2025 Q4 Portfolio Activity
In 2025 Q4, Sandia Investment Management LP maintained a portfolio of 150 distinct positions. The most significant new addition was STURM RUGER & CO INC, now representing 2.16% of the total fund value. They heavily accumulated shares in HAYMAKER ACQUISITION CORP IV, increasing the position by 75.0%. The fund also reduced its exposure to FACT II ACQUISITION CORP by 80.0%.
Position History
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Total Positions
150
Quarter
2025 Q4
Top Holding
HYAC (9.9%)
Top 10 Concentration
29.3%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 150
Sandia Investment Management LP Full Holdings List — 2025 Q4
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
HYAC
HAYMAKER ACQUIS...
|
Financial Services | 9.93% | 6.76% |
#1
Prev: #1
|
9.0 |
—
|
149,987 | 75.0% |
P
S
|
349,987 | $3,982,852 | 2024 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BEAG
BOLD EAGLE ACQU...
|
Financial Services | 3.10% | 5.61% |
#2
Prev: #2
|
2.7 |
—
|
-63,208 | -34.9% |
P
S
|
117,662 | $1,244,864 | 2024 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
RGS
REGIS CORPORATI...
|
Consumer Cyclical | 2.28% | 2.86% |
#3
2
Prev: #5
|
2.9 |
—
|
no change | no change |
P
S
|
32,936 | $913,974 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
RGR
STURM RUGER & C...
|
Industrials | 2.16% | — |
#4
Prev: #—
|
4.9 |
—
|
26,485 | — |
NEW
|
26,485 | $864,735 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LGN
LEGENCE CORP
|
Industrials | 2.13% | 0.92% |
#5
30
Prev: #35
|
4.4 |
—
|
9,850 | 98.5% |
P
S
|
19,850 | $854,344 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MDLN
MEDLINE INC
|
Healthcare | 2.09% | — |
#6
Prev: #—
|
4.3 |
—
|
20,000 | — |
NEW
|
20,000 | $840,000 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ALH
ALLIANCE LAUNDR...
|
Consumer Cyclical | 2.01% | — |
#7
Prev: #—
|
4.3 |
—
|
39,522 | — |
NEW
|
39,522 | $804,273 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
WB
WATERBRIDGE INF...
|
Communication Services | 2.00% | 1.88% |
#8
1
Prev: #9
|
3.8 |
—
|
15,000 | 60.0% |
P
S
|
40,000 | $800,400 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
SILICON VY ACQU...
|
|
Unknown | 1.86% | — |
#9
Prev: #—
|
4.2 |
—
|
75,000 | — |
NEW
|
75,000 | $745,875 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
NTSK
NETSKOPE INC
|
Technology | 1.75% | 0.68% |
#10
46
Prev: #56
|
3.7 |
—
|
30,000 | 300.0% |
P
S
|
40,000 | $701,600 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CAI
CARIS LIFE SCIE...
|
Healthcare | 1.59% | 0.78% |
#11
35
Prev: #46
|
3.6 |
—
|
15,000 | 174.4% |
P
S
|
23,600 | $636,728 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
GORES HLDGS X I...
|
|
Unknown | 1.58% | 1.53% |
#12
8
Prev: #20
|
3.1 |
—
|
11,506 | 23.0% |
P
S
|
61,632 | $631,728 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
STONEBRIDGE ACQ...
|
|
Unknown | 1.50% | 1.78% |
#13
2
Prev: #11
|
1.6 |
—
|
no change | no change |
P
S
|
60,000 | $602,400 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
MIAX
MIAMI INTL HLDG...
|
Financial Services | 1.44% | 0.79% |
#14
29
Prev: #43
|
3.6 |
—
|
6,400 | 97.0% |
P
S
|
13,000 | $576,940 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
DRDB
ROMAN DBDR ACQU...
