WhaleCreep

Montanova Capital, LLC 13F holdings, Q4 2025

Hedge fundSEC filingsCompare with another fundHoldings as of 2025-12-31, filed 2026-02-17

Montanova Capital, LLC disclosed 90 US equity positions worth $4.0bn in its Q4 2025 13F filing. Its largest position is ARQT at 8.7% of the reported book, followed by BENITEC BIOPHARMA INC and LEGN. Versus Q3 2025 it opened 13 new positions, added to 25, reduced 14 and exited 13.

$4.0bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
90
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
8.7%
Largest position
The largest single position as a share of the reported equity book.
36.4%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
38
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
51
Quarters on file since Q4 2013
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q3 2025: 13 new, 25 added, 14 reduced, 13 exited

50 of 90
ARQT ARCUTIS BIOTHERAPEUTICS INCHealthcare8.7%$347m11.96m+14%added
BENITEC BIOPHARMA INC no ticker–3.9%$156m11.55m+17%added
LEGN LEGEND BIOTECH CORPHealthcare3.6%$144m6.61m+73%added
EYPT EYEPOINT INCHealthcare3.6%$143m7.83m+26%added
RCUS ARCUS BIOSCIENCES INCHealthcare3.1%$124m5.19m+41%added
IMTX IMMATICS N.VHealthcare2.9%$117m11.19m−7.0%reduced
BHVN BIOHAVEN LTDHealthcare2.9%$116m10.29m+83%added
META META PLATFORMS INCCommunication Services2.8%$112m169,069−1.1%reduced
APLSUSD APELLIS PHARMACEUTICALS INC–2.6%$104m4.14m+44%added
NVDA NVIDIA CORPORATIONTechnology2.5%$99.0m530,900+9.8%added
KO COCA COLA COConsumer Defensive2.4%$96.7m1.38m−5.0%reduced
GE GENERAL ELECTRIC COIndustrials2.4%$95.6m310,2620.0%held
AMZN AMAZON COM INCConsumer Cyclical2.3%$93.7m406,146+86%added
PVLA PALVELLA THERAPEUTICS INC NEHealthcare2.3%$93.4m892,400+8.5%added
KURA KURA ONCOLOGY INCHealthcare2.2%$89.1m8.58m+5.7%added
BAC BANK OF AMER CORPFinancial Services2.1%$83.5m1.52m+31%added
AMD ADVANCED MICRO DEVICES INCTechnology2.1%$83.4m389,576−2.3%reduced
HD HOME DEPOT INCConsumer Cyclical2.1%$82.9m240,861+22%added
AVBP ARRIVENT BIOPHARMA INCHealthcare2.1%$82.6m4.11m+11%added
TSM TAIWAN SEMICONDUCTOR MANUFACTechnology2.1%$82.5m271,401−2.1%reduced
SYY SYSCO CORPConsumer Defensive2.0%$79.9m1.08m–new
APO APOLLO GLOBAL MGMT INCFinancial Services2.0%$78.6m542,890+26%added
MSFT MICROSOFT CORPTechnology1.9%$77.2m159,695+46%added
4XC1 KALVISTA PHARMACEUTICALS INC–1.9%$77.0m4.77m0.0%held
CMPX COMPASS THERAPEUTICS INCHealthcare1.9%$76.2m14.18m+0.6%added
FULC FULCRUM THERAPEUTICS INCHealthcare1.8%$74.2m6.56m+22%added
NOW SERVICENOW INCTechnology1.5%$59.7m389,445+1670%added
DHR DANAHER CORP DELHealthcare1.4%$55.9m244,300−4.5%reduced
MLYS MINERALYS THERAPEUTICS INCHealthcare1.4%$55.8m1.54m−28%reduced
ERAS ERASCA INCHealthcare1.3%$53.9m14.50m0.0%held
CRM SALESFORCE INCTechnology1.3%$53.0m199,900+60%added
GLUE MONTE ROSA THERAPEUTICS INCHealthcare1.3%$52.7m3.36m0.0%held
CAPR CAPRICOR THERAPEUTICS INCHealthcare1.3%$51.5m1.79m–new
RARE ULTRAGENYX PHARMACEUTICAL INHealthcare1.2%$46.4m2.02m0.0%held
ORCL ORACLE CORPTechnology1.1%$44.1m226,3180.0%held
MGM MGM RESORTS INTERNATIONALConsumer Cyclical1.1%$43.9m1.20m–new
COF CAPITAL ONE FINL CORPFinancial Services1.0%$41.7m171,970−28%reduced
TSLA TESLA INCConsumer Cyclical1.0%$41.0m91,2520.0%held
MSOS ADVISORSHARES TR–1.0%$40.9m8.67m+21%added
UNH UNITEDHEALTH GROUP INCHealthcare0.9%$36.7m111,320+16%added
FERG FERGUSON ENTERPRISES INCIndustrials0.9%$35.4m159,190−48%reduced
BSX BOSTON SCIENTIFIC CORPHealthcare0.8%$33.7m353,5610.0%held
CTNM CONTINEUM THERAPEUTICS INCHealthcare0.8%$32.5m2.84m+65%added
ZURA ZURA BIO LTDHealthcare0.7%$29.2m5.57m+1.7%added
UNIQURE NV no ticker–0.7%$29.1m1.22m–new
PROK PROKIDNEY CORP–0.7%$27.6m12.34m0.0%held
COHR COHERENT CORPTechnology0.6%$25.5m137,930–new
CMG CHIPOTLE MEXICAN GRILL INCConsumer Cyclical0.6%$25.4m686,300–new
AURA AURA BIOSCIENCES INCHealthcare0.6%$23.8m4.37m0.0%held
TNGX TANGO THERAPEUTICS INCHealthcare0.6%$23.6m2.66m–new

