Equal-WT
WhaleScore 2.0
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Valueworks is based out of New York. Valueworks is a hedge fund with 98 clients and discretionary assets under management (AUM) of $312,114,211 (Form ADV from 2024-04-02). Their last reported 13F filing for Q4 2024 included $300,404,322 in managed 13F securities
and a top 10 holdings concentration of 54.43%. Valueworks's largest holding is Mesabi Trust with shares held of 778,501. Whalewisdom has at least 84 13F filings, and 15 13G filings
Business Description
ValueWorks LLC is a Registered Investment Advisor (RIA) that provides advisory services. They sponsor two Wrap Programs: The GMS Group, L.L.C. Wrap Fee Program and The Charles Schwab-ValueWorks Wrap Fee Program. ValueWorks is committed to acting in the best interests of its clients, providing suitable advice, full disclosure of potential conflicts of interest, and best execution of transactions.
Charles Lemonides is the sole owner of ValueWorks, which presents a potential conflict of interest as his opinion on the suitability of investments may be sought, and he personally benefits from client participation. ValueWorks has a policy to protect client interests and prioritize them in every situation.
Investment Strategy
ValueWorks employs a clearly defined research process to guide investment decisions, targeting securities believed to demonstrate attractive value. The process involves identifying securities that match investment criteria, focusing on opportunities misunderstood by the general market. The assets are then identified and appraised to determine the company’s underlying value, considering operating businesses, real-estate holdings, natural resources, and other assets. The quality of the assets is assessed to determine their likelihood of appreciation over time.
The investment strategy also includes assessing claims against a company’s assets and comparing the market price of the claims to the company’s underlying value. If a security trades at a discount, factors that could eliminate the valuation gap and increase its price are identified before making a purchase decision. Positions are continuously monitored to determine if the original investment thesis still applies, and positions are exited when a security reaches full valuation or changes invalidate the original thesis. Leverage may be used in accounts that pay performance fees, which can make portfolio performance more volatile.
Owners
- LEMONIDES, CHARLES, SPENCER - MANAGING MEMBER
- DEL POZZO, MARIO, JOHN - CHIEF COMPLIANCE OFFICER Click on the Ownership/Private Fund Data tab for more details.
Other Contact Information
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2024-12-31
Top Buys (13F)
Name | % Change |
---|---|
JOBY Joby Aviation Inc | 3.05% |
RIVN Rivian Automotive In | 1.7% |
MLP Maui Land & Pineappl | 0.65% |

2024-12-31
Top Sells (13F)
Name | % Change |
---|---|
CHRD Chord Energy Corp | 1.38% |
TDW Tidewater Inc | 1.37% |
VAL Valaris Ltd | 1.36% |
TUSK Mammoth Energy Servi | 1.26% |
HY Hyster Yale Inc | 1.16% |

2024-12-31
13F Holdings Summary
Name | $ Change |
---|---|
MSB Mesabi Trust | 7.28% |
CHRD Chord Energy Corp | 6.84% |
JOBY Joby Aviation Inc | 6.33% |
MLP Maui Land & Pineappl | 5.88% |
RIVN Rivian Automotive In | 5.48% |

2024-12-31
13F Activity
Market Value | $300m, Prior: $314m |
Inflows (Outflows) as % of Total MV | (-5.7873)% |
New Purchases | 0 stocks |
Added To | 3 stocks |
Sold out of | 0 stocks |
Reduced holdings in | 27 stocks |
Top 10 Holdings % | 54.43% |
Turnover %[1] | 0% |
Turnover Alt %[2] | 2.11% |
Time Held Top 20 | 12.9 quarters |
Time Held Top 10 | 5.8 quarters |
Time Held All | 25.62 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

2024-12-31
13F Sector Allocation Over Time
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2024-12-31
Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2024-12-31