Findell Capital Management LLC In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Findell Capital Management LLC reported 12 stock positions worth $606.6 million . Its top holding was Liquidia (LQDA) at 46.0% of the portfolio, followed by Establishment Labs (ESTA, 15.5% ) and Dave (DAVE, 8.9% ). Compared with Q1 2026, it opened 2 new positions, sold out of 7, added to 7 and reduced 2. The biggest buy was a new position in Figma Class A (FIG) and the biggest sale an exit from Cenovus Energy (CVE).
Location New York, NY
CIK 0001814465
Portfolio Value $606.6M (Q2 2026) Holdings 12 stocks · $606.6M 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 Q1 2026 LQDA Liquidia Corp. 3,502,112 $279.2M No change ESTA Establishment Labs Holdings 1,096,000 $94.0M Add +9.8% DAVE Dave Inc. 145,000 $54.0M Reduce -14.7% SGHC Super Group SGHC Ltd. 2,100,000 $28.5M Add +40.0% ROOT Root Inc./Oh Class A 460,000 $25.7M Add +22.7% ABVX Abivax SA-ADR 185,000 $24.7M Add +76.2% GEO The Geo Group Inc. 800,000 $23.6M Reduce -8.6% CELH Celsius Holdings Inc. 750,000 $22.0M Add +275.0% OPRT Oportun Financial Corp. 2,798,300 $16.0M Add +1.8% TPB Turning Point Brands Inc. 170,000 $14.4M Add +79.0% FIG Figma Inc. Class A 745,000 $13.5M New RKT Rocket Cos Inc. Class A 700,000 $11.0M New
Options reported separately and not counted above: LQDA puts ($103.7M).
Portfolio Sells Q1 2026 → Q2 2026 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 Q1 2026 % Of Portfolio Change To Portfolio ▲ CVE Cenovus Energy Inc. Sold out 0.00% −2.93 ACHC Acadia Healthcare Co. Inc. Sold out 0.00% −2.62 MLYS Mineralys Therapeutics Inc. Sold out 0.00% −1.61 VET Vermilion Energy Inc. Sold out 0.00% −1.50 APLD Applied Digital Corp. Sold out 0.00% −1.19 GEO The Geo Group Inc. Reduce -8.6% 3.90% −0.43 BTU Peabody Energy Corp. Sold out 0.00% −0.08 EHTH Ehealth Inc. Sold out 0.00% −0.07 DAVE Dave Inc. Reduce -14.7% 8.91% +0.19
Portfolio Buys Q1 2026 → Q2 2026 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 Q1 2026 % Of Portfolio Change To Portfolio ▼ FIG Figma Inc. Class A New 2.22% +2.22 RKT Rocket Cos Inc. Class A New 1.82% +1.82 CELH Celsius Holdings Inc. Add +275.0% 3.62% +1.53 ABVX Abivax SA-ADR Add +76.2% 4.06% +0.62 TPB Turning Point Brands Inc. Add +79.0% 2.38% −0.05 SGHC Super Group SGHC Ltd. Add +40.0% 4.69% −0.08 ROOT Root Inc./Oh Class A Add +22.7% 4.24% −0.64 OPRT Oportun Financial Corp. Add +1.8% 2.63% −1.10 ESTA Establishment Labs Holdings Add +9.8% 15.50% −1.18
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ LQDA Liquidia Corp. put New 1,300,100 $103.7M LQDA Liquidia Corp. call Sold out 50,000 $1.9Mbefore 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 12 $606.6M LQDA, ESTA, DAVE, SGHC, ROOT Q1 2026 17 $339.5M LQDA, ESTA, DAVE, ROOT, SGHC Q4 2025 15 $301.0M LQDA, ESTA, ROOT, DAVE, TPB Q3 2025 14 $219.0M LQDA, ESTA, OPRT, ODP, GEO Q2 2025 11 $204.1M ESTA, LQDA, ODP, OPRT, GEO Q1 2025 13 $208.0M ESTA, LQDA, GEO, OPRT, VAL Q4 2024 15 $208.7M ESTA, LQDA, GEO, DAVA, OPRT Q3 2024 16 $179.9M ESTA, LQDA, APLD, VAL, GTM Q2 2024 13 $185.0M ESTA, LQDA, VAL, NE, EXEL Q1 2024 13 $169.4M ESTA, LQDA, VAL, NE, VET