Crawford Fund Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Crawford Fund Management, LLC reported 34 stock positions worth $311.9 million. Its top holding was Nexstar Media (NXST) at 5.9% of the portfolio, followed by Uber Technologies (UBER, 5.9%) and Xpel (XPEL, 5.8%). Compared with Q3 2025, it opened 10 new positions, sold out of 2, added to 20 and reduced 4. The biggest buy was a new position in Customers Bancorp (CUBI) and the biggest sale United Therapeutics (UTHR, shares −56%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001816427
- Portfolio Value
- $311.9M (Q4 2025)
- SEC Filing
- 0001816427-26-000003 ↗ filed Feb 17, 2026
Holdings Value
Holdings 34 stocks · $311.9M
| NXST Nexstar Media Group Inc. | 5.90% | 90,593 | $18.4M | Add +58.0% |
| UBER Uber Technologies Inc. | 5.88% | 224,564 | $18.3M | Add +61.8% |
| XPEL Xpel Inc. | 5.83% | 364,251 | $18.2M | Add +40.0% |
| LNG Cheniere Energy Inc. | 5.31% | 85,175 | $16.6M | Add +74.3% |
| CIB Grupo Cibest SA-ADR | 5.23% | 256,601 | $16.3M | Add +56.0% |
| YELP Yelp Inc. | 5.10% | 523,958 | $15.9M | Add +100.0% |
| WT Wisdomtree Inc. | 4.85% | 1,241,269 | $15.1M | Add +79.1% |
| CUBI Customers Bancorp Inc. | 4.31% | 183,850 | $13.4M | New |
| BAH Booz Allen Hamilton Holdings | 4.18% | 154,611 | $13.0M | Add +60.0% |
| SA Seabridge Gold Inc. | 3.85% | 405,743 | $12.0M | Reduce -2.6% |
| SAM Boston Beer Company Inc. Class A | 3.85% | 61,481 | $12.0M | Add +44.0% |
| TPL Texas Pacific Land Corp. | 3.84% | 41,687 | $12.0M | Add +45.5% |
| OPCH Option Care Health Inc. | 3.75% | 367,000 | $11.7M | New |
| NTB Bank of N.T. Butterfield&son | 3.22% | 201,504 | $10.0M | New |
| HBCP Home Bancorp Inc. | 3.16% | 170,448 | $9.9M | Add +33.7% |
| TOST Toast Inc. Class A | 2.89% | 253,936 | $9.0M | Add +101.5% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 2.25% | 89,769 | $7.0M | Add +55.7% |
| HIFS Hingham Institution for SVGS | 2.24% | 24,566 | $7.0M | Add +26.4% |
| CDW CDW Corp. | 2.20% | 50,452 | $6.9M | Add +116.5% |
| ROKU Roku Inc. | 2.19% | 63,060 | $6.8M | Reduce -36.1% |
| CROX Crocs Inc. | 2.09% | 76,083 | $6.5M | Add +132.0% |
| ABNB Airbnb Inc. Class A | 2.08% | 47,792 | $6.5M | Add +2.8% |
| CHE Chemed Corp. | 1.99% | 14,475 | $6.2M | New |
| NNI Nelnet Inc. Class A | 1.96% | 46,090 | $6.1M | Add +32.5% |
| GRBK Green Brick Partners Inc. | 1.89% | 93,900 | $5.9M | New |
| PM Philip Morris International | 1.78% | 34,576 | $5.5M | New |
| NATH Nathan's Famous Inc. | 1.77% | 58,926 | $5.5M | Add +1.3% |
| HROW Harrow Inc. | 1.62% | 103,400 | $5.1M | New |
| MORN Morningstar Inc. | 1.41% | 20,300 | $4.4M | New |
| UTHR United Therapeutics Corp. | 1.40% | 8,993 | $4.4M | Reduce -56.2% |
| SFM Sprouts Farmers Market Inc. | 0.96% | 37,544 | $3.0M | New |
| MLP Maui Land & Pineapple Co. filed as MAUI LD & PINEAPPLE INC | 0.50% | 92,087 | $1.6M | Add +94.1% |
| KNSL Kinsale Capital Group Inc. | 0.31% | 2,500 | $978K | New |
| VCEL Vericel Corp. | 0.22% | 18,800 | $677K | Reduce -82.9% |
Options reported separately and not counted above: PLTR puts ($32.2M), BA puts ($23.1M), BE puts ($19.5M), IONQ puts ($18.9M), AFRM puts ($15.0M), SNOW puts ($11.5M), RIVN puts ($10.8M), ASTS puts ($9.7M), UNH puts ($9.2M), MRNA puts ($7.3M), U puts ($7.2M), TEVA puts ($7.1M), and 153 more.
