MC
MIG Capital, LLC 13F Portfolio Snapshot & Holdings (Q4 2025)
MIG Capital, LLCCIK: 0001425649
Sector-focusedContrarianDiversified strategy
Total reported value
$589.4M
Reporting period: 2025-12-31 · Number of holdings: 43
MIG Capital, LLC disclosed 43 holdings in its latest 13F filing for the period ending 2025-12-31, with total reported value of $589.4M and a quarterly turnover rate of 30.6%.
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Personality snowflake
- Concentration
- 17.44
- Portfolio Stability
- 30.65
- Momentum
- 0
- Sector conviction
- 100
- Diversification
- 86
- Sizing Uniformity
- 90.54
MIG Capital, LLC's disclosed holdings carry a Herfindahl concentration index of 0.044 — mathematically equivalent to about 23 equally-sized positions, well below its 43 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.95), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 55% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim SHC
-53.5% -$31.8M
Trim CELH
-22.3% -$21.0M
Trim NOW
-10.4% -$14.7M
Add GOOG
-7.2% $5.3M
Trim TSM
-37.7% -$9.6M
Add MU
0.0% $4.4M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | META | Meta Platforms Inc-class A | Stock-Comm Services | 8.90% | +0.42% | — | |
| 2 | DXCM | Dexcom Inc | Stock-Healthcare | 6.82% | +0.90% | — | |
| 3 | SHC | Sotera Health Co | Stock-Other | 5.88% | -3.78% | -53.52% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 5.81% | +0.48% | — | |
| 5 | CELH | Celsius Holdings Inc | Stock-Consumer Staples | 5.76% | -2.22% | -22.34% | |
| 6 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 5.53% | +1.57% | -7.20% | |
| 7 | CACC | Credit Acceptance CORP | Stock-Other | 5.24% | +0.33% | -3.76% | |
| 8 | KNF | Knife River CORP | Stock-Materials | 4.93% | +0.31% | — | |
| 9 | AVGO | Broadcom Inc | Stock-Tech | 4.72% | -0.01% | -18.69% | |
| 10 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 4.59% | +0.75% | — | |
| 11 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 3.44% | -0.90% | -37.72% | |
| 12 | FLUT | Flutter Entertainment plc | Stock-Consumer Disc | 3.34% | -0.04% | — | |
| 13 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.23% | +0.26% | -11.33% | |
| 14 | SMH | Vaneck Semiconductor ETF | ETF-Other | 3.20% | +0.72% | — | |
| 15 | WMS | Advanced Drainage Systems In | Stock-Industrials | 2.94% | -0.68% | -33.45% | |
| 16 | CCOI | Cogent Communications Holdin | Stock-Other | 2.08% | +2.08% | NEW | |
| 17 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.98% | +0.78% | — | |
| 18 | WDC | Western Digital CORP | Stock-Tech | 1.97% | +0.79% | — | |
| 19 | MU | Micron Technology Inc | Stock-Tech | 1.80% | +0.90% | — | |
| 20 | STX | Seagate Technology Holdings plc | Stock-Tech | 1.50% | +0.40% | — | |
| 21 | MDB | Mongodb Inc | Stock-Tech | 1.28% | +0.47% | — | |
| 22 | LRCX | Lam Research CORP | Stock-Tech | 1.21% | +0.40% | — | |
