2026 Q1 Portfolio Activity
In 2026 Q1, Maple Rock Capital Partners Inc. maintained a portfolio of 51 distinct positions. The most significant new addition was TFI INTL INC, now representing 4.81% of the total fund value. They heavily accumulated shares in UNITEDHEALTH GROUP INC, increasing the position by 291.6%. The fund also reduced its exposure to WARRIOR MET COAL INC by 91.3%.
Position History
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Total Positions
51
Quarter
2026 Q1
Top Holding
WDC (12.3%)
Top 10 Concentration
54.4%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 51
Maple Rock Capital Partners Inc. Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
WDC
WESTERN DIGITAL...
|
Technology | 12.32% | 13.55% |
#1
Prev: #1
|
6.0 |
—
|
-981,091 | -41.2% |
P
S
|
1,400,434 | $378,803,393 |
$42.70
+1034.1%
|
2016 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
EQX
EQUINOX GOLD CO...
|
Basic Materials | 9.14% | 9.39% |
#2
Prev: #2
|
5.7 |
—
|
-809,400 | -4.0% |
P
S
|
19,424,648 | $280,786,442 |
$7.69
+57.7%
|
2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
STX
SEAGATE TECHNOL...
|
Technology | 6.81% | 6.06% |
#3
Prev: #3
|
4.2 |
—
|
-131,867 | -19.8% |
P
S
|
533,985 | $209,193,964 |
$113.49
+616.1%
|
2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
CLF
CLEVELAND-CLIFF...
|
Basic Materials | 5.70% | 5.42% |
#4
1
Prev: #5
|
5.8 |
—
|
8,387,327 | 67.9% |
P
S
|
20,745,557 | $175,299,957 | 2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TFII
TFI INTL INC
|
Industrials | 4.81% | — |
#5
Prev: #—
|
5.9 |
—
|
1,361,831 | — |
NEW
|
1,361,831 | $147,935,702 | 2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BKD
BROOKDALE SR LI...
|
Healthcare | 3.63% | 3.03% |
#6
4
Prev: #10
|
2.0 |
—
|
-339,900 | -4.0% |
P
S
|
8,157,148 | $111,589,785 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SNDK
SANDISK CORP
|
Technology | 3.44% | 3.83% |
#7
Prev: #7
|
1.4 |
—
|
-321,800 | -65.9% |
P
S
|
166,500 | $105,784,110 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BTI
BRITISH AMERN T...
|
Consumer Defensive | 3.02% | 3.10% |
#8
1
Prev: #9
|
1.7 |
—
|
-66,200 | -4.0% |
P
S
|
1,589,100 | $92,914,677 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
JD
JD.COM INC
|
Consumer Cyclical | 2.91% | 1.82% |
#9
10
Prev: #19
|
4.2 |
—
|
1,106,100 | 57.6% |
P
S
|
3,026,262 | $89,486,567 | 2023 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LPX
LOUISIANA PAC C...
|
Industrials | 2.63% | 1.57% |
#10
11
Prev: #21
|
4.1 |
—
|
523,691 | 88.9% |
P
S
|
1,112,559 | $80,938,667 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CVS
CVS HEALTH CORP
|
Healthcare | 2.45% | 2.14% |
#11
6
Prev: #17
|
3.5 |
—
|
231,700 | 28.4% |
P
S
|
1,048,100 | $75,274,542 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MT
ARCELORMITTAL S...
|
Basic Materials | 2.39% | 2.45% |
#12
3
Prev: #15
|
1.5 |
—
|
-216,335 | -13.3% |
P
S
|
1,414,265 | $73,513,495 | 2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AAP
ADVANCE AUTO PA...
|
Consumer Cyclical | 2.23% | 1.76% |
#13
7
Prev: #20
|
1.4 |
—
|
-54,100 | -4.0% |
P
S
|
1,298,140 | $68,476,885 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ASTL
ALGOMA STL GROU...
