GatePass Capital, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed September 22, 2025), GatePass Capital, LLC reported 125 stock positions worth $149.0 million. Its top holding was Cincinnati Financial (CINF) at 9.7% of the portfolio, followed by iShares 0-1 Year Treasury Bo (SHV, 7.1%) and PIMCO Enhanced Short Maturit (MINT, 5.4%). Compared with Q1 2025, it opened 17 new positions, sold out of 5, added to 40 and reduced 42. The biggest buy was Wisdomtree Floating Rate Tre (USFR, shares +434%) and the biggest sale an exit from Inmune Bio (INMB).

Most Recent 13F
Q2 2026
Location
INDEPENDENCE, OH
CIK
0002087399
Portfolio Value
$149.0M (Q2 2025)
SEC Filing
0002087399-25-000003 ↗ filed Sep 22, 2025

Holdings Value

0$100.0M$200.0M$300.0M Q4 2024: $90.2M Q4 2024 Q1 2025: $131.9M Q1 2025 Q2 2025: $149.0M $149.0M Q2 2025 Q3 2025: $170.2M Q3 2025 Q4 2025: $190.6M Q4 2025 Q1 2026: $202.1M Q1 2026 Q2 2026: $256.7M Q2 2026

Holdings 125 stocks · $149.0M
CINF Cincinnati Financial Corp. 9.72% 97,239 $14.5M No change
SHV iShares 0-1 Year Treasury Bo 7.11% 95,935 $10.6M Reduce -4.2%
MINT PIMCO Enhanced Short Maturit 5.39% 79,832 $8.0M Add +0.5%
STEW SRH Total Return Fund Inc. 5.19% 437,310 $7.7M Reduce -2.1%
ADX Adams Diversified Equity 4.11% 282,130 $6.1M Reduce -2.5%
CVNA Carvana Co. 3.39% 15,006 $5.1M Add +0.0%
GBIL Goldman Sachs Access Treasur 3.13% 46,600 $4.7M Add +9.8%
JAAA Janus Henderson Aaa Clo ETF 3.03% 88,935 $4.5M Add +17.1%
NSLR Neostellar Capital Corp. filed as SURO CAPITAL CORP 2.83% 512,750 $4.2M Reduce -3.1%
SPY SS SPDR S&P 500 ETF Trust-US 2.53% 6,089 $3.8M Add +9.7%
USFR Wisdomtree Floating Rate Tre 2.46% 72,900 $3.7M Add +434.1%
BIL SS SPDR BB 1-3M T-Bill ETF 2.04% 33,135 $3.0M Reduce -1.6%
JPST JPMorgan Ultra-Short Income 1.97% 57,759 $2.9M Add +54.2%
VGSH Vanguard Short-Term Treasury 1.66% 42,150 $2.5M Reduce -15.1%
SOFI Sofi Technologies Inc. 1.50% 122,521 $2.2M Add +0.0%
MAMA Mama's Creations Inc. 1.33% 239,185 $2.0M Add +8.1%
VTI VG Morningstar TS MKT ETF-US 1.24% 6,095 $1.9M Add +0.2%
NXDT Nexpoint Diversified Real Es 1.13% 401,800 $1.7M Add +13.2%
IUSB Ishr CR Unvrse Usd BD ETF-Ui 1.12% 36,237 $1.7M Reduce -17.6%
QQQ Invesco QQQ Trust Series 1 1.05% 2,837 $1.6M Reduce -13.2%
VUSB Vanguard Ultra Short Bond Et 1.01% 30,100 $1.5M Reduce -1.3%
