Progeny 3, Inc.
Long book
$1.87B
Q1 2026
Positions
32
Top-10 weight
60%
concentration
Last quarter
+3.8%
SPY +14.8%
Turnover
28%
of book per quarter
Strategy in plain words
auto-generated from filingsProgeny 3, Inc. is a concentrated fundamental stock-picker, running a $1.87B US long book across 32 positions.
The portfolio is concentrated: the top 10 names carry 60% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: CAMECO CORP, INTERACTIVE BROKERS GRO-CL A, API GROUP CORP, TIC SOLUTIONS INC, ISHARES CORE S&P 500 ETF.
Over the last 9 quarters its long book ran on average 1.1pp per quarter behind the S&P 500, beating the index in 5 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
+3.3%
Q2 2024
+4.4%
Q3 2024
+5.0%
Q4 2024
-3.7%
Q1 2025
+11.7%
Q2 2025
+8.5%
Q3 2025
-2.1%
Q4 2025
-0.4%
Q1 2026
+3.8%
Sector allocation
Materials 33%
Services media 14%
Utilities 12%
Financials 10%
Other 9%
Technology 8%
Energy 7%
Consumer discretionary 7%
Long book by quarter
What does Progeny 3, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CCJ CAMECO CORP | Materials | 2.3M | $254.9M | 13.6% | Held |
| IBKR INTERACTIVE BROKERS GRO-CL A | Financials | 2.2M | $147.3M | 7.9% | +3.1% |
| APG API GROUP CORP | Services media | 3.5M | $143.5M | 7.7% | Held |
| TIC TIC SOLUTIONS INC | Services media | 15.3M | $100.8M | 5.4% | +0.6% |
| ARLP ALLIANCE RESOURCE PARTNERS | Materials | 3.2M | $89.3M | 4.8% | -1.6% |
| SSNC SS&C TECHNOLOGIES HOLDINGS | Technology | 1.3M | $85.1M | 4.5% | +11.9% |
| GFL GFL ENVIRONMENTAL INC-SUB VT | Utilities | 1.9M | $80.8M | 4.3% | -5.1% |
| MLM MARTIN MARIETTA MATERIALS | Materials | 113.2K | $66.6M | 3.6% | Held |
| EQT EQT CORP | Energy | 1.0M | $64.2M | 3.4% | +3.9% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 1.7M | $63.7M | 3.4% | -3.6% |
| MPLX MPLX LP | Energy | 1.0M | $58.0M | 3.1% | -4.1% |
| AEM AGNICO EAGLE MINES LTD | Materials | 284.9K | $57.8M | 3.1% | Held |
| SOLS SOLSTICE ADV MATERIALS INC | Materials | 731.1K | $55.7M | 3.0% | Held |
| DAKT DAKTRONICS INC | Other | 2.7M | $53.7M | 2.9% | Held |
| ET ENERGY TRANSFER LP | Utilities | 2.7M | $53.0M | 2.8% | -4.6% |
| AMZN AMAZON.COM INC | Consumer discretionary | 250.1K | $52.1M | 2.8% | New |
| TSLX SIXTH STREET SPECIALTY LENDI | — | 2.5M | $45.5M | 2.4% | Held |
| PSMT PRICESMART INC | Consumer discretionary | 272.1K | $41.0M | 2.2% | +18.5% |
| ARCC ARES CAPITAL CORP | — | 2.2M | $40.1M | 2.1% | Held |
| NRP NATURAL RESOURCE PARTNERS LP | Materials | 312.5K | $37.8M | 2.0% | Held |
| PAR PAR TECHNOLOGY CORP/DEL | Technology | 2.2M | $28.9M | 1.5% | +5.6% |
| POOL POOL CORP | Consumer discretionary | 140.0K | $28.3M | 1.5% | New |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 53.2K | $25.5M | 1.4% | Held |
| BXSL BLACKSTONE SECURED LENDING F | — | 772.2K | $18.3M | 1.0% | Held |
| CLBT CELLEBRITE DI LTD | Technology | 1.1M | $15.5M | 0.8% | New |
| HCC WARRIOR MET COAL INC | Materials | 54.2K | $5.1M | 0.3% | Held |
| PCVX VAXCYTE INC | Healthcare | 23.3K | $1.4M | 0.1% | Held |
| CRNX CRINETICS PHARMACEUTICALS IN | Healthcare | 24.0K | $872K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 32 | $1.87B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 37 | $1.86B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 34 | $1.94B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 30 | $1.78B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 30 | $1.45B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 32 | $1.26B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 34 | $1.19B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR/ARESTATEMENT | Aug 16, 2024 | 29 | $1.04B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 29 | $1.01B | SEC ↗ | |
| Q1 2024 | 13F-HR | May 15, 2024 | 26 | $908.8M | canonical | SEC ↗ |
Similar funds
Sanders Capital, LLCGATES FOUNDATION TRUSTEAGLE CAPITAL MANAGEMENT LLCWoodbridge Co LtdAlecta Tjanstepension OmsesidigtMubadala Investment Co PJSCH&H International Investment, LLCNewlands Management Operations LLCINVESTOR ABIndependent Franchise Partners LLPPineStone Asset Management Inc.Pentwater Capital Management LP