JBF Capital, Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), JBF Capital, Inc. reported 76 stock positions worth $704.4 million. Its top holding was Vanguard S&P 500 ETF (VOO) at 44.3% of the portfolio, followed by Microsoft (MSFT, 13.2%) and Amazon.com (AMZN, 8.5%). Compared with Q2 2025, it opened 21 new positions, sold out of 8, added to 4 and reduced 8. The biggest buy was Alphabet Class A (GOOGL, shares +335%) and the biggest sale an exit from iShares Bitcoin Trust ETF (IBIT).

Most Recent 13F
Q2 2026
Location
Aspen, CO
CIK
0001483864
Portfolio Value
$704.4M (Q3 2025)
SEC Filing
0000935836-25-000668 ↗ filed Nov 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $611.8M Q1 2024 Q2 2024: $646.3M Q2 2024 Q3 2024: $669.9M Q3 2024 Q4 2024: $583.4M Q4 2024 Q1 2025: $519.8M Q1 2025 Q2 2025: $626.6M Q2 2025 Q3 2025: $704.4M $704.4M Q3 2025 Q4 2025: $691.6M Q4 2025 Q1 2026: $674.3M Q1 2026 Q2 2026: $763.6M Q2 2026

Holdings 76 stocks · $704.4M
VOO Vanguard S&P 500 ETF 44.26% 509,121 $311.8M No change
MSFT Microsoft Corp. 13.16% 179,000 $92.7M No change
AMZN Amazon.com Inc. 8.48% 272,000 $59.7M No change
GRBK Green Brick Partners Inc. 4.58% 436,530 $32.2M No change
QQQ Invesco QQQ Trust Series 1 3.92% 46,000 $27.6M No change
GOOGL Alphabet Inc. Class A 3.45% 100,000 $24.3M Add +334.8%
META Meta Platforms Inc. Class A 3.18% 30,500 $22.4M Add +48.8%
WFC Wells Fargo & Co. 2.38% 200,000 $16.8M No change
LOW Lowe's Cos Inc. 1.38% 38,800 $9.8M No change
NFLX Netflix Inc. 1.34% 7,900 $9.5M No change
NVDA Nvidia Corp. 1.30% 49,000 $9.1M No change
URI United Rentals Inc. 0.95% 7,000 $6.7M No change
AVGO Broadcom Inc. 0.84% 18,000 $5.9M No change
DELL Dell Technologies -C 0.66% 33,000 $4.7M Add +10.0%
CRWD CrowdStrike Holdings Inc. Class A 0.66% 9,537 $4.7M No change
KF Korea Fund Inc. 0.62% 142,000 $4.3M No change
GSK GSK PLC-Spon ADR 0.61% 100,000 $4.3M No change
HD Home Depot Inc. 0.54% 9,365 $3.8M No change
VXX Ipath Series B S&P 500 Vix filed as BARCLAYS BANK PLC 0.51% 108,000 $3.6M New
NOW ServiceNow Inc. 0.42% 3,204 $2.9M No change
THTX Theratechnologies Inc. 0.41% 850,655 $2.9M New
GTX Garrett Motion Inc. 0.34% 177,861 $2.4M No change
AER Aercap Holdings NV 0.34% 20,000 $2.4M Reduce -7.0%
ISCF iShares International Small 0.33% 56,312 $2.3M No change
DHIL Diamond Hill Investment Grp 0.31% 15,388 $2.2M No change
IVLU iShares MSCI International V 0.30% 60,000 $2.1M No change
CRH CRH PLC 0.26% 15,000 $1.8M No change
MU Micron Technology Inc. 0.24% 10,000 $1.7M No change
JPM JPMorgan Chase & Co. 0.22% 5,000 $1.6M No change
XBI SS SPDR S&P Biotech ETF 0.21% 15,000 $1.5M New
