Marnell Management LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 13, 2026), Marnell Management LLC reported 65 stock positions worth $196.6 million. Its top holding was Star Bulk Carriers (SBLK) at 6.5% of the portfolio, followed by Core Natural Resources (CNR, 5.2%) and DHT (DHT, 4.6%). Compared with Q1 2026, it opened 6 new positions, sold out of 5, added to 36 and reduced 17. The biggest buy was DHT (DHT, shares +618%) and the biggest sale Terawulf (WULF, shares −53%).
- Most Recent 13F
- Q2 2026
- Location
- FARMINGTON HILLS, MI
- CIK
- 0001852314
- Portfolio Value
- $196.6M (Q2 2026)
- SEC Filing
- 0001852314-26-000004 ↗ filed Aug 13, 2026
Holdings Value
Holdings 65 stocks · $196.6M
| SBLK Star Bulk Carriers Corp. | 6.55% | 515,698 | $12.9M | Add +19.9% |
| CNR Core Natural Resources Inc. | 5.24% | 128,778 | $10.3M | Add +74.1% |
| DHT DHT Holdings Inc. | 4.55% | 541,871 | $9.0M | Add +618.3% |
| WULF Terawulf Inc. | 4.08% | 324,991 | $8.0M | Reduce -52.7% |
| TRMD Torm PLC-A | 3.48% | 262,876 | $6.9M | Add +6.1% |
| TDW Tidewater Inc. | 3.34% | 98,490 | $6.6M | Add +78.7% |
| HCC Warrior Met Coal Inc. | 3.28% | 79,511 | $6.5M | Add +42.2% |
| VNO Vornado Realty Trust | 3.12% | 156,292 | $6.1M | Add +9.6% |
| GTX Garrett Motion Inc. | 3.02% | 163,713 | $5.9M | Reduce -10.0% |
| FCNCA First Citizens Bcshs Class A | 2.99% | 2,829 | $5.9M | Add +13.2% |
| DEI Douglas Emmett Inc. | 2.98% | 497,133 | $5.9M | Add +13.9% |
| JBGS JBG Smith Properties | 2.85% | 381,619 | $5.6M | Reduce -15.6% |
| TLN Talen Energy Corp. | 2.84% | 14,551 | $5.6M | Add +9.7% |
| COMP Compass Inc. Class A | 2.65% | 423,302 | $5.2M | Add +55.8% |
| ECO Okeanis Eco Tankers Corp. | 2.45% | 96,294 | $4.8M | Add +80.8% |
| NMM Navios Maritime Partners LP | 2.41% | 67,593 | $4.7M | Add +17.2% |
| ALX Alexander's Inc. | 2.38% | 16,991 | $4.7M | Add +7.3% |
| CMBT CMB Tech NV | 2.21% | 311,109 | $4.4M | Add +121.3% |
| SHW The Sherwin-Williams Co. | 2.20% | 12,593 | $4.3M | Add +34.9% |
| BORR Borr Drilling Ltd. | 1.94% | 922,914 | $3.8M | New |
| NXRT Nexpoint Residential | 1.87% | 131,406 | $3.7M | Reduce -3.1% |
| RIG Transocean Ltd. | 1.84% | 740,270 | $3.6M | Add +118.2% |
| ECHO Echostar Corp. Class A | 1.82% | 35,359 | $3.6M | Add +614.9% |
| EXP Eagle Materials Inc. | 1.72% | 15,039 | $3.4M | Add +26.0% |
| ASC Ardmore Shipping Corp. | 1.68% | 236,122 | $3.3M | Reduce -21.1% |
| CENX Century Aluminum Company | 1.67% | 71,516 | $3.3M | Add +57.9% |
| HSHP Himalaya Shipping Ltd. | 1.48% | 217,162 | $2.9M | Add +32.4% |
| TNK Teekay Tankers Ltd. Class A | 1.46% | 44,391 | $2.9M | Add +88.4% |
| FRO Frontline PLC | 1.43% | 81,081 | $2.8M | Add +36.8% |
| LEN Lennar Corp. Class A | 1.25% | 27,100 | $2.5M | Add +42.6% |
| INSW International Seaways Inc. | 1.24% | 31,939 | $2.4M | Add +29.9% |
| FBIN Fortune Brands Innovations I | 1.24% | 44,500 | $2.4M | Reduce -7.5% |
| NVGS Navigator Holdings Ltd. | 0.94% | 99,545 | $1.9M | Add +99.1% |
| STNG Scorpio Tankers Inc. | 0.87% | 24,726 | $1.7M | Reduce -6.1% |
| METC Ramaco Resources Inc. Class A | 0.82% | 122,165 | $1.6M | Add +3.8% |
| HPP Hudson Pacific Properties Inc. | 0.79% | 102,186 | $1.6M | Reduce -14.1% |
| MLM Martin Marietta Materials | 0.78% | 2,651 | $1.5M | Add +77.8% |
