SEC 13F Intelligence

Managers / Q3 2025 · view latest →

Whetstone Capital Advisors, LLC

CIK 0001607278 · 2001 SHAWNEE MISSION PARKWAY, SHAWNEE MISSION, KS, 66205 · 913-951-2700

Reported Value
$361M
Q3 2025
Positions
56
Filings on Record
30
2019–present window
Filed
Nov 14, 2025
original filing

Summary

Whetstone Capital Advisors, LLC reported $361M in U.S.-listed holdings across 56 positions for Q3 2025.

Its largest position, NET, represents 18.5% of the portfolio.

Compared with Q2 2025, the fund opened 31 new positions and exited 7.

Portfolio Metrics

Turnover
+19.4%
vs prior filed quarter
Top-10 Concentration
+74.3%
share of reported value
Largest Position
+18.5%
Cloudflare
New / Exited
31 / 7
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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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: $173MQ4 ’18Q1 ’19: $247MQ2 ’19: $324MQ3 ’19: $372MQ4 ’19: $326MQ4 ’19Q1 ’20: $291MQ2 ’20: $475MQ3 ’20: $540MQ4 ’20: $484MQ4 ’20Q1 ’21: $474MQ2 ’21: $538MQ3 ’21: $572MQ4 ’21: $488MQ4 ’21Q1 ’22: $296MQ2 ’22: $171MQ3 ’22: $162MQ1 ’23: $155MQ1 ’23Q2 ’23: $179MQ3 ’23: $181MQ4 ’23: $199MQ1 ’24: $228MQ1 ’24Q2 ’24: $215MQ3 ’24: $208MQ4 ’24: $310MQ1 ’25: $226MQ1 ’25Q3 ’25: $361MQ4 ’25: $321MQ1 ’26: $288Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 98.6%ADR: 1.2%REIT: 0.1%Other: 0.1%
  • Common Stock · 98.6% · $356M
  • ADR · 1.2% · $4M
  • REIT · 0.1% · $444,738
  • Other · 0.1% · $223,545

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
PRGPROG HOLDINGS INCNEW+267.6K267.6K+$9M$9M
RELYREMITLY GLOBAL INCNEW+520.1K520.1K+$8M$8M
VERXVERTEX INCNEW+113.5K113.5K+$3M$3M
LFMDLIFEMD INCNEW+370.8K370.8K+$3M$3M
ONESTREAM INCNEW+112.3K112.3K+$2M$2M
SEZLSEZZLE INCNEW+21.7K21.7K+$2M$2M
PRTHPRIORITY TECHNOLOGY HLDGS INNEW+157.6K157.6K+$1M$1M
RPAYREPAY HLDGS CORPNEW+141.2K141.2K+$738,617$738,617

