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Livermore
Livermore
ZHEN

Denali Advisors LLC

SEC CIK
0001142941
Latest filing
Aug 10, 2026

Holdings in Q3 2025

Holdings as of Sep 30, 2025, filed Nov 7, 2025. Long positions only; changes compare share counts with Q2 2025.

Institution overview
Positions
297
+9 vs. Q2 2025
Portfolio value
$885.1M
−$75.0M (−7.8%) vs. Q2 2025
Filed
Nov 7, 2025
SEC
Holdings of Denali Advisors LLC in Q3 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
PLTKPlaytika Holding Corp.COM772,214$3.00M0.3%+772,214NewHistory
PBFPBF Energy Inc.CL A101,463$3.06M0.3%−1,751−1.7%ReducedHistory
CALMCal-Maine Foods IncCOM NEW32,700$3.08M0.3%+546+1.7%AddedHistory
PFBCPreferred BankCOM NEW34,200$3.09M0.3%+34,200NewHistory
MBCMasterBrand, Inc.COMMON STOCK241,400$3.18M0.4%+241,400NewHistory
SIGASiga Technologies IncCOM360,300$3.30M0.4%−30,803−7.9%ReducedHistory
BLKBlackRock, Inc.Stock2,830$3.30M0.4%00.0%UnchangedHistory
ATKRAtkore Inc.COM53,000$3.33M0.4%−260.0%ReducedHistory
STBAS&T Bancorp IncCOM88,700$3.33M0.4%+39,977+82.0%AddedHistory
ERICEricsson LM Telephone CoADR B SEK 10405,497$3.35M0.4%−53,201−11.6%ReducedHistory
BZHBeazer Homes USA IncCOM NEW138,100$3.39M0.4%+923+0.7%AddedHistory
MURMurphy Oil CorpCOM119,639$3.40M0.4%+4,663+4.1%AddedHistory
CASHPathward Financial, Inc.COM48,370$3.58M0.4%00.0%UnchangedHistory
AMPHAmphastar Pharmaceuticals, Inc.COM135,000$3.60M0.4%+135,000NewHistory
TSLXSixth Street Specialty Lending, Inc.COM159,133$3.64M0.4%−39,552−19.9%ReducedHistory
FSKFS KKR Capital CorpCOM251,488$3.75M0.4%−56,559−18.4%ReducedHistory
KGCKinross Gold CorpCOM151,979$3.78M0.4%−106,111−41.1%ReducedHistory
SDSandridge Energy IncCOM NEW334,900$3.78M0.4%−364−0.1%ReducedHistory
BTUPeabody Energy CorpCOM143,311$3.80M0.4%−7,955−5.3%ReducedHistory
AMRAlpha Metallurgical Resources, Inc.COM23,400$3.84M0.4%−211−0.9%ReducedHistory
FLEXFlex Ltd.Stock67,530$3.91M0.4%−5,443−7.5%ReducedHistory
HPKHighPeak Energy, Inc.COM582,532$4.12M0.5%+60,007+11.5%AddedHistory
BRK.BBerkshire Hathaway IncStock8,210$4.13M0.5%−1,852−18.4%ReducedHistory
LNGCheniere Energy, Inc.COM NEW17,795$4.18M0.5%−4,095−18.7%ReducedHistory
CEGConstellation Energy CorpStock12,754$4.20M0.5%−628−4.7%ReducedHistory
PRDOPerdoceo Education CorpCOM111,900$4.21M0.5%+4,146+3.8%AddedHistory
IBEXIBEX LtdSHS NEW104,611$4.24M0.5%+515+0.5%AddedHistory
TRIThomson Reuters CorpCOM NO PAR27,306$4.24M0.5%−2,340−7.9%ReducedHistory
SBSafe Bulkers, Inc.COM955,469$4.24M0.5%+25,388+2.7%AddedHistory
PANWPalo Alto Networks IncStock20,940$4.26M0.5%−5,309−20.2%ReducedHistory
Alps ETF Tr00162Q452ALERIAN MLP94,253$4.42M0.5%−50,940−35.1%Reduced–
DOLEDole plcORD SHS331,200$4.45M0.5%+169,616+105.0%AddedHistory
SCSCScansource, Inc.COM104,441$4.59M0.5%+95,486+1,066.3%AddedHistory
TNKTeekay Tankers Ltd.CL A92,257$4.66M0.5%−31,541−25.5%ReducedHistory
NNINelnet IncCL A39,000$4.89M0.6%−5,422−12.2%ReducedHistory
HTGCHercules Capital, Inc.COM265,576$5.02M0.6%−68,277−20.5%ReducedHistory
LLYEli Lilly & CoStock6,772$5.17M0.6%−6,004−47.0%ReducedHistory
WABCWestamerica BancorporationCOM104,500$5.22M0.6%−2,652−2.5%ReducedHistory
NOGNorthern Oil & Gas, Inc.COM214,787$5.33M0.6%+13,206+6.6%AddedHistory
LADRLadder Capital CorpCL A490,600$5.35M0.6%+244,776+99.6%AddedHistory
GICGlobal Industrial CoCOM146,518$5.37M0.6%−19,260−11.6%ReducedHistory
CNXNPC Connection IncCOM86,900$5.39M0.6%+20,269+30.4%AddedHistory
PLABPhotronics IncCOM235,238$5.40M0.6%+92,475+64.8%AddedHistory
JPMJPMorgan Chase & CoStock17,170$5.42M0.6%−200−1.2%ReducedHistory
MAMastercard IncStock9,643$5.49M0.6%−2,909−23.2%ReducedHistory
