Engle Capital Management, L.P.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Engle Capital Management, L.P. reported 23 stock positions worth $283.5 million. Its top holding was Talen Energy (TLN) at 12.7% of the portfolio, followed by BBB Foods Class A (TBBB, 7.0%) and Qxo (QXO, 6.0%). Compared with Q2 2025, it opened 8 new positions, sold out of 10, added to 7 and reduced 8. The biggest buy was Talen Energy (TLN, shares +7%) and the biggest sale an exit from Kyndryl (KD).
- Most Recent 13F
- Q2 2026
- Location
- GREENWICH, CT
- CIK
- 0001684868
- Portfolio Value
- $283.5M (Q3 2025)
- SEC Filing
- 0001385642-25-000012 ↗ filed Nov 14, 2025
Holdings Value
Holdings 23 stocks · $283.5M
| TLN Talen Energy Corp. | 12.65% | 84,338 | $35.9M | Add +6.8% |
| TBBB BBB Foods Inc. Class A | 7.01% | 736,769 | $19.9M | Add +1.3% |
| QXO Qxo Inc. | 6.02% | 895,954 | $17.1M | Add +5.4% |
| VST Vistra Corp. | 5.89% | 85,182 | $16.7M | Add +321.7% |
| CVNA Carvana Co. | 5.78% | 43,456 | $16.4M | Add +28.6% |
| EYE National Vision Holdings Inc. | 5.58% | 541,898 | $15.8M | Reduce -12.6% |
| ROAD Construction Partners Inc. Class A | 5.46% | 121,974 | $15.5M | Reduce -9.7% |
| SN Sharkninja Inc. | 5.43% | 149,360 | $15.4M | Add +33.4% |
| AER Aercap Holdings NV | 5.22% | 122,257 | $14.8M | Reduce -45.7% |
| BILL Bill Holdings Inc. | 4.31% | 230,500 | $12.2M | New |
| ACVA Acv Auctions Inc. Class A | 4.24% | 1,213,329 | $12.0M | Add +2.0% |
| WIX Wix.com Ltd. | 4.24% | 67,600 | $12.0M | New |
| MRX Marex UK Holdings Ltd. filed as MAREX GROUP PLC | 3.91% | 330,119 | $11.1M | Reduce -18.6% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 3.74% | 662,796 | $10.6M | Reduce -32.9% |
| BABA Alibaba Group Holding-SP ADR | 3.06% | 48,500 | $8.7M | New |
| STEP Stepstone Group Inc. Class A | 2.93% | 127,000 | $8.3M | New |
| REZI Resideo Technologies Inc. | 2.86% | 187,700 | $8.1M | New |
| CNP Centerpoint Energy Inc. | 2.82% | 206,100 | $8.0M | New |
| KKR KKR & Co. Inc. | 2.61% | 56,991 | $7.4M | Reduce -47.0% |
| CEG Constellation Energy | 2.02% | 17,413 | $5.7M | Reduce -2.2% |
| COMP Compass Inc. Class A | 1.45% | 512,000 | $4.1M | New |
| APO Apollo Global Management Inc. | 1.41% | 29,947 | $4.0M | Reduce -54.2% |
| AMRZ Amrize Ltd. | 1.36% | 79,300 | $3.8M | New |
Portfolio Sells Q2 2025 → Q3 2025
| KD Kyndryl Holdings Inc. | Sold out | 0.00% | −8.71 |
| GDDY GoDaddy Inc. Class A | Sold out | 0.00% | −7.44 |
| ALL Allstate Corp. | Sold out | 0.00% | −4.52 |
| KNSL Kinsale Capital Group Inc. | Sold out | 0.00% | −2.95 |
| AER Aercap Holdings NV | Reduce -45.7% | 5.22% | −2.72 |
| SKWD Skyward Specialty Insurance | Sold out | 0.00% | −2.32 |
| PGR Progressive Corp. | Sold out | 0.00% | −2.26 |
| NRG NRG Energy Inc. | Sold out | 0.00% | −1.87 |
| KKR KKR & Co. Inc. | Reduce -47.0% | 2.61% | −1.70 |
| APO Apollo Global Management Inc. | Reduce -54.2% | 1.41% | −1.39 |
| FLG Flagstar Bank NA | Sold out | 0.00% | −1.37 |
| EQT Eqt Corp. | Sold out | 0.00% | −1.35 |
| MRX Marex UK Holdings Ltd. | Reduce -18.6% | 3.91% | −0.91 |
| ASIC Ategrity Specialty Holdings | Sold out | 0.00% | −0.59 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -32.9% | 3.74% | −0.34 |
| CEG Constellation Energy | Reduce -2.2% | 2.02% | +0.29 |
| ROAD Construction Partners Inc. Class A | Reduce -9.7% | 5.46% | +1.14 |
| EYE National Vision Holdings Inc. | Reduce -12.6% | 5.58% | +1.28 |
Portfolio Buys Q2 2025 → Q3 2025
| TLN Talen Energy Corp. | Add +6.8% | 12.65% | +5.73 |
| VST Vistra Corp. | Add +321.7% | 5.89% | +4.71 |
| BILL Bill Holdings Inc. | New | 4.31% | +4.31 |
| WIX Wix.com Ltd. | New | 4.24% | +4.24 |
| BABA Alibaba Group Holding-SP ADR | New | 3.06% | +3.06 |
| STEP Stepstone Group Inc. Class A | New | 2.93% | +2.93 |
| REZI Resideo Technologies Inc. | New | 2.86% | +2.86 |
| CNP Centerpoint Energy Inc. | New | 2.82% | +2.82 |
| CVNA Carvana Co. | Add +28.6% | 5.78% | +2.35 |
| SN Sharkninja Inc. | Add +33.4% | 5.43% | +2.09 |
| COMP Compass Inc. Class A | New | 1.45% | +1.45 |
| AMRZ Amrize Ltd. | New | 1.36% | +1.36 |
| TBBB BBB Foods Inc. Class A | Add +1.3% | 7.01% | +0.92 |
| QXO Qxo Inc. | Add +5.4% | 6.02% | +0.50 |
| ACVA Acv Auctions Inc. Class A | Add +2.0% | 4.24% | −1.58 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 20 | $364.1M | WULF, CDNL, ROAD, TBBB, LGN |
| Q1 2026 | 22 | $293.5M | WULF, LGN, TBBB, ROAD, AER |
| Q4 2025 | 27 | $259.1M | TLN, TBBB, LGN, ROAD, VST |
| Q3 2025 | 23 | $283.5M | TLN, TBBB, QXO, VST, CVNA |
| Q2 2025 | 25 | $331.6M | KD, AER, GDDY, TLN, TBBB |
| Q1 2025 | 22 | $240.3M | GDDY, AER, KD, ACVA, ALL |
| Q4 2024 | 24 | $334.2M | KD, TLN, GDDY, SN, WK |
| Q3 2024 | 20 | $340.1M | TLN, SN, ACVA, FISV, TBBB |
| Q2 2024 | 21 | $295.8M | SN, NVT, ACVA, KKR, NU |
| Q1 2024 | 28 | $358.7M | SN, ACVA, VRT, NVT, TBBB |