NVDA Nvidia Corp. 0.96% 9,018 $1.4M Reduce -10.7%
JPM JPMorgan Chase & Co. 0.94% 4,841 $1.4M Reduce -11.9%
AGG iShares Core U.S. Aggregate 0.93% 14,020 $1.4M Reduce -0.9%
SPE Special Opportunities Fund 0.92% 88,900 $1.4M Reduce -22.5%
AMZN Amazon.com Inc. 0.80% 5,464 $1.2M Add +11.2%
PFE Pfizer Inc. 0.80% 48,908 $1.2M Reduce -25.7%
VOO Vanguard S&P 500 ETF 0.79% 2,067 $1.2M Add +0.5%
GGZ Gabelli Global Small & M 0.79% 88,000 $1.2M No change
NVDL Granitesh 2X LNG Nvda ETF 0.75% 15,932 $1.1M Reduce -47.4%
GENI Genius Sports Ltd. 0.73% 105,000 $1.1M No change
RF Regions Financial Corp. 0.67% 42,252 $994K Reduce -0.5%
PNNT Pennantpark Investment Corp. 0.64% 140,350 $960K Reduce -13.8%
EVLV Evolv Technologies Holdings 0.63% 150,000 $936K New
CONL Granitesh 2X LNG Coin ETF-US 0.63% 20,264 $935K Add +22.7%
VICR Vicor Corp. 0.61% 20,000 $907K No change
WFC Wells Fargo & Co. 0.61% 11,303 $906K Add +0.1%
IVV iShares Core S&P 500 ETF 0.57% 1,370 $851K Reduce -5.2%
USHY iShares Broad Usd High Yield 0.57% 22,600 $848K New
QUAL iShares MSCI USA Quality Fac 0.57% 4,619 $844K Add +51.2%
HPE Hewlett Packard Enterprise 0.57% 41,200 $843K Add +201.8%
PESI Perma-Fix Environmental SVCS 0.56% 78,961 $831K No change
WHR Whirlpool Corp. 0.55% 8,100 $822K Add +1.3%
XBXMX Nuveen S&P 500 Buy-WR Inc. 0.54% 58,000 $805K Reduce -4.9%
SHY iShares 1-3 Year Treasury Bo 0.54% 9,707 $804K Reduce -4.3%
PBPB Potbelly Corp. 0.54% 65,486 $802K Add +61.8%
SCHZ Schwab US Aggregate Bond ETF 0.53% 34,263 $796K Add +0.7%
IVW iShares S&P 500 Growth ETF 0.52% 7,097 $781K Add +13.0%
AVGO Broadcom Inc. 0.50% 2,723 $751K Reduce -8.3%
DYNF Ishrs US E F R A ETF-Usd Inc. 0.49% 13,345 $727K Add +33.1%
BV Brightview Holdings Inc. 0.49% 43,500 $724K No change
QCOM Qualcomm Inc. 0.48% 4,493 $716K Reduce -2.9%
ABBV Abbvie Inc. 0.47% 3,804 $706K Reduce -3.0%
AAPL Apple Inc. 0.46% 3,347 $687K Reduce -13.4%
RTX RTX Corp. 0.45% 4,620 $675K Reduce -4.2%
MSFT Microsoft Corp. 0.45% 1,349 $671K Add +30.7%
HFRO Highland Opport & Income 0.41% 116,100 $604K Add +5.7%
CNDT Conduent Inc. 0.40% 223,100 $589K Add +2.3%
USMV iShares MSCI USA Min Vol Fac 0.39% 6,250 $587K Reduce -10.1%
AESI Atlas Energy Solutions Inc. 0.39% 43,100 $576K Add +74.5%
EFV iShares MSCI Eafe Value ETF 0.37% 8,632 $548K Add +64.0%
