BlackBarn Capital Partners LP In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), BlackBarn Capital Partners LP reported 18 stock positions worth $292.8 million . Its top holding was Roivant Sciences (ROIV) at 16.4% of the portfolio, followed by Unitedhealth (UNH, 11.8% ) and Molina Healthcare (MOH, 10.7% ). Compared with Q4 2024, it opened 5 new positions, sold out of 2, added to 6 and reduced 2. The biggest buy was Axcelis Technologies (ACLS, shares +758% ) and the biggest sale an exit from Civitas Resources (CIVI).
Location NEW YORK, NY
CIK 0002010204
Portfolio Value $292.8M (Q1 2025) Holdings 18 stocks · $292.8M Holdings quarter Q2 2026 Q1 2026 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 Q4 2024 ROIV Roivant Sciences Ltd. 4,750,000 $47.9M Add +15.2% UNH Unitedhealth Group Inc. 66,000 $34.6M Add +10.0% MOH Molina Healthcare Inc. 95,500 $31.5M Reduce -1.6% AMRX Amneal Pharmaceuticals Inc. 2,881,654 $24.1M Add +1.1% ACLS Axcelis Technologies Inc. 480,441 $23.9M Add +758.0% PRVA Privia Health Group Inc. 750,000 $16.8M Add +13.1% TEVA Teva Pharmaceutical-SP ADR 1,050,000 $16.1M No change NXT Nextpower Inc. filed as NEXTRACKER INC 360,000 $15.2M New DHC Diversified Healthcare Trust 6,250,000 $15.0M No change BRBS Blue Ridge Bankshares Inc. 4,316,706 $14.1M Reduce -1.1% CCOI Cogent Communications Holdin 190,000 $11.6M New ABUS Arbutus Biopharma Corp. 2,341,871 $8.2M No change EGBN Eagle Bancorp Inc. 380,000 $8.0M New BVFL BV Financial Inc. filed as BV FINL INC 480,000 $7.3M No change RH RH 30,000 $7.0M New FBLA FB Bancorp Inc. 604,700 $6.8M Add +51.2% HBNC Horizon Bancorp Inc. 300,000 $4.5M New MODVQ Modivcare Inc. 100,577 $132K No change
Options reported separately and not counted above: SPY puts ($699.2M), HYG puts ($433.9M), TSLA puts ($129.6M), WBA puts ($16.8M).
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ CIVI Civitas Resources Inc. Sold out 0.00% −6.86 CHRD Chord Energy Corp. Sold out 0.00% −6.44 BRBS Blue Ridge Bankshares Inc. Reduce -1.1% 4.81% −0.73 MOH Molina Healthcare Inc. Reduce -1.6% 10.74% −0.37
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ ACLS Axcelis Technologies Inc. Add +758.0% 8.15% +6.61 NXT Nextpower Inc. New 5.18% +5.18 CCOI Cogent Communications Holdin New 3.98% +3.98 EGBN Eagle Bancorp Inc. New 2.73% +2.73 RH RH New 2.40% +2.40 HBNC Horizon Bancorp Inc. New 1.54% +1.54 PRVA Privia Health Group Inc. Add +13.1% 5.75% +0.65 FBLA FB Bancorp Inc. Add +51.2% 2.33% +0.45 UNH Unitedhealth Group Inc. Add +10.0% 11.81% −0.14 AMRX Amneal Pharmaceuticals Inc. Add +1.1% 8.25% −0.64 ROIV Roivant Sciences Ltd. Add +15.2% 16.37% −2.84
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Reduce -50.0% 1,250,000 $699.2M HYG Ishr Ibx Usd Hiyld CB ETF-Ui put New 5,500,000 $433.9M TSLA Tesla Inc. put Add +100.0% 500,000 $129.6M WBA Walgreens Boots Alliance Inc. put New 1,500,000 $16.8M
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 17 $402.2M ROIV, PRVA, DHC, NEE, NIQ Q1 2026 14 $332.4M ROIV, VECO, PRVA, DHC, NEE Q4 2025 11 $278.9M ROIV, DHC, PRVA, NIQ, NEE Q3 2025 15 $306.4M ROIV, PRVA, DHC, NXT, AMRX Q2 2025 20 $301.8M ROIV, AMRX, ACLS, DHC, MOH Q1 2025 18 $292.8M ROIV, UNH, MOH, AMRX, ACLS Q4 2024 15 $254.1M ROIV, UNH, MOH, TEVA, AMRX Q3 2024 18 $230.1M ROIV, MOH, AMRX, DHC, T Q2 2024 17 $194.0M ROIV, UNH, MOH, AMRX, BRBS Q1 2024 21 $173.0M ROIV, MOH, UNH, CHRD, CF