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Long Focus Capital Management, LLC

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13F filer, CIK 1602716, SAN JUAN, PR

Long Focus Capital Management, LLC reported $3,800,422,308 across 92 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 38.28% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001602716-26-000002

Period
2025-12-31
Reported value
$3.8B
Holdings
92
Top 10 weight
38.28%
New
9
Sold out
11

Largest buys vs the previous quarter

SecurityShares changeApprox. value
RKTnew+2,820,000$54.6M
AMZNnew+213,155$49.2M
MOHadded+197,535$34.3M
GLNGadded+889,089$33.1M
PYPLadded+479,453$28M

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
INSMreduced-213,000-$37.1M
AKROexited-720,000-$34.2M
HLFreduced-1,200,000-$15.5M
TEreduced-2,290,000-$15.3M
FTAIreduced-54,953-$10.8M

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 0001602716-26-000002, largest first. % of portfolio is the value over $2,008,639,475, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
FTAIFTAI AVIATION LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 560,000 shares; 2024Q4: 480,000 shares; 2025Q1: 790,000 shares; 2025Q2: 940,000 shares; 2025Q3: 614,953 shares; 2025Q4: 560,000 shares 560,000$110M5.49%-54,953Timeline
PYPLPAYPAL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 820,000 shares; 2024Q4: 780,000 shares; 2025Q1: 1,250,000 shares; 2025Q2: 1,250,000 shares; 2025Q3: 1,192,040 shares; 2025Q4: 1,671,493 shares 1,671,493$97.6M4.86%+479,453Timeline
CHTRCHARTER COMMUNICATIONS 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: 313,540 shares; 2025Q4: 427,000 shares 427,000$89.1M4.44%+113,460Timeline
CNCCENTENE CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 138,385 shares; 2025Q1: 388,385 shares; 2025Q2: 285,440 shares; 2025Q3: 2,299,000 shares; 2025Q4: 2,045,000 shares 2,045,000$84.2M4.19%-254,000Timeline
MOHMOLINA HEALTHCARE 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: 257,465 shares; 2025Q4: 455,000 shares 455,000$79M3.93%+197,535Timeline
CMCSACOMCAST CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,126,900 shares; 2024Q4: 1,898,400 shares; 2025Q1: 2,070,416 shares; 2025Q2: 2,070,416 shares; 2025Q3: 2,070,416 shares; 2025Q4: 2,240,416 shares 2,240,416$67M3.33%+170,000Timeline
CVSCVS HEALTH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,141,100 shares; 2025Q1: 1,040,000 shares; 2025Q2: 847,329 shares; 2025Q3: 904,000 shares; 2025Q4: 840,000 shares 840,000$66.7M3.32%-64,000Timeline
CZRCAESARS ENTERTAINMENT INC NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 662,200 shares; 2024Q4: 857,200 shares; 2025Q1: 1,220,800 shares; 2025Q2: 1,230,800 shares; 2025Q3: 1,568,000 shares; 2025Q4: 2,710,000 shares 2,710,000$63.4M3.16%+1,142,000Timeline
GLNGGOLAR LNG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: 50,000 shares; 2025Q1: 390,000 shares; 2025Q2: 445,000 shares; 2025Q3: 637,351 shares; 2025Q4: 1,526,440 shares 1,526,440$56.8M2.83%+889,089Timeline
ETENERGY TRANSFER L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,342,400 shares; 2024Q4: 3,342,400 shares; 2025Q1: 3,342,400 shares; 2025Q2: 3,342,400 shares; 2025Q3: 3,342,400 shares; 2025Q4: 3,342,400 shares 3,342,400$55.1M2.74%0Timeline
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: 2,820,000 shares 2,820,000$54.6M2.72%newTimeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 231,000 shares; 2025Q2: 81,000 shares; 2025Q3: not reported; 2025Q4: 213,155 shares 213,155$49.2M2.45%newTimeline
BNTXBIONTECH SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 159,000 shares; 2025Q2: 207,903 shares; 2025Q3: 397,655 shares; 2025Q4: 507,655 shares 507,655$48.3M2.41%+110,000Timeline
ARANTERO RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,603,000 shares; 2024Q4: 1,353,000 shares; 2025Q1: 1,063,000 shares; 2025Q2: 859,818 shares; 2025Q3: 1,309,000 shares; 2025Q4: 1,311,540 shares 1,311,540$45.2M2.25%+2,540Timeline
HUMHUMANA 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: 131,500 shares; 2025Q4: 169,500 shares 169,500$43.4M2.16%+38,000Timeline
UNHUNITEDHEALTH 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: 52,000 shares; 2025Q3: 139,200 shares; 2025Q4: 121,745 shares 121,745$40.2M2%-17,455Timeline
