Long Focus Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Long Focus Capital Management, LLC reported 79 stock positions worth $1.8 billion. Its top holding was Ftai Aviation (FTAI) at 5.9% of the portfolio, followed by Charter Communications Class A (CHTR, 4.9%) and Centene (CNC, 4.7%). Compared with Q2 2025, it opened 9 new positions, sold out of 12, added to 14 and reduced 26. The biggest buy was a new position in Charter Communications Class A (CHTR) and the biggest sale PayPal (PYPL, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- SAN JUAN, PR
- CIK
- 0001602716
- Portfolio Value
- $1.8B (Q3 2025)
- SEC Filing
- 0001602716-25-000006 ↗ filed Nov 14, 2025
Holdings Value
Holdings 79 stocks · $1.8B
| FTAI Ftai Aviation Ltd. | 5.86% | 614,953 | $102.6M | Reduce -34.6% |
| CHTR Charter Communications Inc. Class A | 4.93% | 313,540 | $86.3M | New |
| CNC Centene Corp. | 4.69% | 2,299,000 | $82.0M | Add +705.4% |
| PYPL PayPal Holdings Inc. | 4.57% | 1,192,040 | $79.9M | Reduce -4.6% |
| CVS CVS Health Corp. | 3.89% | 904,000 | $68.2M | Add +6.7% |
| CMCSA Comcast Corp. Class A | 3.72% | 2,070,416 | $65.1M | No change |
| ET Energy Transfer LP | 3.28% | 3,342,400 | $57.4M | No change |
| MOH Molina Healthcare Inc. | 2.81% | 257,465 | $49.3M | New |
| INSM Insmed Inc. | 2.78% | 338,000 | $48.7M | Reduce -35.0% |
| UNH Unitedhealth Group Inc. | 2.75% | 139,200 | $48.1M | Add +167.7% |
| AR Antero Resources Corp. | 2.51% | 1,309,000 | $43.9M | Add +52.2% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | 2.47% | 235,000 | $43.2M | Reduce -99.0% |
| CZR Caesars Entertainment Inc. | 2.42% | 1,568,000 | $42.4M | Add +27.4% |
| VSAT Viasat Inc. | 2.24% | 1,339,327 | $39.2M | Reduce -56.1% |
| BNTX Biontech SE-ADR | 2.24% | 397,655 | $39.2M | Add +91.3% |
| PENN Penn Entertainment Inc. | 2.07% | 1,880,000 | $36.2M | No change |
| PAR Par Technology Corp. | 1.98% | 877,575 | $34.7M | Add +4210.9% |
| HUM Humana Inc. | 1.95% | 131,500 | $34.2M | New |
| AKRO Akero Therapeutics Inc. | 1.95% | 720,000 | $34.2M | No change |
| PINS Pinterest Inc. Class A | 1.89% | 1,026,000 | $33.0M | No change |
| HLF Herbalife Ltd. | 1.69% | 3,500,000 | $29.5M | Reduce -19.6% |
| AURA Aura Biosciences Inc. | 1.63% | 4,619,582 | $28.5M | No change |
| ELV Elevance Health Inc. | 1.61% | 87,000 | $28.1M | New |
| AGO Assured Guaranty Ltd. | 1.55% | 320,000 | $27.1M | Add +14.3% |
| ONIT Onity Group Inc. | 1.53% | 672,088 | $26.9M | Reduce -0.7% |
| GLNG Golar LNG Ltd. | 1.47% | 637,351 | $25.8M | Add +43.2% |
| FIP Ftai Infrastructure Inc. | 1.42% | 5,685,000 | $24.8M | Reduce -6.2% |
| WOOF Petco Health and Wellness Co. | 1.41% | 6,400,000 | $24.8M | Reduce -5.1% |
| TIC Tic Solutions Inc. filed as ACUREN CORP | 1.39% | 1,824,000 | $24.3M | New |
| LBRDA Liberty Broadband-A | 1.36% | 375,000 | $23.7M | No change |
