Denali Advisors LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 19, 2024), Denali Advisors LLC reported 450 stock positions worth $339.6 million. Its top holding was Jackson Financial Class A (JXN) at 1.8% of the portfolio, followed by Gulfport Energy (GPOR, 1.7%) and Bluelinx (BXC, 1.7%). Compared with Q4 2023, it opened 63 new positions, sold out of 64, added to 137 and reduced 118. The biggest buy was Graham Class B (GHC, shares +1343%) and the biggest sale an exit from Enova International (ENVA).
- Most Recent 13F
- Q2 2026
- Location
- SAN DIEGO, CA
- CIK
- 0001142941
- Portfolio Value
- $339.6M (Q1 2024)
- SEC Filing
- 0001941040-24-000196 ↗ filed Apr 19, 2024
Holdings Value
Holdings 450 stocks · $339.6M
| JXN Jackson Financial Inc. Class A | 1.78% | 91,200 | $6.0M | Reduce -5.0% |
| GPOR Gulfport Energy Corp. | 1.68% | 35,600 | $5.7M | Add +7.2% |
| BXC Bluelinx Holdings Inc. | 1.67% | 43,443 | $5.7M | Reduce -19.0% |
| VCTR Victory Capital Holding - A | 1.65% | 131,938 | $5.6M | Reduce -4.0% |
| RUSHA Rush Enterprises Inc. Class A | 1.64% | 104,085 | $5.6M | Reduce -0.5% |
| ACT Enact Holdings Inc. | 1.61% | 175,366 | $5.5M | Add +8.7% |
| CCS Century Communities Inc. | 1.58% | 55,573 | $5.4M | Reduce -12.8% |
| GEF Greif Inc. Class A | 1.57% | 77,313 | $5.3M | Add +20.3% |
| RYZ Ryerson Holding Corp. | 1.57% | 159,186 | $5.3M | Add +10.5% |
| FOR Forestar Group Inc. | 1.55% | 131,302 | $5.3M | Add +60.7% |
| NMRK Newmark Group Inc. Class A | 1.53% | 469,729 | $5.2M | Reduce -7.3% |
| SLVM Sylvamo Corp. | 1.51% | 83,200 | $5.1M | Reduce -6.4% |
| CMRE Costamare Inc. | 1.51% | 450,495 | $5.1M | No change |
| FRME First Merchants Corp. | 1.50% | 146,377 | $5.1M | Add +37.1% |
| CNXN PC Connection Inc. | 1.49% | 76,812 | $5.1M | Reduce -0.6% |
| GOLDEN OCEAN GROUP LTD | 1.49% | 390,558 | $5.1M | Reduce -17.4% |
| WOR Worthington Enterprises Inc. | 1.48% | 81,021 | $5.0M | Add +35.4% |
| IMKTA Ingles Markets Inc. Class A | 1.48% | 65,495 | $5.0M | Add +20.0% |
| INVA Innoviva Inc. | 1.46% | 326,086 | $5.0M | Reduce -0.9% |
| HTLF Heartland Financial USA Inc. | 1.45% | 140,096 | $4.9M | Reduce -2.8% |
| NAVI Navient Corp. | 1.45% | 283,000 | $4.9M | Add +115.9% |
| FFBC First Financial Bancorp | 1.42% | 214,600 | $4.8M | Add +37.6% |
| DFH Dream Finders Homes Inc. Class A | 1.41% | 109,810 | $4.8M | Reduce -25.9% |
| DDS Dillards Inc. Class A | 1.38% | 9,920 | $4.7M | Add +0.1% |
| BKE The Buckle Inc. | 1.36% | 114,350 | $4.6M | Add +2.8% |
| PBF PBF Energy Inc. Class A | 1.35% | 79,763 | $4.6M | No change |
| NNI Nelnet Inc. Class A | 1.35% | 48,510 | $4.6M | No change |
| GHC Graham Holdings Co. Class B | 1.31% | 5,802 | $4.5M | Add +1343.3% |
| NTB Bank of N.T. Butterfield&son | 1.29% | 137,266 | $4.4M | Reduce -11.9% |
| BFH Bread Financial Holdings Inc. | 1.26% | 115,174 | $4.3M | Reduce -24.9% |
