Long Focus Capital Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Long Focus Capital Management, LLC reported 86 stock positions worth $1.5 billion. Its top holding was Ftai Aviation (FTAI) at 6.0% of the portfolio, followed by PayPal (PYPL, 5.5%) and Comcast Class A (CMCSA, 5.2%). Compared with Q4 2024, it opened 8 new positions, sold out of 9, added to 38 and reduced 17. The biggest buy was a new position in Amazon.com (AMZN) and the biggest sale Alibaba Group Holding-SP ADR (BABA, shares −76%).
- Most Recent 13F
- Q2 2026
- Location
- SAN JUAN, PR
- CIK
- 0001602716
- Portfolio Value
- $1.5B (Q1 2025)
- SEC Filing
- 0001344676-25-000022 ↗ filed May 15, 2025
Holdings Value
Holdings 86 stocks · $1.5B
| FTAI Ftai Aviation Ltd. | 5.96% | 790,000 | $87.7M | Add +64.6% |
| PYPL PayPal Holdings Inc. | 5.54% | 1,250,000 | $81.6M | Add +60.3% |
| CMCSA Comcast Corp. Class A | 5.19% | 2,070,416 | $76.4M | Add +9.1% |
| CVS CVS Health Corp. | 4.79% | 1,040,000 | $70.5M | Reduce -8.9% |
| ET Energy Transfer LP | 4.22% | 3,342,400 | $62.1M | No change |
| INSM Insmed Inc. | 3.27% | 630,800 | $48.1M | Reduce -3.1% |
| AMZN Amazon.com Inc. | 2.99% | 231,000 | $44.0M | New |
| AR Antero Resources Corp. | 2.92% | 1,063,000 | $43.0M | Reduce -21.4% |
| HLF Herbalife Ltd. | 2.90% | 4,943,000 | $42.7M | Add +3.9% |
| BUD Anheuser-Busch Inbev-SPN ADR | 2.43% | 580,000 | $35.7M | Add +79.4% |
| PINS Pinterest Inc. Class A | 2.17% | 1,030,483 | $31.9M | Add +13.6% |
| LBRDA Liberty Broadband-A | 2.17% | 375,000 | $31.9M | Add +16.5% |
| ASML ASML Holding NV-NY Reg SHS | 2.15% | 47,800 | $31.7M | Reduce -4.0% |
| IOVA Iovance Biotherapeutics Inc. | 2.09% | 9,250,055 | $30.8M | Add +80.2% |
| CZR Caesars Entertainment Inc. | 2.07% | 1,220,800 | $30.5M | Add +42.4% |
| AKRO Akero Therapeutics Inc. | 2.01% | 729,504 | $29.5M | Add +1.4% |
| PENN Penn Entertainment Inc. | 1.95% | 1,760,200 | $28.7M | Add +13.9% |
| WYNN WYNN Resorts Ltd. | 1.70% | 300,000 | $25.1M | Add +84.0% |
| VSAT Viasat Inc. | 1.68% | 2,370,000 | $24.7M | New |
| AGO Assured Guaranty Ltd. | 1.68% | 280,000 | $24.7M | Add +1.8% |
| BABA Alibaba Group Holding-SP ADR | 1.66% | 185,000 | $24.5M | Reduce -75.6% |
| BTU Peabody Energy Corp. | 1.65% | 1,789,858 | $24.3M | Add +96.7% |
| CNC Centene Corp. | 1.60% | 388,385 | $23.6M | Add +180.7% |
| ONIT Onity Group Inc. | 1.49% | 677,088 | $21.9M | Add +3.8% |
| FIP Ftai Infrastructure Inc. | 1.47% | 4,766,162 | $21.6M | Add +820.7% |
| HAPN Happen Inc. filed as LENDINGCLUB CORP | 1.43% | 2,034,725 | $21.0M | Add +26.4% |
| LILAK Liberty Latin Americ Class C | 1.39% | 3,295,336 | $20.5M | Add +8.6% |