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
| CUBI Customers Bancorp Inc. | New | 4.31% | +4.31 |
| OPCH Option Care Health Inc. | New | 3.75% | +3.75 |
| NTB Bank of N.T. Butterfield&son | New | 3.22% | +3.22 |
| CHE Chemed Corp. | New | 1.99% | +1.99 |
| GRBK Green Brick Partners Inc. | New | 1.89% | +1.89 |
| PM Philip Morris International | New | 1.78% | +1.78 |
| HROW Harrow Inc. | New | 1.62% | +1.62 |
| MORN Morningstar Inc. | New | 1.41% | +1.41 |
| XPEL Xpel Inc. | Add +40.0% | 5.83% | +1.18 |
| SFM Sprouts Farmers Market Inc. | New | 0.96% | +0.96 |
| YELP Yelp Inc. | Add +100.0% | 5.10% | +0.68 |
| CIB Grupo Cibest SA-ADR | Add +56.0% | 5.23% | +0.61 |
| CROX Crocs Inc. | Add +132.0% | 2.09% | +0.60 |
| TOST Toast Inc. Class A | Add +101.5% | 2.89% | +0.40 |
| KNSL Kinsale Capital Group Inc. | New | 0.31% | +0.31 |
| CDW CDW Corp. | Add +116.5% | 2.20% | +0.20 |
| MLP Maui Land & Pineapple Co. | Add +94.1% | 0.50% | +0.02 |
| NXST Nexstar Media Group Inc. | Add +58.0% | 5.90% | −0.23 |
| KSPI JSC Kaspi.kz ADR | Add +55.7% | 2.25% | −0.30 |
| WT Wisdomtree Inc. | Add +79.1% | 4.85% | −0.36 |
| NNI Nelnet Inc. Class A | Add +32.5% | 1.96% | −0.39 |
| HIFS Hingham Institution for SVGS | Add +26.4% | 2.24% | −0.53 |
| HBCP Home Bancorp Inc. | Add +33.7% | 3.16% | −0.59 |
| LNG Cheniere Energy Inc. | Add +74.3% | 5.31% | −0.90 |
| ABNB Airbnb Inc. Class A | Add +2.8% | 2.08% | −0.97 |
| TPL Texas Pacific Land Corp. | Add +45.5% | 3.84% | −0.98 |
| SAM Boston Beer Company Inc. Class A | Add +44.0% | 3.85% | −1.03 |
| BAH Booz Allen Hamilton Holdings | Add +60.0% | 4.18% | −1.04 |
| UBER Uber Technologies Inc. | Add +61.8% | 5.88% | −1.47 |
| NATH Nathan's Famous Inc. | Add +1.3% | 1.77% | −1.72 |
Options Activity Q3 2025 → Q4 2025
| PLTR Palantir Technologies Inc. Class A | put | Add +686.5% | 180,900 | $32.2M |
| BA The Boeing Co. | put | Reduce -9.4% | 106,200 | $23.1M |
| BE Bloom Energy Corp. Class A | put | Reduce -6.5% | 224,500 | $19.5M |
| IONQ Ionq Inc. | put | Add +20.8% | 421,000 | $18.9M |
| AFRM Affirm Holdings Inc. | put | Reduce -0.7% | 202,100 | $15.0M |
| SNOW Snowflake Inc. | put | Add +434.7% | 52,400 | $11.5M |
| RIVN Rivian Automotive Inc. Class A | put | Add +10.2% | 550,000 | $10.8M |
| ASTS Ast Spacemobile Inc. | put | Add +33.1% | 134,000 | $9.7M |
| UNH Unitedhealth Group Inc. | put | Reduce -29.8% | 28,000 | $9.2M |
| MRNA Moderna Inc. | put | Reduce -5.2% | 247,000 | $7.3M |
| U Unity Software Inc. | put | Reduce -11.0% | 163,300 | $7.2M |
| TEVA Teva Pharmaceutical-SP ADR | put | Reduce -8.6% | 226,700 | $7.1M |
| VSAT Viasat Inc. | put | Reduce -10.7% | 203,200 | $7.0M |
| LMND Lemonade Inc. | put | Reduce -28.9% | 95,700 | $6.8M |
| ALK Alaska Air Group Inc. | put | Add +64.1% | 128,000 | $6.4M |
| WBD Warner Bros Discovery Inc. | put | Reduce -17.7% | 221,000 | $6.4M |
