GatePass Capital, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 29, 2025), GatePass Capital, LLC reported 143 stock positions worth $170.2 million. Its top holding was Cincinnati Financial (CINF) at 9.0% of the portfolio, followed by iShares 0-1 Year Treasury Bo (SHV, 5.8%) and SRH Total Return Fund (STEW, 4.6%). Compared with Q2 2025, it opened 32 new positions, sold out of 14, added to 48 and reduced 37. The biggest buy was a new position in Zeta Global Class A (ZETA) and the biggest sale Carvana (CVNA, shares −43%).
- Most Recent 13F
- Q2 2026
- Location
- INDEPENDENCE, OH
- CIK
- 0002087399
- Portfolio Value
- $170.2M (Q3 2025)
- SEC Filing
- 0002087399-25-000004 ↗ filed Oct 29, 2025
Holdings Value
Holdings 143 stocks · $170.2M
| CINF Cincinnati Financial Corp. | 9.03% | 97,239 | $15.4M | No change |
| SHV iShares 0-1 Year Treasury Bo | 5.79% | 89,221 | $9.9M | Reduce -7.0% |
| STEW SRH Total Return Fund Inc. | 4.63% | 434,460 | $7.9M | Reduce -0.7% |
| MINT PIMCO Enhanced Short Maturit | 4.62% | 78,032 | $7.9M | Reduce -2.3% |
| ADX Adams Diversified Equity | 3.91% | 298,380 | $6.7M | Add +5.8% |
| GBIL Goldman Sachs Access Treasur | 3.01% | 51,050 | $5.1M | Add +9.6% |
| JAAA Janus Henderson Aaa Clo ETF | 2.85% | 95,550 | $4.9M | Add +7.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.66% | 6,810 | $4.5M | Add +11.8% |
| NSLR Neostellar Capital Corp. filed as SURO CAPITAL CORP | 2.62% | 496,100 | $4.5M | Reduce -3.3% |
| USFR Wisdomtree Floating Rate Tre | 2.22% | 75,300 | $3.8M | Add +3.3% |
| CVNA Carvana Co. | 1.88% | 8,504 | $3.2M | Reduce -43.3% |
| JPST JPMorgan Ultra-Short Income | 1.81% | 60,655 | $3.1M | Add +5.0% |
| SOFI Sofi Technologies Inc. | 1.55% | 100,045 | $2.6M | Reduce -18.3% |
| NVDA Nvidia Corp. | 1.44% | 13,127 | $2.4M | Add +45.6% |
| MAMA Mama's Creations Inc. | 1.29% | 209,185 | $2.2M | Reduce -12.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.26% | 23,325 | $2.1M | Reduce -29.6% |
| SPE Special Opportunities Fund | 1.22% | 134,300 | $2.1M | Add +51.1% |
| VTI VG Morningstar TS MKT ETF-US | 1.18% | 6,100 | $2.0M | Add +0.1% |
| VGSH Vanguard Short-Term Treasury | 1.16% | 33,500 | $2.0M | Reduce -20.5% |
| ZETA Zeta Global Holdings Corp. Class A | 1.09% | 93,227 | $1.9M | New |
| QQQ Invesco QQQ Trust Series 1 | 1.04% | 2,956 | $1.8M | Add +4.2% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 1.04% | 37,951 | $1.8M | Add +4.7% |
| NVDL Granitesh 2X LNG Nvda ETF | 0.99% | 17,981 | $1.7M | Add +12.9% |
| BOOT Boot Barn Holdings Inc. | 0.98% | 10,028 | $1.7M | New |
| NXDT Nexpoint Diversified Real Es | 0.94% | 433,362 | $1.6M | Add +7.9% |
| JPM JPMorgan Chase & Co. | 0.90% | 4,849 | $1.5M | Add +0.2% |
| AGG iShares Core U.S. Aggregate | 0.88% | 14,916 | $1.5M | Add +6.4% |
| EVLV Evolv Technologies Holdings | 0.84% | 190,000 | $1.4M | Add +26.7% |
| SPHY SS SPDR P High Yield ETF | 0.82% | 58,550 | $1.4M | Add +189.8% |
