# Militia Capital Partners, LP

> Institutional holdings reported to the SEC as of Q4 2025 on Form 13F. CIK 1837496. Source: https://holderbook.com/funds/1837496-militia-capital-partners-lp/

- Reported value: $698.6M
- Positions: 215
- Weight of the ten largest: 32.1%
- Filed: 2026-02-17

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| AFFIRM HLDGS INC | [AFRM](https://holderbook.com/stocks/AFRM/) | $48.3M | 87,886 | 6.9% | 2 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $31.6M | 0 | 4.5% | 5 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $19.8M | 1,200,000 | 2.8% | 5 |
| COINBASE GLOBAL INC | [COIN](https://holderbook.com/stocks/COIN/) | $19.7M | 0 | 2.8% | 3 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $19.5M | 84,432 | 2.8% | 5 |
| GRUPO AEROPORTUARIO DEL CENT | [OMAB](https://holderbook.com/stocks/OMAB/) | $18.1M | 166,092 | 2.6% | 5 |
| AXOS FINANCIAL INC | [AX](https://holderbook.com/stocks/AX/) | $17.2M | 200,000 | 2.5% | 5 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $17.1M | 0 | 2.4% | 5 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $17.1M | 48,696 | 2.4% | 5 |
| WESTERN MIDSTREAM PARTNERS L | [WES](https://holderbook.com/stocks/WES/) | $15.8M | 400,000 | 2.3% | 4 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $15.4M | 49,000 | 2.2% | 1 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $14.8M | 0 | 2.1% | 1 |
| KLARNA GROUP PLC | [KLAR](https://holderbook.com/stocks/KLAR/) | $14.8M | 176,228 | 2.1% | 1 |
| EA SERIES TRUST | [ORR](https://holderbook.com/stocks/ORR/) | $11.0M | 322,000 | 1.6% | 4 |
| INTERACTIVE BROKERS GROUP IN | [IBKR](https://holderbook.com/stocks/IBKR/) | $9.1M | 142,000 | 1.3% | 5 |
| CORPORACION AMER ARPTS S A | [CAAP](https://holderbook.com/stocks/CAAP/) | $8.4M | 322,000 | 1.2% | 5 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $7.3M | 0 | 1.0% | 4 |
| MPLX LP | [MPLX](https://holderbook.com/stocks/MPLX/) | $7.2M | 134,000 | 1.0% | 4 |
| GRAVITY CO LTD | [GRVY](https://holderbook.com/stocks/GRVY/) | $6.8M | 117,474 | 1.0% | 5 |
| FIDELITY WISE ORIGIN BITCOIN | [FBTC](https://holderbook.com/stocks/FBTC/) | $6.4M | 84,600 | 0.9% | 3 |
| BANCO MACRO SA | [BMA](https://holderbook.com/stocks/BMA/) | $6.0M | 66,800 | 0.9% | 2 |
| PARKE BANCORP INC | [PKBK](https://holderbook.com/stocks/PKBK/) | $6.0M | 240,000 | 0.9% | 5 |
| TEVA PHARMACEUTICAL INDS LTD | [TEVA](https://holderbook.com/stocks/TEVA/) | $5.7M | 184,000 | 0.8% | 2 |
| DIREXION SHARES ETF TRUST | [QQQE](https://holderbook.com/stocks/QQQE/) | $5.7M | 55,600 | 0.8% | 1 |
| FEDERAL AGRIC MTG CORP | [AGM](https://holderbook.com/stocks/AGM/) | $5.6M | 32,000 | 0.8% | 5 |
| SEA LTD | [SE](https://holderbook.com/stocks/SE/) | $5.5M | 42,800 | 0.8% | 1 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $5.4M | 28,000 | 0.8% | 5 |
| ISHARES BITCOIN TRUST ETF | [IBIT](https://holderbook.com/stocks/IBIT/) | $5.4M | 109,180 | 0.8% | 5 |
| BROOKDALE SR LIVING INC | [BKD](https://holderbook.com/stocks/BKD/) | $5.2M | 480,000 | 0.7% | 5 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $4.9M | 4,580 | 0.7% | 3 |
| FIGURE TECHNOLOGY SOLUTIO | [FIGR](https://holderbook.com/stocks/FIGR/) | $4.9M | 120,000 | 0.7% | 1 |
| EVOLV TECHNOLOGIES HLDNGS IN | [EVLV](https://holderbook.com/stocks/EVLV/) | $4.9M | 680,000 | 0.7% | 5 |
