Denali Advisors LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Denali Advisors LLC reported 271 stock positions worth $930.7 million. Its top holding was Microsoft (MSFT) at 4.5% of the portfolio, followed by Nvidia (NVDA, 3.8%) and Apple (AAPL, 3.8%). Compared with Q2 2024, it opened 132 new positions, sold out of 36, added to 84 and reduced 39. The biggest buy was a new position in Microsoft (MSFT) and the biggest sale an exit from Century Communities (CCS).
- Most Recent 13F
- Q2 2026
- Location
- SAN DIEGO, CA
- CIK
- 0001142941
- Portfolio Value
- $930.7M (Q3 2024)
- SEC Filing
- 0001398344-24-020608 ↗ filed Nov 13, 2024
Holdings Value
Holdings 271 stocks · $930.7M
| MSFT Microsoft Corp. | 4.54% | 98,165 | $42.2M | New |
| NVDA Nvidia Corp. | 3.79% | 290,496 | $35.3M | New |
| AAPL Apple Inc. | 3.77% | 150,684 | $35.1M | New |
| AMZN Amazon.com Inc. | 2.45% | 122,581 | $22.8M | New |
| GOOG Alphabet Inc. Class C | 2.12% | 117,896 | $19.7M | New |
| META Meta Platforms Inc. Class A | 2.05% | 33,296 | $19.1M | New |
| LLY Eli Lilly & Co. | 1.48% | 15,553 | $13.8M | New |
| ARCC Ares Capital Corp. | 1.40% | 623,570 | $13.1M | New |
| OBDC Blue Owl Capital Corp. | 1.10% | 703,794 | $10.3M | New |
| COST Costco Wholesale Corp. | 1.08% | 11,328 | $10.0M | New |
| BXSL Blackstone Secured Lending F | 1.06% | 338,082 | $9.9M | New |
| NFLX Netflix Inc. | 1.01% | 13,248 | $9.4M | New |
| HD Home Depot Inc. | 1.00% | 22,934 | $9.3M | New |
| AVGO Broadcom Inc. | 0.99% | 53,581 | $9.2M | New |
| GBDC Golub Capital BDC Inc. | 0.96% | 589,649 | $8.9M | New |
| MAIN Main Street Capital Corp. | 0.91% | 168,316 | $8.4M | New |
| XOM Exxon Mobil Corp. | 0.88% | 70,067 | $8.2M | Add +615.0% |
| TGNA Tegna Inc. | 0.88% | 518,574 | $8.2M | Add +787.9% |
| WMT Walmart Inc. | 0.85% | 98,403 | $7.9M | New |
| DFH Dream Finders Homes Inc. Class A | 0.85% | 218,242 | $7.9M | Add +55.4% |
| SLVM Sylvamo Corp. | 0.85% | 91,800 | $7.9M | Reduce -0.4% |
| CMRE Costamare Inc. | 0.84% | 499,895 | $7.9M | Add +16.1% |
| NMRK Newmark Group Inc. Class A | 0.84% | 502,592 | $7.8M | Reduce -23.1% |
| ACT Enact Holdings Inc. | 0.82% | 211,266 | $7.7M | Reduce -7.1% |
| FOR Forestar Group Inc. | 0.81% | 232,560 | $7.5M | Add +64.1% |
| RUSHA Rush Enterprises Inc. Class A | 0.80% | 140,485 | $7.4M | Reduce -5.6% |
| JXN Jackson Financial Inc. Class A | 0.80% | 81,320 | $7.4M | Reduce -13.1% |
| SFNC Simmons First Natl Corp. Class A | 0.80% | 344,000 | $7.4M | Reduce -8.5% |
| V Visa Inc. Class A | 0.79% | 26,849 | $7.4M | New |
| INVA Innoviva Inc. | 0.79% | 380,402 | $7.3M | Reduce -13.5% |
