Skylands Capital, LLC

Hedge Fund • Multi-Strategy

Skylands Capital, LLC is a Multi-Strategy Hedge Fund based in Milwaukee, WI led by Virginia Elizabeth Shaffar, reporting $724.4M in AUM as of Q3 2025 with UNP as the largest holding (7% allocation).

PresidentVirginia Elizabeth Shaffar

Portfolio Value: $723.8M
Positions: 153
Top Holding: UNP at 7.33%
Last Reported: Q3 2025

Address1200 North Mayfair Road, Suite 250, Milwaukee, WI, 53226-3287, United States

Top Holdings

Largest long holdings in Skylands Capital, LLC's portfolio (38.3% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Union Pacific UNP	Railroads Industrials	$53.0M	7.33%	-$638.2K Sold	0.04% 224.4K shares	≤ Q2 2013 Held for 12y 5m+
2 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$44.7M	6.17%	-$7.3M Sold	0.00% 183.7K shares	Q2 2018 Held for 7y 5m
3 General Motors GM	Auto - Manufacturers Consumer Cyclical	$29.3M	4.05%	-$3.4M Sold	0.05% 480.7K shares	≤ Q2 2013 Held for 12y 5m+
4 Diebold Nixdorf DBD	Software - Application Technology	$27.7M	3.83%	-$2.7M Sold	1.33% 486.5K shares	Q3 2023 Held for 2y 2m
5 Apple AAPL	Consumer Electronics Technology	$27.4M	3.78%	-$4.5M Sold	0.00% 107.6K shares	≤ Q2 2013 Held for 12y 5m+
6 Crown Castle CCI	REIT - Specialty Real Estate	$23.8M	3.29%	+$888.7K Bought	0.06% 246.8K shares	≤ Q2 2013 Held for 12y 5m+
7 Oshkosh OSK	Agricultural - Machinery Industrials	$18.9M	2.61%	-$2.5M Sold	0.23% 145.8K shares	≤ Q2 2013 Held for 12y 5m+
8 Cornerstone Building Brands CNR	Unknown Unknown	$18.5M	2.56%	-$1.3M Sold	— 222.0K shares	Q1 2025 Held for 8 months
9 Norfolk Southern NSC	Railroads Industrials	$17.9M	2.48%	+$674.4K Bought	0.03% 59.7K shares	≤ Q2 2013 Held for 12y 5m+
10 SBA Communications SBAC	REIT - Specialty Real Estate	$16.3M	2.25%	+$6.8M Bought	0.08% 84.1K shares	Q4 2014 Held for 10y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Skylands Capital, LLC's latest filing

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Market Value

$723.8M

Prior: $689.5M

Q/Q Change

+4.97%

+$34.3M

Net Flows % of MV

-4.56%

Turnover Ratio

9.63%

New Purchases

9 stocks

$7.0M

Added To

42 stocks

+$45.2M

Sold Out Of

10 stocks

$4.0M

Reduced Holdings

91 stocks

-$81.3M

Increased Positions

Position	Shares Δ	Change
1 Albany International Inc. AIN	New	0 → 37.4K +$2.0M
2 Silgan Holdings SLGN	New	0 → 38.2K +$1.6M
3 Regeneron Pharmaceuticals REGN	New	0 → 2.1K +$1.2M
4 John B. Sanfilippo & Son JBSS	New	0 → 7.1K +$457.9K
5 The Manitowoc Company MTW	New	0 → 43.1K +$431.6K

Decreased Positions

Position	Shares Δ	Change
1 Neogen NEOG	Sold	234.9K → 0 −$1.1M
2 DDI DoubleDown Interactive Co., Ltd. DDI	Sold	89.0K → 0 −$851.7K
3 Mohawk Industries MHK	Sold	4.0K → 0 −$414.1K
4 QXO, Inc. QXO	Sold	17.5K → 0 −$377.0K
5 Aspen Aerogels ASPN	Sold	54.8K → 0 −$324.4K

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Analytics

Portfolio insights and performance metrics for Skylands Capital, LLC

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Sector Allocation

Industrials

26.50%

Technology

13.50%

Consumer Cyclical

10.30%

Communication Services

8.80%

Healthcare

8.20%

Basic Materials

6.90%

Real Estate

6.60%

Financial Services

6.30%

Consumer Defensive

3.40%

Energy

3.20%

ETF

1.50%

Market Cap Distribution

Mega Cap (> $200B)

17.06%

Large Cap ($10B - $200B)

43.04%

Mid Cap ($2B - $10B)

19.85%

Small Cap ($300M - $2B)

8.36%

Micro Cap ($50M - $300M)

3.83%

Nano Cap (< $50M)

4.55%

N/A (ETF or Unknown)

3.30%

Portfolio Concentration

Top 10 Holdings %

38.35%

Top 20 Holdings %

54.05%

Top 50 Holdings %

80.39%

Top 100 Holdings %

97.11%