5% | 1.75% | −0.27 |
| G Genpact Ltd. | Add +9.8% | 1.38% | −0.29 |
| TRIP Tripadvisor Inc. | Add +2.5% | 0.87% | −0.36 |
| BCO The Brink's Co. | Add +3.5% | 2.36% | −0.37 |
| GPGI Gpgi Inc. | Add +2.5% | 2.21% | −0.37 |
| AGM Federal Agric MTG Corp. Class C | Add +7.5% | 2.48% | −0.42 |
| GBTG Global Business Travel Group | Add +2.4% | 1.24% | −0.52 |
| CVCO Cavco Industries Inc. | Add +2.6% | 2.61% | −0.68 |
| COLL Collegium Pharmaceutical Inc. | Add +2.5% | 1.67% | −0.75 |
| TPB Turning Point Brands Inc. | Add +2.5% | 2.58% | −0.76 |
| CLMB Climb Global Solutions Inc. | Add +3.8% | 2.82% | −0.92 |
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 |