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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F COMBINATION REPORT

DENALI ADVISORS LLC

Quarter ended Q4 2024 · Filed February 4, 2025 · Accession 0001398344-25-001944

Total Value
$954.0M
Positions
271
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (271)

#IssuerTicker / CUSIPSharesValue% of Filing
1MICROSOFT CORPMSFT97,617$41.1M4.31%
2APPLE INCAAPL160,669$40.2M4.22%
3NVIDIA CORPORATIONNVDA289,265$38.8M4.07%
4AMAZON COM INCAMZN135,656$29.8M3.12%
5ALPHABET INCGOOG116,963$22.3M2.33%
6META PLATFORMS INCMETA33,083$19.4M2.03%
7BROADCOM INCAVGO61,406$14.2M1.49%
8ARES CAPITAL CORPARCC595,041$13.0M1.37%
9TESLA INCTSLA31,114$12.6M1.32%
10NETFLIX INCNFLX13,181$11.7M1.23%
11ELI LILLY & COLLY13,688$10.6M1.11%
12BLACKSTONE SECD LENDING FDBX321,376$10.4M1.09%
13COSTCO WHSL CORP NEW22160K10511,248$10.3M1.08%
14BLUE OWL CAPITAL CORPORATIONOWL663,104$10.0M1.05%
15WALMART INCWMT105,309$9.5M1.00%
16MAIN STR CAP CORP56035L104160,583$9.4M0.99%
17HOME DEPOT INCHD22,866$8.9M0.93%
18SERVICENOW INCNOW8,046$8.5M0.89%
19KKR & CO INCKKRT55,681$8.2M0.86%
20GOLUB CAP BDC INC38173M102541,003$8.2M0.86%
21AT&T INCT-PC355,227$8.1M0.85%
22TEGNA INC87901J105410,172$7.5M0.79%
23STONEX GROUP INCSNEX74,634$7.3M0.77%
24PC CONNECTION INCCNXN104,900$7.3M0.76%
25BUCKLE INCBKE142,228$7.2M0.76%
26ALPS ETF TR00162Q452148,388$7.1M0.75%
27HERCULES CAPITAL INCHCXY349,500$7.0M0.74%
28BANK OF NT BUTTERFIELD&SON LG0772R208189,415$6.9M0.73%
29ENTERPRISE FINL SVCS CORP293712105121,992$6.9M0.72%
30CATHAY GEN BANCORP149150104143,727$6.8M0.72%
31VISTRA CORPVST49,522$6.8M0.72%
32HIGHPEAK ENERGY INCHPK457,829$6.7M0.71%
33FIRST MERCHANTS CORPFRMEP168,500$6.7M0.70%
34MASTERCARD INCORPORATEDMA12,754$6.7M0.70%
35FIRST FINL BANCORP OH320209109249,700$6.7M0.70%
36MERCHANTS BANCORP INDMBINN182,606$6.7M0.70%
371ST SOURCE CORPSRCE114,000$6.7M0.70%
38NELNET INCNNI62,010$6.6M0.69%
39RUSH ENTERPRISES INCRUSHB119,465$6.5M0.69%
40COSTAMARE INCCMRE-PC508,195$6.5M0.68%
41INGLES MKTS INC457030104100,708$6.5M0.68%
42FS KKR CAP CORPFSK298,518$6.5M0.68%
43ARISTA NETWORKS INCANET58,556$6.5M0.68%
44NMI HLDGS INCNMIH175,718$6.5M0.68%
45GREIF INCGEF-B105,221$6.4M0.67%
46NATIONAL BEVERAGE CORPFIZZ149,620$6.4M0.67%
47INTERNATIONAL BANCSHARES CORINTR101,016$6.4M0.67%
48ENACT HLDGS INCACT194,012$6.3M0.66%
49INNOVIVA INCINVA354,324$6.1M0.64%
50FORESTAR GROUP INCFOR237,161$6.1M0.64%
51EXXON MOBIL CORPXOM55,911$6.0M0.63%
