Managers / Q1 2025 · view latest →
MAK CAPITAL ONE LLC
CIK 0001385702 · 590 MADISON AVENUE, 31ST FLOOR, NEW YORK, NY, 10022 · 212-486-3291
Summary
Mak Capital One LLC reported $589M in U.S.-listed holdings across 10 positions for Q1 2025.
The portfolio is heavily concentrated: SKY alone accounts for 40.2% of reported value.
Compared with Q4 2024, the fund opened 2 new positions and exited 2.
Portfolio Metrics
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
Portfolio Composition
- Common Stock · 87.9% · $518M
- ADR · 10.4% · $61M
- Other · 1.6% · $9M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| CTRACOTERRA ENERGY INC | NEW | +1.04M | 1.04M | +$30M | $30M |
| FLBSTANDARD BIOTOOLS INC | NEW | +2.77M | 2.77M | +$3M | $3M |
| SBSWSIBANYE STILLWATER LTD | SOLD OUT | −3.57M | 0 | −$12M | $0 |
| LASRNLIGHT INC | SOLD OUT | −69.5K | 0 | −$728,971 | $0 |
| LOMA NEGRA C I A S A MTN 14 | TRIMMED | −304.2K | 2.35M | −$6M | $26M |
| AGYSAGILYSYS INC | HELD | +0 | 1.52M | −$90M | $110M |
| SKYCHAMPION HOMES INC | HELD | +0 | 3.50M | +$23M | $332M |
| YATRA ONLINE INC | HELD | +0 | 12.17M | −$6M | $9M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | SKYCHAMPION HOMES INChistory → | COM | 40.24% | $237M | 2.50M |
| 2 | AGYSAGILYSYS INChistory → | COM | 14.70% | $87M | 1.19M |
| 3 | HSIHEIDRICK & STRUGGLES INTL INhistory → | COM | 7.26% | $43M | 997.5K |
| 4 | SUPVGRUPO SUPERVIELLE S.A.history → | SPONSORED ADR | 6.05% | $36M | 2.73M |
| 5 | CTRACOTERRA ENERGY INChistory → | COM | 5.12% | $30M | 1.04M |
| 6 | LOMA NEGRA C I A S A MTN 14 | SPONSORED ADS | 4.39% | $26M | 2.35M |
| 7 | YATRA ONLINE INC | ORD SHS | 1.61% | $9M | 12.17M |
| 8 | FLBSTANDARD BIOTOOLS INC | COM | 0.51% | $3M | 2.77M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $679M | 22 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $909M | 23 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $650M | 14 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $698M | 16 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $589M | 10 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $654M | 10 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $489M | 10 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $418M | 9 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $504M | 10 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $541M | 7 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $540M | 11 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $528M | 9 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $636M | 10 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $604M | 10 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $512M | 12 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $507M | 13 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $478M | 12 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $532M | 10 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $506M | 10 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $503M | 9 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $421M | 10 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $373M | 14 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $238M | 11 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $196M | 6 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $113M | 7 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $305M | 8 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $250M | 5 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $211M | 5 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $186M | 6 | May 17, 2019 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2018 | $185M | 7 | Feb 14, 2019 | 13F-HR | changes · 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 ↗.