Progeny 3, Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Progeny 3, Inc. reported 30 stock positions worth $1.5 billion. Its top holding was Tic Solutions (TIC) at 11.2% of the portfolio, followed by Cameco (CCJ, 6.6%) and Api (APG, 5.8%). Compared with Q4 2024, it opened 2 new positions, sold out of 4 and added to 15. The biggest buy was a new position in Tic Solutions (TIC) and the biggest sale an exit from Tidewater (TDW).
- Most Recent 13F
- Q2 2026
- Location
- KIRKLAND, WA
- CIK
- 0001536006
- Portfolio Value
- $1.5B (Q1 2025)
- SEC Filing
- 0000899140-25-000701 ↗ filed May 15, 2025
Holdings Value
Holdings 30 stocks · $1.5B
| TIC Tic Solutions Inc. filed as ACUREN CORP | 11.19% | 15,000,000 | $162.6M | New |
| CCJ Cameco Corp. | 6.57% | 2,318,132 | $95.4M | Add +2.2% |
| APG Api Group Corp. | 5.81% | 2,360,525 | $84.4M | No change |
| GFL GFL Environmental Inc.-Sub VT | 5.71% | 1,717,100 | $83.0M | Add +68.6% |
| ARLP Alliance Resource Partners | 5.70% | 3,036,491 | $82.8M | Add +3.2% |
| SSNC Ss&c Technologies Holdings | 5.69% | 989,200 | $82.6M | No change |
| PAR Par Technology Corp. | 5.59% | 1,323,508 | $81.2M | Add +0.2% |
| EPD Enterprise Products Partners | 4.44% | 1,888,034 | $64.5M | Add +0.9% |
| VOO Vanguard S&P 500 ETF | 4.43% | 125,200 | $64.3M | No change |
| MPLX MPLX LP | 3.89% | 1,055,559 | $56.5M | Add +1.8% |
| TSLX Sixth Street Specialty Lendi | 3.78% | 2,452,947 | $54.9M | Add +2.6% |
| IBKR Interactive Brokers Gro Class A | 3.69% | 324,015 | $53.7M | Add +95.2% |
| BTU Peabody Energy Corp. | 3.64% | 3,898,014 | $52.8M | Add +7.7% |
| ARCC Ares Capital Corp. | 3.24% | 2,125,718 | $47.1M | No change |
| IVV iShares Core S&P 500 ETF | 3.05% | 78,769 | $44.3M | No change |
| ET Energy Transfer LP | 3.00% | 2,344,485 | $43.6M | Add +1.6% |
| MLM Martin Marietta Materials | 2.45% | 74,580 | $35.7M | New |
| CZR Caesars Entertainment Inc. | 2.25% | 1,310,300 | $32.8M | No change |
| AEM Agnico Eagle Mines Ltd. | 2.13% | 284,925 | $30.9M | No change |
| NRP Natural Resource Partners LP | 2.08% | 290,180 | $30.1M | Add +104.7% |
| DAKT Daktronics Inc. | 2.07% | 2,470,508 | $30.1M | Add +3.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.95% | 53,239 | $28.4M | No change |
| BXSL Blackstone Secured Lending F | 1.72% | 772,156 | $25.0M | Add +2.5% |
| AGI Alamos Gold Inc. Class A | 1.50% | 813,625 | $21.8M | No change |
| RICK Rci Hospitality Holdings Inc. | 1.36% | 460,968 | $19.8M | No change |
| TECK Teck Resources Ltd.-CLS B | 1.23% | 491,327 | $17.9M | No change |
| AR Antero Resources Corp. | 1.06% | 382,400 | $15.5M | No change |
| GPGI Gpgi Inc. filed as COMPOSECURE INC | 0.55% | 737,000 | $8.0M | Add +97.1% |
| HCC Warrior Met Coal Inc. | 0.20% | 60,035 | $2.9M | No change |
| PRCH Porch Group Inc. | 0.04% | 79,010 | $576K | Add +14.8% |
Portfolio Sells Q4 2024 → Q1 2025
Portfolio Buys Q4 2024 → Q1 2025
| TIC Tic Solutions Inc. | New | 11.19% | +11.19 |
| MLM Martin Marietta Materials | New | 2.45% | +2.45 |
| GFL GFL Environmental Inc.-Sub VT | Add +68.6% | 5.71% | +2.11 |
| IBKR Interactive Brokers Gro Class A | Add +95.2% | 3.69% | +1.36 |
| NRP Natural Resource Partners LP | Add +104.7% | 2.08% | +0.83 |
| GPGI Gpgi Inc. | Add +97.1% | 0.55% | +0.10 |
| PRCH Porch Group Inc. | Add +14.8% | 0.04% | +0.01 |
| MPLX MPLX LP | Add +1.8% | 3.89% | −0.05 |
| BXSL Blackstone Secured Lending F | Add +2.5% | 1.72% | −0.21 |
| EPD Enterprise Products Partners | Add +0.9% | 4.44% | −0.23 |
| TSLX Sixth Street Specialty Lendi | Add +2.6% | 3.78% | −0.27 |
| ARLP Alliance Resource Partners | Add +3.2% | 5.70% | −0.44 |
| ET Energy Transfer LP | Add +1.6% | 3.00% | −0.59 |
| DAKT Daktronics Inc. | Add +3.3% | 2.07% | −1.13 |
| PAR Par Technology Corp. | Add +0.2% | 5.59% | −2.04 |
| BTU Peabody Energy Corp. | Add +7.7% | 3.64% | −2.39 |
| CCJ Cameco Corp. | Add +2.2% | 6.57% | −2.69 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 29 | $1.9B | CCJ, IBKR, APG, TIC, IVV |
| Q1 2026 | 32 | $1.9B | CCJ, IBKR, APG, TIC, IVV |
| Q4 2025 | 37 | $1.9B | CCJ, TIC, IBKR, APG, SSNC |
| Q3 2025 | 34 | $1.9B | CCJ, TIC, IBKR, APG, SSNC |
| Q2 2025 | 30 | $1.8B | CCJ, TIC, APG, IBKR, PAR |
| Q1 2025 | 30 | $1.5B | TIC, CCJ, APG, GFL, ARLP |
| Q4 2024 | 32 | $1.3B | CCJ, PAR, APG, ARLP, BTU |
| Q3 2024 | 34 | $1.2B | CCJ, BTU, APG, ARLP, PAR |
| Q2 2024Amended | 29 | $1.0B | CCJ, BTU, APG, ARLP, VOO |
| Q1 2024 | 26 | $908.8M | CCJ, BTU, APG, STER, VOO |