Warberg Asset Management LLC

Q4 2025 13F-HR Holdings

Location
Winnetka, IL
Holdings as of
12/31/2025
Date filed
2/13/2026
Form type
13F-HR
Num holdings
181
Total value ($000)
$831,204
Net value change ($000)
+204,311 (32.6%)
New positions
39
Sold out positions
28
Turnover %
60.0%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/6/2025 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)
BAC 1,090 NEW
EPR 1,084 184.0%
RGTI 924 NEW
SVAQ 746 NEW
VHCP 721 NEW
ALB 709 NEW
TLNC 583 NEW
CRAC 490 NEW
SCII 466 NEW
MMTX 455 NEW
Top Reduces (Value $000, Stocks/ETFs)
GTLS -2,369 -100.0%
EPR -1,433 -39.7%
FORL -873 -100.0%
STXS -743 -22.6%
TLNC -603 -100.0%
BA -516 -100.0%
OAKU -496 -100.0%
RDAC -479 -100.0%
OTGA -443 -100.0%
QUMS -420 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 498,568 (60.0% 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