Sandia Investment Management LP
Reported holdings as of Q4 2025, from 17 quarterly filings.
This filer last reported in Q4 2025; the most recent quarter on file across all filers is Q2 2026. Firms that restructure stop filing under one CIK and start under another, so a successor entity may hold these positions now under a similar name.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| HAYMAKER ACQUISITION CORP IV | HYAC | $4.0M | 349,987 | +3.17pp | 5q | +75.0%+$1.7M | |
| BOLD EAGLE ACQUISITION CORP | BEAG | $1.2M | 117,662 | -2.50pp | 5q | -34.9%-$668.7K | |
| REGIS CORPORATION | RGS | $914.0K | 32,936 | -0.58pp | 6q | HELD | |
| STURM RUGER & CO INC | RGR | $864.7K | 26,485 | - | new | NEW | |
| LEGENCE CORP | LGN | $854.3K | 19,850 | +1.21pp | 2q | +98.5%+$423.9K | |
| MEDLINE INC | MDLN | $840.0K | 20,000 | - | new | NEW | |
| ALLIANCE LAUNDRY HLDGS INC | ALH | $804.3K | 39,522 | - | new | NEW | |
| WATERBRIDGE INFRASTRUCTURE L | WBI | $800.4K | 40,000 | +0.12pp | 2q | +60.0%+$300.1K | |
| SILICON VY ACQUISITION CORP | SVAQU | $745.9K | 75,000 | - | new | NEW | |
| NETSKOPE INC | NTSK | $701.6K | 40,000 | +1.07pp | 2q | +300.0%+$526.2K | |
| CARIS LIFE SCIENCES INC | CAI | $636.7K | 23,600 | +0.81pp | 3q | +174.4%+$404.7K | |
| GORES HLDGS X INC | GTEN | $631.7K | 61,632 | +0.05pp | 2q | +23.0%+$117.9K | |
| STONEBRIDGE ACQUISITION II C | APACU | $602.4K | 60,000 | -0.28pp | 2q | HELD | |
| MIAMI INTL HLDGS INC | MIAX | $576.9K | 13,000 | +0.65pp | 2q | +97.0%+$284.0K | |
| ROMAN DBDR ACQUISITION CORP | DRDB | $521.9K | 50,038 | -0.24pp | 3q | HELD | |
| UL SOLUTIONS INC | ULS | $515.4K | 6,535 | - | new | NEW | |
| LIVE OAK ACQUISITION CORP V | LOKV | $515.0K | 50,000 | -1.76pp | 3q | -50.0%-$515.0K | |
| CANTOR EQUITY PARTNERS V INC | CEPV | $512.5K | 50,000 | - | new | NEW | |
| AI INFRASTRUCTURE ACQUISI | AIIAU | $509.0K | 50,000 | - | new | NEW | |
| M3-BRIGADE ACQUISITION VI CO | MBVIU | $506.2K | 50,000 | -0.25pp | 2q | HELD | |
| VINE HILL CAP INVTS CORP II | VHCPU | $501.1K | 50,000 | - | new | NEW | |
| HALL CHADWICK ACQUISITION CO | HCACU | $501.0K | 50,000 | - | new | NEW | |
| BLUEROCK ACQUISITION CORP | BLRKU | $500.0K | 50,000 | - | new | NEW | |
| ITHAX ACQUISITION CORP III | ITHAU | $498.8K | 50,000 | - | new | NEW | |
| BITCOIN INFRASTRUCTURE ACQUI | BIXIU | $498.0K | 50,000 | - | new | NEW | |
