Long Focus Capital Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Long Focus Capital Management, LLC reported 81 stock positions worth $1.5 billion. Its top holding was Ftai Aviation (FTAI) at 7.0% of the portfolio, followed by PayPal (PYPL, 6.0%) and Comcast Class A (CMCSA, 4.8%). Compared with Q1 2025, it opened 8 new positions, sold out of 13, added to 23 and reduced 16. The biggest buy was a new position in Alibaba Group Holding (baba 0.5 06/01/31) and the biggest sale an exit from Anheuser-Busch Inbev-SPN ADR (BUD).
- Most Recent 13F
- Q2 2026
- Location
- SAN JUAN, PR
- CIK
- 0001602716
- Portfolio Value
- $1.5B (Q2 2025)
- SEC Filing
- 0001602716-25-000004 ↗ filed Aug 14, 2025
Holdings Value
Holdings 81 stocks · $1.5B
| FTAI Ftai Aviation Ltd. | 6.98% | 940,000 | $108.1M | Add +19.0% |
| PYPL PayPal Holdings Inc. | 6.00% | 1,250,000 | $92.9M | No change |
| CMCSA Comcast Corp. Class A | 4.77% | 2,070,416 | $73.9M | No change |
| ET Energy Transfer LP | 3.91% | 3,342,400 | $60.6M | No change |
| CVS CVS Health Corp. | 3.77% | 847,329 | $58.4M | Reduce -18.5% |
| INSM Insmed Inc. | 3.38% | 520,200 | $52.4M | Reduce -17.5% |
| VSAT Viasat Inc. | 2.87% | 3,049,302 | $44.5M | Add +28.7% |
| AKRO Akero Therapeutics Inc. | 2.48% | 720,000 | $38.4M | Reduce -1.3% |
| HLF Herbalife Ltd. | 2.42% | 4,355,000 | $37.5M | Reduce -11.9% |
| FIP Ftai Infrastructure Inc. | 2.41% | 6,060,162 | $37.4M | Add +27.1% |
| PINS Pinterest Inc. Class A | 2.37% | 1,026,000 | $36.8M | Reduce -0.4% |
| LBRDA Liberty Broadband-A | 2.37% | 375,000 | $36.7M | No change |
| CZR Caesars Entertainment Inc. | 2.26% | 1,230,800 | $34.9M | Add +0.8% |
| AR Antero Resources Corp. | 2.24% | 859,818 | $34.6M | Reduce -19.1% |
| PENN Penn Entertainment Inc. | 2.17% | 1,880,000 | $33.6M | Add +6.8% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | 1.93% | 23,500,000 | $29.9M | New |
| AURA Aura Biosciences Inc. | 1.87% | 4,619,582 | $28.9M | Add +39.2% |
| WYNN WYNN Resorts Ltd. | 1.81% | 300,000 | $28.1M | No change |
| ONIT Onity Group Inc. | 1.67% | 677,088 | $25.8M | No change |
| CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP | 1.58% | 3,048,774 | $24.5M | Add +3.3% |
| AGO Assured Guaranty Ltd. | 1.57% | 280,000 | $24.4M | No change |
| HAPN Happen Inc. filed as LENDINGCLUB CORP | 1.56% | 2,010,725 | $24.2M | Reduce -1.2% |
| BLDR Builders Firstsource Inc. | 1.50% | 199,000 | $23.2M | New |
| BNTX Biontech SE-ADR | 1.43% | 207,903 | $22.1M | Add +30.8% |
| UAL United Airlines Holdings Inc. | 1.38% | 268,000 | $21.3M | No change |
| LILAK Liberty Latin Americ Class C | 1.32% | 3,295,336 | $20.5M | No change |
| IOVA Iovance Biotherapeutics Inc. | 1.31% | 11,820,000 | $20.3M | Add +27.8% |
| WBD Warner Bros Discovery Inc. | 1.30% | 1,760,000 | $20.2M | Add +16.6% |
| WOOF Petco Health and Wellness Co. | 1.23% | 6,741,784 | $19.1M | Add +59.1% |