VTV Vanguard Mrngstr Val ETF-Aui 0.34% 2,825 $499K Add +22.0%
STNE Stoneco Ltd. Class A 0.32% 30,000 $481K No change
SPHY SS SPDR P High Yield ETF 0.32% 20,200 $481K New
TY Tri-Continental Corp. 0.31% 14,756 $467K Reduce -1.3%
ET Energy Transfer LP 0.31% 25,500 $462K Add +24.4%
OBDC Blue Owl Capital Corp. 0.31% 32,000 $459K No change
ABT Abbott Laboratories 0.31% 3,351 $456K Add +0.4%
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.30% 4,610 $453K Add +96.8%
SLQT Selectquote Inc. 0.30% 185,750 $442K Add +0.5%
GE General Electric filed as GE AEROSPACE 0.29% 1,681 $433K Add +23.4%
VSEC Vse Corp. 0.29% 3,300 $432K No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.29% 973 $429K No change
BHR Braemar Hotels & Resorts Inc. 0.29% 174,500 $428K Add +1.2%
WD Walker & Dunlop Inc. 0.29% 6,049 $426K Reduce -2.8%
AMDL Graniteshares 2XLONG AMD ETF 0.29% 50,000 $426K New
VZ Verizon Communications Inc. 0.28% 9,720 $421K Reduce -47.7%
EML The Eastern Co. 0.28% 18,000 $411K No change
MELI MercadoLibre Inc. 0.27% 152 $397K No change
GOOGL Alphabet Inc. Class A 0.26% 2,214 $390K Reduce -0.3%
IEMG iShares Core MSCI Emerging 0.26% 6,431 $386K New
GOOG Alphabet Inc. Class C 0.26% 2,175 $386K Reduce -4.7%
RSP Invesco S&P 500 Equal Weight 0.25% 2,050 $373K Reduce -12.1%
COST Costco Wholesale Corp. 0.25% 369 $365K Reduce -0.5%
BRK.B Berkshire Hathaway Inc. Class B 0.24% 749 $364K Reduce -11.8%
ACTG Acacia Research Corp. 0.23% 96,300 $345K Add +46.4%
VIG Vanguard Dividend Apprec ETF 0.22% 1,625 $333K No change
IEFA iShares Core MSCI Eafe ETF 0.22% 3,920 $327K Reduce -17.1%
EPD Enterprise Products Partners 0.22% 10,500 $326K No change
EFG iShares MSCI Eafe Growth ETF 0.22% 2,904 $325K New
META Meta Platforms Inc. Class A 0.21% 431 $318K Add +19.1%
JBBB Janus Henderson B-BBB Clo Et 0.21% 6,500 $313K New
SHOP Shopify Inc. Class A 0.21% 2,650 $306K No change
MBB iShares MBS ETF 0.20% 3,096 $291K Add +7.5%
RRGB Red Robin Gourmet Burgers 0.19% 50,000 $290K New
VB Vanguard Most SM-Cap ETF-Usd 0.19% 1,183 $280K No change
OXFORD LANE CAP CORP 0.18% 62,900 $264K New
GBDC Golub Capital BDC Inc. 0.18% 18,000 $264K No change
CION Cion Investment Corp. 0.17% 27,000 $258K Reduce -37.2%
XLK SS Technology Select Sector 0.17% 1,010 $256K No change

