SEC 13F Intelligence

Managers / Q4 2025 · view latest →

EQUITEC PROPRIETARY MARKETS, LLC

CIK 0001143261 · 111 W. JACKSON, 20TH FL.OOR, CHICAGO, IL, 60604 · 312 692-5009

Reported Value
$174M
Q4 2025
Positions
84
Filings on Record
25
2019–present window
Filed
Feb 17, 2026
original filing

Summary

Equitec Proprietary Markets, LLC reported $174M in U.S.-listed holdings across 84 positions for Q4 2025.

Its largest position, CDTX, represents 3.7% of the portfolio.

Compared with Q3 2025, the fund opened 23 new positions and exited 20.

Portfolio Metrics

Turnover
+19.5%
vs prior filed quarter
Top-10 Concentration
+11.4%
share of reported value
Largest Position
+3.7%
Cidara Therapeutics
New / Exited
23 / 20
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $257MQ4 ’18Q3 ’20: $131MQ4 ’20: $384MQ1 ’21: $318MQ1 ’21Q2 ’21: $334MQ3 ’21: $540MQ4 ’21: $739MQ4 ’21Q1 ’22: $457MQ2 ’22: $353MQ3 ’22: $380MQ3 ’22Q4 ’22: $315MQ1 ’23: $212MQ2 ’23: $331MQ2 ’23Q3 ’23: $405MQ4 ’23: $135MQ1 ’24: $164MQ1 ’24Q2 ’24: $79MQ3 ’24: $117MQ4 ’24: $102MQ4 ’24Q1 ’25: $141MQ2 ’25: $106MQ3 ’25: $440MQ3 ’25Q4 ’25: $174MQ1 ’26: $187Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 92.2%Other: 6.3%MLP: 1.4%Equity WRT: 0.1%ETP: 0.0%Other: 0.0%
  • Common Stock · 92.2% · $161M
  • Other · 6.3% · $11M
  • MLP · 1.4% · $2M
  • Equity WRT · 0.1% · $152,901
  • ETP · 0.0% · $78,278
  • Other · 0.0% · $3,588

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CDTXCIDARA THERAPEUTICS INCNEW+73.8K73.8K+$16M$16M
HO1HOLOGIC INCNEW+160.3K160.3K+$12M$12M
AVADEL PHARMACEUTICALS PLCNEW+511.1K511.1K+$11M$11M
BABOEING CONEW+20.0K20.0K+$4M$4M
BHFBRIGHTHOUSE FINL INCNEW+41.8K41.8K+$3M$3M
DVAXDYNAVAX TECHNOLOGIES CORPNEW+75.4K75.4K+$1M$1M
MIGASTRATEGY INCNEW+5.0K5.0K+$759,750$759,750
RPTXREPARE THERAPEUTICS INCNEW+249.1K249.1K+$647,595$647,595

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

19 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CDTXCIDARA THERAPEUTICS INChistory →COM NEW3.65%$6M28.8K
2HO1HOLOGIC INChistory →COM2.66%$5M62.3K
3PSKYPARAMOUNT SKYDANCE CORPhistory →COM CL B1.48%$3M192.3K
4EAELECTRONIC ARTS INChistory →COM1.04%$2M8.9K
5KBDCKAYNE ANDERSON BDC INChistory →COM SHS1.00%$2M122.0K
6WBDWARNER BROS DISCOVERY INCCOM SER A0.66%$1M40.0K
7WESWESTERN MIDSTREAM PARTNERS LCOM UNIT LP INT0.35%$611,93415.5K
8DVAXDYNAVAX TECHNOLOGIES CORPCOM NEW0.30%$522,92034.0K
9RPTXREPARE THERAPEUTICS INCCOM0.18%$307,775118.4K
10KROSKEROS THERAPEUTICS INCCOM0.10%$175,0968.6K
11MRSNMERSANA THERAPEUTICS INCCOM0.09%$161,8055.6K
12GMEGAMESTOP CORP NEWCL A0.07%$124,9986.2K
13BBAI/WSBIGBEAR AI HLDGS INC*W EXP 12/08/2020.06%$100,00662.5K
14COMPCOMPASS INCCL A0.05%$91,9598.7K
15ISHARES TR20 YR TR BD ETF0.04%$69,728800
16LVWR/WSLIVEWIRE GROUP INC*W EXP 09/26/2020.02%$36,225578.7K
17GOOGALPHABET INCCAP STK CL C0.02%$31,380100
18DAYDAYFORCE INCCOM0.02%$31,122450
19APLTAPPLIED THERAPEUTICS INCCOM0.02%$30,060300.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$187M81May 11, 202613F-HRchanges · EDGAR ↗
Q4 2025$174M84Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$440M77Nov 26, 202513F-HRchanges · EDGAR ↗
Q2 2025$106M65Aug 6, 202513F-HRchanges · EDGAR ↗
Q1 2025$141M66May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$102M72Jan 29, 202513F-HRchanges · EDGAR ↗
Q3 2024$117M73Oct 18, 202413F-HRchanges · EDGAR ↗
Q2 2024$79M80Jul 12, 202413F-HRchanges · EDGAR ↗
Q1 2024$164M90Apr 26, 2024RESTATEMENTchanges · EDGAR ↗
Q4 2023$135M109Jan 29, 202413F-HRchanges · EDGAR ↗
Q3 2023$405M132Oct 17, 202313F-HRchanges · EDGAR ↗
Q2 2023$331M106Jul 12, 202313F-HRchanges · EDGAR ↗
Q1 2023$212M162Apr 28, 202313F-HRchanges · EDGAR ↗
Q4 2022$315M213Jan 31, 202313F-HRchanges · EDGAR ↗
Q3 2022$380M292Oct 11, 202213F-HRchanges · EDGAR ↗
Q2 2022$353M300Jul 18, 202213F-HRchanges · EDGAR ↗
Q1 2022$457M265Apr 22, 202213F-HRchanges · EDGAR ↗
Q4 2021$739M441Jan 31, 202213F-HRchanges · EDGAR ↗
Q3 2021$540M274Oct 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$334M304Jul 20, 202113F-HRchanges · EDGAR ↗
Q1 2021$318M321Apr 19, 202113F-HRchanges · EDGAR ↗
Q4 2020$384M128Jan 26, 202113F-HRchanges · EDGAR ↗
Q3 2020$131M99Oct 13, 202013F-HRchanges · EDGAR ↗
Q4 2018$257M58Jan 30, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.