52BLUELINX HLDGS INCBXC58,618$6.0M0.63%
53PALO ALTO NETWORKS INCPANW32,800$6.0M0.63%
54JACKSON FINANCIAL INCJXN-PA68,129$5.9M0.62%
55ALEXANDERS INCALX29,315$5.9M0.61%
56GOLDEN OCEAN GROUP LTDNVGLF620,490$5.6M0.58%
57SONIC AUTOMOTIVE INCSAH87,100$5.5M0.58%
58FLEX LNG LTDFLNG236,900$5.4M0.57%
59PERDOCEO ED CORPPRDO203,100$5.4M0.56%
60INTUITINTU8,473$5.3M0.56%
61BERKSHIRE HATHAWAY INC DELBRK-A11,710$5.3M0.56%
62DREAM FINDERS HOMES INCDFH225,858$5.3M0.55%
63CHENIERE ENERGY INCLNG24,251$5.2M0.55%
64QCR HOLDINGS INCQCRH64,199$5.2M0.54%
65BWX TECHNOLOGIES INCBWXT44,489$5.0M0.52%
66WASTE MGMT INC DEL94106L10924,375$4.9M0.52%
67CONSENSUS CLOUD SOLUTIONS INCCSI204,932$4.9M0.51%
68ORACLE CORPORCL-PD29,112$4.9M0.51%
69ALPHA METALLURGICAL RESOUR I02076410623,602$4.7M0.50%
70MOVADO GROUP INCMOVAA236,908$4.7M0.49%
71GENWORTH FINL INC37247D106662,500$4.6M0.49%
72WORTHINGTON ENTERPRISES INCWOR114,700$4.6M0.48%
73SOUTHERN COPPER CORPSCCO50,049$4.6M0.48%
74JPMORGAN CHASE & CO.VYLD18,570$4.5M0.47%
75SIXTH STREET SPECIALTY LENDITSLX207,976$4.4M0.46%
76ATKORE INCATKR53,000$4.4M0.46%
77THOMSON REUTERS CORPTMSOF27,515$4.4M0.46%
78SM ENERGY COSM112,551$4.4M0.46%
79BREAD FINANCIAL HOLDINGS INCBFH-PA70,032$4.3M0.45%
80UNIVERSAL LOGISTICS HLDGS INULH92,249$4.2M0.44%
81WESBANCO INCWSBCO130,200$4.2M0.44%
82TENET HEALTHCARE CORPTHC33,515$4.2M0.44%
83TRIP COM GROUP LTDTRPCF59,688$4.1M0.43%
84AGNICO EAGLE MINES LTDAEM51,618$4.0M0.42%
85SANDRIDGE ENERGY INCSD334,983$3.9M0.41%
86CARDINAL HEALTH INCCAH33,040$3.9M0.41%
87VISA INCV12,325$3.9M0.41%
88ALTRIA GROUP INCMO73,610$3.8M0.40%
89TELEFONAKTIEBOLAGET LM ERICS294821608459,679$3.7M0.39%
90HARMONY BIOSCIENCES HLDGS INHRMY104,314$3.6M0.38%
91PATHWARD FINANCIAL INCCASH48,370$3.6M0.37%
92CRESCENT CAP BDC INC225655109183,783$3.5M0.37%
93BUILDERS FIRSTSOURCE INCBLDR22,335$3.2M0.33%
94PEABODY ENERGY CORPBTU151,111$3.2M0.33%
95CONOCOPHILLIPSCOP31,185$3.1M0.32%
96EVERCORE INCEVR11,074$3.1M0.32%
97SHOE CARNIVAL INCSCVL91,800$3.0M0.32%
98MCDONALDS CORPMCD10,460$3.0M0.32%
99ISHARES TR46428722630,901$3.0M0.31%
100TAIWAN SEMICONDUCTOR MFG LTD87403910014,764$2.9M0.31%
101BANCFIRST CORPBANFP24,800$2.9M0.30%
102BLACKROCK INCBLK2,830$2.9M0.30%
103CONSTELLATION ENERGY CORPCEG12,675$2.8M0.30%
104ALLISON TRANSMISSION HLDGS IALSN26,168$2.8M0.30%
105FLEX LTDFLEX73,060$2.8M0.29%
106RILEY EXPLORATION PERMIAN INREPX87,495$2.8M0.29%
107VICTORY CAP HLDGS INC92645B10342,113$2.8M0.29%
108PBF ENERGY INCPBF103,163$2.7M0.29%
