Lagoda Investment Management, L.P.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Lagoda Investment Management, L.P. reported 25 stock positions worth $162.2 million. Its top holding was Texas Pacific Land (TPL) at 25.2% of the portfolio, followed by Natera (NTRA, 7.9%) and Alphabet Class C (GOOG, 6.6%). Compared with Q4 2025, it opened 3 new positions, sold out of 3, added to 4 and reduced 18. The biggest buy was a new position in Profound Medical (PROF) and the biggest sale Trupanion (TRUP, shares −60%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001632108
- Portfolio Value
- $162.2M (Q1 2026)
- SEC Filing
- 0001493152-26-023723 ↗ filed May 15, 2026
Holdings Value
Holdings 25 stocks · $162.2M
| TPL Texas Pacific Land Corp. | 25.23% | 86,225 | $40.9M | Reduce -17.3% |
| NTRA Natera Inc. | 7.95% | 64,455 | $12.9M | Reduce -18.8% |
| GOOG Alphabet Inc. Class C | 6.61% | 37,340 | $10.7M | Reduce -19.0% |
| XPO Xpo Inc. | 5.96% | 49,700 | $9.7M | Reduce -27.6% |
| TSM Taiwan Semiconductor-SP ADR | 5.71% | 27,405 | $9.3M | Reduce -13.4% |
| TMDX Transmedics Group Inc. | 5.55% | 90,530 | $9.0M | Reduce -13.6% |
| STXS Stereotaxis Inc. | 4.94% | 4,350,400 | $8.0M | Reduce -10.5% |
| UI Ubiquiti Inc. | 4.36% | 8,955 | $7.1M | Reduce -24.2% |
| RNR Renaissancere Holdings Ltd. | 4.15% | 22,620 | $6.7M | Reduce -13.7% |
| GXO Gxo Logistics Inc. | 4.13% | 129,260 | $6.7M | Reduce -13.3% |
| PTC PTC Inc. | 3.64% | 41,455 | $5.9M | Reduce -17.9% |
| DMRC Digimarc Corp. | 3.22% | 1,062,800 | $5.2M | Add +53.0% |
| ARM Arm Holdings PLC-ADR | 2.43% | 26,085 | $3.9M | Reduce -8.3% |
| SNPS Synopsys Inc. | 2.30% | 9,390 | $3.7M | Add +7.3% |
| GH Guardant Health Inc. | 2.07% | 36,410 | $3.4M | Add +15.6% |
| VNRX Volitionrx Ltd. | 2.01% | 16,149,000 | $3.3M | Add +40.9% |
| PROF Profound Medical Corp. | 1.76% | 441,015 | $2.9M | New |
| MA Mastercard Inc. Class A | 1.56% | 5,075 | $2.5M | Reduce -12.6% |
| TRUP Trupanion Inc. | 1.56% | 98,550 | $2.5M | Reduce -60.5% |
| AMD Advanced Micro Devices | 1.44% | 11,480 | $2.3M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 1.08% | 3,670 | $1.8M | Reduce -5.2% |
| HEI Heico Corp. | 0.99% | 5,850 | $1.6M | Reduce -6.6% |
| QXO Qxo Inc. | 0.93% | 77,375 | $1.5M | New |
| MSFT Microsoft Corp. | 0.25% | 1,100 | $407K | Reduce -2.2% |
| GLD SPDR Gold Shares | 0.16% | 600 | $258K | Reduce -7.7% |
Portfolio Sells Q4 2025 → Q1 2026
| TRUP Trupanion Inc. | Reduce -60.5% | 1.56% | −3.84 |
| NTRA Natera Inc. | Reduce -18.8% | 7.95% | −2.58 |
| TMDX Transmedics Group Inc. | Reduce -13.6% | 5.55% | −1.83 |
| GOOG Alphabet Inc. Class C | Reduce -19.0% | 6.61% | −1.77 |
| STXS Stereotaxis Inc. | Reduce -10.5% | 4.94% | −1.54 |
| PTC PTC Inc. | Reduce -17.9% | 3.64% | −1.45 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.47 |
| GXO Gxo Logistics Inc. | Reduce -13.3% | 4.13% | −0.41 |
| MA Mastercard Inc. Class A | Reduce -12.6% | 1.56% | −0.35 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −0.27 |
| HEI Heico Corp. | Reduce -6.6% | 0.99% | −0.18 |
| RNR Renaissancere Holdings Ltd. | Reduce -13.7% | 4.15% | −0.12 |
| MSFT Microsoft Corp. | Reduce -2.2% | 0.25% | −0.06 |
| RIVN Rivian Automotive Inc. Class A | Sold out | 0.00% | −0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -5.2% | 1.08% | −0.04 |
| GLD SPDR Gold Shares | Reduce -7.7% | 0.16% | +0.01 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -13.4% | 5.71% | +0.15 |
| XPO Xpo Inc. | Reduce -27.6% | 5.96% | +0.56 |
| UI Ubiquiti Inc. | Reduce -24.2% | 4.36% | +0.58 |
| ARM Arm Holdings PLC-ADR | Reduce -8.3% | 2.43% | +0.63 |
| TPL Texas Pacific Land Corp. | Reduce -17.3% | 25.23% | +7.90 |
Portfolio Buys Q4 2025 → Q1 2026
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 25 | $181.9M | TPL, NTRA, TSM, GOOG, AMD |
| Q1 2026 | 25 | $162.2M | TPL, NTRA, GOOG, XPO, TSM |
| Q4 2025 | 25 | $172.7M | TPL, NTRA, GOOG, TMDX, STXS |
| Q3 2025 | 23 | $176.7M | TPL, STXS, NTRA, TMDX, TRUP |
| Q2 2025 | 24 | $176.5M | TPL, TRUP, NTRA, TMDX, STXS |
| Q1 2025 | 33 | $157.0M | TPL, NTRA, TRUP, DMRC, PTC |
| Q4 2024 | 34 | $184.9M | TPL, DMRC, NTRA, TRUP, GOOG |
| Q3 2024 | 34 | $174.1M | TPL, DMRC, NTRA, TRUP, PTC |
| Q2 2024 | 40 | $173.8M | TPL, DMRC, NTRA, PTC, TMDX |
| Q1 2024 | 40 | $163.0M | TPL, DMRC, NTRA, PTC, XPO |