ALIBABA GROUP HLDG LTDALIBABA GROUP HLDG 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: 23,500,000 shares; 2025Q3: 235,000 shares; 2025Q4: 235,000 shares 235,000$36.5M1.82%0
VSATVIASAT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,370,000 shares; 2025Q2: 3,049,302 shares; 2025Q3: 1,339,327 shares; 2025Q4: 1,044,300 shares 1,044,300$36M1.79%-295,027Timeline
PARPAR TECHNOLOGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,357 shares; 2024Q4: 20,357 shares; 2025Q1: 20,357 shares; 2025Q2: 20,357 shares; 2025Q3: 877,575 shares; 2025Q4: 990,000 shares 990,000$35.9M1.79%+112,425Timeline
BLDRBUILDERS FIRSTSOURCE 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: 199,000 shares; 2025Q3: 80,000 shares; 2025Q4: 335,000 shares 335,000$34.5M1.72%+255,000Timeline
AGOASSURED GUARANTY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 265,000 shares; 2024Q4: 275,000 shares; 2025Q1: 280,000 shares; 2025Q2: 280,000 shares; 2025Q3: 320,000 shares; 2025Q4: 380,000 shares 380,000$34.2M1.7%+60,000Timeline
PINSPINTEREST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 192,000 shares; 2024Q4: 907,483 shares; 2025Q1: 1,030,483 shares; 2025Q2: 1,026,000 shares; 2025Q3: 1,026,000 shares; 2025Q4: 1,256,000 shares 1,256,000$32.5M1.62%+230,000Timeline
TICTIC SOLUTIONS 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: 1,824,000 shares; 2025Q4: 3,075,000 shares 3,075,000$31.1M1.55%+1,251,000Timeline
HLFHERBALIFE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,738,000 shares; 2024Q4: 4,758,127 shares; 2025Q1: 4,943,000 shares; 2025Q2: 4,355,000 shares; 2025Q3: 3,500,000 shares; 2025Q4: 2,300,000 shares 2,300,000$29.6M1.48%-1,200,000Timeline
HHHHOWARD HUGHES 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: 144,000 shares; 2025Q3: 144,000 shares; 2025Q4: 369,165 shares 369,165$29.4M1.47%+225,165Timeline
ONITONITY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 652,088 shares; 2024Q4: 652,088 shares; 2025Q1: 677,088 shares; 2025Q2: 677,088 shares; 2025Q3: 672,088 shares; 2025Q4: 617,088 shares 617,088$28.3M1.41%-55,000Timeline
PENNPENN ENTERTAINMENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,500,000 shares; 2024Q4: 1,545,000 shares; 2025Q1: 1,760,200 shares; 2025Q2: 1,880,000 shares; 2025Q3: 1,880,000 shares; 2025Q4: 1,880,000 shares 1,880,000$27.7M1.38%0Timeline
GGALGRUPO FINANCIERO GALICIA 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: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 506,000 shares 506,000$27.3M1.36%newTimeline
FIPFTAI INFRASTRUCTURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 517,659 shares; 2024Q4: 517,659 shares; 2025Q1: 4,766,162 shares; 2025Q2: 6,060,162 shares; 2025Q3: 5,685,000 shares; 2025Q4: 5,685,000 shares 5,685,000$26.2M1.3%0Timeline
SGHTSIGHT SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 865,097 shares; 2024Q4: 2,238,632 shares; 2025Q1: 3,126,508 shares; 2025Q2: 3,151,508 shares; 2025Q3: 3,193,305 shares; 2025Q4: 3,292,481 shares 3,292,481$26.1M1.3%+99,176Timeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 348,000 shares; 2024Q4: 286,200 shares; 2025Q1: 398,380 shares; 2025Q2: 480,380 shares; 2025Q3: 655,380 shares; 2025Q4: 896,183 shares 896,183$25.7M1.28%+240,803Timeline
AURAAURA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,133,546 shares; 2024Q4: 2,537,774 shares; 2025Q1: 3,319,582 shares; 2025Q2: 4,619,582 shares; 2025Q3: 4,619,582 shares; 2025Q4: 4,619,582 shares 4,619,582$25.2M1.25%0Timeline
IOVAIOVANCE BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,532,000 shares; 2024Q4: 5,132,000 shares; 2025Q1: 9,250,055 shares; 2025Q2: 11,820,000 shares; 2025Q3: 9,116,507 shares; 2025Q4: 8,600,000 shares 8,600,000$23.5M1.17%-516,507Timeline
HAPNHAPPEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,409,725 shares; 2024Q4: 1,609,725 shares; 2025Q1: 2,034,725 shares; 2025Q2: 2,010,725 shares; 2025Q3: 1,200,000 shares; 2025Q4: 1,200,100 shares 1,200,100$22.7M1.13%+100Timeline
SUPVGRUPO SUPERVIELLE S.A.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 345,689 shares; 2024Q4: 170,689 shares; 2025Q1: 125,672 shares; 2025Q2: 125,672 shares; 2025Q3: 125,672 shares; 2025Q4: 1,920,000 shares 1,920,000$22.7M1.13%+1,794,328Timeline
FOURSHIFT4 PMTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 354,000 shares 354,000$22.3M1.11%newTimeline