| CNXN PC Connection Inc. | 0.79% | 97,100 | $7.3M | Add +12.7% |
| IMKTA Ingles Markets Inc. Class A | 0.78% | 97,308 | $7.3M | Add +5.7% |
| GEF Greif Inc. Class A | 0.78% | 115,621 | $7.2M | Add +9.6% |
| NOW ServiceNow Inc. | 0.78% | 8,093 | $7.2M | New |
| NNI Nelnet Inc. Class A | 0.78% | 63,810 | $7.2M | Reduce -1.1% |
| SNEX Stonex Group Inc. | 0.77% | 87,541 | $7.2M | Add +110.9% |
| HTGC Hercules Capital Inc. | 0.76% | 358,580 | $7.0M | New |
| PEP Pepsico Inc. | 0.75% | 41,074 | $7.0M | New |
| AMLP Alerian MLP ETF | 0.75% | 148,045 | $7.0M | New |
| SRCE 1ST Source Corp. | 0.75% | 116,500 | $7.0M | Add +10.8% |
| MBIN Merchants Bancorp | 0.75% | 154,789 | $7.0M | Add +19.8% |
| FIZZ National Beverage Corp. | 0.74% | 147,032 | $6.9M | Add +27.7% |
| BKE The Buckle Inc. | 0.74% | 156,928 | $6.9M | No change |
| FFBC First Financial Bancorp | 0.73% | 270,400 | $6.8M | Reduce -10.7% |
| FRME First Merchants Corp. | 0.73% | 183,300 | $6.8M | Reduce -10.2% |
| FSK FS KKR Capital Corp. | 0.70% | 330,809 | $6.5M | New |
| GOLDEN OCEAN GROUP LTD | 0.70% | 487,290 | $6.5M | Add +11.1% |
| ALX Alexander's Inc. | 0.70% | 26,813 | $6.5M | Add +37.5% |
| BXC Bluelinx Holdings Inc. | 0.69% | 61,243 | $6.5M | Reduce -8.4% |
| NTB Bank of N.T. Butterfield&son | 0.68% | 171,815 | $6.3M | Add +17.4% |
| GD General Dynamics Corp. | 0.66% | 20,348 | $6.1M | Add +1171.8% |
| CNO Cno Financial Group Inc. | 0.62% | 165,600 | $5.8M | Reduce -28.3% |
| HPK Highpeak Energy Inc. | 0.62% | 418,046 | $5.8M | Add +30.7% |
| ANET Arista Networks Inc. | 0.61% | 14,702 | $5.6M | New |
| PANW Palo Alto Networks Inc. | 0.61% | 16,493 | $5.6M | New |
| AMR Alpha Metallurgical Resource | 0.60% | 23,802 | $5.6M | Add +158.7% |
| SCCO Southern Copper Corp. | 0.59% | 47,645 | $5.5M | Add +1023.2% |
| INTU Intuit Inc. | 0.57% | 8,492 | $5.3M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.55% | 11,210 | $5.2M | Add +250.3% |
| TTEK Tetra Tech Inc. | 0.55% | 108,932 | $5.1M | New |
| FLNG Flex LNG Ltd. | 0.54% | 197,800 | $5.0M | Add +24.9% |
| WM Waste Management Inc. | 0.54% | 24,202 | $5.0M | New |
| ORCL Oracle Corp. | 0.53% | 28,962 | $4.9M | New |
| BWXT BWX Technologies Inc. | 0.52% | 44,520 | $4.8M | New |
| WOR Worthington Enterprises Inc. | 0.51% | 114,700 | $4.8M | Add +2.6% |
| STLD Steel Dynamics Inc. | 0.51% | 37,653 | $4.7M | Add +1003.2% |
| GNW Genworth Financial Inc. | 0.51% | 690,700 | $4.7M | No change |
| LNG Cheniere Energy Inc. | 0.50% | 25,800 | $4.6M | Add +416.0% |
| ATKR Atkore Inc. | 0.50% | 54,600 | $4.6M | New |