| 23 | COHR | Coherent CORP | Stock-Tech | 1.15% | +0.58% | — | |
| 24 | RDDT | Reddit Inc-cl A | Stock-Comm Services | 1.07% | +0.15% | — | |
| 25 | KLAC | Kla CORP | Stock-Tech | 0.92% | +0.22% | — | |
| 26 | SHOP | Shopify Inc - Class A | Stock-Tech | 0.89% | +0.19% | — | |
| 27 | AMAT | Applied Materials Inc | Stock-Tech | 0.89% | +0.28% | — | |
| 28 | CIEN | Ciena CORP | Stock-Tech | 0.76% | +0.76% | NEW | |
| 29 | SNX | TD Synnex CORP | Stock-Tech | 0.70% | +0.04% | — | |
| 30 | NVDA | Nvidia CORP | Stock-Tech | 0.70% | +0.10% | — | |
| 31 | DDOG | Datadog Inc - Class A | Stock-Tech | 0.66% | +0.06% | — | |
| 32 | CRWD | Crowdstrike Holdings Inc - A | Stock-Tech | 0.66% | +0.14% | +14.12% | |
| 33 | PTC | Ptc Inc | Stock-Tech | 0.59% | — | — | |
| 34 | RBLX | Roblox CORP -class A | Stock-Comm Services | 0.58% | -0.28% | — | |
| 35 | ADSK | Autodesk Inc | Stock-Tech | 0.58% | +0.05% | — | |
| 36 | SNOW | Snowflake Inc | Stock-Tech | 0.58% | +0.07% | — | |
| 37 | SPOT | Spotify Technology S.A. | Stock-Comm Services | 0.51% | -0.02% | — | |
| 38 | ZS | Zscaler Inc | Stock-Tech | 0.51% | -0.07% | — | |
| 39 | ORCL | Oracle CORP | Stock-Tech | 0.50% | -0.12% | — | |
| 40 | PANW | Palo Alto Networks Inc | Stock-Tech | 0.45% | +0.45% | NEW | |
| 41 | NFLX | Netflix Inc | Stock-Comm Services | 0.45% | -0.04% | +900.00% | |
| 42 | NOW | Servicenow Inc | Stock-Tech | 0.44% | -2.07% | -10.42% | |
| 43 | SNPS | Synopsys Inc | Stock-Tech | 0.27% | +0.03% | — |
Portfolio Performance
Performance for Q3 2026
-2%
Performance Last 4 Quarters
+14.2%
- Stdev
- +20.8%
- Beta
- +1.35
- Alpha
- -14.9%
- Max Drawdown
- -11.9%
- Annualized Perf
- +10.6%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +1.06
- Stutzer
- +0.17
- Treynor
- +0.09
- Sterling
- +0.55
- Calmar
- +0.9
- Information Ratio
- -0.65
- Tracking Error
- +12.1%
- Stdev Down
- +11.6%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +32.8%
- Worst 12 Months
- -5.8%
- Efficiency Ratio
- +0.22
- Sharpe
- +0.59
- Stdev Sectors
- +15.9%
- Skewness
- +0.53
- Kurtosis
- +0.5
- Upside Potential
- +2.83
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2025 Q4 | 43 | $589.4M | 31 | ||
| 2025 Q3 | 44 | $688.5M | 91 | ||
| 2025 Q2 | 56 | $969.2M | 0 | ||
| 2025 Q1 | 55 | $804.3M | 100 | ||
| 2024 Q4 | 72 | $970.9M | 0 | ||
| 2024 Q3 | 19 | $824.3M | 0 | ||
| 2024 Q2 | 19 | $750.6M | 0 | ||
| 2024 Q1 | 16 | $719.4M | 0 | ||
| 2023 Q4 | 17 | $715.7M | 0 | ||
| 2023 Q3 | 14 | $540.1M | 0 | ||
| 2023 Q2 | 15 | $552.8M | 0 | ||
| 2023 Q1 | 18 | $578.3M | 0 | ||
| 2022 Q4 | 17 | $509.4M | 0 | ||
| 2022 Q3 | 19 | $544.8M | 0 | ||
| 2022 Q2 | 20 | $607.5M | 0 | ||
| 2022 Q1 | 27 | $975.4M | 0 | ||
| 2021 Q4 | 23 | $1.0B | 0 | ||
| 2021 Q3 | 24 | $1.0B | 0 | ||
| 2021 Q2 | 26 | $1.1B | 95 | ||
| 2021 Q1 | 24 | $1.0B | 27 | ||
| 2020 Q4 | 23 | $1.1B | 36 | ||
| 2020 Q3 | 23 | $980.7M | 23 | ||
| 2020 Q2 | 26 | $971.7M | 61 | ||
