Crestview Partners II GP, L.P.

Key Holdings

The portfolio is dominated by Victory Capital Holdings (VCTR), which accounts for 78.73% of the total value, or approximately $266.61 million. Despite a reduction in shares, this remains the firm's primary bet. The second-largest holding is Select Energy Services Inc. (WTTR), representing the Energy sector with a value of $41.68 million (12.31% allocation). The third position is Camping World Holdings Inc. (CWH) in the Consumer Cyclical sector, valued at $30.34 million (8.96% allocation). Notably, the number of shares held in WTTR and CWH remained unchanged during the quarter, suggesting that the firm’s conviction in these smaller positions remains stable, even as they drastically reshaped their largest exposure.