| TSLX Sixth Street Specialty Lendi | 0.49% | 220,892 | $4.5M | New |
| MOV Movado Group Inc. | 0.48% | 240,992 | $4.5M | Add +24.4% |
| TWI Titan International Inc. | 0.48% | 545,427 | $4.4M | Add +97.0% |
| TRI Thomson Reuters Corp. | 0.48% | 25,955 | $4.4M | New |
| PFSI Pennymac Financial Services | 0.48% | 38,800 | $4.4M | Reduce -42.8% |
| BLDR Builders Firstsource Inc. | 0.47% | 22,496 | $4.4M | New |
| MAR Marriott International Class A | 0.47% | 17,491 | $4.3M | New |
| THC Tenet Healthcare Corp. | 0.46% | 25,586 | $4.3M | New |
| SD Sandridge Energy Inc. | 0.45% | 345,694 | $4.2M | Add +18.1% |
| GRBK Green Brick Partners Inc. | 0.45% | 50,200 | $4.2M | Add +83.2% |
| TGT Target Corp. | 0.43% | 25,874 | $4.0M | New |
| JPM JPMorgan Chase & Co. | 0.43% | 18,970 | $4.0M | Add +216.2% |
| COP Conocophillips | 0.43% | 37,947 | $4.0M | New |
| HOPE Hope Bancorp Inc. | 0.42% | 314,800 | $4.0M | Reduce -10.2% |
| TSLA Tesla Inc. | 0.42% | 15,092 | $3.9M | New |
| BTU Peabody Energy Corp. | 0.42% | 147,782 | $3.9M | Add +6.7% |
| VST Vistra Corp. | 0.41% | 32,497 | $3.9M | New |
| ARCH Arch Resources Inc. | 0.41% | 27,500 | $3.8M | Add +33.5% |
| CVI CVR Energy Inc. | 0.39% | 159,162 | $3.7M | No change |
| QCRH QCR Holdings Inc. | 0.39% | 48,978 | $3.6M | Add +249.8% |
| ULH Universal Logistics Holdings | 0.39% | 83,831 | $3.6M | No change |
| MA Mastercard Inc. Class A | 0.39% | 7,306 | $3.6M | New |
| PG The Procter & Gamble Co. | 0.38% | 20,429 | $3.5M | New |
| CCSI Consensus Cloud Solution | 0.38% | 149,758 | $3.5M | Add +144.7% |
| MCD McDonald's Corp. | 0.37% | 11,293 | $3.4M | New |
| CCAP Crescent Capital BDC Inc. | 0.36% | 182,928 | $3.4M | New |
| PRDO Perdoceo Education Corp. | 0.36% | 151,200 | $3.4M | No change |
| PBF PBF Energy Inc. Class A | 0.36% | 106,963 | $3.3M | No change |
| SB Safe Bulkers Inc. | 0.34% | 616,569 | $3.2M | Add +47.4% |
| CASH Pathward Financial Inc. | 0.34% | 48,370 | $3.2M | New |
| CSWC Capital Southwest Corp. | 0.34% | 124,653 | $3.2M | New |
Portfolio Sells Q2 2024 → Q3 2024
| CCS Century Communities Inc. | Sold out | 0.00% | −1.83 |
| DDS Dillards Inc. Class A | Sold out | 0.00% | −1.57 |
| GHC Graham Holdings Co. Class B | Sold out | 0.00% | −1.40 |
| PFSI Pennymac Financial Services | Reduce -42.8% | 0.48% | −1.28 |
| INVA Innoviva Inc. | Reduce -13.5% | 0.79% | −1.18 |
| RYZ Ryerson Holding Corp. | Sold out | 0.00% | −1.14 |
| CNO Cno Financial Group Inc. | Reduce -28.3% | 0.62% | −1.13 |
| FRME First Merchants Corp. | Reduce -10.2% | 0.73% | −1.13 |
