Managers / Q4 2025 · view latest →
CoinFund Management LLC
CIK 0002087493 · 287 PARK AVENUE SOUTH, SUITE 520, NEW YORK, NY, 10010 · 646-934-6177
Summary
Coinfund Management LLC reported $58M in U.S.-listed holdings across 16 positions for Q4 2025.
The portfolio is heavily concentrated: ORBS alone accounts for 50.9% of reported value.
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, 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
Portfolio Composition
- Common Stock · 78.5% · $46M
- Other · 19.2% · $11M
- ETP · 2.2% · $1M
- Equity WRT · 0.0% · $27,475
Quarter-over-Quarter Changes full breakdown →
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ORBSEIGHTCO HOLDINGS INC | NEW | +17.12M | 17.12M | +$30M | $30M |
| BMNRBITMINE IMMERSION TECNOLOGIE | NEW | +476.7K | 476.7K | +$13M | $13M |
| MOUNTAIN LAKE ACQUISITION CO | NEW | +461.0K | 461.0K | +$5M | $5M |
| HSDTSOLANA CO | NEW | +726.6K | 726.6K | +$2M | $2M |
| DYNAMIX CORP | NEW | +166.0K | 166.0K | +$2M | $2M |
| AVAX ONE TECHNOLOGY LTD | NEW | +1.06M | 1.06M | +$2M | $2M |
| IBITISHARES BITCOIN TRUST ETF | NEW | +26.3K | 26.3K | +$1M | $1M |
| MOUNTAIN LAKE ACQUISITION CO | NEW | +105.0K | 105.0K | +$1M | $1M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ORBSEIGHTCO HOLDINGS INChistory → | COM | 50.95% | $30M | 17.12M |
| 2 | BMNRBITMINE IMMERSION TECNOLOGIEhistory → | COM NEW | 22.26% | $13M | 476.7K |
| 3 | MOUNTAIN LAKE ACQUISITION CO | SHS CL A · UNIT 11/15/2028 | 10.16% | $6M | 566.0K |
| 4 | HSDTSOLANA COhistory → | COM CL A NEW | 3.61% | $2M | 726.6K |
| 5 | DYNAMIX CORP | SHS CL A | 2.94% | $2M | 166.0K |
| 6 | AVAX ONE TECHNOLOGY LTD | COM SHS | 2.75% | $2M | 1.06M |
| 7 | IBITISHARES BITCOIN TRUST ETFhistory → | SHS BEN INT | 2.24% | $1M | 26.3K |
| 8 | OCEANPAL INC | COM NEW | 1.64% | $952,942 | 882.4K |
| 9 | FUTURECREST ACQUISITION CORP | *W EXP 09/30/203 · CL A ORD SHS | 1.22% | $707,000 | 475.0K |
| 10 | BKKTBAKKT HOLDINGS INC | COM CL A NEW | 0.95% | $554,760 | 55.3K |
| 11 | SHARPS TECHNOLOGY INC | COM | 0.75% | $437,232 | 215.4K |
| 12 | GREENLANE HLDGS INC | CL A NEW | 0.46% | $266,435 | 169.7K |
| 13 | BNCWWCEA INDUSTRIES INC | *W EXP 02/11/202 | 0.05% | $27,475 | 495.0K |
| 14 | HERITAGE DISTILLING HLDG CO | COM | 0.02% | $13,552 | 8.7K |
Filing History
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 ↗.