Bleichroeder LP

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Bleichroeder LP reported 72 stock positions worth $374.3 million. Its top holding was SPDR Gold Shares (GLD) at 36.6% of the portfolio, followed by Gpgi (GPGI, 11.3%) and Linde (LIN, 10.5%). Compared with Q4 2024, it opened 9 new positions, sold out of 5, added to 8 and reduced 3. The biggest buy was a new position in Resolute Holdings Manag (RHLD) and the biggest sale an exit from Paragon 28 (FNA).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001781002
Portfolio Value
$374.3M (Q1 2025)
SEC Filing
0001420506-25-001141 ↗ filed May 15, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $400.5M Q1 2024 Q2 2024: $335.9M Q2 2024 Q3 2024: $370.9M Q3 2024 Q4 2024: $396.9M Q4 2024 Q1 2025: $374.3M $374.3M Q1 2025 Q2 2025: $405.0M Q2 2025 Q3 2025: $510.9M Q3 2025 Q4 2025: $567.6M Q4 2025 Q1 2026: $578.0M Q1 2026 Q2 2026: $556.8M Q2 2026

Holdings 72 stocks · $374.3M
GLD SPDR Gold Shares 36.57% 475,000 $136.9M No change
GPGI Gpgi Inc. filed as COMPOSECURE INC 11.35% 3,906,966 $42.5M Add +1.3%
LIN Linde PLC 10.48% 84,214 $39.2M No change
IVAC Intevac Inc. 5.38% 5,039,023 $20.1M No change
SPY SS SPDR S&P 500 ETF Trust-US 4.27% 28,570 $16.0M No change
BX Blackstone Inc. 3.39% 90,750 $12.7M Add +13.4%
MDXH Mdxhealth 2.80% 7,378,333 $10.5M No change
SPGI S&P Global Inc. 2.71% 20,000 $10.2M Reduce -50.0%
RHLD Resolute Holdings Manag 2.69% 321,413 $10.1M New
INVE Inve Technologies Inc. filed as IDENTIV INC 2.46% 2,884,495 $9.2M No change
DUOT Duos Technologies Group Inc. 2.45% 1,627,806 $9.2M No change
IDN Intellicheck Inc. 1.68% 2,073,583 $6.3M No change
LIQT Liqtech International Inc. 1.27% 3,182,239 $4.7M No change
CUE Cue Biopharma Inc. 1.22% 4,997,240 $4.6M No change
BRFH Barfresh Food Group Inc. 1.13% 1,390,758 $4.2M Add +20.5%
JPM JPMorgan Chase & Co. 0.98% 15,000 $3.7M No change
OPTINOSE INC 0.66% 269,675 $2.5M No change
CRIS Curis Inc. 0.58% 1,035,662 $2.2M Add +99.0%
GNLX Genelux Corp. 0.52% 714,000 $1.9M New
MODULAR MED INC 0.51% 1,754,165 $1.9M Add +42.2%
TV Grupo Televisa SA-Spon ADR 0.48% 1,030,000 $1.8M Add +3.0%
PROKIDNEY CORP 0.47% 2,000,000 $1.8M No change
SIRI Sirius XM Holdings Inc. 0.40% 66,505 $1.5M No change
DMAC Diamedica Therapeutics Inc. 0.39% 382,317 $1.4M No change
IMMX Immix Biopharma Inc. 0.38% 850,000 $1.4M No change
PROF Profound Medical Corp. 0.29% 183,333 $1.1M No change
OWLT Owlet Inc. 0.27% 270,000 $994K No change
LLYVK Liberty Media Corp.-Liberty-C 0.25% 13,802 $940K No change
POCI Precision Optics Corp. Inc. 0.24% 220,230 $914K Add +131.3%
ACOG Alpha Cognition Inc. 0.24% 173,900 $880K No change
ONDS Ondas Inc. filed as ONDAS HLDGS INC 0.22% 775,000 $829K No change
RTX RTX Corp. 0.21% 6,000 $795K No change
IRD Opus Genetics Inc. 0.19% 736,842 $723K New
AZ A2Z CUST2MATE Solutions Corp. 0.19% 100,000 $706K New
IPWR Ideal Power Inc. 0.18% 133,000 $692K No change
MXCT Maxcyte Inc. 0.18% 250,000 $675K No change
MULTISENSOR AI HOLDINGS INC 0.17% 700,000 $651K Reduce -17.6%
SPIR Spire Global Inc. 0.16% 75,000 $607K New
SMTK Smartkem Inc. 0.13% 166,666 $502K No change
RNXT Renovorx Inc. 0.13% 500,000 $495K New
ICCC Immucell Corp. 0.13% 101,594 $487K No change
SNREY Sunrise Communicat Class A 0.12% 9,260 $447K No change
PXLW Pixelworks Inc. 0.11% 679,347 $426K New
LBTYK Liberty Global Ltd. Class C 0.11% 34,809 $417K No change
LLYVA Liberty Media Corp.-Liberty-A 0.11% 6,047 $407K No change
MIST Milestone Pharmaceuticals Inc. 0.11% 500,000 $400K Reduce -62.3%
APTOF Aptose Biosciences Inc. 0.10% 121,366 $382K Add +53.1%
CARR Carrier Global Corp. 0.10% 6,000 $380K No change
PYPL PayPal Holdings Inc. 0.09% 5,300 $346K No change
LHX L3HARRIS Technologies Inc. 0.09% 1,600 $335K No change
OTIS Otis Worldwide Corp. 0.08% 3,000 $310K No change
PHYS Sprott Physical Gold Trust 0.08% 12,540 $302K No change
TLPH Talphera Inc. 0.06% 426,621 $211K New
XAIR Beyond Air Inc. 0.05% 738,313 $201K No change
EVOK Evoke Pharma Inc. 0.05% 68,750 $189K No change
GPCR Structure Therapeutics Inc. 0.05% 10,000 $173K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.04% 2,000 $168K No change
CDNS Cadence Design SYS Inc. 0.04% 525 $134K No change
LBTYA Liberty Global Ltd. Class A 0.04% 11,495 $132K No change
LGF.B Lions Gate Entertainment-B 0.03% 16,413 $130K No change
XOM Exxon Mobil Corp. 0.03% 1,075 $128K No change
AMD Advanced Micro Devices 0.03% 913 $94K No change
DTIL Precision Biosciences Inc. 0.02% 12,077 $58K New
LILAK Liberty Latin Americ Class C 0.01% 8,261 $51K No change
ARKF ARK Blockchain & Fintech Inn 0.01% 1,200 $40K No change
ARKW ARK Next Generation Technolo 0.01% 300 $28K No change
WGS Genedx Holdings Corp. 0.01% 304 $27K No change
RVMD Revolution Medicines Inc. 0.01% 556 $20K No change
ARKG ARK Genomic Revolution ETF 0.00% 825 $17K No change
LILA Liberty Latin Americ Class A 0.00% 2,009 $13K No change
XFOR X4 Pharmaceuticals Inc. 0.00% 17,865 $4K No change
AVNW Aviat Networks Inc. 0.00% 66 $1K No change
Other holdings (6): bonds, preferreds, convertibles and warrants · $997K (not counted above)
SecurityClassShares / PrincipalValueChange
OPFI.WS Oppfi Inc. -CW26 *W EXP 07/20/202 250,000$545KNo change
CMPOW Composecure Inc. -CW25 *W EXP 12/27/202 100,000$382KNo change
AENTW Adara Acquisition Class A -CW26 *W EXP 02/11/202 200,000$40KNo change
ARKOW Arko Corp. -CW25 *W EXP 12/22/202 333,333$19KNo change
RVMDW Revolution Medicines Inc.-28 *W EXP 12/17/202 200,000$8KNo change
SVREW Saverone 2014 Ltd. -CW27 *W EXP 06/02/202 121,000$3KNo change