| FFBC First Financial Bancorp | Reduce -10.7% | 0.73% | −1.11 |
| JXN Jackson Financial Inc. Class A | Reduce -13.1% | 0.80% | −1.10 |
| ACT Enact Holdings Inc. | Reduce -7.1% | 0.82% | −1.08 |
| SBOW Silverbow Resources Inc. | Sold out | 0.00% | −1.07 |
| VCTR Victory Capital Holding - A | Reduce -70.3% | 0.17% | −1.07 |
| SFNC Simmons First Natl Corp. Class A | Reduce -8.5% | 0.80% | −1.01 |
| BXC Bluelinx Holdings Inc. | Reduce -8.4% | 0.69% | −1.01 |
| NNI Nelnet Inc. Class A | Reduce -1.1% | 0.78% | −1.00 |
| NMRK Newmark Group Inc. Class A | Reduce -23.1% | 0.84% | −0.99 |
| AAMI Acadian Asset Management Inc. | Sold out | 0.00% | −0.97 |
| WSFS WSFS Financial Corp. | Sold out | 0.00% | −0.94 |
| RUSHA Rush Enterprises Inc. Class A | Reduce -5.6% | 0.80% | −0.91 |
| SLVM Sylvamo Corp. | Reduce -0.4% | 0.85% | −0.88 |
| SEM Select Medical Holdings Corp. | Reduce -80.8% | 0.07% | −0.86 |
| HWC Hancock Whitney Corp. | Sold out | 0.00% | −0.83 |
| HTLF Heartland Financial USA Inc. | Sold out | 0.00% | −0.76 |
| HOPE Hope Bancorp Inc. | Reduce -10.2% | 0.42% | −0.60 |
| HOV Hovnanian Enterprises-A | Reduce -49.7% | 0.24% | −0.60 |
| AESI Atlas Energy Solutions Inc. | Sold out | 0.00% | −0.59 |
| GTN Gray Media Inc. | Sold out | 0.00% | −0.51 |
| DNOW Dnow Inc. | Sold out | 0.00% | −0.49 |
| SWBI Smith & Wesson Brands Inc. | Reduce -62.1% | 0.08% | −0.49 |
| SAH Sonic Automotive Inc. Class A | Reduce -14.3% | 0.26% | −0.46 |
| TH Target Hospitality Corp. | Sold out | 0.00% | −0.44 |
| VGR Vector Group Ltd. | Sold out | 0.00% | −0.37 |
| AMKR Amkor Technology Inc. | Sold out | 0.00% | −0.33 |
| MATX Matson Inc. | Sold out | 0.00% | −0.29 |
| HTH Hilltop Holdings Inc. | Reduce -34.4% | 0.10% | −0.28 |
| SMP Standard Motor Prods | Reduce -76.1% | 0.04% | −0.28 |
| PFS Provident Financial Services | Sold out | 0.00% | −0.27 |
| PFG Principal Financial Group | Sold out | 0.00% | −0.23 |
| BKU Bankunited Inc. | Sold out | 0.00% | −0.22 |
| CRBG Corebridge Financial Inc. | Reduce -7.2% | 0.10% | −0.17 |
| PFC Premier Financial Corp. | Reduce -16.5% | 0.10% | −0.16 |
| JOUT Johnson Outdoors Inc. Class A | Reduce -43.7% | 0.05% | −0.16 |
| KOP Koppers Holdings Inc. | Reduce -31.5% | 0.06% | −0.16 |
| MED Medifast Inc. | Sold out | 0.00% | −0.16 |
| TTEC Ttec Holdings Inc. | Sold out | 0.00% | −0.16 |
| GM General Motors Co. | Reduce -3.3% | 0.08% | −0.14 |
| AGR Avangrid Inc. | Sold out | 0.00% | −0.14 |
| BG Bunge Global SA | Reduce -18.2% | 0.06% | −0.14 |
| PAG Penske Automotive Group Inc. | Reduce -11.2% | 0.08% | −0.14 |
Portfolio Buys Q2 2024 → Q3 2024