| AURA Aura Biosciences Inc. | 1.32% | 3,319,582 | $19.5M | Add +30.8% |
| CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP | 1.32% | 2,950,844 | $19.4M | Add +44.8% |
| UAL United Airlines Holdings Inc. | 1.26% | 268,000 | $18.5M | New |
| LBTYK Liberty Global Ltd. Class C | 1.22% | 1,494,400 | $17.9M | Add +3.6% |
| JD Jd.com Inc.-ADR | 1.11% | 398,380 | $16.4M | Add +39.2% |
| WBD Warner Bros Discovery Inc. | 1.10% | 1,509,000 | $16.2M | No change |
| GLNG Golar LNG Ltd. | 1.01% | 390,000 | $14.8M | Add +680.0% |
| BNTX Biontech SE-ADR | 0.98% | 159,000 | $14.5M | New |
| ETSY Etsy Inc. | 0.93% | 290,100 | $13.7M | Add +3.6% |
| ARHS Arhaus Inc. | 0.90% | 1,520,800 | $13.2M | Add +35.2% |
| WOOF Petco Health and Wellness Co. | 0.88% | 4,237,121 | $12.9M | New |
| PZZA Papa John's Intl Inc. | 0.87% | 310,622 | $12.8M | Add +72.6% |
| NXST Nexstar Media Group Inc. | 0.86% | 70,500 | $12.6M | Reduce -45.6% |
| OMF Onemain Holdings Inc. | 0.85% | 255,000 | $12.5M | Reduce -3.8% |
| LVS Las Vegas Sands Corp. | 0.80% | 303,000 | $11.7M | Add +13.1% |
| CTRN Citi Trends Inc. | 0.78% | 521,455 | $11.5M | Reduce -6.3% |
| BCYC Bicycle Therapeutics PLC-ADR | 0.75% | 1,293,753 | $11.0M | Add +138.2% |
| AM Antero Midstream Corp. | 0.75% | 610,000 | $11.0M | No change |
| AZUL S A | 0.66% | 5,932,943 | $9.7M | No change |
| FSLR First Solar Inc. | 0.60% | 70,000 | $8.9M | New |
| OPRT Oportun Financial Corp. | 0.57% | 1,515,777 | $8.3M | Reduce -12.9% |
| TAL Tal Education Group- ADR | 0.56% | 627,300 | $8.3M | Add +5.4% |
| ECHO Echostar Corp. Class A | 0.54% | 310,000 | $7.9M | Reduce -50.7% |
| GSAT Globalstar Inc. | 0.52% | 370,000 | $7.7M | New |
| TE T1 Energy Inc. | 0.52% | 6,120,000 | $7.7M | Add +8.3% |
| SGHT Sight Sciences Inc. | 0.51% | 3,126,508 | $7.5M | Add +39.7% |
| PAGS Pagseguro Digital Ltd. Class A | 0.49% | 955,000 | $7.3M | No change |
| LAB Standard Biotools Inc. | 0.49% | 6,700,000 | $7.2M | New |
| VLRS Controladora Vuela Cia-ADR | 0.48% | 1,365,205 | $7.1M | Reduce -4.3% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 0.47% | 142,707 | $6.9M | Reduce -12.3% |
| C Citigroup Inc. | 0.46% | 94,640 | $6.7M | No change |
| SNREY Sunrise Communicat Class A | 0.45% | 138,399 | $6.7M | Reduce -39.4% |
| CLLS Cellectis - ADR | 0.40% | 4,717,293 | $5.8M | Add +2.2% |
| TLYS Tilly's Inc. Class A SHRS | 0.33% | 2,181,931 | $4.8M | No change |
| ADAPY Adaptimmune Therapeutics-ADR | 0.32% | 23,756,687 | $4.7M | Add +15.9% |
| CLVT Clarivate PLC | 0.31% | 1,175,000 | $4.6M | No change |
| APG Api Group Corp. | 0.31% | 127,893 | $4.6M | No change |
