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Ancient Art, L.P.

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13F filer, CIK 1426749, AUSTIN, TX

Ancient Art, L.P. reported $442,081,058 across 11 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 97.86% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001426749-26-000001

Period
2025-12-31
Reported value
$442M
Holdings
11
Top 10 weight
97.86%
New
0
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
TBBBadded+253,320$8.46M
UPWKadded+372,147$7.38M
THRYadded+251,449$1.52M
STLAadded+50,000$544K

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
INMDexited-956,630-$14.3M
ECHOreduced-100,000-$10.9M
ULCCreduced-700,000-$3.3M
VLRSreduced-207,381-$1.84M

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 0001426749-26-000001, largest first. % of portfolio is the value over $442,081,058, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
IBKRINTERACTIVE BROKERS GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 456,364 shares; 2024Q4: 445,909 shares; 2025Q1: 410,909 shares; 2025Q2: 1,643,636 shares; 2025Q3: 1,643,636 shares; 2025Q4: 1,643,636 shares 1,643,636$106M23.91%0Timeline
UPWKUPWORK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,339,684 shares; 2024Q4: 4,921,007 shares; 2025Q1: 3,782,135 shares; 2025Q2: 3,773,908 shares; 2025Q3: 4,268,667 shares; 2025Q4: 4,640,814 shares 4,640,814$92M20.81%+372,147Timeline
ECHOECHOSTAR 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: 666,389 shares; 2025Q3: 666,389 shares; 2025Q4: 566,389 shares 566,389$61.6M13.93%-100,000Timeline
ALLYALLY FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,237,990 shares; 2024Q4: 2,060,007 shares; 2025Q1: 1,008,399 shares; 2025Q2: 1,308,399 shares; 2025Q3: 1,308,399 shares; 2025Q4: 1,308,399 shares 1,308,399$59.3M13.4%0Timeline
STLASTELLANTIS N.VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,349,412 shares; 2024Q4: 3,349,412 shares; 2025Q1: 3,349,412 shares; 2025Q2: 3,449,412 shares; 2025Q3: 3,449,412 shares; 2025Q4: 3,499,412 shares 3,499,412$38.1M8.62%+50,000Timeline
LOMALOMA NEGRA C I A S A MTN 14Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,604,137 shares; 2024Q4: 1,503,275 shares; 2025Q1: 1,435,809 shares; 2025Q2: 1,435,809 shares; 2025Q3: 1,435,809 shares; 2025Q4: 1,435,809 shares 1,435,809$18.6M4.21%0Timeline
ULCCFRONTIER GROUP HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,527,721 shares; 2024Q4: 5,416,221 shares; 2025Q1: 4,530,833 shares; 2025Q2: 4,730,833 shares; 2025Q3: 4,283,803 shares; 2025Q4: 3,583,803 shares 3,583,803$16.9M3.82%-700,000Timeline
VLRSCONTROLADORA VUELA COMP DE AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,486,729 shares; 2024Q4: 1,486,729 shares; 2025Q1: 1,816,225 shares; 2025Q2: 1,960,574 shares; 2025Q3: 1,960,574 shares; 2025Q4: 1,753,193 shares 1,753,193$15.6M3.52%-207,381Timeline
TBBBBBB FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 53,222 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 138,317 shares; 2025Q4: 391,637 shares 391,637$13.1M2.96%+253,320Timeline
TBNTAMBORAN RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 437,142 shares; 2024Q4: 437,142 shares; 2025Q1: 437,142 shares; 2025Q2: 437,142 shares; 2025Q3: 437,142 shares; 2025Q4: 437,142 shares 437,142$11.9M2.69%0Timeline
THRYTHRYV 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: 230,443 shares; 2025Q3: 1,309,459 shares; 2025Q4: 1,560,908 shares 1,560,908$9.44M2.14%+251,449Timeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
INMDINMODE LTD956,630$14.3Mshares

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 0001426749-26-000001 base2026-02-17acceptance time not in the bulk data set