| BYRN Byrna Technologies Inc. | 0.77% | 59,057 | $1.3M | New |
| GENI Genius Sports Ltd. | 0.76% | 105,000 | $1.3M | No change |
| VOO Vanguard S&P 500 ETF | 0.75% | 2,085 | $1.3M | Add +0.9% |
| GGZ Gabelli Global Small & M | 0.75% | 88,000 | $1.3M | No change |
| VUSB Vanguard Ultra Short Bond Et | 0.73% | 25,000 | $1.2M | Reduce -16.9% |
| PFE Pfizer Inc. | 0.73% | 49,016 | $1.2M | Add +0.2% |
| AMZN Amazon.com Inc. | 0.72% | 5,552 | $1.2M | Add +1.6% |
| RDDT Reddit Inc. Class A | 0.68% | 5,022 | $1.2M | New |
| QUAL iShares MSCI USA Quality Fac | 0.67% | 5,878 | $1.1M | Add +27.3% |
| TPB Turning Point Brands Inc. | 0.66% | 11,323 | $1.1M | New |
| RF Regions Financial Corp. | 0.65% | 42,252 | $1.1M | No change |
| AVGO Broadcom Inc. | 0.60% | 3,107 | $1.0M | Add +14.1% |
| HPE Hewlett Packard Enterprise | 0.59% | 41,220 | $1.0M | Add +0.1% |
| WFC Wells Fargo & Co. | 0.56% | 11,309 | $948K | Add +0.1% |
| IVW iShares S&P 500 Growth ETF | 0.55% | 7,804 | $942K | Add +10.0% |
| PNNT Pennantpark Investment Corp. | 0.55% | 139,550 | $936K | Reduce -0.6% |
| IVV iShares Core S&P 500 ETF | 0.54% | 1,365 | $914K | Reduce -0.4% |
| AAPL Apple Inc. | 0.53% | 3,539 | $901K | Add +5.7% |
| ABBV Abbvie Inc. | 0.52% | 3,823 | $885K | Add +0.5% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 0.51% | 14,576 | $863K | Add +9.2% |
| SCHZ Schwab US Aggregate Bond ETF | 0.50% | 36,450 | $855K | Add +6.4% |
| FEIM Frequency Electronics Inc. | 0.50% | 25,000 | $848K | New |
| CVX Chevron Corp. | 0.49% | 5,391 | $837K | New |
| MSFT Microsoft Corp. | 0.48% | 1,594 | $825K | Add +18.2% |
| TBIL F/M US Treasury 3 Month Bill | 0.48% | 16,400 | $820K | New |
| OXFORD LANE CAP CORP | 0.47% | 47,400 | $802K | Reduce -24.6% |
| OXLC Oxford Lane Capital Corp. | 0.47% | 47,400 | $802K | New |
| EML The Eastern Co. | 0.47% | 33,800 | $793K | Add +87.8% |
| FIVE Five Below | 0.45% | 5,002 | $774K | New |
| RTX RTX Corp. | 0.45% | 4,617 | $773K | Reduce -0.1% |
| ONDS Ondas Inc. filed as ONDAS HLDGS INC | 0.45% | 100,000 | $772K | No change |
| QCOM Qualcomm Inc. | 0.44% | 4,503 | $749K | Add +0.2% |
| SMRT Smartrent Inc. | 0.44% | 529,022 | $746K | Add +280.5% |
| ET Energy Transfer LP | 0.41% | 40,500 | $695K | Add +58.8% |
| FLR Fluor Corp. | 0.40% | 16,250 | $684K | New |
| EFV iShares MSCI Eafe Value ETF | 0.39% | 9,864 | $669K | Add +14.3% |
| XBXMX Nuveen S&P 500 Buy-WR Inc. | 0.39% | 46,000 | $664K | Reduce -20.7% |
| PESI Perma-Fix Environmental SVCS | 0.38% | 64,742 | $654K | Reduce -18.0% |
| ARQ Arq Inc. | 0.37% | 88,968 | $637K | New |
| WHR Whirlpool Corp. | 0.37% | 8,100 | $637K | No change |
| CNDT Conduent Inc. | 0.37% | 225,100 | $630K | Add +0.9% |
| USMV iShares MSCI USA Min Vol Fac | 0.35% | 6,250 | $595K | No change |
| JBBB Janus Henderson B-BBB Clo Et | 0.34% | 12,000 | $578K | Add +84.6% |
| STNE Stoneco Ltd. Class A | 0.33% | 30,000 | $567K | No change |
| PSEC Prospect Capital Corp. | 0.33% | 204,800 | $563K | New |
