Q4 2025 · 13F-HR
Kerrisdale Advisers, LLCholdings as filed
Filed 2026-02-17 · accession 0001172661-26-000916
$212.3M
Reported value
76
Positions
2025-12-31
Period end
The Brief · Kerrisdale Advisers, LLC · Q4 2025
AI · grounded in 13F
Kerrisdale Advisers, LLC established a new position in TELEPHONE & DATA SYS INC valued at $20.7M. The fund also increased its holdings in KVUE by 109.4% and SYY by 108.3%. On the sell side, the fund closed its positions in FTRE and IMXI, while trimming its stake in WDC by 73.2%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 879433829 | TDS | TELEPHONE & DATA SYS INC | $20.7M | 9.77% | 506,067 | Common | SOLE |
| 58733R102 | MELI | MERCADOLIBRE INC | $17.3M | 8.13% | 8,564 | Common | SOLE |
| 871829107 | SYY | SYSCO CORP | $15.6M | 7.33% | 211,229 | Common | SOLE |
| 92826C839 | V | VISA INC | $13.8M | 6.52% | 39,472 | Common | SOLE |
| 00108J109 | ACMR | ACM RESH INC | $10.4M | 4.90% | 263,482 | Common | SOLE |
| 83601L102 | SHC | SOTERA HEALTH CO | $9.8M | 4.63% | 556,854 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $9.5M | 4.50% | 41,371 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $9.2M | 4.33% | 29,387 | Common | SOLE |
| 49177J102 | KVUE | KENVUE INC | $5.9M | 2.79% | 343,837 | Common | SOLE |
| 40090E106 | CIB | GRUPO CIBEST SA | $5.8M | 2.73% | 91,110 | Common | SOLE |
| G65431127 | NE | NOBLE CORP PLC | $4.2M | 1.96% | 147,621 | Common | SOLE |
| 871607107 | SNPS | SYNOPSYS INC | $3.9M | 1.86% | 8,406 | Common | SOLE |
| 86333M108 | LRN | STRIDE INC | $3.9M | 1.82% | 59,665 | Common | SOLE |
| 907818108 | UNP | UNION PAC CORP | $3.8M | 1.79% | 16,402 | Common | SOLE |
| 03783C100 | APPF | APPFOLIO INC | $3.7M | 1.76% | 16,016 | Common | SOLE |
| 29260V105 | DAVA | ENDAVA PLC | $3.6M | 1.69% | 567,416 | Common | SOLE |
| 98980F104 | GTM | ZOOMINFO TECHNOLOGIES INC | $3.5M | 1.67% | 348,428 | Common | SOLE |
| 565394103 | CART | MAPLEBEAR INC | $3.3M | 1.55% | 73,040 | Common | SOLE |
| 98980L101 | ZNGA | ZOOM COMMUNICATIONS INC | $3.3M | 1.54% | 37,799 | Common | SOLE |
| 25243Q205 | DEO | DIAGEO PLC | $2.7M | 1.27% | 31,133 | Common | SOLE |
| 52476L109 | LGN | LEGENCE CORP | $2.6M | 1.25% | 61,495 | Common | SOLE |
| 023586506 | UHAL/B | U HAUL HOLDING COMPANY | $2.6M | 1.22% | 55,241 | Common | SOLE |
| 22266T109 | CPNG | COUPANG INC | $2.6M | 1.21% | 109,085 | Common | SOLE |
| H2927K103 | AMRZ | AMRIZE LTD | $2.5M | 1.20% | 47,050 | Common | SOLE |
| G9460G101 | VAL | VALARIS LTD | $2.5M | 1.19% | 50,024 | Common | SOLE |
| 558256103 | MSGE | MADISON SQUARE GARDEN ENTMT | $2.3M | 1.09% | 42,969 | Common | SOLE |
| 934550203 | WMG | WARNER MUSIC GROUP CORP | $2.0M | 0.96% | 66,530 | Common | SOLE |
| 760125104 | RTO | RENTOKIL INITIAL PLC | $2.0M | 0.95% | 68,778 | Common | SOLE |
| 682189105 | ON | ON SEMICONDUCTOR CORP | $2.0M | 0.95% | 37,210 | Common | SOLE |
| 595112103 | MU | MICRON TECHNOLOGY INC | $2.0M | 0.93% | 6,942 | Common | SOLE |
| 958102105 | WDC | WESTERN DIGITAL CORP | $2.0M | 0.92% | 11,384 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $1.9M | 0.91% | 5,828 | Common | SOLE |
| 047649108 | ATKR | ATKORE INC | $1.8M | 0.84% | 28,074 | Common | SOLE |
| G7997R103 | STX | SEAGATE TECHNOLOGY HLDNGS PL | $1.6M | 0.74% | 5,724 | Common | SOLE |
| G29183103 | ETN | EATON CORP PLC | $1.5M | 0.72% | 4,797 | Common | SOLE |
| 929740108 | WAB | WABTEC | $1.5M | 0.70% | 6,925 | Common | SOLE |