| TGE VALUE CREATIVE SOLUTIONS | BEBEU | $497.0K | 50,000 | - | new | NEW | |
| VIA TRANSN INC | VIA | $494.6K | 17,048 | -1.20pp | 2q | HELD | |
| INVEST GREEN ACQUISITION COR | IGACU | $471.4K | 47,000 | - | new | NEW | |
| HEARTFLOW INC | HTFL | $464.0K | 15,917 | +0.40pp | 2q | +112.2%+$245.4K | |
| AA MISSION ACQUISITION CORP | YCYU | $450.8K | 44,700 | - | new | NEW | |
| BLACK ROCK COFFEE BAR INC | BRCB | $445.0K | 20,000 | +0.04pp | 2q | +33.3%+$111.2K | |
| ANTERIX INC | ATEX | $436.6K | 20,000 | -0.66pp | 2q | -26.8%-$160.2K | |
| SILVERBOX CORP V | SBXEU | $434.1K | 43,150 | - | new | NEW | |
| ITT INC | ITT | $433.8K | 2,500 | - | new | NEW | |
| STANDARDAERO INC | SARO | $430.2K | 15,000 | -0.55pp | 5q | -25.0%-$143.4K | |
| SONIDA SENIOR LIVING INC | SNDA | $411.3K | 12,612 | -0.02pp | 6q | HELD | |
| FIGURE TECHNOLOGY SOLUTIO | FIGR | $408.4K | 10,000 | +0.10pp | 2q | +17.6%+$61.3K | |
| REVOLUTION MEDICINES INC | RVMD | $398.2K | 5,000 | +0.30pp | 5q | HELD | |
| CIRCLE INTERNET GROUP INC | CRCL | $396.5K | 5,000 | +0.40pp | 2q | +233.3%+$277.6K | |
| CENTURI HOLDINGS INC | CTRI | $378.8K | 15,000 | +0.10pp | 7q | +11.9%+$40.4K | |
| BULLISH | BLSH | $378.7K | 10,000 | +0.91pp | 2q | +4900.0%+$371.1K | |
| BRIGHTSPRING HEALTH SVCS INC | BTSG | $374.5K | 10,000 | - | new | NEW | |
| KODIAK GAS SVCS INC | KGS | $374.0K | 10,000 | -0.72pp | 3q | -33.3%-$187.0K | |
| KLARNA GROUP PLC | KLAR | $358.6K | 12,404 | -0.31pp | 2q | +12.8%+$40.6K | |
| VIKING ACQUISITION CORP I | VACIU | $352.4K | 35,000 | - | new | NEW | |
| ALDEL FINL II INC | ALDF | $314.7K | 30,000 | -0.38pp | 3q | -20.0%-$78.7K | |
| CHIME FINL INC | CHYM | $314.6K | 12,500 | -0.12pp | 3q | -16.7%-$62.9K | |
| NEPTUNE INS HLDGS INC | NP | $306.2K | 10,500 | - | new | NEW | |
| COREBRIDGE FINL INC | CRBG | $301.7K | 10,000 | +0.27pp | 14q | +100.0%+$150.8K | |
| PACS GROUP INC | PACS | $287.9K | 7,500 | +0.21pp | 7q | -40.0%-$191.9K | |
| COHERENT CORP | COHR | $276.9K | 1,500 | - | new | NEW | |
| JAKKS PAC INC | JAKK | $274.1K | 16,236 | +0.07pp | 5q | +47.5%+$88.2K | |
| FIGMA INC | FIG | $261.6K | 7,000 | +0.50pp | 2q | +600.0%+$224.2K | |
| FACT II ACQUISITION CORP | FACT | $260.2K | 25,000 | -3.20pp | 3q | -80.0%-$1.0M | |
| JENA ACQUISITION CORP II | JENAU | $260.0K | 25,000 | -0.13pp | 2q | HELD | |
| PYROPHYTE ACQUISITION CORP. | PAIIU | $259.2K | 25,000 | -0.11pp | 2q | HELD | |