109MARRIOTT INTL INC NEW5719032029,794$2.7M0.29%
110PROCTER AND GAMBLE CO74271810916,213$2.7M0.28%
111NORTHERN OIL & GAS INCNOG73,087$2.7M0.28%
112GLOBAL INDUSTRIAL COMPANYGIC107,300$2.7M0.28%
113VANECK ETF TRUST92189F411157,066$2.6M0.27%
114WEIS MKTS INC94884910437,900$2.6M0.27%
115CARLYLE SECURED LENDING INCCGBD140,447$2.5M0.26%
116DIGITAL RLTY TR INC25386810314,185$2.5M0.26%
117FIRST BUSEY CORPBUSEP105,000$2.5M0.26%
118SAFE BULKERS INCSB-PC691,769$2.5M0.26%
119CAPITAL SOUTHWEST CORPCSWC104,496$2.3M0.24%
120SIGA TECHNOLOGIES INCSIGA378,544$2.3M0.24%
121INTERNATIONAL SEAWAYS INCINSW62,700$2.3M0.24%
122AMC NETWORKS INCAMCX225,200$2.2M0.23%
123FEDERAL AGRIC MTG CORP31314830611,300$2.2M0.23%
124UNION PAC CORPUNP9,678$2.2M0.23%
125TEEKAY TANKERS LTDTNK55,400$2.2M0.23%
126OAKTREE SPECIALTY LENDING COOCSL143,256$2.2M0.23%
127PALANTIR TECHNOLOGIES INCPLTR28,530$2.2M0.23%
128NOVARTIS AGNVSEF22,112$2.2M0.23%
129NAVIENT CORPORATIONJSM154,700$2.1M0.22%
130GREEN BRICK PARTNERS INCGRBK-PA36,319$2.1M0.22%
131SLR INVESTMENT CORPSLRC123,496$2.0M0.21%
132INTUITIVE SURGICAL INCISRG3,772$2.0M0.21%
133MORGAN STANLEY DIRECT LENDIN61774A10392,836$1.9M0.20%
134BROOKFIELD CORP11271J10732,550$1.9M0.20%
135GOLDMAN SACHS BDC INCGSBD152,277$1.8M0.19%
136UNITED RENTALS INCURI2,542$1.8M0.19%
137WELLTOWER INCWELL14,167$1.8M0.19%
138MCKESSON CORPMCK3,028$1.7M0.18%
139OMEGA HEALTHCARE INVS INC68193610045,518$1.7M0.18%
140ACADEMY SPORTS & OUTDOORS INASO29,153$1.7M0.18%
141STEEL DYNAMICS INCSTLD13,921$1.6M0.17%
142CENTRAL GARDEN & PET COCENTA47,600$1.6M0.16%
143IRON MTN INC DEL46284V10114,699$1.5M0.16%
144GRANITE RIDGE RESOURCES INCGRNT229,168$1.5M0.16%
145OREILLY AUTOMOTIVE INC67103H1071,222$1.4M0.15%
146HOVNANIAN ENTERPRISES INCHOVVB10,806$1.4M0.15%
147VERIZON COMMUNICATIONS INCVZ36,119$1.4M0.15%
148GAMING & LEISURE PPTYS INC36467J10829,717$1.4M0.15%
149VANGUARD SCOTTSDALE FDS92206C81319,079$1.4M0.15%
150REPUBLIC BANCORP INC KYRBCAA19,679$1.4M0.14%
151SYLVAMO CORPSLVM17,300$1.4M0.14%
152BEAZER HOMES USA INCBZH49,500$1.4M0.14%
153CASEYS GEN STORES INC1475281033,422$1.4M0.14%
154APPLIED MATLS INC0382221058,149$1.3M0.14%
155ALPHABET INCGOOG7,000$1.3M0.14%
156PHOTRONICS INCPLAB56,000$1.3M0.14%
157SIMMONS 1ST NATL CORP82873020058,300$1.3M0.14%
158EMBECTA CORPEMBC60,300$1.2M0.13%
159BARINGS BDC INCBBDC126,607$1.2M0.13%
160D R HORTON INC23331A1098,628$1.2M0.13%
161NEW MTN FIN CORP647551100106,071$1.2M0.13%
162KEURIG DR PEPPER INCKDP35,087$1.1M0.12%
