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Brandywine Global Investment Management, LLC

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13F filer, CIK 829108, PHILADELPHIA, PA

Brandywine Global Investment Management, LLC reported $14,911,914,746 across 601 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-11. Its ten largest share positions make up 20.24% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000829108-26-000001

Period
2025-12-31
Reported value
$14.9B
Holdings
601
Top 10 weight
20.24%
New
70
Sold out
67

Part of the filer group Franklin Resources

How groups are built

Stakes and trades reported after 2025-12-31

13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.

  • CLARION PARTNERS REAL ESTATE INCOME FUN…: 13D/A 93,329 shares, 66.6% of the class, 13D/A filed 2026-10-02, 0000038777-26-000256
    Accepted , ingested
  • FRANKLIN BSP PRIVATE CREDIT ADVISOR: 13D/A 6,597,084 shares, 60.3% of the class, 13D/A filed 2026-09-28, 0000038777-26-000255
    Accepted , ingested

Largest buys vs the previous quarter

SecurityShares changeApprox. value
MRKadded+818,978$86.2M
GSadded+84,744$74.5M
FDXadded+225,856$65.2M
PEPadded+414,393$59.5M
SWnew+1,404,000$53.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
GMreduced-1,481,772-$120M
ABBVexited-496,675-$115M
CSCOreduced-1,390,709-$107M
DEexited-216,680-$99.1M
MUreduced-318,439-$90.9M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0000829108-26-000001, largest first. % of portfolio is the value over $14,911,914,746, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ETDETHAN ALLEN INTERIORS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 78,368 shares; 2024Q4: 74,964 shares; 2025Q1: 72,054 shares; 2025Q2: 69,454 shares; 2025Q3: 66,954 shares; 2025Q4: 64,554 shares 64,554$1.47M0.01%-2,400Timeline
HRLHORMEL FOODS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,600 shares; 2024Q4: 69,700 shares; 2025Q1: 63,850 shares; 2025Q2: 62,650 shares; 2025Q3: 62,560 shares; 2025Q4: 61,176 shares 61,176$1.45M0.01%-1,384Timeline
SJMSMUCKER J M COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 15,008 shares; 2025Q4: 14,708 shares 14,708$1.44M0.01%-300Timeline
FRMEFIRST MERCHANTS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 45,379 shares; 2024Q4: 43,270 shares; 2025Q1: 41,760 shares; 2025Q2: 40,261 shares; 2025Q3: 38,873 shares; 2025Q4: 37,695 shares 37,695$1.41M0.01%-1,178Timeline
TITNTITAN MACHY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 36,292 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 100,930 shares; 2025Q3: 97,430 shares; 2025Q4: 93,930 shares 93,930$1.41M0.01%-3,500Timeline
ACICAMERICAN COASTAL INS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 98,000 shares; 2025Q1: 94,200 shares; 2025Q2: 90,700 shares; 2025Q3: 98,350 shares; 2025Q4: 111,470 shares 111,470$1.41M0.01%+13,120Timeline
TRMKTRUSTMARK CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,154 shares; 2024Q4: 23,154 shares; 2025Q1: 22,143 shares; 2025Q2: 24,444 shares; 2025Q3: 30,587 shares; 2025Q4: 36,029 shares 36,029$1.4M0.01%+5,442Timeline
TRSTTRUSTCO BK CORP N YQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 121,035 shares; 2024Q4: 39,032 shares; 2025Q1: 37,522 shares; 2025Q2: 36,222 shares; 2025Q3: 34,922 shares; 2025Q4: 33,722 shares 33,722$1.39M0.01%-1,200Timeline
SMBCSOUTHERN MO BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,939 shares; 2024Q4: 26,939 shares; 2025Q1: 25,832 shares; 2025Q2: 24,932 shares; 2025Q3: 24,032 shares; 2025Q4: 23,232 shares 23,232$1.37M0.01%-800Timeline
SWKSSKYWORKS SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 89,350 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 21,731 shares; 2025Q4: 21,477 shares 21,477$1.36M0.01%-254Timeline
