F&V Capital Management, LLC

Despite the increase in the number of holdings, the portfolio exhibits a "barbell" structure in terms of position sizing. The top holding, Palantir Technologies, commands a massive 30.69% allocation, while the remaining 59 positions are significantly smaller, mostly ranging between 0.1% and 4.0%. This suggests a high-conviction approach toward a single primary idea, supported by a broad, diversified tail of smaller positions. The portfolio remains relatively small in institutional terms ($678K), indicative of a boutique or emerging manager.

2. Key Holdings