In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), EVR Research LP reported 30 stock positions worth $221.4 million . Its top holding was Couchbase (BASE) at 18.1% of the portfolio, followed by World Kinect (WKC, 9.1% ) and Alight Class A (ALIT, 7.5% ). Compared with Q4 2024, it opened 9 new positions, sold out of 16, added to 10 and reduced 10. The biggest buy was Pros (PRO, shares +940% ) and the biggest sale an exit from Orion (OEC).
Location RICHMOND, VA
CIK 0001843019
Portfolio Value $221.4M (Q1 2025) Holdings 30 stocks · $221.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 BASE Couchbase Inc. 2,550,000 $40.2M Reduce -1.5% WKC World Kinect Corp. 710,000 $20.1M No change ALIT Alight Inc. Class A 2,810,239 $16.7M Add +23.3% PRO Pros Holdings Inc. 727,822 $13.9M Add +939.8% BLBD Blue Bird Corp. 425,000 $13.8M Add +3.7% WTTR Select Water Solutions Inc. 920,000 $9.7M New TWI Titan International Inc. 1,100,000 $9.2M New GPN Global Payments Inc. 90,000 $8.8M Reduce -25.0% NWL Newell Brands Inc. 1,400,000 $8.7M Add +27.3% JAMF Jamf Holding Corp. filed as JAMF HLDG CORP 700,000 $8.5M Reduce -46.6% DAN Dana Inc. 630,000 $8.4M New KMX Carmax Inc. 90,000 $7.0M Reduce -55.0% GTES Gates Industrial Corp. UK Ltd. 370,000 $6.8M Reduce -22.9% ASTS Ast Spacemobile Inc. 290,000 $6.6M New DG Dollar General Corp. 70,000 $6.2M New GDRX Goodrx Holdings Inc. Class A 1,300,000 $5.7M Add +243.3% LPRO Open Lending Corp. 2,075,000 $5.7M Add +2.2% ECVT Ecovyst Inc. 850,000 $5.3M Reduce -15.0% TITN Titan Machinery Inc. 180,000 $3.1M New UFPT Ufp Technologies Inc. 14,823 $3.0M Reduce -17.6% AI C3.AI Inc. Class A 132,900 $2.8M Reduce -48.5% SCHL Scholastic Corp. 130,000 $2.5M Add +8.3% DBD Diebold Nixdorf Inc. 55,667 $2.4M New SMR Nuscale Power Corp. 140,000 $2.0M Add +180.0% EOSE Eos Energy Enterprises Inc. 420,000 $1.6M Add +2.4% STHO Star Holdings filed as STAR HLDGS 110,000 $936K Add +10.0% GDOT Green Dot Corp. Class A 100,000 $844K New SSTI Soundthinking Inc. 33,520 $568K Reduce -90.1% RDW Redwire Corp. 47,919 $397K New VUZI Vuzix Corp. 100,000 $204K Reduce -44.4%
Options reported separately and not counted above: SPY puts ($67.1M), IWM puts ($49.9M), JAMF HLDG CORP calls ($6.4M), DANA INC calls ($5.3M), OPEN LENDING CORP calls ($3.4M).
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ OEC Orion SA Sold out 0.00% −4.27 VSXY Victoria's Secret & Co. Sold out 0.00% −3.92 NGVT Ingevity Corp. Sold out 0.00% −3.86 SMAR Smartsheet Inc. Class A Sold out 0.00% −3.68 RUN Sunrun Inc. Sold out 0.00% −2.50 JAMF Jamf Holding Corp. Reduce -46.6% 3.84% −2.38 KMX Carmax Inc. Reduce -55.0% 3.17% −2.36 OUST Ouster Inc. Sold out 0.00% −1.81 AI C3.AI Inc. Class A Reduce -48.5% 1.26% −1.74 IONQ Ionq Inc. Sold out 0.00% −1.55 GO Grocery Outlet Holding Corp. Sold out 0.00% −1.45 ENFN Enfusion Inc. Class A Sold out 0.00% −1.39 SSTI Soundthinking Inc. Reduce -90.1% 0.26% −1.25 VRNS Varonis Systems Inc. Sold out 0.00% −1.05 RGTI Rigetti Computing Inc. Sold out 0.00% −0.90 SEB Seaboard Corp. Sold out 0.00% −0.82 MAT Mattel Inc. Sold out 0.00% −0.72 QBTS D-Wave Quantum Inc. Sold out 0.00% −0.66 GPN Global Payments Inc. Reduce -25.0% 3.98% −0.57 DBI Designer Brands Inc. Class A Sold out 0.00% −0.47 SRI Stoneridge Inc. Sold out 0.00% −0.42 GTES Gates Industrial Corp. UK Ltd. Reduce -22.9% 3.08% −0.26 ECVT Ecovyst Inc. Reduce -15.0% 2.38% −0.20 VUZI Vuzix Corp. Reduce -44.4% 0.09% −0.15 UFPT Ufp Technologies Inc. Reduce -17.6% 1.35% −0.14 BASE Couchbase Inc. Reduce -1.5% 18.14% +4.48
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ PRO Pros Holdings Inc. Add +939.8% 6.26% +5.74 WTTR Select Water Solutions Inc. New 4.36% +4.36 TWI Titan International Inc. New 4.17% +4.17 DAN Dana Inc. New 3.79% +3.79 ASTS Ast Spacemobile Inc. New 2.98% +2.98 DG Dollar General Corp. New 2.78% +2.78 ALIT Alight Inc. Class A Add +23.3% 7.53% +2.19 GDRX Goodrx Holdings Inc. Class A Add +243.3% 2.59% +1.99 TITN Titan Machinery Inc. New 1.39% +1.39 DBD Diebold Nixdorf Inc. New 1.10% +1.10 BLBD Blue Bird Corp. Add +3.7% 6.21% +0.86 SMR Nuscale Power Corp. Add +180.0% 0.90% +0.59 GDOT Green Dot Corp. Class A New 0.38% +0.38 SCHL Scholastic Corp. Add +8.3% 1.11% +0.24 NWL Newell Brands Inc. Add +27.3% 3.92% +0.21 RDW Redwire Corp. New 0.18% +0.18 STHO Star Holdings Add +10.0% 0.42% +0.09 EOSE Eos Energy Enterprises Inc. Add +2.4% 0.72% +0.04 LPRO Open Lending Corp. Add +2.2% 2.59% −1.51
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put New 120,000 $67.1M IWM iShares Russell 2000 ETF put New 250,000 $49.9M JAMF HLDG CORP call New 530,000 $6.4M DANA INC call New 400,000 $5.3M OPEN LENDING CORP call New 1,220,000 $3.4M DAVE & BUSTERS ENTMT INC call Sold out 100,000 $2.9Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 28 $202.5M WKC, GEF, MEC, SON, SARO Q1 2026 29 $175.6M WKC, CPS, FND, MEC, GEF Q4 2025 33 $185.3M DAN, WKC, CPS, GEF, MEC Q3 2025 26 $167.2M PRO, DAN, WKC, JAMF, WTTR Q2 2025 27 $191.0M PRO, WKC, ASTS, DAN, TWI Q1 2025 30 $221.4M BASE, WKC, ALIT, PRO, BLBD Q4 2024 37 $295.6M BASE, WKC, JAMF, KMX, BLBD Q3 2024 33 $395.1M SMAR, BASE, JAMF, GPN, VRNS Q2 2024 31 $334.8M BASE, SMAR, JAMF, WKC, ALIT Q1 2024 31 $446.4M BASE, PLAY, BLBD, WKME, ECVT