Sandia Investment Management LP
Filing Date
Global Rank
#7,875
/ 8,753
▼ 445
· as of Dec 2025
Top Industry
Shell Companies
32.9%
3Y Alpha vs SPY
-16.1%
Period ended 8 months ago
Filed Feb 17, 2026 · 7mo
17 quarters · since Dec 2021
Clone Performance
Sep 2023–Jul 2026 · vs SPYHypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.
Cloned portfolio
+8.0%
SPY
+66.6%
Annualised alpha
-16.8%
Max drawdown
−21.4%
Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends. Captured split ratios restate closes onto one basis; only an unusable ratio can exclude earlier closes for that listing. It tracks 98% of reported value on average across 11 quarters.Sandia Investment Management LP has stopped filing, so the simulation ends in Jul 2026 — where its last reported portfolio went stale — rather than trading that portfolio forward to today. Past performance does not predict future results.
Portfolio Concentration
109 tracked positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025Top Position
3.9%
−3.0 pts
Top 5
14.7%
−7.5 pts
Top 10
26.2%
−7.8 pts
HHI
155
Diversified−63
Portfolio Trend
17 quarters · across all stocks
Sector Breakdown
As of Dec 31, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Financial Services | 43.7% | $14,033,755 |
| Healthcare | 14.1% | $4,527,991 |
| Industrials | 12.5% | $4,017,985 |
| Technology | 9.0% | $2,883,517 |
| Consumer Cyclical | 8.5% | $2,719,736 |
| Energy | 3.7% | $1,174,400 |
| Communication Services | 2.5% | $788,703 |
| Unclassified | 1.6% | $519,375 |
| Utilities | 1.6% | $519,050 |
| Consumer Defensive | 1.2% | $385,017 |
| Basic Materials | 0.9% | $283,908 |
| Real Estate | 0.8% | $266,912 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
19 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| — | +149,987 | 349,987 | $0 | ||
| NTSK | Netskope Inc | +30,000 | 40,000 | $701,600 | |
| WBI | WaterBridge Infrastructure LLC | +15,000 | 40,000 | $800,400 | |
| CAI | Caris Life Sciences, Inc. | +15,000 | 23,600 | $636,728 | |
| GTEN | Gores Holdings X, Inc. / CI | +11,506 | 61,632 | $631,728 | |
| LGN | Legence Corp. | +9,850 | 19,850 | $854,344 | |
| BLSH | Bullish | +9,800 | 10,000 | $378,700 | |
| HTFL | Heartflow, Inc. | +8,417 | 15,917 | $463,980 | |
| MIAX | Miami International Holdings, Inc. | +6,400 | 13,000 | $576,940 | |
| FIG | Figma, Inc. | +6,000 | 7,000 | $261,590 | |
| JAKK | Jakks Pacific Inc | +5,225 | 16,236 | $274,063 | |
| CRBG | Corebridge Financial, Inc. | +5,000 | 10,000 | $301,700 | |
| BRCB | Black Rock Coffee Bar, Inc. | +5,000 | 20,000 | $445,000 | |
| OMCC | OLD MARKET CAPITAL Corp | +4,649 | 40,491 | $209,743 | |
| CRCL | Circle Internet Group, Inc. | +3,500 | 5,000 | $396,500 | |
| CTRI | Centuri Holdings, Inc. | +1,600 | 15,000 | $378,750 | |
| FIGR | Figure Technology Solutions, Inc. | +1,500 | 10,000 | $408,400 | |
| KLAR | Klarna Group plc | +1,404 | 12,404 | $358,599 | |