Show all 125 holdings

Other holdings (1): bonds, preferreds, convertibles and warrants · $1.9M (not counted above)
SecurityClassShares / PrincipalValueChange
SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) 2.75% CNV PFD C 76,750$1.9MAdd +9.3%

Total filed on the 13F, all lines: $150.9M.

Portfolio Sells Q1 2025 → Q2 2025
INMB Inmune Bio Inc. Sold out 0.00% −1.39
SHV iShares 0-1 Year Treasury Bo Reduce -4.2% 7.11% −1.28
STEW SRH Total Return Fund Inc. Reduce -2.1% 5.19% −0.66
VGSH Vanguard Short-Term Treasury Reduce -15.1% 1.66% −0.55
PFE Pfizer Inc. Reduce -25.7% 0.80% −0.47
IUSB Ishr CR Unvrse Usd BD ETF-Ui Reduce -17.6% 1.12% −0.41
SPE Special Opportunities Fund Reduce -22.5% 0.92% −0.38
VZ Verizon Communications Inc. Reduce -47.7% 0.28% −0.36
IWM iShares Russell 2000 ETF Sold out 0.00% −0.31
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -1.6% 2.04% −0.30
PNNT Pennantpark Investment Corp. Reduce -13.8% 0.64% −0.22
SACH Sachem Capital Corp. Reduce -60.3% 0.12% −0.21
BSV Vanguard Short-Term Bond ETF Sold out 0.00% −0.20
AAPL Apple Inc. Reduce -13.4% 0.46% −0.19
UNH Unitedhealth Group Inc. Sold out 0.00% −0.17
CION Cion Investment Corp. Reduce -37.2% 0.17% −0.16
ABBV Abbvie Inc. Reduce -3.0% 0.47% −0.15
VUSB Vanguard Ultra Short Bond Et Reduce -1.3% 1.01% −0.15
AGG iShares Core U.S. Aggregate Reduce -0.9% 0.93% −0.13
WD Walker & Dunlop Inc. Reduce -2.8% 0.29% −0.12
QQQ Invesco QQQ Trust Series 1 Reduce -13.2% 1.05% −0.11
NVDL Granitesh 2X LNG Nvda ETF Reduce -47.4% 0.75% −0.11
USMV iShares MSCI USA Min Vol Fac Reduce -10.1% 0.39% −0.10
BRK.B Berkshire Hathaway Inc. Class B Reduce -11.8% 0.24% −0.10
SHY iShares 1-3 Year Treasury Bo Reduce -4.3% 0.54% −0.10
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -34.6% 0.14% −0.09
EQC Equity Commonwealth Sold out 0.00% −0.08
MOAT Vaneck Morningstar Wide Moat Reduce -28.8% 0.17% −0.08
JPM JPMorgan Chase & Co. Reduce -11.9% 0.94% −0.08
XBXMX Nuveen S&P 500 Buy-WR Inc. Reduce -4.9% 0.54% −0.07
QCOM Qualcomm Inc. Reduce -2.9% 0.48% −0.06
ADX Adams Diversified Equity Reduce -2.5% 4.11% −0.06
RSP Invesco S&P 500 Equal Weight Reduce -12.1% 0.25% −0.06
IEFA iShares Core MSCI Eafe ETF Reduce -17.1% 0.22% −0.05
IVV iShares Core S&P 500 ETF Reduce -5.2% 0.57% −0.04
ITOT iShares Core S&P Total U.S. Reduce -19.2% 0.15% −0.04
TY Tri-Continental Corp. Reduce -1.3% 0.31% −0.03
RF Regions Financial Corp. Reduce -0.5% 0.67% −0.03
RTX RTX Corp. Reduce -4.2% 0.45% −0.03
WMT Walmart Inc. Reduce -13.3% 0.15% −0.02
COST Costco Wholesale Corp. Reduce -0.5% 0.25% −0.02
GOOG Alphabet Inc. Class C Reduce -4.7% 0.26% −0.01
HON Honeywell International Inc. Reduce -0.9% 0.15% −0.01
GOOGL Alphabet Inc. Class A Reduce -0.3% 0.26% +0.00
NVDA Nvidia Corp. Reduce -10.7% 0.96% +0.13
AVGO Broadcom Inc. Reduce -8.3% 0.50% +0.13
NSLR Neostellar Capital Corp. Reduce -3.1% 2.83% +0.83

