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LB Partners Portfolio holdings

AUM $147M
1-Year Est. Return 29.28%
This Fund
S&P 500
This Quarter Est. Return
+0.13%
1 Year Est. Return
+29.28%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$108M
AUM Growth
-$47.4M
Cap. Flow
-$41.5M
Cap. Flow %
-38.29%
Top 10 Hldgs %
84.51%
Holding
29
New
–
Increased
6
Reduced
3
Closed
4

Top Buys

Rank Stock Value
1
SPT icon
Sprout Social
SPT
+$4.62M
2
GTLB icon
GitLab
GTLB
+$3.47M
3
RELY icon
Remitly
RELY
+$3.39M
4
NIQ
NIQ Global Intelligence PLC
NIQ
+$732K
5
LPRO
Open Lending Corp
LPRO
+$355K

Top Sells

Rank Stock Value
1
GOGO icon
Gogo Inc
GOGO
+$22.6M
2
WOW
WideOpenWest
WOW
+$20M
3
LQDA icon
Liquidia Corp
LQDA
+$4.55M
4
TIGO icon
Millicom
TIGO
+$4.03M
5
DBRG icon
DigitalBridge
DBRG
+$2.46M

Sector Composition

Rank Sector Weight
1 Financials 40.05%
2 Technology 32.98%
3 Communication Services 22.4%
4 Consumer Discretionary 1.7%
5 Real Estate 1.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RELY icon
1
Remitly
RELY
$4.79B
$17.2M 15.91%
1,248,888
+233,304
+23% +$3.39M
COF icon
2
Capital One
COF
$128B
$15.5M 14.33%
64,056
– –
TIGO icon
3
Millicom
TIGO
$16B
$12.9M 11.87%
232,000
-80,000
-26% -$4.03M
AXP icon
4
American Express
AXP
$227B
$11.8M 10.93%
32,000
– –
LPRO
5
Open Lending Corp
LPRO
$8.14M 7.51%
5,250,841
+200,000
+4% +$355K
SPT icon
6
Sprout Social
SPT
$516M
$6.96M 6.42%
617,477
+427,477
+225% +$4.62M
GOOGL icon
7
Alphabet (Google) Class A
GOOGL
$4.36T
$5.95M 5.49%
19,000
– –
OPFI icon
8
OppFi
OPFI
$800M
$5.23M 4.83%
500,000
– –
NIQ
9
NIQ Global Intelligence PLC
NIQ
$3.3B
$4.04M 3.72%
244,700
+50,000
+26% +$732K
GTLB icon
10
GitLab
GTLB
$5.83B
$3.79M 3.5%
101,077
+80,145
+383% +$3.47M
GOOG icon
11
Alphabet (Google) Class C
GOOG
$4.36T
$2.51M 2.32%
8,000
– –
IMXI icon
12
International Money Express
IMXI
$357M
$2.2M 2.03%
143,000
– –
KKR icon
13
KKR & Co
KKR
$91.1B
$2.18M 2.01%
17,100
– –
LBRDK icon
14
Liberty Broadband Class C
LBRDK
$4.88B
$1.85M 1.71%
38,075
– –
AMZN icon
15
Amazon
AMZN
$2.92T
$1.85M 1.7%
8,000
– –
FRPH icon
16
FRP Holdings
FRPH
$428M
$1.75M 1.61%
76,682
-2,900
-4% -$68.5K
THRY icon
17
Thryv Holdings
THRY
$180M
$1.51M 1.39%
249,705
– –
GOGO icon
18
Gogo Inc
GOGO
$565M
$699K 0.65%
150,000
-3,078,979
-95% -$22.6M
TFPM icon
19
Triple Flag Precious Metals
TFPM
$5.94B
$495K 0.46%
14,913
– –
SGOL icon
20
abrdn Physical Gold Shares ETF
SGOL
$6.91B
$452K 0.42%
11,000
– –
GLIBK
21
Liberty Capital Corp Series C GCI Group Common Stock
GLIBK
$925M
$402K 0.37%
10,815
+3,200
+42% +$112K
SPGI icon
22
S&P Global
SPGI
$121B
$392K 0.36%
750
– –
MTA
23
Metalla Royalty & Streaming
MTA
$688M
$280K 0.26%
36,000
– –
BSM icon
24
Black Stone Minerals
BSM
$3.18B
$133K 0.12%
10,000
– –
WU icon
25
Western Union
WU
$1.99B
$93.1K 0.09%
10,000
– –
1
2

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TCCP
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G
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PIP
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KFS
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PWAM
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SF
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LB Partners's Q4 2025 Portfolio in Review

As of Q4 2025, LB Partners held 29 positions worth $108M, down 30% from $156M the previous quarter. Its ten largest holdings account for 85% of the portfolio.

LB Partners withdrew a net $41.5M in Q4 2025, closing 4 positions and reducing 3 holdings. Its most notable exit was WideOpenWest, an estimated $20M position sold in full.

By sector, the portfolio is most concentrated in Financials at 40% of assets, up from 29% a quarter earlier, followed by Technology and Communication Services.

Against the trend, LB Partners added an estimated $4.62M to Sprout Social.

  • LB Partners added most to Sprout Social in Q4 2025, an estimated $4.62M increase.
  • LB Partners's biggest Q4 2025 reduction was Gogo Inc, cutting an estimated $22.6M.
  • LB Partners fully exited WideOpenWest in Q4 2025, selling an estimated $20M.
  • LB Partners's ten largest holdings make up 85% of its $108M portfolio in Q4 2025.
  • LB Partners opened 0 new positions and closed 4 in Q4 2025.
  • LB Partners's portfolio value fell 30% quarter-over-quarter to $108M.

Based on LB Partners's 13F filing for Q4 2025, filed 17 Feb 2026.