Ballast Asset Management, LP

CIK 0001998389 · Q1 2026

13F Equity AUM

$224.7M

+6.2% QoQ

Positions

0 QoQ

AUM Rank

#6,952

Top 56%

Skill Alpha (FF)

+11.5%/yr^ns

No Clear Edge

Rank #233 · Top 3%

vs S&P -9.6%/yr (unadj.)

Quarters Tracked

~2 years

Portfolio Concentration

Top 5: 16.3%Top 10: 29.4%Top 20: 53.1%

NRP4.1%

ECVT3.2%

AZZ3.1%

RGLD3.0%

SEI2.9%

CLMB2.8%

CVCO2.6%

MBIN2.6%

TPB2.6%

CBNK2.5%

Others (42)70.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Industrials22.0%

Energy14.8%

Technology14.4%

Basic Materials14.3%

Financial Services10.8%

Healthcare7.3%

Consumer Cyclical7.2%

Consumer Defensive3.9%

Other5.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 52Median: 1.80%Avg: 1.92%

0–0.5%

0(0.0%)

0.5–1%

4(3.4%)

1–3%

45(86.2%)

3–5%

3(10.4%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 52Unique: 0vs 20 funds

0.7%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

GEODE CAPITAL MANAGEMENT, LLC

1.5%

BlackRock, Inc.

1.2%

VANGUARD CAPITAL MANAGEMENT LLC

1.4%

STATE STREET CORP

1.4%

VANGUARD PORTFOLIO MANAGEMENT LLC

1.7%

BANK OF AMERICA CORP /DE/

JPMORGAN CHASE & CO

0.9%

FMR LLC

1.2%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New1Increased49Decreased2Exited1

New Positions

SPSC0.9%

+37K

Increased

CLMB2.8%

+242K(+315%)

KOS2.5%

+207K(+11%)

GEG2.4%

+63K(+24%)

CRTO1.9%

+52K(+29%)

CCSI1.8%

+50K(+43%)

QDEL1.1%

+47K(+48%)

HLMN1.6%

+26K(+6%)

RCMT1.4%

+26K(+19%)

BRKR1.5%

+23K(+35%)

GSM1.6%

+21K(+2%)

Decreased

BELFB2.1%

-18,281(-44%)

IPGP1.3%

-7,695(-23%)

Exited

RHLD

-15,869

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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