Q4 2025 · 13F-HR
Rangeley Capital, LLCholdings as filed
Filed 2026-02-17 · accession 0000919574-26-001155
$120.4M
Reported value
123
Positions
2025-12-31
Period end
The Brief · Rangeley Capital, LLC · Q4 2025
AI · grounded in 13F
Rangeley Capital, LLC initiated a new position in WBD valued at $7.9M. The fund also added new stakes in GOLDEN ENTMT INC for $5.7M and AVIDITY BIOSCIENCES INC for $3.9M. On the sell side, the manager closed its position in WOW, reducing exposure by $4.9M. Other exits included CHTR and SGRY, while the fund trimmed its holding in IWM by 75%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 934423104 | WBD | WARNER BROS DISCOVERY INC | $6.2M | 5.17% | 216,000 | Common | SOLE |
| 381013101 | GDEN | GOLDEN ENTMT INC | $5.7M | 4.74% | 209,881 | Common | SOLE |
| 131428104 | CLMT | CALUMET INC | $5.2M | 4.28% | 259,300 | Common | SOLE |
| G72800108 | PRTA | PROTHENA CORP PLC | $5.0M | 4.16% | 524,600 | Common | SOLE |
| 98585N106 | YEXT | YEXT INC | $4.7M | 3.92% | 585,360 | Common | SOLE |
| 04335A105 | ARVN | ARVINAS INC | $4.7M | 3.90% | 395,800 | Common | SOLE |
| 03879J100 | ABUS | ARBUTUS BIOPHARMA CORP | $4.0M | 3.36% | 840,000 | Common | SOLE |
| 05370A108 | RNAGBP | AVIDITY BIOSCIENCES INC | $3.9M | 3.23% | 54,000 | Common | SOLE |
| 760273102 | RPTX | REPARE THERAPEUTICS INC | $3.3M | 2.78% | 1,287,829 | Common | SOLE |
| 489398107 | KW | KENNEDY-WILSON HOLDINGS INC | $3.3M | 2.75% | 342,000 | Common | SOLE |
| 812215200 | SEG | SEAPORT ENTMT GROUP INC | $3.0M | 2.52% | 153,517 | Common | SOLE |
| 24665A103 | DK | DELEK US HLDGS INC NEW | $3.0M | 2.51% | 102,000 | Common | SOLE |
| G1051H101 | TACO | BERTO ACQUISITION CORP | $2.9M | 2.44% | 289,514 | Common | SOLE |
| 39854F101 | GRND | GRINDR INC | $2.9M | 2.38% | 212,000 | Common | SOLE |
| 278768106 | SATS | ECHOSTAR CORP | $2.6M | 2.17% | 24,000 | Common | SOLE |
| 729640102 | PLYM | PLYMOUTH INDL REIT INC | $2.5M | 2.07% | 114,000 | Common | SOLE |
| 359678109 | FLL | FULL HSE RESORTS INC | $2.3M | 1.94% | 896,000 | Common | SOLE |
| 492327101 | KROS | KEROS THERAPEUTICS INC | $2.0M | 1.64% | 96,800 | Common | SOLE |
| 185123106 | CWAN | CLEARWATER ANALYTICS HLDGS I | $1.9M | 1.60% | 80,000 | Common | SOLE |
| 34986A104 | FWRD | FORWARD AIR CORP | $1.9M | 1.58% | 76,000 | Common | SOLE |
| 81734D104 | SEPN | SEPTERNA INC | $1.8M | 1.52% | 65,800 | Common | SOLE |
| 64110Y108 | NLOP | NET LEASE OFFICE PROPERTIES | $1.8M | 1.47% | 68,480 | Common | SOLE |
| 934423104 | WBD | WARNER BROS DISCOVERY INC | $1.7M | 1.40% | 58,600 | CALL | SOLE |
| 59045L205 | MRSN | MERSANA THERAPEUTICS INC | $1.7M | 1.37% | 57,098 | Common | SOLE |
| G29687103 | AVDL | AVADEL PHARMACEUTICALS PLC | $1.6M | 1.36% | 75,953 | Common | SOLE |
| 10922N103 | BHF | BRIGHTHOUSE FINL INC | $1.6M | 1.35% | 25,000 | Common | SOLE |
