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Sandia Investment Management Portfolio holdings

AUM $40.1M
1-Year Est. Return 13.88%
This Fund
S&P 500
This Quarter Est. Return
+4.18%
1 Year Est. Return
+13.88%
3 Year Est. Return
+19.79%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$33.6M
AUM Growth
-$5.42M
Cap. Flow
-$5.04M
Cap. Flow %
-15.01%
Top 10 Hldgs %
33.77%
Holding
143
New
41
Increased
5
Reduced
26
Closed
37

Top Buys

Rank Stock Value
1
MRLN
Merlin Inc
MRLN
+$906K
2
VIA
Via Transportation Inc
VIA
+$841K
3
ATEX icon
Anterix
ATEX
+$613K
4
APACU
StoneBridge Acquisition II Corp Units
APACU
+$598K
5
WBI
WaterBridge Infrastructure LLC
WBI
+$586K

Top Sells

Rank Stock Value
1
HYAC
Haymaker Acquisition Corp 4
HYAC
+$1.35M
2
DYNC
Dynamix Corp
DYNC
+$1.3M
3
ETR icon
Entergy
ETR
+$831K
4
WLAC
Willow Lane Acquisition Corp
WLAC
+$767K
5
HNGE
Hinge Health
HNGE
+$657K

Sector Composition

Rank Sector Weight
1 Financials 36.52%
2 Technology 10.77%
3 Healthcare 9.92%
4 Industrials 9.04%
5 Consumer Discretionary 6.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KLAR
26
Klarna Group
KLAR
$7.25B
$403K 1.2%
+11,000
New +$471K
SRG
27
Seritage Growth Properties
SRG
$136M
$399K 1.19%
93,887
– –
ALDF
28
Aldel Financial II Inc
ALDF
$322M
$392K 1.17%
37,500
-62,500
-63% -$652K
KRMN
29
Karman Holdings
KRMN
$8.11B
$361K 1.08%
5,000
– –
BRCB
30
Black Rock Coffee Bar Inc
BRCB
$150M
$358K 1.07%
+15,000
New +$392K
NIQ
31
NIQ Global Intelligence PLC
NIQ
$4.77B
$353K 1.05%
+22,500
New +$392K
SNDA icon
32
Sonida Senior Living
SNDA
$1.87B
$350K 1.04%
12,612
– –
OMDA
33
Omada Health Inc
OMDA
$1.46B
$332K 0.99%
15,000
-5,000
-25% -$102K
FIGR
34
Figure Technology Solutions
FIGR
$6.16B
$309K 0.92%
+8,500
New +$330K
LGN
35
Legence Corp
LGN
$5.03B
$308K 0.92%
+10,000
New +$315K
SEG
36
Seaport Entertainment Group
SEG
$373M
$305K 0.91%
13,311
– –
LAKE icon
37
Lakeland Industries
LAKE
$121M
$305K 0.91%
20,580
+9,730
+90% +$142K
CHYM
38
Chime Financial
CHYM
$12.1B
$303K 0.9%
15,000
-12,500
-45% -$355K
ASIC
39
Ategrity Specialty Insurance
ASIC
$1.21B
$302K 0.9%
15,300
+10,000
+189% +$210K
PRTA icon
40
Prothena Corp
PRTA
$468M
$292K 0.87%
+29,950
New +$230K
CTRI icon
41
Centuri Holdings
CTRI
$2.47B
$284K 0.85%
13,400
-6,600
-33% -$140K
KVYO icon
42
Klaviyo
KVYO
$5.18B
$277K 0.83%
10,000
-5,000
-33% -$161K
MIAX
43
Miami International Holdings
MIAX
$4.24B
$266K 0.79%
+6,600
New +$241K
POLE
44
Andretti Acquisition Corp II
POLE
$319M
$262K 0.78%
25,000
-15,000
-38% -$156K
JENA.U
45
Jena Acquisition Corp II Units
JENA.U
$260K 0.78%
+25,000
New +$258K
CAI
46
Caris Life Sciences
CAI
$6.6B
$260K 0.78%
8,600
-1,400
-14% -$44.6K
NHIC
47
NewHold Investment Corp III
NHIC
$294M
$255K 0.76%
25,000
– –
PAII.U
48
Pyrophyte Acquisition Corp II Units
PAII.U
$253K 0.75%
+25,000
New +$252K
HTFL
49
Heartflow Inc
HTFL
$2.57B
$252K 0.75%
+7,500
New +$241K
SOCAU
50
Solarius Capital Acquisition Corp Units
SOCAU
$252K 0.75%
+25,000
New +$252K
1
2
3 4 5

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2C
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ISSM
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SPA
Sherbrooke Park Advisers White Plains, New York $38.7M AUM 5.29% 1-Year Est. Return
KCM
Kawa Capital Management Hallandale Beach, Florida $43.2M AUM 13.52% 1-Year Est. Return
EFI
EHP Funds Inc Toronto, Canada $43.6M AUM 69.08% 1-Year Est. Return
ICM
Indaba Capital Management San Francisco, California $33.8M AUM 33.83% 1-Year Est. Return
PP
Prospector Partners Guilford, Connecticut $46.7M AUM 11.1% 1-Year Est. Return
TWP
Total Wealth Planning Cincinnati, Ohio $46.7M AUM 13.43% 1-Year Est. Return

Sandia Investment Management's Q3 2025 Portfolio in Review

As of Q3 2025, Sandia Investment Management held 143 positions worth $33.6M, down 14% from $39M the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Sandia Investment Management withdrew a net $5.04M in Q3 2025, closing 37 positions and reducing 26 holdings. Its most notable exit was Dynamix Corp, an estimated $1.3M position sold in full.

By sector, the portfolio is most concentrated in Financials at 37% of assets, down from 45% a quarter earlier, followed by Technology and Healthcare.

Against the trend, Sandia Investment Management opened a new position in Merlin Inc worth $910K.

  • Sandia Investment Management's largest Q3 2025 buy was Merlin Inc: 87,500 shares worth $910K.
  • Sandia Investment Management added most to Ategrity Specialty Insurance in Q3 2025, an estimated $210K increase.
  • Sandia Investment Management's biggest Q3 2025 reduction was Haymaker Acquisition Corp 4, cutting an estimated $1.35M.
  • Sandia Investment Management fully exited Dynamix Corp in Q3 2025, selling an estimated $1.3M.
  • Sandia Investment Management's ten largest holdings make up 34% of its $33.6M portfolio in Q3 2025.
  • Sandia Investment Management opened 41 new positions and closed 37 in Q3 2025.
  • Sandia Investment Management's portfolio value fell 14% quarter-over-quarter to $33.6M.

Based on Sandia Investment Management's 13F filing for Q3 2025, filed 14 Nov 2025.