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Spark Investment Management Portfolio holdings

AUM $41.6M
1-Year Est. Return 80.97%
This Fund
S&P 500
This Quarter Est. Return
+6.39%
1 Year Est. Return
+80.97%
3 Year Est. Return
+336.74%
5 Year Est. Return
+318.26%
10 Year Est. Return
+1,447.76%
AUM
$40.2M
AUM Growth
+$350K
Cap. Flow
-$1.89M
Cap. Flow %
-4.7%
Top 10 Hldgs %
78.2%
Holding
30
New
10
Increased
3
Reduced
4
Closed
3

Top Buys

Rank Stock Value
1
VET icon
Vermilion Energy
VET
+$2.29M
2
NGD
New Gold Inc
NGD
+$2.1M
3
DOO
Bombardier Recreational Products
DOO
+$1.29M
4
EFXT
Enerflex
EFXT
+$798K
5
OBE
Obsidian Energy
OBE
+$587K

Top Sells

Rank Stock Value
1
CLS icon
Celestica
CLS
+$5.42M
2
TFPM icon
Triple Flag Precious Metals
TFPM
+$1.56M
3
SAND
Sandstorm Gold
SAND
+$1.39M
4
CCJ icon
Cameco
CCJ
+$839K
5
ASM
Avino Silver & Gold Mines
ASM
+$718K

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 35.92%
2 Technology 23.07%
3 Materials 18.6%
4 Energy 10.24%
5 Communication Services 10.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LGO
26
Largo
LGO
$70.9M
$10.5K 0.03%
+11,000
New +$13.1K
ASM
27
Avino Silver & Gold Mines
ASM
$1.2B
– –
-137,000
Closed -$718K
CCJ icon
28
Cameco
CCJ
$42.4B
– –
-10,000
Closed -$839K
SAND
29
DELISTED
Sandstorm Gold
SAND
– –
-111,000
Closed -$1.39M
SVA
30
DELISTED
Sinovac Biotech, Ltd
SVA
$0 ﹤0.01%
29,100
– –
1
2

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TA
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BCM
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SCM
Stadium Capital Management New Canaan, Connecticut $40.6M AUM 5.83% 1-Year Est. Return
VEPM
Vista Equity Partners Management San Francisco, California $42.7M AUM 16.65% 1-Year Est. Return
VAM
Vazirani Asset Management New York $43.4M AUM 84.05% 1-Year Est. Return
ICP
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8GI
8VC GP I Austin, Texas $39.6M AUM 36.39% 1-Year Est. Return

Spark Investment Management's Q4 2025 Portfolio in Review

As of Q4 2025, Spark Investment Management held 30 positions worth $40.2M, up 0.88% from $39.8M the previous quarter. Its ten largest holdings account for 78% of the portfolio.

Spark Investment Management withdrew a net $1.89M in Q4 2025, closing 3 positions and reducing 4 holdings. Its most notable exit was Sandstorm Gold, an estimated $1.39M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 36% of assets, up from 31% a quarter earlier, followed by Technology and Materials.

Against the trend, Spark Investment Management opened a new position in Vermilion Energy worth $2.3M.

  • Spark Investment Management's largest Q4 2025 buy was Vermilion Energy: 277,000 shares worth $2.3M.
  • Spark Investment Management added most to Open Text in Q4 2025, an estimated $499K increase.
  • Spark Investment Management's biggest Q4 2025 reduction was Celestica, cutting an estimated $5.42M.
  • Spark Investment Management fully exited Sandstorm Gold in Q4 2025, selling an estimated $1.39M.
  • Spark Investment Management's ten largest holdings make up 78% of its $40.2M portfolio in Q4 2025.
  • Spark Investment Management opened 10 new positions and closed 3 in Q4 2025.
  • Spark Investment Management's portfolio value rose 0.88% quarter-over-quarter to $40.2M.

Based on Spark Investment Management's 13F filing for Q4 2025, filed 11 Feb 2026.