FBNCFIRST BANCORP N CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 28,937 shares; 2025Q2: 27,961 shares; 2025Q3: 26,956 shares; 2025Q4: 26,156 shares 26,156$1.33M0.01%-800Timeline
BANRBANNER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,607 shares 20,607$1.29M0.01%newTimeline
HZOMARINEMAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 78,411 shares; 2024Q4: 75,010 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 54,340 shares; 2025Q4: 52,240 shares 52,240$1.27M0.01%-2,100Timeline
KOPKOPPERS HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 51,832 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 40,860 shares; 2025Q4: 44,880 shares 44,880$1.22M0.01%+4,020Timeline
BCHBANCO DE CHILEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 94,278 shares; 2024Q4: 136,418 shares; 2025Q1: 25,791 shares; 2025Q2: 30,131 shares; 2025Q3: 30,131 shares; 2025Q4: 29,731 shares 29,731$1.13M0.01%-400Timeline
CLNECLEAN ENERGY FUELS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 556,250 shares; 2025Q4: 536,750 shares 536,750$1.13M0.01%-19,500Timeline
CVLGCOVENANT LOGISTICS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,076 shares; 2024Q4: 28,876 shares; 2025Q1: 55,838 shares; 2025Q2: 54,138 shares; 2025Q3: 52,438 shares; 2025Q4: 50,838 shares 50,838$1.12M0.01%-1,600Timeline
DGICADONEGAL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 67,900 shares; 2024Q4: 64,900 shares; 2025Q1: 62,300 shares; 2025Q2: 60,000 shares; 2025Q3: 57,900 shares; 2025Q4: 55,900 shares 55,900$1.12M0.01%-2,000Timeline
VREXVAREX IMAGING CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 94,940 shares 94,940$1.11M0.01%newTimeline
CYRXCRYOPORT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 114,390 shares 114,390$1.1M0.01%newTimeline
SIGASIGA TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 181,630 shares; 2025Q4: 175,030 shares 175,030$1.07M0.01%-6,600Timeline
BFSTBUSINESS FIRST BANCSHARES INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 49,071 shares; 2024Q4: 46,771 shares; 2025Q1: 44,961 shares; 2025Q2: 43,461 shares; 2025Q3: 41,861 shares; 2025Q4: 40,361 shares 40,361$1.06M0.01%-1,500Timeline
STELSTELLAR BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 37,386 shares; 2025Q2: 36,186 shares; 2025Q3: 34,893 shares; 2025Q4: 33,871 shares 33,871$1.05M0.01%-1,022Timeline
VLGEAVILLAGE SUPER MKT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,817 shares; 2024Q4: 33,317 shares; 2025Q1: 31,907 shares; 2025Q2: 30,707 shares; 2025Q3: 29,707 shares; 2025Q4: 28,607 shares 28,607$1.01M0.01%-1,100Timeline
OBKORIGIN BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 32,409 shares; 2024Q4: 30,909 shares; 2025Q1: 29,709 shares; 2025Q2: 28,809 shares; 2025Q3: 27,801 shares; 2025Q4: 26,901 shares 26,901$1.01M0.01%-900Timeline
FMNBFARMERS NATIONAL BANC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,965 shares; 2024Q4: 88,965 shares; 2025Q1: 85,455 shares; 2025Q2: 81,955 shares; 2025Q3: 78,855 shares; 2025Q4: 75,755 shares 75,755$1.01M0.01%-3,100Timeline
MHKMOHAWK INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,799 shares; 2024Q4: 38,675 shares; 2025Q1: 36,254 shares; 2025Q2: not reported; 2025Q3: 9,149 shares; 2025Q4: 9,111 shares 9,111$996K0.01%-38Timeline
JOUTJOHNSON OUTDOORS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,100 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 23,175 shares; 2025Q4: 22,375 shares 22,375$950K0.01%-800Timeline
SMBKSMARTFINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,668 shares; 2024Q4: 27,668 shares; 2025Q1: 26,659 shares; 2025Q2: 25,959 shares; 2025Q3: 25,359 shares; 2025Q4: 24,559 shares 24,559$908K0.01%-800Timeline
