13F HOLDINGS REPORT
Marnell Management LLC
Quarter ended Q4 2025 · Filed February 13, 2026 · Accession 0001852314-26-000002
Total Value
$206.1M
Positions
62
Other Managers
0
Confidential Omitted
No
Holdings (62)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | SPDR S&P 500 ETF TR | SPY | 100,000 | $68.2M | 33.08% |
| 2 | STAR BULK CARRIERS CORP. | SBLK | 361,191 | $6.9M | 3.37% |
| 3 | JBG SMITH PPTYS | 46590V100 | 385,463 | $6.6M | 3.18% |
| 4 | WARRIOR MET COAL INC | HCC | 74,184 | $6.5M | 3.17% |
| 5 | TERAWULF INC | WULF | 565,928 | $6.5M | 3.15% |
| 6 | CORE NATURAL RESOURCES INC | CNR | 68,143 | $6.0M | 2.93% |
| 7 | INTERNATIONAL SEAWAYS INC | INSW | 123,827 | $6.0M | 2.92% |
| 8 | NEXPOINT RESIDENTIAL TR INC | NXRT | 173,438 | $5.2M | 2.53% |
| 9 | GENCO SHIPPING & TRADING LTD | GNK | 281,246 | $5.2M | 2.51% |
| 10 | NAVIOS MARITIME PARTNERS L P | NMM | 95,884 | $5.0M | 2.44% |
| 11 | TORM PLC | TRMD | 245,902 | $4.8M | 2.34% |
| 12 | TIDEWATER INC NEW | TDGMW | 89,546 | $4.5M | 2.19% |
| 13 | FIRST CTZNS BANCSHARES INC D | 31946M103 | 2,105 | $4.5M | 2.19% |
| 14 | STAR BULK CARRIERS CORP. | SBLK | 222,900 | $4.3M | 2.08% |
| 15 | CENTURY ALUM CO | CENX | 107,056 | $4.2M | 2.03% |
| 16 | GARRETT MOTION INC | GTX | 225,971 | $3.9M | 1.91% |
| 17 | ARDMORE SHIPPING CORP | ASC | 366,141 | $3.9M | 1.88% |
| 18 | NEBIUS GROUP N.V. | NBIS | 44,276 | $3.7M | 1.80% |
| 19 | HUT 8 CORP | HUT | 75,942 | $3.5M | 1.69% |
| 20 | CORE SCIENTIFIC INC NEW | 21874A106 | 221,872 | $3.2M | 1.57% |
| 21 | SHERWIN WILLIAMS CO | SHW | 8,864 | $2.9M | 1.39% |
| 22 | SPDR GOLD TR | GLD | 6,700 | $2.7M | 1.29% |
| 23 | ALEXANDERS INC | ALX | 12,040 | $2.6M | 1.27% |
| 24 | FRONTLINE PLC | FRO | 109,319 | $2.4M | 1.16% |
| 25 | TALEN ENERGY CORP | TLN | 5,760 | $2.2M | 1.05% |
| 26 | HAFNIA LTD | HAFN | 404,306 | $2.2M | 1.05% |
| 27 | EAGLE MATLS INC | 26969P108 | 9,050 | $1.9M | 0.91% |
| 28 | DHT HOLDINGS INC | DHT | 146,793 | $1.8M | 0.87% |
| 29 | CMB.TECH NV | CMBT | 184,253 | $1.8M | 0.86% |
| 30 | NET LEASE OFFICE PROPERTIES | NLOP | 68,027 | $1.8M | 0.85% |
| 31 | NUCOR CORP | NUE | 10,000 | $1.6M | 0.79% |
| 32 | SCORPIO TANKERS INC | STNG | 28,044 | $1.4M | 0.69% |
| 33 | TEEKAY TANKERS LTD | TNK | 23,073 | $1.2M | 0.60% |
| 34 | TRANSOCEAN LTD | RIG | 289,877 | $1.2M | 0.58% |
| 35 | KKR & CO INC | KKRT | 9,100 | $1.2M | 0.56% |
| 36 | ALPHA METALLURGICAL RESOUR I | 020764106 | 5,584 | $1.1M | 0.54% |
| 37 | OLIN CORP | OLN | 45,700 | $951,931 | 0.46% |
| 38 | VALARIS LTD | VAL-WT | 18,647 | $939,809 | 0.46% |
| 39 | ECHOSTAR CORP | SATS | 8,600 | $934,821 | 0.45% |
| 40 | WESTLAKE CORPORATION | WLK | 11,700 | $865,098 | 0.42% |
| 41 | MARTIN MARIETTA MATLS INC | 573284106 | 1,295 | $806,345 | 0.39% |
| 42 | TSAKOS ENERGY NAVIGATION LTD | TEN-PF | 33,991 | $762,078 | 0.37% |
| 43 | ARCELORMITTAL SA LUXEMBOURG | ARCXF | 14,888 | $678,446 | 0.33% |
| 44 | PEABODY ENERGY CORP | BTU | 22,757 | $675,883 | 0.33% |
| 45 | DANAOS CORPORATION | DAC | 7,119 | $670,468 | 0.33% |
| 46 | SEAPORT ENTMT GROUP INC | SE | 32,300 | $638,571 | 0.31% |
| 47 | AIR LEASE CORP | AIIR | 9,078 | $583,080 | 0.28% |
| 48 | CAESARS ENTERTAINMENT INC NE | 12769G100 | 21,945 | $513,294 | 0.25% |
| 49 | FRANCO NEV CORP | FNV | 2,400 | $497,472 | 0.24% |
| 50 | CMB.TECH NV | CMBT | 51,200 | $494,080 | 0.24% |
| 51 | WEST FRASER TIMBER CO LTD | WFG | 7,900 | $482,769 | 0.23% |
| 52 | VORNADO RLTY TR | 929042109 | 12,500 | $416,000 | 0.20% |
| 53 | BERKSHIRE HATHAWAY INC DEL | BRK-A | 790 | $397,093 | 0.19% |
| 54 | CLEVELAND-CLIFFS INC NEW | CLF | 28,513 | $378,653 | 0.18% |
| 55 | VALE S A | VALE | 25,800 | $336,174 | 0.16% |
| 56 | WYNDHAM HOTELS & RESORTS INC | WH | 4,047 | $305,791 | 0.15% |
| 57 | LENNAR CORP | LEN-B | 3,200 | $304,384 | 0.15% |
| 58 | OKEANIS ECO TANKERS COR | ECO | 8,057 | $272,649 | 0.13% |
| 59 | CADRE HLDGS INC | CDRE | 6,076 | $248,144 | 0.12% |
| 60 | GLOBAL SHIP LEASE INC NEW | GSL-PB | 6,515 | $228,286 | 0.11% |
| 61 | TRONOX HOLDINGS PLC | TROX | 19,830 | $82,691 | 0.04% |
| 62 | GENCO SHIPPING & TRADING LTD | GNK | 4,300 | $79,249 | 0.04% |