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Ballast Asset Management, LP

3879 MAPLE AVE SUITE 300, DALLAS, TX 75219 • 469-420-5220

Q3 2025 · Filed 2025-11-04
Market Value
$219M
+13.9%
Holdings
57
-2
New Purchases
3
Added To
41
Closed
3
Reduced
10
Top 10 Concentration
32.6%
Turnover
10.5%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CRTO 1.94% 0.00% +1.94% $4M
MLI 1.40% 0.00% +1.40% $3M
ATNI 0.87% 0.00% +0.87% $2M
QDEL 1.08% 0.38% +0.70% $2M
MBIN 2.00% 1.31% +0.69% $4M
TEX 2.01% 1.33% +0.68% $4M
GPGI 2.79% 2.12% +0.67% $6M
GBTG 1.87% 1.30% +0.56% $4M
CVCO 3.24% 2.75% +0.50% $7M
COLL 1.83% 1.34% +0.48% $4M
CLMB 4.91% 4.48% +0.43% $11M
BCO 2.73% 2.34% +0.39% $6M
OZK 1.60% 1.26% +0.34% $4M
AMR 0.47% 0.17% +0.31% $1M
KN 1.83% 1.55% +0.29% $4M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
LII 0.00% 1.15% -1.15% $0
IMXI 0.00% 1.11% -1.11% $0
CASS 0.93% 2.04% -1.11% $2M
SEI 3.32% 4.34% -1.02% $7M
TPB 3.05% 4.00% -0.96% $7M
IGIC 0.00% 0.91% -0.91% $0
AGM 2.78% 3.63% -0.85% $6M
CRMT 0.68% 1.46% -0.78% $1M
CBNK 2.79% 3.37% -0.58% $6M
BIOX 0.48% 1.02% -0.54% $1M
GEO 1.69% 2.19% -0.49% $4M
NRP 3.64% 4.05% -0.42% $8M
DOX 0.88% 1.17% -0.29% $2M
EPSN 1.28% 1.55% -0.27% $3M
BELFB 3.29% 3.52% -0.24% $7M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Industrials 22.0%
Energy 14.8%
Technology 14.4%
Basic Materials 14.3%
Financial Services 10.8%

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 4 $11M 4.9%
Mid Cap 27 $114M 52.2%
Small Cap 22 $85M 38.8%
Micro Cap 4 $9M 4.1%

Portfolio Analytics

Avg Market Cap
$4.3B
Median Market Cap
$2.8B
Avg P/E
38.0
Median P/E
17.9
Avg Dividend Yield
0.01%
Avg Beta
0.90
# Stocks
57
# ETFs / Funds
0

