Q4 2025 · 13F-HR
Whitebark Investors LPholdings as filed
Filed 2026-02-17 · accession 0001172661-26-000873
$166.0M
Reported value
9
Positions
2025-12-31
Period end
The Brief · Whitebark Investors LP · Q4 2025
AI · grounded in 13F
Whitebark Investors LP closed its position in Telephone & Data Sys Inc TDS, reducing exposure by $28.6M. The fund also exited its holding in Thermo Fisher Scientific Inc TMO for $7.7M and trimmed shares of Microsoft Corp MSFT by 23.1%. On the buy side, the fund established a new position in Shenandoah Telecommunication SHEN worth $4.9M and increased its stake in Klarna Group PLC by 345.6%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| G3643J108 | FLUT | FLUTTER ENTMT PLC | $29.0M | 17.5% | 134,766 | Common | NONE |
| 22266T109 | CPNG | COUPANG INC | $24.8M | 14.9% | 1,050,996 | Common | NONE |
| 594918104 | MSFT | MICROSOFT CORP | $24.6M | 14.8% | 50,859 | Common | NONE |
| M5216V106 | GLBE | GLOBAL E ONLINE LTD | $23.4M | 14.1% | 595,432 | Common | NONE |
| 38267D109 | GSHD | GOOSEHEAD INS INC | $19.8M | 11.9% | 269,322 | Common | NONE |
| 39874R101 | GO | GROCERY OUTLET HLDG CORP | $16.4M | 9.85% | 1,619,274 | Common | NONE |
| 09352U108 | BLND | BLEND LABS INC | $15.4M | 9.28% | 5,069,258 | Common | NONE |
| G5279N105 | KLAR | KLARNA GROUP PLC | $7.7M | 4.66% | 267,378 | Common | NONE |
| 82312B106 | SHEN | SHENANDOAH TELECOMMUNICATION | $4.9M | 2.95% | 423,063 | Common | NONE |
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.