| 2020 Q1 | 31 | $850.0M | 71 | ||
| 2019 Q4 | 22 | $912.7M | 31 | ||
| 2019 Q3 | 22 | $774.3M | 100 | ||
| 2019 Q2 | 19 | $620.5M | 0 | ||
| 2019 Q1 | 32 | $737.4M | 40 | ||
| 2018 Q4 | 30 | $704.5M | 29 | ||
| 2018 Q3 | 38 | $749.7M | 30 | ||
| 2018 Q2 | 37 | $705.3M | 33 | ||
| 2018 Q1 | 25 | $655.4M | 29 | ||
| 2017 Q4 | 23 | $743.7M | 30 | ||
| 2017 Q3 | 29 | $696.1M | 15 | ||
| 2017 Q2 | 26 | $656.7M | 21 | ||
| 2017 Q1 | 27 | $659.3M | 29 | ||
| 2016 Q4 | 23 | $575.0M | 36 | ||
| 2016 Q3 | 24 | $547.1M | 56 | ||
| 2016 Q2 | 23 | $459.9M | 34 | ||
| 2016 Q1 | 26 | $463.4M | 34 | ||
| 2015 Q4 | 30 | $414.4M | 54 | ||
| 2015 Q3 | 32 | $415.2M | 82 | ||
| 2015 Q2 | 29 | $529.8M | 78 | ||
| 2015 Q1 | 25 | $315.0M | 38 | ||
| 2014 Q4 | 27 | $325.5M | 39 | ||
| 2014 Q3 | 25 | $269.6M | 32 | ||
| 2014 Q2 | 26 | $258.7M | 25 | ||
| 2014 Q1 | 28 | $268.5M | 27 | ||
| 2013 Q4 | 23 | $228.8M | 20 | ||
| 2013 Q3 | 24 | $222.2M | 19 | ||
| 2013 Q2 | 24 | $204.3M | 0 |
Holding changes this quarter
MIG Capital, LLC's most significant position changes for 2025-12-31: Sold out: Elevance Health Inc (ELV); New buy: Cogent Communications Holdin (CCOI); New buy: Ciena CORP (CIEN); Sold out: Mercadolibre Inc (MELI); Sold out: Intuit Inc (INTU).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | +1.6% | -7.20% | Trim |
| 2 | MU | Micron Technology Inc | +0.9% | — | Unchanged |
| 3 | DXCM | Dexcom Inc | +0.9% | — | Unchanged |
| 4 | WDC | Western Digital CORP | +0.8% | — | Unchanged |
| 5 | LLY | Eli Lilly & Co | +0.8% | — | Unchanged |
| 6 | QQQ | Invesco Qqq Trust Series 1 | +0.8% | — | Unchanged |
| 7 | SMH | Vaneck Semiconductor ETF | +0.7% | — | Unchanged |
| 8 | COHR | Coherent CORP | +0.6% | — | Unchanged |
| 9 | MSFT | Microsoft CORP | +0.5% | — | Unchanged |
| 10 | MDB | Mongodb Inc | +0.5% | — | Unchanged |
| 11 | META | Meta Platforms Inc-class A | +0.4% | — | Unchanged |
| 12 | LRCX | Lam Research CORP | +0.4% | — | Unchanged |
| 13 | STX | Seagate Technology Holdings plc | +0.4% | — | Unchanged |
| 14 | CACC | Credit Acceptance CORP | +0.3% | -3.76% | Trim |
| 15 | KNF | Knife River CORP | +0.3% | — | Unchanged |
| 16 | AMAT | Applied Materials Inc | +0.3% | — | Unchanged |
| 17 | AMZN | Amazon.com Inc | +0.3% | -11.33% | Trim |
| 18 | KLAC | Kla CORP | +0.2% | — | Unchanged |
| 19 | SHOP | Shopify Inc - Class A | +0.2% | — | Unchanged |
| 20 | RDDT | Reddit Inc-cl A | +0.2% | — | Unchanged |
| 21 | CRWD | Crowdstrike Holdings Inc - A | +0.1% | +14.12% | Add |
| 22 | NVDA | Nvidia CORP | +0.1% | — | Unchanged |
| 23 | SNOW | Snowflake Inc | +0.1% | — | Unchanged |
| 24 | DDOG | Datadog Inc - Class A | +0.1% | — | Unchanged |
| 25 | ADSK | Autodesk Inc | +0.1% | — | Unchanged |
| 26 | SNX | TD Synnex CORP | 0% | — | Unchanged |
| 27 | SNPS | Synopsys Inc | 0% | — | Unchanged |
| 28 | PTC | Ptc Inc | — | — | Unchanged |
| 29 | AVGO | Broadcom Inc | 0% | -18.69% | Trim |
