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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
NHICW
101
NewHold Investment Corp III Warrants
NHICW
$18.8M
$4.5K 0.01%
12,500
– –
POLEW
102
Andretti Acquisition Corp II Warrant
POLEW
$4K 0.01%
20,000
– –
MACIW
103
Melar Acquisition Corp I Warrant
MACIW
$3.91K 0.01%
+25,000
New +$5.25K
BAERW icon
104
Bridger Aerospace Warrant
BAERW
$11.2M
$1.36K ﹤0.01%
17,690
– –
ABLLW
105
DELISTED
Abacus Life Warrant
ABLLW
– –
-109,665
Closed -$123K
BRO icon
106
Brown & Brown
BRO
$23.9B
– –
-5,000
Closed -$554K
CHWY icon
107
Chewy
CHWY
$9.2B
– –
-5,000
Closed -$213K
ETNB
108
DELISTED
89bio
ETNB
– –
-17,500
Closed -$172K
ETR icon
109
Entergy
ETR
$49.7B
– –
-10,000
Closed -$831K
ITOS
110
DELISTED
iTeos Therapeutics
ITOS
– –
-24,865
Closed -$248K
MRUS
111
DELISTED
Merus
MRUS
– –
-10,000
Closed -$526K
NDAQ icon
112
Nasdaq
NDAQ
$53.1B
– –
-5,000
Closed -$447K
ONL
113
Orion Office REIT
ONL
$158M
– –
-25,093
Closed -$53.4K
RDW icon
114
Redwire
RDW
$3.38B
– –
-10,000
Closed -$163K
SPWR icon
115
SunPower Inc
SPWR
$48.1M
– –
-49,484
Closed -$91.1K
SRAD icon
116
Sportradar
SRAD
$3.93B
– –
-10,000
Closed -$281K
SVIIW
117
DELISTED
Spring Valley Acquisition Corp II Warrant
SVIIW
– –
-30,362
Closed -$4.25K
SVV icon
118
Savers
SVV
$1.81B
– –
-5,000
Closed -$51K
BTSG icon
119
BrightSpring Health Services
BTSG
$11.5B
– –
-5,000
Closed -$118K
AS icon
120
Amer Sports
AS
$19.7B
– –
-10,000
Closed -$388K
TBBB icon
121
BBB Foods
TBBB
$5B
– –
-10,000
Closed -$278K
MRX
122
Marex Group Limited Ordinary Shares
MRX
$4.31B
– –
-5,000
Closed -$197K
VIK icon
123
Viking Holdings
VIK
$45.3B
– –
-5,000
Closed -$266K
MACIU
124
Melar Acquisition Corp I Unit
MACIU
– –
-50,000
Closed -$525K
CCIXW
125
DELISTED
Churchill Capital Corp IX Warrant
CCIXW
– –
-10,000
Closed -$9.5K
2 3 4
5
6

Similar funds

2C
272 Capital Dallas, Texas $40M AUM 150.07% 1-Year Est. Return
ISSM
Invesco Senior Secured Management New York $40.9M AUM 3.88% 1-Year Est. Return
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.