| MSFT Microsoft Corp. | New | 4.54% | +4.54 |
| NVDA Nvidia Corp. | New | 3.79% | +3.79 |
| AAPL Apple Inc. | New | 3.77% | +3.77 |
| AMZN Amazon.com Inc. | New | 2.45% | +2.45 |
| GOOG Alphabet Inc. Class C | New | 2.12% | +2.12 |
| META Meta Platforms Inc. Class A | New | 2.05% | +2.05 |
| LLY Eli Lilly & Co. | New | 1.48% | +1.48 |
| ARCC Ares Capital Corp. | New | 1.40% | +1.40 |
| OBDC Blue Owl Capital Corp. | New | 1.10% | +1.10 |
| COST Costco Wholesale Corp. | New | 1.08% | +1.08 |
| BXSL Blackstone Secured Lending F | New | 1.06% | +1.06 |
| NFLX Netflix Inc. | New | 1.01% | +1.01 |
| HD Home Depot Inc. | New | 1.00% | +1.00 |
| AVGO Broadcom Inc. | New | 0.99% | +0.99 |
| GBDC Golub Capital BDC Inc. | New | 0.96% | +0.96 |
| MAIN Main Street Capital Corp. | New | 0.91% | +0.91 |
| WMT Walmart Inc. | New | 0.85% | +0.85 |
| V Visa Inc. Class A | New | 0.79% | +0.79 |
| NOW ServiceNow Inc. | New | 0.78% | +0.78 |
| HTGC Hercules Capital Inc. | New | 0.76% | +0.76 |
| PEP Pepsico Inc. | New | 0.75% | +0.75 |
| AMLP Alerian MLP ETF | New | 0.75% | +0.75 |
| FSK FS KKR Capital Corp. | New | 0.70% | +0.70 |
| TGNA Tegna Inc. | Add +787.9% | 0.88% | +0.66 |
| ANET Arista Networks Inc. | New | 0.61% | +0.61 |
| PANW Palo Alto Networks Inc. | New | 0.61% | +0.61 |
| XOM Exxon Mobil Corp. | Add +615.0% | 0.88% | +0.57 |
| INTU Intuit Inc. | New | 0.57% | +0.57 |
| TTEK Tetra Tech Inc. | New | 0.55% | +0.55 |
| WM Waste Management Inc. | New | 0.54% | +0.54 |
| GD General Dynamics Corp. | Add +1171.8% | 0.66% | +0.53 |
| ORCL Oracle Corp. | New | 0.53% | +0.53 |
| BWXT BWX Technologies Inc. | New | 0.52% | +0.52 |
| ATKR Atkore Inc. | New | 0.50% | +0.50 |
| TSLX Sixth Street Specialty Lendi | New | 0.49% | +0.49 |
| TRI Thomson Reuters Corp. | New | 0.48% | +0.48 |
| BLDR Builders Firstsource Inc. | New | 0.47% | +0.47 |
| MAR Marriott International Class A | New | 0.47% | +0.47 |
| SCCO Southern Copper Corp. | Add +1023.2% | 0.59% | +0.47 |
| THC Tenet Healthcare Corp. | New | 0.46% | +0.46 |
| TGT Target Corp. | New | 0.43% | +0.43 |
| COP Conocophillips | New | 0.43% | +0.43 |
| TSLA Tesla Inc. | New | 0.42% | +0.42 |
| VST Vistra Corp. | New | 0.41% | +0.41 |
| STLD Steel Dynamics Inc. | Add +1003.2% | 0.51% | +0.39 |
| MA Mastercard Inc. Class A | New | 0.39% | +0.39 |
| PG The Procter & Gamble Co. | New | 0.38% | +0.38 |
| MCD McDonald's Corp. | New | 0.37% | +0.37 |
| CCAP Crescent Capital BDC Inc. | New | 0.36% | +0.36 |
| CASH Pathward Financial Inc. | New | 0.34% | +0.34 |
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 |