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Ballast Asset Management, LP — 13F Holdings & Portfolio

CIK 1998389 · latest 13F-HR filed 2026-08-13

Backtest portfolio

Ballast Asset Management, LP manages $250.7M in 13F-reported U.S. long-equity assets across 53 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are AZZ (3.43%), BELFB (3.12%), AGM (2.96%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 3 new positions and exited 2; 31 existing positions rose in reported value and 12 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.

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AUM
$250.7M

Long-equity book

Holdings
53

Distinct positions

Period
2026-06-30

Filed 2026-08-13

Q/Q Activity
+3 / −2 / ↑31 / ↓12

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
AZZ3.4% · -1%BELFB3.1% · -1%AGM3.0% · -1%CVCO2.9% · -1%CLMB2.9% · -1%NRP2.9% · -1%LSTR2.8% · -1%ECVT2.7% · -1%MBIN2.7% · -1%CBNK2.6% · -1%CCSI2.5% · -1%SEI2.5% · -33%TEX2.4% · -1%GEO2.4% · -37%GPGI2.4% · +29%MLI2.4% · +29%TPB2.2% · -1%BRKR2.2% · -1%MTUS2.1% · -1%HLMN2.0% · +33%EXP2.0% · -1%BCO1.9% · -1%CBT1.9% · +29%CRTO1.9% · +10%RCMT1.8% · -1%EXTR1.8% · -1%PATK1.8% · -1%EPSN1.7% · -1%EPR1.7% · -1%KOS1.7% · -1%MTG1.7% · -1%COLL1.6% · -1%CNR1.6% · -1%CASS1.6% · +51%PAYS1.5% · newRGLD1.5% · -28%BNED1.5% · newOZK1.5% · -1%ATNI1.4% · -1%BLCO1.4% · -1%PHIN1.4% · -1%G1.3% · +44%KN1.3% · -54%TCBX1.3% · newSPSC1.3% · +50%DCI1.2% · -1%IPGP1.2% · -1%IMKTA1.1% · -1%QDEL1.0% · -1%TRIP1.0% · -1%ASIX0.9% · -1%GSM0.8% · -28%AMR0.5% · 0%

Box 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 value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated 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 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 29.1%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People
Assets Under Management
$751.5M
Discretionary
$699.8M
Employees
12
Accounts
1,888
Address
400 EAST VINE ST
SUITE 400
LEXINGTON, KY 40507
Phone
(859) 226-0625
Website
Name Title / Status Ownership Type
BOARDMAN, JOHN, VALENTINE ControlPRESIDENT50–75%Individual
BURTON, BRIAN, TODD ControlTREASURER, DIRECTOR OF PORTFOLIO STRATEGY5–10%Individual
HAMILTON, CAMERON, K ControlSECRETARY, DIRECTOR OF FINANCIAL PLANNING5–10%Individual
Lehmann, Jeffrey, Edmund ControlCHIEF COMPLIANCE OFFICERLess than 5%Individual
REYNOLDS, ANDREW, JOSEPH ControlVICE PRESIDENT25–50%Individual

