Altai Capital Management, L.P.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Altai Capital Management, L.P. reported 4 stock positions worth $39.5 million. Its top holding was Digimarc (DMRC) at 46.0% of the portfolio, followed by Orasure Technologies (OSUR, 22.9%) and SKY Harbour (SKYH, 16.4%). Compared with Q3 2025, it reduced 1. The biggest sale was Orasure Technologies (OSUR, shares −0%).

Most Recent 13F
Q2 2026
Location
IRVINE, CA
CIK
0001478982
Portfolio Value
$39.5M (Q4 2025)
SEC Filing
0001478982-26-000002 ↗ filed Feb 17, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $209.7M Q1 2024 Q2 2024: $118.7M Q2 2024 Q3 2024: $107.8M Q3 2024 Q4 2024: $129.4M Q4 2024 Q1 2025: $57.7M Q1 2025 Q2 2025: $55.1M Q2 2025 Q3 2025: $50.8M Q3 2025 Q4 2025: $39.5M $39.5M Q4 2025 Q1 2026: $34.9M Q1 2026 Q2 2026: $49.0M Q2 2026

Holdings 4 stocks · $39.5M
DMRC Digimarc Corp. 46.03% 2,769,346 $18.2M No change
OSUR Orasure Technologies Inc. 22.94% 3,740,836 $9.1M Reduce -0.2%
SKYH SKY Harbour Group Corp. 16.37% 720,298 $6.5M No change
YTRA Yatra Online Inc. 14.67% 3,252,708 $5.8M No change

Options reported separately and not counted above: SKYH.WS calls ($85K).

Portfolio Sells Q3 2025 → Q4 2025
OSUR Orasure Technologies Inc. Reduce -0.2% 22.94% −0.77

Portfolio Buys Q3 2025 → Q4 2025
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 4$49.0MDMRC, OSUR, SKYH, YTRA
Q1 2026 4$34.9MDMRC, OSUR, SKYH, YTRA
Q4 2025 4$39.5MDMRC, OSUR, SKYH, YTRA
Q3 2025 4$50.8MDMRC, OSUR, SKYH, YTRA
Q2 2025 5$55.1MDMRC, SKYH, OSUR, YTRA, ETWO
Q1 2025 5$57.7MDMRC, SKYH, ETWO, YTRA, OSUR
Q4 2024 4$129.4MDMRC, ETWO, SKYH, YTRA
Q3 2024 4$107.8MDMRC, ETWO, SKYH, YTRA
Q2 2024 4$118.7MDMRC, ETWO, SKYH, YTRA
Q1 2024 5$209.7MSKYH, DMRC, YTRA, ETWO, OSPN