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Lagoda Investment Management, L.P.

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13F filer, CIK 1632108, NEW YORK, NY

Lagoda Investment Management, L.P. reported $176,748,152 across 23 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 74.75% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001493152-25-023435

Period
2025-09-30
Reported value
$177M
Holdings
23
Top 10 weight
74.75%
New
0
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BRK-Badded+2,070$1.04M
ARMadded+4,545$643K
GOOGadded+2,530$616K
GXOadded+11,370$601K
VNRXadded+782,000$531K

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
UIreduced-5,725-$3.78M
BRK-Aexited-2-$1.46M
XPOreduced-4,675-$604K
PTCreduced-2,825-$574K
TRUPreduced-2,730-$118K

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, Q3 2025

Share positions as resolved from 13F-HR 0001493152-25-023435, largest first. % of portfolio is the value over $176,748,152, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TPLTEXAS PACIFIC LAND CORPORATIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 39,302 shares; 2024Q4: 34,293 shares; 2025Q1: 33,694 shares; 2025Q2: 33,787 shares; 2025Q3: 34,092 shares 34,092$31.8M18.01%+305Timeline
STXSSTEREOTAXIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,830,435 shares; 2024Q4: 4,126,135 shares; 2025Q1: 4,380,450 shares; 2025Q2: 4,687,900 shares; 2025Q3: 4,707,400 shares 4,707,400$14.6M8.28%+19,500Timeline
NTRANATERA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 114,135 shares; 2024Q4: 97,163 shares; 2025Q1: 93,300 shares; 2025Q2: 84,250 shares; 2025Q3: 84,340 shares 84,340$13.6M7.68%+90Timeline
TMDXTRANSMEDICS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 63,305 shares; 2024Q4: 73,860 shares; 2025Q1: 101,810 shares; 2025Q2: 104,435 shares; 2025Q3: 108,060 shares 108,060$12.1M6.86%+3,625Timeline
TRUPTRUPANION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 266,745 shares; 2024Q4: 263,920 shares; 2025Q1: 264,995 shares; 2025Q2: 262,845 shares; 2025Q3: 260,115 shares 260,115$11.3M6.37%-2,730Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 51,310 shares; 2024Q4: 54,784 shares; 2025Q1: 54,277 shares; 2025Q2: 41,510 shares; 2025Q3: 44,040 shares 44,040$10.7M6.07%+2,530Timeline
PTCPTC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 59,725 shares; 2024Q4: 55,980 shares; 2025Q1: 55,533 shares; 2025Q2: 53,970 shares; 2025Q3: 51,145 shares 51,145$10.4M5.87%-2,825Timeline
XPOXPO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 80,145 shares; 2024Q4: 76,825 shares; 2025Q1: 75,455 shares; 2025Q2: 76,625 shares; 2025Q3: 71,950 shares 71,950$9.3M5.26%-4,675Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,765 shares; 2024Q4: 35,637 shares; 2025Q1: 36,167 shares; 2025Q2: 32,570 shares; 2025Q3: 33,255 shares 33,255$9.29M5.25%+685Timeline
UIUBIQUITI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,917 shares; 2024Q4: 21,365 shares; 2025Q1: 20,790 shares; 2025Q2: 19,340 shares; 2025Q3: 13,615 shares 13,615$8.99M5.09%-5,725Timeline
VNRXVOLITIONRX LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,095,000 shares; 2024Q4: 7,576,000 shares; 2025Q1: 10,194,000 shares; 2025Q2: 11,705,000 shares; 2025Q3: 12,487,000 shares 12,487,000$8.48M4.8%+782,000Timeline
GXOGXO LOGISTICS INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 134,505 shares; 2024Q4: 136,315 shares; 2025Q1: 140,140 shares; 2025Q2: 137,560 shares; 2025Q3: 148,930 shares 148,930$7.88M4.46%+11,370Timeline
DMRCDIGIMARC CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 588,525 shares; 2024Q4: 628,275 shares; 2025Q1: 693,675 shares; 2025Q2: 743,425 shares; 2025Q3: 761,345 shares 761,345$7.44M4.21%+17,920Timeline
RNRRENAISSANCERE HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 26,455 shares; 2024Q4: 25,000 shares; 2025Q1: 26,045 shares; 2025Q2: 26,900 shares; 2025Q3: 26,790 shares 26,790$6.8M3.85%-110Timeline
ARMARM HOLDINGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 34,125 shares; 2025Q3: 38,670 shares 38,670$5.47M3.1%+4,545Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,694 shares; 2024Q4: 3,954 shares; 2025Q1: 4,324 shares; 2025Q2: 5,804 shares; 2025Q3: 5,804 shares 5,804$3.3M1.87%0Timeline
HEIHEICO CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,885 shares; 2024Q4: 6,550 shares; 2025Q1: 5,830 shares; 2025Q2: 6,452 shares; 2025Q3: 6,210 shares 6,210$2M1.13%-242Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,065 shares; 2024Q4: 2,065 shares; 2025Q1: 2,065 shares; 2025Q2: 1,890 shares; 2025Q3: 3,960 shares 3,960$1.99M1.13%+2,070Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,275 shares; 2024Q4: 1,275 shares; 2025Q1: 1,275 shares; 2025Q2: 1,275 shares; 2025Q3: 1,125 shares 1,125$583K0.33%-150Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,315 shares; 2024Q4: 1,480 shares; 2025Q1: 1,505 shares; 2025Q2: 1,505 shares; 2025Q3: 1,505 shares 1,505$366K0.21%0Timeline
GLDSPDR GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 650 shares; 2024Q4: 650 shares; 2025Q1: 650 shares; 2025Q2: 700 shares; 2025Q3: 650 shares 650$231K0.13%-50Timeline
RIVNRIVIAN AUTOMOTIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,000 shares; 2024Q4: 4,000 shares; 2025Q1: 4,800 shares; 2025Q2: 5,000 shares; 2025Q3: 4,400 shares 4,400$64.6K0.04%-600Timeline
ABTABBOTT LABORATORIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 160 shares; 2024Q4: 160 shares; 2025Q1: 160 shares; 2025Q2: 160 shares; 2025Q3: 160 shares 160$21.4K0.01%0Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
BRK-ABERKSHIRE HATHAWAY INC DEL2$1.46Mshares

How Q3 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 0001493152-25-023435 base2025-11-14acceptance time not in the bulk data set