Dumac, Inc.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Dumac, Inc. reported 10 stock positions worth $64.8 million. Its top holding was Universal Technical Institut (UTI) at 66.7% of the portfolio, followed by iShares MSCI India ETF (INDA, 8.6%) and Despegar.com (DESP, 7.5%). Compared with Q3 2024, it opened 2 new positions, sold out of 1, added to 2 and reduced 1. The biggest buy was a new position in Universal Technical Institut (UTI) and the biggest sale an exit from Rigel Resource Acquisit Class A (RRACF).

Most Recent 13F
Q2 2026
Location
DURHAM, NC
CIK
0001584258
Portfolio Value
$64.8M (Q4 2024)
SEC Filing
0001085146-25-001650 ↗ filed Feb 14, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $27.4M Q1 2024 Q2 2024: $31.2M Q2 2024 Q3 2024: $30.6M Q3 2024 Q4 2024: $64.8M $64.8M Q4 2024 Q1 2025: $25.1M Q1 2025 Q2 2025: $15.9M Q2 2025 Q4 2025: $651.0M Q4 2025 Q1 2026: $820.4M Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 10 stocks · $64.8M
UTI Universal Technical Institut 66.73% 1,681,681 $43.2M New
INDA iShares MSCI India ETF 8.61% 106,000 $5.6M No change
DESP Despegar.com Corp. 7.54% 253,762 $4.9M Add +16.5%
MMYT Makemytrip Ltd. 6.99% 40,353 $4.5M No change
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 4.61% 31,510 $3.0M Add +24.3%
ZTO Zto Express Cayman Inc.-ADR 2.92% 96,781 $1.9M No change
SGMT Sagimet Biosciences Inc. Class A 1.14% 163,514 $736K Reduce -13.7%
ARCO Arcos Dorados Holdings Inc. Class A 0.68% 60,857 $443K No change
IHS Ihs Holding Ltd. 0.50% 112,000 $327K No change
ACHV Achieve Life Sciences Inc. 0.27% 50,000 $176K New

Portfolio Sells Q3 2024 → Q4 2024
RRACF Rigel Resource Acquisit Class A Sold out 0.00% −37.54
SGMT Sagimet Biosciences Inc. Class A Reduce -13.7% 1.14% −0.58

Portfolio Buys Q3 2024 → Q4 2024
UTI Universal Technical Institut New 66.73% +66.73
ACHV Achieve Life Sciences Inc. New 0.27% +0.27
DESP Despegar.com Corp. Add +16.5% 7.54% −1.28
KSPI JSC Kaspi.kz ADR Add +24.3% 4.61% −4.17

Notes & Other Activity Q3 2024 → Q4 2024
RRAWF Rigel Resource Acquisi -CW23 *W EXP 99/99/999 Sold out 500,000 $175Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 16$1.1BVOO, SCHH, NVDA, GOOGL, INDA
Q1 2026 10$820.4MVOO, SCHH, INDA, ZTO, KSPI
Q4 2025 10$651.0MVOO, SCHH, INDA, MMYT, KSPI
Q2 2025 7$15.9MINDA, MMYT, KSPI, ZTO, IHS
Q1 2025 9$25.1MINDA, DESP, RBRK, MMYT, KSPI
Q4 2024 10$64.8MUTI, INDA, DESP, MMYT, KSPI
Q3 2024 9$30.6MRRACF, INDA, MMYT, DESP, KSPI
Q2 2024 10$31.2MRRACF, INDA, MMYT, KSPI, DESP
Q1 2024 10$27.4MRRACF, CMRC, KSPI, MMYT, DESP