Portfolio Buys Q1 2025 → Q2 2025
USFR Wisdomtree Floating Rate Tre Add +434.1% 2.46% +1.94
CVNA Carvana Co. Add +0.0% 3.39% +1.02
EVLV Evolv Technologies Holdings New 0.63% +0.63
USHY iShares Broad Usd High Yield New 0.57% +0.57
JPST JPMorgan Ultra-Short Income Add +54.2% 1.97% +0.53
CONL Granitesh 2X LNG Coin ETF-US Add +22.7% 0.63% +0.45
SOFI Sofi Technologies Inc. Add +0.0% 1.50% +0.42
HPE Hewlett Packard Enterprise Add +201.8% 0.57% +0.41
SPHY SS SPDR P High Yield ETF New 0.32% +0.32
AMDL Graniteshares 2XLONG AMD ETF New 0.29% +0.29
IEMG iShares Core MSCI Emerging New 0.26% +0.26
PBPB Potbelly Corp. Add +61.8% 0.54% +0.25
MAMA Mama's Creations Inc. Add +8.1% 1.33% +0.24
EFG iShares MSCI Eafe Growth ETF New 0.22% +0.22
JBBB Janus Henderson B-BBB Clo Et New 0.21% +0.21
RRGB Red Robin Gourmet Burgers New 0.19% +0.19
OXFORD LANE CAP CORP New 0.18% +0.18
SPY SS SPDR S&P 500 ETF Trust-US Add +9.7% 2.53% +0.17
QUAL iShares MSCI USA Quality Fac Add +51.2% 0.57% +0.17
ORCL Oracle Corp. New 0.16% +0.16
MSFT Microsoft Corp. Add +30.7% 0.45% +0.16
TTD Trade Desk Inc./the Class A New 0.15% +0.15
EFV iShares MSCI Eafe Value ETF Add +64.0% 0.37% +0.13
CDNA Caredx Inc. New 0.13% +0.13
ONDS Ondas Inc. New 0.13% +0.13
DYNF Ishrs US E F R A ETF-Usd Inc. Add +33.1% 0.49% +0.12
JAAA Janus Henderson Aaa Clo ETF Add +17.1% 3.03% +0.11
BTMD Biote Corp. Class A Add +316.7% 0.13% +0.10
NXDT Nexpoint Diversified Real Es Add +13.2% 1.13% +0.10
AIRS Airsculpt Technologies Inc. New 0.10% +0.10
AMZN Amazon.com Inc. Add +11.2% 0.80% +0.10
SJM The JM Smucker Co. Add +96.8% 0.30% +0.09
GE General Electric Add +23.4% 0.29% +0.08
IVW iShares S&P 500 Growth ETF Add +13.0% 0.52% +0.08
GPRE Green Plains Inc. Add +69.6% 0.16% +0.07
ACTG Acacia Research Corp. Add +46.4% 0.23% +0.07
SUNS Sunrise Realty Trust Inc. New 0.07% +0.07
WIW Western Asst Infl-LNK Opp New 0.07% +0.07
LUCK Lucky Strike Entertainment C New 0.06% +0.06
META Meta Platforms Inc. Class A Add +19.1% 0.21% +0.06
AESI Atlas Energy Solutions Inc. Add +74.5% 0.39% +0.05
VTV Vanguard Mrngstr Val ETF-Aui Add +22.0% 0.34% +0.03
ET Energy Transfer LP Add +24.4% 0.31% +0.02
WHR Whirlpool Corp. Add +1.3% 0.55% +0.00
WFC Wells Fargo & Co. Add +0.1% 0.61% −0.01
MBB iShares MBS ETF Add +7.5% 0.20% −0.01
VOO Vanguard S&P 500 ETF Add +0.5% 0.79% −0.01
MO Altria Group Inc. Add +1.8% 0.14% −0.02
VTI VG Morningstar TS MKT ETF-US Add +0.2% 1.24% −0.02
HFRO Highland Opport & Income Add +5.7% 0.41% −0.03

Notes & Other Activity Q1 2025 → Q2 2025
SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) 2.75% CNV PFD C Add +9.3% 76,750 $1.9M

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 186$256.7MCINF, VICR, SPY, CBZ, STEW
Q1 2026 169$202.1MCINF, SHV, SPY, MINT, STEW
Q4 2025 155$190.6MCINF, SHV, STEW, MINT, ADX
Q3 2025 143$170.2MCINF, SHV, STEW, MINT, ADX
Q2 2025 125$149.0MCINF, SHV, MINT, STEW, ADX
Q1 2025 113$131.9MCINF, SHV, MINT, STEW, ADX
Q4 2024 101$90.2MSHV, CVNA, MINT, RDDT, STEW