4 managers · $131M totalData: SEC EDGAR 13F · 2026Q2
Manager holders · last 5 qtrsⓘ
3
2025Q2 – 2026Q2 · flat QoQ
Total position
$131M
Combined value across tracked managers
Net move this quarter
↓ Trimming
Weighted by holders' share change
HolderQ actionValue% of port.Style
Patient CapitalⓘTrim-9.26%$74M2.42%Contrarian growth-value / Time arbitrage
HoskingⓘTrim-10.02%$27M0.89%Contrarian value / Global diversified
GreenlightAdd+51.14%$26M1.26%Value / Long-short
RobottiⓘAdd+1.02%$5M0.81%Deep value / Cyclical contrarian
What managers sayⓘ
2026-08-17Patient Capital ManagementBullOpportunity Equity Strategy Update for 8/07/2026 – 8/14/2026Detail →
2026-08-10Patient Capital ManagementBearOpportunity Equity Strategy Update for 7/31/2026 – 8/07/2026Detail →
2026-07-27Patient Capital ManagementNeutralOpportunity Equity Strategy Update for 7/17/2026 – 7/24/2026Detail →
2026-07-20Patient Capital ManagementNeutralOpportunity Equity Strategy Update for 7/10/2026 – 7/17/2026Detail →
2026-07-09Patient Capital ManagementNeutral2Q26 Portfolio Activity & AttributionDetail →
2026-04-08Patient Capital ManagementBull1Q26 Portfolio Activity & AttributionDetail →
2025-07-11Patient Capital ManagementBull2Q25 Portfolio Activity and AttributionDetail →
2025-04-23Horos Asset ManagementBullLetter to our Co-investors 1Q25Detail →
Earnings Callsⓘ
Q2 2026August 10, 2026
›
Results beat expectations: strong project execution and high utilization drove a second upward guidance revision this year.
Revenue of $449 million, adjusted EBITDA of $144 million, and economic utilization of 96%.
West Tellus completed re-acceptance as planned and commenced operations; the repricing of West Jupiter/Tellus raised combined day rates by approximately $400,000. Backlog grew by $200 million; West Vela secured a 12-month contract with Talos and completed refinancing.
Full-year revenue guidance raised to $1.5–1.55 billion and EBITDA to $420–450 million, with stronger free cash flow in the second half.
Management remains optimistic, projecting rig utilization of nearly 95% in 2027 with day rates trending higher; the extension and resumption of the buyback is a positive signal.
Q1 2026May 11, 2026
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FinancialsⓘFY2025 · Source: SEC EDGAR 10-K
3y revenue CAGR -3% · latest net margin -7.1%
Revenue$1.09B
Rev. YoY+7.9%
Gross margin—
Net margin-7.1%
Net income-$0.08B
Free cash flow—
Operating cash flow-$0.03B
ROE-2.7%
Source: SEC EDGAR company filings (10-K). Foreign issuers (20-F/IFRS) not yet covered.