Managers / Q1 2026
FINDELL CAPITAL MANAGEMENT LLC
CIK 0001814465 · 88 PINE STREET, SUITE 2240, NEW YORK, NY, 10005 · 646-907-5217
Summary
Findell Capital Management LLC reported $341M in U.S.-listed holdings across 18 positions for Q1 2026.
The portfolio is heavily concentrated: LQDA alone accounts for 38.7% of reported value.
Compared with Q4 2025, the fund opened 5 new positions and exited 3.
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 · 75.2% · $257M
- Other · 21.3% · $73M
- ADR · 3.4% · $12M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| CVECENOVUS ENERGY INC | NEW | +375.0K | 375.0K | +$10M | $10M |
| ACHCACADIA HEALTHCARE COMPANY IN | NEW | +380.0K | 380.0K | +$9M | $9M |
| VETVERMILION ENERGY INC | NEW | +370.0K | 370.0K | +$5M | $5M |
| APLDAPPLIED DIGITAL CORP | NEW | +170.0K | 170.0K | +$4M | $4M |
| BTUPEABODY ENGR CORP | NEW | +8.4K | 8.4K | +$276,154 | $276,154 |
| MLYSMINERALYS THERAPEUTICS INC | ADDED | +152.0K | 202.0K | +$4M | $5M |
| DAVEDAVE INC | ADDED | +100.0K | 170.0K | +$14M | $30M |
| ABVXABIVAX SA | ADDED | +57.0K | 105.0K | +$5M | $12M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | LQDALIQUIDIA CORPORATIONhistory → | COM NEW | 38.71% | $132M | 3.50M |
| 2 | ESTABLISHMENT LABS HLDGS INC | COM | 16.59% | $57M | 997.7K |
| 3 | DAVEDAVE INChistory → | CLASS A COM NEW | 8.67% | $30M | 170.0K |
| 4 | ROOTROOT INChistory → | CL A NEW | 4.85% | $17M | 375.0K |
| 5 | SUPER GROUP SGHC LIMITED | ORD SHS | 4.74% | $16M | 1.50M |
| 6 | GEGGEO GROUP INChistory → | COM | 4.31% | $15M | 875.0K |
| 7 | OPRTOPORTUN FINL CORPhistory → | COM | 3.71% | $13M | 2.75M |
| 8 | ABVXABIVAX SAhistory → | SPONSORED ADS | 3.42% | $12M | 105.0K |
| 9 | CVECENOVUS ENERGY INChistory → | COM | 2.91% | $10M | 375.0K |
| 10 | ACHCACADIA HEALTHCARE COMPANY INhistory → | COM | 2.60% | $9M | 380.0K |
| 11 | TPBTURNING PT BRANDS INChistory → | COM | 2.41% | $8M | 95.0K |
| 12 | CELHCELSIUS HLDGS INChistory → | COM NEW | 2.08% | $7M | 200.0K |
| 13 | MLYSMINERALYS THERAPEUTICS INChistory → | COM | 1.60% | $5M | 202.0K |
| 14 | VETVERMILION ENERGY INChistory → | COM | 1.49% | $5M | 370.0K |
| 15 | APLDAPPLIED DIGITAL CORPhistory → | COM NEW | 1.18% | $4M | 170.0K |
| 16 | BTUPEABODY ENGR CORP | COM | 0.08% | $276,154 | 8.4K |
| 17 | EHTHEHEALTH INC | COM | 0.07% | $230,945 | 179.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $341M | 18 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $348M | 17 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $253M | 15 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $205M | 12 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $208M | 13 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $244M | 18 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $199M | 21 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $207M | 19 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $191M | 18 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $159M | 18 | Feb 21, 2024 | RESTATEMENT | 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 ↗.