CIK: 0001814465
Total reported value
$341.4M
Reporting period: 2026-03-31 · Number of holdings: 18
FINDELL CAPITAL MANAGEMENT LLC disclosed 18 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $341.4M and a quarterly turnover rate of 36.9%.
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Findell Capital Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.201 — mathematically equivalent to about 5 equally-sized positions, well below its 18 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.60), with a handful of outsized bets alongside many smaller positions.
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 6% 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.
Trim G31249108
-11.7% -$25.7M
Add DAVE
+142.9% $14.1M
Trim LQDA
-15.6% -$11.1M
Trim EHTH
-87.3% -$6.3M
Add ABVX
+118.8% $5.2M
Trim TPB
-25.2% -$5.5M
Showing top 17 holdings (of 18 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | LQDA | Liquidia CORP | Stock-Other | 39.26% | -2.47% | -15.58% | |
| 2 | ✓ | Establishment Labs Hldgs INC | Stock-Other | 16.59% | -7.10% | -11.74% | |
| 3 | DAVE | Dave INC | Stock-Other | 8.67% | +4.21% | +142.86% | |
| 4 | ROOT | Root Inc/oh -class A | Stock-Other | 4.85% | -0.03% | +59.57% | |
| 5 | SGHC | Super Group (SGHC) Limited | Stock-Other | 4.74% | +1.51% | +59.57% | |
| 6 | GEO | Geo Group Inc/the | Stock-Other | 4.31% | +1.30% | +34.62% | |
| 7 | OPRT | Oportun Financial CORP | Stock-Other | 3.71% | -0.20% | +7.01% | |
| 8 | ABVX | Abivax Sa-adr | Stock-Other | 3.42% | +1.56% | +118.75% | |
| 9 | CVE | Cenovus Energy INC | Stock-Energy | 2.91% | +2.91% | NEW | |
| 10 | ACHC | Acadia Healthcare Co INC | Stock-Other | 2.60% | +2.60% | NEW | |
| 11 | TPB | Turning Point Brands INC | Stock-Other | 2.41% | -1.55% | -25.20% | |
| 12 | CELH | Celsius Holdings INC | Stock-Consumer Staples | 2.08% | -0.68% | -4.76% | |
| 13 | MLYS | Mineralys Therapeutics INC | Stock-Other | 1.60% | +1.08% | +304.00% | |
| 14 | VET | Vermilion Energy INC | Stock-Other | 1.49% | +1.49% | NEW | |
| 15 | APLD | Applied Digital CORP | Stock-Tech | 1.18% | +1.18% | NEW | |
| 16 | BTU | Peabody Energy CORP | Stock-Energy | 0.08% | +0.08% | NEW | |
| 17 | EHTH | Ehealth INC | Stock-Other | 0.07% | -1.79% | -87.29% |
Performance for Q3 2026
+73.6%
Performance Last 4 Quarters
+120.8%
Based on 77% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 18 | $341.4M | 37 | |
| 2025-12-31 | 17 | $347.8M | 56 | |
| 2025-09-30 | 15 | $253.4M | 74 | |
| 2025-06-30 | 12 | $205.3M | 0 | |
| 2025-03-31 | 13 | $208.0M | 0 | |
| 2024-12-31 | 18 | $244.5M | 0 | |
| 2024-09-30 | 21 | $198.5M | 0 | |
| 2024-06-30 | 19 | $207.3M | 0 | |
| 2024-03-31 | 18 | $190.8M | 0 | |
| 2023-12-31 | 18 | $158.9M | 0 |
Findell Capital Management LLC's most significant position changes for 2026-03-31: New buy: Cenovus Energy INC (CVE); New buy: Acadia Healthcare Co INC (ACHC); Sold out: Stride INC (LRN); Sold out: Adma Biologics INC (ADMA); New buy: Vermilion Energy INC (VET).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | DAVE | Dave INC | +4.2% | +142.86% | Add |
| 2 | ABVX | Abivax Sa-adr | +1.6% | +118.75% | Add |
| 3 | SGHC | Super Group (SGHC) Limited | +1.5% | +59.57% | Add |
| 4 | GEO | Geo Group Inc/the | +1.3% | +34.62% | Add |
| 5 | MLYS | Mineralys Therapeutics INC | +1.1% | +304.00% | Add |
| 6 | ROOT | Root Inc/oh -class A | 0% | +59.57% | Add |
| 7 | OPRT | Oportun Financial CORP | -0.2% | +7.01% | Add |
| 8 | CELH | Celsius Holdings INC | -0.7% | -4.76% | Trim |
| 9 | TPB | Turning Point Brands INC | -1.6% | -25.20% | Trim |
| 10 | EHTH | Ehealth INC | -1.8% | -87.29% | Trim |
| 11 | LQDA | Liquidia CORP | -2.5% | -15.58% | Trim |
| 12 | ✓ | Establishment Labs Hldgs INC | -7.1% | -11.74% | Trim |
| 13 | CVE | Cenovus Energy INC | — | NEW | New buy |
| 14 | ACHC | Acadia Healthcare Co INC | — | NEW | New buy |
| 15 | LRN | Stride INC | — | EXIT | Sold out |
| 16 | ADMA | Adma Biologics INC | — | EXIT | Sold out |
| 17 | VET | Vermilion Energy INC | — | NEW | New buy |
| 18 | APLD | Applied Digital CORP | — | NEW | New buy |
| 19 | VOR | Vor Biopharma INC | — | EXIT | Sold out |
| 20 | BTU | Peabody Energy CORP | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-21 | Amendment | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
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