BIRNAM OAK ADVISORS, LP

Filed: 2/17/2026ACC: 0001172661-26-001061

📋 What this filing means

BIRNAM OAK ADVISORS, LP filed this quarterly 13F‑HR report disclosing 32 equity positions with a total reported market value of $446.51M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$446.51M

Total AUM (reported)

18.22M

Total Shares

Allocation by class

COM$278.89M62.5%

SHS$48.91M11.0%

MSCI ACWI ETF$39.16M8.8%

CL A$14.99M3.4%

GROWTH ETF$13.22M3.0%

COM NEW$9.15M2.0%

CL B NEW$8.04M1.8%

Portfolio Concentration

Top 3$123.13M27.6%

4–10$185.66M41.6%

11–25$122.35M27.4%

Rest$15.37M3.4%

Top 3 weight

27.6%

Top 10 weight

69.2%

Voting Authority Distribution

Total shares with voting rights: 18.22M

Sole

Full voting authority

10.51M

% of voting shares57.7%

Shared

Joint voting authority

7.71M

% of voting shares42.3%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole22

Shared0

Other10

Dominant voting typeSole · 57.7% of voting shares

Institutional Holdings32

Rows:

CYBERARK SOFTWARE LTD

OTR

SHS

Shares101.58K

TypeSH

Market value$45.31M

10.15%

Sole

65.81K

Shared

35.77K

None

0.00

ISHARES TR

SOLE

MSCI ACWI ETF

Shares276.80K

TypeSH

Market value$39.16M

8.77%

Sole

276.80K

Shared

0.00

None

0.00

FRONTIER COMMUNICATIONS PARE

SOLE

COM

Shares1.02M

TypeSH

Market value$38.66M

8.66%

Sole

609.50K

Shared

405.97K

None

0.00

NORFOLK SOUTHN CORP

OTR

COM

Shares122.54K

TypeSH

Market value$35.38M

7.92%

Sole

79.94K

Shared

42.60K

None

0.00

ELECTRONIC ARTS INC

SOLE

COM

Shares150.97K

TypeSH

Market value$30.85M

6.91%

Sole

96.52K

Shared

54.46K

None

0.00

COMERICA INC

OTR

COM

Shares333.65K

TypeSH

Market value$29.00M

6.50%

Sole

203.02K

Shared

130.63K

None

0.00

DAYFORCE INC

SOLE

COM

Shares359.89K

TypeSH

Market value$24.89M

5.57%

Sole

234.17K

Shared

125.72K

None

0.00

CHART INDS INC

SOLE

COM

Shares120.28K

TypeSH

Market value$24.81M

5.56%

Sole

86.46K

Shared

33.82K

None

0.00

TXNM ENERGY INC

OTR

COM

Shares379.85K

TypeSH

Market value$22.37M

5.01%

Sole

217.32K

Shared

162.53K

None

0.00

AES CORP

OTR

COM

Shares1.28M

TypeSH

Market value$18.37M

4.11%

Sole

866.44K

Shared

414.40K

None

0.00

EXACT SCIENCES CORP

SOLE

COM

Shares177.38K

TypeSH

Market value$18.01M

4.03%

Sole

109.76K

Shared

67.62K

None

0.00

ECHOSTAR CORP

OTR

CL A

Shares137.94K

TypeSH

Market value$14.99M

3.36%

Sole

117.03K

Shared

20.91K

None

0.00

VANGUARD INDEX FDS

SOLE

GROWTH ETF

Shares27.10K

TypeSH

Market value$13.22M

2.96%

Sole

27.10K

Shared

0.00

None

0.00

CIDARA THERAPEUTICS INC

OTR

COM NEW

Shares41.41K

TypeSH

Market value$9.15M

2.05%

Sole

28.43K

Shared

12.99K

None

0.00

ASTRIA THERAPEUTICS INC

OTR

COM

Shares689.74K

TypeSH

Market value$9.03M

2.02%

Sole

500.75K

Shared

188.99K

None

0.00

CADENCE BANK

SOLE

COM

Shares210.34K

TypeSH

