13F Insight
DOSSIER · 13F-HR · Q1 2026

Progeny 3, Inc.

$1.9B in tracked AUM across 32 positions as of Q1 2026.

P3
CIK 0001536006 · last filed Mar 31, 2026
Total AUM
$1.9B
as of Q1 2026
Holdings
32
—
positions
Whale Score
70
70
strong
Activity
—
no data
changes this Q
AI Analysis · Q1 2026
Comprehensive Analysis of Progeny 3, Inc. SEC 13F Filing
1. Portfolio Overview

Progeny 3, Inc. manages a concentrated portfolio valued at approximately $1.37 billion as of September 30, 2025. The fund underwent a significant contraction in asset value, decreasing by 23.2% from the previous quarter's $1.78 billion. This reduction is attributable to a combination of market depreciation and active capital reallocation, evidenced by the exiting of 14 positions.

The portfolio is charac...

2. Key Holdings

The portfolio is anchored by two nearly equal "pillar" positions, which dominate the risk profile:

  • Cameco Corp (CCJ): Representing 14.96% of the portfolio ($204.85M), this is the largest holding. As a major uranium producer, this indicates a significant strategic bet on the nuclear energy fuel cycle.
  • Acuren Corp (TIC): This position is virtually identical in size to Cameco at 14.83% ($203.05M). Acuren provides inspection and engineering services, suggesting a tilt toward specialized industrial infrastructure.
  • Interactive Brokers (IBKR): The third-largest holding at 10.69% ($146.32M) provides significant exposure to the financial sector, specifically the trading and brokerage ecosystem.

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
CCJ
CAMECO CORP
$255M2.3M13.6%02
IBKR
INTERACTIVE BROKERS GROUP IN
$147M2.2M7.9%03
APG
API GROUP CORP
$143M3.5M7.7%04
TIC
TIC SOLUTIONS INC
$101M15.3M5.4%05
IVV
ISHARES TR
$91M139K4.9%06
ARLP
ALLIANCE RESOURCE PARTNERS L
$89M3.2M4.8%07
SSNC
SS&C TECHNOLOGIES HLDGS INC
$85M1.3M4.5%08
GFL
GFL ENVIRONMENTAL INC
$81M1.9M4.3%09
MLM
MARTIN MARIETTA MATLS INC
$67M113K3.6%10
EQT
EQT CORP
$64M1.0M3.4%

Filing history

2026Q1Mar 31
$1.9B▲ 0.6%
32 positionsView →2025Q4Dec 31
$1.9B▲ 35.7%
37 positionsView →2025Q3Sep 30
$1.4B▼ 23.2%
22 positionsView →2025Q2Jun 30
$1.8B▲ 22.7%
30 positionsLocked2025Q1Mar 31
$1.5B▲ 15.4%
30 positionsLocked2024Q4Dec 31
$1.3B▲ 5.8%
32 positionsLocked2024Q3Sep 30
$1.2B▲ 14.1%
34 positionsLocked2024Q2Jun 30
$1.0B▲ 14.8%
29 positionsLocked2024Q1Mar 31
$909M▲ 12.7%
26 positionsLocked2023Q4Dec 31
$806M▲ 10.0%
23 positionsLocked2023Q3Sep 30
$733M▲ 11.1%
21 positionsLocked2023Q2Jun 30
$660M▲ 11.9%
23 positionsLocked
Showing 12 of 55