VALUEWORKS LLC

Hedge Fund • Value

VALUEWORKS LLC is a Value-focused Hedge Fund based in New York City, NY led by Charles Spencer Lemonides, reporting $429.4M in AUM as of Q3 2025 with 58% concentrated in top 10 holdings.

Managing PartnerCharles Spencer Lemonides

Portfolio Value: $343.6M
Positions: 34
Top Holding: JOBY at 10.39%
Last Reported: Q3 2025

AddressOne World Trade, Suite 84g, New York City, NY, 10007, United States

Top Holdings

Largest long holdings in VALUEWORKS LLC's portfolio (58.2% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Joby Aviation JOBY	Airlines, Airports & Air Services Industrials	$35.7M	10.39%	-$2.4M Sold	0.26% 2.2M shares	Q1 2022 Held for 3y 8m
2 Valaris VAL	Oil & Gas Equipment & Services Energy	$23.1M	6.73%	-$116.4K Sold	0.67% 474.2K shares	Q2 2021 Held for 4y 5m
3 Mesabi Trust MSB	Steel Basic Materials	$19.8M	5.76%	-$267.4K Sold	5.16% 676.7K shares	≤ Q2 2013 Held for 12y 5m+
4 Micron Technology MU	Semiconductors Technology	$19.0M	5.52%	-$282.4K Sold	0.01% 113.4K shares	Q2 2021 Held for 4y 5m
5 Maui Land & Pineapple MLP	Real Estate - Services Real Estate	$18.5M	5.38%	+$377.6K Bought	5.03% 992.3K shares	≤ Q2 2013 Held for 12y 5m+
6 Rivian Automotive, Inc. RIVN	Auto - Manufacturers Consumer Cyclical	$18.2M	5.30%	-$76.8K Sold	0.10% 1.2M shares	Q2 2024 Held for 1y 5m
7 Tidewater TDW	Oil & Gas Equipment & Services Energy	$17.1M	4.98%	-$105.5K Sold	0.65% 320.6K shares	Q4 2020 Held for 4y 11m
8 Chord Energy CHRD	Oil & Gas Exploration & Production Energy	$16.7M	4.87%	-$988.4K Sold	0.29% 168.4K shares	Q4 2020 Held for 4y 11m
9 Air Lease AL	Rental & Leasing Services Industrials	$16.4M	4.78%	-$141.9K Sold	0.23% 258.3K shares	Q1 2022 Held for 3y 8m
10 MBIA MBI	Insurance - Specialty Financial Services	$15.4M	4.49%	-$1.2M Sold	4.10% 2.1M shares	≤ Q2 2013 Held for 12y 5m+

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Changes

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

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Market Value

$343.6M

Prior: $303.8M

Q/Q Change

+13.1%

+$39.8M

Net Flows % of MV

-1.74%

Turnover Ratio

1.68%

New Purchases

0 stocks

Added To

4 stocks

+$2.8M

Sold Out Of

0 stocks

Reduced Holdings

26 stocks

-$8.8M

Increased Positions

Position	Shares Δ	Change
1 Vital Energy VTLE	+63.65%	157.1K → 257.1K +$1.7M
2 United Natural Foods UNFI	+5.04%	370.0K → 388.6K +$701.8K
3 Maui Land & Pineapple MLP	+2.08%	972.1K → 992.3K +$377.6K
4 Hyster-Yale Materials Handling, Inc. HY	+0.12%	299.4K → 299.8K +$13.7K

Decreased Positions

Position	Shares Δ	Change
1 EQT Corporation EQT	-29.59%	53.5K → 37.7K −$861.8K
2 Mammoth Energy Services, Inc. TUSK	-14.68%	2.4M → 2.0M −$803.4K
3 MBIA MBI	-7.09%	2.2M → 2.1M −$1.2M
4 Joby Aviation JOBY	-6.25%	2.4M → 2.2M −$2.4M
5 Chord Energy CHRD	-5.58%	178.4K → 168.4K −$988.4K

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Analytics

Portfolio insights and performance metrics for VALUEWORKS LLC

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Sector Allocation

Industrials

24.60%

Energy

20.90%

Consumer Cyclical

11.10%

Technology

10.70%

Real Estate

8.80%

Financial Services

7.00%

Basic Materials

5.80%

Consumer Defensive

4.30%

Communication Services

2.70%

Healthcare

0.90%

Market Cap Distribution

Mega Cap (> $200B)

4.52%

Large Cap ($10B - $200B)

30.11%

Mid Cap ($2B - $10B)

34.56%

Small Cap ($300M - $2B)

23.83%

Micro Cap ($50M - $300M)

1.36%

Nano Cap (< $50M)

2.45%

N/A (ETF or Unknown)

3.17%

Portfolio Concentration

Top 10 Holdings %

58.21%

Top 20 Holdings %

86.66%

Top 50 Holdings %

100.0%

Top 100 Holdings %