In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Flat Footed LLC reported 10 stock positions worth $237.5 million . Its top holding was Brookdale Senior Living (BKD) at 47.2% of the portfolio, followed by Diversified Healthcare Trust (DHC, 23.7% ) and Core Natural Resources (CNR, 15.3% ). Compared with Q4 2024, it opened 7 new positions, sold out of 3, added to 1 and reduced 1. The biggest buy was a new position in Core Natural Resources (CNR) and the biggest sale an exit from Tidewater (TDW).
Location WILSON, WY
CIK 0001799456
Portfolio Value $237.5M (Q1 2025) Holdings 10 stocks · $237.5M 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 Q4 2024 BKD Brookdale Senior Living Inc. 17,901,402 $112.1M Add +57.0% DHC Diversified Healthcare Trust 23,487,000 $56.4M No change CNR Core Natural Resources Inc. 470,957 $36.3M New GRFS Grifols SA-ADR 1,765,077 $12.5M New ES Eversource Energy 139,934 $8.7M New KODK Eastman Kodak Co. 669,899 $4.2M Reduce -54.4% PARR Par Pacific Holdings Inc. 215,759 $3.1M New HBM Hudbay Minerals Inc. 340,249 $2.6M New RMR RMR Group Inc./the - A 54,232 $903K New NGD New Gold Inc. 186,200 $691K New
Options reported separately and not counted above: WELL puts ($67.3M), CNR calls ($32.6M), HYG puts ($18.3M), TDW calls ($7.4M), TSLA puts ($2.3M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $32.2M (not counted above) Total filed on the 13F, all lines: $269.7M.
Portfolio Sells Q4 2024 → Q1 2025 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 Q4 2024 % Of Portfolio Change To Portfolio ▲ TDW Tidewater Inc. Sold out 0.00% −7.41 KODK Eastman Kodak Co. Reduce -54.4% 1.78% −5.22 CONSOL ENERGY INC Sold out 0.00% −4.07 SMHI Seacor Marine Holdings Inc. Sold out 0.00% −0.59
Portfolio Buys Q4 2024 → Q1 2025 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 Q4 2024 % Of Portfolio Change To Portfolio ▼ CNR Core Natural Resources Inc. New 15.29% +15.29 BKD Brookdale Senior Living Inc. Add +57.0% 47.19% +5.52 GRFS Grifols SA-ADR New 5.28% +5.28 ES Eversource Energy New 3.66% +3.66 PARR Par Pacific Holdings Inc. New 1.30% +1.30 HBM Hudbay Minerals Inc. New 1.09% +1.09 RMR RMR Group Inc./the - A New 0.38% +0.38 NGD New Gold Inc. New 0.29% +0.29
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ GDX Vaneck Gold Miners ETF call Sold out 2,352,100 $79.8Mbefore exit WELL Welltower Inc. put Reduce -40.1% 439,400 $67.3M CNR Core Natural Resources Inc. call New 422,900 $32.6M HYG Ishr Ibx Usd Hiyld CB ETF-Ui put New 232,200 $18.3M TGNA Tegna Inc. put Sold out 774,800 $14.2Mbefore exit CONSOL ENERGY INC call Sold out 71,900 $7.7Mbefore exit TSLA Tesla Inc. put New 9,000 $2.3M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025 Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages 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