| GLD SPDR Gold Shares | 0.77% | 4,121 | $1.5M | No change |
| HUT Hut 8 Corp. | 0.77% | 13,084 | $1.5M | Reduce -23.7% |
| CORZ Core Scientific Inc. | 0.77% | 58,944 | $1.5M | Reduce -65.4% |
| GLXY Galaxy Digital Inc. Class A | 0.76% | 54,342 | $1.5M | New |
| VAL Valaris Ltd. | 0.70% | 19,075 | $1.4M | Add +11.7% |
| VST Vistra Corp. | 0.69% | 8,542 | $1.4M | New |
| AMR Alpha Metallurgical Resource | 0.66% | 7,817 | $1.3M | Add +154.1% |
| BTU Peabody Energy Corp. | 0.63% | 53,212 | $1.2M | Add +271.8% |
| KKR KKR & Co. Inc. | 0.61% | 13,019 | $1.2M | Add +27.4% |
| CIFR Cipher Digital Inc. | 0.59% | 47,715 | $1.2M | Reduce -76.8% |
| NVR NVR Inc. | 0.56% | 162 | $1.1M | New |
| SHIP Seanergy Maritime Holdings | 0.54% | 78,605 | $1.1M | Add +98.7% |
| GNK Genco Shipping & Trading Ltd. | 0.48% | 38,213 | $947K | Reduce -55.6% |
| BLDR Builders Firstsource Inc. | 0.47% | 10,372 | $928K | Reduce -47.5% |
| QXO Qxo Inc. | 0.47% | 53,092 | $917K | Add +37.2% |
| OPI Office Properties Income Tru | 0.44% | 50,892 | $865K | New |
| MT Arcelormittal-NY Registered | 0.37% | 12,188 | $734K | Reduce -5.4% |
| FRMI Fermi Inc. | 0.34% | 71,965 | $659K | New |
| OC Owens Corning | 0.29% | 3,590 | $571K | No change |
| WLK Westlake Corp. | 0.27% | 7,402 | $540K | Add +94.7% |
| NBIS Nebius Group NV | 0.21% | 1,471 | $406K | Reduce -93.7% |
| WH Wyndham Hotels & Resorts Inc. | 0.20% | 4,647 | $391K | No change |
| CLF Cleveland-Cliffs Inc. | 0.19% | 39,613 | $372K | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.18% | 710 | $355K | No change |
| LEN.B Lennar Corp. Class B | 0.17% | 3,717 | $330K | No change |
| HAFN Hafnia Ltd. | 0.13% | 38,760 | $257K | Reduce -76.5% |
| TEN Tsakos Energy Navigation Ltd. | 0.13% | 7,158 | $253K | Add +25.8% |
| CLSK Cleanspark Inc. | 0.12% | 16,346 | $238K | Reduce -93.6% |
Options reported separately and not counted above: QQQ puts ($58.9M), BWA calls ($1.8M), ECHO calls ($1.5M), HAFN calls ($1.4M).
Portfolio Sells Q1 2026 → Q2 2026
| WULF Terawulf Inc. | Reduce -52.7% | 4.08% | −2.51 |
| JBGS JBG Smith Properties | Reduce -15.6% | 2.85% | −1.54 |
| NBIS Nebius Group NV | Reduce -93.7% | 0.21% | −1.40 |
| ASC Ardmore Shipping Corp. | Reduce -21.1% | 1.68% | −1.35 |
| CLSK Cleanspark Inc. | Reduce -93.6% | 0.12% | −1.32 |
| CIFR Cipher Digital Inc. | Reduce -76.8% | 0.59% | −1.17 |
| CORZ Core Scientific Inc. | Reduce -65.4% | 0.77% | −0.93 |
| GNK Genco Shipping & Trading Ltd. | Reduce -55.6% | 0.48% | −0.81 |
| HAFN Hafnia Ltd. | Reduce -76.5% | 0.13% | −0.70 |
| BLDR Builders Firstsource Inc. | Reduce -47.5% | 0.47% | −0.61 |
| SEG Seaport Entertainment Group | Sold out | 0.00% | −0.46 |
| STNG Scorpio Tankers Inc. | Reduce -6.1% | 0.87% | −0.44 |
| CE Celanese Corp. | Sold out | 0.00% | −0.41 |
| NXRT Nexpoint Residential | Reduce -3.1% | 1.87% | −0.39 |
| OLN Olin Corp. | Sold out | 0.00% | −0.32 |
| CZR Caesars Entertainment Inc. | Sold out | 0.00% | −0.22 |
| WFG West Fraser Timber Co. Ltd. | Sold out | 0.00% | −0.20 |
| MT Arcelormittal-NY Registered | Reduce -5.4% | 0.37% | −0.07 |
| FBIN Fortune Brands Innovations I | Reduce -7.5% | 1.24% | −0.00 |
| HUT Hut 8 Corp. | Reduce -23.7% | 0.77% | +0.23 |
