Findell Capital Management LLC In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Findell Capital Management LLC reported 16 stock positions worth $179.9 million . Its top holding was Establishment Labs (ESTA) at 24.7% of the portfolio, followed by Liquidia (LQDA, 17.8% ) and Applied Digital (APLD, 6.4% ). Compared with Q2 2024, it opened 5 new positions, sold out of 2, added to 4 and reduced 6. The biggest buy was a new position in Applied Digital (APLD) and the biggest sale Valaris (VAL, shares −32% ).
Location New York, NY
CIK 0001814465
Portfolio Value $179.9M (Q3 2024) Holdings 16 stocks · $179.9M 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 Q2 2024 ESTA Establishment Labs Holdings 1,028,100 $44.5M Reduce -7.5% LQDA Liquidia Corp. 3,193,539 $31.9M Add +33.1% APLD Applied Digital Corp. 1,400,000 $11.6M New VAL Valaris Ltd. 195,000 $10.9M Reduce -31.6% GTM Zoominfo Technologies Inc. 1,000,000 $10.3M Add +17.6% DAVA Endava PLC- Spon ADR 390,000 $10.0M Add +25.8% OPRT Oportun Financial Corp. 3,469,600 $9.7M No change NE Noble Corp. PLC 255,000 $9.2M Reduce -22.7% NMM Navios Maritime Partners LP 130,000 $8.1M New EXEL Exelixis Inc. 300,000 $7.8M Reduce -40.0% CC The Chemours Co. 360,000 $7.3M Add +20.0% GRPN Groupon Inc. 740,000 $7.2M New EHTH Ehealth Inc. 1,180,000 $4.8M Reduce -9.2% IBTA Ibotta Inc. Class A 65,000 $4.0M New KLXE KLX Energy Services Holding 451,500 $2.5M Reduce -17.9% NBIS Nebius Group NV 75,000 $0 New
Options reported separately and not counted above: VAL calls ($5.6M), ESTA calls ($865K).
Other holdings (3): bonds, preferreds, convertibles and warrants · $12.3M (not counted above) Total filed on the 13F, all lines: $192.1M.
Portfolio Sells Q2 2024 → Q3 2024 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 Q2 2024 % Of Portfolio Change To Portfolio ▲ VAL Valaris Ltd. Reduce -31.6% 6.04% −5.43 VET Vermilion Energy Inc. Sold out 0.00% −3.75 TDS Telephone and Data Systems Sold out 0.00% −3.36 NE Noble Corp. PLC Reduce -22.7% 5.12% −2.84 ESTA Establishment Labs Holdings Reduce -7.5% 24.73% −2.56 EXEL Exelixis Inc. Reduce -40.0% 4.33% −1.74 EHTH Ehealth Inc. Reduce -9.2% 2.68% −0.51 KLXE KLX Energy Services Holding Reduce -17.9% 1.37% −0.10
Portfolio Buys Q2 2024 → Q3 2024 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 Q2 2024 % Of Portfolio Change To Portfolio ▼ APLD Applied Digital Corp. New 6.42% +6.42 NMM Navios Maritime Partners LP New 4.53% +4.53 GRPN Groupon Inc. New 4.02% +4.02 IBTA Ibotta Inc. Class A New 2.23% +2.23 LQDA Liquidia Corp. Add +33.1% 17.76% +2.19 DAVA Endava PLC- Spon ADR Add +25.8% 5.54% +0.64 CC The Chemours Co. Add +20.0% 4.07% +0.41 NBIS Nebius Group NV New 0.00% 0.00 GTM Zoominfo Technologies Inc. Add +17.6% 5.74% −0.13
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ VAL Valaris Ltd. call New 100,000 $5.6M LQDA Liquidia Corp. call Sold out 400,000 $4.8Mbefore exit ESTA Establishment Labs Holdings call Reduce -60.0% 20,000 $865K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2024 → Q3 2024 Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages 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