| PCT Purecycle Technologies Inc. | 0.28% | 603,781 | $4.2M | No change |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.28% | 377,600 | $4.1M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.26% | 93,000 | $3.9M | No change |
| BIOX Bioceres Crop Solutions Corp. | 0.26% | 829,748 | $3.8M | Add +11.4% |
| NESR National Energy Services Reu | 0.25% | 497,921 | $3.7M | No change |
| CEPU Central Puerto-Sponsored ADR | 0.18% | 232,696 | $2.6M | Reduce -14.7% |
| MTG Mgic Investment Corp. | 0.16% | 95,000 | $2.4M | No change |
| CMP Compass Minerals Internation | 0.14% | 222,370 | $2.1M | Add +48.3% |
| APO Apollo Global Management Inc. | 0.13% | 13,750 | $1.9M | No change |
| MGTX Meiragtx Holdings PLC | 0.12% | 249,745 | $1.7M | Add +31.6% |
| SUPV Grupo Supervielle SA-SP ADR | 0.11% | 125,672 | $1.6M | Reduce -26.4% |
| JILL J. Jill Inc. | 0.10% | 76,320 | $1.5M | No change |
| PAR Par Technology Corp. | 0.08% | 20,357 | $1.2M | No change |
| ARCO Arcos Dorados Holdings Inc. Class A | 0.08% | 150,000 | $1.2M | No change |
| EXE Expand Energy Corp. | 0.08% | 10,300 | $1.1M | Reduce -89.7% |
| GOOGL Alphabet Inc. Class A | 0.06% | 5,980 | $925K | No change |
| XPL Solitario Resources Corp. | 0.06% | 1,409,700 | $846K | No change |
| DXLG Destination XL Group Inc. | 0.05% | 498,042 | $727K | Add +13.7% |
| ACHV Achieve Life Sciences Inc. | 0.04% | 248,099 | $662K | No change |
| GTLS Chart Industries Inc. | 0.04% | 3,726 | $538K | Reduce -93.2% |
| SFST Southern First Bancshares | 0.02% | 7,964 | $262K | No change |
| GPRO Gopro Inc. Class A | 0.01% | 280,700 | $186K | No change |
Options reported separately and not counted above: RSP calls ($524.0M), CMCSA calls ($258.8M), B calls ($225.8M), BUD calls ($155.5M), CVS calls ($94.9M), INTC calls ($67.0M), CHTR calls ($65.2M), GM calls ($59.3M), C calls ($29.8M), BABA calls ($29.8M), BA calls ($6.0M), ET calls ($5.6M), and 1 more.
Portfolio Sells Q4 2024 → Q1 2025
| BABA Alibaba Group Holding-SP ADR | Reduce -75.6% | 1.66% | −3.25 |
| QMCO Quantum Corp. | Sold out | 0.00% | −1.97 |
| GTLS Chart Industries Inc. | Reduce -93.2% | 0.04% | −0.77 |
| AR Antero Resources Corp. | Reduce -21.4% | 2.92% | −0.71 |
| NXST Nexstar Media Group Inc. | Reduce -45.6% | 0.86% | −0.71 |
| EXE Expand Energy Corp. | Reduce -89.7% | 0.08% | −0.69 |
| ECHO Echostar Corp. Class A | Reduce -50.7% | 0.54% | −0.56 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -4.0% | 2.15% | −0.49 |
| CI The Cigna Group | Sold out | 0.00% | −0.37 |
| CTRN Citi Trends Inc. | Reduce -6.3% | 0.78% | −0.33 |
| VLRS Controladora Vuela Cia-ADR | Reduce -4.3% | 0.48% | −0.33 |
| SNREY Sunrise Communicat Class A | Reduce -39.4% | 0.45% | −0.30 |
| COOP Mr Cooper Group Inc. | Sold out | 0.00% | −0.22 |