BZHBEAZER HOMES USA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 110,892 shares; 2024Q4: 105,982 shares; 2025Q1: 102,172 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 44,310 shares 44,310$898K0.01%newTimeline
BHBBAR HBR BANKSHARESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,768 shares; 2024Q4: 33,068 shares; 2025Q1: 31,658 shares; 2025Q2: 30,458 shares; 2025Q3: 29,658 shares; 2025Q4: 28,458 shares 28,458$884K0.01%-1,200Timeline
MTWMANITOWOC CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 616,830 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 62,250 shares; 2025Q3: 75,890 shares; 2025Q4: 73,190 shares 73,190$878K0.01%-2,700Timeline
HOPEHOPE BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 488,431 shares; 2024Q4: not reported; 2025Q1: 84,464 shares; 2025Q2: 81,764 shares; 2025Q3: 79,564 shares; 2025Q4: 79,024 shares 79,024$866K0.01%-540Timeline
SWBISMITH & WESSON BRANDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 84,090 shares 84,090$830K0.01%newTimeline
DINDINE BRANDS GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 23,950 shares 23,950$770K0.01%newTimeline
IBCPINDEPENDENT BK CORP MICHQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,638 shares; 2024Q4: 26,438 shares; 2025Q1: 25,438 shares; 2025Q2: 24,838 shares; 2025Q3: 24,238 shares; 2025Q4: 23,538 shares 23,538$766K0.01%-700Timeline
ABEVAMBEV SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,733,447 shares; 2024Q4: 18,614,210 shares; 2025Q1: 17,595,463 shares; 2025Q2: 17,187,221 shares; 2025Q3: 16,868,888 shares; 2025Q4: 308,950 shares 308,950$763K0.01%-16,559,938Timeline
LEGLEGGETT & PLATT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 68,646 shares; 2025Q4: 65,346 shares 65,346$719K<0.01%-3,300Timeline
CRUSCIRRUS LOGIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 5,875 shares 5,875$696K<0.01%newTimeline
OCFCOCEANFIRST FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 67,670 shares; 2024Q4: not reported; 2025Q1: 41,023 shares; 2025Q2: 39,561 shares; 2025Q3: 38,861 shares; 2025Q4: 38,004 shares 38,004$682K<0.01%-857Timeline
DCOMDIME COML BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,890 shares 20,890$629K<0.01%newTimeline
FMCFMC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,619,475 shares; 2024Q4: 1,861,057 shares; 2025Q1: 2,284,267 shares; 2025Q2: 2,319,037 shares; 2025Q3: 2,280,846 shares; 2025Q4: 42,476 shares 42,476$589K<0.01%-2,238,370Timeline
BHRBBURKE HERBERT FINL SVCS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 9,150 shares 9,150$570K<0.01%newTimeline
UVSPUNIVEST FINANCIAL CORPORATIOQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 14,766 shares; 2025Q4: 16,956 shares 16,956$555K<0.01%+2,190Timeline
SBSISOUTHSIDE BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 18,017 shares 18,017$548K<0.01%newTimeline
NBBKNB BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 27,470 shares 27,470$544K<0.01%newTimeline
CFFNCAPITOL FED FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 26,810 shares; 2025Q3: 67,910 shares; 2025Q4: 79,040 shares 79,040$538K<0.01%+11,130Timeline
NRIMNORTHRIM BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,549 shares; 2025Q3: 18,996 shares; 2025Q4: 20,096 shares 20,096$535K<0.01%+1,100Timeline
RMREGIONAL MGMT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 13,280 shares; 2025Q3: 14,000 shares; 2025Q4: 13,600 shares 13,600$527K<0.01%-400Timeline
CPFCENTRAL PAC FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 109,084 shares; 2024Q4: 17,586 shares; 2025Q1: 16,876 shares; 2025Q2: 16,276 shares; 2025Q3: 15,976 shares; 2025Q4: 16,756 shares 16,756$522K<0.01%+780Timeline
EQBKEQUITY BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 9,870 shares; 2025Q4: 11,600 shares 11,600$518K<0.01%+1,730Timeline
