In its 13F for Q1 2025 (holdings as of March 31, 2025, filed February 3, 2026), BRC Group Holdings, Inc. reported 20 stock positions worth $79.3 million . Its top holding was Doubledown Interactive -ADR (DDI) at 52.7% of the portfolio, followed by Babcock & Wilcox Enterpr (BW, 23.3% ) and Transact Technologies (4.3% ). Compared with Q4 2024, it opened 10 new positions, sold out of 3, added to 3 and reduced 5. The biggest buy was Doubledown Interactive -ADR (DDI, shares +1% ) and the biggest sale Cadiz (CDZI, shares −93% ).
Location LOS ANGELES, CA
CIK 0001464790
Portfolio Value $79.3M (Q1 2025) Holdings 20 stocks · $79.3M 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 DDI Doubledown Interactive -ADR 4,224,224 $41.8M Add +0.9% BW Babcock & Wilcox Enterpr 27,446,522 $18.5M No change TRANSACT TECHNOLOGIES INC 926,755 $3.4M New SNCR Synchronoss Technologies Inc. 306,429 $3.3M Reduce -59.1% LSEA Landsea Homes Corp. 508,729 $3.3M Add +1.7% NN Nextnav Inc. 209,875 $2.6M New EGHT 8X8 Inc. 833,522 $1.7M Reduce -6.7% DRDB Roman DBDR Acquisition Corp. 605,913 $1.2M Add +1616.8% CORZ Core Scientific Inc. 165,000 $1.2M New DAVE Dave Inc. 7,000 $579K New AGEN Agenus Inc. 382,675 $576K Reduce -49.5% CDZI Cadiz Inc. 121,537 $356K Reduce -93.0% GAME Gamesquare Hldgs Inc. 541,921 $322K Reduce -56.0% STLN Starling Oncology Inc. filed as THE ONCOLOGY INSTITUTE INC 150,000 $171K New SCLX Scilex Holding Co. 434,515 $108K New IBIT iShares Bitcoin Trust ETF 2,000 $94K New GCTS GCT Semiconductor Holding Inc. 56,818 $93K New SPMC Sound Point Meridian Capital 63,694 $30K New RMCO Royalty Management Holding C 20,000 $22K No change EVOK Evoke Pharma Inc. 20,000 $12K New
Other holdings (3): bonds, preferreds, convertibles and warrants · $244K (not counted above) Total filed on the 13F, all lines: $79.5M.
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 ▲ CDZI Cadiz Inc. Reduce -93.0% 0.45% −7.11 TACT Transact Technologies Inc. Sold out 0.00% −3.21 SNCR Synchronoss Technologies Inc. Reduce -59.1% 4.21% −1.83 AGEN Agenus Inc. Reduce -49.5% 0.73% −1.01 GAME Gamesquare Hldgs Inc. Reduce -56.0% 0.41% −0.45 THE REAL GOOD FOOD COMPANY I Sold out 0.00% −0.30 ALTISOURCE PORTFOLIO SOLNS S Sold out 0.00% −0.02 EGHT 8X8 Inc. Reduce -6.7% 2.10% +0.10
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 ▼ DDI Doubledown Interactive -ADR Add +0.9% 52.73% +16.08 TRANSACT TECHNOLOGIES INC New 4.30% +4.30 NN Nextnav Inc. New 3.22% +3.22 CORZ Core Scientific Inc. New 1.51% +1.51 DRDB Roman DBDR Acquisition Corp. Add +1616.8% 1.56% +1.27 DAVE Dave Inc. New 0.73% +0.73 LSEA Landsea Homes Corp. Add +1.7% 4.12% +0.56 STLN Starling Oncology Inc. New 0.22% +0.22 SCLX Scilex Holding Co. New 0.14% +0.14 IBIT iShares Bitcoin Trust ETF New 0.12% +0.12 GCTS GCT Semiconductor Holding Inc. New 0.12% +0.12 SPMC Sound Point Meridian Capital New 0.04% +0.04 EVOK Evoke Pharma Inc. New 0.02% +0.02
Notes & Other Activity Q4 2024 → Q1 2025 Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 35 $433.4M BW, DDI, SQNS, STLN, DRDB Q1 2026 19 $456.0M BW, DDI, SQNS, RIOT, DRDB Q4 2025 20 $233.9M BW, DDI, APLD, SQNS, SNCR Q3 2025 21 $147.1M BW, DDI, AMAT, SQNS, TRANSACT TECHNOLOGIES INC Q2 2025 34 $88.6M DDI, BW, BTBT, TRANSACT TECHNOLOGIES INC, DIREXION DLY S&P 500 BEAR 3X Q1 2025 20 $79.3M DDI, BW, TRANSACT TECHNOLOGIES INC, SNCR, LSEA Q4 2024 13 $119.2M BW, DDI, CDZI, SNCR, LSEA Q3 2024 13 $149.6M DDI, BW, SNCR, LILMF, TACT Q2 2024 14 $122.9M DDI, BW, SNCR, LILMF, TACT Q1 2024 13 $103.2M DDI, BW, SNCR, IPX, TACT