WOOFPETCO HEALTH & WELLNESS CO IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,237,121 shares; 2025Q2: 6,741,784 shares; 2025Q3: 6,400,000 shares; 2025Q4: 7,765,024 shares 7,765,024$21.8M1.09%+1,365,024Timeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 628,900 shares; 2024Q4: 650,800 shares; 2025Q1: 630,800 shares; 2025Q2: 520,200 shares; 2025Q3: 338,000 shares; 2025Q4: 125,000 shares 125,000$21.8M1.08%-213,000Timeline
ELVELEVANCE HEALTH INC FORMERLYQuarterly 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: 87,000 shares; 2025Q4: 61,200 shares 61,200$21.5M1.07%-25,800Timeline
BIDUBAIDU 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: 159,800 shares; 2025Q4: 159,800 shares 159,800$20.9M1.04%0Timeline
LBRDALIBERTY BROADBAND CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 310,100 shares; 2024Q4: 321,800 shares; 2025Q1: 375,000 shares; 2025Q2: 375,000 shares; 2025Q3: 375,000 shares; 2025Q4: 375,000 shares 375,000$18.1M0.9%0Timeline
LBTYKLIBERTY GLOBAL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,442,000 shares; 2024Q4: 1,442,000 shares; 2025Q1: 1,494,400 shares; 2025Q2: 1,494,400 shares; 2025Q3: 1,494,400 shares; 2025Q4: 1,494,400 shares 1,494,400$16.5M0.82%0Timeline
LABSTANDARD BIOTOOLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 6,700,000 shares; 2025Q2: 10,070,000 shares; 2025Q3: 11,362,804 shares; 2025Q4: 12,678,403 shares 12,678,403$16.2M0.81%+1,315,599Timeline
LADLITHIA MTRS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,900 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 11,149 shares; 2025Q4: 47,000 shares 47,000$15.6M0.78%+35,851Timeline
UALUNITED AIRLS 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: 268,000 shares; 2025Q2: 268,000 shares; 2025Q3: 159,000 shares; 2025Q4: 139,000 shares 139,000$15.5M0.77%-20,000Timeline
VLRSCONTROLADORA VUELA COMP DE AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,426,920 shares; 2024Q4: 1,426,920 shares; 2025Q1: 1,365,205 shares; 2025Q2: 1,715,205 shares; 2025Q3: 1,715,205 shares; 2025Q4: 1,715,205 shares 1,715,205$15.2M0.76%0Timeline
OVVOVINTIV 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: 310,000 shares; 2025Q3: 310,000 shares; 2025Q4: 370,000 shares 370,000$14.5M0.72%+60,000Timeline
ARHSARHAUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,125,000 shares; 2025Q1: 1,520,800 shares; 2025Q2: 1,520,800 shares; 2025Q3: 1,290,000 shares; 2025Q4: 1,290,000 shares 1,290,000$14.5M0.72%0Timeline
CLLSCELLECTIS S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,617,293 shares; 2024Q4: 4,617,293 shares; 2025Q1: 4,717,293 shares; 2025Q2: 4,717,293 shares; 2025Q3: 4,123,262 shares; 2025Q4: 2,787,750 shares 2,787,750$13.5M0.67%-1,335,512Timeline
TALTAL ED GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,000 shares; 2024Q4: 595,260 shares; 2025Q1: 627,300 shares; 2025Q2: 1,117,300 shares; 2025Q3: 1,117,300 shares; 2025Q4: 1,117,300 shares 1,117,300$12.2M0.61%0Timeline
PZZAPAPA JOHNS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 180,000 shares; 2025Q1: 310,622 shares; 2025Q2: 310,622 shares; 2025Q3: 310,622 shares; 2025Q4: 310,622 shares 310,622$12M0.6%0Timeline
CCITIGROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 94,640 shares; 2024Q4: 94,640 shares; 2025Q1: 94,640 shares; 2025Q2: 99,640 shares; 2025Q3: 99,640 shares; 2025Q4: 99,640 shares 99,640$11.6M0.58%0Timeline
LILAKLIBERTY LATIN AMERICA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,695,400 shares; 2024Q4: 3,034,616 shares; 2025Q1: 3,295,336 shares; 2025Q2: 3,295,336 shares; 2025Q3: 1,995,201 shares; 2025Q4: 1,558,527 shares 1,558,527$11.6M0.58%-436,674Timeline
NFENEW FORTRESS 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: 5,150,000 shares; 2025Q3: 7,400,000 shares; 2025Q4: 10,154,450 shares 10,154,450$11.6M0.58%+2,754,450Timeline
BCYCBICYCLE THERAPEUTICS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 543,092 shares; 2025Q1: 1,293,753 shares; 2025Q2: 1,317,293 shares; 2025Q3: 1,418,695 shares; 2025Q4: 1,633,091 shares 1,633,091$11.6M0.58%+214,396Timeline
AMANTERO MIDSTREAM CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 610,000 shares; 2024Q4: 610,000 shares; 2025Q1: 610,000 shares; 2025Q2: 610,000 shares; 2025Q3: 610,000 shares; 2025Q4: 610,000 shares 610,000$10.9M0.54%0Timeline
