Milfam LLC
Milfam LLC reported 14 US-listed holdings worth $144.5 million in its 13F for the quarter ended 30 September 2026, filed 13 October 2026. Its largest: Nextnav Inc. (32.5%), Pg&E Corp. (27.4%) and Altice USA Inc. (13.4%). Against the quarter before, it opened 4 positions, added to 3, trimmed 0 and sold out of 1.
The 14 largest of its 14 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q2 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned -21.3% over the 2 quarters to 30 September 2026, against +17.3% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 30 June 2026; a change under 0.1% of a position counts as held
Opened 4
- Spring Valley Acquisition Corp III GFUZ$12.1 million
- Cognizant Technology Solutions Corp. CTSH$3.4 million
- Accenture plc ACN$2.5 million
- Epam Systems, Inc. EPAM$153,221
Added to 3
- Pg&E Corp. PCG+1.6 million shares · +97%
- Viasat Inc. VSAT+94,800 shares · +3160%
- Altice USA Inc. OPTU+3.6 million shares · +23%
Sold out of 1
- Seadrill 2021 Ltd SDRL$1.5 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Nextnav Inc. NN | 3.3M | $47.0 million | 32.53% | no change |
| Pg&E Corp. PCG | 3.2M | $39.6 million | 27.39% | +1.6M |
| Altice USA Inc. OPTU | 19.5M | $19.3 million | 13.39% | +3.6M |
| Spring Valley Acquisition Corp III GFUZ | 1.9M | $12.1 million | 8.40% | new |
| Scully Royalty Ltd SRL | 2.0M | $10.3 million | 7.14% | no change |
| Viasat Inc. VSAT | 97.8K | $6.9 million | 4.76% | +94.8K |
| Cognizant Technology Solutions Corp. CTSH | 59.2K | $3.4 million | 2.35% | new |
| Accenture plc ACN | 13.8K | $2.5 million | 1.75% | new |
| Ares Management Corp. ARES | 15.0K | $1.7 million | 1.21% | no change |
| Apollo Global Management, Inc. APO | 7.5K | $870,450 | 0.60% | no change |
| Energy Recovery Inc. ERII | 75.0K | $500,250 | 0.35% | no change |
| Epam Systems, Inc. EPAM | 1.4K | $153,221 | 0.11% | new |
| Invesco Exchange Traded FD T RSP | 100 | $20,802 | 0.01% | no change |
| Blackstone Seni Fltn Rat 202 BSL | 2 | $26 | 0.00% | no change |
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Change is shares against its 13F for the quarter before; the 1 it sold out of are in the box above.Options it reported
| Company | Option | Shares under the options | Value of those shares |
|---|---|---|---|
| Pg&E Corp. PCG | Calls | 4.2K | $212,500 |
1 option lines. A 13F lists calls and puts by the shares they cover and what those shares were worth at the quarter's end, not what the options cost; they are not counted in the holdings above.