| VIA | Via Transportation, Inc. | +48 | 17,048 | $494,562 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| FACT | FACT II Acquisition Corp. | −137,650 | 50,000 | $260,250 | |
| COCH | Envoy Medical, Inc. | −75,184 | 514,702 | $0 | |
| BEAG | Bold Eagle Acquisition Corp. | −64,908 | 265,962 | $1,244,863 | |
| TMS | Teamshares Inc | −50,000 | 50,000 | $515,000 | |
| CLAR | Clarus Corp | −38,943 | 30,000 | $100,500 | |
| POLE | Andretti Acquisition Corp. II | −30,030 | 14,970 | $0 | |
| OTGA | OTG Acquisition Corp. I | −25,581 | 25,000 | $254,750 | |
| MACI | Melar Acquisition Corp. I/Cayman | −23,711 | 25,000 | $0 | |
| ALDF | Aldel Financial II Inc. | −17,500 | 30,000 | $314,700 | |
| SFD | Smithfield Foods Inc | −15,000 | 10,000 | $223,300 | |
| COGT | Cogent Biosciences, Inc. | −14,000 | 1,000 | $35,520 | |
| SAIL | SailPoint, Inc. | −10,163 | 9,837 | $199,002 | |
| WAY | Waystar Holding Corp. | −8,450 | 6,550 | $214,512 | |
| ATEX | Anterix Inc. | −7,340 | 20,000 | $436,600 | |
| OMDA | Omada Health, Inc. | −6,157 | 8,843 | $139,542 | |
| LOAR | Loar Holdings Inc. | −5,169 | 2,321 | $157,828 | |
| ETOR | eToro Group Ltd. | −5,000 | 5,000 | $175,650 | |
| PACS | PACS Group, Inc. | −5,000 | 7,500 | $287,925 | |
| KGS | Kodiak Gas Services, Inc. | −5,000 | 10,000 | $374,000 | |
| SARO | StandardAero, Inc. | −5,000 | 15,000 | $430,200 | |
| BDCI | BTC Development Corp. | −5,000 | 15,000 | $152,100 | |
| ASIC | Ategrity Specialty Insurance Co Holdings | −5,000 | 10,300 | $216,403 | |
| GEMI | Gemini Space Station, Inc. | −4,937 | 4,563 | $45,264 | |
| TLNC | Talon Capital Corp. | −4,900 | 20,000 | $0 | |
| KVYO | Klaviyo, Inc. | −3,466 | 6,534 | $212,158 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| RGR | Sturm Ruger & Co Inc | 26,485 | $864,735 | |
| MDLN | Medline Inc. | 20,000 | $840,000 | |
| ALH | Alliance Laundry Holdings Inc. | 39,522 | $804,272 | |
| SVAQ | Silicon Valley Acquisition Corp. | 75,000 | $745,875 | |
| ULS | UL Solutions Inc. | 6,535 | $515,350 | |
| CEPV | Cantor Equity Partners V, Inc. | 50,000 | $512,500 | |
| VHCP | Vine Hill Capital Investment Corp. II | 50,000 | $501,050 | |
| HCAC | Hall Chadwick Acquisition Corp | 50,000 | $501,000 | |
| BLRK | Bluerock Acquisition Corp. | 50,000 | $500,000 | |
| ITHA | ITHAX Acquisition Corp III | 50,000 | $498,750 | |
| BIXI | Bitcoin Infrastructure Acquisition Corp Ltd | 50,000 | $498,000 | |
| IGAC | Invest Green Acquisition Corp | 47,000 | $471,410 | |
| ITT | Itt Inc. | 2,500 | $433,775 | |
| BTSG | BrightSpring Health Services, Inc. | 10,000 | $374,500 | |
| NP | Neptune Insurance Holdings Inc. | 10,500 | $306,180 | |
| COHR | Coherent Corp. | 1,500 | $276,855 | |
| KBON | Karbon Capital Partners Corp. | 25,000 | $251,625 | |
| TDWD | Tailwind 2.0 Acquisition Corp. | 25,000 | $251,500 | |
| MESH | Meshflow Acquisition Corp | 25,000 | $250,000 | |
| AERO | Grupo Aeromexico, S.A.B. de C.V. | 10,000 | $219,600 | |
| IMNM | Immunome Inc. | 10,000 | $214,800 | |
| CTGO | Contango Silver & Gold Inc. | 7,630 | $201,508 | |
