TLS Advisors LLC
Long book
$42.1M
Q1 2026
Positions
16
Top-10 weight
95%
concentration
Last quarter
+0.1%
SPY +14.8%
Turnover
40%
of book per quarter
Strategy in plain words
auto-generated from filingsTLS Advisors LLC is a concentrated fundamental stock-picker, running a $42.1M US long book across 16 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: EQT CORP, RIO TINTO PLC-SPON ADR, META PLATFORMS INC-CLASS A, ISHARES MSCI GLOBAL METALS &, XOMA ROYALTY CORPORATION.
Over the last 9 quarters its long book ran on average 2.5pp per quarter behind the S&P 500, beating the index in 4 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
-8.2%
Q2 2024
+9.5%
Q3 2024
-7.4%
Q4 2024
+1.7%
Q1 2025
+7.0%
Q2 2025
+10.8%
Q3 2025
-0.1%
Q4 2025
+4.4%
Q1 2026
+0.1%
Sector allocation
Energy 40%
Technology 23%
Healthcare 22%
Services media 10%
Other 4%
Industrials 2%
Long book by quarter
What does TLS Advisors own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| EQT EQT CORP | Energy | 135.8K | $8.6M | 20.5% | +182.9% |
| META META PLATFORMS INC-CLASS A | Technology | 10.6K | $6.1M | 14.4% | New |
| XOMA XOMA ROYALTY CORPORATION | Healthcare | 114.9K | $3.6M | 8.6% | +139.7% |
| FISV FISERV INC | Services media | 48.0K | $2.7M | 6.4% | New |
| RRC RANGE RESOURCES CORP | Energy | 47.9K | $2.2M | 5.1% | +54.8% |
| XENE XENON PHARMACEUTICALS INC | Healthcare | 31.0K | $1.8M | 4.3% | +64.2% |
| ALITEUR ALIGHT INC - CLASS A | — | 1.8M | $1.0M | 2.4% | New |
| HOV HOVNANIAN ENTERPRISES-A | Industrials | 3.9K | $429K | 1.0% | New |
| OABI OMNIAB INC | Healthcare | 250.2K | $393K | 0.9% | +257.4% |
| OVID OVID THERAPEUTICS INC | Healthcare | 18.9K | $41K | 0.1% | +38.7% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 16 | $42.1M | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 4, 2026 | 16 | $38.1M | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 4, 2025 | 19 | $34.4M | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 13 | $32.0M | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 12, 2025 | 15 | $44.3M | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR/ARESTATEMENT | Feb 13, 2025 | 17 | $43.7M | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 17 | $44K | SEC ↗ | |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 19 | $47.3M | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 7, 2024 | 19 | $40.0M | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 7, 2024 | 15 | $43.0M | $K fixed canonical | SEC ↗ |
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