| OMF Onemain Holdings Inc. | Reduce -3.8% | 0.85% | −0.21 |
| AMPS Altus Power Inc. | Sold out | 0.00% | −0.17 |
| INSM Insmed Inc. | Reduce -3.1% | 3.27% | −0.17 |
| AL Sumisho Air Lease Corp. | Reduce -12.3% | 0.47% | −0.13 |
| CEPU Central Puerto-Sponsored ADR | Reduce -14.7% | 0.18% | −0.13 |
| SUPV Grupo Supervielle SA-SP ADR | Reduce -26.4% | 0.11% | −0.09 |
| WFC Wells Fargo & Co. | Sold out | 0.00% | −0.07 |
| ANIX Anixa Biosciences Inc. | Sold out | 0.00% | −0.03 |
| HYZN Hyzon Motors Inc. | Sold out | 0.00% | −0.02 |
| NXTC Nextcure Inc. | Sold out | 0.00% | −0.01 |
| IRIX Iridex Corp. | Sold out | 0.00% | −0.00 |
| OPRT Oportun Financial Corp. | Reduce -12.9% | 0.57% | +0.05 |
| CVS CVS Health Corp. | Reduce -8.9% | 4.79% | +0.87 |
Portfolio Buys Q4 2024 → Q1 2025
| AMZN Amazon.com Inc. | New | 2.99% | +2.99 |
| VSAT Viasat Inc. | New | 1.68% | +1.68 |
| UAL United Airlines Holdings Inc. | New | 1.26% | +1.26 |
| BUD Anheuser-Busch Inbev-SPN ADR | Add +79.4% | 2.43% | +1.19 |
| FIP Ftai Infrastructure Inc. | Add +820.7% | 1.47% | +1.18 |
| BNTX Biontech SE-ADR | New | 0.98% | +0.98 |
| CNC Centene Corp. | Add +180.7% | 1.60% | +0.96 |
| WOOF Petco Health and Wellness Co. | New | 0.88% | +0.88 |
| GLNG Golar LNG Ltd. | Add +680.0% | 1.01% | +0.84 |
| FTAI Ftai Aviation Ltd. | Add +64.6% | 5.96% | +0.67 |
| WYNN WYNN Resorts Ltd. | Add +84.0% | 1.70% | +0.63 |
| FSLR First Solar Inc. | New | 0.60% | +0.60 |
| GSAT Globalstar Inc. | New | 0.52% | +0.52 |
| LAB Standard Biotools Inc. | New | 0.49% | +0.49 |
| AKRO Akero Therapeutics Inc. | Add +1.4% | 2.01% | +0.47 |
| HLF Herbalife Ltd. | Add +3.9% | 2.90% | +0.46 |
| PYPL PayPal Holdings Inc. | Add +60.3% | 5.54% | +0.45 |
| JD Jd.com Inc.-ADR | Add +39.2% | 1.11% | +0.35 |
| LBRDA Liberty Broadband-A | Add +16.5% | 2.17% | +0.33 |
| PZZA Papa John's Intl Inc. | Add +72.6% | 0.87% | +0.30 |
| BTU Peabody Energy Corp. | Add +96.7% | 1.65% | +0.19 |
| BCYC Bicycle Therapeutics PLC-ADR | Add +138.2% | 0.75% | +0.16 |
| PINS Pinterest Inc. Class A | Add +13.6% | 2.17% | +0.16 |
| TAL Tal Education Group- ADR | Add +5.4% | 0.56% | +0.11 |
| CALY Callaway Golf Company | Add +44.8% | 1.32% | +0.09 |
| ARHS Arhaus Inc. | Add +35.2% | 0.90% | +0.09 |
| MGTX Meiragtx Holdings PLC | Add +31.6% | 0.12% | +0.03 |
| CMP Compass Minerals Internation | Add +48.3% | 0.14% | +0.01 |
| DXLG Destination XL Group Inc. | Add +13.7% | 0.05% | −0.04 |
| ONIT Onity Group Inc. | Add +3.8% | 1.49% | −0.05 |
| LILAK Liberty Latin Americ Class C | Add +8.6% | 1.39% | −0.08 |
| BIOX Bioceres Crop Solutions Corp. | Add +11.4% | 0.26% | −0.09 |
| SGHT Sight Sciences Inc. | Add +39.7% | 0.51% | −0.11 |