| FIZZ National Beverage Corp. | 1.18% | 84,600 | $4.0M | No change |
| PFSI Pennymac Financial Services | 1.12% | 41,600 | $3.8M | Add +179.2% |
| SEM Select Medical Holdings Corp. | 1.11% | 125,483 | $3.8M | Add +96.7% |
| SRCE 1ST Source Corp. | 1.10% | 71,500 | $3.7M | Add +30.9% |
| AAMI Acadian Asset Management Inc. filed as BRIGHTSPHERE INVT GROUP INC | 1.06% | 157,091 | $3.6M | Add +99.5% |
| SFNC Simmons First Natl Corp. Class A | 1.05% | 183,800 | $3.6M | New |
| MBIN Merchants Bancorp | 1.03% | 81,313 | $3.5M | Add +0.8% |
| HOPE Hope Bancorp Inc. | 1.01% | 297,700 | $3.4M | Add +5.0% |
| GNW Genworth Financial Inc. | 1.00% | 530,300 | $3.4M | Add +69.8% |
| SASR Sandy Spring Bancorp Inc. | 0.91% | 133,544 | $3.1M | Reduce -6.5% |
| PRDO Perdoceo Education Corp. | 0.85% | 164,700 | $2.9M | Reduce -26.8% |
| ESGR Enstar Group Ltd. | 0.84% | 9,200 | $2.9M | No change |
| SWBI Smith & Wesson Brands Inc. | 0.84% | 164,116 | $2.8M | Add +42.2% |
| ALX Alexander's Inc. | 0.82% | 12,900 | $2.8M | Add +19.4% |
| HPK Highpeak Energy Inc. | 0.82% | 177,500 | $2.8M | Reduce -16.1% |
| BTU Peabody Energy Corp. | 0.81% | 113,225 | $2.7M | Add +11.7% |
| AMCX AMC Global Media Inc. filed as AMC NETWORKS INC | 0.80% | 224,200 | $2.7M | Reduce -0.0% |
| MOV Movado Group Inc. | 0.79% | 96,400 | $2.7M | Add +195.7% |
| SD Sandridge Energy Inc. | 0.74% | 172,800 | $2.5M | Add +87.2% |
| AMKR Amkor Technology Inc. | 0.72% | 76,226 | $2.5M | Reduce -17.3% |
| ARCH Arch Resources Inc. | 0.71% | 15,100 | $2.4M | New |
| ULH Universal Logistics Holdings | 0.68% | 62,731 | $2.3M | No change |
| SAH Sonic Automotive Inc. Class A | 0.62% | 36,700 | $2.1M | Add +32.0% |
| FLNG Flex LNG Ltd. | 0.60% | 80,600 | $2.0M | Add +613.3% |
| SHOE Shoe Station Group Inc. filed as SHOE CARNIVAL INC | 0.59% | 55,100 | $2.0M | Add +48.5% |
| HVT Haverty Furniture | 0.57% | 56,400 | $1.9M | Add +61.1% |
| MATX Matson Inc. | 0.56% | 17,057 | $1.9M | Reduce -39.4% |
| CUBI Customers Bancorp Inc. | 0.54% | 34,344 | $1.8M | Reduce -59.6% |
| GIC Global Industrial Co. | 0.52% | 39,522 | $1.8M | No change |
| GTN Gray Media Inc. filed as GRAY TELEVISION INC | 0.52% | 279,919 | $1.8M | Add +0.0% |
| HOV Hovnanian Enterprises-A | 0.50% | 10,906 | $1.7M | Add +88.0% |
| RBCAA Republic Bancorp Inc. Class A | 0.46% | 30,400 | $1.6M | Reduce -17.2% |
| DNOW Dnow Inc. | 0.41% | 92,700 | $1.4M | New |
| JOUT Johnson Outdoors Inc. Class A | 0.41% | 30,300 | $1.4M | Add +6.7% |
| SBOW Silverbow Resources Inc. | 0.41% | 40,600 | $1.4M | Add +62.4% |
| WMK Weis Markets Inc. filed as WEIS MKTS INC | 0.41% | 21,400 | $1.4M | No change |
| CVI CVR Energy Inc. | 0.39% | 37,572 | $1.3M | Reduce -17.0% |
| VGR Vector Group Ltd. | 0.39% | 121,200 | $1.3M | Add +373.4% |
| JPM JPMorgan Chase & Co. | 0.36% | 6,100 | $1.2M | Reduce -9.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.36% | 2,900 | $1.2M | Reduce -9.4% |
