Chicago Capital Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 9, 2025), Chicago Capital Management, LLC reported 14 stock positions worth $44.0 million. Its top holding was Intra-Cellular Therapies (ITCI) at 27.0% of the portfolio, followed by Paragon 28 (FNA, 17.0%) and Cross Country Healthcare (CCRN, 13.6%). Compared with Q4 2024, it opened 7 new positions, sold out of 8, added to 1 and reduced 1. The biggest buy was a new position in Intra-Cellular Therapies (ITCI) and the biggest sale an exit from Heartland Financial USA (HTLF).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001580162
- Portfolio Value
- $44.0M (Q1 2025)
- SEC Filing
- 0001062993-25-009036 ↗ filed May 9, 2025
Holdings Value
Holdings 14 stocks · $44.0M
| ITCI Intra-Cellular Therapies Inc. | 27.04% | 90,200 | $11.9M | New |
| FNA Paragon 28 Inc. | 16.95% | 571,300 | $7.5M | New |
| CCRN Cross Country Healthcare Inc. | 13.60% | 402,000 | $6.0M | No change |
| PDCO Patterson Cos Inc. | 11.19% | 157,615 | $4.9M | New |
| EVBN Evans Bancorp Inc. | 10.08% | 113,873 | $4.4M | Reduce -41.8% |
| CMRX Chimerix Inc. | 4.96% | 256,700 | $2.2M | New |
| TGI Triumph Group Inc. | 4.89% | 85,000 | $2.2M | New |
| ACCD Accolade Inc. | 4.11% | 259,233 | $1.8M | New |
| HES Hess Corp. | 1.81% | 5,000 | $799K | No change |
| SASR Sandy Spring Bancorp Inc. | 1.59% | 25,000 | $700K | No change |
| PYCR Paycor HCM Inc. | 1.31% | 25,744 | $578K | New |
| PWOD Penns Woods Bancorp Inc. | 0.95% | 14,918 | $416K | No change |
| FBMS First Bancshares Inc. | 0.81% | 10,543 | $357K | Add +5.0% |
| VBFC Village Bank and Trust Finan | 0.68% | 3,738 | $300K | No change |
Other holdings (33): bonds, preferreds, convertibles and warrants · $17.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 6,500 | $6.1M | No change |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 4,292 | $3.7M | 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 | $2.2M | No change |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 32,900 | $1.6M | New |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 1,000 | $1.2M | No change |
| CARDLYTICS INC (CDLX 1 09/15/25) | NOTE 1.000% 9/1 · principal | 8,250 | $8K | No change |
| EVENTBRITE INC (EB 0.75 09/15/26) | NOTE 0.750% 9/1 · principal | 8,660 | $8K | No change |
| ESPERION THERAPEUTICS (ESPR 4 11/15/25) | NOTE 4.000%11/1 · principal | 7,500 | $7K | New |
| THE REALREAL INC (REAL 3 06/15/25) | NOTE 3.000% 6/1 · principal | 5,766 | $6K | No change |
| SABRE GLBL INC (SABHLD 4 04/15/25) | NOTE 4.000% 4/1 · principal | 5,500 | $6K | No change |
| OIL STATES INTL INC (OIS 4.75 04/01/26) | NOTE 4.750% 4/0 · principal | 5,700 | $6K | No change |
| INFINERA CORP (INFN 3.75 08/01/28) | NOTE 3.750% 8/0 · principal | 3,382 | $4K | New |
| THE REALREAL INC (REAL 1 03/01/28) | NOTE 1.000% 3/0 · principal | 5,307 | $4K | New |
| 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 |
| GROUPON INC (GRPN 1.125 03/15/26) | NOTE 1.125% 3/1 · principal | 4,000 | $4K | No change |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 4,100 | $4K | No change |
| SHAKE SHACK INC (SHAK 0 03/01/28) | NOTE 3/0 · principal | 4,189 | $4K | No change |
| TRIPADVISOR INC (TRIP 0.25 04/01/26) | NOTE 0.250% 4/0 · principal | 4,000 | $4K | No change |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | 3,620 | $3K | Add +17.5% |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | 3,000 | $3K | No change |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | 2,976 | $3K | Reduce -53.9% |
| GUESS INC (GES 3.75 04/15/28) | NOTE 3.750% 4/1 · principal | 3,000 | $3K | New |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 2,595 | $2K | Add +3.8% |
| PAGERDUTY INC. (PD 1.25 07/01/25) | NOTE 1.250% 7/0 · principal | 2,507 | $2K | New |
| XEROX HOLDINGS CORP (XRX 3.75 03/15/30) | NOTE 3.750% 3/1 · principal | 4,000 | $2K | New |
| 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 | 1,110 | $1K | Add +0.9% |
| HEALTH CATALYST INC (HCAT 2.5 04/15/25) | NOTE 2.500% 4/1 · principal | 1,085 | $1K | No change |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 1,003 | $964 | No change |
| INFINERA CORP (INFN 2.5 03/01/27) | NOTE 2.500% 3/0 · principal | 750 | $899 | New |
Total filed on the 13F, all lines: $61.6M.