| CRAN | Crane Harbor Acquisition Corp. II | 20,000 | $201,400 | |
| DLHC | DLH Holdings Corp. | 34,806 | $196,653 | |
| LMRI | Lumexa Imaging Holdings, Inc. | 10,000 | $185,000 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
16 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| BULL | Webull Corp | 64,497 | $953,910 | |
| FTW | PRESIDIO PRODUCTION Co | 50,000 | $519,000 | |
| SRG-PA | Seritage Growth Properties | 93,887 | $399,020 | |
| NIQ | NIQ Global Intelligence plc | 22,500 | $353,250 | |
| SEG | Seaport Entertainment Group Inc. | 13,311 | $305,088 | |
| PRTA | Prothena Corp Public Ltd Co | 29,950 | $292,312 | |
| MH | McGraw Hill, Inc. | 15,000 | $188,250 | |
| KSPI | Joint Stock Co Kaspi.kz | 2,175 | $177,654 | |
| DMAA | Drugs Made In America Acquisition Corp. | 15,721 | $161,454 | |
| VLOS | Velos Acquisition I Corp. | 15,000 | $158,250 | |
| VG | Venture Global, Inc. | 10,000 | $141,900 | |
| KDP | Keurig Dr Pepper Inc. | 2,500 | $63,775 | |
| MRLN | Merlin, Inc. | 87,500 | $0 | |
| — | 50,000 | $0 | ||
| — | 5,500 | $0 | ||
| CHACR | Crane Harbor Acquisition Corp. | 11,921 | $0 | |
| No positions match the current search. | ||||
109 tracked positions ·
$32,120,349 total
· filing declares
128 positions · $40,101,320
· as of Dec 31, 2025
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 109 positions by value
· page 1 of 3
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| BEAG |
Bold Eagle Acquisition Corp.
Financial Services
|
Reduced | 265,962 | $1,244,863 | 3.88% | |
| RGS |
Regis Corp
Consumer Cyclical
|
Held | 32,936 | $913,974 | 2.85% | |
| RGR |
Sturm Ruger & Co Inc
Industrials
|
NEW | 26,485 | $864,735 | 2.69% | |
| LGN |
Legence Corp.
Industrials
|
Added | 19,850 | $854,344 | 2.66% | |
| MDLN |
Medline Inc.
Healthcare
|
NEW | 20,000 | $840,000 | 2.62% | |
| ALH |
Alliance Laundry Holdings Inc.
Consumer Cyclical
|
NEW | 39,522 | $804,272 | 2.50% | |
| WBI |
WaterBridge Infrastructure LLC
Energy
|
Added | 40,000 | $800,400 | 2.49% | |
| SVAQ |
Silicon Valley Acquisition Corp.
Financial Services
|
NEW | 75,000 | $745,875 | 2.32% | |
| NTSK |
Netskope Inc
Technology
|
Added | 40,000 | $701,600 | 2.18% | |
| CAI |
Caris Life Sciences, Inc.
Healthcare
|
Added | 23,600 | $636,728 | 1.98% | |
| GTEN |
Gores Holdings X, Inc. / CI
Financial Services
|
Added | 61,632 | $631,728 | 1.97% | |
| APAC |
StoneBridge Acquisition II Corp
Financial Services
|
Held | 60,000 | $602,400 | 1.88% | |
| MIAX |
Miami International Holdings, Inc.
Financial Services
|
Added | 13,000 | $576,940 | 1.80% | |
| DRDB |
Roman DBDR Acquisition Corp. II
Financial Services
|
Reduced | 50,038 | $521,896 | 1.62% | |
| ULS |
UL Solutions Inc.
Industrials
|
NEW | 6,535 | $515,350 | 1.60% | |
| TMS |
Teamshares Inc
Financial Services
|
Reduced | 50,000 | $515,000 | 1.60% | |
| CEPV |
Cantor Equity Partners V, Inc.
Financial Services
|
NEW | 50,000 | $512,500 | 1.60% | |
| MBVI |
M3-Brigade Acquisition VI Corp.
