140 Summer Partners LP

Name: 140 Summer Partners LP 13F holdings, Q1 2025
Creator: 140 Summer Partners LP
Published: 2025-05-15

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), 140 Summer Partners LP reported 14 stock positions worth $740.5 million. Its top holding was Progressive (PGR) at 13.5% of the portfolio, followed by Aercap (AER, 12.4%) and Unitedhealth (UNH, 10.7%). Compared with Q4 2024, it opened 5 new positions, sold out of 6, added to 3 and reduced 6. The biggest buy was a new position in Unitedhealth (UNH) and the biggest sale an exit from Delta Air Lines (DAL).

Most Recent 13F: Q2 2026
Location: New York, NY
CIK: 0001820788
Portfolio Value: $740.5M (Q1 2025)
SEC Filing: 0000919574-25-003067 ↗ filed May 15, 2025

Holdings Value

Holdings 14 stocks · $740.5M


PGR Progressive Corp.	13.48%	352,833	$99.9M	Reduce -13.0%
AER Aercap Holdings NV	12.39%	898,001	$91.7M	Add +4.2%
UNH Unitedhealth Group Inc.	10.75%	151,935	$79.6M	New
TMUS T-Mobile US Inc.	8.59%	238,639	$63.6M	Reduce -28.4%
VST Vistra Corp.	7.68%	484,298	$56.9M	New
SGI Somnigroup International Inc.	7.26%	898,350	$53.8M	Add +11.3%
COOP Mr Cooper Group Inc.	6.69%	414,006	$49.5M	Reduce -43.2%
OC Owens Corning	6.33%	328,166	$46.9M	New
COF Capital One Financial Corp.	6.23%	257,514	$46.2M	Reduce -35.5%
CRH CRH PLC	5.65%	475,417	$41.8M	Reduce -18.8%
BOH Bank of Hawaii Corp. filed as BANK HAWAII CORP	5.62%	603,645	$41.6M	New
VIK Viking Holdings Ltd.	5.52%	1,027,577	$40.8M	Add +13.8%
TDS Telephone and Data Systems	2.86%	547,649	$21.2M	New
OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC	0.94%	2,622,550	$7.0M	Reduce -19.9%

Options reported separately and not counted above: RUN puts ($13.1M), HE puts ($6.5M), NFE puts ($2.0M).

Other holdings (2): bonds, preferreds, convertibles and warrants · $7.2M (not counted above)

Security	Class	Shares / Principal	Value	Change
SUNNOVA ENERGY INTL INC (NOVA 0.25 12/01/26)	NOTE 0.250%12/0 · principal	61,655,000	$5.5M	Reduce -17.4%
SUNNOVA ENERGY INTL INC (NOVA 2.625 02/15/28)	NOTE 2.625% 2/1 · principal	21,582,000	$1.7M	New

Total filed on the 13F, all lines: $747.8M.

Portfolio Sells Q4 2024 → Q1 2025


DAL Delta Air Lines Inc.	Sold out	0.00%	−8.70
TOL Toll Brothers Inc.	Sold out	0.00%	−6.06
CZR Caesars Entertainment Inc.	Sold out	0.00%	−5.86
ELV Elevance Health Inc.	Sold out	0.00%	−4.35
COF Capital One Financial Corp.	Reduce -35.5%	6.23%	−3.06
NBIS Nebius Group NV	Sold out	0.00%	−2.95
COOP Mr Cooper Group Inc.	Reduce -43.2%	6.69%	−2.45
CRH CRH PLC	Reduce -18.8%	5.65%	−1.43
WAL Western Alliance Bancorp	Sold out	0.00%	−1.31
TMUS T-Mobile US Inc.	Reduce -28.4%	8.59%	−1.01
OPTU Optimum Communications Inc. Class A	Reduce -19.9%	0.94%	−0.09
PGR Progressive Corp.	Reduce -13.0%	13.48%	+0.79

Portfolio Buys Q4 2024 → Q1 2025


UNH Unitedhealth Group Inc.	New	10.75%	+10.75
VST Vistra Corp.	New	7.68%	+7.68
OC Owens Corning	New	6.33%	+6.33
BOH Bank of Hawaii Corp.	New	5.62%	+5.62
TDS Telephone and Data Systems	New	2.86%	+2.86
AER Aercap Holdings NV	Add +4.2%	12.39%	+1.62
SGI Somnigroup International Inc.	Add +11.3%	7.26%	+1.29
VIK Viking Holdings Ltd.	Add +13.8%	5.52%	+0.32

Options Activity Q4 2024 → Q1 2025


RUN Sunrun Inc.	put	New	2,232,000	$13.1M
NFE New Fortress Energy Inc.	put	New	244,600	$2.0M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q4 2024 → Q1 2025


ECHOSTAR CORP (ECHO 3.875 11/30/30)	NOTE 3.875%11/3 · principal	Sold out	19,153,727	$20.2Mbefore exit
SUNNOVA ENERGY INTL INC (NOVA 0.25 12/01/26)	NOTE 0.250%12/0 · principal	Reduce -17.4%	61,655,000	$5.5M
SUNNOVA ENERGY INTL INC (NOVA 2.625 02/15/28)	NOTE 2.625% 2/1 · principal	New	21,582,000	$1.7M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	20	$1.2B	VSAT, MTZ, KGS, GLPI, SGI
Q1 2026	20	$1.1B	MTZ, PCG, VIK, GLPI, TMUS
Q4 2025	19	$1.3B	COF, ECHO, PFSI, WBS, AER
Q3 2025	19	$1.1B	COF, MTZ, CRH, AER, WBS
Q2 2025	13	$772.8M	COF, AER, COOP, PGR, VST
Q1 2025	14	$740.5M	PGR, AER, UNH, TMUS, VST
Q4 2024	15	$765.8M	PGR, AER, TMUS, COF, COOP
Q3 2024	15	$753.8M	AER, PGR, WAL, TMUS, CZR
Q2 2024	13	$726.0M	PGR, AER, CZR, WAL, TMUS
Q1 2024	13	$711.8M	AER, PGR, WAL, CZR, TMUS