Sandia Investment Management LP
Filing Date
Global Rank
#7,291
/ 8,420
▼ 324
Top Industry
Shell Companies
26.7%
3Y Alpha vs SPY
-32.2%
Period ended 6 months ago
Filed Feb 17, 2026 · 4mo
17 quarters · since Dec 2021
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
-30.5%
SPY
+76.3%
Annualised alpha
-32.2%
Max drawdown
−44.2%
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, 2025Top Position
13.3%
−3.2 pts
Top 5
26.3%
−9.9 pts
Top 10
39.6%
−8.7 pts
HHI
329
Diversified−137
Portfolio Trend
17 quarters · across all stocks
Sector Breakdown
As of Dec 31, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Financial Services | 36.7% | $10,948,739 |
| Healthcare | 15.2% | $4,527,991 |
| Industrials | 13.5% | $4,017,985 |
| Technology | 9.7% | $2,883,517 |
| Consumer Cyclical | 9.1% | $2,719,736 |
| Consumer Defensive | 4.0% | $1,184,950 |
| Energy | 3.9% | $1,174,400 |
| Communication Services | 2.6% | $788,703 |
| Unclassified | 1.7% | $519,375 |
| Utilities | 1.7% | $519,050 |
| Basic Materials | 1.0% | $283,908 |
| Real Estate | 0.9% | $266,912 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
19 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| HYAC | Haymaker Acquisition Corp. 4 | +149,987 | 349,987 | $3,982,852 | |
| NTSK | Netskope Inc | +30,000 | 40,000 | $701,600 | |
| CAI | Caris Life Sciences, Inc. | +15,000 | 23,600 | $636,728 | |
| WBI | WaterBridge Infrastructure LLC | +15,000 | 40,000 | $800,400 | |
| 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. | −100,100 | 25,000 | $260,250 | |
| BEAG | Bold Eagle Acquisition Corp. | −63,208 | 117,662 | $1,244,863 | |
| LOKV | Live Oak Acquisition Corp. V | −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 | |
| ASIC | Ategrity Specialty Insurance Co Holdings | −5,000 | 10,300 | $216,403 | |
| PACS | PACS Group, Inc. | −5,000 | 7,500 | $287,925 | |
| SARO | StandardAero, Inc. | −5,000 | 15,000 | $430,200 | |
| KGS | Kodiak Gas Services, Inc. | −5,000 | 10,000 | $374,000 | |
| ETOR | eToro Group Ltd. | −5,000 | 5,000 | $175,650 | |
| GEMI | Gemini Space Station, Inc. | −4,937 | 4,563 | $45,264 | |
| KVYO | Klaviyo, Inc. | −3,466 | 6,534 | $212,158 | |
| VOYG | Voyager Technologies, Inc./DE | −3,000 | 2,500 | $65,350 | |
| KRMN | Karman Holdings Inc. | −2,500 | 2,500 | $182,925 | |
| CHYM | Chime Financial, Inc. | −2,500 | 12,500 | $314,625 | |
| 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 | 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 | |
| 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 | Open |
|---|---|---|---|---|
| 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. | ||||
3 positions ·
$519,050 total
· Utilities only
· as of Dec 31, 2025
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities