Dauntless Investment Group, LLC In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Dauntless Investment Group, LLC reported 53 stock positions worth $27.2 million . Its top holding was St Joe (JOE) at 9.3% of the portfolio, followed by Adecoagro (AGRO, 5.0% ) and Lincoln Educational Services (LINC, 5.0% ). Compared with Q3 2025, it opened 25 new positions, sold out of 14, added to 13 and reduced 12. The biggest buy was St Joe (JOE, shares +46% ) and the biggest sale Agnico Eagle Mines (AEM, shares −99% ).
Location Milford, MI
CIK 0002044285
Portfolio Value $27.2M (Q4 2025) Holdings 53 stocks · $27.2M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2025 JOE The St Joe Co. 42,714 $2.5M Add +46.2% AGRO Adecoagro SA 170,778 $1.4M New LINC Lincoln Educational Services 56,023 $1.4M No change AEON Aeon Biopharma Inc. 2,131,852 $1.3M Add +89.5% TLSA Tiziana Life Sciences Ltd. 1,759,782 $1.3M Reduce -35.7% JBS JBS NV-A 81,319 $1.2M Reduce -42.1% RTAC Renatus Tactical Acquisiti-A 90,461 $965K Add +25.0% MPC Marathon Petroleum Corp. 5,930 $964K New EWY iShares MSCI South Korea ETF 9,449 $919K Add +41.6% DOLE Dole PLC 61,060 $915K Add +3.0% ESTA Establishment Labs Holdings 12,495 $911K New FEMY Femasys Inc. 5,931,890 $849K Add +242.4% MRX Marex UK Holdings Ltd. filed as MAREX GROUP PLC 22,000 $844K New PBF PBF Energy Inc. Class A 30,805 $835K Add +5.3% XP XP Inc. Class A 46,696 $764K Add +132.7% OKYO Okyo Pharma Ltd. 471,523 $746K Reduce -80.5% VLO Valero Energy Corp. 4,172 $679K Reduce -23.2% TLPH Talphera Inc. 579,320 $660K Add +479.3% CGTX Cognition Therapeutics Inc. 466,000 $629K New PROF Profound Medical Corp. 75,577 $595K New ALB Albemarle Corp. 4,132 $584K New UNCY Unicycive Therapeutics Inc. 89,415 $516K New INMB Inmune Bio Inc. 304,922 $476K New UTI Universal Technical Institut 17,922 $468K New NWAX.U New America Acquisition I Co. 42,093 $438K New TVA Texas Ventures Acquisition-A 39,378 $419K Add +121.0% BBJP JPMorgan Betabuilders Japan 6,162 $406K Add +273.4% ACIU Ac Immune SA 115,677 $363K New PTCT PTC Therapeutics Inc. 4,762 $362K New NRDY Nerdy Inc. 332,141 $345K New ZURA Zura Bio Ltd. 61,010 $320K New EWT iShares MSCI Taiwan ETF 4,905 $312K Add +4.4% MUFG Mitsubishi Ufj Finl-Spon ADR 18,413 $292K No change IOBTQ Io Biotech Inc. 451,641 $275K New ICCC Immucell Corp. 39,633 $244K Reduce -54.5% AEXA American Exceptionalism Class A 19,704 $224K New STIM Neuronetics Inc. 160,927 $222K New MLP Maui Land & Pineapple Co. filed as MAUI LD & PINEAPPLE INC 7,982 $135K Add +9.9% PPLT Abrdn Physical Platinum SHRS 687 $128K Reduce -80.1% INVA Innoviva Inc. 5,539 $111K New COUR Coursera Inc. 12,602 $93K Reduce -81.9% AEM Agnico Eagle Mines Ltd. 320 $54K Reduce -98.8% ARMP Armata Pharmaceuticals Inc. 6,131 $39K New GXC State Street SPDR S&P China 336 $33K Reduce -79.8% ACON Aclarion Inc. 5,422 $25K New BDX Becton Dickinson and Co. 58 $11K Reduce -96.9% DSL Doubleline Income Solutions 326 $4K No change NAK Northern Dynasty Minerals 880 $2K Reduce -89.9% BAK Braskem SA Class A- ADR 312 $920 New KGC Kinross Gold Corp. 10 $282 New VTYX Ventyx Biosciences Inc. 1 $9 New CRVO Cervomed Inc. 1 $8 New KZIA Kazia Therapeutics-Spon ADR 1 $7 Reduce -100.0%
Options reported separately and not counted above: HYG puts ($35.8M), XBI puts ($31.1M), NVDA puts ($7.0M), GDX puts ($5.8M), FXI calls ($4.1M), ASHR calls ($4.0M), DE puts ($3.4M), TSLA puts ($2.5M), CVNA puts ($2.1M), PLTR puts ($1.4M), CRWV puts ($1.2M), KWEB calls ($524K), and 1 more.
