Fortress Investment Group LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Fortress Investment Group LLC reported 34 stock positions worth $422.5 million. Its top holding was Nextnav (NN) at 55.8% of the portfolio, followed by iShares Bitcoin Trust ETF (IBIT, 15.6%) and Playboy (PLBY, 7.4%). Compared with Q3 2025, it opened 26 new positions, sold out of 35 and reduced 2. The biggest buy was a new position in Republic Airways (RJET) and the biggest sale an exit from Karman (KRMN).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001380393
Portfolio Value
$422.5M (Q4 2025)
SEC Filing
0001085146-26-000237 ↗ filed Feb 17, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $569.0M Q1 2024 Q2 2024: $466.3M Q2 2024 Q3 2024: $444.9M Q3 2024 Q4 2024: $629.2M Q4 2024 Q1 2025: $562.3M Q1 2025 Q2 2025: $693.4M Q2 2025 Q3 2025: $737.1M Q3 2025 Q4 2025: $422.5M $422.5M Q4 2025 Q1 2026: $391.8M Q1 2026 Q2 2026: $530.6M Q2 2026

Holdings 34 stocks · $422.5M
NN Nextnav Inc. 55.84% 14,178,054 $235.9M No change
IBIT iShares Bitcoin Trust ETF 15.57% 1,325,000 $65.8M No change
PLBY Playboy Inc. 7.38% 16,589,531 $31.2M No change
FFWM First Foundation Inc. 5.89% 4,038,750 $24.9M No change
NFE New Fortress Energy Inc. 3.62% 13,399,317 $15.3M No change
RJET Republic Airways Holdings Inc. 1.09% 250,804 $4.6M New
AHL Aspen Insurance Holdings Class A 0.86% 98,430 $3.7M New
CMA Comerica Inc. 0.77% 37,200 $3.2M New
KBONU Karbon Capital Partners Corp. 0.73% 307,023 $3.1M New
EXAS Exact Sciences Corp. 0.69% 28,500 $2.9M New
LMRI Lumexa Imaging Holdings Inc. 0.67% 152,573 $2.8M New
CYBR Cyberark Software Ltd./Israel 0.63% 5,995 $2.7M New
CADE Cadence Bank 0.60% 58,750 $2.5M New
RNAM Avidity Biosciences Inc. 0.59% 34,402 $2.5M New
GTLS Chart Industries Inc. 0.56% 11,443 $2.4M New
SHC Sotera Health Co. 0.52% 124,700 $2.2M New
LBRDK Liberty Broadband-C 0.47% 40,800 $2.0M New
NSC Norfolk Southern Corp. 0.43% 6,225 $1.8M New
FYBR Frontier Communications Pare 0.42% 46,500 $1.8M New
LGN Legence Corp. Class A 0.41% 40,704 $1.8M Reduce -85.2%
CFLT Confluent Inc. Class A 0.39% 55,000 $1.7M New
CDTX Cidara Therapeutics Inc. 0.38% 7,250 $1.6M New
FOLD Amicus Therapeutics Inc. 0.37% 110,000 $1.6M New
MDU Mdu Resources Group Inc. 0.31% 67,304 $1.3M New
EA Electronic Arts Inc. 0.27% 5,650 $1.2M New
WBD Warner Bros Discovery Inc. 0.25% 36,600 $1.1M New
ALH Alliance Laundry Holdings Inc. 0.16% 32,703 $666K New
CWAN Clearwater Analytics HDS-A 0.06% 10,000 $241K New
MARA Mara Holdings Inc. 0.03% 14,056 $126K No change
GWRE Guidewire Software Inc. 0.03% 600 $121K New
SARO Standardaero Inc. 0.02% 2,606 $75K Reduce -99.7%
SPCB Supercom Ltd. 0.00% 534 $5K New
TTAN Servicetitan Inc. Class A 0.00% 28 $3K New
SMRT Smartrent Inc. 0.00% 932 $2K New

Options reported separately and not counted above: RNAM puts ($721K), WBD puts ($432K).

Other holdings (1): bonds, preferreds, convertibles and warrants · $2.6M (not counted above)
SecurityClassShares / PrincipalValueChange
KKR & CO INC (KKR 6.25 03/01/28 D) 6.25 CON SER D 50,000$2.6MReduce -37.7%

Total filed on the 13F, all lines: $425.1M.

