Sandia Investment Management LP

CIK

1880562

Location

BOSTON, MA

Portfolio Value

Micro $37,044,266

Diversification

Diversified

Filing Date

Global Rank

#7,316 / 8,666 ▼ 1404 · as of Dec 2025

Top Industry

Education & Training Services 22.4%

3Y Alpha vs SPY

-31.4%

Period ended 6 months ago

Filed Feb 17, 2026 · 5mo

17 quarters · since Dec 2021

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

-82.0%

SPY

+75.5%

Annualised alpha

-64.1%

Max drawdown

−85.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

78 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025

Top Position

21.6%

−44.9 pts

Top 5

40.5%

−33.9 pts

Top 10

51.3%

−27.9 pts

HHI

677

Diversified−3,778

Portfolio Trend

17 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2025

Sector	% Portfolio	Value	Positions
Financial Services	29.6%	$10,948,739	19
Consumer Defensive	22.7%	$8,393,950	3
Healthcare	12.2%	$4,527,991	15
Industrials	10.8%	$4,017,985	12
Technology	7.8%	$2,883,517	9
Consumer Cyclical	7.3%	$2,719,736	6
Energy	3.2%	$1,174,400	2
Communication Services	2.1%	$788,703	3
Unclassified	1.4%	$519,375	2
Utilities	1.4%	$519,050	3
Basic Materials	0.8%	$283,908	2
Real Estate	0.7%	$266,912	2

Last Quarter's Activity

Export CSV

Dec 31, 2025 vs Sep 30, 2025

Added To

Positions the filer increased

19 positions

Ticker	Company	Δ Shares	Shares	Value
HYAC	Haymaker Acquisition Corp. 4	+149,987	349,987	$3,982,852
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
FACT	FACT II Acquisition Corp.	−100,100	25,000	$260,250
BEAG	Bold Eagle Acquisition Corp.	−63,208	117,662	$1,244,863
TMS	Teamshares Inc	−50,000	50,000	$515,000
CLAR	Clarus Corp	−38,943	30,000	$100,500
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
ALDF	Aldel Financial II Inc.	−7,500	30,000	$314,700
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
ASIC	Ategrity Specialty Insurance Co Holdings	−5,000	10,300	$216,403
GEMI	Gemini Space Station, Inc.	−4,937	4,563	$45,264
KVYO	Klaviyo, Inc.	−3,466	6,534	$212,158
VOYG	Voyager Technologies, Inc./TX	−3,000	2,500	$65,350
CHYM	Chime Financial, Inc.	−2,500	12,500	$314,625
KRMN	Karman Holdings Inc.	−2,500	2,500	$182,925
SLDE	Slide Insurance Holdings, Inc.	−2,252	11,748	$228,851
FLY	Firefly Aerospace Inc.	−1,795	3,205	$71,695
CAEP	Cantor Equity Partners III, Inc.	−939	10,311	$105,172
No positions match the current search.

New Positions

Positions the filer opened this quarter

24 positions

Ticker	Company	Shares	Value
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
ULS	UL Solutions Inc.	6,535	$515,350
CEPV	Cantor Equity Partners V, Inc.	50,000	$512,500
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
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
DLHC	DLH Holdings Corp.	34,806	$196,653
LMRI	Lumexa Imaging Holdings, Inc.	10,000	$185,000
PXED	Phoenix Education Partners, Inc.	5,302	$160,650
GRVY	GRAVITY Co., Ltd.	2,460	$142,360
VERA	Vera Therapeutics, Inc.	2,500	$126,600
GROW	U S Global Investors Inc	43,793	$105,541
MDU	Mdu Resources Group Inc	5,000	$97,600
NLOP	Net Lease Office Properties	3,339	$86,112
WLTH	Wealthfront Corp	3,269	$44,425
OGE	Oge Energy Corp.	1,000	$42,700
BETA	BETA Technologies, Inc.	905	$25,530
KMTS	Kestra Medical Technologies, Ltd.	653	$17,317
No positions match the current search.

Sold Out

Positions the filer fully exited

15 positions

Ticker	Company	Shares	Value
BULL	Webull Corp	64,497	$953,910
FTW	PRESIDIO PRODUCTION Co	50,000	$519,000
NUVL	Nuvalent, Inc.	5,500	$475,640
SRG	Seritage Growth Properties	93,887	$399,019
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
POLE	Andretti Acquisition Corp. II	25,000	$261,500
MACI	Melar Acquisition Corp. I/Cayman	23,711	$248,965
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
MBAV	M3-Brigade Acquisition V Corp.	15,000	$158,250
VG	Venture Global, Inc.	10,000	$141,900
KDP	Keurig Dr Pepper Inc.	2,500	$63,775
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

