SD

SD

SD

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 18, 2025	Seven Corners Capital	-	11.0%	ACT, CART, COOP, GNW, HHH, PSHZF, RFIN, RKT, SD, TPB	Compounding, concentrated, discount, energy, financials, technology, value	Turning Point Brands benefits from steady, high-quality compounding business model via Zig-Zag and Stoker's brands, which should benefit from tailwind in long-term decline of traditional cigarettes. Stoker's FRE brand of smokeless tobacco is growing at extremely high rate with Modern Oral sales up nearly 10-times versus prior year.	RKT SD CART GNW TPB PSHZF	View
2024 Q1	May 30, 2024	Silver Beech Capital	0.0%	22.3%	BN, BTI, BUR, C, CROX, DNTL.TO, ET, FFH, FNF, GOOGL, SD, WSC	cash flow, Consolidation, infrastructure, Pricing Power, small cap, undervalued, value	Silver Beech focuses on finding undervalued companies trading below intrinsic value. The portfolio trades at significantly lower valuations than the S&P 500 while maintaining similar growth and operating metrics. The fund seeks to capitalize on market inefficiencies and human nature-driven boom and bust cycles.	DNTL.TO WSC	View
2024 Q1	May 30, 2024	Bramshill Income Performance Fund	-	-	AEM, ARCC, ARLP, BP, BXSL, C, EIX, ENB, EPD, ET, Gold, KNTK, NEP, OCSL, PAA, SCHW, SD, SRE, TSLX, VNOM	BDC, energy, fixed income, gold, inflation, Preferreds, Stagflation	The firm expects continued above-trend inflation due to fiscal dominance, with federal spending at 6% of GDP overwhelming monetary policy effects. They anticipate commodity inflation driven by geopolitical risks and de-dollarization trends affecting oil pricing.		View
2026 Q1	Apr 22, 2026	Third Avenue Small-Cap Value Fund	7.8%	7.8%	COMP, CPRX, ECPG, HOG, KALU, LXU, PBF, QLYS, RHI, SD, TDW, TPH, UNF	AI, cybersecurity, disruption, energy, Fertilizers, small caps, Staffing, value			View
2024 Q1	Apr 15, 2024	Seven Corners Capital	14.0%	0.0%	ACT, GNW, PSHZF, RKT, SD, TPB	activism, discount, energy, financials, Tobacco, value	The fund maintains a significant energy position in Sandridge Energy, betting on secular decline in O&G drilling combined with inflation revival supporting carbon-based energy prices. The thesis is that if you own O&G assets, then ESG is your friend. The company has cut unnecessary expenses to the bone and maximized free cash flow conversion.	RKT SD TPB GNW PSHZF	View
2024 Q4	Dec 31, 2024	Seven Corners Capital	-	17.0%	ACT, CART, GNW, HHH, PSHZF, SD, TPB	activism, discount, energy, NAV, value	Portfolio focuses on companies trading at discounts to intrinsic value, including NAV discounts and sum-of-the-parts situations. Multiple holdings trade below their fundamental worth based on asset values.	CART SD GNW TPB PSHZF	View
2023 Q4	Dec 1, 2024	Seven Corners Capital	14.0%	0.0%	ACT, GNW, HHC, MACK, PSHZF, SD	activism, discount, energy, Pharmaceuticals, value	Portfolio consists of discount-to-sum-of-parts plays including PSHZF trading at 29% discount to NAV, GNW trading at discount to its 81.6% ACT stake value, and MACK as classic uncorrelated sum-of-parts opportunity. These positions are viewed as theoretically independent of overall market movements.	AAVE-USD MACK GNW PSHZF	View
2024 Q3	Nov 1, 2024	Seven Corners Capital	14.0%	0.0%	ACT, GNW, PSHZF, RKT, SD, TPB	Concentration, Discounts, energy, Mortgage, value	The portfolio demonstrates classic value investing principles through concentrated positions in companies trading at significant discounts to intrinsic value. Examples include Genworth Financial trading at a discount to its Enact Holdings stake and Pershing Square Holdings trading at a 31% discount to NAV. The manager seeks to unlock value through corporate actions and discount closures.	SD RKT TPB GNW PSHZF	View
2022 Q4	Nov 1, 2023	Alpha Wealth Funds – The Insiders Fund	0.0%	1.2%	ALB, CF, CME, CRK, ET, MOS, NSA, RKT, SD, UAL, UPLD	-			View