CAHCardinal Health IncStock35,680$5.60M0.6%+2,640+8.0%AddedHistory
WMWaste Management IncStock26,752$5.91M0.7%−5,116−16.1%ReducedHistory
GBDCGolub Capital BDC, Inc.COM433,255$5.93M0.7%−108,893−20.1%ReducedHistory
SMSM Energy CoCOM245,572$6.13M0.7%−16,330−6.2%ReducedHistory
BXSLBlackstone Secured Lending FundCOMMON STOCK243,140$6.34M0.7%−60,641−20.0%ReducedHistory
OBDCBlue Owl Capital CorpCOM508,615$6.50M0.7%−121,603−19.3%ReducedHistory
FIZZNational Beverage CorpCOM182,262$6.73M0.8%+42,212+30.1%AddedHistory
SRCE1st Source CorpCOM109,400$6.73M0.8%+4,349+4.1%AddedHistory
DNOWDNOW Inc.COM443,337$6.76M0.8%+266,733+151.0%AddedHistory
HDHome Depot, Inc.Stock16,705$6.77M0.8%−5,752−25.6%ReducedHistory
NTBBank of N.T. Butterfield & Son LtdSHS NEW158,079$6.78M0.8%+7,825+5.2%AddedHistory
FRMEFirst Merchants CorpCOM180,600$6.81M0.8%+6,216+3.6%AddedHistory
ACTEnact Holdings, Inc.COM178,879$6.86M0.8%+5,094+2.9%AddedHistory
FGF&G Annuities & Life, Inc.COMMON STOCK223,161$6.98M0.8%+49,728+28.7%AddedHistory
ALXAlexanders IncCOM29,900$7.01M0.8%+1,976+7.1%AddedHistory
GEFGreif, IncCL A117,485$7.02M0.8%+1,818+1.6%AddedHistory
OTTROtter Tail CorpCOM86,125$7.06M0.8%+6,950+8.8%AddedHistory
IMKTAIngles Markets IncCL A102,839$7.15M0.8%+1,750+1.7%AddedHistory
JXNJackson Financial Inc.COM CL A70,700$7.16M0.8%+1,254+1.8%AddedHistory
DFHDream Finders Homes, Inc.COM CL A276,458$7.17M0.8%−37,352−11.9%ReducedHistory
FFBCFirst Financial BancorpCOM286,500$7.23M0.8%+23,975+9.1%AddedHistory
RUSHARush Enterprises IncCL A135,296$7.23M0.8%+3,559+2.7%AddedHistory
IBOCInternational Bancshares CorpCOM105,917$7.28M0.8%+3,545+3.5%AddedHistory
NMIHNMI Holdings, Inc.COM190,211$7.29M0.8%+18,217+10.6%AddedHistory
EFSCEnterprise Financial Services CorpCOM125,900$7.30M0.8%+3,976+3.3%AddedHistory
CATYCathay General BancorpCOM153,474$7.37M0.8%+5,228+3.5%AddedHistory
VSTVistra Corp.Stock38,719$7.59M0.9%−12,400−24.3%ReducedHistory
MAINMain Street Capital CORPCEF119,697$7.61M0.9%−32,502−21.4%ReducedHistory
MBINMerchants BancorpCOM239,414$7.61M0.9%+38,904+19.4%AddedHistory
FORForestar Group Inc.COM287,213$7.64M0.9%−49,614−14.7%ReducedHistory
MOAltria Group, Inc.Stock116,243$7.68M0.9%−21,719−15.7%ReducedHistory
BKEBuckle IncCOM134,600$7.90M0.9%−19,075−12.4%ReducedHistory
CMRECostamare Inc.SHS672,396$8.01M0.9%−50,260−7.0%ReducedHistory
COSTCostco Wholesale CorpStock8,683$8.04M0.9%−2,410−21.7%ReducedHistory
AEMAgnico Eagle Mines LtdStock48,119$8.11M0.9%−3,457−6.7%ReducedHistory
CCSIConsensus Cloud Solutions, Inc.COM277,038$8.14M0.9%+33,198+13.6%AddedHistory
GRBKGreen Brick Partners, Inc.COM111,063$8.20M0.9%+546+0.5%AddedHistory
WMTWalmart Inc.Stock83,451$8.60M1.0%−21,259−20.3%ReducedHistory
ARCCAres Capital CorpCEF446,106$9.11M1.0%−117,345−20.8%ReducedHistory
ORCLOracle CorpStock32,400$9.11M1.0%+3,171+10.8%AddedHistory
TAT&T Inc.Stock326,053$9.21M1.0%−74,984−18.7%ReducedHistory
PLTRPalantir Technologies Inc.Stock53,509$9.76M1.1%−11,412−17.6%ReducedHistory
TSLATesla, Inc.Stock22,159$9.85M1.1%−8,549−27.8%ReducedHistory
AVGOBroadcom Inc.Stock37,277$12.3M1.4%−20,874−35.9%ReducedHistory
NFLXNetflix IncStock10,307$12.4M1.4%−2,687−20.7%ReducedHistory
HOODRobinhood Markets, Inc.Stock93,116$13.3M1.5%−10,075−9.8%ReducedHistory
METAMeta Platforms, Inc.Stock23,843$17.5M2.0%−8,752−26.9%ReducedHistory
AMZNAmazon Com IncStock81,976$18.0M2.0%−46,452−36.2%ReducedHistory
GOOGAlphabet Inc.Stock76,983$18.7M2.1%−29,083−27.4%ReducedHistory
AAPLApple Inc.Stock119,018$30.3M3.4%−38,669−24.5%ReducedHistory
MSFTMicrosoft CorpStock69,632$36.1M4.1%−24,976−26.4%ReducedHistory
NVDANVIDIA CorpStock217,681$40.6M4.6%−83,706−27.8%ReducedHistory

