14B Captial Management LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), 14B Captial Management LP reported 18 stock positions worth $124.4 million. Its top holding was Mastercard Class A (MA) at 19.5% of the portfolio, followed by Visa Class A (V, 19.5%) and SHIFT4 Payments Class A (FOUR, 19.5%). Compared with Q3 2025, it opened 9 new positions, sold out of 1 and reduced 9. The biggest buy was a new position in Meta Platforms Class A (META) and the biggest sale Charter Communications Class A (CHTR, shares −69%).
- Most Recent 13F
- Q4 2025
- Location
- LA JOLLA, CA
- CIK
- 0002009911
- Portfolio Value
- $124.4M (Q4 2025)
- SEC Filing
- 0002009911-26-000002 ↗ filed Feb 17, 2026
Holdings Value
Holdings 18 stocks · $124.4M
| MA Mastercard Inc. Class A | 19.53% | 42,560 | $24.3M | Reduce -1.0% |
| V Visa Inc. Class A | 19.53% | 69,268 | $24.3M | Reduce -1.1% |
| FOUR SHIFT4 Payments Inc. Class A | 19.49% | 385,000 | $24.2M | Reduce -3.0% |
| STNE Stoneco Ltd. Class A | 7.24% | 609,000 | $9.0M | Reduce -34.6% |
| PAGS Pagseguro Digital Ltd. Class A | 5.64% | 728,000 | $7.0M | Reduce -43.8% |
| META Meta Platforms Inc. Class A | 4.99% | 9,400 | $6.2M | New |
| CHTR Charter Communications Inc. Class A | 3.94% | 23,500 | $4.9M | Reduce -68.7% |
| COF Capital One Financial Corp. | 3.90% | 20,000 | $4.8M | Reduce -39.4% |
| CIB Grupo Cibest SA-ADR | 3.58% | 70,000 | $4.5M | Reduce -37.5% |
| MELI MercadoLibre Inc. | 3.03% | 1,870 | $3.8M | New |
| CCOI Cogent Communications Holdin | 2.95% | 170,000 | $3.7M | Reduce -62.2% |
| RSP Invesco S&P 500 Equal Weight | 1.85% | 12,000 | $2.3M | New |
| AMZN Amazon.com Inc. | 1.11% | 6,000 | $1.4M | New |
| VXUS Vanguard Total Intl Stock | 0.85% | 14,000 | $1.1M | New |
| MSFT Microsoft Corp. | 0.78% | 2,000 | $967K | New |
| VEA Vanguard Ftse Developed ETF | 0.70% | 14,000 | $875K | New |
| GOOGL Alphabet Inc. Class A | 0.50% | 2,000 | $626K | New |
| VTI VG Morningstar TS MKT ETF-US | 0.40% | 1,500 | $503K | New |
Portfolio Sells Q3 2025 → Q4 2025
| CHTR Charter Communications Inc. Class A | Reduce -68.7% | 3.94% | −8.13 |
| CCOI Cogent Communications Holdin | Reduce -62.2% | 2.95% | −7.14 |
| CABO Cable One Inc. | Sold out | 0.00% | −6.16 |
| STNE Stoneco Ltd. Class A | Reduce -34.6% | 7.24% | −3.06 |
| PAGS Pagseguro Digital Ltd. Class A | Reduce -43.8% | 5.64% | −1.94 |
| COF Capital One Financial Corp. | Reduce -39.4% | 3.90% | −0.21 |
| CIB Grupo Cibest SA-ADR | Reduce -37.5% | 3.58% | +0.17 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -3.0% | 19.49% | +1.50 |
| MA Mastercard Inc. Class A | Reduce -1.0% | 19.53% | +5.22 |
| V Visa Inc. Class A | Reduce -1.1% | 19.53% | +5.54 |
Portfolio Buys Q3 2025 → Q4 2025
| META Meta Platforms Inc. Class A | New | 4.99% | +4.99 |
| MELI MercadoLibre Inc. | New | 3.03% | +3.03 |
| RSP Invesco S&P 500 Equal Weight | New | 1.85% | +1.85 |
| AMZN Amazon.com Inc. | New | 1.11% | +1.11 |
| VXUS Vanguard Total Intl Stock | New | 0.85% | +0.85 |
| MSFT Microsoft Corp. | New | 0.78% | +0.78 |
| VEA Vanguard Ftse Developed ETF | New | 0.70% | +0.70 |
| GOOGL Alphabet Inc. Class A | New | 0.50% | +0.50 |
| VTI VG Morningstar TS MKT ETF-US | New | 0.40% | +0.40 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q4 2025 | 18 | $124.4M | MA, V, FOUR, STNE, PAGS |
| Q3 2025 | 10 | $170.9M | FOUR, MA, V, CHTR, STNE |
| Q2 2025 | 11 | $243.4M | FOUR, MA, V, CCOI, CHTR |
| Q1 2025 | 12 | $240.1M | FOUR, MA, V, CCOI, PINS |
| Q4 2024 | 10 | $229.8M | FOUR, MA, V, PINS, CCOI |
| Q3 2024 | 10 | $223.1M | FOUR, MA, V, DFS, CCOI |
| Q2 2024 | 10 | $214.0M | FOUR, MA, V, META, DFS |
| Q1 2024 | 10 | $211.9M | MA, V, FOUR, META, PAGS |