| VSEC Vse Corp. | 0.32% | 3,300 | $549K | No change |
| GOOGL Alphabet Inc. Class A | 0.32% | 2,217 | $539K | Add +0.1% |
| IREN Iren Ltd. filed as IREN LIMITED | 0.32% | 11,450 | $537K | New |
| RRGB Red Robin Gourmet Burgers | 0.31% | 78,000 | $535K | Add +56.0% |
| VZ Verizon Communications Inc. | 0.30% | 11,600 | $510K | Add +19.3% |
| GOOG Alphabet Inc. Class C | 0.30% | 2,092 | $510K | Reduce -3.8% |
| WD Walker & Dunlop Inc. | 0.30% | 6,049 | $506K | No change |
| GE General Electric filed as GE AEROSPACE | 0.30% | 1,678 | $505K | Reduce -0.2% |
| PYPL PayPal Holdings Inc. | 0.30% | 7,492 | $502K | New |
| TY Tri-Continental Corp. | 0.29% | 14,756 | $502K | No change |
| SJM The JM Smucker Co. filed as SMUCKER J M CO | 0.29% | 4,610 | $501K | No change |
| VICR Vicor Corp. | 0.29% | 10,000 | $497K | Reduce -50.0% |
| IEMG iShares Core MSCI Emerging | 0.27% | 7,088 | $467K | Add +10.2% |
| ORCL Oracle Corp. | 0.27% | 1,639 | $461K | Add +49.0% |
| USHY iShares Broad Usd High Yield | 0.27% | 12,000 | $453K | Reduce -46.9% |
| ABT Abbott Laboratories | 0.26% | 3,346 | $448K | Reduce -0.1% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.26% | 942 | $437K | Reduce -3.2% |
| IJR iShares Core S&P Small-Cap E | 0.23% | 3,352 | $398K | New |
| BHR Braemar Hotels & Resorts Inc. | 0.23% | 145,500 | $397K | Reduce -16.6% |
| SHOP Shopify Inc. Class A | 0.23% | 2,669 | $397K | Add +0.7% |
| ETH Grayscale Ethereum Staking M | 0.23% | 10,000 | $392K | New |
| RSP Invesco S&P 500 Equal Weight | 0.23% | 2,050 | $389K | No change |
| EFG iShares MSCI Eafe Growth ETF | 0.22% | 3,295 | $375K | Add +13.5% |
| META Meta Platforms Inc. Class A | 0.22% | 505 | $371K | Add +17.2% |
| SLQT Selectquote Inc. | 0.21% | 185,450 | $363K | Reduce -0.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.21% | 715 | $360K | Reduce -4.5% |
Options reported separately and not counted above: ZETA calls ($149K), ETH calls ($118K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $2.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) | 2.75% CNV PFD C | 111,050 | $2.8M | Add +44.7% |
Total filed on the 13F, all lines: $173.0M.
Portfolio Sells Q2 2025 → Q3 2025
| CVNA Carvana Co. | Reduce -43.3% | 1.88% | −1.51 |
| SHV iShares 0-1 Year Treasury Bo | Reduce -7.0% | 5.79% | −1.32 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -29.6% | 1.26% | −0.78 |
| MINT PIMCO Enhanced Short Maturit | Reduce -2.3% | 4.62% | −0.77 |
| CONL Granitesh 2X LNG Coin ETF-US | Sold out | 0.00% | −0.63 |
| STEW SRH Total Return Fund Inc. | Reduce -0.7% | 4.63% | −0.56 |
| PBPB Potbelly Corp. | Sold out | 0.00% | −0.54 |
| VGSH Vanguard Short-Term Treasury | Reduce -20.5% | 1.16% | −0.51 |
| BV Brightview Holdings Inc. | Sold out | 0.00% | −0.49 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -72.1% | 0.13% | −0.41 |
| HFRO Highland Opport & Income | Sold out | 0.00% | −0.41 |
| VTV Vanguard Mrngstr Val ETF-Aui | Sold out | 0.00% | −0.34 |
