SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Verdad Advisers, LP

CIK 0001812822 · 695 ATLANTIC AVENUE, 4TH FLOOR, BOSTON, MA, 02111 · 2022516707

Reported Value
$87M
Q4 2025
Positions
104
Filings on Record
18
2021–present window
Filed
Feb 17, 2026
original filing

Summary

Verdad Advisers, LP reported $87M in U.S.-listed holdings across 104 positions for Q4 2025.

Its largest position, C, represents 4.6% of the portfolio.

Compared with Q3 2024, the fund opened 82 new positions and exited 70.

Portfolio Metrics

Turnover
+71.6%
vs prior filed quarter
Top-10 Concentration
+33.5%
share of reported value
Largest Position
+4.6%
Citigroup
New / Exited
82 / 70
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 ’20: $265MQ4 ’20Q1 ’21: $314MQ2 ’21: $51MQ3 ’21: $138MQ3 ’21Q4 ’21: $148MQ1 ’22: $122MQ2 ’22: $106MQ2 ’22Q3 ’22: $69MQ4 ’22: $99MQ1 ’23: $50MQ1 ’23Q2 ’23: $64MQ3 ’23: $65MQ4 ’23: $49MQ4 ’23Q1 ’24: $92MQ2 ’24: $87MQ3 ’24: $75MQ3 ’24Q4 ’25: $87MQ1 ’26: $89Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 93.7%ADR: 2.0%ETP: 1.5%Royalty Trst: 1.0%Other: 0.9%REIT: 0.9%
  • Common Stock · 93.7% · $82M
  • ADR · 2.0% · $2M
  • ETP · 1.5% · $1M
  • Royalty Trst · 1.0% · $847,868
  • Other · 0.9% · $809,177
  • REIT · 0.9% · $783,150

Quarter-over-Quarter Changes full breakdown →

vs Q3 2024 (amended baseline) · note: prior filed quarter, not the immediately preceding one

IssuerMoveShare ΔShares nowValue ΔValue now
CCITIGROUP INCNEW+34.6K34.6K+$4M$4M
CMCSACOMCAST CORP NEWNEW+98.4K98.4K+$3M$3M
LRCXLAM RESEARCH CORPNEW+15.5K15.5K+$3M$3M
TGNATEGNA INCNEW+2.51M2.51M+$2M$2M
MUMICRON TECHNOLOGY INCNEW+6.8K6.8K+$2M$2M
VOYAVOYA FINANCIAL INCNEW+2.00M2.00M+$2M$2M
CBRECBRE GROUP INCNEW+11.3K11.3K+$2M$2M
BNYBANK NEW YORK MELLON CORPNEW+14.8K14.8K+$2M$2M

