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Flat Footed LLC

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13F filer, CIK 1799456, WILSON, WY

Flat Footed LLC reported $914,804,075 across 28 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 94.55% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001799456-26-000005

Period
2025-12-31
Reported value
$915M
Holdings
28
Top 10 weight
94.55%
New
12
Sold out
7

Largest buys vs the previous quarter

SecurityShares changeApprox. value
RMRadded+777,129$11.6M
SMCnew+356,567$9.51M
IAUXnew+5,551,623$8.11M
ASCadded+568,994$6.03M
SEVNnew+664,432$5.91M

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
BKDreduced-4,208,035-$45.4M
CNRreduced-451,010-$39.9M
MATXexited-314,076-$31M
JBSexited-1,531,689-$22.9M
GOLDexited-469,856-$12.2M

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 0001799456-26-000005, largest first. % of portfolio is the value over $467,885,058, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
CNRCORE NATURAL 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: 470,957 shares; 2025Q2: 1,154,731 shares; 2025Q3: 1,838,121 shares; 2025Q4: 1,387,111 shares 1,387,111$123M26.24%-451,010Timeline
DHCDIVERSIFIED HEALTHCARE TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,487,000 shares; 2024Q4: 23,487,000 shares; 2025Q1: 23,487,000 shares; 2025Q2: 23,487,000 shares; 2025Q3: 23,487,000 shares; 2025Q4: 23,487,002 shares 23,487,002$114M24.35%+2Timeline
BKDBROOKDALE SR LIVING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,166,679 shares; 2024Q4: 11,401,757 shares; 2025Q1: 17,901,402 shares; 2025Q2: 15,496,897 shares; 2025Q3: 12,705,596 shares; 2025Q4: 8,497,561 shares 8,497,561$91.7M19.6%-4,208,035Timeline
TKTEEKAY CORPORATION 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: 1,563,303 shares; 2025Q3: 1,842,005 shares; 2025Q4: 1,762,866 shares 1,762,866$15.9M3.4%-79,139Timeline
ASCARDMORE SHIPPING 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: 468,567 shares; 2025Q3: 680,426 shares; 2025Q4: 1,249,420 shares 1,249,420$13.2M2.83%+568,994Timeline
RMRRMR 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: 54,232 shares; 2025Q2: 59,463 shares; 2025Q3: 6,834 shares; 2025Q4: 783,963 shares 783,963$11.7M2.5%+777,129Timeline
CVEOCIVEO CORP CDAQuarterly 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: 91,759 shares; 2025Q3: 286,389 shares; 2025Q4: 462,758 shares 462,758$10.6M2.26%+176,369Timeline
GRFSGRIFOLS S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,765,077 shares; 2025Q2: 1,634,279 shares; 2025Q3: 1,098,527 shares; 2025Q4: 1,084,527 shares 1,084,527$10.1M2.17%-14,000Timeline
SMCSUMMIT MIDSTREAM CORPORATIONQuarterly 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: 356,567 shares 356,567$9.51M2.03%newTimeline
ILPTINDUSTRIAL LOGISTICS PPTYS TQuarterly 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: 1,219,953 shares; 2025Q3: 1,550,498 shares; 2025Q4: 1,700,592 shares 1,700,592$9.42M2.01%+150,094Timeline
IAUXI-80 GOLD 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: 5,551,623 shares 5,551,623$8.11M1.73%newTimeline
SEVNSEVEN HILLS REALTY TRUSTQuarterly 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: 664,432 shares 664,432$5.91M1.26%newTimeline
SVCSERVICE PPTYS TRQuarterly 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: 558,889 shares; 2025Q4: 852,490 shares 852,490$1.57M0.34%+293,601Timeline
PANLPANGAEA LOGISTICS SOLUTION LQuarterly 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: 193,575 shares; 2025Q3: 201,039 shares; 2025Q4: 12,139 shares 12,139$83.5K0.02%-188,900Timeline

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
HYGISHARES TR IBOXX HI YD ETFput1,444,800$116M-743,600
TSLATESLA INC COMput224,000$101M+32,000
CVNACARVANA CO Stockput106,500$44.9Mnew
MARMARRIOTT INTL INC NEW Stockput121,900$37.8Mnew
HLTHILTON WORLDWIDE HLDGS INC Stockput115,500$33.2Mnew
WELLWELLTOWER INC REITput165,000$30.6M0
RCLROYAL CARIBBEAN GROUP Stockput92,100$25.7Mnew
AFRMAFFIRM HLDGS INC Stockput254,000$18.9M+105,000
PFSIPENNYMAC FINL SVCS INC NEW COMput130,000$17.1Mnew
MGMMGM RESORTS INTERNATIONAL COMput400,000$14.6Mnew
RRRRED ROCK RESORTS INC CL Aput60,000$3.72Mnew
RHPRYMAN HOSPITALITY PPTYS INC REITput32,500$3.08Mnew

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
BROOKDALE SR LIVING INCBROOKDALE SR LIVING INC NOTE 3.500%10/1principal30,834,000$42.9Mnew
BROOKDALE SR LIVING INCBROOKDALE SR LIVING INC NOTE 2.000%10/1principal315,000$429K0

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
MATXMATSON INC314,076$31Mshares
JBSJBS N.V.1,531,689$22.9Mshares
CNRCORE NATURAL RESOURCES INC150,400$12.6Mcall
GOLDGOLD COM INC469,856$12.2Mshares
KODKEASTMAN KODAK CO1,240,582$7.95Mshares
MATXMATSON INC20,500$2.02Mput
FLRFLUOR CORP30,000$1.26Mshares

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 0001799456-26-000005 base2026-02-17acceptance time not in the bulk data set