| JD Jd.com Inc.-ADR | 1.31% | 655,380 | $22.9M | Add +36.4% |
| BIDU Baidu Inc. - Spon ADR | 1.20% | 159,800 | $21.1M | New |
| IOVA Iovance Biotherapeutics Inc. | 1.13% | 9,116,507 | $19.8M | Reduce -22.9% |
| HAPN Happen Inc. filed as LENDINGCLUB CORP | 1.04% | 1,200,000 | $18.2M | Reduce -40.3% |
| LBTYK Liberty Global Ltd. Class C | 1.00% | 1,494,400 | $17.6M | No change |
| LILAK Liberty Latin Americ Class C | 0.96% | 1,995,201 | $16.8M | Reduce -39.5% |
| NFE New Fortress Energy Inc. | 0.93% | 7,400,000 | $16.4M | Add +43.7% |
| UAL United Airlines Holdings Inc. | 0.88% | 159,000 | $15.3M | Reduce -40.7% |
| PZZA Papa John's Intl Inc. | 0.85% | 310,622 | $15.0M | No change |
| LAB Standard Biotools Inc. | 0.84% | 11,362,804 | $14.8M | Add +12.8% |
| ARHS Arhaus Inc. | 0.78% | 1,290,000 | $13.7M | Reduce -15.2% |
| OVV Ovintiv Inc. | 0.72% | 310,000 | $12.5M | No change |
| TAL Tal Education Group- ADR | 0.71% | 1,117,300 | $12.5M | No change |
| VLRS Controladora Vuela Cia-ADR | 0.70% | 1,715,205 | $12.3M | No change |
| AM Antero Midstream Corp. | 0.68% | 610,000 | $11.9M | No change |
| HHH Howard Hughes Holdings Inc. | 0.68% | 144,000 | $11.8M | No change |
| CLLS Cellectis - ADR | 0.67% | 4,123,262 | $11.8M | Reduce -12.6% |
| WYNN WYNN Resorts Ltd. | 0.66% | 90,000 | $11.5M | Reduce -70.0% |
| SGHT Sight Sciences Inc. | 0.63% | 3,193,305 | $11.0M | Add +1.3% |
| BCYC Bicycle Therapeutics PLC-ADR | 0.63% | 1,418,695 | $11.0M | Add +7.7% |
| C Citigroup Inc. | 0.58% | 99,640 | $10.1M | No change |
| BLDR Builders Firstsource Inc. | 0.55% | 80,000 | $9.7M | Reduce -59.8% |
| OPRT Oportun Financial Corp. | 0.53% | 1,515,777 | $9.4M | No change |
| PCT Purecycle Technologies Inc. | 0.44% | 589,413 | $7.8M | Reduce -2.4% |
| GSAT Globalstar Inc. | 0.43% | 207,000 | $7.5M | Reduce -67.9% |
| CTRN Citi Trends Inc. | 0.43% | 242,668 | $7.5M | Reduce -44.9% |
| TE T1 Energy Inc. | 0.43% | 3,445,000 | $7.5M | Reduce -43.7% |
| APG Api Group Corp. | 0.39% | 199,339 | $6.9M | No change |
| CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP | 0.31% | 569,771 | $5.4M | Reduce -81.3% |
| CLVT Clarivate PLC | 0.26% | 1,175,000 | $4.5M | No change |
| MGTX Meiragtx Holdings PLC | 0.25% | 524,745 | $4.3M | No change |
| PAGS Pagseguro Digital Ltd. Class A | 0.23% | 406,000 | $4.1M | Reduce -46.6% |
| EXE Expand Energy Corp. | 0.22% | 36,000 | $3.8M | New |
| NESR National Energy Services Reu | 0.21% | 350,000 | $3.6M | Reduce -29.7% |
| TLYS Tilly's Inc. Class A SHRS | 0.20% | 1,712,130 | $3.5M | Reduce -21.5% |
| LAD Lithia Motors Inc. | 0.20% | 11,149 | $3.5M | New |
| GLIBA Liberty Capital Corp. filed as GCI LIBERTY INC | 0.16% | 74,999 | $2.8M | No change |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.16% | 377,600 | $2.8M | No change |
| APO Apollo Global Management Inc. | 0.14% | 18,750 | $2.5M | No change |
