DENALI ADVISORS LLC
Long book
$899.7M
Q1 2026
Positions
307
Top-10 weight
22%
concentration
Last quarter
+9.5%
SPY +14.8%
Turnover
22%
of book per quarter
Strategy in plain words
auto-generated from filingsDENALI ADVISORS LLC is an institutional manager, running a $899.7M US long book across 307 positions.
The portfolio is broadly diversified across 307 positions (top 10 only 22%). Turnover is modest: positions are typically held for years. Current anchor positions: NVIDIA CORP, APPLE INC, ALPHABET INC-CL C, MICROSOFT CORP, AMAZON.COM INC.
Over the last 9 quarters its long book ran on average 1.4pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-4.4%
Q2 2024
+9.9%
Q3 2024
+0.4%
Q4 2024
-5.6%
Q1 2025
+10.5%
Q2 2025
+8.0%
Q3 2025
-0.8%
Q4 2025
+0.7%
Q1 2026
+9.5%
Sector allocation
Technology 24%
Financials 19%
Consumer discretionary 13%
Industrials 13%
Other 9%
Energy 4%
Healthcare 4%
Consumer staples 3%
Long book by quarter
What does DENALI ADVISORS own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 218.6K | $38.1M | 4.2% | +0.6% |
| AAPL APPLE INC | Technology | 118.5K | $30.1M | 3.3% | +0.2% |
| GOOG ALPHABET INC-CL C | Technology | 92.3K | $26.5M | 2.9% | 0.0% |
| MSFT MICROSOFT CORP | Technology | 69.7K | $25.8M | 2.9% | +0.3% |
| AMZN AMAZON.COM INC | Consumer discretionary | 81.6K | $17.0M | 1.9% | 0.0% |
| META META PLATFORMS INC-CLASS A | Technology | 23.8K | $13.6M | 1.5% | +0.3% |
| AVGO BROADCOM INC | Technology | 41.0K | $12.7M | 1.4% | +0.6% |
| WMT WALMART INC | Consumer discretionary | 83.0K | $10.3M | 1.1% | -0.2% |
| T AT&T INC | Communications | 355.2K | $10.3M | 1.1% | +9.1% |
| NFLX NETFLIX INC | Services media | 102.9K | $9.9M | 1.1% | -0.1% |
| IMKTA INGLES MARKETS INC-CLASS A | Consumer discretionary | 96.8K | $8.7M | 1.0% | -0.3% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 8.6K | $8.6M | 1.0% | -0.1% |
| LLY ELI LILLY & CO | Healthcare | 9.3K | $8.5M | 0.9% | +38.3% |
| MBIN MERCHANTS BANCORP/IN | Financials | 194.7K | $8.4M | 0.9% | -18.1% |
| NOG NORTHERN OIL AND GAS INC | Energy | 285.5K | $8.3M | 0.9% | -8.9% |
| CAH CARDINAL HEALTH INC | Consumer discretionary | 39.2K | $8.3M | 0.9% | +10.0% |
| SRCE 1ST SOURCE CORP | Financials | 119.6K | $8.3M | 0.9% | -0.8% |
| TSLA TESLA INC | Industrials | 22.0K | $8.2M | 0.9% | +0.1% |
| NTB BANK OF N.T. BUTTERFIELD&SON | Financials | 154.9K | $8.1M | 0.9% | +1.6% |
| CBT CABOT CORP | Other | 106.9K | $8.1M | 0.9% | +28.1% |
| AEM AGNICO EAGLE MINES LTD | Materials | 39.5K | $8.0M | 0.9% | +0.1% |
| FIZZ NATIONAL BEVERAGE CORP | Consumer staples | 236.5K | $8.0M | 0.9% | +6.2% |
| FRME FIRST MERCHANTS CORP | Financials | 205.2K | $7.9M | 0.9% | Held |
| CATY CATHAY GENERAL BANCORP | Financials | 159.1K | $7.9M | 0.9% | +0.4% |
| OTTR OTTER TAIL CORP | Utilities | 89.9K | $7.9M | 0.9% | +1.4% |
| IBOC INTERNATIONAL BANCSHARES CRP | Financials | 117.2K | $7.9M | 0.9% | +5.3% |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 53.7K | $7.8M | 0.9% | +0.1% |
| FFBC FIRST FINANCIAL BANCORP | Financials | 280.7K | $7.8M | 0.9% | -9.5% |
| NMIH NMI HOLDINGS INC | Financials | 208.3K | $7.8M | 0.9% | +5.3% |
| GEF GREIF INC-CL A | Industrials | 116.0K | $7.8M | 0.9% | 0.0% |
| MO ALTRIA GROUP INC | Consumer staples | 117.2K | $7.7M | 0.9% | +2.4% |
| RUSHA RUSH ENTERPRISES INC-CL A | Consumer discretionary | 116.9K | $7.7M | 0.9% | -21.4% |
| EFSC ENTERPRISE FINANCIAL SERVICE | Financials | 140.8K | $7.6M | 0.8% | Held |
| HG HAMILTON INSURANCE GROU-CL B | Financials | 250.8K | $7.5M | 0.8% | +353.5% |
| ACT ENACT HOLDINGS INC | Financials | 182.3K | $7.4M | 0.8% | -0.2% |
| GRBK GREEN BRICK PARTNERS INC | Industrials | 114.7K | $7.4M | 0.8% | -0.3% |
| TNK TEEKAY TANKERS LTD-CLASS A | Industrials | 100.7K | $7.4M | 0.8% | +11.7% |
| MHO M/I HOMES INC | Industrials | 59.3K | $7.3M | 0.8% | +7.4% |
| FOR FORESTAR GROUP INC | Real estate | 294.0K | $7.2M | 0.8% | -0.4% |
| WLFC WILLIS LEASE FINANCE CORP | Consumer discretionary | 41.0K | $7.0M | 0.8% | +22.4% |
| GBX GREENBRIER COMPANIES INC | Industrials | 131.9K | $6.9M | 0.8% | +494.3% |
| FG F&G ANNUITIES & LIFE INC | Financials | 273.6K | $6.9M | 0.8% | +13.2% |
| CAT CATERPILLAR INC | Industrials | 9.7K | $6.9M | 0.8% | 0.0% |
| ARCC ARES CAPITAL CORP | — | 377.6K | $6.8M | 0.8% | -3.8% |
| SD SANDRIDGE ENERGY INC | Energy | 407.5K | $6.6M | 0.7% | +0.4% |
| CMRE COSTAMARE INC | Industrials | 390.8K | $6.6M | 0.7% | -21.5% |
| STBA S & T BANCORP INC | Financials | 151.8K | $6.3M | 0.7% | +19.4% |
| CCSI CONSENSUS CLOUD SOLUTION | Technology | 267.2K | $6.3M | 0.7% | -1.4% |
| SM SM ENERGY CO | Energy | 202.8K | $6.3M | 0.7% | -32.4% |
| WM WASTE MANAGEMENT INC | Utilities | 26.7K | $6.1M | 0.7% | -0.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 8, 2026 | 307 | $899.7M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 3, 2026 | 321 | $901.0M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 7, 2025 | 297 | $885.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 30, 2025 | 288 | $960.1M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 5, 2025 | 274 | $878.6M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 4, 2025 | 271 | $954.0M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 271 | $930.7M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 9, 2024 | 175 | $365.4M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 19, 2024 | 450 | $339.6M | canonical | SEC ↗ |
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