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

Holdings — Q4 2025

104 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CCITIGROUP INChistory →COM NEW4.61%$4M34.6K
2TJXTJX COS INC NEWhistory →COM4.36%$4M24.8K
3JNJJOHNSON & JOHNSONhistory →COM4.12%$4M17.4K
4CMCSACOMCAST CORP NEWhistory →CL A3.37%$3M98.4K
5CVXCHEVRON CORP NEWhistory →COM3.23%$3M18.5K
6GOOGLALPHABET INChistory →CAP STK CL A3.04%$3M8.5K
7LRCXLAM RESEARCH CORPhistory →COM NEW3.03%$3M15.5K
8TGNATEGNA INChistory →COM2.85%$2M2.51M
9CSCOCISCO SYS INChistory →COM2.64%$2M29.9K
10MUMICRON TECHNOLOGY INChistory →COM2.22%$2M6.8K
11VOYAVOYA FINANCIAL INChistory →COM2.17%$2M2.00M
12CBRECBRE GROUP INChistory →CL A2.08%$2M11.3K
13ZMZOOM COMMUNICATIONS INChistory →CL A2.07%$2M20.9K
14TAT&T INChistory →COM1.97%$2M69.5K
15BNYBANK NEW YORK MELLON CORPhistory →COM1.96%$2M14.8K
16CALMCAL MAINE FOODS INChistory →COM NEW1.88%$2M20.7K
17MSMORGAN STANLEYhistory →COM NEW1.69%$1M8.3K
18PFEPFIZER INChistory →COM1.51%$1M53.1K
19AVDVAMERICAN CENTY ETF TRhistory →INTL SMCP VLU1.51%$1M14.0K
20GMGENERAL MTRS COhistory →COM1.47%$1M15.8K
21CIENCIENA CORPhistory →COM NEW1.45%$1M5.4K
22CVSCVS HEALTH CORPhistory →COM1.43%$1M15.7K
23MRKMERCK & CO INChistory →COM1.40%$1M11.6K
24QCOMQUALCOMM INChistory →COM1.37%$1M7.0K
25NVDANVIDIA CORPORATIONhistory →COM1.34%$1M6.3K
26AAPLAPPLE INChistory →COM1.31%$1M4.2K
27RLRALPH LAUREN CORPhistory →CL A1.12%$982,3292.8K
28WMTWALMART INChistory →COM1.08%$941,5268.5K
29BWABORGWARNER INChistory →COM1.07%$939,05020.8K
30FFORD MTR COCOM0.99%$865,92066.0K
31GSLGLOBAL SHIP LEASE INC NEWCOM CL A0.98%$859,63624.5K
32HRTGHERITAGE INSURANCE HLDGS INCCOM0.96%$841,92728.8K
33AMDADVANCED MICRO DEVICES INCCOM0.95%$830,7273.9K
34GLWCORNING INCCOM0.95%$828,5809.5K
35VTRSVIATRIS INCCOM0.93%$809,25065.0K
36AMZNAMAZON COM INCCOM0.91%$799,0993.5K
37CLDTCHATHAM LODGING TRCOM0.90%$783,150115.0K
38AIIAMERICAN INTEGRITY INS GROUPCOM0.89%$781,95837.5K
39NUSNU SKIN ENTERPRISES INCCL A0.87%$757,55678.7K
40MSBMESABI TRCTF BEN INT0.86%$753,72119.6K
41ASOACADEMY SPORTS & OUTDOORS INCOM0.86%$749,40015.0K
42SNFCASECURITY NATL FINL CORPCL A NEW0.83%$728,00880.8K
43NTRANATERA INCCOM0.83%$725,5283.2K
44PRDOPERDOCEO ED CORPCOM0.83%$723,39524.7K
45MOMOHELLO GROUP INCADS0.82%$715,371109.2K
46AMNAMN HEALTHCARE SVCS INCCOM0.81%$709,20045.0K
47VLGEAVILLAGE SUPER MKT INCCL A NEW0.81%$707,90020.0K
48CALXCALIX INCCOM0.75%$651,72712.3K
49CRICARTERS INCCOM0.74%$648,60020.0K
50MGMISTRAS GROUP INCCOM0.72%$632,50050.0K
51BLMNBLOOMIN BRANDS INCCOM0.71%$617,000100.0K
52SONOSONOS INCCOM0.67%$589,43733.6K
53BACBANK AMERICA CORPCOM0.63%$554,56510.1K
54ANYWHERE REAL ESTATE INCCOM0.58%$508,50035.9K
55MMACYS INCCOM0.58%$503,18122.8K
56MDBMONGODB INCCL A0.56%$491,4571.2K
57CNXNPC CONNECTION INCCOM0.54%$472,5928.2K
58COFCAPITAL ONE FINL CORPCOM0.53%$460,9691.9K
59PPURE STORAGE INCCL A0.51%$448,4986.7K
60INTCINTEL CORPCOM0.51%$441,32412.0K
61RCKYROCKY BRANDS INCCOM0.50%$439,95015.0K