| 30 | SPOT | Spotify Technology S.A. | 0% | — | Unchanged |
| 31 | FLUT | Flutter Entertainment plc | 0% | — | Unchanged |
| 32 | NFLX | Netflix Inc | 0% | +900.00% | Add |
| 33 | ZS | Zscaler Inc | -0.1% | — | Unchanged |
| 34 | ORCL | Oracle CORP | -0.1% | — | Unchanged |
| 35 | RBLX | Roblox CORP -class A | -0.3% | — | Unchanged |
| 36 | WMS | Advanced Drainage Systems In | -0.7% | -33.45% | Trim |
| 37 | TSM | Taiwan Semiconductor-sp Adr | -0.9% | -37.72% | Trim |
| 38 | NOW | Servicenow Inc | -2.1% | -10.42% | Trim |
| 39 | CELH | Celsius Holdings Inc | -2.2% | -22.34% | Trim |
| 40 | SHC | Sotera Health Co | -3.8% | -53.52% | Trim |
| 41 | ELV | Elevance Health Inc | — | EXIT | Sold out |
| 42 | CCOI | Cogent Communications Holdin | — | NEW | New buy |
| 43 | CIEN | Ciena CORP | — | NEW | New buy |
| 44 | MELI | Mercadolibre Inc | — | EXIT | Sold out |
| 45 | INTU | Intuit Inc | — | EXIT | Sold out |
| 46 | PANW | Palo Alto Networks Inc | — | NEW | New buy |
Filing History
FAQ
What is MIG Capital, LLC and what type of investor is it?
MIG Capital, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2025-12-31), the firm manages a tracked equity portfolio valued at approximately $589.4M, spread across 43 disclosed positions.
What are MIG Capital, LLC's largest equity positions?
Based on the latest 13F filing, MIG Capital, LLC's top holdings by market value are:
1. Meta Platforms Inc-class A (META) — $52.4M (8.9%)
2. Dexcom Inc (DXCM) — $40.2M (6.8%)
3. Sotera Health Co (SHC) — $34.7M (5.9%)
4. Microsoft CORP (MSFT) — $34.2M (5.8%)
5. Celsius Holdings Inc (CELH) — $33.9M (5.8%)
What changes did MIG Capital, LLC make in its most recent portfolio filing?
In the latest reported quarter, MIG Capital, LLC made 17 notable position adjustments: 3 new positions were initiated, 2 existing holdings were added to, 9 positions were partially reduced, and 3 were completely exited. The largest of these moves: Sold out: Elevance Health Inc (ELV); New buy: Cogent Communications Holdin (CCOI); New buy: Ciena CORP (CIEN); Sold out: Mercadolibre Inc (MELI); Sold out: Intuit Inc (INTU)
What sectors does MIG Capital, LLC focus on?
MIG Capital, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 48.2%
• Communication Services: 30.0%
• Health Care: 16.0%
• Consumer Discretionary: 5.9%
Investment Profile
MIG Capital, LLC returned an annualized 10.6% over the trailing 36 months — underperforming the S&P 500 by 14.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.35 (more volatile than the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 48.2% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 31 over the past 4 quarters — a shift toward more active trading.
It has added to its WDC position over the past two quarters (+$8.3M, now $11.6M), while trimming CACC over the same stretch (-$27.8M, still holding $30.9M).
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