| CZR Caesars Entertainment Inc. | Add +42.4% | 2.07% | −0.12 |
| ETSY Etsy Inc. | Add +3.6% | 0.93% | −0.20 |
| AGO Assured Guaranty Ltd. | Add +1.8% | 1.68% | −0.22 |
| LBTYK Liberty Global Ltd. Class C | Add +3.6% | 1.22% | −0.24 |
| CLLS Cellectis - ADR | Add +2.2% | 0.40% | −0.24 |
| LVS Las Vegas Sands Corp. | Add +13.1% | 0.80% | −0.26 |
| CMCSA Comcast Corp. Class A | Add +9.1% | 5.19% | −0.26 |
| AURA Aura Biosciences Inc. | Add +30.8% | 1.32% | −0.28 |
| PENN Penn Entertainment Inc. | Add +13.9% | 1.95% | −0.39 |
| ADAPY Adaptimmune Therapeutics-ADR | Add +15.9% | 0.32% | −0.53 |
| HAPN Happen Inc. | Add +26.4% | 1.43% | −0.57 |
| TE T1 Energy Inc. | Add +8.3% | 0.52% | −0.59 |
| IOVA Iovance Biotherapeutics Inc. | Add +80.2% | 2.09% | −0.81 |
Options Activity Q4 2024 → Q1 2025
| RSP Invesco S&P 500 Equal Weight | call | New | 3,025,000 | $524.0M |
| CMCSA Comcast Corp. Class A | call | Reduce -32.0% | 7,013,300 | $258.8M |
| B Barrick Gold Corp. | call | Reduce -41.1% | 11,614,800 | $225.8M |
| BUD Anheuser-Busch Inbev-SPN ADR | call | Reduce -64.8% | 2,525,600 | $155.5M |
| BNTX Biontech SE-ADR | call | Sold out | 910,000 | $103.7Mbefore exit |
| CVS CVS Health Corp. | call | Reduce -19.2% | 1,400,500 | $94.9M |
| INTC Intel Corp. | call | Reduce -75.2% | 2,950,000 | $67.0M |
| CHTR Charter Communications Inc. Class A | call | Add +90.3% | 177,000 | $65.2M |
| GM General Motors Co. | call | New | 1,260,000 | $59.3M |
| C Citigroup Inc. | call | Reduce -59.2% | 420,000 | $29.8M |
| BABA Alibaba Group Holding-SP ADR | call | Reduce -88.0% | 225,000 | $29.8M |
| PFE Pfizer Inc. | call | Sold out | 363,300 | $9.6Mbefore exit |
| BA The Boeing Co. | call | Reduce -46.1% | 35,000 | $6.0M |
| ET Energy Transfer LP | call | Reduce -63.5% | 300,000 | $5.6M |
| CZR Caesars Entertainment Inc. | call | New | 150,000 | $3.8M |
| BAC Bank of America Corp. | call | Sold out | 50,000 | $2.2Mbefore exit |
| BCS Barclays PLC-Spons ADR | call | Sold out | 121,500 | $1.6Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| HYZON MOTORS INC | *W EXP 10/02/202 | Sold out | 600,700 | $3Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 76 | $2.4B | CHTR, AMZN, MOH, CNC, CMCSA |
| Q1 2026 | 84 | $2.2B | AMZN, CHTR, MOH, FTAI, CZR |
| Q4 2025 | 77 | $2.0B | FTAI, PYPL, CHTR, CNC, MOH |
| Q3 2025 | 79 | $1.8B | FTAI, CHTR, CNC, PYPL, CVS |
| Q2 2025 | 81 | $1.5B | FTAI, PYPL, CMCSA, ET, CVS |
| Q1 2025 | 86 | $1.5B | FTAI, PYPL, CMCSA, CVS, ET |
| Q4 2024 | 87 | $1.3B | CMCSA, FTAI, PYPL, ET, BABA |
| Q3 2024Amended | 88 | $1.1B | FTAI, BABA, PYPL, ET, CMCSA |
| Q2 2024 | 89 | $966.8M | FTAI, ET, AR, INSM, BABA |
| Q1 2024 | 87 | $865.7M | FTAI, AR, ET, BABA, CMCSA |