JBF Capital, Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), JBF Capital, Inc. reported 76 stock positions worth $691.6 million. Its top holding was Vanguard S&P 500 ETF (VOO) at 46.2% of the portfolio, followed by Microsoft (MSFT, 11.9%) and Amazon.com (AMZN, 9.1%). Compared with Q3 2025, it opened 19 new positions, sold out of 19, added to 8 and reduced 11. The biggest buy was SS SPDR S&P Biotech ETF (XBI, shares +600%) and the biggest sale an exit from Wells Fargo (WFC).
- Most Recent 13F
- Q2 2026
- Location
- Aspen, CO
- CIK
- 0001483864
- Portfolio Value
- $691.6M (Q4 2025)
- SEC Filing
- 0000935836-26-000081 ↗ filed Feb 12, 2026
Holdings Value
Holdings 76 stocks · $691.6M
| VOO Vanguard S&P 500 ETF | 46.17% | 509,121 | $319.3M | No change |
| MSFT Microsoft Corp. | 11.87% | 169,730 | $82.1M | Reduce -5.2% |
| AMZN Amazon.com Inc. | 9.08% | 272,000 | $62.8M | No change |
| GOOGL Alphabet Inc. Class A | 4.53% | 100,000 | $31.3M | No change |
| GRBK Green Brick Partners Inc. | 3.96% | 436,530 | $27.4M | No change |
| QQQ Invesco QQQ Trust Series 1 | 3.20% | 36,000 | $22.1M | Reduce -21.7% |
| META Meta Platforms Inc. Class A | 1.96% | 20,500 | $13.5M | Reduce -32.8% |
| XBI SS SPDR S&P Biotech ETF | 1.85% | 105,000 | $12.8M | Add +600.0% |
| RSP Invesco S&P 500 Equal Weight | 1.39% | 50,000 | $9.6M | New |
| LOW Lowe's Cos Inc. | 1.35% | 38,800 | $9.4M | No change |
| NVDA Nvidia Corp. | 1.32% | 49,000 | $9.1M | No change |
| NFLX Netflix Inc. | 0.94% | 69,000 | $6.5M | Reduce -12.7% |
| AVGO Broadcom Inc. | 0.89% | 17,800 | $6.2M | Reduce -1.1% |
| CBK Commercial Bancgroup Inc. | 0.89% | 250,000 | $6.1M | New |
| URI United Rentals Inc. | 0.82% | 7,000 | $5.7M | No change |
| KF Korea Fund Inc. | 0.75% | 142,000 | $5.2M | No change |
| GSK GSK PLC-Spon ADR | 0.71% | 100,000 | $4.9M | No change |
| VXX Ipath Series B S&P 500 Vix filed as BARCLAYS BANK PLC | 0.64% | 166,000 | $4.4M | Add +53.7% |
| REGN Regeneron Pharmaceuticals | 0.56% | 5,000 | $3.9M | New |
| HD Home Depot Inc. | 0.47% | 9,365 | $3.2M | No change |
| ASML ASML Holding NV-NY Reg SHS | 0.46% | 3,000 | $3.2M | New |
| MU Micron Technology Inc. | 0.41% | 10,000 | $2.9M | No change |
| AER Aercap Holdings NV | 0.41% | 19,500 | $2.8M | Reduce -2.5% |
| GTX Garrett Motion Inc. | 0.39% | 155,000 | $2.7M | Reduce -12.8% |
| DHIL Diamond Hill Investment Grp | 0.38% | 15,388 | $2.6M | No change |
| PFE Pfizer Inc. | 0.36% | 100,000 | $2.5M | New |
| ISCF iShares International Small | 0.34% | 56,312 | $2.3M | No change |
| IVLU iShares MSCI International V | 0.33% | 60,000 | $2.3M | No change |
| CRH CRH PLC | 0.27% | 15,000 | $1.9M | No change |
| JPM JPMorgan Chase & Co. | 0.23% | 5,000 | $1.6M | No change |
| SYF Synchrony Financial | 0.23% | 19,300 | $1.6M | Add +7.2% |
| SF Stifel Financial Corp. | 0.18% | 10,000 | $1.3M | No change |
| LAUR Laureate Education Inc. | 0.17% | 35,000 | $1.2M | No change |