|
Financial Services | 1.30% | 1.54% |
#15
4
Prev: #19
|
1.0 |
—
|
-62 | -0.1% |
P
S
|
50,038 | $521,896 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ULS
UL SOLUTIONS IN...
|
Industrials | 1.29% | — |
#16
Prev: #—
|
4.0 |
—
|
6,535 | — |
NEW
|
6,535 | $515,350 | 2024 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LOKV
LIVE OAK ACQUIS...
|
Financial Services | 1.28% | 3.04% |
#17
13
Prev: #4
|
0.5 |
—
|
-50,000 | -50.0% |
P
S
|
50,000 | $515,000 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
CANTOR EQUITY P...
|
|
Unknown | 1.28% | — |
#18
Prev: #—
|
4.0 |
—
|
50,000 | — |
NEW
|
50,000 | $512,500 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
AI INFRASTRUCTU...
|
|
Unknown | 1.27% | — |
#19
Prev: #—
|
4.0 |
—
|
50,000 | — |
NEW
|
50,000 | $509,000 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
M3-BRIGADE ACQU...
|
|
Unknown | 1.26% | 1.51% |
#20
2
Prev: #22
|
1.5 |
—
|
no change | no change |
P
S
|
50,000 | $506,250 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
VINE HILL CAP I...
|
|
Unknown | 1.25% | — |
#21
Prev: #—
|
4.0 |
—
|
50,000 | — |
NEW
|
50,000 | $501,050 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
HALL CHADWICK A...
|
|
Unknown | 1.25% | — |
#22
Prev: #—
|
4.0 |
—
|
50,000 | — |
NEW
|
50,000 | $501,000 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
BLUEROCK ACQUIS...
|
|
Unknown | 1.25% | — |
#23
Prev: #—
|
4.0 |
—
|
50,000 | — |
NEW
|
50,000 | $500,000 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
ITHAX ACQUISITI...
|
|
Unknown | 1.24% | — |
#24
Prev: #—
|
4.0 |
—
|
50,000 | — |
NEW
|
50,000 | $498,750 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
BITCOIN INFRAST...
|
|
Unknown | 1.24% | — |
#25
Prev: #—
|
4.0 |
—
|
50,000 | — |
NEW
|
50,000 | $498,000 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
TGE VALUE CREAT...
|
|
Unknown | 1.24% | — |
#26
Prev: #—
|
4.0 |
—
|
50,000 | — |
NEW
|
50,000 | $497,000 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
VIA
VIA TRANSN INC
|
Technology | 1.23% | 2.44% |
#27
19
Prev: #8
|
1.0 |
—
|
48 | 0.3% |
P
S
|
17,048 | $494,562 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
INVEST GREEN AC...
|
|
Unknown | 1.18% | — |
#28
Prev: #—
|
4.0 |
—
|
47,000 | — |
NEW
|
47,000 | $471,410 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
HTFL
HEARTFLOW INC
|
Healthcare | 1.16% | 0.75% |
#29
20
Prev: #49
|
3.5 |
—
|
8,417 | 112.2% |
P
S
|
15,917 | $463,981 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
AA MISSION ACQU...
|
|
Unknown | 1.12% | — |
#30
Prev: #—
|
3.9 |
—
|
44,700 | — |
NEW
|
44,700 | $450,800 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
BRCB
BLACK ROCK COFF...
|
Consumer Cyclical | 1.11% | 1.07% |
#31
1
Prev: #30
|
2.9 |
—
|
5,000 | 33.3% |
P
S
|
20,000 | $445,000 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ATEX
ANTERIX INC
|
Communication Services | 1.09% | 1.75% |
#32
19
Prev: #13
|
0.4 |
—
|
-7,340 | -26.8% |
P
S
|
20,000 | $436,600 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
SILVERBOX CORP ...