| 85512G106 | STHO | STAR HLDGS | $1.5M | 1.28% | 187,100 | Common | SOLE |
| 524660107 | LEG | LEGGETT & PLATT INC | $1.5M | 1.24% | 135,930 | Common | SOLE |
| 21874A114 | CORZW | CORE SCIENTIFIC INC NEW | $1.4M | 1.17% | 96,400 | Common | SOLE |
| 127537207 | CDZI | CADIZ INC | $1.4M | 1.16% | 249,000 | Common | SOLE |
| 464287655 | IWM | ISHARES TR | $1.2M | 1.02% | 5,000 | PUT | SOLE |
| 81619Q105 | SEM | SELECT MED HLDGS CORP | $1.2M | 1.00% | 81,072 | Common | SOLE |
| 676118201 | OMEX | ODYSSEY MARINE EXPL INC | $1.2M | 0.99% | 608,749 | Common | SOLE |
| 864159108 | RGR | STURM RUGER & CO INC | $1.1M | 0.95% | 35,107 | Common | SOLE |
| 78501P203 | SWKH | SWK HLDGS CORP | $1.1M | 0.90% | 63,000 | Common | SOLE |
| 50127T109 | KURA | KURA ONCOLOGY INC | $1.1M | 0.89% | 102,900 | Common | SOLE |
| 61225M102 | GLUE | MONTE ROSA THERAPEUTICS INC | $1.1M | 0.88% | 67,500 | Common | SOLE |
| 87901J105 | TGNA | TEGNA INC | $1.0M | 0.85% | 53,000 | Common | SOLE |
| 088786108 | BCYC | BICYCLE THERAPEUTICS PLC | $934,560 | 0.78% | 132,000 | Common | SOLE |
| M9T951109 | ZIM | ZIM INTEGRATED SHIPPING SERV | $871,534 | 0.72% | 41,052 | Common | SOLE |
| 72703X106 | PL | PLANET LABS PBC | $788,800 | 0.66% | 40,000 | Common | SOLE |
| 52634L108 | LNSR | LENSAR INC | $686,170 | 0.57% | 59,000 | Common | SOLE |
| 43283X105 | HGV | HILTON GRAND VACATIONS INC | $671,250 | 0.56% | 15,000 | Common | SOLE |
| G9R39C103 | WENN | WEN ACQUISITION CORP | $631,553 | 0.52% | 62,530 | Common | SOLE |
| 37148K209 | — | GENERATION BIO CO | $558,230 | 0.46% | 98,280 | Common | SOLE |
| 83193E102 | EM | SMART SH GLOBAL LTD | $557,622 | 0.46% | 476,600 | Common | SOLE |
| 34986A104 | FWRD | FORWARD AIR CORP | $557,500 | 0.46% | 22,300 | CALL | SOLE |
| 50066V305 | KORE | KORE GROUP HLDGS INC | $554,284 | 0.46% | 131,347 | Common | SOLE |
| 49372L209 | 2KZ0 | KEZAR LIFE SCIENCES INC | $540,475 | 0.45% | 85,926 | Common | SOLE |
| 00370M103 | ABVX | ABIVAX SA | $539,420 | 0.45% | 4,000 | Common | SOLE |
| G17977110 | BUR | BURFORD CAP LTD | $517,360 | 0.43% | 58,000 | Common | SOLE |
| G3810N122 | GPACU | GENERAL PURP ACQUISITION COR | $500,500 | 0.42% | 50,000 | Common | SOLE |
| 23292B104 | HEPS | D MARKET ELECTR SVCS & TRADI | $496,000 | 0.41% | 200,000 | Common | SOLE |
| G7257A105 | PCAP | PROCAP ACQUISITION CORP | $479,190 | 0.40% | 47,304 | Common | SOLE |
| 344437405 | FONR | FONAR CORP | $466,097 | 0.39% | 25,113 | Common | SOLE |
| G7633M104 | DRDB | ROMAN DBDR ACQUISITION CORP | $450,576 | 0.37% | 43,200 | Common | SOLE |
| 89469A104 | THS | TREEHOUSE FOODS INC | $437,123 | 0.36% | 18,530 | Common | SOLE |
| G6717R104 | OACC | OAKTREE ACQUISITION CORP III | $423,539 | 0.35% | 40,032 | Common | SOLE |
| 68277Q105 | OKUR | ONKURE THERAPEUTICS INC | $420,500 | 0.35% | 145,000 | Common | SOLE |