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

Holdings — Q3 2025

55 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NETCLOUDFLARE INChistory →CL A COM18.49%$67M311.2K
2DAVEDAVE INChistory →CLASS A COM NEW15.28%$55M276.7K
3GOOGALPHABET INCCAP STK CL C · CAP STK CL A8.91%$32M132.1K
4OPRXOPTIMIZERX CORPhistory →COM NEW8.56%$31M1.51M
5AMZNAMAZON COM INChistory →COM5.67%$20M93.2K
6MNDYMONDAY COM LTDhistory →SHS4.25%$15M79.2K
7BLZEBACKBLAZE INChistory →COM CL A3.75%$14M1.46M
8TOSTTOAST INChistory →CL A3.39%$12M335.0K
9SERASERA PROGNOSTICS INChistory →CLASS A COM3.08%$11M3.63M
10HCATHEALTH CATALYST INChistory →COM2.94%$11M3.73M
11LPROOPEN LENDING CORPhistory →COM2.62%$9M4.49M
12PROPROS HOLDINGS INChistory →COM2.51%$9M396.2K
13GTLBGITLAB INChistory →CLASS A COM2.40%$9M192.5K
14PRGPROG HOLDINGS INChistory →COM NPV2.40%$9M267.6K
15RELYREMITLY GLOBAL INChistory →COM2.35%$8M520.1K
16TRUECAR INCCOM1.72%$6M3.38M
17DKNGDRAFTKINGS INC NEWhistory →COM CL A1.65%$6M159.5K
18ASANASANA INChistory →CL A1.41%$5M381.7K
19DSPVIANT TECHNOLOGY INChistory →COM CL A1.40%$5M585.6K
20OPRAOPERA LTDhistory →SPONSORED ADS1.04%$4M181.9K
21VERXVERTEX INCCL A0.78%$3M113.5K
22KPLTKATAPULT HOLDINGS INCCOM NEW0.73%$3M221.8K
23LFMDLIFEMD INCCOM0.70%$3M370.8K
24BODITHE BEACHBODY COMPANY INCCOM CL A NEW0.66%$2M399.6K
25ONESTREAM INCCL A0.57%$2M112.3K
26SEZLSEZZLE INCCOM0.48%$2M21.7K
27PRTHPRIORITY TECHNOLOGY HLDGS INCOM0.30%$1M157.6K
28RPAYREPAY HLDGS CORPCOM CL A0.20%$738,617141.2K
29NTSKNETSKOPE INCCL A0.11%$386,41017.0K
30NEENEXTERA ENERGY INCCOM0.07%$246,9283.3K
31GSKGSK PLCSPONSORED ADR0.07%$245,8395.7K
32PSXPHILLIPS 66COM0.07%$244,4281.8K
33JNJJOHNSON & JOHNSONCOM0.07%$244,0131.3K
34WSOWATSCO INCCOM0.07%$239,346592
35MOALTRIA GROUP INCCOM0.07%$237,2883.6K
36CNQCANADIAN NAT RES LTDCOM0.07%$235,8017.4K
37MTNVAIL RESORTS INCCOM0.06%$234,5261.6K
38QSRRESTAURANT BRANDS INTL INCCOM0.06%$233,9193.6K
39MDTMEDTRONIC PLCSHS0.06%$233,1482.4K
40MMM3M COCOM0.06%$231,2181.5K
41SNYSANOFI SASPONSORED ADR0.06%$230,8554.9K
42PMPHILIP MORRIS INTL INCCOM0.06%$230,6481.4K
43BAHBOOZ ALLEN HAMILTON HLDG CORCL A0.06%$230,1852.3K
44CITHE CIGNA GROUPCOM0.06%$227,718790
45OUTOUTFRONT MEDIA INCCOM NEW0.06%$226,85712.4K
46SMGSCOTTS MIRACLE-GRO COCL A0.06%$225,5794.0K
47UNILEVER PLCSPON ADR NEW0.06%$223,5453.8K
48UNHUNITEDHEALTH GROUP INCCOM0.06%$219,956637
49LYBLYONDELLBASELL INDUSTRIES NSHS - A -0.06%$219,6014.5K
50KREFKKR REAL ESTATE FIN TR INCCOM0.06%$217,88124.2K
51APOAPOLLO GLOBAL MGMT INCCOM0.06%$214,1651.6K
52CGCARLYLE GROUP INCCOM0.06%$211,8633.4K
53BXBLACKSTONE INCCOM0.06%$211,0001.2K
54KVUEKENVUE INCCOM0.06%$203,58912.5K
55THRYTHRYV HLDGS INCCOM NEW0.06%$198,68916.5K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$288M56May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$321M54Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$361M56Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025Under review32Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$226M28May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$310M30Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$208M37Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$215M38Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$228M31May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$199M30Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$181M35Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$179M37Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$155M38May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review32Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$162M24Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$171M22Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$296M24May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$488M26Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$572M29Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$538M26Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$474M30May 12, 202113F-HRchanges · EDGAR ↗
Q4 2020$484M26Feb 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$540M31Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$475M34Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$291M29May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$326M23Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$372M24Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$324M23Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$247M18May 13, 201913F-HRchanges · EDGAR ↗
Q4 2018$173M17Feb 14, 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 ↗.