PARAGON ASSOCIATES & PARAGON ASSOCIATES II JOINT VENTURE
Long book
$73.6M
Q1 2026
Positions
14
Top-10 weight
90%
concentration
Last quarter
+8.5%
SPY +14.8%
Turnover
47%
of book per quarter
Strategy in plain words
auto-generated from filingsPARAGON ASSOCIATES & PARAGON ASSOCIATES II JOINT VENTURE is a concentrated fundamental stock-picker, running a $73.6M US long book across 14 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: COEUR MINING INC, SS SPDR S&P 500 ETF TRUST-US, CAREDX INC, DIAMEDICA THERAPEUTICS INC, NAVIGATOR HOLDINGS LTD.
Over the last 9 quarters its long book ran on average 3.1pp per quarter ahead of the S&P 500, beating the index in 6 of 9 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
Q1 2024
+0.9%
Q2 2024
+8.4%
Q3 2024
+0.4%
Q4 2024
+5.1%
Q1 2025
+11.8%
Q2 2025
+15.9%
Q3 2025
+8.2%
Q4 2025
+9.3%
Q1 2026
+8.5%
Sector allocation
Materials 34%
Healthcare 27%
Industrials 9%
Services media 9%
Other 8%
Utilities 6%
Energy 6%
Long book by quarter
What does PARAGON ASSOCIATES own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CDE COEUR MINING INC | Materials | 650.0K | $12.2M | 16.6% | New |
| CDNA CAREDX INC | Healthcare | 500.0K | $8.7M | 11.8% | +33.3% |
| DMAC DIAMEDICA THERAPEUTICS INC | Healthcare | 875.0K | $5.9M | 8.1% | Held |
| NVGS NAVIGATOR HOLDINGS LTD | Industrials | 300.0K | $5.8M | 7.9% | Held |
| NPKI NPK INTERNATIONAL INC | Services media | 375.0K | $5.4M | 7.4% | -6.3% |
| STKL SUNOPTA INC | — | 804.2K | $5.2M | 7.1% | +0.5% |
| AEM AGNICO EAGLE MINES LTD | Materials | 25.0K | $5.1M | 6.9% | -49.9% |
| WES WESTERN MIDSTREAM PARTNERS L | Utilities | 100.0K | $4.1M | 5.6% | New |
| EPSN EPSILON ENERGY LTD | Energy | 650.0K | $4.0M | 5.4% | Held |
| IAUX I-80 GOLD CORP | Materials | 2.5M | $3.8M | 5.2% | +66.7% |
| PROF PROFOUND MEDICAL CORP | Healthcare | 276.0K | $1.8M | 2.4% | New |
| IRIX IRIDEX CORP | Healthcare | 1.0M | $1.0M | 1.4% | Held |
| NEXM NEXMETALS MINING CORP | Materials | 325.0K | $796K | 1.1% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 14 | $73.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 12, 2026 | 12 | $48.4M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 12 | $56.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 15 | $63.0M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 13 | $42.7M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 12 | $43.2M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 16 | $55.7M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 11 | $40.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 16 | $56.1M | canonical | SEC ↗ |
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