| TURNING PT BRANDS INC | [TPB](https://holderbook.com/stocks/TPB/) | $4.8M | 44,000 | 0.7% | 5 |
| MEDPACE HLDGS INC | [MEDP](https://holderbook.com/stocks/MEDP/) | $4.7M | 8,400 | 0.7% | 5 |
| HARROW INC | [HROW](https://holderbook.com/stocks/HROW/) | $4.6M | 94,000 | 0.7% | 1 |
| AMERICAN COASTAL INS CORP | [ACIC](https://holderbook.com/stocks/ACIC/) | $4.6M | 361,316 | 0.7% | 5 |
| FUBOTV INC | [FUBO](https://holderbook.com/stocks/FUBO/) | $4.5M | 0 | 0.6% | 5 |
| COASTAL FINL CORP WA | [CCB](https://holderbook.com/stocks/CCB/) | $4.4M | 38,000 | 0.6% | 5 |
| ROBINHOOD MKTS INC | [HOOD](https://holderbook.com/stocks/HOOD/) | $4.2M | 37,356 | 0.6% | 5 |
| MILLICOM INTL CELLULAR S A | [TIGO](https://holderbook.com/stocks/TIGO/) | $4.2M | 76,000 | 0.6% | 4 |
| OMEGA HEALTHCARE INVS INC | [OHI](https://holderbook.com/stocks/OHI/) | $3.9M | 88,800 | 0.6% | 2 |
| MOLINA HEALTHCARE INC | [MOH](https://holderbook.com/stocks/MOH/) | $3.8M | 22,000 | 0.5% | 1 |
| VENTAS INC | [VTR](https://holderbook.com/stocks/VTR/) | $3.8M | 49,300 | 0.5% | 5 |
| ISHARES TR | [IBB](https://holderbook.com/stocks/IBB/) | $3.6M | 21,600 | 0.5% | 3 |
| HYPERLIQUID STRATEGIES INC | [PURR](https://holderbook.com/stocks/PURR/) | $3.6M | 1,002,400 | 0.5% | 1 |
| REGENERON PHARMACEUTICALS | [REGN](https://holderbook.com/stocks/REGN/) | $3.6M | 4,600 | 0.5% | 1 |
| UNITY SOFTWARE INC | [U](https://holderbook.com/stocks/U/) | $3.5M | 80,000 | 0.5% | 1 |
| WILLDAN GROUP INC | [WLDN](https://holderbook.com/stocks/WLDN/) | $3.5M | 34,000 | 0.5% | 4 |
| SAVERS VALUE VLG INC | [SVV](https://holderbook.com/stocks/SVV/) | $3.5M | 375,170 | 0.5% | 2 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $3.4M | 14,900 | 0.5% | 2 |
| UNIVERSAL TECHNICAL INST INC | [UTI](https://holderbook.com/stocks/UTI/) | $3.4M | 129,880 | 0.5% | 5 |
| GOLAR LNG LTD | [GLNG](https://holderbook.com/stocks/GLNG/) | $3.3M | 90,000 | 0.5% | 2 |
| BLEND LABS INC | [BLND](https://holderbook.com/stocks/BLND/) | $3.3M | 1,100,000 | 0.5% | 1 |
| JD.COM INC | [JD](https://holderbook.com/stocks/JD/) | $3.3M | 115,000 | 0.5% | 4 |
| CELLEBRITE DI LTD | [CLBT](https://holderbook.com/stocks/CLBT/) | $3.2M | 180,000 | 0.5% | 5 |
| SOLENO THERAPEUTICS INC | [SLNO](https://holderbook.com/stocks/SLNO/) | $3.2M | 69,980 | 0.5% | 1 |
| HEWLETT PACKARD ENTERPRISE C | [HPE](https://holderbook.com/stocks/HPE/) | $3.2M | 0 | 0.5% | 1 |
| PATHWARD FINANCIAL INC | [CASH](https://holderbook.com/stocks/CASH/) | $3.1M | 44,358 | 0.5% | 4 |
| LIFE TIME GROUP HOLDINGS INC | [LTH](https://holderbook.com/stocks/LTH/) | $3.1M | 116,400 | 0.4% | 3 |
| NATIONAL HEALTH INVS INC | [NHI](https://holderbook.com/stocks/NHI/) | $3.1M | 40,200 | 0.4% | 2 |
| MAREX GROUP PLC | [MRX](https://holderbook.com/stocks/MRX/) | $3.1M | 80,000 | 0.4% | 3 |
| LINCOLN EDL SVCS CORP | [LINC](https://holderbook.com/stocks/LINC/) | $3.0M | 125,916 | 0.4% | 5 |
| NATIONAL HEALTHCARE CORP | [NHC](https://holderbook.com/stocks/NHC/) | $3.0M | 22,000 | 0.4% | 2 |
| ROBLOX CORP | [RBLX](https://holderbook.com/stocks/RBLX/) | $3.0M | 37,000 | 0.4% | 1 |
| CUSTOMERS BANCORP INC | [CUBI](https://holderbook.com/stocks/CUBI/) | $2.9M | 40,000 | 0.4% | 1 |
| TRANSMEDICS GROUP INC | [TMDX](https://holderbook.com/stocks/TMDX/) | $2.9M | 24,000 | 0.4% | 3 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $2.9M | 0 | 0.4% | 2 |
| NVE CORP | [NVEC](https://holderbook.com/stocks/NVEC/) | $2.8M | 48,000 | 0.4% | 2 |