HAFCHANMI FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 15,390 shares; 2025Q4: 18,190 shares 18,190$492K<0.01%+2,800Timeline
TCBXTHIRD COAST BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,390 shares; 2025Q1: 6,390 shares; 2025Q2: 7,590 shares; 2025Q3: 11,790 shares; 2025Q4: 12,390 shares 12,390$471K<0.01%+600Timeline
HTBKHERITAGE COMM CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 12,370 shares; 2025Q3: 31,310 shares; 2025Q4: 36,730 shares 36,730$441K<0.01%+5,420Timeline
HBNCHORIZON BANCORP INDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 122,600 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 26,210 shares; 2025Q4: 25,610 shares 25,610$434K<0.01%-600Timeline
OMFONEMAIN HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 187,674 shares; 2024Q4: 186,601 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 6,408 shares 6,408$433K<0.01%newTimeline
THFFFIRST FINANCIAL CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 6,050 shares; 2025Q4: 7,130 shares 7,130$431K<0.01%+1,080Timeline
MPBMID PENN BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 11,780 shares; 2025Q4: 13,840 shares 13,840$429K<0.01%+2,060Timeline
ORRFORRSTOWN FINL SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11,710 shares 11,710$415K<0.01%newTimeline
MUMICRON TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 280,715 shares; 2024Q4: 280,737 shares; 2025Q1: 410,118 shares; 2025Q2: 449,929 shares; 2025Q3: 319,860 shares; 2025Q4: 1,421 shares 1,421$406K<0.01%-318,439Timeline
OISOIL STS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 47,410 shares; 2025Q2: 57,410 shares; 2025Q3: 57,410 shares; 2025Q4: 57,410 shares 57,410$389K<0.01%0Timeline
FISIFINANCIAL INSTITUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,290 shares; 2025Q4: 12,230 shares 12,230$381K<0.01%+1,940Timeline
SHBISHORE BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 16,980 shares; 2025Q4: 20,020 shares 20,020$354K<0.01%+3,040Timeline
VNDAVANDA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,570 shares; 2024Q4: 39,390 shares; 2025Q1: 39,390 shares; 2025Q2: 39,390 shares; 2025Q3: 39,390 shares; 2025Q4: 39,390 shares 39,390$347K<0.01%0Timeline
AROWARROW FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 8,380 shares; 2025Q4: 10,100 shares 10,100$317K<0.01%+1,720Timeline
CWBCCOMMUNITY WEST BANCSHARES NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 14,055 shares 14,055$316K<0.01%newTimeline
NGSNATURAL GAS SVCS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 9,385 shares; 2025Q1: 9,385 shares; 2025Q2: 9,385 shares; 2025Q3: 9,385 shares; 2025Q4: 9,385 shares 9,385$316K<0.01%0Timeline
RNGRRANGER ENERGY SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,780 shares; 2024Q4: 13,180 shares; 2025Q1: 16,840 shares; 2025Q2: 21,390 shares; 2025Q3: 21,390 shares; 2025Q4: 21,390 shares 21,390$299K<0.01%0Timeline
BWBBRIDGEWATER BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 14,010 shares; 2025Q4: 16,710 shares 16,710$293K<0.01%+2,700Timeline
CIVBCIVISTA BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 12,701 shares 12,701$282K<0.01%newTimeline
NBHCNATIONAL BK HLDGS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 7,786 shares; 2025Q3: 7,686 shares; 2025Q4: 7,386 shares 7,386$281K<0.01%-300Timeline
VPGVISHAY PRECISION GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 7,020 shares; 2025Q4: 7,020 shares 7,020$270K<0.01%0Timeline
BSRRSIERRA BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,992 shares; 2025Q1: not reported; 2025Q2: 8,192 shares; 2025Q3: 8,192 shares; 2025Q4: 8,192 shares 8,192$268K<0.01%0Timeline
CVXCHEVRON CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,591,694 shares; 2024Q4: 1,453,884 shares; 2025Q1: 874,436 shares; 2025Q2: 841,176 shares; 2025Q3: 286,490 shares; 2025Q4: 1,646 shares 1,646$251K<0.01%-284,844Timeline