| G3933N108 | GTERU | GLOBA TERRA ACQUISITION COR | $414,911 | 0.34% | 40,361 | Common | SOLE |
| 023634207 | NWAX/U | NEW AMER ACQUISITION I CORP | $414,000 | 0.34% | 40,000 | Common | SOLE |
| 10806X102 | BBIO | BRIDGEBIO PHARMA INC | $382,450 | 0.32% | 5,000 | CALL | SOLE |
| 89621C105 | TMQ | TRILOGY METALS INC NEW | $374,970 | 0.31% | 87,000 | Common | SOLE |
| 47103J105 | JANX | JANUX THERAPEUTICS INC | $350,713 | 0.29% | 25,414 | Common | SOLE |
| 98262P200 | WW | WW INTL INC | $350,580 | 0.29% | 12,000 | Common | SOLE |
| G2616F127 | BCARU | D. BORAL ARC ACQ I CORP. | $344,556 | 0.29% | 33,780 | Common | SOLE |
| G3415K101 | FERA | FIFTH ERA ACQUISITION CORP I | $344,283 | 0.29% | 33,458 | Common | SOLE |
| 74275G107 | PRTH | PRIORITY TECHNOLOGY HLDGS IN | $332,450 | 0.28% | 61,000 | Common | SOLE |
| N97284108 | NBIS | NEBIUS GROUP N.V. | $326,450 | 0.27% | 3,900 | Common | SOLE |
| G2851K120 | DMIIU | DRUGS MADE IN AMER ACQ II CO | $325,998 | 0.27% | 32,551 | Common | SOLE |
| 00289Y206 | ABEO | ABEONA THERAPEUTICS INC | $303,552 | 0.25% | 57,600 | Common | SOLE |
| 35104E100 | FDMT | 4D MOLECULAR THERAPEUTICS IN | $289,988 | 0.24% | 38,665 | Common | SOLE |
| 04683R106 | AVIR | ATEA PHARMACEUTICALS INC | $285,600 | 0.24% | 80,000 | Common | SOLE |
| G6791A126 | OTGAU | OTG ACQUISITION CORP. I | $280,429 | 0.23% | 27,520 | Common | SOLE |
| 10922N103 | BHF | BRIGHTHOUSE FINL INC | $278,597 | 0.23% | 4,300 | CALL | SOLE |
| 729139105 | PLRX | PLIANT THERAPEUTICS INC | $274,500 | 0.23% | 225,000 | Common | SOLE |
| G2584S135 | KOYNU | CSLM DIGITA ASSET ACQ CORP I | $264,051 | 0.22% | 26,092 | Common | SOLE |
| 29382R107 | EVC | ENTRAVISION COMMUNICATIONS C | $263,700 | 0.22% | 90,000 | Common | SOLE |
| 10482B200 | BHR 5.5 PERP b | BRAEMAR HOTELS & RESORTS INC | $255,398 | 0.21% | 17,245 | Common | SOLE |
| 36472T109 | TDAY | USA TODAY CO INC | $243,595 | 0.20% | 47,300 | Common | SOLE |
| 716382106 | PETS | PETMED EXPRESS INC | $240,000 | 0.20% | 75,000 | Common | SOLE |
| 713317105 | PEPG | PEPGEN INC | $235,662 | 0.20% | 36,200 | Common | SOLE |
| G7117W123 | PACHU | PIONEER ACQUISITION I CORP | $226,322 | 0.19% | 22,145 | Common | SOLE |
| 30161Q104 | EXEL | EXELIXIS INC | $219,150 | 0.18% | 5,000 | Common | SOLE |
| G2254C121 | CCII | COHEN CIRCLE ACQUISIT CORP I | $212,876 | 0.18% | 20,809 | Common | SOLE |
| 10482B101 | BHR | BRAEMAR HOTELS & RESORTS INC | $212,079 | 0.18% | 73,895 | Common | SOLE |
| 25401T603 | DBRG | DIGITALBRIDGE GROUP INC | $211,692 | 0.18% | 13,800 | Common | SOLE |
| 007002207 | ACET | ADICET BIO INC | $210,508 | 0.17% | 25,001 | Common | SOLE |
| G7515A103 | RDAG | REPUBLIC DIGITAL ACQUISITION | $204,404 | 0.17% | 20,188 | Common | SOLE |
| N90064101 | QURE | UNIQURE NV | $203,405 | 0.17% | 8,500 | Common | SOLE |
| G4569C127 | HVMCU | HIGHVIEW MERGER CORP | $202,600 | 0.17% | 20,000 | Common | SOLE |
