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MAK CAPITAL ONE LLC

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13F filer, CIK 1385702, NEW YORK, NY

MAK CAPITAL ONE LLC reported $908,833,403 across 23 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 87.95% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001013594-26-000253

Period
2025-12-31
Reported value
$909M
Holdings
23
Top 10 weight
87.95%
New
11
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
GGALnew+1,343,488$72.5M
QCOMnew+394,012$67.4M
COURnew+3,751,368$27.6M
UDMYnew+3,769,762$22.1M
ANNXnew+2,958,527$14.9M

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
HSIIexited-1,213,762-$60.4M
PROexited-1,413,426-$32.4M
DAWNreduced-622,256-$5.8M

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 0001013594-26-000253, largest first. % of portfolio is the value over $743,151,419, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SKYCHAMPION HOMES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,500,000 shares; 2024Q4: 2,500,000 shares; 2025Q1: 2,500,000 shares; 2025Q2: 2,500,000 shares; 2025Q3: 2,000,000 shares; 2025Q4: 2,000,000 shares 2,000,000$169M22.74%0Timeline
AGYSAGILYSYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,192,730 shares; 2024Q4: 1,192,730 shares; 2025Q1: 1,192,730 shares; 2025Q2: 1,192,730 shares; 2025Q3: 1,192,730 shares; 2025Q4: 1,192,730 shares 1,192,730$142M19.07%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: 1,343,488 shares 1,343,488$72.5M9.75%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: 394,012 shares 394,012$67.4M9.07%newTimeline
AUTLAUTOLUS THERAPEUTICS 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: 16,955,098 shares; 2025Q3: 26,017,616 shares; 2025Q4: 30,005,343 shares 30,005,343$59.7M8.03%+3,987,727Timeline
SUPVGRUPO SUPERVIELLE S.A.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,728,274 shares; 2024Q4: 2,728,274 shares; 2025Q1: 2,728,274 shares; 2025Q2: 2,925,268 shares; 2025Q3: 4,000,000 shares; 2025Q4: 4,000,000 shares 4,000,000$47.3M6.36%0Timeline
COURCOURSERA 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: 3,751,368 shares 3,751,368$27.6M3.72%newTimeline
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: 2,774,721 shares; 2025Q2: 5,597,422 shares; 2025Q3: 15,931,806 shares; 2025Q4: 19,288,158 shares 19,288,158$24.7M3.32%+3,356,352Timeline
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: 3,769,762 shares 3,769,762$22.1M2.97%newTimeline
YTRAYATRA ONLINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,170,301 shares; 2024Q4: 12,170,301 shares; 2025Q1: 12,170,301 shares; 2025Q2: 12,170,301 shares; 2025Q3: 12,170,301 shares; 2025Q4: 12,170,301 shares 12,170,301$21.7M2.92%0Timeline
ANNXANNEXON 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: 2,958,527 shares 2,958,527$14.9M2%newTimeline
PESIPERMA-FIX ENVIRONMENTAL SVCSQuarterly 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: 92,610 shares; 2025Q3: 815,576 shares; 2025Q4: 918,673 shares 918,673$11.6M1.56%+103,097Timeline
CYRXCRYOPORT 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: 818,162 shares; 2025Q4: 1,199,225 shares 1,199,225$11.5M1.55%+381,063Timeline
HNSTHONEST 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: 3,528,704 shares 3,528,704$9.1M1.23%newTimeline
CVECENOVUS 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: not reported; 2025Q3: not reported; 2025Q4: 536,832 shares 536,832$9.08M1.22%newTimeline
TALKTALKSPACE 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: 2,215,336 shares 2,215,336$8.04M1.08%newTimeline
DAWNDAY ONE BIOPHARMACEUTICALS 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: 1,448,461 shares; 2025Q4: 826,205 shares 826,205$7.7M1.04%-622,256Timeline
SMRTSMARTRENT 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: 2,863,923 shares; 2025Q4: 3,577,973 shares 3,577,973$7.23M0.97%+714,050Timeline
MITKMITEK SYS 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: 634,099 shares 634,099$6.69M0.9%newTimeline
VPGVISHAY PRECISION 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: 51,226 shares 51,226$1.97M0.27%newTimeline
DAVAENDAVA 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: 283,076 shares 283,076$1.79M0.24%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
SKYCHAMPION HOMES INC COMput1,500,000$127M0
AGYSAGILYSYS INC COMput327,600$38.9M0

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
HSIIHEIDRICK & STRUGGLES INTL IN1,213,762$60.4Mshares
PROPROS Holdings Inc1,413,426$32.4Mshares

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 0001013594-26-000253 base2026-02-17acceptance time not in the bulk data set