FGF&G ANNUITIES & LIFE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 7,834 shares 7,834$242K<0.01%newTimeline
NFBKNORTHFIELD BANCORP INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 21,330 shares; 2025Q4: 20,630 shares 20,630$236K<0.01%-700Timeline
KRNYKEARNY FINL CORP MDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 13,050 shares; 2025Q3: 12,950 shares; 2025Q4: 31,550 shares 31,550$234K<0.01%+18,600Timeline
QUADQUAD / GRAPHICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 18,100 shares; 2024Q4: 23,080 shares; 2025Q1: 29,630 shares; 2025Q2: 34,700 shares; 2025Q3: 34,700 shares; 2025Q4: 34,700 shares 34,700$218K<0.01%0Timeline
ONITONITY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 4,570 shares 4,570$209K<0.01%newTimeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 744 shares 744$202K<0.01%newTimeline
PDLBPONCE FINANCIAL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,360 shares; 2024Q4: 11,360 shares; 2025Q1: 11,360 shares; 2025Q2: 11,360 shares; 2025Q3: 11,360 shares; 2025Q4: 11,360 shares 11,360$186K<0.01%0Timeline
WSBFWATERSTONE FINL INC MDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 108,971 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,670 shares; 2025Q4: 10,670 shares 10,670$177K<0.01%0Timeline
JRVRJAMES RIV GROUP HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 26,170 shares 26,170$166K<0.01%newTimeline
AMCXAMC GLOBAL MEDIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 16,600 shares 16,600$158K<0.01%newTimeline
HDSNHUDSON TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 22,600 shares 22,600$155K<0.01%newTimeline
RYAMRAYONIER ADVANCED MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 226,500 shares; 2024Q4: 216,600 shares; 2025Q1: 240,080 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 23,330 shares 23,330$137K<0.01%newTimeline
PBYIPUMA BIOTECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 21,800 shares 21,800$130K<0.01%newTimeline
MPAAMOTORCAR PTS AMER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 10,180 shares 10,180$126K<0.01%newTimeline
CIACITIZENS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,320 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 17,480 shares 17,480$84.4K<0.01%newTimeline
IWSISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 53 shares; 2024Q4: 268 shares; 2025Q1: 615 shares; 2025Q2: 589 shares; 2025Q3: 489 shares; 2025Q4: 247 shares 247$34.8K<0.01%-242Timeline
IWNISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,060 shares; 2025Q1: not reported; 2025Q2: 25,080 shares; 2025Q3: 60,713 shares; 2025Q4: 151 shares 151$27.4K<0.01%-60,562Timeline
IVEISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 461 shares; 2024Q4: 461 shares; 2025Q1: 559 shares; 2025Q2: 515 shares; 2025Q3: 488 shares; 2025Q4: 51 shares 51$10.8K<0.01%-437Timeline
SNAPSNAP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 628 shares; 2025Q4: 1,212 shares 1,212$9.78K<0.01%+584Timeline
ECHOECHOSTAR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 789 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 21 shares 21$2.28K<0.01%newTimeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
ECHOSTAR CORPECHOSTAR CORP NOTE 3.875%11/3principal24,218,011$80.9M+4,077,006
CABLE ONE INCCABLE ONE INC NOTEprincipal70,351,000$57.4M0
GLOBAL PMTS INCGLOBAL PMTS INC NOTE 1.500% 3/0principal26,505,000$23.8M-110,000
SNAP INCSNAP INC Convertibleprincipal19,500,000$17.1M0
WINNEBAGO INDS INCWINNEBAGO INDS INC NOTE 3.250% 1/1principal7,966,000$7.5M-5,000,000
AIRBNB INCAIRBNB INC CLASS Aprincipal6,250,000$6.2M0
BLOCK INCBLOCK INC NOTE 0.250%11/0principal2,000,000$1.85M0