| LU Lufax Holding Ltd.-ADR | 0.13% | 339,884 | $870K | No change |
| AVDL Avadel Pharmaceuticals Ltd. | 0.12% | 40,000 | $862K | New |
| COF Capital One Financial Corp. | 0.12% | 3,500 | $848K | No change |
| NLOP Net Lease Office Property | 0.12% | 32,228 | $831K | No change |
| XPO Xpo Inc. | 0.12% | 6,000 | $815K | No change |
| XPEL Xpel Inc. | 0.11% | 15,000 | $749K | No change |
| PBR Petroleo Brasileiro-Spon ADR | 0.10% | 62,000 | $699K | Add +3.3% |
| ELME Elme Communities | 0.10% | 40,000 | $696K | No change |
| APARTMENT INVT & MGMT CO | 0.09% | 110,000 | $653K | New |
| BBVA Banco Bilbao Vizcaya-SP ADR | 0.09% | 27,500 | $641K | Reduce -36.8% |
| COYA Coya Therapeutics Inc. | 0.08% | 100,006 | $580K | New |
| ARKG ARK Genomic Revolution ETF | 0.08% | 18,000 | $521K | Reduce -51.6% |
| ET Energy Transfer LP | 0.07% | 30,000 | $495K | No change |
| KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC | 0.07% | 5,500 | $473K | No change |
| SLM SLM Corp. | 0.07% | 17,000 | $460K | Add +21.4% |
| BN Brookfield Corp. | 0.07% | 10,000 | $459K | New |
| BFH Bread Financial Holdings Inc. | 0.06% | 6,000 | $444K | Add +20.0% |
| GPN Global Payments Inc. | 0.06% | 5,600 | $433K | Add +60.0% |
| CNC Centene Corp. | 0.06% | 10,000 | $412K | Reduce -16.7% |
| GM General Motors Co. | 0.06% | 5,000 | $407K | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.05% | 1,000 | $335K | No change |
| VMD Viemed Healthcare Inc. | 0.05% | 43,578 | $324K | No change |
| IROQ If Bancorp Inc. | 0.05% | 12,000 | $324K | New |
| STIM Neuronetics Inc. | 0.05% | 233,166 | $322K | New |
| OMF Onemain Holdings Inc. | 0.04% | 4,400 | $297K | No change |
| UNH Unitedhealth Group Inc. | 0.04% | 900 | $297K | Reduce -25.0% |
| FISV Fiserv Inc. | 0.04% | 4,000 | $269K | New |
| LBRDA Liberty Broadband-A | 0.04% | 5,500 | $266K | New |
| BBWI Bath & Body Works Inc. | 0.04% | 13,000 | $261K | Add +30.0% |
| AMP Ameriprise Financial Inc. | 0.04% | 525 | $257K | No change |
| FOR Forestar Group Inc. | 0.04% | 10,000 | $246K | No change |
| SOHO Sotherly Hotels Inc. | 0.03% | 100,000 | $215K | New |
| ELV Elevance Health Inc. | 0.03% | 600 | $210K | New |
| CMCSA Comcast Corp. Class A | 0.03% | 7,000 | $209K | New |
| CROX Crocs Inc. | 0.03% | 2,400 | $205K | New |
| AMG Affiliated Managers Group | 0.03% | 700 | $202K | New |
| EC Ecopetrol SA-Sponsored ADR | 0.03% | 20,000 | $200K | No change |
| SRG Seritage Growth Prop- A | 0.03% | 60,000 | $195K | No change |
| BOOM DMC Global Inc. | 0.02% | 20,000 | $134K | No change |
| NOAH Noah Holdings Ltd.-Spon ADS filed as NOAH HLDGS LTD | 0.02% | 11,000 | $110K | No change |
| TKC Turkcell Iletisim Hizmet-ADR | 0.01% | 15,000 | $82K | No change |
| CRNT Ceragon Networks Ltd. | 0.01% | 36,458 | $77K | No change |
| FPH Five Point Holdings LLC Class A | 0.01% | 10,000 | $56K | New |
Options reported separately and not counted above: SPY puts ($692K), TSLA puts ($523K).
