Tejara Capital Ltd's Q4 2025 13F: 27 new positions, 12 exits
Form 13F-HR for the quarter ended Dec 31, 2025 · filed Feb 5, 2026 · 61 reported positions · accession 0001214659-26-001213
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | ARCUTIS BIOTHERAPEUTICS INC (ARQT) | 5.4% | — | −5.4 pts | −521K sh | −100% |
| Exited | ROIVANT SCIENCES LTD (ROIV) | 4.2% | — | −4.2 pts | −506K sh | −100% |
| New | DNOW INC (DNOW) | — | 3.8% | +3.8 pts | +686K sh | new |
| Increased | TELEFLEX INCORPORATED (TFX) | 0.5% | 3.9% | +3.4 pts | +69,700 sh | +871% |
| Exited | VALARIS LTD (VAL) | 3.0% | — | −3.0 pts | −110K sh | −100% |
| Increased | GOLAR LNG LTD (GLNG) | 4.4% | 5.7% | +1.4 pts | +173K sh | +88% |
| Increased | SEADRILL LTD (SDRL) | 3.0% | 5.3% | +2.3 pts | +185K sh | +101% |
| Reduced | NOV INC (NOV) | 4.9% | 1.9% | −2.9 pts | −374K sh | −56% |
| New | EVOLENT HEALTH INC (EVH) | — | 2.2% | +2.2 pts | +1.33M sh | new |
| Exited | REKOR SYSTEMS INC (REKR) | 2.2% | — | −2.2 pts | −2.55M sh | −100% |
| Reduced | FORUM ENERGY TECHNOLOGIES (FET) | 2.3% | 0.5% | −1.9 pts | −129K sh | −81% |
| Increased | SCORPIO TANKERS INC (STNG) | 0.6% | 2.3% | +1.7 pts | +90,738 sh | +454% |
| Exited | HALLIBURTON CO (HAL) | 1.8% | — | −1.8 pts | −134K sh | −100% |
| Exited | NEXGEN ENERGY LTD (NXE) | 1.7% | — | −1.7 pts | −345K sh | −100% |
| New | OVINTIV INC (OVV) | — | 1.7% | +1.7 pts | +102K sh | new |
| New | GEO GROUP INC NEW (GEO) | — | 1.6% | +1.6 pts | +233K sh | new |
| Exited | TRANSOCEAN LTD (RIG) | 1.5% | — | −1.5 pts | −889K sh | −100% |
| New | UNITEDHEALTH GROUP INC (UNH) | — | 1.5% | +1.5 pts | +10,680 sh | new |
| Increased | ANTERO RESOURCES CORP (AR) | 0.7% | 2.0% | +1.3 pts | +100K sh | +252% |
| New | MANPOWERGROUP INC WIS (MAN) | — | 1.3% | +1.3 pts | +104K sh | new |
| Reduced | CORE NATURAL RESOURCES INC (CNR) | 5.8% | 3.4% | −2.4 pts | −34,706 sh | −27% |
| Increased | QUIDELORTHO CORP (QDEL) | 1.7% | 2.5% | +0.8 pts | +103K sh | +97% |
| New | TALOS ENERGY INC (TALO) | — | 1.2% | +1.2 pts | +264K sh | new |
| New | MOHAWK INDS INC (MHK) | — | 1.0% | +1.0 pts | +23,000 sh | new |
| Reduced | BORR DRILLING LTD (BORR) | 2.2% | 1.6% | −0.7 pts | −592K sh | −39% |
| Increased | CARDIOL THERAPEUTICS INC (CRDL) | 1.5% | 2.0% | +0.5 pts | +2.5M sh | +95% |
| Reduced | NABORS INDUSTRIES LTD (NBR) | 1.5% | 0.6% | −0.9 pts | −40,388 sh | −60% |
| New | STRATASYS LTD (SSYS) | — | 0.9% | +0.9 pts | +250K sh | new |
| Increased | VIATRIS INC (VTRS) | 2.3% | 3.1% | +0.8 pts | +171K sh | +40% |
| Increased | PATTERSON-UTI ENERGY INC (PTEN) | 1.6% | 2.3% | +0.7 pts | +336K sh | +60% |
| Increased | NOBLE CORP PLC (NE) | 4.3% | 4.1% | −0.2 pts | +72,500 sh | +26% |
| Exited | ZYMEWORKS INC (ZYME) | 0.8% | — | −0.8 pts | −85,163 sh | −100% |