78 positions · $37,044,266 total · 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 78 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
KIDZ	KIDZ AI Inc. Consumer Defensive	Held	90,000	0	$8,010,000	−85.3%	21.62%
HYAC	Haymaker Acquisition Corp. 4 Financial Services	Added	349,987	+149,987	$3,982,852	+75.6%	10.75%
BEAG	Bold Eagle Acquisition Corp. Financial Services	Reduced	117,662	-63,208	$1,244,863	−33.8%	3.36%
RGS	Regis Corp Consumer Cyclical	Held	32,936	0	$913,974	−4.8%	2.47%
RGR	Sturm Ruger & Co Inc Industrials	NEW	26,485	NEW	$864,735	NEW	2.33%
LGN	Legence Corp. Industrials	Added	19,850	+9,850	$854,344	+177.3%	2.31%
MDLN	Medline Inc. Healthcare	NEW	20,000	NEW	$840,000	NEW	2.27%
ALH	Alliance Laundry Holdings Inc. Consumer Cyclical	NEW	39,522	NEW	$804,272	NEW	2.17%
WBI	WaterBridge Infrastructure LLC Energy	Added	40,000	+15,000	$800,400	+26.9%	2.16%
NTSK	Netskope Inc Technology	Added	40,000	+30,000	$701,600	+208.7%	1.89%
CAI	Caris Life Sciences, Inc. Healthcare	Added	23,600	+15,000	$636,728	+144.8%	1.72%
GTEN	Gores Holdings X, Inc. / CI Financial Services	Added	61,632	+11,506	$631,728	+23.4%	1.71%
MIAX	Miami International Holdings, Inc. Financial Services	Added	13,000	+6,400	$576,940	+117.1%	1.56%
DRDB	Roman DBDR Acquisition Corp. II Financial Services	Reduced	50,038	-62	$521,896	+1.0%	1.41%
ULS	UL Solutions Inc. Industrials	NEW	6,535	NEW	$515,350	NEW	1.39%
TMS	Teamshares Inc Financial Services	Reduced	50,000	-50,000	$515,000	−49.5%	1.39%
CEPV	Cantor Equity Partners V, Inc. Financial Services	NEW	50,000	NEW	$512,500	NEW	1.38%
VIA	Via Transportation, Inc. Technology	Added	17,048	+48	$494,562	−39.5%	1.34%
HTFL	Heartflow, Inc. Healthcare	Added	15,917	+8,417	$463,980	+83.8%	1.25%
BRCB	Black Rock Coffee Bar, Inc. Consumer Cyclical	Added	20,000	+5,000	$445,000	+24.3%	1.20%
ATEX	Anterix Inc. Communication Services	Reduced	20,000	-7,340	$436,600	−25.6%	1.18%
ITT	Itt Inc. Industrials	NEW	2,500	NEW	$433,775	NEW	1.17%
SARO	StandardAero, Inc. Industrials	Reduced	15,000	-5,000	$430,200	−21.2%	1.16%
SNDA	Sonida Senior Living, Inc. Healthcare	Held	12,612	0	$411,277	+17.6%	1.11%
FIGR	Figure Technology Solutions, Inc. Financial Services	Added	10,000	+1,500	$408,400	+32.1%	1.10%
RVMD	Revolution Medicines, Inc. Healthcare	Held	5,000	0	$398,250	+70.6%	1.08%
CRCL	Circle Internet Group, Inc. Financial Services	Added	5,000	+3,500	$396,500	+99.4%	1.07%
CTRI	Centuri Holdings, Inc. Utilities	Added	15,000	+1,600	$378,750	+33.5%	1.02%
BLSH	Bullish Technology	Added	10,000	+9,800	$378,700	+2876.7%	1.02%
BTSG	BrightSpring Health Services, Inc. Healthcare	NEW	10,000	NEW	$374,500	NEW	1.01%
KGS	Kodiak Gas Services, Inc. Energy	Reduced	10,000	-5,000	$374,000	−32.6%	1.01%
KLAR	Klarna Group plc Financial Services	Added	12,404	+1,404	$358,599	−11.1%	0.97%
ALDF	Aldel Financial II Inc. Financial Services	Reduced	30,000	-7,500	$314,700	−19.7%	0.85%
CHYM	Chime Financial, Inc. Technology	Reduced	12,500	-2,500	$314,625	+4.0%	0.85%
NP	Neptune Insurance Holdings Inc. Financial Services	NEW	10,500	NEW	$306,180	NEW	0.83%
CRBG	Corebridge Financial, Inc. Financial Services	Added	10,000	+5,000	$301,700	+88.3%	0.81%
PACS	PACS Group, Inc. Healthcare	Reduced	7,500	-5,000	$287,925	+67.8%	0.78%
COHR	Coherent Corp. Technology	NEW	1,500	NEW	$276,855	NEW	0.75%
JAKK	Jakks Pacific Inc Consumer Cyclical	Added	16,236	+5,225	$274,063	+32.9%	0.74%
FIG	Figma, Inc. Technology	Added	7,000	+6,000	$261,590	+404.3%	0.71%
FACT	FACT II Acquisition Corp.	Reduced	25,000	-100,100	$260,250	−79.8%	0.70%
NHIC	NewHold Investment Corp. III	Held	25,000	0	$259,125	+1.8%	0.70%
SLDE	Slide Insurance Holdings, Inc. Financial Services	Reduced	11,748	-2,252	$228,851	+3.6%	0.62%
SFD	Smithfield Foods Inc Consumer Defensive	Reduced	10,000	-15,000	$223,300	−62.0%	0.60%
AERO	Grupo Aeromexico, S.A.B. de C.V. Industrials	NEW	10,000	NEW	$219,600	NEW	0.59%
ASIC	Ategrity Specialty Insurance Co Holdings Financial Services	Reduced	10,300	-5,000	$216,403	−28.5%	0.58%
IMNM	Immunome Inc. Healthcare	NEW	10,000	NEW	$214,800	NEW	0.58%
WAY	Waystar Holding Corp. Healthcare	Reduced	6,550	-8,450	$214,512	−62.3%	0.58%
KVYO	Klaviyo, Inc. Technology	Reduced	6,534	-3,466	$212,158	−23.4%	0.57%
OMCC	OLD MARKET CAPITAL Corp Communication Services	Added	40,491	+4,649	$209,743	+13.6%	0.57%