2025 Q3	Oct 21, 2025	Third Avenue Small-Cap Value Fund	7.2%	-	ABAC, BATRK, BCC, BXC, COLL, CTAS, CTLP, ECPG, FRPH, HBB, HFWA, ITIC, KALU, LXU, MYRG, PB, PRA, ROG, SD, SUPN, TDW, UMBF, UNF, VSTO	Building Materials, financials, healthcare, industrials, Pharmaceuticals, small caps, technology, value	The fund focuses on buying companies trading at discounts to conservative estimates of net asset value, with shares not reflective of potential for business improvement or value creation. The investment approach emphasizes businesses well-financed and trading below intrinsic value with identifiable value creation levers.	ROG BOISE AMBC AMBC	View
2025 Q4	Jan 18, 2026	Seven Corners Capital	0.0%	35.0%	ACT, CART, GNW, HHH, PSHZF, RKT, SD, TPB	concentrated, discount, energy, Mortgage, NAV, Tobacco, value	The portfolio demonstrates a value investing approach with concentrated positions in companies trading at discounts to intrinsic value. Holdings like PSHZF trade at significant discounts to NAV, while GNW trades at a discount to its sum-of-the-parts valuation. Turning Point Brands represents a significant position focused on smokeless tobacco products including Zig-Zag and Stoker's brands. The company's Modern Oral segment grew 627.6% year-over-year, with the FRE brand showing extremely high growth rates. Multiple holdings have mortgage exposure including Genworth Financial through its 80% ownership of Enact Holdings (private mortgage insurance) and Rocket Companies' mortgage origination and servicing business following acquisitions of Redfin and Mr Cooper. Sandridge Energy represents the largest energy holding, positioned for potential oil and natural gas price recovery. The thesis centers on secular decline in drilling combined with inflation supporting carbon-based energy prices going forward.	RKT SD CART GNW TPB PSHZF	View
2024 Q3	Sep 30, 2024	Third Avenue Small-Cap Value Fund	8.3%	0.0%	BATRA, ECPG, FRPH, HBB, ICFI, ITIC, KALU, LXU, MYRG, PB, PBF, PRA, SD, SSTK, TDW, TPH, UMBF, WASH	Cheapness, energy, Refiners, Regional Banks, small cap, value	Fund focuses on buying cheap companies at discounts to replacement value and cash flows, with emphasis on balance sheet-oriented approaches. Current holdings available at attractive valuations relative to fundamentals.	PBF SD	View
2024 Q2	Jun 30, 2024	Seven Corners Capital	14.0%	0.0%	ACT, GNW, PSHZF, RKT, SD, TPB	activism, Buybacks, Discounts, energy, financials, value	Multiple portfolio companies are actively repurchasing shares. Pershing Square Holdings continues to repurchase shares under its repo program. Genworth Financial has been actively repurchasing its stock in recent quarters.	RKT SD TPB GNW PSHZF	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Seven Corners Capital	SandRidge Energy	Energy	Oil & Gas Exploration & Production	Bull	NYSE	Asset Acquisition, Carl Icahn, Energy Value, ESG Beneficiary, Free Cash Flow, Oil & Gas, operational efficiency	View Pitch
Apr 13, 2026	Fund Letters	Seven Corners Capital	SandRidge Energy	Energy	Oil & Gas Exploration & Production	Bull	NYSE	Carl Icahn, energy, ESG, Free Cash Flow, Oil & Gas, Value	View Pitch
Apr 13, 2026	Fund Letters	Third Avenue Small-Cap Value Fund	SandRidge Energy	Energy	Oil & Gas Exploration & Production	Bull	NYSE	acquisition strategy, Bankruptcy Recovery, dividend, energy, Exploration & Production, Free Cash Flow, Mid-Continent, net cash, Oil & Gas, PV-10 Valuation, small-cap, Tax Loss Carryforwards, Value	View Pitch
Apr 13, 2026	Fund Letters	Seven Corners Capital	SandRidge Energy	Energy	Oil & Gas Exploration & Production	Bull	NYSE	Anadarko Basin, Carl Icahn, ESG Impact, Free Cash Flow, Oil & Gas, supply constraints, Well Recompletion	View Pitch
Apr 13, 2026	Fund Letters	Seven Corners Capital	SandRidge Energy	Energy	Oil & Gas Exploration & Production	Bull	NYSE	Carl Icahn, contrarian, E&P, energy, ESG Beneficiary, Free Cash Flow, Oil & Gas, turnaround, Value	View Pitch
Jan 21, 2026	Fund Letters	Scott Klarquist	SandRidge Energy, Inc.	Energy	Oil & Gas Exploration & Production	Bull	New York Stock Exchange	capital discipline, energy, Free cashflow, inflation, Oil & Gas	View Pitch
Jan 8, 2026	Fund Letters	Scott Klarquist	SandRidge Energy, Inc.	Energy	Oil & Gas Exploration & Production	Bull	New York Stock Exchange	energy, Freecashflow, inflation, Oilgas, Supplydiscipline	View Pitch

BSD Shareholders of SD

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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