Portfolio Sells Q4 2024 → Q1 2025
| HTLF Heartland Financial USA Inc. | Sold out | 0.00% | −32.22 |
| EVBN Evans Bancorp Inc. | Reduce -41.8% | 10.08% | −9.72 |
| AE Adams Resources & Energy Inc. | Sold out | 0.00% | −8.53 |
| FFNW First Financial Northwest | Sold out | 0.00% | −7.73 |
| BARNES GROUP INC | Sold out | 0.00% | −5.47 |
| SSB Southstate Bank Corp. | Sold out | 0.00% | −1.43 |
| PTVE Pactiv Evergreen Inc. | Sold out | 0.00% | −1.22 |
| CFB Crossfirst Bankshares Inc. | Sold out | 0.00% | −0.44 |
| NUVASIVE INC (GMED 0.375 03/15/25) | Sold out | 0.00% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| ITCI Intra-Cellular Therapies Inc. | New | 27.04% | +27.04 |
| FNA Paragon 28 Inc. | New | 16.95% | +16.95 |
| PDCO Patterson Cos Inc. | New | 11.19% | +11.19 |
| CMRX Chimerix Inc. | New | 4.96% | +4.96 |
| TGI Triumph Group Inc. | New | 4.89% | +4.89 |
| ACCD Accolade Inc. | New | 4.11% | +4.11 |
| PYCR Paycor HCM Inc. | New | 1.31% | +1.31 |
| FBMS First Bancshares Inc. | Add +5.0% | 0.81% | −0.01 |
Notes & Other Activity Q4 2024 → Q1 2025
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | Sold out | 55,643 | $3.9Mbefore exit |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | New | 4,292 | $3.7M |
| RINGCENTRAL INC (RNG 0 03/01/25) | NOTE 3/0 · principal | Sold out | 3,350 | $3.3Mbefore exit |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | New | 32,900 | $1.6M |
| TECHTARGET HOLDINGS INC (TTGT 0 12/15/26) | NOTE 12/1 · principal | Sold out | 8,514 | $8Kbefore exit |
| ESPERION THERAPEUTICS (ESPR 4 11/15/25) | NOTE 4.000%11/1 · principal | New | 7,500 | $7K |
| BANDWIDTH INC (BAND 0.25 03/01/26) | NOTE 0.250% 3/0 · principal | Sold out | 4,870 | $4Kbefore exit |
| INFINERA CORP (INFN 3.75 08/01/28) | NOTE 3.750% 8/0 · principal | New | 3,382 | $4K |
| THE REALREAL INC (REAL 1 03/01/28) | NOTE 1.000% 3/0 · principal | New | 5,307 | $4K |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | Add +17.5% | 3,620 | $3K |
| ENVESTNET INC (ENV 0.75 08/15/25) | 0.75 8/15/2025 · principal | Sold out | 3,000 | $3Kbefore exit |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | Reduce -53.9% | 2,976 | $3K |
| GUESS INC (GES 3.75 04/15/28) | NOTE 3.750% 4/1 · principal | New | 3,000 | $3K |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | Add +3.8% | 2,595 | $2K |
| PAGERDUTY INC. (PD 1.25 07/01/25) | NOTE 1.250% 7/0 · principal | New | 2,507 | $2K |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | Sold out | 3,300 | $2Kbefore exit |
| XEROX HOLDINGS CORP (XRX 3.75 03/15/30) | NOTE 3.750% 3/1 · principal | New | 4,000 | $2K |
| ATLANTICA JERSEY LTD (AY 4 07/15/25) | NOTE 4.000% 7/1 · principal | Sold out | 2,305 | $2Kbefore exit |
| CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26) | NOTE 0.625% 6/1 · principal | Sold out | 2,157 | $2Kbefore exit |
| 3D SYSTEMS CORP (DDD 0 11/15/26) | NOTE 11/1 · principal | Sold out | 2,215 | $2Kbefore exit |
| NATIONAL VISION HOLDINGS (EYE 2.5 05/15/25) | NOTE 2.500% 5/1 · principal | Add +0.9% | 1,110 | $1K |
| INFINERA CORP (INFN 2.5 03/01/27) | NOTE 2.500% 3/0 · principal | New | 750 | $899 |
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 |