FINDELL CAPITAL MANAGEMENT LLC

Q4 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
17
Total value ($000)
$347,751
Net value change ($000)
+94,392 (37.3%)
New positions
4
Sold out positions
3
Turnover %
16.4%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
LQDA 33,992 52.8%
ESTA 29,289 55.2%
ROOT 11,603 216.0%
CELH 9,605 NEW
DAVE 7,924 104.6%
LRN 5,844 NEW
ADMA 5,472 NEW
TPB 4,870 54.7%
ABVX 3,077 90.6%
VOR 3,021 NEW
Top Reduces (Value $000, Stocks/ETFs)
ODPN -14,872 -100.0%
MLYS -7,665 -80.9%
BTU -6,232 -100.0%
SEZL -4,295 -100.0%
OPRT -2,260 -14.3%
GEO -996 -8.7%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 46,768 (13.4% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type