WYNNWYNN RESORTS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 157,000 shares; 2024Q4: 163,000 shares; 2025Q1: 300,000 shares; 2025Q2: 300,000 shares; 2025Q3: 90,000 shares; 2025Q4: 90,000 shares 90,000$10.8M0.54%0Timeline
OPRTOPORTUN FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,740,777 shares; 2024Q4: 1,740,777 shares; 2025Q1: 1,515,777 shares; 2025Q2: 1,515,777 shares; 2025Q3: 1,515,777 shares; 2025Q4: 1,515,777 shares 1,515,777$8.02M0.4%0Timeline
TET1 ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,449,050 shares; 2024Q4: 5,650,000 shares; 2025Q1: 6,120,000 shares; 2025Q2: 6,120,000 shares; 2025Q3: 3,445,000 shares; 2025Q4: 1,155,000 shares 1,155,000$7.72M0.38%-2,290,000Timeline
APGAPI GROUP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,000 shares; 2024Q4: 127,893 shares; 2025Q1: 127,893 shares; 2025Q2: 132,893 shares; 2025Q3: 199,339 shares; 2025Q4: 199,339 shares 199,339$7.63M0.38%0Timeline
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: 377,600 shares; 2024Q4: 377,600 shares; 2025Q1: 377,600 shares; 2025Q2: 377,600 shares; 2025Q3: 377,600 shares; 2025Q4: 377,600 shares 377,600$4.89M0.24%0Timeline
MGTXMEIRAGTX HLDGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 189,745 shares; 2025Q1: 249,745 shares; 2025Q2: 524,745 shares; 2025Q3: 524,745 shares; 2025Q4: 524,745 shares 524,745$4.17M0.21%0Timeline
EXEEXPAND ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,300 shares; 2024Q4: 100,300 shares; 2025Q1: 10,300 shares; 2025Q2: not reported; 2025Q3: 36,000 shares; 2025Q4: 36,000 shares 36,000$3.97M0.2%0Timeline
CLVTCLARIVATE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,175,000 shares; 2024Q4: 1,175,000 shares; 2025Q1: 1,175,000 shares; 2025Q2: 1,175,000 shares; 2025Q3: 1,175,000 shares; 2025Q4: 1,175,000 shares 1,175,000$3.92M0.2%0Timeline
TLYSTILLYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,151,931 shares; 2024Q4: 2,181,931 shares; 2025Q1: 2,181,931 shares; 2025Q2: 2,181,931 shares; 2025Q3: 1,712,130 shares; 2025Q4: 1,680,658 shares 1,680,658$3.34M0.17%-31,472Timeline
GLIBALIBERTY CAP 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: 74,999 shares; 2025Q4: 74,999 shares 74,999$2.77M0.14%0Timeline
APOAPOLLO GLOBAL MGMT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 57,000 shares; 2024Q4: 13,750 shares; 2025Q1: 13,750 shares; 2025Q2: 18,750 shares; 2025Q3: 18,750 shares; 2025Q4: 18,750 shares 18,750$2.71M0.14%0Timeline
CABOCABLE ONE 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: 19,777 shares 19,777$2.23M0.11%newTimeline
WSCWILLSCOT HLDGS 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: 99,562 shares; 2025Q4: 99,562 shares 99,562$1.87M0.09%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,980 shares; 2024Q4: 5,980 shares; 2025Q1: 5,980 shares; 2025Q2: 5,980 shares; 2025Q3: 5,980 shares; 2025Q4: 5,980 shares 5,980$1.87M0.09%0Timeline
AIOTPOWERFLEET 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: 337,504 shares; 2025Q3: 337,504 shares; 2025Q4: 337,504 shares 337,504$1.8M0.09%0Timeline
PAGSPAGSEGURO DIGITAL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 922,000 shares; 2024Q4: 955,000 shares; 2025Q1: 955,000 shares; 2025Q2: 760,000 shares; 2025Q3: 406,000 shares; 2025Q4: 156,000 shares 156,000$1.5M0.07%-250,000Timeline
TDAYUSA TODAY 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: not reported; 2025Q4: 268,863 shares 268,863$1.38M0.07%newTimeline
GLIBKLIBERTY CAP 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: 31,514 shares 31,514$1.17M0.06%newTimeline
BIOXBIOCERES CROP SOLUTIONS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 322,817 shares; 2024Q4: 744,748 shares; 2025Q1: 829,748 shares; 2025Q2: 829,748 shares; 2025Q3: 829,748 shares; 2025Q4: 829,748 shares 829,748$1.09M0.05%0Timeline
XPLSOLITARIO RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,409,700 shares; 2024Q4: 1,409,700 shares; 2025Q1: 1,409,700 shares; 2025Q2: 1,409,700 shares; 2025Q3: 1,409,700 shares; 2025Q4: 1,409,700 shares 1,409,700$982K0.05%0Timeline
DXLGDESTINATION XL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 438,042 shares; 2024Q4: 438,042 shares; 2025Q1: 498,042 shares; 2025Q2: 498,042 shares; 2025Q3: 498,042 shares; 2025Q4: 498,042 shares 498,042$458K0.02%0Timeline