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Ballast Asset Management, LP 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 AZZ, Inc. AZZ 002474104 $8.6M 3.43% 55,508 SH
2 Bel Fuse, Inc. BELFB 077347300 $7.8M 3.12% 23,493 SH
3 Federal Agricultural Mortgage Corporation AGM 313148306 $7.4M 2.96% 37,226 SH
4 Cavco Industries, Inc. CVCO 149568107 $7.4M 2.94% 11,995 SH
5 Climb Global Solutions, Inc. CLMB 946760105 $7.3M 2.92% 315,770 SH
6 Natural Resource Partners, L.P. NRP 63900P608 $7.3M 2.89% 74,806 SH
7 Landstar System, Inc. LSTR 515098101 $7.0M 2.80% 33,919 SH
8 Ecovyst, Inc. ECVT 27923Q109 $6.8M 2.73% 549,113 SH
9 Merchants Bancorp MBIN 58844R108 $6.8M 2.70% 135,270 SH
10 Capital Bancorp, Inc. CBNK 139737100 $6.6M 2.63% 187,859 SH
11 Consensus Cloud Solutions, Inc. CCSI 20848V105 $6.3M 2.50% 164,457 SH
12 Solaris Energy Infrastructure, Inc. SEI 83418M103 $6.2M 2.47% 77,119 SH
13 Terex Corporation TEX 880779103 $6.1M 2.43% 84,308 SH
14 GEO Group, Inc. (The) GEO 36162J106 $5.9M 2.37% 200,700 SH
15 GPGI, Inc. GPGI 20459V105 $5.9M 2.36% 373,895 SH
16 Mueller Industries, Inc. MLI 624756102 $5.9M 2.35% 48,033 SH
17 Turning Point Brands, Inc. TPB 90041L105 $5.6M 2.24% 66,229 SH
18 Bruker Corporation BRKR 116794108 $5.4M 2.15% 89,714 SH
19 Metallus, Inc. MTUS 887399103 $5.3M 2.11% 283,657 SH
20 Hillman Solutions Corporation HLMN 431636109 $5.0M 2.00% 593,050 SH
21 Eagle Materials, Inc. EXP 26969P108 $4.9M 1.95% 21,776 SH
22 Brink's Company (The) BCO 109696104 $4.8M 1.91% 50,741 SH
23 Cabot Corporation CBT 127055101 $4.8M 1.90% 52,510 SH
24 Criteo S.A. CRTO 226718104 $4.7M 1.87% 256,488 SH
25 RCM Technologies, Inc. RCMT 749360400 $4.5M 1.80% 159,631 SH
26 Extreme Networks, Inc. EXTR 30226D106 $4.5M 1.79% 138,328 SH
27 Patrick Industries, Inc. PATK 703343103 $4.4M 1.76% 49,273 SH
28 Epsilon Energy Ltd. EPSN 294375209 $4.4M 1.74% 806,322 SH
29 EPR Properties EPR 26884U109 $4.3M 1.73% 74,891 SH
30 Kosmos Energy Ltd. KOS 500688106 $4.2M 1.69% 2,008,153 SH
31 MGIC Investment Corporation MTG 552848103 $4.2M 1.66% 147,998 SH
32 Collegium Pharmaceutical, Inc. COLL 19459J104 $4.1M 1.62% 112,111 SH
33 Core Natural Resources, Inc. CNR 218937100 $4.0M 1.61% 50,430 SH
34 Cass Information Systems, Inc. CASS 14808P109 $4.0M 1.58% 77,287 SH
35 Paysign, Inc. PAYS 70451A104 $3.8M 1.53% 467,476 SH
36 Royal Gold, Inc. RGLD 780287108 $3.8M 1.52% 19,045 SH
37 Barnes & Noble Education, Inc. BNED 06777U200 $3.8M 1.50% 299,611 SH
38 Bank OZK OZK 06417N103 $3.7M 1.49% 71,665 SH
39 ATN International, Inc. ATNI 00215F107 $3.6M 1.44% 136,243 SH
40 BAUSCH PLUS LOMB CORP BLCO 071705107 $3.6M 1.44% 217,470 SH
41 Phinia, Inc. PHIN 71880K101 $3.4M 1.37% 41,737 SH
42 Genpact Ltd. G G3922B107 $3.3M 1.31% 119,326 SH
43 Knowles Corporation KN 49926D109 $3.3M 1.30% 78,637 SH
44 Third Coast Bancshares, Inc. TCBX 88422P109 $3.2M 1.29% 80,250 SH
45 SPS Commerce, Inc. SPSC 78463M107 $3.2M 1.28% 56,249 SH
46 Donaldson Company, Inc. DCI 257651109 $3.1M 1.24% 34,761 SH
47 IPG Photonics Corporation IPGP 44980X109 $3.0M 1.21% 25,875 SH
48 Ingles Markets, Inc. IMKTA 457030104 $2.8M 1.12% 31,648 SH
49 QuidelOrtho Corporation QDEL 219798105 $2.5M 1.01% 144,526 SH
50 TripAdvisor, Inc. TRIP 896945201 $2.5M 0.99% 181,645 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-13 $250.7M 53 0001998389-26-000003
2026-03-31 2026-05-07 $224.7M 52 0001998389-26-000002
2025-12-31 2026-02-09 $211.7M 52 0001998389-26-000001
Filer Information
Address
3879 MAPLE AVE
SUITE 300
DALLAS, TX 75219
Phone
(469) 420-5220
Filing Manager
Ballast Asset Management, LP
DALLAS, TX
Signatory
STEFANIE KENNEDY
CHIEF COMPLIANCE OFFICER