| NEWHOLD INVT CORP III | NHIC | $259.1K | 25,000 | -0.11pp | 3q | HELD | |
| OTG ACQUISITION CORP. I | OTGAU | $254.8K | 25,000 | -0.88pp | 2q | -50.6%-$260.7K | |
| SOLARIUS CAPITAL ACQU CORP | SOCAU | $254.8K | 25,000 | -0.12pp | 2q | HELD | |
| KARBON CAP PARTNERS CORP | KBONU | $251.6K | 25,000 | - | new | NEW | |
| TAILWIND 2.0 ACQUISITION COR | TDWDU | $251.5K | 25,000 | - | new | NEW | |
| MESHFLOW ACQUISITION CORP | MESHU | $250.0K | 25,000 | - | new | NEW | |
| SLIDE INS HLDGS INC | SLDE | $228.9K | 11,748 | -0.09pp | 3q | -16.1%-$43.9K | |
| SMITHFIELD FOODS INC | SFD | $223.3K | 10,000 | -1.19pp | 4q | -60.0%-$334.9K | |
| GRUPO AEROMEXICO SAB DE CV | AERO | $219.6K | 10,000 | - | new | NEW | |
| ATEGRITY SPECIALTY IN CO HO | ASIC | $216.4K | 10,300 | -0.36pp | 3q | -32.7%-$105.1K | |
| IMMUNOME INC | IMNM | $214.8K | 10,000 | - | new | NEW | |
| WAYSTAR HLDG CORP | WAY | $214.5K | 6,550 | -1.16pp | 7q | -56.3%-$276.7K | |
| KLAVIYO INC | KVYO | $212.2K | 6,534 | -0.30pp | 3q | -34.7%-$112.5K | |
| OLD MKT CAP CORP | OMCC | $209.7K | 40,491 | -0.03pp | 6q | +13.0%+$24.1K | |
| BLUE ACQUISITION CORP. | BACCU | $207.7K | 19,741 | -0.08pp | 3q | -1.3%-$2.7K | |
| TALON CAP CORP | TLNCU | $205.8K | 20,000 | -0.23pp | 2q | -19.7%-$50.4K | |
| AXIOM INTELLIGENCE AC CORP 1 | AXINU | $204.8K | 20,000 | -0.09pp | 3q | HELD | |
| EQV VENTURES AC CORP. II | EVACU | $202.2K | 20,000 | -0.09pp | 2q | HELD | |
| CONTANGO SILVER & GOLD INC | CTGO | $201.5K | 7,630 | - | new | NEW | |
| CRANE HBR ACQUISITION CORP I | CRANU | $201.4K | 20,000 | - | new | NEW | |
| SAILPOINT INC | SAIL | $199.0K | 9,837 | -0.82pp | 4q | -50.8%-$205.6K | |
| DLH HLDGS CORP | DLHC | $196.7K | 34,806 | - | new | NEW | |
| LUMEXA IMAGING HOLDINGS INC | LMRI | $185.0K | 10,000 | - | new | NEW | |
| KARMAN HLDGS INC | KRMN | $182.9K | 2,500 | -0.62pp | 4q | -50.0%-$182.9K | |
| RAPPORT THERAPEUTICS INC | RAPP | $182.0K | 6,000 | -0.08pp | 2q | HELD | |
| LAKELAND INDS INC | LAKE | $181.9K | 20,580 | -0.45pp | 3q | HELD | |
| CARETRUST REIT INC | CTRE | $180.8K | 5,000 | -0.07pp | 2q | HELD | |
| ETORO GROUP LTD | ETOR | $175.7K | 5,000 | -0.79pp | 3q | -50.0%-$175.7K | |
| PHOENIX ED PARTNERS INC | PXED | $160.7K | 5,302 | - | new | NEW | |
| LOAR HOLDINGS INC | LOAR | $157.8K | 2,321 | -1.39pp | 3q | -69.0%-$351.5K | |
| BTC DEV CORP | BDCIU | $152.1K | 15,000 | -0.22pp | 2q | -25.0%-$50.7K | |