|
|
Unknown | 1.08% | — |
#33
Prev: #—
|
3.9 |
—
|
43,150 | — |
NEW
|
43,150 | $434,089 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
ITT
ITT INC
|
Industrials | 1.08% | — |
#34
Prev: #—
|
3.9 |
—
|
2,500 | — |
NEW
|
2,500 | $433,775 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SARO
STANDARDAERO IN...
|
Industrials | 1.07% | 1.63% |
#35
19
Prev: #16
|
0.4 |
—
|
-5,000 | -25.0% |
P
S
|
15,000 | $430,200 | 2024 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SNDA
SONIDA SENIOR L...
|
Healthcare | 1.03% | 1.04% |
#36
4
Prev: #32
|
1.4 |
—
|
no change | no change |
P
S
|
12,612 | $411,277 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
FIGR
FIGURE TECHNOLO...
|
Financial Services | 1.02% | 0.92% |
#37
3
Prev: #34
|
2.4 |
—
|
1,500 | 17.6% |
P
S
|
10,000 | $408,400 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
RVMD
REVOLUTION MEDI...
|
Healthcare | 0.99% | 0.70% |
#38
16
Prev: #54
|
1.4 |
—
|
no change | no change |
P
S
|
5,000 | $398,250 | 2024 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CRCL
CIRCLE INTERNET...
|
Financial Services | 0.99% | 0.59% |
#39
25
Prev: #64
|
3.4 |
—
|
3,500 | 233.3% |
P
S
|
5,000 | $396,500 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CTRI
CENTURI HOLDING...
|
Utilities | 0.94% | 0.85% |
#40
1
Prev: #41
|
2.4 |
—
|
1,600 | 11.9% |
P
S
|
15,000 | $378,750 | 2024 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
BULLISH
|
|
Unknown | 0.94% | 0.04% |
#41
56
Prev: #97
|
3.4 |
—
|
9,800 | 4900.0% |
P
S
|
10,000 | $378,700 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
BTSG
BRIGHTSPRING HE...
|
Healthcare | 0.93% | — |
#42
Prev: #—
|
3.9 |
—
|
10,000 | — |
NEW
|
10,000 | $374,500 | 2024 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
KGS
KODIAK GAS SVCS...
|
Energy | 0.93% | 1.65% |
#43
28
Prev: #15
|
0.4 |
—
|
-5,000 | -33.3% |
P
S
|
10,000 | $374,000 | 2023 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
KLARNA GROUP PL...
|
|
Unknown | 0.89% | 1.20% |
#44
18
Prev: #26
|
2.4 |
—
|
1,404 | 12.8% |
P
S
|
12,404 | $358,600 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
VIKING ACQUISIT...
|
|
Unknown | 0.88% | — |
#45
Prev: #—
|
3.9 |
—
|
35,000 | — |
NEW
|
35,000 | $352,450 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
ALDF
ALDEL FINL II I...
|
Financial Services | 0.78% | 1.17% |
#46
18
Prev: #28
|
0.3 |
—
|
-7,500 | -20.0% |
P
S
|
30,000 | $314,700 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CHYM
CHIME FINL INC
|
Technology | 0.78% | 0.90% |
#47
9
Prev: #38
|
0.8 |
—
|
-2,500 | -16.7% |
P
S
|
12,500 | $314,625 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
NEPT
NEPTUNE INS HLD...
|
Unknown | 0.76% | — |
#48
Prev: #—
|
3.8 |
—
|
10,500 | — |
NEW
|
10,500 | $306,180 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CRBG
COREBRIDGE FINL...
|
Financial Services | 0.75% | 0.48% |
#49
26
Prev: #75
|
3.3 |
—
|
5,000 | 100.0% |
P
S
|
10,000 | $301,700 | 2022 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PACS
PACS GROUP INC
|
Healthcare | 0.72% | 0.51% |
#50
21
Prev: #71
|
0.3 |
—
|
-5,000 | -40.0% |
P
S
|
7,500 | $287,925 | 2024 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) |
Showing 1-50 of 150 holdings