| GLNG Golar LNG Ltd. | 1.18% | 445,000 | $18.3M | Add +14.1% |
| AMZN Amazon.com Inc. | 1.15% | 81,000 | $17.8M | Reduce -64.9% |
| BTU Peabody Energy Corp. | 1.13% | 1,309,858 | $17.6M | Reduce -26.8% |
| NFE New Fortress Energy Inc. | 1.10% | 5,150,000 | $17.1M | New |
| BABA Alibaba Group Holding-SP ADR | 1.06% | 145,000 | $16.4M | Reduce -21.6% |
| UNH Unitedhealth Group Inc. | 1.05% | 52,000 | $16.2M | New |
| JD Jd.com Inc.-ADR | 1.01% | 480,380 | $15.7M | Add +20.6% |
| CNC Centene Corp. | 1.00% | 285,440 | $15.5M | Reduce -26.5% |
| LBTYK Liberty Global Ltd. Class C | 0.99% | 1,494,400 | $15.4M | No change |
| PZZA Papa John's Intl Inc. | 0.98% | 310,622 | $15.2M | No change |
| GSAT Globalstar Inc. | 0.98% | 645,000 | $15.2M | Add +74.3% |
| CTRN Citi Trends Inc. | 0.95% | 440,000 | $14.7M | Reduce -15.6% |
| OMF Onemain Holdings Inc. | 0.94% | 255,000 | $14.5M | No change |
| ARHS Arhaus Inc. | 0.85% | 1,520,800 | $13.2M | No change |
| SGHT Sight Sciences Inc. | 0.84% | 3,151,508 | $13.0M | Add +0.8% |
| LAB Standard Biotools Inc. | 0.78% | 10,070,000 | $12.1M | Add +50.3% |
| OVV Ovintiv Inc. | 0.76% | 310,000 | $11.8M | New |
| AM Antero Midstream Corp. | 0.75% | 610,000 | $11.6M | No change |
| TAL Tal Education Group- ADR | 0.74% | 1,117,300 | $11.4M | Add +78.1% |
| OPRT Oportun Financial Corp. | 0.70% | 1,515,777 | $10.9M | No change |
| NXST Nexstar Media Group Inc. | 0.68% | 60,500 | $10.5M | Reduce -14.2% |
| HHH Howard Hughes Holdings Inc. | 0.63% | 144,000 | $9.7M | New |
| BCYC Bicycle Therapeutics PLC-ADR | 0.59% | 1,317,293 | $9.2M | Add +1.8% |
| C Citigroup Inc. | 0.55% | 99,640 | $8.5M | Add +5.3% |
| PCT Purecycle Technologies Inc. | 0.53% | 603,781 | $8.3M | No change |
| VLRS Controladora Vuela Cia-ADR | 0.53% | 1,715,205 | $8.1M | Add +25.6% |
| TE T1 Energy Inc. | 0.49% | 6,120,000 | $7.5M | No change |
| PAGS Pagseguro Digital Ltd. Class A | 0.47% | 760,000 | $7.3M | Reduce -20.4% |
| CLLS Cellectis - ADR | 0.46% | 4,717,293 | $7.1M | No change |
| APG Api Group Corp. | 0.44% | 132,893 | $6.8M | Add +3.9% |
| DAL Delta Air Lines Inc. | 0.38% | 120,000 | $5.9M | New |
| ADAPY Adaptimmune Therapeutics-ADR | 0.37% | 23,756,687 | $5.7M | No change |
| LVS Las Vegas Sands Corp. | 0.35% | 123,000 | $5.4M | Reduce -59.4% |
| CLVT Clarivate PLC | 0.33% | 1,175,000 | $5.1M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.28% | 93,000 | $4.4M | No change |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.27% | 377,600 | $4.1M | No change |
| BIOX Bioceres Crop Solutions Corp. | 0.24% | 829,748 | $3.7M | No change |
| MGTX Meiragtx Holdings PLC | 0.22% | 524,745 | $3.4M | Add +110.1% |
| TLYS Tilly's Inc. Class A SHRS | 0.19% | 2,181,931 | $3.0M | No change |
| NESR National Energy Services Reu | 0.19% | 497,921 | $3.0M | No change |