Sold out since Q2 2025 (36)

Positions held at the end of Q2 2025 that are gone from this filing.

Positions of Denali Advisors LLC sold out since Q2 2025
SecurityClassShares in Q2 2025Value in Q2 2025% of portfolio in Q2 2025History
VCTRVictory Capital Holdings, Inc.COM CL A105,277$6.70M0.7%History
TGNATegna IncCOM383,911$6.43M0.7%History
SAHSonic Automotive IncCL A56,667$4.53M0.5%History
WORWorthington Enterprises, Inc.COM62,732$3.99M0.4%History
PAXPatria Investments LtdCOM CL A234,819$3.30M0.3%History
RDNRadian Group IncCOM82,976$2.99M0.3%History
ISRGIntuitive Surgical IncCOM NEW3,660$1.99M0.2%History
VRTSVirtus Investment Partners, Inc.COM9,004$1.63M0.2%History
PEBOPeoples Bancorp IncCOM43,523$1.33M0.1%History
CENTACentral Garden & Pet CoCL A NON-VTG39,700$1.24M0.1%History
KDPKeurig Dr Pepper Inc.COM34,511$1.14M0.1%History
LTCLTC Properties IncREIT25,012$865.7K0.1%History
RELXRELX PLCSPONSORED ADR15,811$859.1K0.1%History
CVXChevron CorpStock5,701$816.3K0.1%History
CMDBCostamare Bulkers Holdings LtdCOM SHS92,025$797.9K0.1%History
PFEPfizer IncStock31,700$768.4K0.1%History
MRVLMarvell Technology, Inc.COM8,540$661.0K0.1%History
VRSNVerisign IncCOM2,103$607.3K0.1%History
CNOCNO Financial Group, Inc.COM15,007$579.0K0.1%History
BNYBank of New York Mellon CorpStock6,300$574.0K0.1%History
PPCPilgrims Pride CorpStock11,977$538.7K0.1%History
VTLEVital Energy, Inc.COM33,465$538.5K0.1%History
ADBEAdobe Inc.Stock1,391$538.2K0.1%History
INMDInMode Ltd.SHS34,851$503.2K0.1%History
USNAUsana Health Sciences IncCOM16,409$501.0K0.1%History
EMBCEmbecta Corp.Stock49,226$477.0K<0.1%History
QCOMQualcomm IncStock2,700$430.0K<0.1%History
PAGSPagSeguro Digital Ltd.COM CL A42,859$413.2K<0.1%History
EDConsolidated Edison IncStock4,109$412.3K<0.1%History
GENGen Digital Inc.Stock12,700$373.4K<0.1%History
RACEFerrari N.V.COM748$367.1K<0.1%History
Golden Ocean Group LtdG39637205SHS NEW49,246$360.5K<0.1%–
LENLennar CorpCL A2,711$299.9K<0.1%History
EMEEMCOR Group, Inc.Stock500$267.4K<0.1%History
ARWArrow Electronics, Inc.COM1,631$207.8K<0.1%History
Vanguard Scottsdale FDS92206C409SHRT TRM CORP BD629$50.0K<0.1%–