14B Captial Management LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), 14B Captial Management LP reported 11 stock positions worth $243.4 million. Its top holding was SHIFT4 Payments Class A (FOUR) at 20.2% of the portfolio, followed by Mastercard Class A (MA, 12.2%) and Visa Class A (V, 10.9%). Compared with Q1 2025, it opened 3 new positions, sold out of 4, added to 3 and reduced 5. The biggest buy was a new position in Charter Communications Class A (CHTR) and the biggest sale an exit from Pinterest Class A (PINS).
- Most Recent 13F
- Q4 2025
- Location
- LA JOLLA, CA
- CIK
- 0002009911
- Portfolio Value
- $243.4M (Q2 2025)
- SEC Filing
- 0002009911-25-000006 ↗ filed Aug 14, 2025
Holdings Value
Holdings 11 stocks · $243.4M
| FOUR SHIFT4 Payments Inc. Class A | 20.24% | 497,000 | $49.3M | Reduce -5.3% |
| MA Mastercard Inc. Class A | 12.24% | 53,000 | $29.8M | Reduce -8.6% |
| V Visa Inc. Class A | 10.94% | 75,000 | $26.6M | Reduce -9.6% |
| CCOI Cogent Communications Holdin | 9.98% | 504,000 | $24.3M | Add +12.5% |
| CHTR Charter Communications Inc. Class A | 9.58% | 57,000 | $23.3M | New |
| COF Capital One Financial Corp. | 9.18% | 105,000 | $22.3M | New |
| STNE Stoneco Ltd. Class A | 7.82% | 1,187,000 | $19.0M | Reduce -8.6% |
| CIB Grupo Cibest SA-ADR | 7.17% | 378,000 | $17.5M | Add +1.9% |
| PAGS Pagseguro Digital Ltd. Class A | 5.19% | 1,310,000 | $12.6M | Reduce -4.7% |
| BABA Alibaba Group Holding-SP ADR | 3.91% | 84,000 | $9.5M | Add +12.0% |
| CABO Cable One Inc. | 3.74% | 67,000 | $9.1M | New |
Portfolio Sells Q1 2025 → Q2 2025
| PINS Pinterest Inc. Class A | Sold out | 0.00% | −9.63 |
| DFS Discover Financial Services | Sold out | 0.00% | −8.96 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −3.94 |
| PDD PDD Holdings Inc. | Sold out | 0.00% | −2.42 |
| V Visa Inc. Class A | Reduce -9.6% | 10.94% | −1.17 |
| MA Mastercard Inc. Class A | Reduce -8.6% | 12.24% | −1.00 |
| PAGS Pagseguro Digital Ltd. Class A | Reduce -4.7% | 5.19% | +0.82 |
| STNE Stoneco Ltd. Class A | Reduce -8.6% | 7.82% | +2.15 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -5.3% | 20.24% | +2.37 |
Portfolio Buys Q1 2025 → Q2 2025
| CHTR Charter Communications Inc. Class A | New | 9.58% | +9.58 |
| COF Capital One Financial Corp. | New | 9.18% | +9.18 |
| CABO Cable One Inc. | New | 3.74% | +3.74 |
| CIB Grupo Cibest SA-ADR | Add +1.9% | 7.17% | +0.96 |
| BABA Alibaba Group Holding-SP ADR | Add +12.0% | 3.91% | −0.22 |
| CCOI Cogent Communications Holdin | Add +12.5% | 9.98% | −1.46 |
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 |