| CEPU Central Puerto-Sponsored ADR | 0.18% | 232,696 | $2.7M | No change |
| APO Apollo Global Management Inc. | 0.17% | 18,750 | $2.7M | Add +36.4% |
| AIOT Powerfleet Inc. | 0.09% | 337,504 | $1.5M | New |
| ETSY Etsy Inc. | 0.09% | 29,000 | $1.5M | Reduce -90.0% |
| PAR Par Technology Corp. | 0.09% | 20,357 | $1.4M | No change |
| SUPV Grupo Supervielle SA-SP ADR | 0.09% | 125,672 | $1.3M | No change |
| JILL J. Jill Inc. | 0.07% | 76,320 | $1.1M | No change |
| GOOGL Alphabet Inc. Class A | 0.07% | 5,980 | $1.1M | No change |
| XPL Solitario Resources Corp. | 0.06% | 1,409,700 | $916K | No change |
| ACHV Achieve Life Sciences Inc. | 0.04% | 248,099 | $561K | No change |
| DXLG Destination XL Group Inc. | 0.04% | 498,042 | $553K | No change |
| SFST Southern First Bancshares | 0.02% | 7,964 | $303K | No change |
Options reported separately and not counted above: CMCSA calls ($349.5M), B calls ($299.5M), GM calls ($84.1M), CHTR calls ($83.8M), CVS calls ($75.2M), INTC calls ($68.3M), BUD calls ($54.7M), C calls ($30.6M), BABA calls ($25.5M), CZR calls ($10.0M), PFE calls ($8.7M), ET calls ($5.4M).
Portfolio Sells Q1 2025 → Q2 2025
| BUD Anheuser-Busch Inbev-SPN ADR | Sold out | 0.00% | −2.43 |
| ASML ASML Holding NV-NY Reg SHS | Sold out | 0.00% | −2.15 |
| AMZN Amazon.com Inc. | Reduce -64.9% | 1.15% | −1.84 |
| CVS CVS Health Corp. | Reduce -18.5% | 3.77% | −1.01 |
| ETSY Etsy Inc. | Reduce -90.0% | 0.09% | −0.84 |
| AR Antero Resources Corp. | Reduce -19.1% | 2.24% | −0.68 |
| AZUL S A | Sold out | 0.00% | −0.66 |
| CNC Centene Corp. | Reduce -26.5% | 1.00% | −0.60 |
| FSLR First Solar Inc. | Sold out | 0.00% | −0.60 |
| BABA Alibaba Group Holding-SP ADR | Reduce -21.6% | 1.06% | −0.60 |
| ECHO Echostar Corp. Class A | Sold out | 0.00% | −0.54 |
| BTU Peabody Energy Corp. | Reduce -26.8% | 1.13% | −0.51 |
| HLF Herbalife Ltd. | Reduce -11.9% | 2.42% | −0.47 |
| AL Sumisho Air Lease Corp. | Sold out | 0.00% | −0.47 |
| SNREY Sunrise Communicat Class A | Sold out | 0.00% | −0.45 |
| LVS Las Vegas Sands Corp. | Reduce -59.4% | 0.35% | −0.45 |
| NXST Nexstar Media Group Inc. | Reduce -14.2% | 0.68% | −0.18 |
| MTG Mgic Investment Corp. | Sold out | 0.00% | −0.16 |
| CMP Compass Minerals Internation | Sold out | 0.00% | −0.14 |
| ARCO Arcos Dorados Holdings Inc. Class A | Sold out | 0.00% | −0.08 |
| EXE Expand Energy Corp. | Sold out | 0.00% | −0.08 |
| GTLS Chart Industries Inc. | Sold out | 0.00% | −0.04 |
| PAGS Pagseguro Digital Ltd. Class A | Reduce -20.4% | 0.47% | −0.02 |
| GPRO Gopro Inc. Class A | Sold out | 0.00% | −0.01 |
| INSM Insmed Inc. | Reduce -17.5% | 3.38% | +0.11 |
| HAPN Happen Inc. | Reduce -1.2% | 1.56% | +0.13 |
| CTRN Citi Trends Inc. | Reduce -15.6% | 0.95% | +0.16 |
| PINS Pinterest Inc. Class A | Reduce -0.4% | 2.37% | +0.20 |
| AKRO Akero Therapeutics Inc. | Reduce -1.3% | 2.48% | +0.47 |