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ABBVABBVIE INC496,675$115Mshares
DEDEERE & CO216,680$99.1Mshares
CRHCRH PLC441,772$53.3Mshares
NSCNORFOLK SOUTHN CORP136,434$41Mshares
APOAPOLLO GLOBAL MGMT INC276,854$36.9Mshares
OGNORGANON & CO2,214,334$23.6Mshares
MGMMGM RESORTS INTERNATIONAL675,415$23.4Mshares
AMATAPPLIED MATLS INC110,431$22.6Mshares
CAHCARDINAL HEALTH INC142,524$22.4Mshares
SEESEALED AIR CORP NEW598,798$21.2Mshares
TRGPTARGA RES CORP92,087$15.4Mshares
CLFCLEVELAND-CLIFFS INC NEW1,256,507$15.3Mshares
KVUEKENVUE INC900,211$14.6Mshares
PFSIPENNYMAC FINL SVCS INC NEW108,431$13.4Mshares
CGCARLYLE GROUP INC212,622$13.3Mshares
HBANHUNTINGTON BANCSHARES INC711,563$12.3Mshares
ENCORE CAP GROUP INCENCORE CAP GROUP INC12,375,000$12.3Mprincipal
EXPDEXPEDITORS INTL WASH INC96,058$11.8Mshares
HCCWARRIOR MET COAL INC159,369$10.1Mshares
CPAYCORPAY INC33,855$9.75Mshares
VACMARRIOTT VACATIONS WORLDWIDE143,543$9.55Mshares
TAPMOLSON COORS BEVERAGE CO180,644$8.17Mshares
BHFBRIGHTHOUSE FINL INC147,402$7.82Mshares
APTVAPTIV PLC88,047$7.59Mshares
ENRENERGIZER HLDGS INC304,045$7.57Mshares
CNXCCONCENTRIX CORP160,173$7.39Mshares
KMPRKEMPER CORP136,011$7.01Mshares
DVADAVITA INC52,761$7.01Mshares
EMNEASTMAN CHEM CO107,958$6.81Mshares
ROIVROIVANT SCIENCES LTD443,469$6.71Mshares
DCIDONALDSON INC81,511$6.67Mshares
CLVTCLARIVATE PLC1,707,440$6.54Mshares
JEFJEFFERIES FINANCIAL GROUP IN98,801$6.46Mshares
PRGOPERRIGO CO PLC280,538$6.25Mshares
HRBBLOCK H & R INC121,600$6.15Mshares
UHAL-BU HAUL HOLDING COMPANY116,436$5.93Mshares
LULULULULEMON ATHLETICA INC30,768$5.47Mshares
OGEOGE ENERGY CORP114,421$5.29Mshares
LKQLKQ CORP170,523$5.21Mshares
ALGTALLEGIANT TRAVEL CO77,284$4.7Mshares
CLXCLOROX CO DEL33,119$4.08Mshares
VSHVISHAY INTERTECHNOLOGY INC252,046$3.86Mshares
UPBDUPBOUND GROUP INC149,476$3.53Mshares
PLABPHOTRONICS INC152,743$3.51Mshares
MTNVAIL RESORTS INC22,490$3.36Mshares
FCXFREEPORT MCMORAN INC78,973$3.1Mshares
MLKNMILLERKNOLL INC172,274$3.06Mshares
BMBLBUMBLE INC428,390$2.61Mshares
SNCYSUN CTRY AIRLS HLDGS INC220,530$2.6Mshares
REPXRILEY EXPLORATION PERMIAN IN91,360$2.48Mshares
SAICSCIENCE APPLICATIONS INTL CO24,342$2.42Mshares
DFHDREAM FINDERS HOMES INC89,250$2.31Mshares
LNWOLIGHT & WONDER INC24,985$2.1Mshares
LEGHLEGACY HOUSING CORP73,260$2.02Mshares
ASLEAERSALE CORPORATION223,770$1.83Mshares
WEXWEX INC10,180$1.6Mshares
CACCCREDIT ACCEP CORP MICH3,315$1.55Mshares
GDOTGREEN DOT CORP111,610$1.5Mshares
AMALAMALGAMATED FINANCIAL CORP52,685$1.43Mshares
CLWCLEARWATER PAPER CORP67,520$1.4Mshares
GCOGENESCO INC37,460$1.09Mshares
KELYAKELLY SVCS INC81,030$1.06Mshares
USNAUSANA HEALTH SCIENCES INC37,910$1.04Mshares
UHALU HAUL HOLDING COMPANY9,027$515Kshares
MOFGMIDWESTONE FINANCIAL GROUP I10,610$300Kshares
EGYVAALCO ENERGY INC53,270$214Kshares
JRVRJAMES RIVER GROUP HOLDINGS I26,170$145Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000829108-26-000001 base2026-02-11acceptance time not in the bulk data set