|
Basic Materials | 2.14% | 1.95% |
#14
4
Prev: #18
|
2.9 |
—
|
1,500,000 | 10.4% |
P
S
|
15,930,818 | $65,794,278 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
XPO
XPO INC
|
Industrials | 2.03% | — |
#15
Prev: #—
|
4.3 |
—
|
320,242 | — |
NEW
|
320,242 | $62,303,081 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LKQ
LKQ CORP
|
Consumer Cyclical | 1.97% | 1.04% |
#16
15
Prev: #31
|
3.8 |
—
|
1,018,465 | 97.3% |
P
S
|
2,065,565 | $60,665,644 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AA
ALCOA CORP
|
Basic Materials | 1.95% | 5.73% |
#17
13
Prev: #4
|
0.8 |
—
|
-2,359,980 | -72.3% |
P
S
|
903,320 | $59,917,216 | 2017 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
HUM
HUMANA INC
|
Healthcare | 1.95% | 1.46% |
#18
4
Prev: #22
|
3.8 |
—
|
172,100 | 99.7% |
P
S
|
344,800 | $59,784,872 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
UNH
UNITEDHEALTH GR...
|
Healthcare | 1.90% | 0.60% |
#19
15
Prev: #34
|
3.8 |
—
|
160,400 | 291.6% |
P
S
|
215,400 | $58,285,086 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LYFT
LYFT INC
|
Technology | 1.78% | 2.75% |
#20
6
Prev: #14
|
1.2 |
—
|
-171,900 | -4.0% |
P
S
|
4,124,703 | $54,858,550 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
WAB
WABTEC
|
Industrials | 1.75% | — |
#21
Prev: #—
|
4.2 |
—
|
215,400 | — |
NEW
|
215,400 | $53,830,614 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ASO
ACADEMY SPORTS ...
|
Consumer Cyclical | 1.54% | — |
#22
Prev: #—
|
4.1 |
—
|
840,000 | — |
NEW
|
840,000 | $47,418,000 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
RKT
ROCKET COS INC
|
Financial Services | 1.45% | 1.16% |
#23
4
Prev: #27
|
3.6 |
—
|
1,313,700 | 72.2% |
P
S
|
3,133,200 | $44,648,100 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
NGVT
INGEVITY CORP
|
Basic Materials | 1.40% | 1.32% |
#24
1
Prev: #25
|
1.1 |
—
|
-71,413 | -10.6% |
P
S
|
603,303 | $42,973,273 | 2016 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
RUN
SUNRUN INC
|
Technology | 1.32% | 3.24% |
#25
17
Prev: #8
|
0.5 |
—
|
-2,320,848 | -43.6% |
P
S
|
3,002,100 | $40,708,476 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ARCB
ARCBEST CORP
|
Industrials | 1.29% | 0.35% |
#26
11
Prev: #37
|
3.5 |
—
|
260,596 | 181.3% |
P
S
|
404,346 | $39,771,473 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GT
GOODYEAR TIRE &...
|
Consumer Cyclical | 1.25% | 1.15% |
#27
1
Prev: #28
|
3.0 |
—
|
1,844,517 | 46.4% |
P
S
|
5,817,063 | $38,567,128 | 2021 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TPB
TURNING PT BRAN...
|
Consumer Defensive | 1.23% | 1.43% |
#28
5
Prev: #23
|
2.5 |
—
|
36,700 | 9.2% |
P
S
|
436,000 | $37,840,440 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ICLR
ICON PLC
|
Healthcare | 1.21% | — |
#29
Prev: #—
|
4.0 |
—
|
335,300 | — |
NEW
|
335,300 | $37,104,298 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BTG
B2GOLD CORP
|
Basic Materials | 1.20% | — |
#30
Prev: #—
|
4.0 |
—
|
8,158,600 | — |
NEW
|
8,158,600 | $36,958,458 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
THO
THOR INDS INC
|
Consumer Cyclical | 1.20% | 0.58% |
#31
4
Prev: #35
|
3.5 |
—
|
291,100 | 170.5% |
P
S
|
461,864 | $36,898,315 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
WGO
WINNEBAGO INDS ...
|
Consumer Cyclical | 1.18% | — |
#32
Prev: #—
|
4.0 |
—
|
1,169,831 | — |
NEW
|
1,169,831 | $36,253,063 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
RYAM
RAYONIER ADVANC...