| 790148100 | JOE | ST JOE CO | $1.4M | 0.67% | 23,990 | Common | SOLE |
| 35138V102 | FOXF | FOX FACTORY HLDG CORP | $1.4M | 0.67% | 82,979 | Common | SOLE |
| 49338L103 | KEYS | KEYSIGHT TECHNOLOGIES INC | $1.3M | 0.63% | 6,613 | Common | SOLE |
| 71654V408 | PBR | PETROLEO BRASILEIRO SA PETRO | $1.3M | 0.62% | 111,126 | Common | SOLE |
| 806407102 | HSIC | HENRY SCHEIN INC | $1.2M | 0.57% | 16,026 | Common | SOLE |
| 499049104 | KNX | KNIGHT-SWIFT TRANSN HLDGS IN | $1.2M | 0.56% | 22,587 | Common | SOLE |
| 53115L104 | LBRT | LIBERTY ENERGY INC | $1.2M | 0.55% | 63,805 | Common | SOLE |
| 48581R205 | KSPI | KASPI KZ JSC | $1.1M | 0.50% | 13,665 | Common | SOLE |
| 37637K108 | GTLB | GITLAB INC | $963,958 | 0.45% | 25,685 | Common | SOLE |
| 159864107 | CRL | CHARLES RIV LABS INTL INC | $916,212 | 0.43% | 4,593 | Common | SOLE |
| 12634H200 | PMTS | CPI CARD GROUP INC | $892,485 | 0.42% | 60,796 | Common | SOLE |
| 13321L108 | CCJ | CAMECO CORP | $883,336 | 0.42% | 9,655 | Common | SOLE |
| 099502106 | BAH | BOOZ ALLEN HAMILTON HLDG COR | $797,371 | 0.38% | 9,452 | Common | SOLE |
| M78673114 | PERI | PERION NETWORK LTD | $723,894 | 0.34% | 75,563 | Common | SOLE |
| 500643200 | KFY | KORN FERRY | $692,418 | 0.33% | 10,488 | Common | SOLE |
| 279158109 | EC | ECOPETROL S A | $676,901 | 0.32% | 67,555 | Common | SOLE |
| 023586100 | UHAL | U HAUL HOLDING COMPANY | $640,913 | 0.30% | 12,714 | Common | SOLE |
| 163851108 | CC | CHEMOURS CO | $617,808 | 0.29% | 52,401 | Common | SOLE |
| 398433102 | GFF | GRIFFON CORP | $526,598 | 0.25% | 7,150 | Common | SOLE |
| 674482203 | OBE | OBSIDIAN ENERGY LTD | $515,358 | 0.24% | 84,060 | Common | SOLE |
| 337738108 | FISV | FISERV INC | $512,507 | 0.24% | 7,630 | Common | SOLE |
| 53635D202 | LQDA | LIQUIDIA CORPORATION | $511,142 | 0.24% | 14,820 | Common | SOLE |
| 65340P106 | NXE | NEXGEN ENERGY LTD | $468,252 | 0.22% | 50,883 | Common | SOLE |
| 22717L101 | CRON | CRONOS GROUP INC | $452,060 | 0.21% | 171,886 | Common | SOLE |
| 444144109 | HDSN | HUDSON TECHNOLOGIES INC | $394,711 | 0.19% | 57,622 | Common | SOLE |
| 75734B100 | RDDT | REDDIT INC | $394,227 | 0.19% | 1,715 | Common | SOLE |
| 83304A106 | SNAP | SNAP INC | $313,923 | 0.15% | 38,900 | Common | SOLE |
| 40053W101 | AVAL | GRUPO AVAL ACCIONES Y VALORE | $303,750 | 0.14% | 75,000 | Common | SOLE |
| 674599105 | OXY | OCCIDENTAL PETE CORP | $289,896 | 0.14% | 7,050 | Common | SOLE |
| 88025T102 | TENB | TENABLE HLDGS INC | $275,772 | 0.13% | 11,720 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $274,213 | 0.13% | 567 | Common | SOLE |
| 749360400 | RCMT | RCM TECHNOLOGIES INC | $263,557 | 0.12% | 12,891 | Common | SOLE |
| Y62267409 | NMM | NAVIOS MARITIME PARTNERS L P | $240,654 | 0.11% | 4,590 | Common | SOLE |
| 248356107 | DNN | DENISON MINES CORP | $230,888 | 0.11% | 86,800 | Common | SOLE |
| 74934Q108 | RICK | RCI HOSPITALITY HLDGS INC | $220,592 | 0.10% | 9,253 | Common | SOLE |
| 825690100 | SSTK | SHUTTERSTOCK INC | $205,612 | 0.10% | 10,765 | Common | SOLE |
| 01609W102 | BABA | ALIBABA GROUP HLDG LTD | $200,228 | 0.09% | 1,366 | Common | SOLE |
| 23291C103 | BOOM | DMC GLOBAL INC | $137,091 | 0.06% | 20,492 | Common | SOLE |
| 14427M107 | PRTS | CARPARTS COM INC | $126,248 | 0.06% | 252,495 | Common | SOLE |
| 527064208 | LESL | LESLIES INC | $39,288 | 0.02% | 23,811 | Common | 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.