LU Lufax Holding Ltd.-ADR 0.20% 339,884 $1.4M No change
SYF Synchrony Financial 0.18% 18,000 $1.3M Reduce -5.3%
SF Stifel Financial Corp. 0.16% 10,000 $1.1M No change
LAUR Laureate Education Inc. 0.16% 35,000 $1.1M No change
GLUE Monte Rosa Therapeutics Inc. 0.16% 148,566 $1.1M New
PSNL Personalis Inc. 0.15% 166,104 $1.1M New
PRME Prime Medicine Inc. 0.15% 188,900 $1.0M New
TWST Twist Bioscience Corp. 0.15% 37,100 $1.0M New
ARKG ARK Genomic Revolution ETF 0.15% 37,200 $1.0M New
FSLR First Solar Inc. 0.14% 4,551 $1.0M New
LAB Standard Biotools Inc. 0.14% 770,654 $1.0M New
NLOP Net Lease Office Property 0.14% 32,228 $956K No change
GTLB Gitlab Inc. Class A 0.14% 21,200 $956K New
BBVA Banco Bilbao Vizcaya-SP ADR 0.12% 43,500 $837K Reduce -10.3%
XPO Xpo Inc. 0.11% 6,000 $776K No change
SCPH Scpharmaceuticals Inc. 0.11% 135,000 $765K New
LWAY Lifeway Foods Inc. 0.11% 27,500 $763K No change
COF Capital One Financial Corp. 0.11% 3,500 $744K Reduce -12.5%
ETNB 89BIO Inc. 0.10% 50,000 $735K New
PBR Petroleo Brasileiro-Spon ADR 0.10% 60,000 $709K Add +20.0%
ELME Elme Communities 0.10% 40,000 $674K New
ET Energy Transfer LP 0.07% 30,000 $515K No change
XPEL Xpel Inc. 0.07% 15,000 $496K No change
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC 0.06% 5,500 $456K Reduce -8.3%
CNC Centene Corp. 0.06% 12,000 $428K New
UNH Unitedhealth Group Inc. 0.06% 1,200 $414K New
SLM SLM Corp. 0.06% 14,000 $388K Reduce -12.5%
VTI VG Morningstar TS MKT ETF-US 0.05% 1,000 $328K No change
HOOK Hookipa Pharma Inc. 0.05% 347,000 $321K New
GM General Motors Co. 0.04% 5,000 $305K No change
VMD Viemed Healthcare Inc. 0.04% 43,578 $296K No change
GPN Global Payments Inc. 0.04% 3,500 $291K New
BFH Bread Financial Holdings Inc. 0.04% 5,000 $279K No change
FOR Forestar Group Inc. 0.04% 10,000 $266K No change
AMP Ameriprise Financial Inc. 0.04% 525 $258K No change
BBWI Bath & Body Works Inc. 0.04% 10,000 $258K New
SRG Seritage Growth Prop- A 0.04% 60,000 $255K No change
OMF Onemain Holdings Inc. 0.04% 4,400 $248K Reduce -6.4%
EC Ecopetrol SA-Sponsored ADR 0.03% 20,000 $184K No change
BOOM DMC Global Inc. 0.02% 20,000 $169K No change
NOAH Noah Holdings Ltd.-Spon ADS filed as NOAH HLDGS LTD 0.02% 11,000 $127K No change
TKC Turkcell Iletisim Hizmet-ADR 0.01% 15,000 $90K No change
CRNT Ceragon Networks Ltd. 0.01% 36,458 $85K No change
GPRK Geopark Ltd. 0.01% 10,000 $64K Reduce -33.3%
LVTX Lava Therapeutics NV 0.01% 23,911 $37K New
THRD Third Harmonic Bio Inc. 0.00% 250,000 $8K New

Options reported separately and not counted above: SPY puts ($626K), TSLA puts ($510K).