Portfolio Sells Q3 2025 → Q4 2025
| WFC Wells Fargo & Co. | Sold out | 0.00% | −2.38 |
| MSFT Microsoft Corp. | Reduce -5.2% | 11.87% | −1.29 |
| META Meta Platforms Inc. Class A | Reduce -32.8% | 1.96% | −1.22 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -21.7% | 3.20% | −0.72 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.66 |
| CRWD CrowdStrike Holdings Inc. Class A | Sold out | 0.00% | −0.66 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −0.42 |
| THTX Theratechnologies Inc. | Sold out | 0.00% | −0.41 |
| NFLX Netflix Inc. | Reduce -12.7% | 0.94% | −0.41 |
| GLUE Monte Rosa Therapeutics Inc. | Sold out | 0.00% | −0.16 |
| PSNL Personalis Inc. | Sold out | 0.00% | −0.15 |
| PRME Prime Medicine Inc. | Sold out | 0.00% | −0.15 |
| TWST Twist Bioscience Corp. | Sold out | 0.00% | −0.15 |
| FSLR First Solar Inc. | Sold out | 0.00% | −0.14 |
| LAB Standard Biotools Inc. | Sold out | 0.00% | −0.14 |
| GTLB Gitlab Inc. Class A | Sold out | 0.00% | −0.14 |
| SCPH Scpharmaceuticals Inc. | Sold out | 0.00% | −0.11 |
| LWAY Lifeway Foods Inc. | Sold out | 0.00% | −0.11 |
| ETNB 89BIO Inc. | Sold out | 0.00% | −0.10 |
| ARKG ARK Genomic Revolution ETF | Reduce -51.6% | 0.08% | −0.07 |
| HOOK Hookipa Pharma Inc. | Sold out | 0.00% | −0.05 |
| BBVA Banco Bilbao Vizcaya-SP ADR | Reduce -36.8% | 0.09% | −0.03 |
| UNH Unitedhealth Group Inc. | Reduce -25.0% | 0.04% | −0.02 |
| GPRK Geopark Ltd. | Sold out | 0.00% | −0.01 |
| LVTX Lava Therapeutics NV | Sold out | 0.00% | −0.01 |
| CNC Centene Corp. | Reduce -16.7% | 0.06% | −0.00 |
| THRD Third Harmonic Bio Inc. | Sold out | 0.00% | −0.00 |
| GTX Garrett Motion Inc. | Reduce -12.8% | 0.39% | +0.05 |
| AVGO Broadcom Inc. | Reduce -1.1% | 0.89% | +0.05 |
| AER Aercap Holdings NV | Reduce -2.5% | 0.41% | +0.06 |
Portfolio Buys Q3 2025 → Q4 2025
| XBI SS SPDR S&P Biotech ETF | Add +600.0% | 1.85% | +1.64 |
| RSP Invesco S&P 500 Equal Weight | New | 1.39% | +1.39 |
| CBK Commercial Bancgroup Inc. | New | 0.89% | +0.89 |
| REGN Regeneron Pharmaceuticals | New | 0.56% | +0.56 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.46% | +0.46 |
| PFE Pfizer Inc. | New | 0.36% | +0.36 |
| VXX Ipath Series B S&P 500 Vix | Add +53.7% | 0.64% | +0.13 |
| AVDL Avadel Pharmaceuticals Ltd. | New | 0.12% | +0.12 |
| APARTMENT INVT & MGMT CO | New | 0.09% | +0.09 |
| COYA Coya Therapeutics Inc. | New | 0.08% | +0.08 |
| BN Brookfield Corp. | New | 0.07% | +0.07 |
| SYF Synchrony Financial | Add +7.2% | 0.23% | +0.05 |
| IROQ If Bancorp Inc. | New | 0.05% | +0.05 |
| STIM Neuronetics Inc. | New | 0.05% | +0.05 |
| FISV Fiserv Inc. | New | 0.04% | +0.04 |
| LBRDA Liberty Broadband-A | New | 0.04% | +0.04 |
| SOHO Sotherly Hotels Inc. | New | 0.03% | +0.03 |
| ELV Elevance Health Inc. | New | 0.03% | +0.03 |
| CMCSA Comcast Corp. Class A | New | 0.03% | +0.03 |
| CROX Crocs Inc. | New | 0.03% | +0.03 |
| AMG Affiliated Managers Group | New | 0.03% | +0.03 |
| BFH Bread Financial Holdings Inc. | Add +20.0% | 0.06% | +0.02 |
| GPN Global Payments Inc. | Add +60.0% | 0.06% | +0.02 |
| SLM SLM Corp. | Add +21.4% | 0.07% | +0.01 |
| FPH Five Point Holdings LLC Class A | New | 0.01% | +0.01 |
| BBWI Bath & Body Works Inc. | Add +30.0% | 0.04% | +0.00 |
| PBR Petroleo Brasileiro-Spon ADR | Add +3.3% | 0.10% | +0.00 |
Options Activity Q3 2025 → Q4 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +66.7% | 1,000 | $692K |
| TSLA Tesla Inc. | put | Add +30.8% | 1,700 | $523K |
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 | 98 | $763.6M | VOO, AMZN, MSFT, GOOGL, GRBK |
| Q1 2026 | 110 | $674.3M | VOO, MSFT, AMZN, GOOGL, GRBK |
| Q4 2025 | 76 | $691.6M | VOO, MSFT, AMZN, GOOGL, GRBK |
| Q3 2025Amended | 76 | $704.4M | VOO, MSFT, AMZN, GRBK, QQQ |
| Q2 2025 | 63 | $626.6M | VOO, MSFT, AMZN, GRBK, QQQ |
| Q1 2025 | 63 | $519.8M | VOO, MSFT, AMZN, GRBK, IBIT |
| Q4 2024 | 68 | $583.4M | VOO, MSFT, AMZN, GRBK, IBIT |
| Q3 2024 | 81 | $669.9M | VOO, MSFT, AMZN, GRBK, CNQ |
| Q2 2024 | 81 | $646.3M | VOO, MSFT, AMZN, GRBK, MU |
| Q1 2024 | 76 | $611.8M | VOO, MSFT, AMZN, GRBK, MU |