| ALUSSA ENERGY ACQUISIT CORP | ALUBU | $151.5K | 15,000 | - | new | NEW | |
| INSIGHT DIGITAL PARTNERS II | DYORU | $150.4K | 14,935 | - | new | NEW | |
| DYNAMIX CORP III | DNMXU | $149.1K | 14,835 | - | new | NEW | |
| GRAVITY CO LTD | GRVY | $142.4K | 2,460 | - | new | NEW | |
| OMADA HEALTH INC | OMDA | $139.5K | 8,843 | -0.64pp | 3q | -41.0%-$97.2K | |
| VERA THERAPEUTICS INC | VERA | $126.6K | 2,500 | - | new | NEW | |
| FIGX CAP ACQUISITION CORP. | FIGXU | $121.0K | 11,888 | -0.06pp | 3q | HELD | |
| U S GLOBAL INVS INC | GROW | $105.5K | 43,793 | - | new | NEW | |
| CANTOR EQUITY PARTNERS III I | CAEP | $105.2K | 10,311 | -0.08pp | 3q | -8.3%-$9.6K | |
| 1RT ACQUISITION CORP. | ONCHU | $104.0K | 10,000 | -0.06pp | 2q | HELD | |
| HAYMAKER ACQUISITION CORP IV | HYACWS | $102.3K | 66,002 | +0.04pp | 5q | -59.4%-$149.6K | |
| CLARUS CORP NEW | CLAR | $100.5K | 30,000 | -0.47pp | 6q | -56.5%-$130.5K | |
| MDU RES GROUP INC | MDU | $97.6K | 5,000 | - | new | NEW | |
| NET LEASE OFFICE PROPERTIES | NLOP | $86.1K | 3,339 | - | new | NEW | |
| TITAN AMER SA | TTAM | $82.4K | 5,000 | -0.02pp | 4q | HELD | |
| FIREFLY AEROSPACE INC | FLY | $71.7K | 3,205 | -0.26pp | 2q | -35.9%-$40.2K | |
| VOYAGER TECHNOLOGIES INC | VOYG | $65.3K | 2,500 | -0.33pp | 3q | -54.5%-$78.4K | |
| BOLD EAGLE ACQUISITION CORP | BEAGR | $47.5K | 148,300 | flat | 3q | -1.1% | |
| GEMINI SPACE STA INC | GEMI | $45.3K | 4,563 | -0.57pp | 2q | -52.0%-$49.0K | |
| WEALTHFRONT CORP | WLTH | $44.4K | 3,269 | - | new | NEW | |
| OGE ENERGY CORP | OGE | $42.7K | 1,000 | - | new | NEW | |
| FUTURECREST ACQUISITION CORP | FCRSU | $41.0K | 4,000 | -0.21pp | 2q | -60.0%-$61.4K | |
| COGENT BIOSCIENCES INC | COGT | $35.5K | 1,000 | -0.55pp | 2q | -93.3%-$497.3K | |
| LIVE OAK ACQUISITION CORP V | LOKVW | $28.9K | 29,294 | flat | 3q | -40.8%-$19.9K | |
| GCT SEMICONDUCTOR HLDG INC | GCTSWS | $26.3K | 349,398 | -0.16pp | 8q | -12.7%-$3.8K | |
| BETA TECHNOLOGIES INC | BETA | $25.5K | 905 | - | new | NEW | |
| VALARIS LTD | VALWS | $21.6K | 12,296 | -0.05pp | 3q | HELD | |
| ENVOY MEDICAL INC | COCHW | $20.0K | 514,702 | -0.02pp | 9q | -12.7%-$2.9K | |
| KESTRA MED TECHNOLOGIES LTD | KMTS | $17.3K | 653 | - | new | NEW | |
| CLASSOVER HLDGS INC | KIDZ | $16.2K | 90,000 | -0.28pp | 3q | HELD | |
| ALEANNA INC | ANNAW | $10.6K | 74,647 | -0.02pp | 5q | HELD | |
| FACT II ACQUISITION CORP | FACTW | $8.8K | 25,000 | -0.03pp | 3q | -60.0%-$13.1K | |
