In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 19, 2026), Dayah Capital LLC reported 29 stock positions worth $171.4 million . Its top holding was Ramaco Resources Class A (METC) at 27.5% of the portfolio, followed by Sigma Lithium (SGML, 10.9% ) and Hallador Energy (HNRG, 6.2% ). Compared with Q4 2025, it opened 16 new positions, sold out of 20, added to 5 and reduced 7. The biggest buy was Ramaco Resources Class A (METC, shares +82% ) and the biggest sale an exit from Core Natural Resources (CNR).
Location STAMFORD, CT
CIK 0001980739
Portfolio Value $171.4M (Q1 2026) Holdings 29 stocks · $171.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2025 METC Ramaco Resources Inc. Class A 3,050,000 $47.2M Add +82.1% SGML Sigma Lithium Corp. 1,513,578 $18.7M Add +20.3% HNRG Hallador Energy Co. 648,300 $10.6M Add +483.6% HUT Hut 8 Corp. 217,920 $10.2M Add +12.6% FLR Fluor Corp. 180,215 $8.4M New ATR Aptargroup Inc. 59,000 $7.4M New NGVT Ingevity Corp. 85,795 $6.1M Reduce -27.8% ECVT Ecovyst Inc. 470,000 $6.0M New Q Qnity Electronics Inc. 50,425 $5.8M Reduce -33.0% CC The Chemours Co. 253,903 $5.6M New ASH Ashland Inc. 100,000 $5.6M New OI O-I Glass Inc. 414,897 $4.4M New BG Bunge Global SA 33,000 $4.2M New CLF Cleveland-Cliffs Inc. 480,000 $4.1M New DAR Darling Ingredients Inc. 54,605 $3.4M Add +195.0% PKG Packaging Corp. of America 15,000 $3.2M New FDX FedEx Corp. 7,103 $2.5M Reduce -25.2% FLS Flowserve Corp. 33,944 $2.5M Reduce -32.3% MEOH Methanex Corp. 39,934 $2.4M Reduce -75.8% NUE Nucor Corp. 12,000 $2.0M New STLD Steel Dynamics Inc. 11,000 $2.0M New SFD Smithfield Foods Inc. 70,000 $2.0M New ARLP Alliance Resource Partners 66,000 $1.8M New WMS Advanced Drainage Systems Inc. 12,801 $1.8M New DD Dupont DE Nemours Inc. 35,109 $1.6M Reduce -74.5% ATI Ati Inc. 9,842 $1.4M Reduce -34.4% BCC Boise Cascade Co. 5,000 $379K New ATCX Atlas Critical Minerals Corp. 47,000 $261K New URG Ur-Energy Inc. 20,069 $30K No change
Options reported separately and not counted above: METC calls ($30.9M), HNRG calls ($16.3M), CLF calls ($11.0M), DOW calls ($8.3M), LYB calls ($8.1M), SGML calls ($6.8M), CC calls ($5.6M), VITL calls ($2.8M).
Portfolio Sells Q4 2025 → Q1 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▲ CNR Core Natural Resources Inc. Sold out 0.00% −5.31 MOS The Mosaic Co. Sold out 0.00% −3.78 TE T1 Energy Inc. Sold out 0.00% −3.03 FCX Freeport-McMoran Inc. Sold out 0.00% −3.03 MEOH Methanex Corp. Reduce -75.8% 1.39% −3.03 NB Niocorp Developments Ltd. Sold out 0.00% −3.00 DD Dupont DE Nemours Inc. Reduce -74.5% 0.94% −2.79 SOLS Solstice Adv Materials Inc. Sold out 0.00% −2.72 SLVM Sylvamo Corp. Sold out 0.00% −2.66 VITL Vital Farms Inc. Sold out 0.00% −2.36 RUN Sunrun Inc. Sold out 0.00% −2.24 BA The Boeing Co. Sold out 0.00% −2.19 USAR USA Rare Earth Inc. Sold out 0.00% −1.47 PPTA Perpetua Resources Corp. Sold out 0.00% −1.46 UUUU Energy Fuels Inc. Sold out 0.00% −1.37 NGVT Ingevity Corp. Reduce -27.8% 3.57% −1.17 MT Arcelormittal-NY Registered Sold out 0.00% −0.92 FLS Flowserve Corp. Reduce -32.3% 1.46% −0.89 Q Qnity Electronics Inc. Reduce -33.0% 3.39% −0.74 KNX Knight-Swift Transportation Sold out 0.00% −0.70 UAMY United States Antimony Corp. Sold out 0.00% −0.61 FSLR First Solar Inc. Sold out 0.00% −0.46 ALM Almonty Industries Inc. Sold out 0.00% −0.41 FDX FedEx Corp. Reduce -25.2% 1.48% −0.37 WERN Werner Enterprises Inc. Sold out 0.00% −0.34 ATI Ati Inc. Reduce -34.4% 0.84% −0.32 IDR Idaho Strategic Resources Inc. Sold out 0.00% −0.27
Portfolio Buys Q4 2025 → Q1 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▼ METC Ramaco Resources Inc. Class A Add +82.1% 27.51% +7.23 FLR Fluor Corp. New 4.90% +4.90 HNRG Hallador Energy Co. Add +483.6% 6.16% +4.73 ATR Aptargroup Inc. New 4.34% +4.34 ECVT Ecovyst Inc. New 3.53% +3.53 CC The Chemours Co. New 3.26% +3.26 ASH Ashland Inc. New 3.24% +3.24 OI O-I Glass Inc. New 2.54% +2.54 BG Bunge Global SA New 2.45% +2.45 CLF Cleveland-Cliffs Inc. New 2.37% +2.37 PKG Packaging Corp. of America New 1.86% +1.86 DAR Darling Ingredients Inc. Add +195.0% 1.97% +1.52 NUE Nucor Corp. New 1.18% +1.18 STLD Steel Dynamics Inc. New 1.16% +1.16 SFD Smithfield Foods Inc. New 1.14% +1.14 ARLP Alliance Resource Partners New 1.06% +1.06 WMS Advanced Drainage Systems Inc. New 1.02% +1.02 BCC Boise Cascade Co. New 0.22% +0.22 ATCX Atlas Critical Minerals Corp. New 0.15% +0.15 HUT Hut 8 Corp. Add +12.6% 5.96% −0.02 SGML Sigma Lithium Corp. Add +20.3% 10.90% −0.27
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Sold out 300,000 $204.6Mbefore exit METC Ramaco Resources Inc. Class A call Add +94.0% 2,000,000 $30.9M HNRG Hallador Energy Co. call New 1,000,000 $16.3M CLF Cleveland-Cliffs Inc. call New 1,300,000 $11.0M DOW Dow Inc. call New 200,000 $8.3M LYB Lyondellbasell Indu Class A call New 100,000 $8.1M SGML Sigma Lithium Corp. call Reduce -43.9% 550,000 $6.8M CC The Chemours Co. call New 255,300 $5.6M VITL Vital Farms Inc. call New 200,000 $2.8M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 20 $118.9M METC, HNRG, SGML, HUT, FLR Q1 2026 Amended 29 $171.4M METC, SGML, HNRG, HUT, FLR Q4 2025 Amended 33 $148.6M METC, SGML, HUT, CNR, NGVT