| 415864107 | NVRI | ENVIRI CORP | $191,153 | 0.16% | 10,667 | Common | SOLE |
| 76200L309 | RZLT | REZOLUTE INC | $184,552 | 0.15% | 78,200 | Common | SOLE |
| G3037D105 | EMIS | EMMIS ACQUISITION CORP. | $180,165 | 0.15% | 18,107 | Common | SOLE |
| 78574H104 | SOC | SABLE OFFSHORE CORP | $171,380 | 0.14% | 19,000 | Common | SOLE |
| 46005L101 | IMXI | INTERNATIONAL MNY EXPRESS IN | $153,600 | 0.13% | 10,000 | Common | SOLE |
| 589492107 | MREO | MEREO BIOPHARMA GROUP PLC | $151,679 | 0.13% | 364,000 | Common | SOLE |
| 21874A106 | CORZ | CORE SCIENTIFIC INC NEW | $145,600 | 0.12% | 10,000 | Common | SOLE |
| 729640102 | PLYM | PLYMOUTH INDL REIT INC | $142,220 | 0.12% | 6,500 | CALL | SOLE |
| G4365E103 | HCMA | HCM III ACQUISITION CORP | $141,022 | 0.12% | 14,046 | Common | SOLE |
| 45175G207 | IMA | IMAGENEBIO INC | $125,884 | 0.10% | 18,244 | Common | SOLE |
| 15126Q208 | CPAC | CEMENTOS PACASMAYO S A A | $125,040 | 0.10% | 12,000 | Common | SOLE |
| G8316B100 | SPKL | SPARK I ACQUISITION CORP | $123,593 | 0.10% | 10,813 | Common | SOLE |
| 87652V109 | TASK | TASKUS INC | $117,900 | 0.10% | 10,000 | Common | SOLE |
| G7010A129 | PMTR | PERIMETER ACQUISITION CORP I | $102,800 | 0.09% | 10,000 | Common | SOLE |
| G98659108 | MCGAU | YORKVILLE ACQUISITION CORP. | $102,600 | 0.09% | 10,000 | Common | SOLE |
| G73944103 | RAAQ | REAL ASSET ACQUISITION CORP | $102,200 | 0.08% | 10,000 | Common | SOLE |
| 82981J851 | SITC | SITE CTRS CORP | $89,880 | 0.07% | 14,000 | Common | SOLE |
| 586001109 | 75Z | SOHO HOUSE & CO INC | $89,600 | 0.07% | 10,000 | Common | SOLE |
| 037326105 | ANTX | AN2 THERAPEUTICS INC | $74,100 | 0.06% | 65,000 | Common | SOLE |
| 65487U108 | NKTX | NKARTA INC | $59,344 | 0.05% | 32,078 | Common | SOLE |
| 91864C107 | BRNS | BARINTHUS BIOTHERAPEUTICS PL | $59,117 | 0.05% | 84,441 | Common | SOLE |
| 92941V308 | VYNE | VYNE THERAPEUTICS INC | $58,010 | 0.05% | 100,000 | Common | SOLE |
| 69353Y103 | PMVP | PMV PHARMACEUTICALS INC | $56,875 | 0.05% | 45,500 | Common | SOLE |
| 034569103 | ANEB | ANEBULO PHARMACEUTICALS INC | $50,500 | 0.04% | 50,000 | Common | SOLE |
| 556099109 | MGNX | MACROGENICS INC | $48,654 | 0.04% | 30,220 | Common | SOLE |
| 81578P106 | SEER | SEER INC | $36,600 | 0.03% | 20,000 | Common | SOLE |
| 47089W104 | AIFC | ALT5 SIGMA CORP | $31,900 | 0.03% | 29,000 | Common | SOLE |
| 75120L100 | — | RALLYBIO CORP | $27,444 | 0.02% | 40,000 | Common | SOLE |
| G3037D113 | EMISR | EMMIS ACQUISITION CORP. | $18,053 | 0.01% | 18,107 | Common | SOLE |
| 415864107 | NVRI | ENVIRI CORP | $17,920 | 0.01% | 1,000 | CALL | SOLE |
| G6301B127 | MLACR | MOUNTAIN LAKE ACQUISITION CO | $15,600 | 0.01% | 15,000 | Common | SOLE |
| 729640102 | PLYM | PLYMOUTH INDL REIT INC | $2,188 | 0.00% | 100 | PUT | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.