SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Whetstone Capital Advisors, LLC

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

Reported Value
$321M
Q4 2025
Positions
54
Filings on Record
30
2019–present window
Filed
Feb 13, 2026
original filing

Summary

Whetstone Capital Advisors, LLC reported $321M in U.S.-listed holdings across 54 positions for Q4 2025.

Its largest position, DAVE, represents 18.8% of the portfolio.

Compared with Q3 2025, the fund opened 10 new positions and exited 12.

Portfolio Metrics

Turnover
+14.2%
vs prior filed quarter
Top-10 Concentration
+77.8%
share of reported value
Largest Position
+18.8%
Dave
New / Exited
10 / 12
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: $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: $155,129Q1 ’23Q2 ’23: $179,209Q3 ’23: $180,794Q4 ’23: $198,848Q1 ’24: $228,442Q1 ’24Q2 ’24: $215,470Q3 ’24: $207,505Q4 ’24: $310,224Q1 ’25: $226,326Q1 ’25Q3 ’25: $361MQ4 ’25: $321MQ1 ’26: $288Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 97.6%ADR: 1.4%Other: 0.9%REIT: 0.1%
  • Common Stock · 97.6% · $313M
  • ADR · 1.4% · $4M
  • Other · 0.9% · $3M
  • REIT · 0.1% · $446,061

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
XYZBLOCK INCNEW+115.4K115.4K+$8M$8M
XZOEXZEO GROUP INCNEW+184.8K184.8K+$4M$4M
BLNDBLEND LABS INCNEW+1.17M1.17M+$4M$4M
FIVERR INTL LTDNEW+126.4K126.4K+$2M$2M
REAXTHE REAL BROKERAGE INCNEW+197.2K197.2K+$719,751$719,751
SEATVIVID SEATS INCNEW+82.6K82.6K+$595,250$595,250
GOLDEN MATRIX GROUP INCNEW+413.4K413.4K+$331,052$331,052
ULUNILEVER PLCNEW+3.5K3.5K+$229,423$229,423

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

Holdings — Q4 2025

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1DAVEDAVE INChistory →CLASS A COM NEW18.79%$60M271.9K
2NETCLOUDFLARE INChistory →CL A COM18.02%$58M293.0K
3GOOGALPHABET INCCAP STK CL C · CAP STK CL A12.88%$41M131.6K
4AMZNAMAZON COM INChistory →COM6.70%$21M93.1K
5OPRXOPTIMIZERX CORPhistory →COM NEW5.77%$18M1.51M
6TOSTTOAST INChistory →CL A3.72%$12M336.0K
7SERASERA PROGNOSTICS INChistory →CLASS A COM3.18%$10M3.46M
8RPAYREPAY HLDGS CORPhistory →COM CL A3.11%$10M2.73M
9LPROOPEN LENDING CORPhistory →COM2.91%$9M6.01M
10HCATHEALTH CATALYST INChistory →COM2.80%$9M3.75M
11RELYREMITLY GLOBAL INChistory →COM2.49%$8M579.3K
12XYZBLOCK INChistory →CL A2.34%$8M115.4K
13BLZEBACKBLAZE INChistory →COM CL A2.21%$7M1.52M
145TCTRUECAR INChistory →COM2.17%$7M3.07M
15PRGPROG HOLDINGS INChistory →COM NPV1.68%$5M182.7K
16ASANASANA INChistory →CL A1.63%$5M381.7K
17XZOEXZEO GROUP INChistory →COM SHS1.40%$4M184.8K
18SEZLSEZZLE INChistory →COM1.14%$4M57.6K
19BLNDBLEND LABS INChistory →CL A1.11%$4M1.17M
20OPRAOPERA LTDhistory →SPONSORED ADS1.08%$3M245.5K
21BODITHE BEACHBODY COMPANY INCCOM CL A NEW0.96%$3M297.6K
22FIVERR INTL LTDORD SHS0.78%$2M126.4K
23LFMDLIFEMD INCCOM0.75%$2M703.1K
24REAXTHE REAL BROKERAGE INCCOM NEW0.22%$719,751197.2K
25SEATVIVID SEATS INCCOM CL A0.19%$595,25082.6K
26GOLDEN MATRIX GROUP INCCOM0.10%$331,052413.4K
27CRCCANADIAN NAT RES LTDCOM0.07%$238,8127.1K
28KVUEKENVUE INCCOM0.07%$232,23713.5K
29UNHUNITEDHEALTH GROUP INCCOM0.07%$232,067703
30SNYSANOFI SASPONSORED ADR0.07%$230,3794.8K
31GSKGSK PLCSPONSORED ADR0.07%$230,1454.7K
32ULUNILEVER PLCSPON ADR NEW0.07%$229,4233.5K
334I1PHILIP MORRIS INTL INCCOM0.07%$229,0511.4K
34MMM3M COCOM0.07%$228,9431.4K
35NEENEXTERA ENERGY INCCOM0.07%$228,5572.8K
36CITHE CIGNA GROUPCOM0.07%$228,166829
37OUTOUTFRONT MEDIA INCCOM NEW0.07%$227,3359.4K
38JNJJOHNSON & JOHNSONCOM0.07%$227,2311.1K
39PSXPHILLIPS 66COM0.07%$226,9811.8K
40LYONDELLBASELL INDUSTRIES NSHS - A -0.07%$226,9355.2K
41BXBLACKSTONE INCCOM0.07%$225,8151.5K
42MOALTRIA GROUP INCCOM0.07%$224,4703.9K
43MEDTRONIC PLCSHS0.07%$224,3962.3K
44SMGSCOTTS MIRACLE-GRO COCL A0.07%$224,1223.8K
45BAHBOOZ ALLEN HAMILTON HLDGCL A0.07%$223,7232.7K
46QSRRESTAURANT BRANDS INTL INCCOM0.07%$221,4063.2K
47WSOWATSCO INCCOM0.07%$221,039656
48APOAPOLLO GLOBAL MGMT INCCOM0.07%$220,6141.5K
49KREFKKR REAL ESTATE FIN TR INCCOM0.07%$218,72626.6K

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$226,32628May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$310,22430Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$207,50537Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$215,47038Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$228,44231May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$198,84830Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$180,79435Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$179,20937Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$155,12938May 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 ↗.