In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), 272 Capital LP reported 7 stock positions worth $24.3 million . Its top holding was Applied Digital (APLD) at 67.5% of the portfolio, followed by Sequans Communications S A (SQNS, 23.8% ) and Sprinklr Class A (CXM, 4.9% ). Compared with Q1 2025, it opened 2 new positions, sold out of 26, added to 1 and reduced 2. The biggest buy was Sprinklr Class A (CXM, shares +2% ) and the biggest sale an exit from FIVE9 (FIVN).
Location DALLAS, TX
CIK 0001841077
Portfolio Value $24.3M (Q2 2025) Holdings 7 stocks · $24.3M Holdings quarter Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2025 APLD Applied Digital Corp. 1,631,453 $16.4M No change SQNS Sequans Communications S A 3,932,984 $5.8M No change CXM Sprinklr Inc. Class A 139,657 $1.2M Add +1.7% RSKD Riskified Ltd. Class A 60,750 $303K New TENB Tenable Holdings Inc. 8,434 $285K Reduce -49.5% CDZI Cadiz Inc. 89,936 $269K Reduce -86.9% BITF Bitfarms Ltd./Canada 105,055 $88K New
Other holdings (2): bonds, preferreds, convertibles and warrants · $22K (not counted above) Security Class Shares / Principal Value Change RSVRW Reservoir Media-CW26 *W EXP 08/26/202 15,000 $19K No change MSAIW Sportsmap Tech Acq -CW27 *W EXP 12/19/202 112,500 $3K No change
Total filed on the 13F, all lines: $24.4M.
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ FIVN FIVE9 Inc. Sold out 0.00% −5.74 RPD RAPID7 Inc. Sold out 0.00% −4.55 CDZI Cadiz Inc. Reduce -86.9% 1.10% −4.21 NABL N-Able Inc. Sold out 0.00% −4.07 JAMF Jamf Holding Corp. Sold out 0.00% −3.35 CMRC Commerce.com Inc. Sold out 0.00% −3.31 SIMO Silicon Motion Technol-ADR Sold out 0.00% −3.09 BL Blackline Inc. Sold out 0.00% −2.69 BASE Couchbase Inc. Sold out 0.00% −2.26 COHU Cohu Inc. Sold out 0.00% −1.99 MKSI MKS Inc. Sold out 0.00% −1.90 IAS Integral Ad Science Holding Sold out 0.00% −1.79 BILL Bill Holdings Inc. Sold out 0.00% −1.17 VERX Vertex Inc. Class A Sold out 0.00% −0.95 DH Definitive Healthcare Corp. Sold out 0.00% −0.82 FLYW Flywire Corp.-Voting Sold out 0.00% −0.81 VPG Vishay Precision Group Sold out 0.00% −0.72 ECVT Ecovyst Inc. Sold out 0.00% −0.69 CORZ Core Scientific Inc. Sold out 0.00% −0.58 MXL Maxlinear Inc. Sold out 0.00% −0.57 PAYO Payoneer Global Inc. Sold out 0.00% −0.50 DAVA Endava PLC- Spon ADR Sold out 0.00% −0.50 RPAY Repay Holdings Corp. Sold out 0.00% −0.44 IBP Installed Building Products Sold out 0.00% −0.41 BLD Topbuild Corp. Sold out 0.00% −0.40 SMWB Similarweb Ltd. Sold out 0.00% −0.39 TENB Tenable Holdings Inc. Reduce -49.5% 1.17% −0.37 JELD Jeld-Wen Holding Inc. Sold out 0.00% −0.36
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ CXM Sprinklr Inc. Class A Add +1.7% 4.85% +1.82 RSKD Riskified Ltd. Class A New 1.25% +1.25 BITF Bitfarms Ltd./Canada New 0.36% +0.36
Notes & Other Activity Q1 2025 → Q2 2025 Security Class Change vs Q1 2025 Shares / Principal Value ▼ BTMWQ Bitcoin Depot Inc.-CW23 *W EXP 06/30/202 Sold out 229,041 $15Kbefore exit
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q4 2025 1 $40.0M APLD Q3 2025 3 $39.3M APLD, SQNS, BITF Q2 2025 7 $24.3M APLD, SQNS, CXM, RSKD, TENB Q1 2025 31 $37.8M APLD, SQNS, FIVN, CDZI, RPD Q4 2024 48 $105.8M SQNS, APLD, FIVN, CMRC, CDZI Q3 2024 Amended 61 $175.0M APLD, SEQUANS COMMUNICATIONS S A, CDZI, RPD, FIVN Q2 2024 62 $199.0M VPG, FIVN, CDZI, APLD, RSKD Q1 2024 67 $249.8M VPG, ALTG, RSKD, HBIO, CDZI