Beartown Capital Management, LLC In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Beartown Capital Management, LLC reported 39 stock positions worth $225.4 million . Its top holding was Terawulf (WULF) at 16.4% of the portfolio, followed by Echostar Class A (ECHO, 9.5% ) and Galaxy Digital Class A (GLXY, 9.1% ). Compared with Q1 2026, it opened 14 new positions, sold out of 4, added to 5 and reduced 7. The biggest buy was Galaxy Digital Class A (GLXY, shares +1400% ) and the biggest sale an exit from Enviri (NVRI).
Location HUNTINGTON WOODS, MI
CIK 0001877162
Portfolio Value $225.4M (Q2 2026) Holdings 39 stocks · $225.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2026 WULF Terawulf Inc. 1,500,000 $37.0M Reduce -4.8% ECHO Echostar Corp. Class A 210,000 $21.3M Add +162.5% GLXY Galaxy Digital Inc. Class A 750,000 $20.5M Add +1400.0% HUT Hut 8 Corp. 170,000 $19.6M Reduce -5.6% CORZ Core Scientific Inc. 750,000 $19.2M Reduce -11.8% CLSK Cleanspark Inc. 750,000 $10.9M Reduce -51.6% PRCH Porch Group Inc. 670,000 $10.1M Add +3.1% VISN Vistance Networks Inc. 750,000 $9.6M Add +87.5% BTDR Bitdeer Technologies Group-A 500,000 $7.9M New ATEX Anterix Inc. 75,000 $7.7M Reduce -25.0% NRGV Energy Vault Holdings Inc. 1,400,000 $6.6M No change IMAX Imax Corp. 110,000 $4.4M New HNRG Hallador Energy Co. 200,000 $3.5M New MNRO Monro Inc. 200,000 $3.4M New ZD Ziff Davis Inc. 65,000 $3.4M New INMD Inmode Ltd. 225,000 $3.3M New CBNA Chain Bridge Bancorp Inc. Class A 75,794 $3.2M No change SHAZ Sharonai Holdings Inc. 37,000 $3.1M New HIVE Hive Digital Technologies LT 800,000 $2.9M New KNOP Knot Offshore Partners LP 282,982 $2.8M Add +80.2% TDS Telephone and Data Systems 75,000 $2.8M No change NBIS Nebius Group NV 10,000 $2.8M Reduce -88.9% FRMI Fermi Inc. 300,000 $2.7M New PRTH Priority Technology Holdings 400,000 $2.7M No change ABVX Abivax SA-ADR 20,000 $2.7M New DDI Doubledown Interactive -ADR 144,637 $1.7M New DGXX Digi Power X Inc. filed as DIGI PWR X INC 300,000 $1.6M New QURE Uniqure NV 35,000 $1.6M New RYAM Rayonier Advanced Materials 200,000 $1.6M No change BVFL BV Financial Inc. filed as BV FINL INC 60,616 $1.3M No change SCOR Comscore Inc. 126,207 $931K No change KELYA Kelly Services Inc. Class A 51,064 $627K New MLKMF Waldencast PLC-A 300,000 $528K No change FSI Flexible Solutions Intl Inc. 74,754 $498K No change LE Lands' End Inc. 46,200 $484K Reduce -7.6% FTEK Fuel Tech Inc. 146,689 $324K No change ONL Orion Properties Inc. 12,899 $37K No change CNTY Century Casinos Inc. 10,000 $13K No change FSP Franklin Street Properties C 19,868 $10K No change
Options reported separately and not counted above: ECHOSTAR CORP calls ($2.0M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $10K (not counted above) Security Class Shares / Principal Value Change AUROW Aurora Innovation Inc. -CW28 *W EXP 11/03/202 30,209 $10K No change
Total filed on the 13F, all lines: $225.4M.
Portfolio Sells Q1 2026 → Q2 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▲ NVRI Enviri Corp. Sold out 0.00% −6.54 NBIS Nebius Group NV Reduce -88.9% 1.23% −6.14 CLSK Cleanspark Inc. Reduce -51.6% 4.84% −5.57 CIFR Cipher Digital Inc. Sold out 0.00% −4.06 CORZ Core Scientific Inc. Reduce -11.8% 8.52% −1.52 WULF Terawulf Inc. Reduce -4.8% 16.44% −1.49 CMTL Comtech Telecommunications Sold out 0.00% −0.66 MAPS WM Technology Inc. Sold out 0.00% −0.30 LE Lands' End Inc. Reduce -7.6% 0.21% −0.23 ATEX Anterix Inc. Reduce -25.0% 3.43% +0.41 HUT Hut 8 Corp. Reduce -5.6% 8.71% +2.05
Portfolio Buys Q1 2026 → Q2 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▼ GLXY Galaxy Digital Inc. Class A Add +1400.0% 9.10% +8.37 BTDR Bitdeer Technologies Group-A New 3.52% +3.52 ECHO Echostar Corp. Class A Add +162.5% 9.46% +2.07 IMAX Imax Corp. New 1.95% +1.95 HNRG Hallador Energy Co. New 1.54% +1.54 MNRO Monro Inc. New 1.52% +1.52 ZD Ziff Davis Inc. New 1.51% +1.51 INMD Inmode Ltd. New 1.46% +1.46 SHAZ Sharonai Holdings Inc. New 1.39% +1.39 HIVE Hive Digital Technologies LT New 1.29% +1.29 FRMI Fermi Inc. New 1.22% +1.22 ABVX Abivax SA-ADR New 1.18% +1.18 PRCH Porch Group Inc. Add +3.1% 4.47% +0.79 DDI Doubledown Interactive -ADR New 0.74% +0.74 DGXX Digi Power X Inc. New 0.73% +0.73 QURE Uniqure NV New 0.72% +0.72 KELYA Kelly Services Inc. Class A New 0.28% +0.28 KNOP Knot Offshore Partners LP Add +80.2% 1.25% +0.00 VISN Vistance Networks Inc. Add +87.5% 4.25% −1.49
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Sold out 30,000 $19.5Mbefore exit CLSK Cleanspark Inc. call Sold out 1,700,000 $14.5Mbefore exit QQQ Invesco QQQ Trust Series 1 put Sold out 20,000 $11.5Mbefore exit CORZ Core Scientific Inc. call Sold out 600,000 $9.0Mbefore exit BTDR Bitdeer Technologies Group-A call Sold out 1,000,000 $8.7Mbefore exit WULF Terawulf Inc. call Sold out 500,000 $7.2Mbefore exit NBIS Nebius Group NV call Sold out 30,000 $3.1Mbefore exit BWA Borgwarner Inc. call Sold out 50,000 $2.7Mbefore exit ECHO Echostar Corp. Class A call Sold out 20,000 $2.3Mbefore exit ECHOSTAR CORP call New 20,000 $2.0M KNOP Knot Offshore Partners LP call Sold out 125,900 $1.3Mbefore exit HUT Hut 8 Corp. call Sold out 25,000 $1.2Mbefore exit GLXY Galaxy Digital Inc. Class A call Sold out 50,000 $923Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 39 $225.4M WULF, ECHO, GLXY, HUT, CORZ Q1 2026 29 $126.7M WULF, CLSK, CORZ, ECHO, NBIS Q4 2025 38 $127.9M WULF, ECHO, HUT, CORZ, NBIS