Portfolio Buys Q1 2025 → Q2 2025
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | New | 1.93% | +1.93 |
| BLDR Builders Firstsource Inc. | New | 1.50% | +1.50 |
| VSAT Viasat Inc. | Add +28.7% | 2.87% | +1.20 |
| NFE New Fortress Energy Inc. | New | 1.10% | +1.10 |
| UNH Unitedhealth Group Inc. | New | 1.05% | +1.05 |
| FTAI Ftai Aviation Ltd. | Add +19.0% | 6.98% | +1.02 |
| FIP Ftai Infrastructure Inc. | Add +27.1% | 2.41% | +0.95 |
| OVV Ovintiv Inc. | New | 0.76% | +0.76 |
| HHH Howard Hughes Holdings Inc. | New | 0.63% | +0.63 |
| AURA Aura Biosciences Inc. | Add +39.2% | 1.87% | +0.55 |
| GSAT Globalstar Inc. | Add +74.3% | 0.98% | +0.46 |
| BNTX Biontech SE-ADR | Add +30.8% | 1.43% | +0.45 |
| DAL Delta Air Lines Inc. | New | 0.38% | +0.38 |
| WOOF Petco Health and Wellness Co. | Add +59.1% | 1.23% | +0.35 |
| SGHT Sight Sciences Inc. | Add +0.8% | 0.84% | +0.33 |
| LAB Standard Biotools Inc. | Add +50.3% | 0.78% | +0.29 |
| CALY Callaway Golf Company | Add +3.3% | 1.58% | +0.26 |
| PENN Penn Entertainment Inc. | Add +6.8% | 2.17% | +0.22 |
| WBD Warner Bros Discovery Inc. | Add +16.6% | 1.30% | +0.20 |
| CZR Caesars Entertainment Inc. | Add +0.8% | 2.26% | +0.18 |
| GLNG Golar LNG Ltd. | Add +14.1% | 1.18% | +0.18 |
| TAL Tal Education Group- ADR | Add +78.1% | 0.74% | +0.17 |
| APG Api Group Corp. | Add +3.9% | 0.44% | +0.13 |
| MGTX Meiragtx Holdings PLC | Add +110.1% | 0.22% | +0.11 |
| AIOT Powerfleet Inc. | New | 0.09% | +0.09 |
| C Citigroup Inc. | Add +5.3% | 0.55% | +0.09 |
| APO Apollo Global Management Inc. | Add +36.4% | 0.17% | +0.04 |
| VLRS Controladora Vuela Cia-ADR | Add +25.6% | 0.53% | +0.04 |
| JD Jd.com Inc.-ADR | Add +20.6% | 1.01% | −0.10 |
| BCYC Bicycle Therapeutics PLC-ADR | Add +1.8% | 0.59% | −0.16 |
| IOVA Iovance Biotherapeutics Inc. | Add +27.8% | 1.31% | −0.78 |
Options Activity Q1 2025 → Q2 2025
| RSP Invesco S&P 500 Equal Weight | call | Sold out | 3,025,000 | $524.0Mbefore exit |
| CMCSA Comcast Corp. Class A | call | Add +39.6% | 9,792,100 | $349.5M |
| B Barrick Mining Corp. | call | Add +23.8% | 14,383,400 | $299.5M |
| GM General Motors Co. | call | Add +35.7% | 1,710,000 | $84.1M |
| CHTR Charter Communications Inc. Class A | call | Add +15.8% | 205,000 | $83.8M |
| CVS CVS Health Corp. | call | Reduce -22.1% | 1,090,500 | $75.2M |
| INTC Intel Corp. | call | Add +3.4% | 3,050,000 | $68.3M |
| BUD Anheuser-Busch Inbev-SPN ADR | call | Reduce -68.5% | 795,600 | $54.7M |
| C Citigroup Inc. | call | Reduce -14.3% | 360,000 | $30.6M |
| CZR Caesars Entertainment Inc. | call | Add +134.1% | 351,100 | $10.0M |
| PFE Pfizer Inc. | call | New | 363,300 | $8.7M |
| BA The Boeing Co. | call | Sold out | 35,000 | $6.0Mbefore exit |
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 | 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 |