Exited since Q3 2025

13 rows
ETNBGBP 89BIO INC3.7%$122m
KDP KEURIG DR PEPPER INC1.2%$40.1m
RNAGBP AVIDITY BIOSCIENCES INC1.0%$32.7m
MRVL MARVELL TECHNOLOGY INC0.7%$22.9m
SNOW SNOWFLAKE INC0.6%$20.1m
MRK MERCK & CO. INC0.6%$18.4m
PINS PINTEREST INC0.5%$16.0m
REGN REGENERON PHARMACEUTICALS0.3%$10.0m
STRO SUTRO BIOPHARMA INC0.2%$5.6m
ELAN ELANCO ANIMAL HEALTH INC0.2%$5.1m
LKFT LAKEFRONT BIOTHERAPEUTICS NV0.04%$1.3m
AVTR AVANTOR INC0.03%$897k
PACS PACS GROUP INC0.01%$275k

Sector mix

  • Healthcare51.7%
  • Technology13.1%
  • Unclassified11.2%
  • Consumer Cyclical7.7%
  • Financial Services5.6%
  • Consumer Defensive4.4%
  • Industrials3.3%
  • Communication Services2.8%
  • Basic Materials0.2%

Book over time

Every quarter on file (51)
QuarterPositionsEquity book
Q2 202695$4.8bn
Q1 202688$3.7bn
Q4 202590$4.0bn
Q3 202590$3.3bn
Q2 202595$2.7bn
Q1 202599$2.5bn
Q4 202494$2.7bn
Q3 202496$2.8bn
Q2 202497$2.5bn
Q1 202499$2.4bn
Q4 202387$2.2bn
Q3 202387$1.9bn
Q2 2023100$1.9bn
Q1 202392$2.1bn
Q4 202289$2.4bn
Q3 202272$2.4bn
Q2 202289$2.6bn
Q1 202287$3.3bn
Q4 202194$5.2bn
Q3 2021105$5.9bn
Q2 2021121$6.7bn
Q1 2021105$6.7bn
Q4 2020106$7.0bn
Q3 202092$5.5bn
Q2 202079$4.7bn
Q1 202064$3.7bn
Q4 201937$4.3bn
Q3 201938$3.7bn
Q2 201939$4.0bn
Q1 201934$2.8bn
Q4 201819$1.3bn
Q3 201821$4.3bn
Q2 201819$3.7bn
Q1 201818$3.9bn
Q4 201728$4.2bn
Q3 201716$3.4bn
Q2 201719$3.2bn
Q1 201736$3.1bn
Q4 201639$2.9bn
Q3 201626$2.6bn
Q2 201622$2.2bn
Q1 201620$2.5bn
Q4 201522$1.9bn
Q3 201515$831m
Q2 201531$2.1bn
Q1 201527$1.6bn
Q4 201426$1.4bn
Q3 201428$1.1bn
Q2 201432$1.1bn
Q1 201429$831m
Q4 201334$746m