| ADAPY Adaptimmune Therapeutics-ADR | 0.14% | 18,577,821 | $2.4M | Reduce -21.8% |
| WSC Willscot Holdings Corp. | 0.12% | 99,562 | $2.1M | New |
| CEPU Central Puerto-Sponsored ADR | 0.11% | 232,696 | $1.9M | No change |
| AIOT Powerfleet Inc. | 0.10% | 337,504 | $1.8M | No change |
| GOOGL Alphabet Inc. Class A | 0.08% | 5,980 | $1.5M | No change |
| JILL J. Jill Inc. | 0.07% | 76,320 | $1.3M | No change |
| BIOX Bioceres Crop Solutions Corp. | 0.07% | 829,748 | $1.2M | No change |
| XPL Solitario Resources Corp. | 0.06% | 1,409,700 | $984K | No change |
| DXLG Destination XL Group Inc. | 0.04% | 498,042 | $652K | No change |
| SUPV Grupo Supervielle SA-SP ADR | 0.04% | 125,672 | $622K | No change |
Options reported separately and not counted above: CMCSA calls ($528.8M), CHTR calls ($231.9M), CVS calls ($110.1M), B calls ($107.6M), BUD calls ($73.1M), GM calls ($58.5M), ET calls ($42.4M), BABA calls ($32.2M), CVX calls ($25.6M), BP calls ($20.7M), CZR calls ($13.5M), INTC calls ($9.4M), and 3 more.
Portfolio Sells Q2 2025 → Q3 2025
| PYPL PayPal Holdings Inc. | Reduce -4.6% | 4.57% | −1.43 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −1.30 |
| CALY Callaway Golf Company | Reduce -81.3% | 0.31% | −1.27 |
| WYNN WYNN Resorts Ltd. | Reduce -70.0% | 0.66% | −1.15 |
| AMZN Amazon.com Inc. | Sold out | 0.00% | −1.15 |
| BTU Peabody Energy Corp. | Sold out | 0.00% | −1.13 |
| FTAI Ftai Aviation Ltd. | Reduce -34.6% | 5.86% | −1.12 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −1.06 |
| FIP Ftai Infrastructure Inc. | Reduce -6.2% | 1.42% | −1.00 |
| BLDR Builders Firstsource Inc. | Reduce -59.8% | 0.55% | −0.94 |
| OMF Onemain Holdings Inc. | Sold out | 0.00% | −0.94 |
| HLF Herbalife Ltd. | Reduce -19.6% | 1.69% | −0.74 |
| NXST Nexstar Media Group Inc. | Sold out | 0.00% | −0.68 |
| VSAT Viasat Inc. | Reduce -56.1% | 2.24% | −0.63 |
| INSM Insmed Inc. | Reduce -35.0% | 2.78% | −0.60 |
| GSAT Globalstar Inc. | Reduce -67.9% | 0.43% | −0.55 |
| HAPN Happen Inc. | Reduce -40.3% | 1.04% | −0.52 |
| CTRN Citi Trends Inc. | Reduce -44.9% | 0.43% | −0.52 |
| UAL United Airlines Holdings Inc. | Reduce -40.7% | 0.88% | −0.50 |
| DAL Delta Air Lines Inc. | Sold out | 0.00% | −0.38 |
| LILAK Liberty Latin Americ Class C | Reduce -39.5% | 0.96% | −0.36 |
| LVS Las Vegas Sands Corp. | Sold out | 0.00% | −0.35 |
| BAC Bank of America Corp. | Sold out | 0.00% | −0.28 |
| PAGS Pagseguro Digital Ltd. Class A | Reduce -46.6% | 0.23% | −0.24 |
| ADAPY Adaptimmune Therapeutics-ADR | Reduce -21.8% | 0.14% | −0.23 |
| IOVA Iovance Biotherapeutics Inc. | Reduce -22.9% | 1.13% | −0.18 |
| ONIT Onity Group Inc. | Reduce -0.7% | 1.53% | −0.13 |
| ETSY Etsy Inc. | Sold out | 0.00% | −0.09 |
| PCT Purecycle Technologies Inc. | Reduce -2.4% | 0.44% | −0.09 |
| ARHS Arhaus Inc. | Reduce -15.2% | 0.78% | −0.07 |
| TE T1 Energy Inc. | Reduce -43.7% | 0.43% | −0.06 |
