Chicago Capital Management, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 12, 2025), Chicago Capital Management, LLC reported 15 stock positions worth $42.8 million. Its top holding was Heartland Financial USA (HTLF) at 32.2% of the portfolio, followed by Evans Bancorp (EVBN, 19.8%) and Cross Country Healthcare (CCRN, 17.1%). Compared with Q3 2024, it opened 11 new positions, sold out of 5 and added to 3. The biggest buy was a new position in Evans Bancorp (EVBN) and the biggest sale an exit from Envestnet (ENV).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001580162
- Portfolio Value
- $42.8M (Q4 2024)
- SEC Filing
- 0001062993-25-002121 ↗ filed Feb 12, 2025
Holdings Value
Holdings 15 stocks · $42.8M
| HTLF Heartland Financial USA Inc. | 32.22% | 224,902 | $13.8M | Add +6.3% |
| EVBN Evans Bancorp Inc. | 19.81% | 195,739 | $8.5M | New |
| CCRN Cross Country Healthcare Inc. | 17.06% | 402,000 | $7.3M | New |
| AE Adams Resources & Energy Inc. | 8.53% | 96,624 | $3.6M | New |
| FFNW First Financial Northwest | 7.73% | 152,478 | $3.3M | Add +0.3% |
| BARNES GROUP INC | 5.47% | 49,553 | $2.3M | New |
| SASR Sandy Spring Bancorp Inc. | 1.97% | 25,000 | $843K | New |
| HES Hess Corp. | 1.55% | 5,000 | $665K | No change |
| SSB Southstate Bank Corp. | 1.43% | 6,131 | $610K | New |
| PTVE Pactiv Evergreen Inc. | 1.22% | 30,000 | $524K | New |
| PWOD Penns Woods Bancorp Inc. | 1.06% | 14,918 | $453K | New |
| FBMS First Bancshares Inc. | 0.82% | 10,043 | $352K | New |
| VBFC Village Bank and Trust Finan | 0.68% | 3,738 | $291K | Add +24.6% |
| CFB Crossfirst Bankshares Inc. | 0.44% | 12,304 | $186K | New |
| NUVASIVE INC (GMED 0.375 03/15/25) | 0.00% | 662 | $654 | New |
Other holdings (33): bonds, preferreds, convertibles and warrants · $26.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 6,500 | $5.8M | No change |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | 4,189 | $4.3M | No change |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | 55,643 | $3.9M | Add +63.6% |
| RINGCENTRAL INC (RNG 0 03/01/25) | NOTE 3/0 · principal | 3,350 | $3.3M | Add +857.1% |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | 3,000 | $2.9M | New |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 3,048 | $2.8M | No change |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | 2,277 | $2.1M | No change |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 1,000 | $1.1M | No change |
| TECHTARGET HOLDINGS INC (TTGT 0 12/15/26) | NOTE 12/1 · principal | 8,514 | $8K | No change |
| EVENTBRITE INC (EB 0.75 09/15/26) | NOTE 0.750% 9/1 · principal | 8,660 | $8K | No change |
| CARDLYTICS INC (CDLX 1 09/15/25) | NOTE 1.000% 9/1 · principal | 8,250 | $7K | No change |
| THE REALREAL INC (REAL 3 06/15/25) | NOTE 3.000% 6/1 · principal | 5,766 | $6K | No change |
| OIL STATES INTL INC (OIS 4.75 04/01/26) | NOTE 4.750% 4/0 · principal | 5,700 | $6K | No change |
| SABRE GLBL INC (SABHLD 4 04/15/25) | NOTE 4.000% 4/1 · principal | 5,500 | $5K | No change |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | 6,450 | $5K | No change |
| BANDWIDTH INC (BAND 0.25 03/01/26) | NOTE 0.250% 3/0 · principal | 4,870 | $4K | No change |
| FARO TECHNOLOGIES INC (FARO 5.5 02/01/28) | NOTE 5.500% 2/0 · principal | 3,905 | $4K | No change |
| MESA LABORATORIES INC (MLAB 1.375 08/15/25) | NOTE 1.375% 8/1 · principal | 4,000 | $4K | No change |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 4,100 | $4K | No change |
| TRIPADVISOR INC (TRIP 0.25 04/01/26) | NOTE 0.250% 4/0 · principal | 4,000 | $4K | No change |
| GROUPON INC (GRPN 1.125 03/15/26) | NOTE 1.125% 3/1 · principal | 4,000 | $4K | New |
| ENVESTNET INC (ENV 0.75 08/15/25) | 0.75 8/15/2025 · principal | 3,000 | $3K | No change |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | 3,080 | $3K | New |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | 3,300 | $2K | No change |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 2,500 | $2K | No change |
| ATLANTICA JERSEY LTD (AY 4 07/15/25) | NOTE 4.000% 7/1 · principal | 2,305 | $2K | No change |
| CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26) | NOTE 0.625% 6/1 · principal | 2,157 | $2K | No change |
| 3D SYSTEMS CORP (DDD 0 11/15/26) | NOTE 11/1 · principal | 2,215 | $2K | No change |
| FASTLY INC (FSLY 0 03/15/26) | NOTE 3/1 · principal | 2,000 | $2K | No change |
| HERBALIFE LTD (HLF 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | 2,046 | $2K | No change |
| NATIONAL VISION HOLDINGS (EYE 2.5 05/15/25) | NOTE 2.500% 5/1 · principal | 1,100 | $1K | Add +0.2% |
| HEALTH CATALYST INC (HCAT 2.5 04/15/25) | NOTE 2.500% 4/1 · principal | 1,085 | $1K | New |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 1,003 | $950 | No change |
Total filed on the 13F, all lines: $69.1M.