| VICR Vicor Corp. | Reduce -50.0% | 0.29% | −0.32 |
| AESI Atlas Energy Solutions Inc. | Reduce -74.0% | 0.07% | −0.31 |
| USHY iShares Broad Usd High Yield | Reduce -46.9% | 0.27% | −0.30 |
| AMDL Graniteshares 2XLONG AMD ETF | Sold out | 0.00% | −0.29 |
| VUSB Vanguard Ultra Short Bond Et | Reduce -16.9% | 0.73% | −0.27 |
| NSLR Neostellar Capital Corp. | Reduce -3.3% | 2.62% | −0.20 |
| PESI Perma-Fix Environmental SVCS | Reduce -18.0% | 0.38% | −0.17 |
| HON Honeywell International Inc. | Sold out | 0.00% | −0.15 |
| XBXMX Nuveen S&P 500 Buy-WR Inc. | Reduce -20.7% | 0.39% | −0.15 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −0.15 |
| OBDC Blue Owl Capital Corp. | Reduce -31.3% | 0.17% | −0.14 |
| BTMD Biote Corp. Class A | Sold out | 0.00% | −0.13 |
| CDNA Caredx Inc. | Sold out | 0.00% | −0.13 |
| STIM Neuronetics Inc. | Sold out | 0.00% | −0.11 |
| PNNT Pennantpark Investment Corp. | Reduce -0.6% | 0.55% | −0.09 |
| SLQT Selectquote Inc. | Reduce -0.2% | 0.21% | −0.08 |
| SUNS Sunrise Realty Trust Inc. | Sold out | 0.00% | −0.07 |
| WIW Western Asst Infl-LNK Opp | Sold out | 0.00% | −0.07 |
| LUCK Lucky Strike Entertainment C | Sold out | 0.00% | −0.06 |
| BHR Braemar Hotels & Resorts Inc. | Reduce -16.6% | 0.23% | −0.05 |
| COST Costco Wholesale Corp. | Reduce -3.5% | 0.19% | −0.05 |
| ABT Abbott Laboratories | Reduce -0.1% | 0.26% | −0.04 |
| MAMA Mama's Creations Inc. | Reduce -12.5% | 1.29% | −0.04 |
| IVV iShares Core S&P 500 ETF | Reduce -0.4% | 0.54% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -4.5% | 0.21% | −0.03 |
| DIA SS SPDR Dow Jones Indus Avg | Reduce -3.2% | 0.26% | −0.03 |
| CION Cion Investment Corp. | Reduce -3.7% | 0.14% | −0.03 |
| SACH Sachem Capital Corp. | Reduce -4.6% | 0.09% | −0.03 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -1.2% | 0.20% | −0.02 |
| TMFE Motley Fool Capital Efficie | Reduce -1.2% | 0.14% | −0.02 |
| ITOT iShares Core S&P Total U.S. | Reduce -4.6% | 0.13% | −0.01 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -2.2% | 0.12% | −0.01 |
| MO Altria Group Inc. | Reduce -0.7% | 0.14% | −0.00 |
| RTX RTX Corp. | Reduce -0.1% | 0.45% | +0.00 |
| GE General Electric | Reduce -0.2% | 0.30% | +0.01 |
| GPRE Green Plains Inc. | Reduce -6.4% | 0.19% | +0.03 |
| GOOG Alphabet Inc. Class C | Reduce -3.8% | 0.30% | +0.04 |
| SOFI Sofi Technologies Inc. | Reduce -18.3% | 1.55% | +0.05 |
Portfolio Buys Q2 2025 → Q3 2025
| ZETA Zeta Global Holdings Corp. Class A | New | 1.09% | +1.09 |
| BOOT Boot Barn Holdings Inc. | New | 0.98% | +0.98 |
| BYRN Byrna Technologies Inc. | New | 0.77% | +0.77 |
| RDDT Reddit Inc. Class A | New | 0.68% | +0.68 |
| TPB Turning Point Brands Inc. | New | 0.66% | +0.66 |
| SPHY SS SPDR P High Yield ETF | Add +189.8% | 0.82% | +0.50 |
| FEIM Frequency Electronics Inc. | New | 0.50% | +0.50 |
| CVX Chevron Corp. | New | 0.49% | +0.49 |
| NVDA Nvidia Corp. | Add +45.6% | 1.44% | +0.48 |