163STRYKER CORPORATIONSYK3,100$1.1M0.12%
164LTC PPTYS INC50217510232,100$1.1M0.12%
165MIDCAP FINANCIAL INVSTMNT CO03761U50280,903$1.1M0.11%
166SHELL PLCRYDAF17,001$1.1M0.11%
167BANK AMERICA CORP06050510423,800$1.0M0.11%
168CATERPILLAR INCCAT2,852$1.0M0.11%
169VITAL ENERGY INC51680620533,445$1.0M0.11%
170TITAN INTL INC ILLKMCM150,900$1.0M0.11%
171DXP ENTERPRISES INCDXPE12,340$1.0M0.11%
172LADDER CAP CORPLADR91,100$1.0M0.11%
173PEPSICO INCPEP6,667$1.0M0.11%
174ETHAN ALLEN INTERIORS INCETD35,900$1.0M0.11%
175ENNIS INCEBF47,450$1.0M0.10%
176CHEVRON CORP NEWCVX6,801$985,0810.10%
177GLADSTONE CAPITAL CORPGLAD34,630$984,8770.10%
178PFIZER INCPFE37,100$984,0000.10%
179UNIVERSAL HEALTH RLTY INCOME91359E10525,500$949,0000.10%
180COREBRIDGE FINL INC21871X10931,493$943,0000.10%
181MARVELL TECHNOLOGY INCMRVL8,513$940,2620.10%
182SYNCHRONY FINANCIALSYF-PB14,459$940,0000.10%
183AFLAC INCAFL9,028$934,0000.10%
184BP PLCBPPFF30,551$903,0830.09%
185ISHARES TR46436E7188,504$853,1210.09%
186SNAP ON INCSNA2,509$852,0000.09%
187CONNECTONE BANCORP INCCNOBP36,800$843,0000.09%
188STATE STR CORPSTT-PG8,431$828,0000.09%
189ALBERTSONS COS INC01309110341,786$821,0000.09%
190FOX CORPFOX16,555$804,0000.08%
191GENERAL MTRS CO37045V10015,000$799,0000.08%
192TETRA TECH INC NEWTTEK19,802$788,9430.08%
193AMERICAN INTL GROUP INC02687478410,800$786,0000.08%
194LYONDELLBASELL INDUSTRIES NLYB10,549$783,0000.08%
195DISCOVER FINL SVCS2547091084,411$764,0000.08%
196ASTRAZENECA PLCAZN11,588$759,2590.08%
197COGNIZANT TECHNOLOGY SOLUTIOCTSH9,808$754,0000.08%
198HCA HEALTHCARE INCHCA2,500$750,0000.08%
199JOHNSON & JOHNSONJNJ5,128$741,6670.08%
200PENNANTPARK INVT CORP708062104103,220$730,8000.08%
201RELX PLCRLXXF15,926$723,3590.08%
202ANDERSONS INCANDE17,600$713,0000.07%
203SAP SESAPGF2,863$704,8990.07%
204HP INCHPQ21,362$697,0000.07%
205CAPITAL ONE FINL CORP14040H1053,900$695,0000.07%
206PENNANTPARK FLOATING RATE CAPFLT63,430$693,2900.07%
207KOPPERS HOLDINGS INCKOP21,300$690,0000.07%
208PENSKE AUTOMOTIVE GRP INC70959W1034,465$681,0000.07%
209GARMIN LTDGRMN3,300$681,0000.07%
210NOVO-NORDISK A SNONOF7,887$678,3970.07%
211PREFERRED BK LOS ANGELES CA7403674047,800$674,0000.07%
212BAIN CAP SPECIALTY FIN INC05684B10737,815$662,5190.07%
213KRONOS WORLDWIDE INCKRO66,700$650,0000.07%
214ADOBE INCADBE1,433$637,2260.07%
215WESTLAKE CORPORATIONWLK5,422$622,0000.07%
216ALIBABA GROUP HLDG LTDBBAAY7,167$607,6900.06%
217GLOBAL X FDS37954Y83015,784$602,6330.06%