Portfolio Sells Q3 2025 → Q4 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▲ AEM Agnico Eagle Mines Ltd. Reduce -98.8% 0.20% −11.35 TLSA Tiziana Life Sciences Ltd. Reduce -35.7% 4.67% −10.83 OKYO Okyo Pharma Ltd. Reduce -80.5% 2.74% −9.97 LCTX Lineage Cell Therapeutics Inc. Sold out 0.00% −7.16 EQX Equinox Gold Corp. Sold out 0.00% −2.54 IAG Iamgold Corp. Sold out 0.00% −2.39 COYA Coya Therapeutics Inc. Sold out 0.00% −2.29 KZIA Kazia Therapeutics-Spon ADR Reduce -100.0% 0.00% −2.23 NNI Nelnet Inc. Class A Sold out 0.00% −2.02 COUR Coursera Inc. Reduce -81.9% 0.34% −1.80 JBS JBS NV-A Reduce -42.1% 4.31% −1.19 OPCH Option Care Health Inc. Sold out 0.00% −1.01 AON Aon PLC Class A Sold out 0.00% −0.94 BDX Becton Dickinson and Co. Reduce -96.9% 0.04% −0.87 PPLT Abrdn Physical Platinum SHRS Reduce -80.1% 0.47% −0.82 ETNB 89BIO Inc. Sold out 0.00% −0.77 ICCC Immucell Corp. Reduce -54.5% 0.90% −0.53 SIVR Abrdn Physical Silver Shares Sold out 0.00% −0.51 ATAIBECKLEY INC Sold out 0.00% −0.43 GXC State Street SPDR S&P China Reduce -79.8% 0.12% −0.34 TIC Tic Solutions Inc. Sold out 0.00% −0.29 QUCY Quantum Cyber NV Sold out 0.00% −0.20 MYO Myomo Inc. Sold out 0.00% −0.13 MCGAU Yorkville Acquisition Corp. Sold out 0.00% −0.09 NAK Northern Dynasty Minerals Reduce -89.9% 0.01% −0.02 VLO Valero Energy Corp. Reduce -23.2% 2.50% +0.07
Portfolio Buys Q3 2025 → Q4 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▼ JOE The St Joe Co. Add +46.2% 9.33% +5.53 AGRO Adecoagro SA New 4.98% +4.98 MPC Marathon Petroleum Corp. New 3.55% +3.55 ESTA Establishment Labs Holdings New 3.35% +3.35 MRX Marex UK Holdings Ltd. New 3.10% +3.10 AEON Aeon Biopharma Inc. Add +89.5% 4.87% +2.49 CGTX Cognition Therapeutics Inc. New 2.31% +2.31 TLPH Talphera Inc. Add +479.3% 2.43% +2.19 PROF Profound Medical Corp. New 2.19% +2.19 ALB Albemarle Corp. New 2.15% +2.15 EWY iShares MSCI South Korea ETF Add +41.6% 3.38% +1.98 UNCY Unicycive Therapeutics Inc. New 1.90% +1.90 XP XP Inc. Class A Add +132.7% 2.81% +1.82 INMB Inmune Bio Inc. New 1.75% +1.75 UTI Universal Technical Institut New 1.72% +1.72 NWAX.U New America Acquisition I Co. New 1.61% +1.61 FEMY Femasys Inc. Add +242.4% 3.12% +1.52 RTAC Renatus Tactical Acquisiti-A Add +25.0% 3.55% +1.48 ACIU Ac Immune SA New 1.34% +1.34 PTCT PTC Therapeutics Inc. New 1.33% +1.33 DOLE Dole PLC Add +3.0% 3.37% +1.28 NRDY Nerdy Inc. New 1.27% +1.27 BBJP JPMorgan Betabuilders Japan Add +273.4% 1.49% +1.21 ZURA Zura Bio Ltd. New 1.18% +1.18 TVA Texas Ventures Acquisition-A Add +121.0% 1.54% +1.04 IOBTQ Io Biotech Inc. New 1.01% +1.01 AEXA American