POTRERO CAPITAL RESEARCH LLC
Q3 2025 Form 13-F
SAN FRANCISCO, CALIFORNIA
CIK 0001536630
· CRD 125909
· SEC-registered investment adviser
$868.7M Reported Value Total
POTRERO CAPITAL RESEARCH, LLC reports 4 total accounts under management (AUM). There are 4 discretionary accounts valued at $419,641,644, and 0 non-discretionary accounts.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Private funds (Form ADV)
3 funds
· $397.4M gross asset value
Hedge Fund: $397.4M
Source: Form ADV filed 2026-03-27
Reported value
$868.7M
Quarter over quarter
+26.0%
Holdings
37
Top-10 concentration
80.5%
Key People
Form ADV owners & control persons
Jack R Ripsteen
MANAGING MEMBER
Howard Ian Nurtman
CCO
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Q3 2025 13F record
Q3 2025 13F filing summary
| Period of report | September 30, 2025 |
|---|---|
| Filed | November 14, 2025 |
| Form | 13F-HR |
| Reported value | $868.7M |
| Positions | 37 |
| Change in reported value | +110.5% |
| New positions | 19 |
| Exited positions | 6 |
| Position turnover | 58.1% |
| Top-10 concentration | 80.5% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 14, 2026
|
44 | $179.9M |
|
Q1 2026 13F
Filed May 15, 2026
|
31 | $162.9M |
|
Q4 2025 13F
Filed Feb 17, 2026
|
34 | $297.0M |
|
Q3 2025 13F
Filed Nov 14, 2025
|
37 | $868.7M |
|
Q2 2025 13F
Filed Aug 14, 2025
|
24 | $412.8M |
|
Q1 2025 13F
Filed May 15, 2025
|
18 | $203.5M |
|
Q4 2024 13F
Filed Feb 14, 2025
|
25 | $298.7M |
|
Q3 2024 13F
Filed Nov 14, 2024
|
34 | $316.1M |
|
Q2 2024 13F
Filed Aug 14, 2024
|
27 | $234.6M |
|
Q1 2024 13F
Filed May 15, 2024
|
25 | $175.3M |
|
Q4 2023 13F
Filed Feb 14, 2024
|
24 | $188.6M |
|
Q3 2023 13F
Filed Nov 14, 2023
|
23 | $150.9M |
|
Q2 2023 13F
Filed Aug 14, 2023
|
26 | $161.0M |
|
Q1 2023 13F
Filed May 15, 2023
|
25 | $167.7M |
|
Q4 2022 13F
Filed Feb 14, 2023
|
28 | $151.3M |
|
Q3 2022 13F
Filed Nov 14, 2022
|
47 | $146.4M |
|
Q2 2022 13F
Filed Aug 15, 2022
|
52 | $172.0M |
|
Q1 2022 13F
Filed May 16, 2022
|
60 | $298.9M |
|
Q4 2021 13F
Filed Feb 14, 2022
|
70 | $335.1M |
|
Q3 2021 13F
Filed Nov 15, 2021
|
82 | $428.7M |
23 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q3 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | QQQ P INVESCO QQQ TR | $300.2M | 34.55% |
| 2 | SPY P SPDR S&P 500 ETF TR | $199.9M | 23.01% |
| 3 | TLN TALEN ENERGY CORP | $39.8M | 4.58% |
| 4 | TLN P TALEN ENERGY CORP | $39.6M | 4.55% |
| 5 | TAC TRANSALTA CORP | $34.4M | 3.96% |
| 6 | MSFT MICROSOFT CORP | $20.0M | 2.31% |
| 7 | STX SEAGATE TECHNOLOGY HLDNGS PL | $19.4M | 2.23% |
| 8 | IE IVANHOE ELECTRIC INC | $17.4M | 2.0% |
| 9 | DBRG DIGITALBRIDGE GROUP INC | $15.6M | 1.79% |
| 10 | U UNITY SOFTWARE INC | $13.4M | 1.55% |
| 11 | TPB TURNING PT BRANDS INC | $13.0M | 1.5% |
| 12 | AMRZ AMRIZE LTD | $12.4M | 1.42% |
| 13 | YETI YETI HLDGS INC | $12.3M | 1.42% |
| 14 | BSTZ BLACKROCK SCIENCE & TECHNOLO | $12.0M | 1.38% |
| 15 | METC RAMACO RES INC | $11.6M | 1.33% |
| 16 | BILL BILL HOLDINGS INC | $10.6M | 1.22% |
| 17 | SSD SIMPSON MFG INC | $10.0M | 1.16% |
| 18 | GEV GE VERNOVA INC | $9.9M | 1.14% |
| 19 | ROKU ROKU INC | $8.8M | 1.02% |
| 20 | AMBA AMBARELLA INC | $8.7M | 1.0% |
Values as reported on the Q3 2025 Form 13F. Every position is in the holdings table below.