| Increased | MARAVAI LIFESCIENCES HLDGS (MRVI) | 3.9% | 4.1% | +0.2 pts | +567K sh | +23% |
| Exited | SCPHARMACEUTICALS INC (SCPH) | 0.8% | — | −0.8 pts | −245K sh | −100% |
| Increased | ALIGHT INC (ALIT) | 0.8% | 1.1% | +0.3 pts | +924K sh | +208% |
| New | FIDELITY NATL INFORMATION (FIS) | — | 0.7% | +0.7 pts | +25,111 sh | new |
| Increased | ESTABLISHMENT LABS HLDGS (ESTA) | 2.3% | 3.8% | +1.5 pts | +22,800 sh | +22% |
| New | GARTNER INC (IT) | — | 0.7% | +0.7 pts | +6,400 sh | new |
| New | RENEW ENERGY GLOBAL PLC (RNW) | — | 0.6% | +0.6 pts | +275K sh | new |
| New | CHEMOURS CO (CC) | — | 0.6% | +0.6 pts | +125K sh | new |
| New | LYONDELLBASELL INDUSTRIES N (LYB) | — | 0.6% | +0.6 pts | +32,900 sh | new |
| New | COSAN S A (CSAN) | — | 0.6% | +0.6 pts | +351K sh | new |
| New | BOSTON BEER INC (SAM) | — | 0.6% | +0.6 pts | +6,900 sh | new |
| New | SHIFT4 PMTS INC (FOUR) | — | 0.6% | +0.6 pts | +21,200 sh | new |
| Increased | SLB LIMITED (SLB) | 2.6% | 2.8% | +0.2 pts | +34,700 sh | +25% |
| Increased | TIDEWATER INC NEW (TDW) | 0.6% | 0.9% | +0.4 pts | +25,000 sh | +128% |
| New | ROBERT HALF INC. (RHI) | — | 0.5% | +0.5 pts | +45,700 sh | new |
| Increased | EXPAND ENERGY CORPORATION (EXE) | 1.2% | 1.4% | +0.2 pts | +10,800 sh | +53% |
| New | TELADOC HEALTH INC (TDOC) | — | 0.5% | +0.5 pts | +159K sh | new |
| New | TRINET GROUP INC (TNET) | — | 0.4% | +0.4 pts | +18,000 sh | new |
The 50 largest of 70 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:
- DIVERSIFIED ENERGY CO (DEC): G2891G204 → 25520W107, 1.95M → 2.01M shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 49.2% of the equity book
Changes in the top 10 this quarter: TFX entered · ESTA entered · DNOW entered · VTRS entered · ARQT left · NOV left · ROIV left · HRTX left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | DIVERSIFIED ENERGY CO (DEC) | 15.0% | 12.1% | |
| 2 | GOLAR LNG LTD (GLNG) | 4.4% | 5.7% | |
| 3 | SEADRILL LTD (SDRL) | 3.0% | 5.3% | |
| 4 | NOBLE CORP PLC (NE) | 4.3% | 4.1% | |
| 5 | MARAVAI LIFESCIENCES HLDGS (MRVI) | 3.9% | 4.1% | |
| 6 | TELEFLEX INCORPORATED (TFX) | 0.5% | 3.9% | Entered the top 10 |
| 7 | ESTABLISHMENT LABS HLDGS (ESTA) | 2.3% | 3.8% | Entered the top 10 |
| 8 | DNOW INC (DNOW) | 0.0% | 3.8% | Entered the top 10 |
| 9 | CORE NATURAL RESOURCES INC (CNR) | 5.8% | 3.4% | |
| 10 | VIATRIS INC (VTRS) | 2.3% | 3.1% | Entered the top 10 |
| — | ARCUTIS BIOTHERAPEUTICS INC (ARQT) | 5.4% | 0.0% | Left the top 10 |
| — | NOV INC (NOV) | 4.9% | 1.9% | Left the top 10 |
| — | ROIVANT SCIENCES LTD (ROIV) | 4.2% | 0.0% | Left the top 10 |
| — | HERON THERAPEUTICS INC (HRTX) | 3.2% | 2.8% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| New | INVESCO QQQ TR (QQQ) | Put | 0 | 300K | $184M |
| Exited | NVIDIA CORPORATION (NVDA) | Put | 50,000 | 0 | $0 |