Portfolio Sells Q3 2025 → Q4 2025
KRMN Karman Holdings Inc. Sold out 0.00% −5.88
SITM Sitime Corp. Sold out 0.00% −4.09
BIRK Birkenstock Holding PLC Sold out 0.00% −3.68
WAY Waystar Holding Corp. Sold out 0.00% −3.53
SARO Standardaero Inc. Reduce -99.7% 0.02% −3.48
CHWY Chewy Inc. Class A Sold out 0.00% −3.29
SRAD Sportradar Group AG-A Sold out 0.00% −2.77
TPG TPG Inc. Sold out 0.00% −2.33
SAIL Sailpoint Inc. Sold out 0.00% −2.25
BLSH Bullish Sold out 0.00% −2.16
ZETA Zeta Global Holdings Corp. Class A Sold out 0.00% −1.35
CTRI Centuri Holdings Inc. Sold out 0.00% −1.19
FIGR Figure Technology Solut Class A Sold out 0.00% −1.11
VIK Viking Holdings Ltd. Sold out 0.00% −1.06
ODD Oddity Tech Ltd. Class A Sold out 0.00% −0.98
MIR Mirion Technologies Inc. Sold out 0.00% −0.95
AS Amer Sports Inc. Sold out 0.00% −0.92
DV Doubleverify Holdings Inc. Sold out 0.00% −0.77
LGN Legence Corp. Class A Reduce -85.2% 0.41% −0.74
DEC Diversified Energy Co. PLC Sold out 0.00% −0.68
OMDA Omada Health Inc. Sold out 0.00% −0.67
SFD Smithfield Foods Inc. Sold out 0.00% −0.64
SNOW Snowflake Inc. Sold out 0.00% −0.61
AMBQ Ambiq Micro Inc. Sold out 0.00% −0.61
NTSK Netskope Inc. Class A Sold out 0.00% −0.60
WYFI Whitefiber Inc. Sold out 0.00% −0.58
VST Vistra Corp. Sold out 0.00% −0.53
AWK American Water Works Co. Inc. Sold out 0.00% −0.45
CUBI Customers Bancorp Inc. Sold out 0.00% −0.39
NIQ Niq Global Intelligence PLC Sold out 0.00% −0.37
AIRO Airo Group Holdings Inc. Sold out 0.00% −0.30
WBI Waterbridge Infrastruc Class A Sold out 0.00% −0.28
WULF Terawulf Inc. Sold out 0.00% −0.23
RBRK Rubrik Inc. Class A Sold out 0.00% −0.16
MTRX Matrix Service Co. Sold out 0.00% −0.16
MNTN MNTN Inc. Class A Sold out 0.00% −0.12
BXP BXP Inc. Sold out 0.00% −0.04

Portfolio Buys Q3 2025 → Q4 2025
RJET Republic Airways Holdings Inc. New 1.09% +1.09
AHL Aspen Insurance Holdings Class A New 0.86% +0.86
CMA Comerica Inc. New 0.77% +0.77
KBONU Karbon Capital Partners Corp. New 0.73% +0.73
EXAS Exact Sciences Corp. New 0.69% +0.69
LMRI Lumexa Imaging Holdings Inc. New 0.67% +0.67
CYBR Cyberark Software Ltd./Israel New 0.63% +0.63
CADE Cadence Bank New 0.60% +0.60
RNAM Avidity Biosciences Inc. New 0.59% +0.59
GTLS Chart Industries Inc. New 0.56% +0.56
SHC Sotera Health Co. New 0.52% +0.52
LBRDK Liberty Broadband-C New 0.47% +0.47
NSC Norfolk Southern Corp. New 0.43% +0.43
FYBR Frontier Communications Pare New 0.42% +0.42
CFLT Confluent Inc. Class A New 0.39% +0.39
CDTX Cidara Therapeutics Inc. New 0.38% +0.38
FOLD Amicus Therapeutics Inc. New 0.37% +0.37
MDU Mdu Resources Group Inc. New 0.31% +0.31
EA Electronic Arts Inc. New 0.27% +0.27
WBD Warner Bros Discovery Inc. New 0.25% +0.25
ALH Alliance Laundry Holdings Inc. New 0.16% +0.16
CWAN Clearwater Analytics HDS-A New 0.06% +0.06
GWRE Guidewire Software Inc. New 0.03% +0.03
SPCB Supercom Ltd. New 0.00% +0.00
TTAN Servicetitan Inc. Class A New 0.00% +0.00
SMRT Smartrent Inc. New 0.00% +0.00

Options Activity Q3 2025 → Q4 2025
BIRK Birkenstock Holding PLC call Sold out 86,400 $3.9Mbefore exit
CHWY Chewy Inc. Class A call Sold out 50,000 $2.0Mbefore exit
RNAM Avidity Biosciences Inc. put New 10,000 $721K
WBD Warner Bros Discovery Inc. put New 15,000 $432K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q3 2025 → Q4 2025
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A Sold out 70,000 $4.9Mbefore exit
KKR & CO INC (KKR 6.25 03/01/28 D) 6.25 CON SER D Reduce -37.7% 50,000 $2.6M
ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) 6.75 SE B PFD Sold out 18,972 $943Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 25$530.6MNN, FSUN, IBIT, PLBY, KVUE
Q1 2026 32$391.8MNN, IBIT, PLBY, FFWM, NFE
Q4 2025 34$422.5MNN, IBIT, PLBY, FFWM, NFE
Q3 2025 43$737.1MNN, IBIT, KRMN, SITM, NFE
Q2 2025 56$693.4MNN, IBIT, NFE, AJG, BRO
Q1 2025 34$562.3MNN, NFE, TLN, IBIT, SARO
Q4 2024 24$629.2MNN, NFE, TLN, IBIT, FFWM
Q3 2024 13$444.9MNFE, NN, TLN, FIP, IBIT
Q2 2024 11$466.3MNFE, NN, IBIT, FIP, PLBY
Q1 2024 13$569.0MNFE, NN, IBIT, FIP, PLBY