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
CMCSACOMCAST CORP NEW COMcall23,397,500$699M+6,139,900
CHTRCHARTER COMMUNICATIONS INC COMcall1,311,100$274M+468,100
BPBP PLC ADRcall5,100,100$177M+4,500,100
CVXCHEVRON CORPORATION COMcall1,115,000$170M+950,000
ETENERGY TRANSFER L P COM UT LTD PTNcall6,234,800$103M+3,766,800
CVSCVS HEALTH CORP COMcall1,130,200$89.7M-330,000
BBARRICK MNG CORP COM SHScall1,918,600$83.6M-1,700,000
BUDANHEUSER BUSCH INBEV SA NV ADRcall1,265,600$81M+40,000
PYPLPAYPAL HLDGS INC STOKcall650,000$37.9Mnew
BABAALIBABA GROUP HLDG LTD SPONSORED ADScall155,000$22.7M-25,000
GMGENERAL MTRS CO Stockcall220,000$17.9M-740,000
HUMHUMANA INC Stockcall45,900$11.8Mnew
CZRCAESARS ENTERTAINMENT INC NE COMcall500,500$11.7M0
PFEPFIZER INC COMcall363,300$9.05M0
CCITIGROUP INC COMcall30,000$3.5M-35,000

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
AKROAKERO THERAPEUTICS INC720,000$34.2Mshares
INTCINTEL CORP280,000$9.39Mcall
PCTPURECYCLE TECHNOLOGIES INC589,413$7.75Mshares
GSATGLOBALSTAR INC207,000$7.53Mshares
CTRNCITI TRENDS INC242,668$7.53Mshares
CORTCORCEPT THERAPEUTICS INC70,000$5.82Mput
CALYCALLAWAY GOLF CO569,771$5.41Mshares
NESRNATIONAL ENERGY SERVICES REU350,000$3.59Mshares
ADAPYADAPTIMMUNE THERAPEUTICS PLC S18,577,821$2.42Mshares
CEPUCENTRAL PUERTO S A232,696$1.86Mshares
JILLJ JILL INC76,320$1.31Mshares

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 0001602716-26-000002 base2026-02-17acceptance time not in the bulk data set