Financial Services
|
Held | 50,000 | $506,250 | 1.58% | |
| VHCP |
Vine Hill Capital Investment Corp. II
Financial Services
|
NEW | 50,000 | $501,050 | 1.56% | |
| HCAC |
Hall Chadwick Acquisition Corp
Financial Services
|
NEW | 50,000 | $501,000 | 1.56% | |
| BLRK |
Bluerock Acquisition Corp.
Financial Services
|
NEW | 50,000 | $500,000 | 1.56% | |
| ITHA |
ITHAX Acquisition Corp III
Financial Services
|
NEW | 50,000 | $498,750 | 1.55% | |
| BIXI |
Bitcoin Infrastructure Acquisition Corp Ltd
Financial Services
|
NEW | 50,000 | $498,000 | 1.55% | |
| VIA |
Via Transportation, Inc.
Technology
|
Added | 17,048 | $494,562 | 1.54% | |
| IGAC |
Invest Green Acquisition Corp
Financial Services
|
NEW | 47,000 | $471,410 | 1.47% | |
| HTFL |
Heartflow, Inc.
Healthcare
|
Added | 15,917 | $463,980 | 1.44% | |
| BRCB |
Black Rock Coffee Bar, Inc.
Consumer Cyclical
|
Added | 20,000 | $445,000 | 1.39% | |
| ATEX |
Anterix Inc.
Communication Services
|
Reduced | 20,000 | $436,600 | 1.36% | |
| ITT |
Itt Inc.
Industrials
|
NEW | 2,500 | $433,775 | 1.35% | |
| SARO |
StandardAero, Inc.
Industrials
|
Reduced | 15,000 | $430,200 | 1.34% | |
| SNDA |
Sonida Senior Living, Inc.
Healthcare
|
Held | 12,612 | $411,277 | 1.28% | |
| FIGR |
Figure Technology Solutions, Inc.
Financial Services
|
Added | 10,000 | $408,400 | 1.27% | |
| RVMD |
Revolution Medicines, Inc.
Healthcare
|
Held | 5,000 | $398,250 | 1.24% | |
| CRCL |
Circle Internet Group, Inc.
Financial Services
|
Added | 5,000 | $396,500 | 1.23% | |
| CTRI |
Centuri Holdings, Inc.
Utilities
|
Added | 15,000 | $378,750 | 1.18% | |
| BLSH |
Bullish
Technology
|
Added | 10,000 | $378,700 | 1.18% | |
| BTSG |
BrightSpring Health Services, Inc.
Healthcare
|
NEW | 10,000 | $374,500 | 1.17% | |
| KGS |
Kodiak Gas Services, Inc.
Energy
|
Reduced | 10,000 | $374,000 | 1.16% | |
| KLAR |
Klarna Group plc
Financial Services
|
Added | 12,404 | $358,599 | 1.12% | |
| ALDF |
Aldel Financial II Inc.
Financial Services
|
Reduced | 30,000 | $314,700 | 0.98% | |
| CHYM |
Chime Financial, Inc.
Technology
|
Reduced | 12,500 | $314,625 | 0.98% | |
| NP |
Neptune Insurance Holdings Inc.
Financial Services
|
NEW | 10,500 | $306,180 | 0.95% | |
| CRBG |
Corebridge Financial, Inc.
Financial Services
|
Added | 10,000 | $301,700 | 0.94% | |
| PACS |
PACS Group, Inc.
Healthcare
|
Reduced | 7,500 | $287,925 | 0.90% | |
| COHR |
Coherent Corp.
Technology
|
NEW | 1,500 | $276,855 | 0.86% | |
| JAKK |
Jakks Pacific Inc
Consumer Cyclical
|
Added | 16,236 | $274,063 | 0.85% | |
| FIG |
Figma, Inc.
Technology
|
Added | 7,000 | $261,590 | 0.81% | |
| FACT |
FACT II Acquisition Corp.
|
Reduced | 50,000 | $260,250 | 0.81% | |
| NHIC |
NewHold Investment Corp. III
|
Held | 37,500 | $259,125 | 0.81% | |
| SOCA |
Solarius Capital Acquisition Corp.
Financial Services
|
Held | 25,000 | $254,750 | 0.79% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.