MAGNOLIA GROUP, LLC
Long book
$537.5M
Q1 2026
Positions
12
Top-10 weight
98%
concentration
Last quarter
+1.4%
SPY +14.8%
Turnover
15%
of book per quarter
Strategy in plain words
auto-generated from filingsMAGNOLIA GROUP, LLC is a concentrated fundamental stock-picker, running a $537.5M US long book across 12 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: NELNET INC-CL A, BOSTON OMAHA CORP-CL A, CORE NATURAL RESOURCES INC, ASBURY AUTOMOTIVE GROUP, ALLIANCE RESOURCE PARTNERS.
Over the last 9 quarters its long book ran on average 4.3pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.4%
Q2 2024
+6.2%
Q3 2024
+0.9%
Q4 2024
-1.3%
Q1 2025
+5.5%
Q2 2025
-4.8%
Q3 2025
-4.1%
Q4 2025
-4.1%
Q1 2026
+1.4%
Sector allocation
Financials 42%
Materials 19%
Real estate 15%
Consumer discretionary 13%
Communications 5%
Utilities 4%
Industrials 2%
Long book by quarter
What does MAGNOLIA GROUP, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NNI NELNET INC-CL A | Financials | 1.7M | $215.2M | 40.0% | Held |
| BOC BOSTON OMAHA CORP-CL A | Real estate | 5.6M | $65.3M | 12.1% | Held |
| CNR CORE NATURAL RESOURCES INC | Materials | 602.5K | $63.1M | 11.7% | -10.0% |
| ABG ASBURY AUTOMOTIVE GROUP | Consumer discretionary | 288.0K | $56.3M | 10.5% | +3.1% |
| ARLP ALLIANCE RESOURCE PARTNERS | Materials | 1.4M | $39.0M | 7.3% | -45.3% |
| CCOI COGENT COMMUNICATIONS HOLDIN | Communications | 1.3M | $24.3M | 4.5% | +3.5% |
| PCYO PURE CYCLE CORP | Utilities | 1.9M | $19.3M | 3.6% | -4.9% |
| CRMT AMERICA'S CAR-MART INC | Consumer discretionary | 1.3M | $16.0M | 3.0% | Held |
| RMAX RE/MAX HOLDINGS INC-CL A | Real estate | 2.7M | $15.4M | 2.9% | -7.0% |
| OMCC OLD MARKET CAPITAL CORP | Financials | 2.5M | $11.2M | 2.1% | Held |
| LEN/B LENNAR CORP - B SHS | Industrials | 108.8K | $9.1M | 1.7% | +53.1% |
| NVR NVR INC | Industrials | 490 | $3.2M | 0.6% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 24, 2026 | 12 | $537.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 3, 2026 | 12 | $606.5M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 29, 2025 | 11 | $630.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 29, 2025 | 10 | $650.5M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 1, 2025 | 9 | $589.9M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 10, 2025 | 10 | $582.9M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 4, 2024 | 9 | $590.9M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 6, 2024 | 10 | $658.6M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 7, 2024 | 11 | $663.9M | canonical | SEC ↗ |
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