DENALI ADVISORS LLC — 13F Holdings & Portfolio
CIK 1142941 · latest 13F-HR filed 2026-08-10
DENALI ADVISORS LLC manages $993.0M in 13F-reported U.S. long-equity assets across 318 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are NVDA (4.42%), GOOG (3.77%), AAPL (2.95%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 40 new positions and exited 29; 123 existing positions rose in reported value and 97 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-08-10
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
3 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 21.6%Cumulative share of the portfolio held in the largest N positions.
SUITE 120
SAN DIEGO, CA 92122
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| FAGAN, ADAM, JAMES Control | CHIEF COMPLIANCE OFFICER | Less than 5% | Individual |
| GILLAM, ROBERT, ARTHUR Control | CHIEF INVESTMENT OFFICER, GROWTH EQUITY | Less than 5% | Individual |
| LINDSEY, MELVIN, DUANE Control | OWNER | 25–50% | Individual |
| LINDSEY, MELVIN, DUANE Control | TRUSTEE | 50–75% | Individual |
| MCKINLEY MANAGEMENT, LLC Control | MEMBER | 10–25% | Domestic Entity |
| MUNSON, MICHAEL, ROBERT Control | MEMBER | 5–10% | Individual |
| SNIGAROFF, ROBERT, GUENTHER Control | MEMBER, MANAGER, CHIEF INVESTMENT OFFICER | 50–75% | Individual |
| NILE CAPITAL FUND B, LP | OWNER | 10–25% | Domestic Entity |
| NILE CAPITAL GROUP | OWNER | 25–50% | Domestic Entity |
| THE LINDSEY FAMILY TRUST | OWNER | 50–75% | Domestic Entity |
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- ALPHABET INC$11.0M +41.5%
- APPLIED MATLS INC$9.0M +581.2%
- RILEY EXPLORATION PERMIAN IN$7.0M +1368.7%
- ELI LILLY & CO$6.9M +81.3%
- FLEX LTD$6.3M +142.7%
Top Trims
- MICROSOFT CORP-$4.4M -17.1%
- 1ST FINL BANCORP-$4.3M -54.3%
- INGLES MKTS INC-$4.2M -48.8%
- PALANTIR TECHNOLOGIES INC-$3.9M -49.1%
- AT&T INC-$3.8M -37.2%
New Positions
- ADVANCED MICRO DEVICES INC$10.7M
- LAM RESEARCH CORP$8.7M
- MICRON TECHNOLOGY INC$7.4M
- STONEX GROUP INC$5.6M
- SONIC AUTOMOTIVE INC$4.8M
Exited Positions
- NORTHERN OIL & GAS INC$8.3M
- S & T BANCORP INC$6.3M
- SM ENERGY COMPANY$6.3M
- ROBINHOOD MKTS INC$4.6M
- SELECT MED HLDGS CORP$4.3M
DENALI ADVISORS LLC Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | NVIDIA CORPORATION | NVDA | 67066G104 | $43.9M | 4.42% | 219,391 | SH |
| 2 | ALPHABET INC | GOOG | 02079K107 | $37.4M | 3.77% | 105,988 | SH |
| 3 | APPLE INC | AAPL | 037833100 | $29.3M | 2.95% | 101,322 | SH |
| 4 | MICROSOFT CORP | MSFT | 594918104 | $21.4M | 2.15% | 57,369 | SH |
| 5 | AMAZON COM INC | AMZN | 023135106 | $16.4M | 1.65% | 68,888 | SH |
| 6 | ELI LILLY & CO | LLY | 532457108 | $15.5M | 1.56% | 12,917 | SH |
| 7 | BROADCOM INC | AVGO | 11135F101 | $15.5M | 1.56% | 40,971 | SH |
| 8 | META PLATFORMS INC | META | 30303M102 | $12.8M | 1.29% | 22,697 | SH |
| 9 | CATERPILLAR INC | CAT | 149123101 | $11.8M | 1.18% | 11,035 | SH |
| 10 | ADVANCED MICRO DEVICES INC | AMD | 007903107 | $10.7M | 1.08% | 18,468 | SH |
| 11 | FLEX LTD | FLEX | Y2573F102 | $10.7M | 1.08% | 66,146 | SH |
| 12 | APPLIED MATLS INC | AMAT | 038222105 | $10.6M | 1.07% | 14,650 | SH |
| 13 | M/I HOMES INC | MHO | 55305B101 | $9.9M | 0.99% | 61,445 | SH |