| TERNIUM SA | [TX](https://holderbook.com/stocks/TX/) | $2.8M | 74,000 | 0.4% | 5 |
| SEZZLE INC | [SEZL](https://holderbook.com/stocks/SEZL/) | $2.8M | 44,086 | 0.4% | 1 |
| ISHARES ETHEREUM TR | [ETHA](https://holderbook.com/stocks/ETHA/) | $2.8M | 32,449 | 0.4% | 2 |
| HUNTINGTON INGALLS INDS INC | [HII](https://holderbook.com/stocks/HII/) | $2.7M | 8,000 | 0.4% | 5 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $2.7M | 74,800 | 0.4% | 2 |
| NU HLDGS LTD | [NU](https://holderbook.com/stocks/NU/) | $2.7M | 160,000 | 0.4% | 1 |
| CAPITAL BANCORP INC MD | [CBNK](https://holderbook.com/stocks/CBNK/) | $2.6M | 94,000 | 0.4% | 1 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $2.6M | 1,300 | 0.4% | 1 |
| MODERNA INC | [MRNA](https://holderbook.com/stocks/MRNA/) | $2.6M | 66,202 | 0.4% | 4 |
| IMAX CORP | [IMAX](https://holderbook.com/stocks/IMAX/) | $2.6M | 70,000 | 0.4% | 1 |
| LEONARDO DRS INC | [DRS](https://holderbook.com/stocks/DRS/) | $2.5M | 74,800 | 0.4% | 4 |
| DIVERSIFIED HEALTHCARE TR | [DHC](https://holderbook.com/stocks/DHC/) | $2.5M | 514,478 | 0.4% | 2 |
| CORE SCIENTIFIC INC NEW | [CORZ](https://holderbook.com/stocks/CORZ/) | $2.4M | 167,000 | 0.3% | 3 |
| SNAP INC | [SNAP](https://holderbook.com/stocks/SNAP/) | $2.4M | 300,890 | 0.3% | 3 |
| ETFIS SER TR I | [BBC](https://holderbook.com/stocks/BBC/) | $2.4M | 62,526 | 0.3% | 3 |
| UP FINTECH HLDG LTD | [TIGR](https://holderbook.com/stocks/TIGR/) | $2.4M | 0 | 0.3% | 2 |
| NELNET INC | [NNI](https://holderbook.com/stocks/NNI/) | $2.4M | 18,000 | 0.3% | 1 |
| KASPI KZ JSC | [KSPI](https://holderbook.com/stocks/KSPI/) | $2.3M | 30,000 | 0.3% | 1 |
| GITLAB INC | [GTLB](https://holderbook.com/stocks/GTLB/) | $2.3M | 60,000 | 0.3% | 2 |
| HDFC BANK LTD | [HDB](https://holderbook.com/stocks/HDB/) | $2.2M | 60,488 | 0.3% | 5 |
| PROCEPT BIOROBOTICS CORP | [PRCT](https://holderbook.com/stocks/PRCT/) | $2.2M | 70,000 | 0.3% | 4 |
| BUMBLE INC | [BMBL](https://holderbook.com/stocks/BMBL/) | $2.2M | 605,208 | 0.3% | 1 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $2.1M | 6,000 | 0.3% | 1 |
| NORTHROP GRUMMAN CORP | [NOC](https://holderbook.com/stocks/NOC/) | $2.1M | 3,680 | 0.3% | 3 |
| MARQETA INC | [MQ](https://holderbook.com/stocks/MQ/) | $2.1M | 439,796 | 0.3% | 2 |
| SPROUTS FMRS MKT INC | [SFM](https://holderbook.com/stocks/SFM/) | $2.1M | 26,000 | 0.3% | 1 |
| FLOOR & DECOR HLDGS INC | [FND](https://holderbook.com/stocks/FND/) | $2.1M | 34,000 | 0.3% | 1 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $2.1M | 3,600 | 0.3% | 1 |
| THERAVANCE BIOPHARMA INC | [TBPH](https://holderbook.com/stocks/TBPH/) | $2.0M | 108,400 | 0.3% | 3 |
| L3HARRIS TECHNOLOGIES INC | [LHX](https://holderbook.com/stocks/LHX/) | $2.0M | 6,880 | 0.3% | 4 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $2.0M | 0 | 0.3% | 5 |
| REDDIT INC | [RDDT](https://holderbook.com/stocks/RDDT/) | $2.0M | 8,600 | 0.3% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q4 2025 | +2.2% | +2.4% | -0.1% | 96% |
| Q3 2025 | +8.3% | +7.8% | +0.5% | 96% |
| Q2 2025 | +10.5% | +10.5% | +0.0% | 95% |
| Q1 2025 | -5.2% | -4.6% | -0.7% | 90% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2025 | $698.6M | 215 |
| Q3 2025 | $838.8M | 205 |
| Q2 2025 | $647.3M | 200 |
| Q1 2025 | $404.4M | 158 |
| Q4 2024 | $292.4M | 241 |