Breach Inlet Capital Management, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Breach Inlet Capital Management, LLC reported 9 stock positions worth $202.5 million. Its top holding was Stride (LRN) at 16.6% of the portfolio, followed by Hilton Grand Vacations (HGV, 16.1%) and Atlanta Braves Holdings in-C (BATRK, 14.1%). Compared with Q2 2025, it opened 2 new positions, sold out of 1, added to 4 and reduced 3. The biggest buy was a new position in Stride (LRN) and the biggest sale an exit from Tiptree (TIPT).

Most Recent 13F
Q2 2026
Location
MT. PLEASANT, SC
CIK
0002009914
Portfolio Value
$202.5M (Q3 2025)
SEC Filing
0002009914-25-000004 ↗ filed Nov 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $111.7M Q1 2024 Q2 2024: $121.9M Q2 2024 Q3 2024: $111.0M Q3 2024 Q4 2024: $141.2M Q4 2024 Q1 2025: $175.1M Q1 2025 Q2 2025: $203.7M Q2 2025 Q3 2025: $202.5M $202.5M Q3 2025 Q4 2025: $212.3M Q4 2025 Q1 2026: $304.6M Q1 2026 Q2 2026: $300.0M Q2 2026

Holdings 9 stocks · $202.5M
LRN Stride Inc. 16.64% 226,315 $33.7M New
HGV Hilton Grand Vacations Inc. 16.14% 781,915 $32.7M Add +0.5%
BATRK Atlanta Braves Holdings in-C 14.08% 685,873 $28.5M Add +5.0%
BUR Burford Capital Ltd. 12.41% 2,102,050 $25.1M Add +2.7%
PRG Prog Holdings Inc. 9.96% 623,449 $20.2M Reduce -21.0%
DAKT Daktronics Inc. 9.90% 958,419 $20.1M Reduce -40.0%
MANU Manchester United PLC Class A 8.83% 1,181,283 $17.9M Add +7.8%
PRKS United Parks & Resorts Inc. 6.74% 263,962 $13.6M Reduce -51.9%
NATL NCR Atleos Corp. 5.30% 272,888 $10.7M New

Portfolio Sells Q2 2025 → Q3 2025
TIPT Tiptree Inc. Sold out 0.00% −9.30
PRKS United Parks & Resorts Inc. Reduce -51.9% 6.74% −5.95
DAKT Daktronics Inc. Reduce -40.0% 9.90% −1.96
PRG Prog Holdings Inc. Reduce -21.0% 9.96% −1.41

Portfolio Buys Q2 2025 → Q3 2025
LRN Stride Inc. New 16.64% +16.64
NATL NCR Atleos Corp. New 5.30% +5.30
HGV Hilton Grand Vacations Inc. Add +0.5% 16.14% +0.28
MANU Manchester United PLC Class A Add +7.8% 8.83% −0.75
BATRK Atlanta Braves Holdings in-C Add +5.0% 14.08% −0.91
BUR Burford Capital Ltd. Add +2.7% 12.41% −1.92

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 10$300.0MPRG, LRN, BATRK, HGV, DAKT
Q1 2026 12$304.6MLRN, BATRK, HGV, PRG, DAKT
Q4 2025 12$212.3MHGV, BATRK, DAKT, PRG, MANU
Q3 2025 9$202.5MLRN, HGV, BATRK, BUR, PRG
Q2 2025 8$203.7MHGV, BATRK, BUR, PRKS, DAKT
Q1 2025 11$175.1MHGV, BATRK, DAKT, TIPT, PRG
Q4 2024 11$141.2MBATRK, HGV, DAKT, TIPT, PRKS
Q3 2024 10$111.0MBATRK, DAKT, TIPT, HGV, IMXI
Q2 2024 11$121.9MDAKT, BATRK, HGV, IMXI, TIPT
Q1 2024 11$111.7MBATRK, HGV, DAKT, IMXI, TIPT