Forest Avenue Capital Management LP In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Forest Avenue Capital Management LP reported 15 stock positions worth $732.2 million . Its top holding was Carpenter Technology (CRS) at 13.6% of the portfolio, followed by Constellation Energy (CEG, 11.1% ) and Vistra (VST, 9.5% ). Compared with Q4 2024, it opened 4 new positions, sold out of 10, added to 6 and reduced 5. The biggest buy was Carpenter Technology (CRS, shares +82% ) and the biggest sale an exit from Amazon.com (AMZN).
Location MIAMI, FL
CIK 0001944889
Portfolio Value $732.2M (Q1 2025) Holdings 15 stocks · $732.2M 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 CRS Carpenter Technology 548,067 $99.3M Add +81.8% CEG Constellation Energy 401,705 $81.0M Reduce -7.6% VST Vistra Corp. 592,760 $69.6M Add +12.3% CNM Core & Main Inc. Class A 1,372,534 $66.3M Add +10.7% RCL Royal Caribbean Cruises Ltd. 283,127 $58.2M Add +71.2% VIK Viking Holdings Ltd. 1,437,941 $57.2M Reduce -24.2% XPO Xpo Inc. 470,917 $50.7M Reduce -15.5% BBWI Bath & Body Works Inc. 1,660,961 $50.4M Reduce -18.8% SGI Somnigroup International Inc. 761,460 $45.6M New ATI Ati Inc. 862,334 $44.9M New MATX Matson Inc. 274,334 $35.2M Add +18.2% HCC Warrior Met Coal Inc. 651,650 $31.1M Add +19.5% X United States Steel Corp. 470,500 $19.9M Reduce -68.5% ODFL Old Dominion Freight Line 93,900 $15.5M New CRWV Coreweave Inc. Class A 202,140 $7.5M New
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 ▲ AMZN Amazon.com Inc. Sold out 0.00% −9.73 WMT Walmart Inc. Sold out 0.00% −4.98 GNRC Generac Holdings Inc. Sold out 0.00% −4.64 VSXY Victoria's Secret & Co. Sold out 0.00% −4.60 DAL Delta Air Lines Inc. Sold out 0.00% −4.55 APP AppLovin Corp. Class A Sold out 0.00% −2.79 X United States Steel Corp. Reduce -68.5% 2.72% −2.06 GEO The Geo Group Inc. Sold out 0.00% −1.90 UAL United Airlines Holdings Inc. Sold out 0.00% −1.58 RRX Regal Rexnord Corp. Sold out 0.00% −1.19 CXW Corecivic Inc. Sold out 0.00% −1.05 BBWI Bath & Body Works Inc. Reduce -18.8% 6.88% −0.57 VIK Viking Holdings Ltd. Reduce -24.2% 7.81% −0.05 XPO Xpo Inc. Reduce -15.5% 6.92% +0.05 CEG Constellation Energy Reduce -7.6% 11.06% +1.92
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 ▼ CRS Carpenter Technology Add +81.8% 13.56% +8.75 SGI Somnigroup International Inc. New 6.23% +6.23 ATI Ati Inc. New 6.13% +6.13 RCL Royal Caribbean Cruises Ltd. Add +71.2% 7.94% +4.36 CNM Core & Main Inc. Class A Add +10.7% 9.06% +3.12 VST Vistra Corp. Add +12.3% 9.51% +2.67 ODFL Old Dominion Freight Line New 2.12% +2.12 MATX Matson Inc. Add +18.2% 4.80% +1.86 HCC Warrior Met Coal Inc. Add +19.5% 4.25% +1.47 CRWV Coreweave Inc. Class A New 1.02% +1.02
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ XPO Xpo Inc. call Sold out 225,000 $29.5Mbefore 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 24 $2.4B VST, VIK, MAIR, DPC, WWD Q1 2026 25 $1.6B VST, VIK, CRS, QXO, CNM Q4 2025 22 $1.5B VIK, CRS, VST, MTZ, WWD Q3 2025 21 $1.3B VIK, CRS, VST, MTZ, QXO Q2 2025 17 $1.3B VIK, VST, CRS, XPO, CNM Q1 2025 15 $732.2M CRS, CEG, VST, CNM, RCL Q4 2024 21 $1.1B AMZN, CEG, VIK, BBWI, XPO Q3 2024 21 $823.7M CEG, VST, VIK, CNM, BBWI Q2 2024 22 $722.4M VIK, BBWI, CNM, VST, WMT Q1 2024 19 $406.9M CNM, SGI, BBWI, VST, FRO