| TBIL F/M US Treasury 3 Month Bill | New | 0.48% | +0.48 |
| OXLC Oxford Lane Capital Corp. | New | 0.47% | +0.47 |
| FIVE Five Below | New | 0.45% | +0.45 |
| FLR Fluor Corp. | New | 0.40% | +0.40 |
| ARQ Arq Inc. | New | 0.37% | +0.37 |
| SMRT Smartrent Inc. | Add +280.5% | 0.44% | +0.35 |
| PSEC Prospect Capital Corp. | New | 0.33% | +0.33 |
| IREN Iren Ltd. | New | 0.32% | +0.32 |
| SPE Special Opportunities Fund | Add +51.1% | 1.22% | +0.30 |
| PYPL PayPal Holdings Inc. | New | 0.30% | +0.30 |
| NVDL Granitesh 2X LNG Nvda ETF | Add +12.9% | 0.99% | +0.24 |
| IJR iShares Core S&P Small-Cap E | New | 0.23% | +0.23 |
| ETH Grayscale Ethereum Staking M | New | 0.23% | +0.23 |
| EVLV Evolv Technologies Holdings | Add +26.7% | 0.84% | +0.21 |
| TIC Tic Solutions Inc. | New | 0.20% | +0.20 |
| EML The Eastern Co. | Add +87.8% | 0.47% | +0.19 |
| CSCO Cisco Systems Inc. | New | 0.17% | +0.17 |
| IBIT iShares Bitcoin Trust ETF | New | 0.16% | +0.16 |
| SPMO Invesco S&P 500 Momentum ETF | New | 0.15% | +0.15 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +11.8% | 2.66% | +0.14 |
| BAI Ishrs AI in and Tech Act ETF | New | 0.14% | +0.14 |
| XLG Invesco S&P 500 Top 50 ETF | New | 0.14% | +0.14 |
| JBBB Janus Henderson B-BBB Clo Et | Add +84.6% | 0.34% | +0.13 |
| C Citigroup Inc. | New | 0.13% | +0.13 |
| GLD SPDR Gold Shares | New | 0.13% | +0.13 |
| GEV GE Vernova Inc. | New | 0.12% | +0.12 |
| RRGB Red Robin Gourmet Burgers | Add +56.0% | 0.31% | +0.12 |
| HD Home Depot Inc. | New | 0.12% | +0.12 |
| LPTH Lightpath Technologies Inc. Class A | New | 0.12% | +0.12 |
| ORCL Oracle Corp. | Add +49.0% | 0.27% | +0.11 |
| QUAL iShares MSCI USA Quality Fac | Add +27.3% | 0.67% | +0.10 |
| AVGO Broadcom Inc. | Add +14.1% | 0.60% | +0.10 |
| ET Energy Transfer LP | Add +58.8% | 0.41% | +0.10 |
| NXDR Nextdoor Holdings Inc. | New | 0.08% | +0.08 |
| AAPL Apple Inc. | Add +5.7% | 0.53% | +0.07 |
| GOOGL Alphabet Inc. Class A | Add +0.1% | 0.32% | +0.05 |
| ABBV Abbvie Inc. | Add +0.5% | 0.52% | +0.05 |
| VUZI Vuzix Corp. | New | 0.04% | +0.04 |
| HAIN Hain Celestial Group Inc. | New | 0.04% | +0.04 |
| MSFT Microsoft Corp. | Add +18.2% | 0.48% | +0.03 |
| HPE Hewlett Packard Enterprise | Add +0.1% | 0.59% | +0.03 |
Options Activity Q2 2025 → Q3 2025
| ZETA Zeta Global Holdings Corp. Class A | call | New | 60,000 | $149K |
| ETH Grayscale Ethereum Staking M | call | New | 20,000 | $118K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) | 2.75% CNV PFD C | Add +44.7% | 111,050 | $2.8M |
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 | 186 | $256.7M | CINF, VICR, SPY, CBZ, STEW |
| Q1 2026 | 169 | $202.1M | CINF, SHV, SPY, MINT, STEW |
| Q4 2025 | 155 | $190.6M | CINF, SHV, STEW, MINT, ADX |
| Q3 2025 | 143 | $170.2M | CINF, SHV, STEW, MINT, ADX |
| Q2 2025 | 125 | $149.0M | CINF, SHV, MINT, STEW, ADX |
| Q1 2025 | 113 | $131.9M | CINF, SHV, MINT, STEW, ADX |
| Q4 2024 | 101 | $90.2M | SHV, CVNA, MINT, RDDT, STEW |