| PACS Pacs Group Inc. | put | Reduce -32.9% | 165,000 | $6.3M |
| STLA Stellantis NV | put | Add +31.1% | 556,000 | $6.1M |
| KSS Kohls Corp. | put | Reduce -37.2% | 283,000 | $5.8M |
| GM General Motors Co. | put | Reduce -3.4% | 71,000 | $5.8M |
| COHR Coherent Corp. | put | Reduce -15.3% | 29,300 | $5.4M |
| AI C3.AI Inc. Class A | put | Reduce -3.9% | 397,000 | $5.4M |
| NN Nextnav Inc. | put | Reduce -2.5% | 317,000 | $5.3M |
| CRWV Coreweave Inc. Class A | put | Add +21.9% | 72,500 | $5.2M |
| OWL Blue Owl Capital Inc. | put | Add +404.6% | 328,000 | $4.9M |
| RGTI Rigetti Computing Inc. | put | Add +21.6% | 220,000 | $4.9M |
| CALY Callaway Golf Company | put | Reduce -20.0% | 377,000 | $4.4M |
| QS Quantumscape Corp. | put | Reduce -9.5% | 418,000 | $4.4M |
| TEM Tempus AI Inc. Class A | put | Add +59.8% | 69,500 | $4.1M |
| SOFI Sofi Technologies Inc. | put | Reduce -33.1% | 153,300 | $4.0M |
| MIND MEDICINE MINDMED INC | put | Add +10.7% | 296,200 | $4.0M |
| NCLH Norwegian Cruise Line Holdin | put | Reduce -4.8% | 169,400 | $3.8M |
| EXAS Exact Sciences Corp. | put | Reduce -27.0% | 36,500 | $3.7M |
| ATKR Atkore Inc. | call | Add +80.0% | 55,800 | $3.5M |
| JOBY Joby Aviation Inc. | put | Reduce -2.9% | 266,000 | $3.5M |
| BKD Brookdale Senior Living Inc. | put | Reduce -4.4% | 303,100 | $3.3M |
| CRNC Cerence Inc. | put | Add +23.1% | 304,000 | $3.2M |
| SMR Nuscale Power Corp. | put | Add +17.1% | 225,500 | $3.2M |
| NTRA Natera Inc. | put | Add +28.7% | 13,900 | $3.2M |
| BKSY Blacksky Technology Inc. | put | Add +18.4% | 161,000 | $3.0M |
| VNET Vnet Group Inc.-ADR | put | Add +61.4% | 355,000 | $3.0M |
| CZR Caesars Entertainment Inc. | put | New | 126,000 | $2.9M |
| NVDA Nvidia Corp. | put | Add +40.5% | 15,600 | $2.9M |
| CVNA Carvana Co. | put | Add +54.5% | 6,800 | $2.9M |
| APLD Applied Digital Corp. | put | Reduce -14.7% | 113,500 | $2.8M |
| SKYT Skywater Technology Inc. | put | Add +6.3% | 153,000 | $2.8M |
| SG Sweetgreen Inc. Class A | put | Reduce -4.1% | 399,900 | $2.7M |
| XIFR XPLR Infrastructure LP | put | Reduce -19.4% | 266,000 | $2.7M |
| SBGI Sinclair Inc. | call | Reduce -35.2% | 171,000 | $2.6M |
| JBLU Jetblue Airways Corp. | put | Add +94.6% | 574,000 | $2.6M |
Showing the first 50 of 184.
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 | 32 | $326.0M | TOST, UBER, TPL, CROX, LNG |
| Q1 2026 | 31 | $306.6M | UBER, ROKU, MORN, WT, BAH |
| Q4 2025 | 34 | $311.9M | NXST, UBER, XPEL, LNG, CIB |
| Q3 2025 | 26 | $185.0M | UBER, LNG, NXST, SA, ROKU |
| Q2 2025 | 25 | $169.8M | UBER, ROKU, LNG, UTHR, SAM |
| Q1 2025 | 26 | $151.6M | UBER, LNG, SAM, UTHR, ROKU |
| Q4 2024 | 33 | $149.3M | ROKU, LNG, UBER, SAM, NATH |
| Q3 2024 | 31 | $135.7M | UBER, UTHR, ROKU, LNG, NATH |
| Q2 2024 | 30 | $126.2M | UTHR, UBER, ROKU, IBKR, SAM |
| Q1 2024 | 36 | $128.0M | ATKR, UTHR, IBKR, NXST, NNI |