Portfolio Sells Q2 2025 → Q3 2025
IBIT iShares Bitcoin Trust ETF Sold out 0.00% −0.85
VST Vistra Corp. Sold out 0.00% −0.77
ICAD Icad Inc. Sold out 0.00% −0.11
VIGL Vigil Neuroscience Inc. Sold out 0.00% −0.09
AER Aercap Holdings NV Reduce -7.0% 0.34% −0.06
INBX Inhibrx Biosciences Inc. Sold out 0.00% −0.05
COF Capital One Financial Corp. Reduce -12.5% 0.11% −0.03
BHVN Biohaven Ltd. Sold out 0.00% −0.03
SLM SLM Corp. Reduce -12.5% 0.06% −0.03
AKYA Akoya Biosciences Inc. Sold out 0.00% −0.02
SYF Synchrony Financial Reduce -5.3% 0.18% −0.02
KB KB Financial Group Inc.-ADR Reduce -8.3% 0.06% −0.01
OMF Onemain Holdings Inc. Reduce -6.4% 0.04% −0.01
GPRK Geopark Ltd. Reduce -33.3% 0.01% −0.01
BBVA Banco Bilbao Vizcaya-SP ADR Reduce -10.3% 0.12% −0.00
SBT Sterling Bancorp Inc. Sold out 0.00% 0.00

Portfolio Buys Q2 2025 → Q3 2025
GOOGL Alphabet Inc. Class A Add +334.8% 3.45% +2.80
META Meta Platforms Inc. Class A Add +48.8% 3.18% +0.76
VXX Ipath Series B S&P 500 Vix New 0.51% +0.51
THTX Theratechnologies Inc. New 0.41% +0.41
XBI SS SPDR S&P Biotech ETF New 0.21% +0.21
GLUE Monte Rosa Therapeutics Inc. New 0.16% +0.16
PSNL Personalis Inc. New 0.15% +0.15
PRME Prime Medicine Inc. New 0.15% +0.15
TWST Twist Bioscience Corp. New 0.15% +0.15
ARKG ARK Genomic Revolution ETF New 0.15% +0.15
FSLR First Solar Inc. New 0.14% +0.14
LAB Standard Biotools Inc. New 0.14% +0.14
GTLB Gitlab Inc. Class A New 0.14% +0.14
SCPH Scpharmaceuticals Inc. New 0.11% +0.11
ETNB 89BIO Inc. New 0.10% +0.10
ELME Elme Communities New 0.10% +0.10
DELL Dell Technologies -C Add +10.0% 0.66% +0.08
CNC Centene Corp. New 0.06% +0.06
UNH Unitedhealth Group Inc. New 0.06% +0.06
HOOK Hookipa Pharma Inc. New 0.05% +0.05
GPN Global Payments Inc. New 0.04% +0.04
BBWI Bath & Body Works Inc. New 0.04% +0.04
PBR Petroleo Brasileiro-Spon ADR Add +20.0% 0.10% +0.01
LVTX Lava Therapeutics NV New 0.01% +0.01
THRD Third Harmonic Bio Inc. New 0.00% +0.00

Options Activity Q2 2025 → Q3 2025
SPY SS SPDR S&P 500 ETF Trust-US put New 600 $626K
TSLA Tesla Inc. put Reduce -61.8% 1,300 $510K
GSK GSK PLC-Spon ADR call Sold out 200 $52Kbefore exit
HPQ HP Inc. call Sold out 200 $28Kbefore exit

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 98$763.6MVOO, AMZN, MSFT, GOOGL, GRBK
Q1 2026 110$674.3MVOO, MSFT, AMZN, GOOGL, GRBK
Q4 2025 76$691.6MVOO, MSFT, AMZN, GOOGL, GRBK
Q3 2025Amended 76$704.4MVOO, MSFT, AMZN, GRBK, QQQ
Q2 2025 63$626.6MVOO, MSFT, AMZN, GRBK, QQQ
Q1 2025 63$519.8MVOO, MSFT, AMZN, GRBK, IBIT
Q4 2024 68$583.4MVOO, MSFT, AMZN, GRBK, IBIT
Q3 2024 81$669.9MVOO, MSFT, AMZN, GRBK, CNQ
Q2 2024 81$646.3MVOO, MSFT, AMZN, GRBK, MU
Q1 2024 76$611.8MVOO, MSFT, AMZN, GRBK, MU