In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Continental Advisors LLC reported 36 stock positions worth $154.2 million . Its top holding was Viatris (VTRS) at 7.3% of the portfolio, followed by Western Union (WU, 6.6% ) and Pfizer (PFE, 6.5% ). Compared with Q3 2025, it opened 4 new positions, sold out of 3, added to 4 and reduced 16. The biggest buy was a new position in Bristol-Myers Squibb (BMY) and the biggest sale an exit from Cannae (CNNE).
Location Park City, UT
CIK 0001277779
Portfolio Value $154.2M (Q4 2025) Holdings 36 stocks · $154.2M 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 Q3 2025 VTRS Viatris Inc. 907,588 $11.3M Reduce -4.6% WU Western Union Co. 1,093,083 $10.2M Add +21.3% PFE Pfizer Inc. 400,938 $10.0M Reduce -2.0% TEVA Teva Pharmaceutical-SP ADR 288,118 $9.0M Reduce -15.5% TFC Truist Financial Corp. 161,172 $7.9M Reduce -2.4% COF Capital One Financial Corp. 31,305 $7.6M Reduce -13.8% FHI Federated Hermes Inc. 125,859 $6.6M Reduce -0.4% UBER Uber Technologies Inc. 78,548 $6.4M Reduce -6.0% C Citigroup Inc. 53,934 $6.3M Reduce -26.1% WFC Wells Fargo & Co. 66,106 $6.2M Reduce -20.5% XRAY Dentsply Sirona Inc. 522,065 $6.0M Add +23.9% LVS Las Vegas Sands Corp. 81,825 $5.3M Reduce -18.4% RF Regions Financial Corp. 177,000 $4.8M No change PRGO Perrigo Co. PLC 300,638 $4.2M Add +17.3% GILD Gilead Sciences Inc. 32,867 $4.0M Reduce -4.4% BMY Bristol-Myers Squibb Co. 74,754 $4.0M New BKD Brookdale Senior Living Inc. 348,414 $3.8M Reduce -5.2% AMLP Alerian MLP ETF 75,723 $3.6M No change NTRS Northern Trust Corp. 25,801 $3.5M Reduce -14.8% JPM JPMorgan Chase & Co. 10,735 $3.5M No change XBI SS SPDR S&P Biotech ETF 27,700 $3.4M Reduce -23.5% XLE SS Energy Select Sector 73,000 $3.3M No change B Barrick Mining Corp. 73,751 $3.2M Reduce -25.8% GS Goldman Sachs Group Inc. 3,293 $2.9M No change IEMG iShares Core MSCI Emerging 40,800 $2.7M No change SHEL Shell PLC-ADR 36,520 $2.7M No change IVZ Invesco Ltd. 97,690 $2.6M Reduce -16.3% RPAY Repay Holdings Corp. 614,091 $2.2M Add +61.8% ALIT Alight Inc. Class A 937,727 $1.8M New SSB Southstate Bank Corp. 18,512 $1.7M No change BAX Baxter International Inc. 63,400 $1.2M New FBNC First Bancorp 12,531 $636K No change UCB United Community Banks 18,000 $562K No change HBAN Huntington Bancshares Inc. 26,055 $452K New RVSB Riverview Bancorp Inc. 86,004 $432K No change SBCF Seacoast Banking Corp. 9,000 $283K No change
Options reported separately and not counted above: SPY puts ($61.4M), PFE calls ($6.1M), WU calls ($4.4M), XRAY calls ($3.7M), PRGO calls ($3.4M), VTRS calls ($2.3M), B puts ($1.4M).
Portfolio Sells Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▲ CNNE Cannae Holdings Inc. Sold out 0.00% −2.26 UBER Uber Technologies Inc. Reduce -6.0% 4.16% −1.37 C Citigroup Inc. Reduce -26.1% 4.08% −0.92 WFC Wells Fargo & Co. Reduce -20.5% 4.00% −0.71 PFE Pfizer Inc. Reduce -2.0% 6.48% −0.57 NTRS Northern Trust Corp. Reduce -14.8% 2.29% −0.47 VBTX Veritex Holdings Inc. Sold out 0.00% −0.30 COF Capital One Financial Corp. Reduce -13.8% 4.92% −0.29 XBI SS SPDR S&P Biotech ETF Reduce -23.5% 2.19% −0.26 PROV Provident Financial Hldgs Sold out 0.00% −0.20 LVS Las Vegas Sands Corp. Reduce -18.4% 3.45% −0.19 FHI Federated Hermes Inc. Reduce -0.4% 4.25% −0.18 IVZ Invesco Ltd. Reduce -16.3% 1.66% −0.14 B Barrick Mining Corp. Reduce -25.8% 2.08% −0.12 GILD Gilead Sciences Inc. Reduce -4.4% 2.62% +0.04 TFC Truist Financial Corp. Reduce -2.4% 5.14% +0.04 BKD Brookdale Senior Living Inc. Reduce -5.2% 2.44% +0.33 VTRS Viatris Inc. Reduce -4.6% 7.33% +0.96 TEVA Teva Pharmaceutical-SP ADR Reduce -15.5% 5.83% +1.18
Portfolio Buys Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▼ BMY Bristol-Myers Squibb Co. New 2.62% +2.62 WU Western Union Co. Add +21.3% 6.60% +1.74 ALIT Alight Inc. Class A New 1.19% +1.19 BAX Baxter International Inc. New 0.79% +0.79 HBAN Huntington Bancshares Inc. New 0.29% +0.29 XRAY Dentsply Sirona Inc. Add +23.9% 3.87% +0.26 RPAY Repay Holdings Corp. Add +61.8% 1.45% +0.11 PRGO Perrigo Co. PLC Add +17.3% 2.71% −1.14
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Reduce -2.2% 90,000 $61.4M PFE Pfizer Inc. call Reduce -12.8% 245,000 $6.1M WU Western Union Co. call Reduce -54.6% 470,000 $4.4M XRAY Dentsply Sirona Inc. call Add +159.4% 320,600 $3.7M PRGO Perrigo Co. PLC call Add +707.7% 242,300 $3.4M VTRS Viatris Inc. call Reduce -56.0% 183,700 $2.3M B Barrick Mining Corp. put New 33,000 $1.4M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 40 $170.4M VTRS, PFE, WU, TEVA, XRAY Q1 2026 40 $161.3M VTRS, WU, PFE, TEVA, FHI Q4 2025 36 $154.2M VTRS, WU, PFE, TEVA, TFC Q3 2025 35 $148.0M PFE, VTRS, UBER, COF, TFC Q2 2025 36 $139.7M PFE, VTRS, COF, UBER, FHI Q1 2025 33 $134.7M WU, PFE, VTRS, UBER, FHI Q4 2024 34 $131.8M WU, VTRS, COF, TEVA, FHI Q3 2024 33 $135.5M VTRS, UBER, WU, COF, TFC Q2 2024 35 $129.4M UBER, VTRS, PFE, TFC, WU Q1 2024 33 $126.3M PFE, UBER, WU, COF, TEVA