Total filed on the 13F, all lines: $375.3M.

Portfolio Sells Q4 2024 → Q1 2025
FNA Paragon 28 Inc. Sold out 0.00% −4.59
SPGI S&P Global Inc. Reduce -50.0% 2.71% −2.30
TALK Talkspace Inc. Sold out 0.00% −0.78
MIST Milestone Pharmaceuticals Inc. Reduce -62.3% 0.11% −0.68
MULTISENSOR AI HOLDINGS INC Reduce -17.6% 0.17% −0.22
VENU Venu Holding Corp. Sold out 0.00% −0.05
TER Teradyne Inc. Sold out 0.00% −0.02
LITE Lumentum Holdings Inc. Sold out 0.00% −0.01

Portfolio Buys Q4 2024 → Q1 2025
RHLD Resolute Holdings Manag New 2.69% +2.69
GNLX Genelux Corp. New 0.52% +0.52
BRFH Barfresh Food Group Inc. Add +20.5% 1.13% +0.28
IRD Opus Genetics Inc. New 0.19% +0.19
AZ A2Z CUST2MATE Solutions Corp. New 0.19% +0.19
CRIS Curis Inc. Add +99.0% 0.58% +0.18
SPIR Spire Global Inc. New 0.16% +0.16
RNXT Renovorx Inc. New 0.13% +0.13
POCI Precision Optics Corp. Inc. Add +131.3% 0.24% +0.13
PXLW Pixelworks Inc. New 0.11% +0.11
MODULAR MED INC Add +42.2% 0.51% +0.09
TV Grupo Televisa SA-Spon ADR Add +3.0% 0.48% +0.06
TLPH Talphera Inc. New 0.06% +0.06
DTIL Precision Biosciences Inc. New 0.02% +0.02
APTOF Aptose Biosciences Inc. Add +53.1% 0.10% −0.04
BX Blackstone Inc. Add +13.4% 3.39% −0.09
GPGI Gpgi Inc. Add +1.3% 11.35% −3.55

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 73$556.8MGLD, GPGI, SPY, RHLD, LIN
Q1 2026 76$578.0MGLD, GPGI, RHLD, SPY, LIN
Q4 2025 69$567.6MGLD, GPGI, RHLD, LIN, MDXH
Q3 2025 66$510.9MGLD, GPGI, LIN, MDXH, RHLD
Q2 2025 70$405.0MGLD, GPGI, LIN, SPY, MDXH
Q1 2025 72$374.3MGLD, GPGI, LIN, IVAC, SPY
Q4 2024 68$396.9MGLD, GPGI, LIN, SPGI, FNA
Q3 2024 67$370.9MGLD, GPGI, LIN, SPGI, MDXH
Q2 2024 69$335.9MGLD, LIN, GPGI, IVAC, BC
Q1 2024 74$400.5MGLD, LIN, BC, INVE, FNA