| 14 | WALMART INC | WMT | 931142103 | $9.4M | 0.95% | 83,102 | SH |
| 15 | CARDINAL HEALTH INC | CAH | 14149Y108 | $9.4M | 0.94% | 39,366 | SH |
| 16 | TESLA INC | TSLA | 88160R101 | $9.3M | 0.93% | 22,027 | SH |
| 17 | FORESTAR GROUP INC | FOR | 346232101 | $9.3M | 0.93% | 292,662 | SH |
| 18 | ENTERPRISE FINL SVCS CORP | EFSC | 293712105 | $8.9M | 0.90% | 135,100 | SH |
| 19 | CONSENSUS CLOUD SOLUTIONS IN | CCSI | 20848V105 | $8.8M | 0.89% | 230,924 | SH |
| 20 | WILLIS LEASE FIN CORP | WLFC | 970646105 | $8.8M | 0.89% | 38,450 | SH |
| 21 | MERCHANTS BANCORP IND | MBIN | 58844R108 | $8.7M | 0.88% | 174,576 | SH |
| 22 | LAM RESEARCH CORP | LRCX | 512807306 | $8.7M | 0.88% | 20,139 | SH |
| 23 | GREEN BRICK PARTNERS INC | GRBK | 392709101 | $8.7M | 0.88% | 108,874 | SH |
| 24 | CATHAY GEN BANCORP | CATY | 149150104 | $8.7M | 0.88% | 140,297 | SH |
| 25 | MERCURY GENL CORP NEW | MCY | 589400100 | $8.7M | 0.88% | 81,535 | SH |
| 26 | FIRST MERCHANTS CORP | FRME | 320817109 | $8.5M | 0.86% | 194,500 | SH |
| 27 | ALTRIA GROUP INC | MO | 02209S103 | $8.4M | 0.85% | 117,440 | SH |
| 28 | BANK OF N T BUTTERFIELD & SO | NTB | G0772R208 | $8.3M | 0.84% | 139,869 | SH |
| 29 | INTERNATIONAL BANCSHARES COR | IBOC | 459044103 | $8.2M | 0.83% | 108,480 | SH |
| 30 | GREIF INC | GEF | 397624107 | $8.2M | 0.82% | 109,851 | SH |
| 31 | NMI HLDGS INC | NMIH | 629209305 | $8.1M | 0.82% | 198,100 | SH |
| 32 | HAMILTON INSURANCE GROUP LTD | HG | G42706104 | $8.1M | 0.82% | 239,500 | SH |
| 33 | ENACT HLDGS INC | ACT | 29249E109 | $7.9M | 0.80% | 172,988 | SH |
| 34 | CABOT CORP | CBT | 127055101 | $7.9M | 0.79% | 86,707 | SH |
| 35 | OTTER TAIL CORP | OTTR | 689648103 | $7.7M | 0.77% | 85,102 | SH |
| 36 | ASBURY AUTOMOTIVE GROUP INC | ABG | 043436104 | $7.6M | 0.77% | 37,922 | SH |
| 37 | AMPHASTAR PHARMACEUTICALS IN | AMPH | 03209R103 | $7.6M | 0.76% | 375,965 | SH |
| 38 | F&G ANNUITIES & LIFE INC | FG | 30190A104 | $7.6M | 0.76% | 284,700 | SH |
| 39 | COSTCO WHOLESALE CORPORATION | COST | 22160K105 | $7.5M | 0.76% | 8,050 | SH |
| 40 | RILEY EXPLORATION PERMIAN IN | REPX | 76665T102 | $7.5M | 0.76% | 228,051 | SH |
| 41 | NETFLIX INC. | NFLX | 64110L106 | $7.4M | 0.74% | 103,210 | SH |
| 42 | MICRON TECHNOLOGY INC | MU | 595112103 | $7.4M | 0.74% | 6,380 | SH |
| 43 | PC CONNECTION INC | CNXN | 69318J100 | $7.2M | 0.73% | 99,200 | SH |
| 44 | PALO ALTO NETWORKS INC | PANW | 697435105 | $7.2M | 0.73% | 21,135 | SH |
| 45 | BYLINE BANCORP INC | BY | 124411109 | $7.0M | 0.70% | 185,516 | SH |
| 46 | NATIONAL BEVERAGE CORP | FIZZ | 635017106 | $7.0M | 0.70% | 223,100 | SH |
| 47 | 1ST SOURCE CORP | SRCE | 336901103 | $6.6M | 0.66% | 80,900 | SH |
| 48 | ARES CAPITAL CORP | ARCC | 04010L103 | $6.6M | 0.66% | 354,445 | SH |
| 49 | INTERNATIONAL SEAWAYS INC | INSW | Y41053102 | $6.5M | 0.65% | 84,681 | SH |
| 50 | AT&T INC | T | 00206R102 | $6.5M | 0.65% | 312,618 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-10 | $993.0M | 318 | 0001398344-26-013946 |
| 2026-03-31 | 2026-05-08 | $899.7M | 307 | 0001398344-26-008814 |
| 2025-12-31 | 2026-02-03 | $901.0M | 321 | 0001398344-26-002053 |
SUITE 120
SAN DIEGO, CA 92122