Birnam Oak Advisors, LP
Long book
$362.9M
Q1 2026
Positions
31
Top-10 weight
84%
concentration
Last quarter
+10.3%
SPY +14.8%
Turnover
64%
of book per quarter
Strategy in plain words
auto-generated from filingsBirnam Oak Advisors, LP is a concentrated fundamental stock-picker, running a $362.9M US long book across 31 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: NORFOLK SOUTHERN CORP, CHART INDUSTRIES INC, LEARWATER ANALYTICS HLDGS I, ISHARES MSCI ACWI ETF, WARNER BROS DISCOVERY INC.
Over the last 6 quarters its long book ran on average 1.3pp per quarter behind the S&P 500, beating the index in 2 of 6 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q4 2024
-8.5%
Q1 2025
+10.0%
Q2 2025
+5.4%
Q3 2025
+4.3%
Q4 2025
-1.7%
Q1 2026
+10.3%
Sector allocation
Industrials 33%
Communications 20%
Healthcare 18%
Other 9%
Technology 7%
Services media 5%
Financials 4%
Utilities 3%
Long book by quarter
What does Birnam Oak own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NSC NORFOLK SOUTHERN CORP | Industrials | 151.8K | $43.6M | 12.0% | +23.9% |
| GTLS CHART INDUSTRIES INC | Industrials | 198.9K | $41.1M | 11.3% | +65.4% |
| WBD WARNER BROS DISCOVERY INC | Communications | 1.2M | $33.7M | 9.3% | New |
| PEN PENUMBRA INC | Healthcare | 96.0K | $31.5M | 8.7% | New |
| KVUE KENVUE INC | Other | 1.4M | $24.3M | 6.7% | New |
| QRVO QORVO INC | Technology | 232.0K | $18.0M | 4.9% | New |
| ECHO ECHOSTAR CORP-A | Communications | 145.9K | $17.1M | 4.7% | +5.8% |
| RVMD REVOLUTION MEDICINES INC | Healthcare | 159.4K | $15.5M | 4.3% | New |
| UNF UNIFIRST CORP/MA | Services media | 51.1K | $12.9M | 3.5% | New |
| TXNM TXNM ENERGY INC | Utilities | 146.7K | $8.6M | 2.4% | -61.4% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 14.0K | $6.7M | 1.8% | -12.5% |
| AMZN AMAZON.COM INC | Consumer discretionary | 9.5K | $2.0M | 0.5% | -24.0% |
| MSFT MICROSOFT CORP | Technology | 3.0K | $1.1M | 0.3% | -50.0% |
| GS GOLDMAN SACHS GROUP INC | Financials | 1.0K | $846K | 0.2% | New |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 3.8K | $699K | 0.2% | -80.7% |
| MS MORGAN STANLEY | Financials | 4.0K | $658K | 0.2% | New |
| V VISA INC-CLASS A SHARES | Services media | 2.0K | $604K | 0.2% | New |
| JPM JPMORGAN CHASE & CO | Financials | 2.0K | $588K | 0.2% | New |
| AXP AMERICAN EXPRESS CO | Financials | 1.0K | $302K | 0.1% | New |
| FLL FULL HOUSE RESORTS INC | Services media | 10.0K | $23K | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 12, 2026 | 51 | $440.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 51 | $446.5M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 49 | $435.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 11, 2025 | 36 | $338.5M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 41 | $552.4M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 10, 2025 | 37 | $206.1M | canonical | SEC ↗ |
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