PILGRIM GLOBAL ADVISORS LLC

Fundamental diversified ★Signal CIK 1963918
Long book
$772.4M
Q1 2026
Positions
3
Top-10 weight
100%
concentration
Last quarter
-30.8%
SPY +14.8%
Turnover
0%
of book per quarter

Strategy in plain words

auto-generated from filings

PILGRIM GLOBAL ADVISORS LLC is a diversified fundamental manager, running a $772.4M US long book across 3 positions.

The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: NAVIOS MARITIME PARTNERS LP, SABLE OFFSHORE CORP, TRANSOCEAN LTD.

Over the last 9 quarters its long book ran on average 1.7pp per quarter behind the S&P 500, beating the index in 4 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
+17.6%
Q2 2024
+18.5%
Q3 2024
-18.5%
Q4 2024
-2.3%
Q1 2025
-9.4%
Q2 2025
+0.6%
Q3 2025
-3.7%
Q4 2025
+53.0%
Q1 2026
-30.8%

Sector allocation

Energy
59%
Industrials
41%

Long book by quarter

$454.3M
Q1 2024
$507.2M
Q2 2024
$652.9M
Q3 2024
$547.3M
Q4 2024
$529.5M
Q1 2025
$472.8M
Q2 2025
$514.9M
Q3 2025
$539.8M
Q4 2025
$772.4M
Q1 2026

What does PILGRIM own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
NMM NAVIOS MARITIME PARTNERS LPIndustrials4.6M$313.1M40.5%-0.5%
SOC SABLE OFFSHORE CORPEnergy18.2M$300.8M38.9%Held
RIG TRANSOCEAN LTDEnergy23.9M$158.5M20.5%-24.7%

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 15, 20263$772.4M canonicalSEC ↗
Q4 202513F-HRFeb 17, 20263$539.8M canonicalSEC ↗
Q3 202513F-HRNov 14, 20254$514.9M canonicalSEC ↗
Q2 202513F-HRAug 14, 20254$472.8M canonicalSEC ↗
Q1 202513F-HRMay 15, 20254$529.5M canonicalSEC ↗
Q4 202413F-HRFeb 14, 20254$547.3M canonicalSEC ↗
Q3 202413F-HRNov 14, 20245$652.9M canonicalSEC ↗
Q2 202413F-HRAug 14, 20246$508.1M canonicalSEC ↗
Q1 202413F-HRMay 15, 20247$461.9M canonicalSEC ↗