Forest Avenue Capital Management LP In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Forest Avenue Capital Management LP reported 25 stock positions worth $1.6 billion . Its top holding was Vistra (VST) at 12.3% of the portfolio, followed by Viking (VIK, 9.5% ) and Carpenter Technology (CRS, 9.3% ). Compared with Q4 2025, it opened 12 new positions, sold out of 9, added to 6 and reduced 7. The biggest buy was a new position in Everus Construction (ECG) and the biggest sale an exit from Royal Caribbean Cruises (RCL).
Location MIAMI, FL
CIK 0001944889
Portfolio Value $1.6B (Q1 2026) Holdings 25 stocks · $1.6B 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 2025 VST Vistra Corp. 1,297,325 $195.0M Add +15.7% VIK Viking Holdings Ltd. 2,037,215 $149.7M Reduce -28.9% CRS Carpenter Technology 375,012 $147.8M Reduce -40.5% QXO Qxo Inc. 4,622,783 $89.8M Add +23.8% CNM Core & Main Inc. Class A 1,808,055 $89.3M Reduce -3.8% PARR Par Pacific Holdings Inc. 1,417,079 $88.8M Add +79.0% MTZ Mastec Inc. 269,851 $86.8M Reduce -45.4% ECG Everus Construction Group 715,285 $84.4M New WWD Woodward Inc. 222,073 $79.5M Reduce -35.6% SGI Somnigroup International Inc. 1,012,181 $74.8M Add +45.5% BTU Peabody Energy Corp. 1,646,362 $54.2M Add +40.2% LNG Cheniere Energy Inc. 172,200 $48.9M New RRX Regal Rexnord Corp. 239,217 $44.8M New AGX Argan Inc. 74,456 $40.6M Reduce -59.8% CEG Constellation Energy 133,666 $37.3M New NCLH Norwegian Cruise Line Holdin 1,973,232 $36.9M New LEG Leggett & Platt Inc. 3,702,389 $36.6M Add +200.1% VG Venture Global Inc. Class A 2,034,886 $32.1M New AR Antero Resources Corp. 748,300 $31.8M New HII Huntington Ingalls Industrie 82,809 $31.5M New DK Delek US Holdings Inc. 653,830 $29.5M New WULF Terawulf Inc. 1,970,984 $28.4M New HCC Warrior Met Coal Inc. 285,838 $26.6M Reduce -29.9% CNR Core Natural Resources Inc. 151,500 $15.9M New NVX Novonix Limited 1,199,398 $828K New
Options reported separately and not counted above: QQQ puts ($103.9M).
Portfolio Sells Q4 2025 → Q1 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 Q4 2025 % Of Portfolio Change To Portfolio ▲ RCL Royal Caribbean Cruises Ltd. Sold out 0.00% −5.33 XPO Xpo Inc. Sold out 0.00% −4.18 VIK Viking Holdings Ltd. Reduce -28.9% 9.46% −4.00 CRS Carpenter Technology Reduce -40.5% 9.34% −3.72 BBWI Bath & Body Works Inc. Sold out 0.00% −2.93 FSLR First Solar Inc. Sold out 0.00% −1.99 WWD Woodward Inc. Reduce -35.6% 5.03% −1.84 LBRT Liberty Energy Inc. Sold out 0.00% −1.68 TLN Talen Energy Corp. Sold out 0.00% −1.65 KNX Knight-Swift Transportation Sold out 0.00% −1.62 MTZ Mastec Inc. Reduce -45.4% 5.49% −1.58 AGX Argan Inc. Reduce -59.8% 2.56% −1.26 PUMP Propetro Holding Corp. Sold out 0.00% −0.96 CNM Core & Main Inc. Class A Reduce -3.8% 5.65% −0.79 FRO Frontline PLC Sold out 0.00% −0.78 HCC Warrior Met Coal Inc. Reduce -29.9% 1.68% −0.68
Portfolio Buys Q4 2025 → Q1 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 Q4 2025 % Of Portfolio Change To Portfolio ▼ ECG Everus Construction Group New 5.34% +5.34 PARR Par Pacific Holdings Inc. Add +79.0% 5.61% +3.78 LNG Cheniere Energy Inc. New 3.09% +3.09 RRX Regal Rexnord Corp. New 2.83% +2.83 CEG Constellation Energy New 2.36% +2.36 NCLH Norwegian Cruise Line Holdin New 2.33% +2.33 VG Venture Global Inc. Class A New 2.03% +2.03 AR Antero Resources Corp. New 2.01% +2.01 HII Huntington Ingalls Industrie New 1.99% +1.99 DK Delek US Holdings Inc. New 1.86% +1.86 WULF Terawulf Inc. New 1.80% +1.80 LEG Leggett & Platt Inc. Add +200.1% 2.31% +1.42 BTU Peabody Energy Corp. Add +40.2% 3.43% +1.13 CNR Core Natural Resources Inc. New 1.00% +1.00 QXO Qxo Inc. Add +23.8% 5.68% +0.93 SGI Somnigroup International Inc. Add +45.5% 4.73% +0.64 VST Vistra Corp. Add +15.7% 12.33% +0.41 NVX Novonix Limited New 0.05% +0.05
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ QQQ Invesco QQQ Trust Series 1 put New 180,000 $103.9M
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