| Stock | Ownership Trend | Portfolio % | Prev Q % | Q4 2025 Value | Q4 2025 Shares | Prev Q Value | Prev Q Shares | Shares Change | Action |
|---|---|---|---|---|---|---|---|---|---|
 ALGOMA STL GROUP INCASTL | 44.65% | 35.04% | $18.3M | 3.2M | $11.5M | 3.2M | 00.00% | Unchanged | |
| IIHEARTMEDIA INC COM CL AIHRT | 20.65% | 17.76% | $8.4M | 2.0M | $5.8M | 2.0M | -1,623-0.08% | Reduce | |
| SSEADRILL LTDSDRL | 18.77% | 20.41% | $7.7M | 221,942 | $6.7M | 221,942 | 00.00% | Unchanged | |
| WWw International IncWW | 12.19% | 21.2% | $5.0M | 170,751 | $7.0M | 254,511 | -83,760-32.91% | Reduce | |
 CAESARS ENTERTAINMENT INC NECZR | 3.74% | 5.59% | $1.5M | 65,360 | $1.8M | 67,955 | -2,595-3.82% | Reduce |