| HPP Hudson Pacific Properties Inc. | Reduce -14.1% | 0.79% | +0.32 |
| GTX Garrett Motion Inc. | Reduce -10.0% | 3.02% | +0.82 |
Portfolio Buys Q1 2026 → Q2 2026
| DHT DHT Holdings Inc. | Add +618.3% | 4.55% | +3.64 |
| BORR Borr Drilling Ltd. | New | 1.94% | +1.94 |
| ECHO Echostar Corp. Class A | Add +614.9% | 1.82% | +1.44 |
| COMP Compass Inc. Class A | Add +55.8% | 2.65% | +1.33 |
| CMBT CMB Tech NV | Add +121.3% | 2.21% | +1.03 |
| GLXY Galaxy Digital Inc. Class A | New | 0.76% | +0.76 |
| VST Vistra Corp. | New | 0.69% | +0.69 |
| ECO Okeanis Eco Tankers Corp. | Add +80.8% | 2.45% | +0.66 |
| VNO Vornado Realty Trust | Add +9.6% | 3.12% | +0.66 |
| NVR NVR Inc. | New | 0.56% | +0.56 |
| OPI Office Properties Income Tru | New | 0.44% | +0.44 |
| RIG Transocean Ltd. | Add +118.2% | 1.84% | +0.35 |
| FRMI Fermi Inc. | New | 0.34% | +0.34 |
| TNK Teekay Tankers Ltd. Class A | Add +88.4% | 1.46% | +0.32 |
| BTU Peabody Energy Corp. | Add +271.8% | 0.63% | +0.31 |
| NVGS Navigator Holdings Ltd. | Add +99.1% | 0.94% | +0.30 |
| TDW Tidewater Inc. | Add +78.7% | 3.34% | +0.28 |
| DEI Douglas Emmett Inc. | Add +13.9% | 2.98% | +0.25 |
| AMR Alpha Metallurgical Resource | Add +154.1% | 0.66% | +0.24 |
| EXP Eagle Materials Inc. | Add +26.0% | 1.72% | +0.22 |
| SHW The Sherwin-Williams Co. | Add +34.9% | 2.20% | +0.22 |
| SHIP Seanergy Maritime Holdings | Add +98.7% | 0.54% | +0.20 |
| MLM Martin Marietta Materials | Add +77.8% | 0.78% | +0.19 |
| LEN Lennar Corp. Class A | Add +42.6% | 1.25% | +0.15 |
| CNR Core Natural Resources Inc. | Add +74.1% | 5.24% | +0.09 |
| FRO Frontline PLC | Add +36.8% | 1.43% | +0.06 |
| INSW International Seaways Inc. | Add +29.9% | 1.24% | +0.05 |
| TLN Talen Energy Corp. | Add +9.7% | 2.84% | +0.03 |
| HSHP Himalaya Shipping Ltd. | Add +32.4% | 1.48% | +0.03 |
| WLK Westlake Corp. | Add +94.7% | 0.27% | −0.02 |
| TEN Tsakos Energy Navigation Ltd. | Add +25.8% | 0.13% | −0.02 |
| KKR KKR & Co. Inc. | Add +27.4% | 0.61% | −0.02 |
| SBLK Star Bulk Carriers Corp. | Add +19.9% | 6.55% | −0.02 |
| QXO Qxo Inc. | Add +37.2% | 0.47% | −0.03 |
| CENX Century Aluminum Company | Add +57.9% | 1.67% | −0.09 |
| ALX Alexander's Inc. | Add +7.3% | 2.38% | −0.11 |
| FCNCA First Citizens Bcshs Class A | Add +13.2% | 2.99% | −0.14 |
| NMM Navios Maritime Partners LP | Add +17.2% | 2.41% | −0.18 |
| HCC Warrior Met Coal Inc. | Add +42.2% | 3.28% | −0.18 |
| METC Ramaco Resources Inc. Class A | Add +3.8% | 0.82% | −0.39 |
| VAL Valaris Ltd. | Add +11.7% | 0.70% | −0.41 |
| TRMD Torm PLC-A | Add +6.1% | 3.48% | −1.11 |
Options Activity Q1 2026 → Q2 2026
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 130,000 | $84.5Mbefore exit |
| QQQ Invesco QQQ Trust Series 1 | put | Add +166.7% | 80,000 | $58.9M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Sold out | 250,000 | $19.9Mbefore exit |
| TRMD Torm PLC-A | call | Sold out | 185,400 | $5.2Mbefore exit |
| DHT DHT Holdings Inc. | call | Sold out | 270,000 | $4.9Mbefore exit |
| ECHO Echostar Corp. Class A | call | New | 15,000 | $1.5M |
| CMBT CMB Tech NV | call | Sold out | 114,600 | $1.4Mbefore exit |
| HAFN Hafnia Ltd. | call | Reduce -28.6% | 214,200 | $1.4M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.