Portfolio Sells Q3 2024 → Q4 2024
Portfolio Buys Q3 2024 → Q4 2024
| EVBN Evans Bancorp Inc. | New | 19.81% | +19.81 |
| CCRN Cross Country Healthcare Inc. | New | 17.06% | +17.06 |
| AE Adams Resources & Energy Inc. | New | 8.53% | +8.53 |
| BARNES GROUP INC | New | 5.47% | +5.47 |
| SASR Sandy Spring Bancorp Inc. | New | 1.97% | +1.97 |
| HTLF Heartland Financial USA Inc. | Add +6.3% | 32.22% | +1.83 |
| SSB Southstate Bank Corp. | New | 1.43% | +1.43 |
| PTVE Pactiv Evergreen Inc. | New | 1.22% | +1.22 |
| PWOD Penns Woods Bancorp Inc. | New | 1.06% | +1.06 |
| FBMS First Bancshares Inc. | New | 0.82% | +0.82 |
| CFB Crossfirst Bankshares Inc. | New | 0.44% | +0.44 |
| VBFC Village Bank and Trust Finan | Add +24.6% | 0.68% | +0.10 |
| NUVASIVE INC (GMED 0.375 03/15/25) | New | 0.00% | +0.00 |
| FFNW First Financial Northwest | Add +0.3% | 7.73% | −0.95 |
Notes & Other Activity Q3 2024 → Q4 2024
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | Add +63.6% | 55,643 | $3.9M |
| RINGCENTRAL INC (RNG 0 03/01/25) | NOTE 3/0 · principal | Add +857.1% | 3,350 | $3.3M |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | New | 3,000 | $2.9M |
| NUVASIVE INC (GMED 0.375 03/15/25) | NOTE 0.375% 3/1 · principal | Sold out | 599 | $585Kbefore exit |
| REVANCE THERAPEUTICS INC (RVNC 1.75 02/15/27) | NOTE 1.750% 2/1 · principal | Sold out | 9,050 | $8Kbefore exit |
| RBC BEARINGS INC (RBC 5 10/15/24 A) | 5% CNV PFD SR A · principal | Sold out | 5,152 | $7Kbefore exit |
| GROUPON INC (GRPN 1.125 03/15/26) | NOTE 1.125% 3/1 · principal | New | 4,000 | $4K |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | New | 3,080 | $3K |
| NATIONAL VISION HOLDINGS (EYE 2.5 05/15/25) | NOTE 2.500% 5/1 · principal | Add +0.2% | 1,100 | $1K |
| HEALTH CATALYST INC (HCAT 2.5 04/15/25) | NOTE 2.500% 4/1 · principal | New | 1,085 | $1K |
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 | 12 | $48.4M | NUVL, APGE, GTLS, TMHC, CPRX |
| Q1 2026 | 12 | $47.3M | GTLS, JHG, ACLX, FOLD, APLS |
| Q4 2025 | 18 | $49.6M | CDTX, EXAS, JHG, CFLT, ATXS |
| Q3 2025 | 6 | $24.7M | VRNA, TRML, PBBK, CCRD, CFSB |
| Q2 2025 | 14 | $39.8M | SWTX, BPMC, OPOF, VIGL, PWOD |
| Q1 2025 | 14 | $44.0M | ITCI, FNA, CCRN, PDCO, EVBN |
| Q4 2024 | 15 | $42.8M | HTLF, EVBN, CCRN, AE, FFNW |
| Q3 2024 | 9 | $39.4M | HTLF, ENV, HAYN, RCM, FFNW |
| Q2 2024 | 11 | $27.5M | HAYN, HTLF, SILK, MCBC, WIRE |
| Q1 2024 | 12 | $20.0M | PXD, FUSN, CSTR, NWLI, CERE |