|
Basic Materials | 1.17% | — |
#33
Prev: #—
|
4.0 |
—
|
3,256,889 | — |
NEW
|
3,256,889 | $36,053,761 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LVS
LAS VEGAS SANDS...
|
Consumer Cyclical | 1.16% | 2.97% |
#34
23
Prev: #11
|
0.5 |
—
|
-718,023 | -52.0% |
P
S
|
662,824 | $35,712,957 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
WHR
WHIRLPOOL CORP
|
Consumer Cyclical | 1.04% | 0.96% |
#35
3
Prev: #32
|
2.9 |
—
|
189,200 | 46.8% |
P
S
|
593,200 | $31,985,344 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MOH
MOLINA HEALTHCA...
|
Healthcare | 0.74% | 1.30% |
#36
10
Prev: #26
|
0.3 |
—
|
-56,500 | -25.0% |
P
S
|
169,700 | $22,621,010 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CNC
CENTENE CORP DE...
|
Healthcare | 0.70% | 1.37% |
#37
13
Prev: #24
|
0.3 |
—
|
-354,620 | -35.1% |
P
S
|
656,579 | $21,496,396 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
KNX
KNIGHT-SWIFT TR...
|
Industrials | 0.69% | — |
#38
Prev: #—
|
3.8 |
—
|
366,095 | — |
NEW
|
366,095 | $21,079,750 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
NUE
NUCOR CORP
|
Basic Materials | 0.64% | — |
#39
Prev: #—
|
3.8 |
—
|
117,212 | — |
NEW
|
117,212 | $19,820,549 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
FBIN
FORTUNE BRANDS ...
|
Industrials | 0.62% | — |
#40
Prev: #—
|
3.7 |
—
|
485,782 | — |
NEW
|
485,782 | $18,930,925 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ELV
ELEVANCE HEALTH...
|
Healthcare | 0.59% | — |
#41
Prev: #—
|
3.7 |
—
|
62,000 | — |
NEW
|
62,000 | $18,150,500 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
WERN
WERNER ENTERPRI...
|
Industrials | 0.53% | 0.79% |
#42
9
Prev: #33
|
0.2 |
—
|
-240,133 | -30.3% |
P
S
|
553,367 | $16,274,523 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CAR
AVIS BUDGET GRO...
|
Industrials | 0.44% | — |
#43
Prev: #—
|
3.7 |
—
|
92,248 | — |
NEW
|
92,248 | $13,454,371 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
HCC
WARRIOR MET COA...
|
Basic Materials | 0.43% | 4.77% |
#44
38
Prev: #6
|
0.2 |
—
|
-1,494,179 | -91.3% |
P
S
|
143,059 | $13,325,946 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
UWMC
UWM HOLDINGS CO...
|
Financial Services | 0.00% | 0.32% |
Sold All 😨
(Was: #38) |
0.0 |
—
|
-2,204,100 | -100.0% |
CLOSED
|
— | $— | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
JBS N.V.
|
|
Unknown | 0.00% | 0.47% |
Sold All 😨
(Was: #36) |
0.0 |
—
|
-985,106 | -100.0% |
CLOSED
|
— | $— | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
PAGS
PAGSEGURO DIGIT...
|
Technology | 0.00% | 1.07% |
Sold All 😨
(Was: #30) |
0.0 |
—
|
-3,365,400 | -100.0% |
CLOSED
|
— | $— | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PDD
PDD HOLDINGS IN...
|
Consumer Cyclical | 0.00% | 1.15% |
Sold All 😨
(Was: #29) |
0.0 |
—
|
-306,641 | -100.0% |
CLOSED
|
— | $— | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TECK
TECK RESOURCES ...
|
Basic Materials | 0.00% | 2.20% |
Sold All 😨
(Was: #16) |
0.0 |
—
|
-1,393,516 | -100.0% |
CLOSED
|
— | $— | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
B
BARRICK MNG COR...
|
Basic Materials | 0.00% | 2.86% |
Sold All 😨
(Was: #13) |
0.0 |
—
|
-1,991,400 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 |
Showing 1-50 of 51 holdings