LB Partners LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 29, 2025), LB Partners LLC reported 23 stock positions worth $156.6 million. Its top holding was Gogo (GOGO) at 23.3% of the portfolio, followed by Wideopenwest (WOW, 17.4%) and Millicom Intl Cellular (TIGO, 9.6%). Compared with Q1 2025, it opened 3 new positions, sold out of 2, added to 3 and reduced 8. The biggest buy was a new position in Capital One Financial (COF) and the biggest sale Wideopenwest (WOW, shares −9%).
- Most Recent 13F
- Q2 2026
- Location
- CHARLOTTESVILLE, VA
- CIK
- 0002007877
- Portfolio Value
- $156.6M (Q2 2025)
- SEC Filing
- 0001104659-25-071794 ↗ filed Jul 29, 2025
Holdings Value
Holdings 23 stocks · $156.6M
| GOGO Gogo Inc. | 23.28% | 2,483,979 | $36.5M | Add +5.1% |
| WOW Wideopenwest Inc. | 17.40% | 6,711,471 | $27.2M | Reduce -8.8% |
| TIGO Millicom Intl Cellular S.A. | 9.62% | 402,000 | $15.1M | Reduce -22.8% |
| COF Capital One Financial Corp. | 8.70% | 64,056 | $13.6M | New |
| RELY Remitly Global Inc. | 7.59% | 633,270 | $11.9M | Add +10.5% |
| AXP American Express Co. | 6.52% | 32,000 | $10.2M | No change |
| LPRO Open Lending Corp. | 6.26% | 5,050,841 | $9.8M | New |
| OPFI Oppfi Inc. | 4.64% | 520,000 | $7.3M | Reduce -14.2% |
| LBRDK Liberty Broadband-C | 2.39% | 38,075 | $3.7M | Reduce -51.2% |
| GOOGL Alphabet Inc. Class A | 2.14% | 19,000 | $3.3M | No change |
| THRY Thryv Holdings Inc. | 1.94% | 249,705 | $3.0M | Add +25.0% |
| LQDA Liquidia Corp. | 1.59% | 200,000 | $2.5M | No change |
| KKR KKR & Co. Inc. | 1.45% | 17,100 | $2.3M | No change |
| DBRG Digitalbridge Group Inc. | 1.39% | 210,000 | $2.2M | Reduce -37.3% |
| FRPH FRP Holdings Inc. filed as FRP HLDGS INC | 1.37% | 79,582 | $2.1M | Reduce -36.7% |
| AMZN Amazon.com Inc. | 1.12% | 8,000 | $1.8M | New |
| GOOG Alphabet Inc. Class C | 0.91% | 8,000 | $1.4M | Reduce -53.5% |
| IMXI International Money Express | 0.84% | 130,000 | $1.3M | Reduce -17.1% |
| SPGI S&P Global Inc. | 0.25% | 750 | $395K | No change |
| SGOL Abrdn Physical Gold Shares | 0.23% | 11,000 | $354K | No change |
| TFPM Triple Flag Precious Met | 0.23% | 14,913 | $353K | No change |
| MTA Metalla Royalty & Streaming | 0.09% | 36,000 | $138K | No change |
| BSM Black Stone Minerals LP | 0.08% | 10,000 | $131K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| WOW Wideopenwest Inc. | Reduce -8.8% | 17.40% | −8.47 |
| DFS Discover Financial Services | Sold out | 0.00% | −7.65 |
| LBRDK Liberty Broadband-C | Reduce -51.2% | 2.39% | −2.37 |
| TIGO Millicom Intl Cellular S.A. | Reduce -22.8% | 9.62% | −1.83 |
| FRPH FRP Holdings Inc. | Reduce -36.7% | 1.37% | −1.23 |
| GOOG Alphabet Inc. Class C | Reduce -53.5% | 0.91% | −1.04 |
| DBRG Digitalbridge Group Inc. | Reduce -37.3% | 1.39% | −0.73 |
| IMXI International Money Express | Reduce -17.1% | 0.84% | −0.58 |
| APP AppLovin Corp. Class A | Sold out | 0.00% | −0.48 |
| OPFI Oppfi Inc. | Reduce -14.2% | 4.64% | +0.65 |
Portfolio Buys Q1 2025 → Q2 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 33 | $146.6M | RELY, NIQ, LPRO, COF, AXP |
| Q1 2026 | 36 | $111.5M | RELY, COF, TIGO, AXP, SPT |
| Q4 2025 | 25 | $108.4M | RELY, COF, TIGO, AXP, LPRO |
| Q3 2025 | 29 | $155.8M | GOGO, WOW, RELY, TIGO, COF |
| Q2 2025 | 23 | $156.6M | GOGO, WOW, TIGO, COF, RELY |
| Q1 2025 | 22 | $139.0M | WOW, GOGO, TIGO, RELY, DFS |
| Q4 2024 | 21 | $133.4M | WOW, GOGO, TIGO, RELY, AXP |
| Q3 2024 | 22 | $115.1M | WOW, GOGO, TIGO, AXP, DFS |
| Q2 2024 | 25 | $120.1M | WOW, GOGO, TIGO, AXP, RELY |
| Q1 2024 | 21 | $97.2M | WOW, GOGO, TIGO, AXP, BABA |