| ACHV Achieve Life Sciences Inc. | Sold out | 0.00% | −0.04 |
| SFST Southern First Bancshares | Sold out | 0.00% | −0.02 |
| TLYS Tilly's Inc. Class A SHRS | Reduce -21.5% | 0.20% | +0.01 |
| NESR National Energy Services Reu | Reduce -29.7% | 0.21% | +0.01 |
| WOOF Petco Health and Wellness Co. | Reduce -5.1% | 1.41% | +0.18 |
| CLLS Cellectis - ADR | Reduce -12.6% | 0.67% | +0.21 |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | Reduce -99.0% | 2.47% | +0.53 |
Portfolio Buys Q2 2025 → Q3 2025
| CHTR Charter Communications Inc. Class A | New | 4.93% | +4.93 |
| CNC Centene Corp. | Add +705.4% | 4.69% | +3.69 |
| MOH Molina Healthcare Inc. | New | 2.81% | +2.81 |
| HUM Humana Inc. | New | 1.95% | +1.95 |
| PAR Par Technology Corp. | Add +4210.9% | 1.98% | +1.89 |
| UNH Unitedhealth Group Inc. | Add +167.7% | 2.75% | +1.70 |
| ELV Elevance Health Inc. | New | 1.61% | +1.61 |
| TIC Tic Solutions Inc. | New | 1.39% | +1.39 |
| BIDU Baidu Inc. - Spon ADR | New | 1.20% | +1.20 |
| BNTX Biontech SE-ADR | Add +91.3% | 2.24% | +0.81 |
| JD Jd.com Inc.-ADR | Add +36.4% | 1.31% | +0.30 |
| GLNG Golar LNG Ltd. | Add +43.2% | 1.47% | +0.29 |
| AR Antero Resources Corp. | Add +52.2% | 2.51% | +0.27 |
| EXE Expand Energy Corp. | New | 0.22% | +0.22 |
| LAD Lithia Motors Inc. | New | 0.20% | +0.20 |
| CZR Caesars Entertainment Inc. | Add +27.4% | 2.42% | +0.17 |
| CVS CVS Health Corp. | Add +6.7% | 3.89% | +0.12 |
| WSC Willscot Holdings Corp. | New | 0.12% | +0.12 |
| LAB Standard Biotools Inc. | Add +12.8% | 0.84% | +0.06 |
| BCYC Bicycle Therapeutics PLC-ADR | Add +7.7% | 0.63% | +0.04 |
| AGO Assured Guaranty Ltd. | Add +14.3% | 1.55% | −0.03 |
| NFE New Fortress Energy Inc. | Add +43.7% | 0.93% | −0.17 |
| SGHT Sight Sciences Inc. | Add +1.3% | 0.63% | −0.21 |
Options Activity Q2 2025 → Q3 2025
| CMCSA Comcast Corp. Class A | call | Add +76.2% | 17,257,600 | $528.8M |
| CHTR Charter Communications Inc. Class A | call | Add +311.2% | 843,000 | $231.9M |
| CVS CVS Health Corp. | call | Add +33.9% | 1,460,200 | $110.1M |
| B Barrick Mining Corp. | call | Reduce -74.8% | 3,618,600 | $107.6M |
| BUD Anheuser-Busch Inbev-SPN ADR | call | Add +54.0% | 1,225,600 | $73.1M |
| GM General Motors Co. | call | Reduce -43.9% | 960,000 | $58.5M |
| ET Energy Transfer LP | call | Add +722.7% | 2,468,000 | $42.4M |
| BABA Alibaba Group Holding-SP ADR | call | Reduce -20.0% | 180,000 | $32.2M |
| CVX Chevron Corp. | call | New | 165,000 | $25.6M |
| BP BP PLC-Spons ADR | call | New | 600,000 | $20.7M |
| CZR Caesars Entertainment Inc. | call | Add +42.5% | 500,500 | $13.5M |
| INTC Intel Corp. | call | Reduce -90.8% | 280,000 | $9.4M |
| C Citigroup Inc. | call | Reduce -81.9% | 65,000 | $6.6M |
| CORT Corcept Therapeutics Inc. | put | New | 70,000 | $5.8M |
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 |