Exceptionalism Class A New 0.83% +0.83 STIM Neuronetics Inc. New 0.82% +0.82 PBF PBF Energy Inc. Class A Add +5.3% 3.07% +0.76 INVA Innoviva Inc. New 0.41% +0.41 EWT iShares MSCI Taiwan ETF Add +4.4% 1.15% +0.36 MLP Maui Land & Pineapple Co. Add +9.9% 0.50% +0.14 ARMP Armata Pharmaceuticals Inc. New 0.14% +0.14 ACON Aclarion Inc. New 0.09% +0.09 BAK Braskem SA Class A- ADR New 0.00% +0.00 KGC Kinross Gold Corp. New 0.00% +0.00 CRVO Cervomed Inc. New 0.00% 0.00 VTYX Ventyx Biosciences Inc. New 0.00% 0.00
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Add +21.2% 443,600 $35.8M XBI SS SPDR S&P Biotech ETF put Add +2.2% 255,400 $31.1M AAPL Apple Inc. put Sold out 44,800 $11.4Mbefore exit XLY SS Consumer Disc Select Sect put Sold out 60,800 $7.3Mbefore exit NVDA Nvidia Corp. put Add +125.3% 37,400 $7.0M META Meta Platforms Inc. Class A put Sold out 9,200 $6.8Mbefore exit GDX Vaneck Gold Miners ETF put New 67,200 $5.8M KO The Coca-Cola Co. put Sold out 77,500 $5.1Mbefore exit FXI iShares China Large-Cap ETF call Add +42.7% 108,000 $4.1M ASHR Xtrackers Harvest Csi 300 CH call Add +159.3% 120,600 $4.0M MPC Marathon Petroleum Corp. call Sold out 19,400 $3.7Mbefore exit DE Deere & Co. put Add +140.0% 7,200 $3.4M AMZN Amazon.com Inc. put Sold out 11,600 $2.5Mbefore exit TSLA Tesla Inc. put Add +189.5% 5,500 $2.5M SBUX Starbucks Corp. put Sold out 24,800 $2.1Mbefore exit CVNA Carvana Co. put New 4,900 $2.1M OKLO Oklo Inc. put Sold out 12,400 $1.4Mbefore exit PLTR Palantir Technologies Inc. Class A put Reduce -83.1% 7,700 $1.4M IONQ Ionq Inc. put Sold out 19,700 $1.2Mbefore exit CRWV Coreweave Inc. Class A put Reduce -42.5% 16,800 $1.2M AFRM Affirm Holdings Inc. put Sold out 16,400 $1.2Mbefore exit ORCL Oracle Corp. put Sold out 4,100 $1.2Mbefore exit KWEB Kranesh Csi China Internet call Reduce -25.6% 15,400 $524K HIMS Hims & Hers Health Inc. put Sold out 6,100 $346Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025 Security Class Change vs Q3 2025 Shares / Principal Value ▼ AXSM Axsome Therapeutics Inc. COM New 0 $0 BBIO Bridgebio Pharma Inc. COM New 0 $0 KRYS Krystal Biotech Inc. COM New 0 $0 MDGL Madrigal Pharmaceuticals Inc. COM New 0 $0 VGSH Vanguard Short-Term Treasury SHORT TERM TREAS New 0 $0
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 64 $57.7M AEON, FEMY, KZIA, VLO, JOE Q1 2026 61 $35.6M INVA, FEMY, TLSA, AEON, LINC Q4 2025 53 $27.2M JOE, AGRO, LINC, AEON, TLSA Q3 2025 42 $38.1M TLSA, OKYO, AEM, LCTX, JBS Q2 2025 61 $21.3M TLSA, OKYO, JOE, ATYR, FEMY Q1 2025 46 $27.1M OKYO, FEMY, TLSA, NAK, LINC Q4 2024 50 $23.7M LINC, NAK, AGRO, MYO, INMB