218PNC FINL SVCS GROUP INC6934751053,100$598,0000.06%
219ARCH CAP GROUP LTDG0450A1056,321$584,0000.06%
220SS&C TECHNOLOGIES HLDGS INCSSNC7,711$584,0000.06%
221LENNAR CORPLEN-B4,114$561,0000.06%
222IBEX LTDIBEX25,962$558,0000.06%
223BANNER CORPBANR8,300$554,0000.06%
224NVR INCNVR65$532,0000.06%
225F&G ANNUITIES & LIFE INCFGSN12,500$518,0000.05%
226EOG RES INCEOG4,200$515,0000.05%
227PRINCIPAL FINANCIAL GROUP INPFG6,637$514,0000.05%
228PULTE GROUP INC7458671014,717$514,0000.05%
229OTTER TAIL CORPOTTR6,911$510,0000.05%
230ARIS WATER SOLUTIONS INC04041L10621,151$507,0000.05%
231VALERO ENERGY CORPVLO4,100$503,0000.05%
232ENTERGY CORP NEWENO6,622$502,0000.05%
233SAUL CTRS INC80439510112,918$501,0000.05%
234PACCAR INCPCAR4,800$499,0000.05%
235HONEYWELL INTL INC4385161062,192$495,0970.05%
236UNITED THERAPEUTICS CORP DELUTHR1,403$495,0000.05%
237OMNICOM GROUP INCOMC5,714$492,0000.05%
238MARATHON PETE CORPMARA3,500$488,0000.05%
239INTERCONTINENTAL HOTELS GROU45857P8063,870$483,4410.05%
240MERCK & CO INCMRK4,835$480,9660.05%
241AMDOCS LTDDOX5,610$478,0000.05%
242PROSPECT CAP CORPPSEC-PA110,138$474,6950.05%
243TD SYNNEX CORPORATIONSNX4,012$471,0000.05%
244NUCOR CORPNUE4,015$469,0000.05%
245VANGUARD MALVERN FDS9220208059,531$461,4920.05%
246DUKE ENERGY CORP NEWDUKB4,200$453,0000.05%
247BHP GROUP LTDBHPLF9,050$441,9000.05%
248EXELIXIS INCEXEL12,631$421,0000.04%
249ARCHER DANIELS MIDLAND COADM8,020$405,0000.04%
250TAPESTRY INCTPR6,130$400,0000.04%
251ATLANTICUS HOLDINGS CORPATLCZ7,152$399,0000.04%
252GEN DIGITAL INCGENVR13,700$375,0000.04%
253ISHARES TR46434V4239,000$368,0000.04%
254GLOBALFOUNDRIES INCGFS8,516$365,0000.04%
255BARCLAYS PLCBCLYF26,753$355,5470.04%
256STMICROELECTRONICS N VSTMEF13,934$347,9310.04%
257SMITH & WESSON BRANDS INCSWBI34,100$345,0000.04%
258BROOKFIELD ASSET MANAGMT LTD1130041056,288$340,7220.04%
259MITSUBISHI UFJ FINL GROUP IN60682210428,433$333,2340.03%
260EXPEDITORS INTL WASH INC3021301092,807$311,0000.03%
261CIRRUS LOGIC INCCRUS2,907$289,0000.03%
262GE HEALTHCARE TECHNOLOGIES IGEHC3,700$289,0000.03%
263ISHARES TR46429B5985,400$284,0000.03%
264ATMOS ENERGY CORPATO2,010$280,0000.03%
265CONSTELLIUM SECSTM24,606$253,0000.03%
266A-MARK PRECIOUS METALS INCGOLD9,200$252,0000.03%
267OLYMPIC STEEL INC68162K1067,000$230,0000.02%
268HARMONY GOLD MINING CO LTDHGMCF23,624$193,9540.02%
269ISHARES TR46434V7794,500$81,0000.01%
270TEEKAY CORPORATION LTDTK10,100$70,0000.01%
271VANGUARD SCOTTSDALE FDS92206C409633$49,3800.01%