Elwood Capital Partners LP

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Elwood Capital Partners LP reported 21 stock positions worth $117.0 million. Its top holding was Amazon.com (AMZN) at 14.2% of the portfolio, followed by Microsoft (MSFT, 10.4%) and Taiwan Semiconductor-SP ADR (TSM, 9.1%). Compared with Q3 2025, it opened 6 new positions, sold out of 2, added to 7 and reduced 5. The biggest buy was a new position in Boeing (BA) and the biggest sale Unitedhealth (UNH, shares −50%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0002050159
Portfolio Value
$117.0M (Q4 2025)
SEC Filing
0001420506-26-000382 ↗ filed Feb 13, 2026

Holdings Value

0$50.0M$100.0M$150.0M Q4 2024: $70.8M Q4 2024 Q1 2025: $82.5M Q1 2025 Q2 2025: $107.9M Q2 2025 Q3 2025: $109.3M Q3 2025 Q4 2025: $117.0M $117.0M Q4 2025 Q1 2026: $103.6M Q1 2026 Q2 2026: $137.1M Q2 2026

Holdings 21 stocks · $117.0M
AMZN Amazon.com Inc. 14.18% 71,868 $16.6M Add +14.3%
MSFT Microsoft Corp. 10.44% 25,243 $12.2M No change
TSM Taiwan Semiconductor-SP ADR 9.10% 35,010 $10.6M Reduce -22.2%
RTO Rentokil Initial PLC-SP ADR 6.93% 275,319 $8.1M Add +5.8%
PLNT Planet Fitness Inc. Class A 6.49% 70,008 $7.6M No change
RDDT Reddit Inc. Class A 5.92% 30,146 $6.9M Add +49.6%
SGI Somnigroup International Inc. 5.37% 70,388 $6.3M Reduce -13.8%
LPX Louisiana-Pacific Corp. 5.18% 75,000 $6.1M Add +87.5%
TXN Texas Instruments Inc. 5.05% 34,058 $5.9M Add +16.2%
UNH Unitedhealth Group Inc. 4.95% 17,528 $5.8M Reduce -50.0%
WIX Wix.com Ltd. 4.62% 52,033 $5.4M Add +30.0%
TEAM Atlassian Corp. Class A 3.56% 25,666 $4.2M Add +23.0%
BA The Boeing Co. 2.78% 15,000 $3.3M New
GTLB Gitlab Inc. Class A 2.73% 85,000 $3.2M New
GOOGL Alphabet Inc. Class A 2.68% 10,000 $3.1M New
TTWO Take-Two Interactive Softwre 2.54% 11,612 $3.0M No change
MSCI MSCI Inc. 2.45% 5,000 $2.9M New
PM Philip Morris International 2.06% 15,011 $2.4M Reduce -47.8%
RKT Rocket Cos Inc. Class A 1.24% 75,000 $1.5M New
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 1.11% 5,000 $1.3M New
PCOR Procore Technologies Inc. 0.62% 10,026 $729K Reduce -56.9%

Options reported separately and not counted above: UNH calls ($20.6M), SPY puts ($17.0M), TSM puts ($7.6M), UNH puts ($5.8M).

Portfolio Sells Q3 2025 → Q4 2025
UNH Unitedhealth Group Inc. Reduce -50.0% 4.95% −6.12
TSM Taiwan Semiconductor-SP ADR Reduce -22.2% 9.10% −2.40
BKR Baker Hughes Co. Sold out 0.00% −2.23
PM Philip Morris International Reduce -47.8% 2.06% −2.21
BBWI Bath & Body Works Inc. Sold out 0.00% −1.15
PCOR Procore Technologies Inc. Reduce -56.9% 0.62% −0.93
SGI Somnigroup International Inc. Reduce -13.8% 5.37% −0.92

Portfolio Buys Q3 2025 → Q4 2025
BA The Boeing Co. New 2.78% +2.78
GTLB Gitlab Inc. Class A New 2.73% +2.73
GOOGL Alphabet Inc. Class A New 2.68% +2.68
MSCI MSCI Inc. New 2.45% +2.45
LPX Louisiana-Pacific Corp. Add +87.5% 5.18% +1.93
RDDT Reddit Inc. Class A Add +49.6% 5.92% +1.69
AMZN Amazon.com Inc. Add +14.3% 14.18% +1.56
RKT Rocket Cos Inc. Class A New 1.24% +1.24
AJG Arthur J Gallagher & Co. New 1.11% +1.11
RTO Rentokil Initial PLC-SP ADR Add +5.8% 6.93% +0.92
TEAM Atlassian Corp. Class A Add +23.0% 3.56% +0.51
TXN Texas Instruments Inc. Add +16.2% 5.05% +0.13
WIX Wix.com Ltd. Add +30.0% 4.62% −1.88

Options Activity Q3 2025 → Q4 2025
UNH Unitedhealth Group Inc. call Add +47.1% 62,500 $20.6M
SPY SS SPDR S&P 500 ETF Trust-US put New 25,000 $17.0M
STATE STR SPDR S&P 500 ETF T put Sold out 25,000 $16.7Mbefore exit
TSM Taiwan Semiconductor-SP ADR put Reduce -41.2% 25,000 $7.6M
UNH Unitedhealth Group Inc. put Reduce -46.1% 17,500 $5.8M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 27$137.1MAMZN, TSM, UNH, SGI, TXN
Q1 2026 27$103.6MAMZN, TSM, MSFT, RTO, SGI
Q4 2025 21$117.0MAMZN, MSFT, TSM, RTO, PLNT
Q3 2025 17$109.3MAMZN, MSFT, TSM, UNH, PLNT
Q2 2025 18$107.9MMSFT, AMZN, UNH, TSM, RDDT
Q1 2025 18$82.5MUNH, MSFT, AMZN, SGI, PLNT
Q4 2024 21$70.8MMSFT, AMZN, TSM, PM, SGI