In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Flat Footed LLC reported 20 stock positions worth $576.6 million . Its top holding was Diversified Healthcare Trust (DHC) at 37.9% of the portfolio, followed by Core Natural Resources (CNR, 16.2% ) and Service Pptys TR (SVC, 15.0% ). Compared with Q1 2026, it opened 8 new positions, sold out of 2, added to 7 and reduced 4. The biggest buy was Core Natural Resources (CNR, shares +2493% ) and the biggest sale an exit from Brookdale Senior Living (BKD).
Location WILSON, WY
CIK 0001799456
Portfolio Value $576.6M (Q2 2026) Holdings 20 stocks · $576.6M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2026 DHC Diversified Healthcare Trust 23,487,002 $218.4M No change CNR Core Natural Resources Inc. 1,165,762 $93.3M Add +2492.6% SVC Service Pptys TR 51,012,447 $86.2M Add +5883.9% HHH Howard Hughes Holdings Inc. 620,418 $44.4M Add +188.2% GRFS Grifols SA-ADR 4,349,708 $30.8M Add +216.9% TK Teekay Corp. Ltd. 1,768,915 $17.7M Add +9.0% RMR RMR Group Inc./the - A 861,507 $17.7M Add +7.3% ASC Ardmore Shipping Corp. 948,865 $13.3M Reduce -5.6% FISV Fiserv Inc. 240,000 $11.8M New RIG Transocean Ltd. 1,603,778 $7.8M New EQT Eqt Corp. 145,000 $7.7M New FMC FMC Corp. 647,672 $7.4M New SMHI Seacor Marine Holdings Inc. 683,777 $5.2M New SMC Summit Midstream Corp. 158,517 $4.5M Add +27.6% ILPT Industrial Logistics Propert 371,191 $3.3M Reduce -74.1% IAUX I-80 Gold Corp. 1,807,864 $2.6M Reduce -67.4% BTU Peabody Energy Corp. 74,502 $1.7M New OBIO Orchestra Biomed Holdings Inc. 251,372 $1.1M New PANL Pangaea Logistics Solutions 149,806 $974K New SEVN Seven Hills Realty Trust 83,043 $700K Reduce -80.8%
Options reported separately and not counted above: HYG puts ($176.7M), RY puts ($79.7M), CM puts ($67.0M), TD puts ($56.2M), MAR puts ($45.2M), BMO puts ($44.5M), CVNA puts ($40.7M), HLT puts ($38.2M), AFRM puts ($31.8M), KIE puts ($24.6M), IYR puts ($23.5M), RCL puts ($22.9M), and 10 more.
Other holdings (1): bonds, preferreds, convertibles and warrants · $626K (not counted above) Total filed on the 13F, all lines: $577.3M.
Portfolio Sells Q1 2026 → Q2 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▲ BKD Brookdale Senior Living Inc. Sold out 0.00% −10.91 CVEO Civeo Corp. Sold out 0.00% −3.06 ASC Ardmore Shipping Corp. Reduce -5.6% 2.31% −2.81 IAUX I-80 Gold Corp. Reduce -67.4% 0.45% −2.36 ILPT Industrial Logistics Propert Reduce -74.1% 0.57% −2.15 SEVN Seven Hills Realty Trust Reduce -80.8% 0.12% −1.07
Portfolio Buys Q1 2026 → Q2 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▼ CNR Core Natural Resources Inc. Add +2492.6% 16.18% +14.61 SVC Service Pptys TR Add +5883.9% 14.95% +14.57 HHH Howard Hughes Holdings Inc. Add +188.2% 7.69% +3.15 FISV Fiserv Inc. New 2.04% +2.04 GRFS Grifols SA-ADR Add +216.9% 5.34% +1.67 RIG Transocean Ltd. New 1.36% +1.36 EQT Eqt Corp. New 1.34% +1.34 FMC FMC Corp. New 1.29% +1.29 SMHI Seacor Marine Holdings Inc. New 0.91% +0.91 BTU Peabody Energy Corp. New 0.30% +0.30 OBIO Orchestra Biomed Holdings Inc. New 0.19% +0.19 PANL Pangaea Logistics Solutions New 0.17% +0.17 SMC Summit Midstream Corp. Add +27.6% 0.78% −0.47 RMR RMR Group Inc./the - A Add +7.3% 3.07% −1.07 TK Teekay Corp. Ltd. Add +9.0% 3.07% −3.54
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Reduce -15.3% 2,210,000 $176.7M RY Royal Bank of Canada put Add +28.3% 385,000 $79.7M CM Can Imperial BK of Commerce put Add +28.7% 582,500 $67.0M TD Toronto-Dominion Bank put Add +52.9% 462,500 $56.2M PEP Pepsico Inc. put Sold out 295,000 $45.8Mbefore exit BMO Bank of Montreal put Add +48.7% 252,000 $44.5M CVNA Carvana Co. put Add +70.3% 618,000 $40.7M AFRM Affirm Holdings Inc. put New 390,000 $31.8M KIE SS SPDR S&P Insurance ETF put Add +35.5% 403,300 $24.6M IYR iShares US Real Estate ETF put Add +109.1% 230,000 $23.5M RCL Royal Caribbean Cruises Ltd. put Reduce -19.6% 72,000 $22.9M BNS Bank of Nova Scotia put New 232,500 $20.2M TSLA Tesla Inc. put Sold out 32,000 $11.9Mbefore exit VAC Marriott Vacations World put New 70,000 $7.1M LOPE Grand Canyon Education Inc. put Sold out 40,000 $6.8Mbefore exit PFGC Performance Food Group Co. put Reduce -45.0% 55,000 $6.1M RRR Red Rock Resorts Inc. Class A put Sold out 55,000 $2.9Mbefore exit PRDO Perdoceo Education Corp. put Reduce -60.2% 29,800 $954K STRA Strategic Education Inc. put Reduce -72.5% 5,500 $421K CTRE Caretrust REIT Inc. put Sold out 7,500 $275Kbefore exit
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 $576.6M DHC, CNR, SVC, HHH, GRFS Q1 2026 14 $299.8M DHC, BKD, TK, ASC, HHH Q4 2025 14 $424.5M CNR, DHC, BKD, TK, ASC Q3 2025 16 $492.2M CNR, BKD, DHC, MATX, JBS Q2 2025 13 $337.6M BKD, DHC, CNR, GRFS, JBS Q1 2025 10 $237.5M BKD, DHC, CNR, GRFS, ES Q4 2024 6 $137.6M BKD, DHC, TDW, KODK, CONSOL ENERGY INC Q3 2024 5 $170.6M DHC, BKD, KODK, CONSOL ENERGY INC, SMHI Q2 2024 7 $211.8M DHC, GRFS, BKD, KODK, SMHI Q1 2024 5 $150.4M DHC, GRFS, BKD, SMHI, VTR