Harspring Capital Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Harspring Capital Management, LLC reported 14 stock positions worth $269.6 million. Its top holding was Enova International (ENVA) at 13.1% of the portfolio, followed by Darling Ingredients (DAR, 12.2%) and Cogent Communications Holdin (CCOI, 11.2%). Compared with Q3 2025, it sold out of 1, added to 2 and reduced 2. The biggest buy was 1STDIBS.COM (DIBS, shares +8%) and the biggest sale People (PPLI, shares −36%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001652327
- Portfolio Value
- $269.6M (Q4 2025)
- SEC Filing
- 0001652327-26-000002 ↗ filed Feb 13, 2026
Holdings Value
Holdings 14 stocks · $269.6M
| ENVA Enova International Inc. | 13.15% | 225,500 | $35.4M | No change |
| DAR Darling Ingredients Inc. | 12.22% | 915,000 | $32.9M | No change |
| CCOI Cogent Communications Holdin | 11.22% | 1,402,500 | $30.2M | Add +60.3% |
| META Meta Platforms Inc. Class A | 10.89% | 44,500 | $29.4M | No change |
| AMZN Amazon.com Inc. | 10.63% | 124,200 | $28.7M | No change |
| GOOG Alphabet Inc. Class C | 7.87% | 67,650 | $21.2M | No change |
| TPB Turning Point Brands Inc. | 7.30% | 181,500 | $19.7M | No change |
| HAPN Happen Inc. filed as LENDINGCLUB CORP | 6.04% | 860,000 | $16.3M | No change |
| NWSA News Corp. Class A | 5.83% | 601,500 | $15.7M | Reduce -3.2% |
| PPLI People Inc. filed as IAC INC | 4.57% | 315,000 | $12.3M | Reduce -35.7% |
| RUSHA Rush Enterprises Inc. Class A | 4.50% | 225,000 | $12.1M | No change |
| UHAL.B U-Haul Holding Co.-Non Voting | 3.21% | 185,000 | $8.6M | No change |
| DIBS 1STDIBS.COM Inc. | 1.47% | 660,000 | $4.0M | Add +8.2% |
| LGIH Lgi Homes Inc. | 1.11% | 69,500 | $3.0M | No change |
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 7 | $53.7M | DAR, GOOG, ENVA, AMZN, CCOI |
| Q1 2026 | 14 | $190.1M | DAR, ENVA, CCOI, AMZN, META |
| Q4 2025 | 14 | $269.6M | ENVA, DAR, CCOI, META, AMZN |
| Q3 2025 | 15 | $261.2M | CCOI, META, DAR, AMZN, ENVA |
| Q2 2025 | 17 | $284.2M | CCOI, META, DAR, AMZN, ENVA |
| Q1 2025 | 16 | $261.5M | CCOI, META, AMZN, PPLI, ENVA |
| Q4 2024 | 17 | $351.8M | CCOI, AMZN, META, ENVA, PPLI |
| Q3 2024 | 18 | $420.6M | CCOI, ESGR, PPLI, META, ENVA |
| Q2 2024 | 18 | $394.9M | CCOI, ESGR, AMZN, META, PPLI |
| Q1 2024 | 17 | $423.8M | CCOI, ESGR, PPLI, META, AMZN |