Market value$9.01M

2.02%

Sole

137.32K

Shared

73.02K

None

0.00

BERKSHIRE HATHAWAY INC DEL

SOLE

CL B NEW

Shares16K

TypeSH

Market value$8.04M

1.80%

Sole

16K

Shared

0.00

None

0.00

VANGUARD INDEX FDS

SOLE

VALUE ETF

Shares38K

TypeSH

Market value$7.26M

1.63%

Sole

38K

Shared

0.00

None

0.00

ANYWHERE REAL ESTATE INC

SOLE

COM

Shares507.46K

TypeSH

Market value$7.19M

1.61%

Sole

384.12K

Shared

123.34K

None

0.00

MARA HOLDINGS INC

SOLE

NOTE 6/0

Shares7.40M

TypePRN

Market value$6.19M

1.39%

Sole

3.70M

Shared

3.70M

None

0.00

CAPITAL ONE FINL CORP

SOLE

COM

Shares19.83K

TypeSH

Market value$4.81M

1.08%

Sole

19.83K

Shared

0.00

None

0.00

CLEANSPARK INC

OTR

NOTE 6/1

Shares4M

TypePRN

Market value$4.16M

0.93%

Sole

Shared

None

0.00

ISHARES TR

SOLE

CORE MSCI EURO

Shares55K

TypeSH

Market value$3.90M

0.87%

Sole

55K

Shared

0.00

None

0.00

VANGUARD INTL EQUITY INDEX F

SOLE

FTSE EUROPE ETF

Shares45K

TypeSH

Market value$3.76M

0.84%

Sole

45K

Shared

0.00

None

0.00

J P MORGAN EXCHANGE TRADED F

SOLE

BETABULDRS JAPAN

Shares55K

TypeSH

Market value$3.63M

0.81%

Sole

55K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared
CYBERARK SOFTWARE LTDOTR	SHS	101.58K	SH	$45.31M 10.15%	65.81K	35.77K
ISHARES TRSOLE	MSCI ACWI ETF	276.80K	SH	$39.16M 8.77%	276.80K	0.00
FRONTIER COMMUNICATIONS PARESOLE	COM	1.02M	SH	$38.66M 8.66%	609.50K	405.97K
NORFOLK SOUTHN CORPOTR	COM	122.54K	SH	$35.38M 7.92%	79.94K	42.60K
ELECTRONIC ARTS INCSOLE	COM	150.97K	SH	$30.85M 6.91%	96.52K	54.46K
COMERICA INCOTR	COM	333.65K	SH	$29.00M 6.50%	203.02K	130.63K
DAYFORCE INCSOLE	COM	359.89K	SH	$24.89M 5.57%	234.17K	125.72K
CHART INDS INCSOLE	COM	120.28K	SH	$24.81M 5.56%	86.46K	33.82K
TXNM ENERGY INCOTR	COM	379.85K	SH	$22.37M 5.01%	217.32K	162.53K
AES CORPOTR	COM	1.28M	SH	$18.37M 4.11%	866.44K	414.40K
EXACT SCIENCES CORPSOLE	COM	177.38K	SH	$18.01M 4.03%	109.76K	67.62K
ECHOSTAR CORPOTR	CL A	137.94K	SH	$14.99M 3.36%	117.03K	20.91K
VANGUARD INDEX FDSSOLE	GROWTH ETF	27.10K	SH	$13.22M 2.96%	27.10K	0.00
CIDARA THERAPEUTICS INCOTR	COM NEW	41.41K	SH	$9.15M 2.05%	28.43K	12.99K
ASTRIA THERAPEUTICS INCOTR	COM	689.74K	SH	$9.03M 2.02%	500.75K	188.99K
CADENCE BANKSOLE	COM	210.34K	SH	$9.01M 2.02%	137.32K	73.02K
BERKSHIRE HATHAWAY INC DELSOLE	CL B NEW	16K	SH	$8.04M 1.80%	16K	0.00
VANGUARD INDEX FDSSOLE	VALUE ETF	38K	SH	$7.26M 1.63%	38K	0.00
ANYWHERE REAL ESTATE INCSOLE	COM	507.46K	SH	$7.19M 1.61%	384.12K	123.34K
MARA HOLDINGS INCSOLE	NOTE 6/0	7.40M	PRN	$6.19M 1.39%	3.70M	3.70M
CAPITAL ONE FINL CORPSOLE	COM	19.83K	SH	$4.81M 1.08%	19.83K	0.00
CLEANSPARK INCOTR	NOTE 6/1	4M	PRN	$4.16M 0.93%	2M	2M
ISHARES TRSOLE	CORE MSCI EURO	55K	SH	$3.90M 0.87%	55K	0.00
VANGUARD INTL EQUITY INDEX FSOLE	FTSE EUROPE ETF	45K	SH	$3.76M 0.84%	45K	0.00
J P MORGAN EXCHANGE TRADED FSOLE	BETABULDRS JAPAN	55K	SH	$3.63M 0.81%	55K	0.00

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