| USNA Usana Health Sciences Inc. | 0.35% | 24,700 | $1.2M | Reduce -47.6% |
| XOM Exxon Mobil Corp. | 0.35% | 10,100 | $1.2M | New |
| QCRH QCR Holdings Inc. | 0.33% | 18,600 | $1.1M | Add +111.4% |
| GEO The Geo Group Inc. | 0.33% | 79,200 | $1.1M | Reduce -31.5% |
| GOOGL Alphabet Inc. Class A | 0.32% | 7,100 | $1.1M | Add +6.0% |
| CRBG Corebridge Financial Inc. | 0.32% | 37,249 | $1.1M | Add +52.5% |
| GLNG Golar LNG Ltd. | 0.31% | 43,600 | $1.0M | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.31% | 27,500 | $1.0M | Reduce -6.1% |
| MED Medifast Inc. | 0.30% | 26,413 | $1.0M | Add +21.1% |
| TTEC Ttec Holdings Inc. filed as TTEC HLDGS INC | 0.30% | 97,293 | $1.0M | No change |
| AIG American International Group | 0.29% | 12,400 | $969K | Add +17.0% |
| CVX Chevron Corp. | 0.28% | 6,100 | $962K | Add +258.8% |
| KRO Kronos Worldwide Inc. | 0.28% | 80,700 | $952K | Reduce -29.9% |
| SMP Standard Motor Prods | 0.28% | 28,200 | $946K | Add +65.9% |
| HPQ HP Inc. | 0.28% | 31,207 | $943K | Add +9.4% |
| LEN Lennar Corp. Class A | 0.27% | 5,427 | $933K | Reduce -14.3% |
| NUE Nucor Corp. | 0.27% | 4,619 | $914K | Reduce -0.0% |
| WLK Westlake Corp. | 0.27% | 5,925 | $905K | No change |
| GS Goldman Sachs Group Inc. | 0.26% | 2,100 | $877K | Reduce -4.5% |
| LYB Lyondellbasell Indu Class A | 0.25% | 8,341 | $853K | Add +2.5% |
| AFL Aflac Inc. | 0.25% | 9,836 | $845K | Reduce -0.1% |
| INBK First Internet Bancorp | 0.25% | 24,300 | $844K | No change |
| BUSE First Busey Corp. | 0.25% | 34,900 | $839K | Add +3072.7% |
| MPX Marine Products Corp. | 0.24% | 70,600 | $830K | Add +27.7% |
| VZ Verizon Communications Inc. | 0.24% | 19,600 | $822K | Reduce -8.0% |
| WY Weyerhaeuser Co. | 0.24% | 22,896 | $822K | Add +8.1% |
| GM General Motors Co. | 0.24% | 18,100 | $821K | Add +6.5% |
| PFE Pfizer Inc. | 0.24% | 29,200 | $810K | Add +11.9% |
| HCA HCA Healthcare Inc. | 0.24% | 2,400 | $800K | Add +14.3% |
| THRY Thryv Holdings Inc. | 0.23% | 35,640 | $792K | Reduce -48.5% |
Portfolio Sells Q4 2023 → Q1 2024
| ENVA Enova International Inc. | Sold out | 0.00% | −1.48 |
| ESNT Essent Group Ltd. | Reduce -99.9% | 0.00% | −1.37 |
| CUBI Customers Bancorp Inc. | Reduce -59.6% | 0.54% | −0.96 |
| STC Stewart Information Services | Sold out | 0.00% | −0.94 |
| BZH Beazer Homes USA Inc. | Sold out | 0.00% | −0.83 |
| VSTO Vista Outdoor Inc. | Reduce -100.0% | 0.00% | −0.52 |
| NHC National Healthcare Corp. | Sold out | 0.00% | −0.52 |
| WS Worthington Steel Inc. | Sold out | 0.00% | −0.51 |
| TGH Textainer Group Holdings Ltd. | Sold out | 0.00% | −0.51 |
| AMCX AMC Global Media Inc. | Reduce -0.0% | 0.80% | −0.49 |
| ECHO Echostar Corp. Class A | Reduce -99.9% | 0.00% | −0.44 |
| USNA Usana Health Sciences Inc. | Reduce -47.6% | 0.35% | −0.42 |
| LEU Centrus Energy Corp. Class A | Reduce -69.2% | 0.11% | −0.38 |