Top Holdings (57 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 CLMB 4.91% 79,797 $11M $134.84 $2M -821 -1.0%
2 NRP 3.64% 75,868 $8M $105.00 $174K -5,720 -7.0%
3 SEI 3.32% 181,774 $7M $39.97 -$1M -113,344 -38.4%
4 BELFB 3.29% 51,080 $7M $141.02 $427K -18,286 -26.4%
5 CVCO 3.24% 12,239 $7M $580.73 $2M +81 +0.7%
6 TPB 3.05% 67,552 $7M $98.86 -$1M -34,077 -33.5%
7 AZZ 2.82% 56,596 $6M $109.13 $878K +518 +0.9%
8 CBNK 2.79% 191,796 $6M $31.90 -$373K -1,525 -0.8%
9 GPGI 2.79% 293,311 $6M $20.82 $2M +4,363 +1.5%
10 AGM 2.78% 36,258 $6M $167.98 -$900K +277 +0.8%
11 BCO 2.73% 51,249 $6M $116.86 $1M +743 +1.5%
12 RGLD 2.44% 26,617 $5M $200.58 $658K +295 +1.1%
13 PATK 2.37% 50,245 $5M $103.43 $644K +903 +1.8%
14 EXP 2.36% 22,180 $5M $233.04 $816K +643 +3.0%
15 ECVT 2.24% 560,137 $5M $8.76 $336K +4,764 +0.9%
16 TMST 2.18% 289,317 $5M $16.53 $386K +4,015 +1.4%
17 EPR 2.02% 76,343 $4M $58.01 $96K +1,975 +2.7%
18 TEX 2.01% 85,795 $4M $51.30 $2M +31,145 +57.0%
19 MBIN 2.00% 137,887 $4M $31.80 $2M +61,418 +80.3%
20 CNR 1.96% 51,403 $4M $83.48 $824K +1,692 +3.4%
21 MTG 1.95% 150,918 $4M $28.37 $174K +3,365 +2.3%
22 CRTO 1.94% 187,850 $4M $22.60 +187,850 NEW
23 LSTR 1.93% 34,579 $4M $122.56 $489K +7,614 +28.2%
24 GBTG 1.87% 505,999 $4M $8.08 $2M +108,077 +27.2%
25 KN 1.83% 172,447 $4M $23.31 $1M +3,344 +2.0%
26 COLL 1.83% 114,315 $4M $34.99 $1M +27,109 +31.1%
27 GSM 1.82% 878,576 $4M $4.55 $885K +30,489 +3.6%
28 HLMN 1.82% 434,191 $4M $9.18 $953K +9,401 +2.2%
29 RCMT 1.69% 139,859 $4M $26.55 $449K +1,348 +1.0%
30 GEO 1.69% 180,931 $4M $20.49 -$498K +5,329 +3.0%
31 CCSI 1.61% 120,457 $4M $29.37 $818K +2,522 +2.1%
32 OZK 1.60% 68,830 $4M $50.98 $1M +17,210 +33.3%
33 BLCO 1.52% 221,662 $3M $15.07 $510K +4,531 +2.1%
34 G 1.50% 78,312 $3M $41.89 -$37K +2,928 +3.9%
35 MLI 1.40% 30,239 $3M $101.11 +30,239 NEW
36 TRIP 1.37% 185,181 $3M $16.26 $653K +4,509 +2.5%
37 EXTR 1.33% 141,008 $3M $20.65 $380K -18 -0.0%
38 DCI 1.32% 35,453 $3M $81.85 $484K +593 +1.7%
39 EPSN 1.28% 554,727 $3M $5.04 -$178K +151,826 +37.7%
40 IPGP 1.26% 34,941 $3M $79.19 $382K +197 +0.6%
41 IRMD 1.22% 37,455 $3M $71.16 $219K -3,459 -8.4%
42 KOS 1.17% 1,551,030 $3M $1.66 $228K +186,643 +13.7%
43 PHIN 1.12% 42,557 $2M $57.48 $604K +1,147 +2.8%
44 QDEL 1.08% 80,019 $2M $29.45 $2M +54,829 +217.7%
45 BRKRP 1.03% 69,364 $2M $32.49 $78K +16,564 +31.4%
46 IMKTA 1.02% 32,268 $2M $69.56 $237K +599 +1.9%
47 CBT 1.02% 29,422 $2M $76.05 $98K +890 +3.1%
48 CASS 0.93% 51,759 $2M $39.33 -$2M -38,347 -42.6%
49 DOX 0.88% 23,493 $2M $82.05 -$329K -1,241 -5.0%
50 ATNI 0.87% 126,727 $2M $14.97 +126,727 NEW
51 CRMT 0.68% 50,949 $1M $29.21 -$1M +882 +1.8%
52 RHLD 0.54% 16,415 $1M $71.43 $659K +313 +1.9%
53 BIOX 0.48% 745,030 $1M $1.41 -$909K +306,624 +69.9%
54 AMR 0.47% 6,338 $1M $164.09 $715K +3,449 +119.4%
55 LII —% -$2M -3,863 -100.0% SOLD
56 IGIC —% -$2M -72,897 -100.0% SOLD
57 IMXI —% -$2M -211,366 -100.0% SOLD

New Positions

SymbolValue% Port
CRTO $4M 1.94%
MLI $3M 1.40%
ATNI $2M 0.87%

Sold Out Positions

SymbolValue% Port
LII —%
IMXI —%
IGIC —%
View SEC EDGAR Filings for Ballast Asset Management, LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms