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ALPINE ASSOCIATES MANAGEMENT INC.

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13F filer, CIK 1396835, PALM BEACH, FL

ALPINE ASSOCIATES MANAGEMENT INC. reported $1,503,620,446 across 67 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-05. Its ten largest share positions make up 53.79% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001396835-26-000002

Period
2025-12-31
Reported value
$1.5B
Holdings
67
Top 10 weight
53.79%
New
40
Sold out
40

Stakes and trades reported after 2025-12-31

13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.

  • SANG SANGOMA TECHNOLOGIES CORP: 13G 2,008,500 shares, 6.04% of the class, 13G filed 2026-10-07, 0001172661-26-004424Timeline
    Accepted , ingested

Largest buys vs the previous quarter

SecurityShares changeApprox. value
EXASnew+805,500$81.8M
NGDnew+9,363,161$81.6M
ALadded+1,070,853$68.8M
BAnew+294,701$64M
RNAMnew+867,530$62.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
VERONA PHARMA PLCexited-1,157,050-$123M
Kexited-1,312,677-$108M
SPRexited-2,634,904-$102M
MR COOPER GROUP INCexited-406,140-$86.6M
MERUS N Vexited-835,600-$78.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001396835-26-000002, largest first. % of portfolio is the value over $1,485,383,934, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
NSCNORFOLK SOUTHN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 502,610 shares; 2025Q4: 468,155 shares 468,155$135M9.1%-34,455Timeline
GTLSCHART INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 73,751 shares; 2025Q3: 509,110 shares; 2025Q4: 430,936 shares 430,936$88.9M5.98%-78,174Timeline
CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 204,150 shares; 2025Q4: 190,355 shares 190,355$84.9M5.72%-13,795
EXASEXACT SCIENCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 805,500 shares 805,500$81.8M5.51%newTimeline
NGDNEW GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 9,363,161 shares 9,363,161$81.6M5.49%newTimeline
FYBRFRONTIER COMMUNICATIONS PAREQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 277,380 shares; 2024Q4: 1,042,630 shares; 2025Q1: 1,604,844 shares; 2025Q2: 1,863,230 shares; 2025Q3: 2,063,147 shares; 2025Q4: 1,911,556 shares 1,911,556$72.8M4.9%-151,591Timeline
ALAIR LEASE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 47,803 shares; 2025Q4: 1,118,656 shares 1,118,656$71.9M4.84%+1,070,853Timeline
BABOEING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 60,900 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 294,701 shares 294,701$64M4.31%newTimeline
RNAMAVIDITY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 867,530 shares 867,530$62.6M4.21%newTimeline
EAELECTRONIC ARTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 106,000 shares; 2025Q4: 271,400 shares 271,400$55.5M3.73%+165,400Timeline
CDTXCIDARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 208,560 shares 208,560$46.1M3.1%newTimeline
KVUEKENVUE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,158,626 shares 2,158,626$37.2M2.51%newTimeline
QRVOQORVO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 415,059 shares 415,059$35.1M2.36%newTimeline
HOLXHOLOGIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 435,350 shares 435,350$32.4M2.18%newTimeline
TXNMTXNM ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 194,800 shares; 2025Q3: 363,508 shares; 2025Q4: 506,807 shares 506,807$29.8M2.01%+143,299Timeline
BHFBRIGHTHOUSE FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 97,175 shares; 2025Q3: not reported; 2025Q4: 372,683 shares 372,683$24.1M1.63%newTimeline
DAYDAYFORCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 153,962 shares; 2025Q4: 334,426 shares 334,426$23.1M1.56%+180,464Timeline
LBRDKLIBERTY BROADBAND CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 508,700 shares; 2025Q4: 474,349 shares 474,349$23.1M1.55%-34,351Timeline
SSTKSHUTTERSTOCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 599,955 shares; 2025Q2: 731,086 shares; 2025Q3: 902,461 shares; 2025Q4: 1,154,955 shares 1,154,955$22.1M1.49%+252,494Timeline
CMACOMERICA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 240,376 shares 240,376$20.9M1.41%newTimeline
CTLPCANTALOUPE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,096,700 shares; 2025Q3: 1,934,206 shares; 2025Q4: 1,910,357 shares 1,910,357$20.3M1.37%-23,849Timeline
PRAPROASSURANCE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 221,300 shares; 2025Q2: 548,740 shares; 2025Q3: 952,547 shares; 2025Q4: 835,890 shares 835,890$20.2M1.36%-116,657Timeline
HOUSANYWHERE REAL ESTATE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 667,320 shares; 2025Q4: 1,397,243 shares 1,397,243$19.8M1.33%+729,923Timeline
TGNATEGNA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 768,370 shares; 2025Q4: 956,367 shares 956,367$18.6M1.25%+187,997Timeline
CFLTCONFLUENT INC-CLASS AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 610,500 shares 610,500$18.5M1.24%newTimeline
SEESEALED AIR CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 427,100 shares 427,100$17.7M1.19%newTimeline
HIHILLENBRAND INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 548,200 shares 548,200$17.4M1.17%newTimeline
WBDWARNER BROS DISCOVERY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 570,000 shares 570,000$16.4M1.11%newTimeline
FOLDAMICUS THERAPEUTICQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 949,200 shares 949,200$13.5M0.91%newTimeline
JHGJANUS HENDERSON GROUP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 260,042 shares 260,042$12.4M0.83%newTimeline
REVGREV GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 202,491 shares 202,491$12.3M0.83%newTimeline
JAMFJAMF HOLDING CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 940,798 shares 940,798$12.2M0.82%newTimeline
AMWDAMERICAN WOODMARK CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 209,424 shares; 2025Q4: 226,833 shares 226,833$12.2M0.82%+17,409Timeline
AVADEL PHARMACEUTICALSAVADEL PHARMACEUTICALSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 525,550 shares 525,550$11.3M0.76%new
RKTROCKET COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 574,254 shares 574,254$11.1M0.75%newTimeline
STAASTAAR SURGICAL COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 913,087 shares; 2025Q4: 466,607 shares 466,607$10.8M0.73%-446,480Timeline
SEMRSEMRUSH HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 879,994 shares 879,994$10.5M0.7%newTimeline
SOHO HOUSE & CO INCSOHO HOUSE & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,096,199 shares; 2025Q4: 1,160,256 shares 1,160,256$10.4M0.7%+64,057
VECOVEECO INSTRS INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 353,400 shares 353,400$10.1M0.68%newTimeline
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 728,922 shares 728,922$9.54M0.64%new
SNVSYNOVUS FINANCIAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 204,100 shares; 2025Q4: 190,312 shares 190,312$9.53M0.64%-13,788Timeline
ASPEN INSURANCE HOLDINGS-AASPEN INSURANCE HOLDINGS-AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 216,401 shares; 2025Q4: 252,487 shares 252,487$9.37M0.63%+36,086
CWANCLEARWATER ANALYTICS HLDGS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 385,000 shares 385,000$9.29M0.63%newTimeline
SIMOSILICON MOTION TECHNOLOGY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 340,797 shares; 2024Q4: 330,705 shares; 2025Q1: 334,305 shares; 2025Q2: 332,005 shares; 2025Q3: 247,450 shares; 2025Q4: 79,976 shares 79,976$7.41M0.5%-167,474Timeline
DVAXDYNAVAX TECHNOLOGIES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 475,000 shares 475,000$7.31M0.49%newTimeline
IMXIINTERNATIONAL MONEY EXPRESSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 418,592 shares; 2025Q4: 390,333 shares 390,333$6M0.4%-28,259Timeline
DBRGDIGITALBRIDGE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 380,000 shares 380,000$5.83M0.39%newTimeline
GUESS? INCGUESS? INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 345,397 shares; 2025Q4: 322,209 shares 322,209$5.4M0.36%-23,188
TWOTWO HARBORS INVENTMENT CORPOQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 474,600 shares 474,600$4.98M0.34%newTimeline
ALEXALEXANDER & BALDWIN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 228,294 shares 228,294$4.71M0.32%newTimeline
FRGEFORGE GLOBAL HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 98,107 shares 98,107$4.37M0.29%newTimeline
PLYMPLYMOUTH INDUSTRIAL REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 194,699 shares; 2025Q4: 181,555 shares 181,555$3.97M0.27%-13,144Timeline
PCHPOTLATCHDELTIC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 95,600 shares 95,600$3.8M0.26%newTimeline
CSGSCSG SYS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 47,500 shares 47,500$3.64M0.25%newTimeline
UDMYUDEMY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 569,800 shares 569,800$3.33M0.22%newTimeline
SUNCSUNOCOCORP LLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 57,376 shares 57,376$2.83M0.19%newTimeline
CIVICIVITAS RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 94,700 shares 94,700$2.57M0.17%newTimeline
QCOMQUALCOMM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 14,403 shares 14,403$2.46M0.17%newTimeline
THSTREEHOUSE FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 94,750 shares 94,750$2.24M0.15%newTimeline
EBEVENTBRITE INC-CLASS AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 500,000 shares 500,000$2.23M0.15%newTimeline
AXTAAXALTA COATING SYS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 47,400 shares 47,400$1.53M0.1%newTimeline
SEMLER SCIENTIFIC INCSEMLER SCIENTIFIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 95,600 shares; 2025Q4: 95,600 shares 95,600$1.46M0.1%0
GEN DIGITAL INCGEN DIGITAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 379,348 shares; 2025Q3: 379,348 shares; 2025Q4: 329,465 shares 329,465$1.45M0.1%-49,883
IAGIAMGOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 69,482 shares 69,482$1.15M0.08%newTimeline
STRIVE INCSTRIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 286,615 shares; 2025Q4: 459,475 shares 459,475$339K0.02%+172,860
GETYGETTY IMAGES HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 94,500 shares 94,500$127K0.01%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
TECKTECK RESOURCES LTD Stockcall380,800$18.2M+42,100

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
VERONA PHARMA PLCVERONA PHARMA PLC1,157,050$123Mshares
KKELLANOVA1,312,677$108Mshares
SPRSPIRIT AEROSYSTEMS HLDGS INC2,634,904$102Mshares
MR COOPER GROUP INCMR COOPER GROUP INC406,140$86.6Mshares
MERUS N VMERUS N V835,600$78.7Mshares
INTERPUBLIC GROUP COSINTERPUBLIC GROUP COS1,913,244$53.4Mshares
Sandstorm Gold LtdSandstorm Gold Ltd3,767,815$47.2Mshares
INFORMATICA INCINFORMATICA INC1,683,653$41.8Mshares
ALEALLETE INC520,018$34.5Mshares
WNS HLDGS LTD COM SHSWNS HLDGS LTD COM SHS358,050$27.3Mshares
AVIDXCHANGE HOLDINGS INCAVIDXCHANGE HOLDINGS INC2,255,100$22.4Mshares
CUREVAC N VCUREVAC N V2,295,422$12.4Mshares
SCSSTEELCASE INC-CLASS A719,300$12.4Mshares
ARIS WATER SOLUTIONS INCARIS WATER SOLUTIONS INC474,609$11.7Mshares
TELUS INTL CDA INCTELUS INTL CDA INC2,500,000$11.2Mshares
CCRNCROSS CTRY HEALTHCARE INC770,029$10.9Mshares
MTSRMETSERA INC195,200$10.2Mshares
CORZCORE SCIENTIFIC INC NEW547,600$9.82Mshares
Tourmaline Bio IncTourmaline Bio Inc196,177$9.38Mshares
VERINT SYS INCVERINT SYS INC455,100$9.22Mshares
POTBELLY CORPPOTBELLY CORP524,296$8.93Mshares
PROPROS Holdings Inc371,408$8.51Mshares
ZIMVIE INCZIMVIE INC423,000$8.01Mshares
89BIO INC89BIO INC529,800$7.79Mshares
PERFORMANT HEALTHCARE INCPERFORMANT HEALTHCARE INC969,869$7.5Mshares
MRC GLOBAL INCMRC GLOBAL INC509,400$7.35Mshares
VIMEO INCVIMEO INC921,885$7.14Mshares
Vital Energy IncVital Energy Inc392,555$6.63Mshares
INTEGRAL AD SCIENCE HLDNG COINTEGRAL AD SCIENCE HLDNG CO641,140$6.52Mshares
SCPHARMACEUTICALS INCSCPHARMACEUTICALS INC961,065$5.45Mshares
WIDEOPENWEST INCWIDEOPENWEST INC1,025,400$5.29Mshares
SAPIENS INTL CORP N V SHSSAPIENS INTL CORP N V SHS121,339$5.22Mshares
PAASPAN AMERN SILVER CORP120,616$4.67Mshares
TASKTASKUS INC242,222$4.32Mshares
PREMIER INCPREMIER INC124,357$3.46Mshares
VERITEX HLDGS INCVERITEX HLDGS INC102,600$3.44Mshares
HANESBRANDS INCHANESBRANDS INC408,340$2.69Mshares
PGREPARAMOUNT GROUP INC307,363$2.01Mshares
HNIHNI CORP39,100$1.83Mshares
SUNSUNOCO LP/SUNOCO FIN CORP4,457$223Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001396835-26-000002 base2026-02-05acceptance time not in the bulk data set