| EQV VENTURES ACQUISITION COR | FTWWS | $6.6K | 13,779 | -0.01pp | 3q | -31.1%-$3.0K | |
| AA MISSION ACQUISITION CORP | AAMWS | $6.6K | 38,725 | -0.02pp | 2q | -48.4%-$6.2K | |
| BAIRD MED INVT HLDGS LTD | BDMDW | $6.0K | 108,100 | -0.01pp | 5q | HELD | |
| ABPRO HLDGS INC | ABPWW | $5.9K | 358,427 | -0.01pp | 5q | HELD | |
| NEWHOLD INVT CORP III | NHICW | $5.3K | 12,500 | flat | 3q | HELD | |
| ANDRETTI ACQUISITION CORP II | POLEW | $4.3K | 14,970 | flat | 3q | -25.1%-$1.5K | |
| BRIDGER AEROSPACE GRP HLDGS | BAERW | $3.5K | 17,690 | flat | 12q | HELD | |
| MELAR ACQUISITION CORP. I | MACIW | $3.5K | 25,000 | flat | 2q | HELD | |
| RESERVOIR MEDIA INC | RSVRW | $2.4K | 8,695 | - | new | NEW |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Holding & Investment | $11.1M | 27.7% |
| Industrials | $2.5M | 6.2% |
| Software & IT Services | $2.2M | 5.6% |
| Banks & Lending | $2.2M | 5.4% |
| Healthcare Services | $2.0M | 5.1% |
| Business Services | $1.8M | 4.5% |
| Energy | $1.6M | 3.9% |
| Medical Devices | $1.5M | 3.8% |
| Autos & Aerospace | $1.2M | 3.0% |
| Insurance | $1.1M | 2.6% |
| Biotech & Pharma | $963.1K | 2.4% |
| Capital Markets | $858.1K | 2.1% |
| Other sectors | $3.1M | 7.8% |
| Not classified | $8.0M | 19.8% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q4 2025 | $40.1M | 128 | 44 | 18 | 39 | 22 | 29.3% | 48 |
| Q3 2025 | $33.6M | 106 | 41 | 5 | 26 | 37 | 33.8% | 45 |
| Q2 2025 | $39.0M | 102 | 60 | 8 | 12 | 48 | 36.1% | 45 |
| Q1 2025 | $34.3M | 90 | 20 | 8 | 31 | 45 | 38.8% | 45 |
| Q4 2024 | $53.0M | 115 | 48 | 10 | 23 | 41 | 47.7% | 45 |
| Q3 2024 | $62.3M | 108 | 38 | 2 | 19 | 45 | 52.4% | 45 |
| Q2 2024 | $80.6M | 115 | 29 | 4 | 20 | 47 | 53.0% | 45 |
| Q1 2024 | $103.6M | 133 | 36 | 8 | 33 | 70 | 52.5% | 45 |
| Q4 2023 | $145.4M | 167 | 24 | 3 | 96 | 71 | 47.0% | 45 |
| Q3 2023 | $368.1M | 214 | 49 | 3 | 64 | 59 | 34.7% | 45 |
| Q2 2023 | $452.0M | 224 | 75 | 15 | 64 | 84 | 34.3% | 45 |
| Q1 2023 | $545.8M | 233 | 85 | 13 | 22 | 92 | 31.2% | 45 |
| Q4 2022 | $571.2M | 240 | 64 | 20 | 50 | 86 | 30.8% | 45 |
| Q3 2022 | $664.2M | 262 | 61 | 20 | 22 | 101 | 26.7% | 46 |
| Q2 2022 | $726.1M | 302 | 42 | 49 | 19 | 29 | 24.4% | 46 |
| Q1 2022 | $705.4M | 289 | 63 | 45 | 19 | 28 | 24.9% | 46 |
| Q4 2021 | $595.7M | 254 | 0 | 0 | 0 | 0 | 27.4% | 45 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.