Where Montanova Capital, LLC was early

71 rows
APD AIR PRODS & CHEMS INCQ1 20149 of 1694.8%7.7%8Exited by Q1 2021+148%
NEE NEXTERA ENERGY INCQ2 20145 of 1824.9%6.5%5Exited by Q3 2015−4.3%
ASH ASHLAND INC NEWQ2 201412 of 1291.3%2.2%2Exited by Q4 2014−4.3%
PEP PEPSICO INCQ2 201414 of 1392.6%2.7%2Exited by Q4 2014+4.2%
PPG PPG INDS INCQ3 20142 of 1381.9%5.3%6Exited by Q1 2017−3.7%
MDT MEDTRONIC PLCQ3 201410 of 1733.1%4.2%26Exited by Q2 2026+40%
CDK CDK GLOBAL INCQ4 20145 of 1393.7%3.7%2Exited by Q2 2015+15%
MSTR MICROSTRATEGY INCQ4 20145 of 1431.3%1.7%3Exited by Q3 2015+4.7%
FIVE FIVE BELOW INCQ1 20153 of 1741.1%2.6%10Exited by Q3 2024+206%
ARMK ARAMARKQ1 20156 of 1776.2%7.6%9Exited by Q4 2019+38%
NXPI NXP SEMICONDUCTORS N VQ1 201516 of 2283.8%3.9%5Exited by Q4 2021+95%
QSR RESTAURANT BRANDS INTL INCQ2 201513 of 1763.4%11.1%18Exited by Q4 2019+86%
PFE PFIZER INCQ3 201516 of 2082.4%7.6%7Exited by Q1 2024−3.4%
GOOG ALPHABET INCQ4 201521 of 3505.0%9.3%12Held at last filing, Q2 2026+831%
NWL NEWELL BRANDS INCQ2 201614 of 1565.2%5.2%2Exited by Q4 2016+8.4%
CHTR CHARTER COMMUNICATIONS INC NQ2 201615 of 26912.4%12.4%10Exited by Q1 2021+189%
USFD US FOODS HLDG CORPQ3 20167 of 1831.0%1.9%6Held at last filing, Q2 2026+333%
OPLN KAR AUCTION SVCS INCQ4 201613 of 1320.9%1.8%5Exited by Q1 2018+19%
CRM SALESFORCE INCQ4 201618 of 3031.4%17.1%17Exited by Q1 2026+287%
UNH UNITEDHEALTH GROUP INCQ4 201626 of 2991.7%5.7%31Held at last filing, Q2 2026+160%
CPRT COPART INCQ1 201712 of 1780.4%2.9%15Exited by Q1 2022+390%
FMC F M C CORPQ1 201712 of 1572.3%7.0%7Exited by Q4 2018+25%
MAR MARRIOTT INTL INC NEWQ2 201711 of 1823.2%3.2%7Exited by Q4 2022+40%
NSC NORFOLK SOUTHERN CORPQ4 201721 of 2052.3%2.5%6Exited by Q3 2020+21%
DE DEERE & COQ1 201815 of 1852.0%4.8%5Exited by Q2 2020−11%
BA BOEING COQ1 201819 of 2215.9%6.9%6Exited by Q1 2025−46%
PBF PBF ENERGY INCQ2 201812 of 1531.1%1.7%2Exited by Q4 2018+19%
BSX BOSTON SCIENTIFIC CORPQ3 201814 of 1932.1%6.1%23Held at last filing, Q2 2026+11%
IQV IQVIA HLDGS INCQ4 201812 of 2079.2%9.2%30Held at last filing, Q2 2026+66%
KBR KBR INCQ2 20197 of 1511.9%2.2%11Exited by Q1 2022+91%
KMB KIMBERLY CLARK CORPQ2 20198 of 1302.4%4.2%2Exited by Q4 2019+6.6%
IR INGERSOLL-RAND PLCQ2 201914 of 1312.4%2.4%2Exited by Q1 2020+6.0%
LMT LOCKHEED MARTIN CORPQ2 201916 of 1785.8%5.8%2Exited by Q4 2019+7.3%
LHX L3HARRIS TECHNOLOGIES INCQ3 20192 of 1604.4%4.4%4Exited by Q3 2020−19%
NVST ENVISTA HLDGS CORPQ3 20195 of 1370.2%1.1%2Exited by Q1 2020+6.3%
FICO FAIR ISAAC CORPQ3 201913 of 1860.5%1.1%2Exited by Q1 2020+23%
LYFT LYFT INCQ3 201917 of 2581.2%1.8%5Exited by Q2 2021+55%
SPCE VIRGIN GALACTIC HOLDINGS INCQ4 20191 of 981.5%1.5%2Exited by Q2 2020+28%
GFL GFL ENVIRONMENTAL INCQ1 20202 of 1201.2%3.4%13Exited by Q3 2023+158%
STRO SUTRO BIOPHARMA INCQ1 20207 of 820.02%1.9%23Exited by Q4 2025−91%
4XC1 KALVISTA PHARMACEUTICALS INCQ1 20209 of 910.02%2.6%25Exited by Q2 2026+163%
INSM INSMED INCQ1 202012 of 1800.03%6.9%23Exited by Q1 2026+986%
RPRX ROYALTY PHARMA PLCQ2 20202 of 1242.2%6.0%18Exited by Q4 2024−42%
OTIS OTIS WORLDWIDE CORPQ2 20206 of 1473.2%4.3%11Exited by Q1 2023+38%
APH AMPHENOL CORPQ2 20209 of 1861.5%1.8%3Held at last filing, Q2 2026+636%
MRNS* MARINUS PHARMACEUTICALS INCQ3 20207 of 680.2%2.7%17Exited by Q4 2024–
GH GUARDANT HEALTH INCQ3 202014 of 1820.9%1.3%3Exited by Q2 2021+37%
OPEN OPENDOOR TECHNOLOGIES INCQ4 20202 of 1452.5%3.3%5Exited by Q1 2022−36%
290A CHINOOK THERAPEUTICS INCQ4 20206 of 770.1%3.6%11Exited by Q3 2023+142%
PWR QUANTA SVCS INCQ4 202016 of 1790.9%2.7%5Exited by Q1 2022+59%

Concentration and tenure

7.7%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
47.6%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
2
Median completed holding, quarters