Forest Avenue Capital Management LP

Portfolio Overview

Forest Avenue Capital Management LP disclosed 26 positions worth $1.7B in its Form 13F-HR for Q1 2026 — $1.6B in common stock plus $103.9M of put/call option positions (reported at underlying notional value, not premium at risk), led by $VST (Vistra Corp.) at 12.3% of the equity portfolio, followed by $VIK and $CRS. During the quarter the fund opened 13 new positions and exited 9 — including a new stake in $QQQ and a full exit from $RCL. The portfolio is most concentrated in Energy (26.2% of disclosed assets). All figures are sourced directly from Forest Avenue Capital Management LP’s Form 13F-HR filing with the SEC under CIK 1944889.

• 

  Vistra Corp.

  $VST

  62.9#719

  Quality

  $195.0M1,297,325 sh
• 

  Viking Holdings Ltd

  $VIK

  —

  Quality

  $149.7M2,037,215 sh
• 

  CARPENTER TECHNOLOGY CORP

  $CRS

  69.9#343

  Quality

  $147.8M375,012 sh
• 

  INVESCO QQQ TRUST, SERIES 1

  $QQQ PUT

  —

  Quality

  $103.9M180,000 sh
• 

  QXO, Inc.

  $QXO

  53.5

  Quality

  $89.8M4,622,783 sh
• 

  Core & Main, Inc.

  $CNM

  63.4

  Quality

  $89.3M1,808,055 sh
• 

  PAR PACIFIC HOLDINGS, INC.

  $PARR

  54.3

  Quality

  $88.8M1,417,079 sh
• 

  MASTEC INC

  $MTZ

  59.7

  Quality

  $86.8M269,851 sh
• 

  Everus Construction Group, Inc.

  $ECG

  67.0

  Quality

  $84.4M715,285 sh
• 

  Woodward, Inc.

  $WWD

  70.2

  Quality

  $79.5M222,073 sh

Company	Quality	Value	Shares
Vistra Corp.$VST	62.9#719	$195.0M	1,297,325
Viking Holdings Ltd$VIK	—	$149.7M	2,037,215
CARPENTER TECHNOLOGY CORP$CRS	69.9#343	$147.8M	375,012
INVESCO QQQ TRUST, SERIES 1$QQQPUT	—	$103.9M	180,000
QXO, Inc.$QXO	53.5	$89.8M	4,622,783
Core & Main, Inc.$CNM	63.4	$89.3M	1,808,055
PAR PACIFIC HOLDINGS, INC.$PARR	54.3	$88.8M	1,417,079
MASTEC INC$MTZ	59.7	$86.8M	269,851
Everus Construction Group, Inc.$ECG	67.0	$84.4M	715,285
Woodward, Inc.$WWD	70.2	$79.5M	222,073

Showing top 10 of 26 holdings.

Full Holdings — Forest Avenue Capital Management LP (Q1 2026)

All 26 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$VST	Vistra Corp.	$195.0M	12.3%	+16%	62.9
2	$VIK	Viking Holdings Ltd	$149.7M	9.5%	-29%	—
3	$CRS	CARPENTER TECHNOLOGY CORP	$147.8M	9.3%	-40%	69.9
4	$QQQPUT	INVESCO QQQ TRUST, SERIES 1	$103.9M	—	NEW	—
5	$QXO	QXO, Inc.	$89.8M	5.7%	+24%	53.5
6	$CNM	Core & Main, Inc.	$89.3M	5.7%	-4%	63.4
7	$PARR	PAR PACIFIC HOLDINGS, INC.	$88.8M	5.6%	+79%	54.3
8	$MTZ	MASTEC INC	$86.8M	5.5%	-45%	59.7
9	$ECG	Everus Construction Group, Inc.	$84.4M	5.3%	NEW	67
10	$WWD	Woodward, Inc.	$79.5M	5.0%	-36%	70.2
11	$SGI	SOMNIGROUP INTERNATIONAL INC.	$74.8M	4.7%	+46%	64.6
12	$BTU	PEABODY ENERGY CORP	$54.2M	3.4%	+40%	39.8
13	$LNG	Cheniere Energy, Inc.	$48.9M	3.1%	NEW	48.4
14	$RRX	REGAL REXNORD CORP	$44.8M	2.8%	NEW	53.8
15	$AGX	ARGAN INC	$40.6M	2.6%	-60%	79.2
16	$CEG	Constellation Energy Corp	$37.3M	2.4%	NEW	62.5
17	$NCLH	Norwegian Cruise Line Holdings Ltd.	$36.9M	2.3%	NEW	—
18	$LEG	LEGGETT & PLATT INC	$36.6M	2.3%	+200%	55.9
19	$VG	Venture Global, Inc.	$32.1M	2.0%	NEW	69
20	$AR	ANTERO RESOURCES Corp	$31.8M	2.0%	NEW	80.1
21	$HII	HUNTINGTON INGALLS INDUSTRIES, INC.	$31.5M	2.0%	NEW	55.4
22	$DK	Delek US Holdings, Inc.	$29.5M	1.9%	NEW	33.9
23	$WULF	TERAWULF INC.	$28.4M	1.8%	NEW	25.2
24	$HCC	WARRIOR MET COAL, INC.	$26.6M	1.7%	-30%	42.1
25	$CNR	Core Natural Resources, Inc.	$15.9M	1.0%	NEW	51.8
26	$NVX	NOVONIX Ltd	$827,585	0.1%	NEW	—