Greenhaven Road Investment Management, L.P.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Greenhaven Road Investment Management, L.P. reported 15 stock positions worth $230.8 million. Its top holding was Hagerty Class A (HGTY) at 15.2% of the portfolio, followed by Par Technology (PAR, 13.9%) and Lifecore Biomedical (LFCR, 13.1%). Compared with Q3 2025, it opened 1 new position, sold out of 1, added to 5 and reduced 7. The biggest buy was Kingsway (KWY, shares +44%) and the biggest sale Louisiana-Pacific (LPX, shares −46%).
- Most Recent 13F
- Q2 2026
- Location
- GREENWICH, CT
- CIK
- 0001741129
- Portfolio Value
- $230.8M (Q4 2025)
- SEC Filing
- 0001420506-26-000339 ↗ filed Feb 13, 2026
Holdings Value
Holdings 15 stocks · $230.8M
| HGTY Hagerty Inc. Class A | 15.24% | 2,616,654 | $35.2M | Reduce -1.8% |
| PAR Par Technology Corp. | 13.94% | 886,883 | $32.2M | Reduce -8.9% |
| LFCR Lifecore Biomedical Inc. | 13.05% | 3,682,573 | $30.1M | Reduce -0.3% |
| CLBT Cellebrite Di Ltd. | 12.50% | 1,599,937 | $28.8M | Reduce -3.2% |
| KWY Kingsway Corp. | 10.98% | 1,884,529 | $25.3M | Add +43.8% |
| KKR KKR & Co. Inc. | 9.41% | 190,100 | $21.7M | Reduce -13.5% |
| ASTS Ast Spacemobile Inc. | 8.66% | 275,219 | $20.0M | Reduce -16.4% |
| BUR Burford Capital Ltd. | 7.21% | 1,865,312 | $16.6M | Add +16.4% |
| ALLT Allot Ltd. | 3.65% | 856,991 | $8.4M | Add +12.8% |
| LPX Louisiana-Pacific Corp. | 3.54% | 101,323 | $8.2M | Reduce -45.6% |
| PINS Pinterest Inc. Class A | 1.23% | 110,000 | $2.8M | New |
| NN Nextnav Inc. | 0.45% | 62,000 | $1.0M | Add +3.3% |
| MTRX Matrix Service Co. | 0.07% | 13,969 | $163K | No change |
| RSSS Research Solutions Inc. | 0.05% | 38,477 | $113K | No change |
| QRHC Quest Resource Holding Corp. | 0.03% | 31,463 | $59K | Add +2.2% |
Options reported separately and not counted above: TLT puts ($363.2M).
Portfolio Sells Q3 2025 → Q4 2025
| LPX Louisiana-Pacific Corp. | Reduce -45.6% | 3.54% | −3.29 |
| KKR KKR & Co. Inc. | Reduce -13.5% | 9.41% | −2.37 |
| SOC Sable Offshore Corp. | Sold out | 0.00% | −2.08 |
| PAR Par Technology Corp. | Reduce -8.9% | 13.94% | −1.96 |
| CLBT Cellebrite Di Ltd. | Reduce -3.2% | 12.50% | −0.14 |
| LFCR Lifecore Biomedical Inc. | Reduce -0.3% | 13.05% | +1.83 |
| ASTS Ast Spacemobile Inc. | Reduce -16.4% | 8.66% | +1.99 |
| HGTY Hagerty Inc. Class A | Reduce -1.8% | 15.24% | +2.00 |
Portfolio Buys Q3 2025 → Q4 2025
Options Activity Q3 2025 → Q4 2025
| IWM iShares Russell 2000 ETF | put | Sold out | 271,000 | $65.6Mbefore 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 | 17 | $154.0M | HGTY, CLBT, KWY, LFCR, PAR |
| Q1 2026 | 17 | $145.4M | HGTY, CLBT, KWY, ASTS, LFCR |
| Q4 2025 | 15 | $230.8M | HGTY, PAR, LFCR, CLBT, KWY |
| Q3 2025Amended | 15 | $242.3M | PAR, HGTY, CLBT, KKR, LFCR |
| Q2 2025 | 18 | $284.8M | PAR, KKR, LFCR, CLBT, BUR |
| Q1 2025 | 17 | $243.2M | PAR, CLBT, KKR, LFCR, BUR |
| Q4 2024 | 16 | $258.7M | PAR, CLBT, KKR, LFCR, BUR |
| Q3 2024 | 14 | $235.0M | PAR, KKR, CLBT, BUR, HGTY |
| Q2 2024 | 15 | $205.5M | PAR, KKR, CLBT, BUR, ALTG |
| Q1 2024 | 16 | $227.4M | PAR, KKR, CLBT, BUR, ALTG |