Portfolio (Quarterly) Guide ↗

Marnell Management LLC

· CIK 0001852314

13F Portfolio $288M AUM 72 positions Filed May 14, 2026 EDGAR ↗ ← All Funds

Q1 2026 Q4 2025 · All 21 New 21 Added 29 Reduced 11 Exited

#	Ticker	Company	Sector	Shares	Value ↓	% Port	Status
1	SBLK CALL	STAR BULK CARRIERS CORP.	Industrials	222,900	$4.3M	2.08%	SOLD
2	NLOP	NET LEASE OFFICE PROPERTIES	Real Estate	68,027	$1.8M	0.85%	SOLD
3	NUE PUT	NUCOR CORP	Basic Materials	10,000	$1.6M	0.79%	SOLD
4	DAC	DANAOS CORPORATION	Industrials	7,119	$670K	0.33%	SOLD
5	—	AIR LEASE CORP	—	9,078	$583K	0.28%	SOLD
6	FNV	FRANCO NEV CORP	Basic Materials	2,400	$497K	0.24%	SOLD
7	VALE	VALE S A	Basic Materials	25,800	$336K	0.16%	SOLD
8	CDRE	CADRE HLDGS INC	Industrials	6,076	$248K	0.12%	SOLD
9	GSL	GLOBAL SHIP LEASE INC NEW	Industrials	6,515	$228K	0.11%	SOLD
10	TROX	TRONOX HOLDINGS PLC	Basic Materials	19,830	$83K	0.04%	SOLD
11	GNK CALL	GENCO SHIPPING & TRADING LTD	Industrials	4,300	$79K	0.04%	SOLD

Sector Allocation

Energy 28.8%

Industrials 19.2%

Real Estate 16.3%

Financial Services 14.6%

Basic Materials 8.5%

Technology 5.3%

Consumer Cyclical 4.1%

Utilities 3.1%