62JEFJEFFERIES FINL GROUP INCCOM0.50%$434,3487.0K
63FROGJFROG LTDORD SHS0.48%$420,8556.7K
64ROKUROKU INCCOM CL A0.47%$410,5263.8K
65SNDSMART SAND INCCOM0.46%$403,956101.0K
66CRMSALESFORCE INCCOM0.46%$401,0741.5K
67ACCOACCO BRANDS CORPCOM0.43%$373,000100.0K
68RIGLRIGEL PHARMACEUTICALS INCCOM0.43%$371,7228.7K
69EMSMART SH GLOBAL LTDADS0.40%$353,204301.9K
70AVGOBROADCOM INCCOM0.39%$342,639990
71EGANEGAIN CORPCOM NEW0.39%$339,28233.0K
72MAPSWM TECHNOLOGY INCCOM0.39%$338,285410.0K
73PBYIPUMA BIOTECHNOLOGY INCCOM0.38%$330,47555.5K
74CCSICONSENSUS CLOUD SOLUTIONS INCOM0.37%$327,30015.0K
75CRCCALIFORNIA RES CORPCOM STOCK0.37%$321,0187.2K
76WBDWARNER BROS DISCOVERY INCCOM SER A0.35%$308,72010.7K
77ASA GOLD AND PRECIOUS MTLS LSHS0.34%$300,6775.0K
78ANETARISTA NETWORKS INCCOM SHS0.34%$294,0312.2K
79PLTRPALANTIR TECHNOLOGIES INCCL A0.33%$284,0451.6K
80CSTLCASTLE BIOSCIENCES INCCOM0.32%$275,6077.1K
81DANDANA INCCOM0.31%$269,24811.3K
82HCIHCI GROUP INCCOM0.30%$263,5741.4K
83NATRNATURES SUNSHINE PRODS INCCOM0.28%$242,14911.2K
84AVTAVNET INCCOM0.28%$240,4005.0K
85HPEHEWLETT PACKARD ENTERPRISE CCOM0.27%$238,2789.9K
86BDTXBLACK DIAMOND THERAPEUTICS ICOM0.27%$233,97596.3K
87JLLJONES LANG LASALLE INCCOM0.27%$232,164690
88LEVILEVI STRAUSS & CO NEWCL A COM STK0.25%$216,69210.4K
89DISDISNEY WALT COCOM0.25%$214,2291.9K
90KEKIMBALL ELECTRONICS INCCOM0.24%$213,8527.7K
91TERTERADYNE INCCOM0.23%$200,5281.0K
92BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW0.23%$200,055398
93YRDYIREN DIGITAL LTDSPONSORED ADS0.22%$194,64252.6K
94FINVFINVOLUTION GROUPSPONSORED ADS0.17%$146,34628.0K
95COMPCOMPASS INCCL A0.16%$144,06913.6K
96GTNGRAY MEDIA INCCOM0.16%$140,40429.0K
97NIONIO INCSPON ADS0.13%$109,39521.4K
98VIOTVIOMI TECHNOLOGY CO LTDSPONSORED ADS0.11%$97,10052.8K
99NRTNORTH EUROPEAN OIL RTY TRSH BEN INT0.11%$94,14714.3K
100XYFX FINLSPONSORED ADS0.09%$81,59814.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$89M179May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$87M104Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2024$75M93Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$87M111Aug 6, 202413F-HRchanges · EDGAR ↗
Q1 2024$92M147May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$49M53Feb 9, 202413F-HRchanges · EDGAR ↗
Q3 2023$65M51Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$64M46Aug 9, 202313F-HRchanges · EDGAR ↗
Q1 2023$50M38May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$99M29Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$69M25Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$106M28Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$122M34May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$148M42Feb 9, 202213F-HRchanges · EDGAR ↗
Q3 2021$138M46Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$51M22Aug 10, 202113F-HRchanges · EDGAR ↗
Q1 2021$314M37May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$265M39Feb 16, 202113F-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 ↗.