| MATX Matson Inc. | Reduce -39.4% | 0.56% | −0.38 |
| PRDO Perdoceo Education Corp. | Reduce -26.8% | 0.85% | −0.36 |
| BFH Bread Financial Holdings Inc. | Reduce -24.9% | 1.26% | −0.28 |
| SASR Sandy Spring Bancorp Inc. | Reduce -6.5% | 0.91% | −0.28 |
| FBK FB Financial Corp. | Sold out | 0.00% | −0.27 |
| COOP Mr Cooper Group Inc. | Sold out | 0.00% | −0.26 |
| NTB Bank of N.T. Butterfield&son | Reduce -11.9% | 1.29% | −0.23 |
| AMKR Amkor Technology Inc. | Reduce -17.3% | 0.72% | −0.21 |
| HTLF Heartland Financial USA Inc. | Reduce -2.8% | 1.45% | −0.21 |
| BANR Banner Corporation | Sold out | 0.00% | −0.21 |
| THRY Thryv Holdings Inc. | Reduce -48.5% | 0.23% | −0.20 |
| CCS Century Communities Inc. | Reduce -12.8% | 1.58% | −0.20 |
| DFH Dream Finders Homes Inc. Class A | Reduce -25.9% | 1.41% | −0.20 |
| BXC Bluelinx Holdings Inc. | Reduce -19.0% | 1.67% | −0.19 |
| GNE Genie Energy Ltd. Class B | Reduce -65.0% | 0.04% | −0.18 |
| NRIX Nurix Therapeutics Inc. | Sold out | 0.00% | −0.18 |
| NMRK Newmark Group Inc. Class A | Reduce -7.3% | 1.53% | −0.16 |
| RBCAA Republic Bancorp Inc. Class A | Reduce -17.2% | 0.46% | −0.16 |
| SRRK Scholar Rock Holding Corp. | Sold out | 0.00% | −0.16 |
| EMBC Embecta Corp. | Reduce -18.3% | 0.20% | −0.16 |
| REPX Riley Exploration Permian Inc. | Reduce -61.6% | 0.13% | −0.16 |
| MS Morgan Stanley | Sold out | 0.00% | −0.16 |
| INVA Innoviva Inc. | Reduce -0.9% | 1.46% | −0.15 |
| SPRY Ars Pharmaceuticals Inc. | Sold out | 0.00% | −0.15 |
| USLM United States Lime & Mineral | Sold out | 0.00% | −0.14 |
| VLO Valero Energy Corp. | Sold out | 0.00% | −0.14 |
| BY Byline Bancorp Inc. | Sold out | 0.00% | −0.13 |
| DSKE Daseke Inc. | Sold out | 0.00% | −0.13 |
| OFG Ofg Bancorp | Sold out | 0.00% | −0.13 |
| THRX Theseus Pharmaceuticals Inc. | Sold out | 0.00% | −0.13 |
| CMTG Claros Mortgage Trust Inc. | Sold out | 0.00% | −0.12 |
| LII Lennox International Inc. | Reduce -47.3% | 0.13% | −0.10 |
| DGX Quest Diagnostics Inc. | Reduce -88.9% | 0.01% | −0.10 |
| CNXN PC Connection Inc. | Reduce -0.6% | 1.49% | −0.10 |
| HPK Highpeak Energy Inc. | Reduce -16.1% | 0.82% | −0.10 |
| CRGY Crescent Energy Inc. Class A | Sold out | 0.00% | −0.09 |
| KR Kroger Co. | Sold out | 0.00% | −0.09 |
Portfolio Buys Q4 2023 → Q1 2024
| GHC Graham Holdings Co. Class B | Add +1343.3% | 1.31% | +1.23 |
| SFNC Simmons First Natl Corp. Class A | New | 1.05% | +1.05 |
| FOR Forestar Group Inc. | Add +60.7% | 1.55% | +0.73 |
| ARCH Arch Resources Inc. | New | 0.71% | +0.71 |
| PFSI Pennymac Financial Services | Add +179.2% | 1.12% | +0.71 |
| NAVI Navient Corp. | Add +115.9% | 1.45% | +0.70 |
| SEM Select Medical Holdings Corp. | Add +96.7% | 1.11% | +0.66 |
| AAMI Acadian Asset Management Inc. | Add +99.5% | 1.06% | +0.60 |
| FLNG Flex LNG Ltd. | Add +613.3% | 0.60% | +0.50 |
| MOV Movado Group Inc. | Add +195.7% | 0.79% | +0.49 |
