Engle Capital Management, L.P.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Engle Capital Management, L.P. reported 27 stock positions worth $259.1 million. Its top holding was Talen Energy (TLN) at 11.1% of the portfolio, followed by BBB Foods Class A (TBBB, 9.7%) and Legence Class A (LGN, 9.3%). Compared with Q3 2025, it opened 14 new positions, sold out of 10, added to 6 and reduced 7. The biggest buy was a new position in Legence Class A (LGN) and the biggest sale an exit from National Vision (EYE).
- Most Recent 13F
- Q2 2026
- Location
- GREENWICH, CT
- CIK
- 0001684868
- Portfolio Value
- $259.1M (Q4 2025)
- SEC Filing
- 0001385642-26-000002 ↗ filed Feb 17, 2026
Holdings Value
Holdings 27 stocks · $259.1M
| TLN Talen Energy Corp. | 11.14% | 77,000 | $28.9M | Reduce -8.7% |
| TBBB BBB Foods Inc. Class A | 9.66% | 750,000 | $25.0M | Add +1.8% |
| LGN Legence Corp. Class A | 9.28% | 559,000 | $24.1M | New |
| ROAD Construction Partners Inc. Class A | 7.75% | 185,000 | $20.1M | Add +51.7% |
| VST Vistra Corp. | 6.85% | 110,000 | $17.7M | Add +29.1% |
| AER Aercap Holdings NV | 6.66% | 120,000 | $17.3M | Reduce -1.9% |
| CNP Centerpoint Energy Inc. | 5.10% | 345,000 | $13.2M | Add +67.4% |
| COMP Compass Inc. Class A | 4.33% | 1,062,000 | $11.2M | Add +107.4% |
| META Meta Platforms Inc. Class A | 4.32% | 16,971 | $11.2M | New |
| STEP Stepstone Group Inc. Class A | 3.22% | 130,000 | $8.3M | Add +2.4% |
| MRX Marex UK Holdings Ltd. filed as MAREX GROUP PLC | 2.83% | 190,900 | $7.3M | Reduce -42.2% |
| PPL PPL Corp. | 2.70% | 200,000 | $7.0M | New |
| FIX Comfort Systems USA Inc. | 2.70% | 7,500 | $7.0M | New |
| QXO Qxo Inc. | 2.66% | 358,000 | $6.9M | Reduce -60.0% |
| GOOGL Alphabet Inc. Class A | 2.66% | 22,000 | $6.9M | New |
| HLNE Hamilton Lane Inc. Class A | 2.59% | 50,000 | $6.7M | New |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 2.54% | 393,000 | $6.6M | Reduce -40.7% |
| WULF Terawulf Inc. | 1.94% | 437,500 | $5.0M | New |
| C Citigroup Inc. | 1.89% | 42,000 | $4.9M | New |
| BILL Bill Holdings Inc. | 1.64% | 78,000 | $4.3M | Reduce -66.2% |
| CCJ Cameco Corp. | 1.63% | 46,230 | $4.2M | New |
| FLS Flowserve Corp. | 1.50% | 56,000 | $3.9M | New |
| CDNL Cardinal Infrastructure GR-A | 1.22% | 131,000 | $3.2M | New |
| STRL Sterling Infrastructure Inc. | 1.22% | 10,333 | $3.2M | New |
| CVNA Carvana Co. | 0.98% | 6,000 | $2.5M | Reduce -86.2% |
| APLD Applied Digital Corp. | 0.57% | 59,900 | $1.5M | New |
| CIFR Cipher Digital Inc. | 0.41% | 71,800 | $1.1M | New |
Portfolio Sells Q3 2025 → Q4 2025
| EYE National Vision Holdings Inc. | Sold out | 0.00% | −5.58 |
| SN Sharkninja Inc. | Sold out | 0.00% | −5.43 |
| CVNA Carvana Co. | Reduce -86.2% | 0.98% | −4.81 |
| ACVA Acv Auctions Inc. Class A | Sold out | 0.00% | −4.24 |
| WIX Wix.com Ltd. | Sold out | 0.00% | −4.24 |
| QXO Qxo Inc. | Reduce -60.0% | 2.66% | −3.36 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −3.06 |
| REZI Resideo Technologies Inc. | Sold out | 0.00% | −2.86 |
| BILL Bill Holdings Inc. | Reduce -66.2% | 1.64% | −2.67 |
| KKR KKR & Co. Inc. | Sold out | 0.00% | −2.61 |
| CEG Constellation Energy | Sold out | 0.00% | −2.02 |
| TLN Talen Energy Corp. | Reduce -8.7% | 11.14% | −1.52 |
| APO Apollo Global Management Inc. | Sold out | 0.00% | −1.41 |
| AMRZ Amrize Ltd. | Sold out | 0.00% | −1.36 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -40.7% | 2.54% | −1.20 |
| MRX Marex UK Holdings Ltd. | Reduce -42.2% | 2.83% | −1.09 |
| AER Aercap Holdings NV | Reduce -1.9% | 6.66% | +1.44 |
Portfolio Buys Q3 2025 → Q4 2025
| LGN Legence Corp. Class A | New | 9.28% | +9.28 |
| META Meta Platforms Inc. Class A | New | 4.32% | +4.32 |
| COMP Compass Inc. Class A | Add +107.4% | 4.33% | +2.88 |
| PPL PPL Corp. | New | 2.70% | +2.70 |
| FIX Comfort Systems USA Inc. | New | 2.70% | +2.70 |
| GOOGL Alphabet Inc. Class A | New | 2.66% | +2.66 |
| TBBB BBB Foods Inc. Class A | Add +1.8% | 9.66% | +2.66 |
| HLNE Hamilton Lane Inc. Class A | New | 2.59% | +2.59 |
| ROAD Construction Partners Inc. Class A | Add +51.7% | 7.75% | +2.29 |
| CNP Centerpoint Energy Inc. | Add +67.4% | 5.10% | +2.28 |
| WULF Terawulf Inc. | New | 1.94% | +1.94 |
| C Citigroup Inc. | New | 1.89% | +1.89 |
| CCJ Cameco Corp. | New | 1.63% | +1.63 |
| FLS Flowserve Corp. | New | 1.50% | +1.50 |
| CDNL Cardinal Infrastructure GR-A | New | 1.22% | +1.22 |
| STRL Sterling Infrastructure Inc. | New | 1.22% | +1.22 |
| VST Vistra Corp. | Add +29.1% | 6.85% | +0.96 |
| APLD Applied Digital Corp. | New | 0.57% | +0.57 |
| CIFR Cipher Digital Inc. | New | 0.41% | +0.41 |
| STEP Stepstone Group Inc. Class A | Add +2.4% | 3.22% | +0.29 |
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 |