JCP Investment Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 18, 2026), JCP Investment Management, LLC reported 18 stock positions worth $126.6 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 18.9% of the portfolio, followed by Fidelity National Financial (FNF, 14.7%) and United Natural Foods (UNFI, 12.3%). Compared with Q3 2025, it opened 3 new positions, sold out of 3, added to 6 and reduced 6. The biggest buy was Howard Hughes (HHH, shares +1711%) and the biggest sale Generac (GNRC, shares −83%).
- Most Recent 13F
- Q2 2026
- Location
- HOUSTON, TX
- CIK
- 0001461945
- Portfolio Value
- $126.6M (Q4 2025)
- SEC Filing
- 0001461945-26-000001 ↗ filed Feb 18, 2026
Holdings Value
Holdings 18 stocks · $126.6M
| SPY SS SPDR S&P 500 ETF Trust-US | 18.86% | 34,995 | $23.9M | Add +1.3% |
| FNF Fidelity National Financial | 14.73% | 341,527 | $18.6M | Reduce -1.4% |
| UNFI United Natural Foods Inc. | 12.33% | 463,300 | $15.6M | Reduce -1.5% |
| HHH Howard Hughes Holdings Inc. | 11.42% | 181,100 | $14.4M | Add +1711.0% |
| NATL NCR Atleos Corp. | 8.69% | 288,602 | $11.0M | Add +11.0% |
| KMI Kinder Morgan Inc. | 6.07% | 279,239 | $7.7M | Reduce -2.9% |
| RRGB Red Robin Gourmet Burgers | 5.99% | 1,871,235 | $7.6M | Add +0.6% |
| HE Hawaiian Electric Inds | 4.13% | 425,000 | $5.2M | Add +18.1% |
| JYNT The Joint Corp. | 4.09% | 593,906 | $5.2M | No change |
| BJRI Bj's Restaurants Inc. | 3.89% | 125,000 | $4.9M | No change |
| FCRS.U Futurecrest Acquisition Corp. | 2.68% | 330,677 | $3.4M | Add +230.7% |
| GNRC Generac Holdings Inc. | 2.37% | 22,000 | $3.0M | Reduce -82.6% |
| TLF Tandy Leather Factory Inc. | 1.90% | 876,059 | $2.4M | No change |
| FARM Farmer Bros Co. | 1.13% | 979,650 | $1.4M | Reduce -1.3% |
| KR Kroger Co. | 0.76% | 15,293 | $956K | Reduce -41.9% |
| FG F&G Annuities & Life Inc. | 0.50% | 20,489 | $632K | New |
| PRSU Pursuit Attractions and Hosp | 0.40% | 15,000 | $505K | New |
| KRSP.U Rice Acquisition Corp. 3 | 0.08% | 10,000 | $105K | New |
Portfolio Sells Q3 2025 → Q4 2025
| GNRC Generac Holdings Inc. | Reduce -82.6% | 2.37% | −11.52 |
| MUSA Murphy USA Inc. | Sold out | 0.00% | −7.10 |
| DENN Denny's Corp. | Sold out | 0.00% | −2.84 |
| DG Dollar General Corp. | Sold out | 0.00% | −1.35 |
| KR Kroger Co. | Reduce -41.9% | 0.76% | −0.41 |
| FARM Farmer Bros Co. | Reduce -1.3% | 1.13% | +0.02 |
| UNFI United Natural Foods Inc. | Reduce -1.5% | 12.33% | +0.73 |
| KMI Kinder Morgan Inc. | Reduce -2.9% | 6.07% | +0.73 |
| FNF Fidelity National Financial | Reduce -1.4% | 14.73% | +1.00 |
Portfolio Buys Q3 2025 → Q4 2025
| HHH Howard Hughes Holdings Inc. | Add +1711.0% | 11.42% | +10.88 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +1.3% | 18.86% | +3.77 |
| FCRS.U Futurecrest Acquisition Corp. | Add +230.7% | 2.68% | +2.02 |
| NATL NCR Atleos Corp. | Add +11.0% | 8.69% | +1.99 |
| HE Hawaiian Electric Inds | Add +18.1% | 4.13% | +1.53 |
| FG F&G Annuities & Life Inc. | New | 0.50% | +0.50 |
| PRSU Pursuit Attractions and Hosp | New | 0.40% | +0.40 |
| KRSP.U Rice Acquisition Corp. 3 | New | 0.08% | +0.08 |
| RRGB Red Robin Gourmet Burgers | Add +0.6% | 5.99% | −2.38 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 26 | $187.1M | SPY, UNFI, HHH, FNF, RRGB |
| Q1 2026 | 24 | $150.3M | SPY, UNFI, FNF, HHH, SRE |
| Q4 2025 | 18 | $126.6M | SPY, FNF, UNFI, HHH, NATL |
| Q3 2025 | 18 | $152.6M | SPY, GNRC, FNF, UNFI, RRGB |
| Q2 2025 | 20 | $173.3M | SPY, QSR, GNRC, DG, DPZ |
| Q1 2025 | 17 | $162.2M | MKL, SPY, QSR, BRK.B, UNFI |
| Q4 2024 | 17 | $169.7M | CAKE, SPY, MKL, ET, UNFI |
| Q3 2024 | 15 | $120.6M | SPY, CRH, BRK.B, QSR, ET |
| Q2 2024 | 13 | $89.5M | SPY, CRH, BRK.B, QSR, MKL |
| Q1 2024 | 11 | $62.7M | CRH, BRK.B, QSR, WCC, LAMR |