| WOR Worthington Enterprises Inc. | Add +35.4% | 1.48% | +0.43 |
| DNOW Dnow Inc. | New | 0.41% | +0.41 |
| GNW Genworth Financial Inc. | Add +69.8% | 1.00% | +0.37 |
| SWBI Smith & Wesson Brands Inc. | Add +42.2% | 0.84% | +0.36 |
| SD Sandridge Energy Inc. | Add +87.2% | 0.74% | +0.36 |
| XOM Exxon Mobil Corp. | New | 0.35% | +0.35 |
| GPOR Gulfport Energy Corp. | Add +7.2% | 1.68% | +0.33 |
| GLNG Golar LNG Ltd. | New | 0.31% | +0.31 |
| VGR Vector Group Ltd. | Add +373.4% | 0.39% | +0.30 |
| FRME First Merchants Corp. | Add +37.1% | 1.50% | +0.29 |
| FFBC First Financial Bancorp | Add +37.6% | 1.42% | +0.28 |
| GEF Greif Inc. Class A | Add +20.3% | 1.57% | +0.28 |
| SHOE Shoe Station Group Inc. | Add +48.5% | 0.59% | +0.25 |
| BUSE First Busey Corp. | Add +3072.7% | 0.25% | +0.24 |
| HOV Hovnanian Enterprises-A | Add +88.0% | 0.50% | +0.23 |
| CPE Callon Petroleum Co. | New | 0.22% | +0.22 |
| CVX Chevron Corp. | Add +258.8% | 0.28% | +0.21 |
| ACI Albertsons Cos Inc. Class A | Add +540666.7% | 0.20% | +0.20 |
| SRCE 1ST Source Corp. | Add +30.9% | 1.10% | +0.19 |
| HVT Haverty Furniture | Add +61.1% | 0.57% | +0.19 |
| ACT Enact Holdings Inc. | Add +8.7% | 1.61% | +0.19 |
| SBOW Silverbow Resources Inc. | Add +62.4% | 0.41% | +0.19 |
| QCRH QCR Holdings Inc. | Add +111.4% | 0.33% | +0.18 |
| DDS Dillards Inc. Class A | Add +0.1% | 1.38% | +0.16 |
| CRBG Corebridge Financial Inc. | Add +52.5% | 0.32% | +0.15 |
| GES Guess? Inc. | New | 0.15% | +0.15 |
| TWI Titan International Inc. | New | 0.15% | +0.15 |
| SB Safe Bulkers Inc. | New | 0.15% | +0.15 |
| SAH Sonic Automotive Inc. Class A | Add +32.0% | 0.62% | +0.14 |
| GEHC GE Healthcare Technology | New | 0.13% | +0.13 |
| PFG Principal Financial Group | Add +259.7% | 0.17% | +0.12 |
| ALX Alexander's Inc. | Add +19.4% | 0.82% | +0.12 |
| OEC Orion SA | New | 0.11% | +0.11 |
| EWTX Edgewise Therapeutics Inc. | New | 0.10% | +0.10 |
| MBWM Mercantile Bank Corp. | Add +126.7% | 0.19% | +0.10 |
| CNO Cno Financial Group Inc. | Add +87.9% | 0.23% | +0.10 |
| ACMR Acm Research Inc. Class A | New | 0.10% | +0.10 |
| HEES H&E Equipment Services Inc. | New | 0.09% | +0.09 |
| BELFB Bel Fuse Inc. Class B | New | 0.09% | +0.09 |
| REPL Replimune Group Inc. | New | 0.09% | +0.09 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 318 | $993.0M | NVDA, GOOG, AAPL, MSFT, AMZN |
| Q1 2026 | 307 | $899.7M | NVDA, AAPL, GOOG, MSFT, AMZN |
| Q4 2025 | 321 | $901.0M | NVDA, MSFT, AAPL, GOOG, AMZN |
| Q3 2025 | 297 | $885.1M | NVDA, MSFT, AAPL, GOOG, AMZN |
| Q2 2025 | 288 | $960.1M | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 274 | $878.6M | MSFT, AAPL, NVDA, AMZN, META |
| Q4 2024 | 271 | $954.0M | MSFT, AAPL, NVDA, AMZN, GOOG |
| Q3 2024 | 271 | $930.7M | MSFT, NVDA, AAPL, AMZN, GOOG |
| Q2 2024 | 175 | $365.4M | INVA, CMRE, ACT, JXN, FRME |
| Q1 2024 | 450 | $339.6M | JXN, GPOR, BXC, VCTR, RUSHA |