In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), MBB Public Markets I LLC reported 36 stock positions worth $750.7 million . Its top holding was Progressive (PGR) at 24.5% of the portfolio, followed by Aercap (AER, 18.3% ) and Amazon.com (AMZN, 12.8% ). Compared with Q2 2025, it opened 3 new positions, sold out of 464, added to 4 and reduced 15. The biggest buy was Amazon.com (AMZN, shares +132% ) and the biggest sale Cameco (CCJ, shares −87% ).
Location CHICAGO, IL
CIK 0001892378
Portfolio Value $750.7M (Q3 2025) Holdings 36 stocks · $750.7M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2025 PGR Progressive Corp. 745,558 $184.1M Add +26.4% AER Aercap Holdings NV 1,133,357 $137.1M Add +34.7% AMZN Amazon.com Inc. 439,179 $96.4M Add +132.2% FERG Ferguson Enterprises Inc. 292,772 $65.8M Add +9.3% VEA Vanguard Ftse Developed ETF 662,117 $39.7M No change GOOGL Alphabet Inc. Class A 157,986 $38.4M No change EQT Eqt Corp. 616,513 $33.6M No change BG Bunge Global SA 380,853 $30.9M No change MSFT Microsoft Corp. 50,939 $26.4M Reduce -19.1% TECK Teck Resources Ltd.-CLS B 563,228 $24.7M No change AVGO Broadcom Inc. 74,841 $24.7M Reduce -25.0% AMGN Amgen Inc. 69,824 $19.7M No change FCX Freeport-McMoran Inc. 221,678 $8.7M Reduce -58.2% EWJ iShares MSCI Japan ETF 104,482 $8.4M Reduce -72.8% CCJ Cameco Corp. 50,965 $4.3M Reduce -86.6% KYTX Kyverna Therapeutics Inc. 614,477 $3.7M No change PSKY Paramount Skydance Class B 21,991 $416K New WDC Western Digital Corp. 2,323 $279K Reduce -59.1% STX Seagate Technology Holdings 1,171 $276K Reduce -59.1% COF Capital One Financial Corp. 1,228 $261K Reduce -16.1% IBP Installed Building Products 1,000 $247K New BRK.B Berkshire Hathaway Inc. Class B 489 $246K No change PLTR Palantir Technologies Inc. Class A 1,208 $220K Reduce -59.1% GTX Garrett Motion Inc. 15,768 $215K No change AMG Affiliated Managers Group 894 $213K New CVX Chevron Corp. 1,324 $206K Reduce -15.3% TSLA Tesla Inc. 454 $202K Reduce -59.1% HLMN Hillman Solutions Corp. 21,650 $199K No change IMXI International Money Express 14,179 $198K No change JBI Janus International Group Inc. 19,808 $196K No change AHCO Adapthealth Corp. 18,132 $162K No change VMD Viemed Healthcare Inc. 23,384 $159K No change F Ford Motor Co. filed as FORD MTR CO 10,183 $122K Reduce -59.1% BX Blackstone Inc. 698 $119K Reduce -59.2% VTRS Viatris Inc. 11,098 $110K Reduce -59.1% AMCR Amcor PLC 11,107 $91K Reduce -59.1%
Options reported separately and not counted above: EWZ calls ($1.6M), BX puts ($137K).
Portfolio Sells Q2 2025 → Q3 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▲ CCJ Cameco Corp. Reduce -86.6% 0.57% −2.68 EWJ iShares MSCI Japan ETF Reduce -72.8% 1.12% −2.20 VST Vistra Corp. Sold out 0.00% −2.09 SLB SLB Ltd. Sold out 0.00% −1.74 IQV Iqvia Holdings Inc. Sold out 0.00% −1.54 INDA iShares MSCI India ETF Sold out 0.00% −1.50 FCX Freeport-McMoran Inc. Reduce -58.2% 1.16% −1.49 DFIV Dimensional International Va Sold out 0.00% −0.69 SPSM SS SPDR P S&P 600 Small Cap Sold out 0.00% −0.39 EWZ iShares MSCI Brazil ETF Sold out 0.00% −0.11 MSFT Microsoft Corp. Reduce -19.1% 3.51% −0.09 TKO Tko Group Holdings Inc. Sold out 0.00% −0.08 NRG NRG Energy Inc. Sold out 0.00% −0.05 GEV GE Vernova Inc. Sold out 0.00% −0.05 JBL Jabil Inc. Sold out 0.00% −0.05 NFLX Netflix Inc. Sold out 0.00% −0.04 AXON Axon Enterprise Inc. Sold out 0.00% −0.04 DLTR Dollar Tree Inc. Sold out 0.00% −0.04 RCL Royal Caribbean Cruises Ltd. Sold out 0.00% −0.04 CRWD CrowdStrike Holdings Inc. Class A Sold out 0.00% −0.04 ORCL Oracle Corp. Sold out 0.00% −0.04 HWM Howmet Aerospace Inc. Sold out 0.00% −0.04 APH Amphenol Corp. Class A Sold out 0.00% −0.04 CEG Constellation Energy Sold out 0.00% −0.04 DG Dollar General Corp. Sold out 0.00% −0.04 PWR Quanta Services Inc. Sold out 0.00% −0.04 ULTA Ulta Beauty Inc. Sold out 0.00% −0.04 MCHP Microchip Technology Inc. Sold out 0.00% −0.04 NVDA Nvidia Corp. Sold out 0.00% −0.04 AMD Advanced Micro Devices Sold out 0.00% −0.04 IDXX Idexx Laboratories Inc. Sold out 0.00% −0.04 INTU Intuit Inc. Sold out 0.00% −0.04 CCL Carnival Corp. Sold out 0.00% −0.04 MOS The Mosaic Co. Sold out 0.00% −0.04 HAS Hasbro Inc. Sold out 0.00% −0.04 FSLR First Solar Inc. Sold out 0.00% −0.04 CAH Cardinal Health Inc. Sold out 0.00% −0.04 DASH DoorDash Inc. Class A Sold out 0.00% −0.04 JCI Johnson Controls Internation Sold out 0.00% −0.04 NOW ServiceNow Inc. Sold out 0.00% −0.04 GE General Electric Sold out 0.00% −0.04 META Meta Platforms Inc. Class A Sold out 0.00% −0.04 GS Goldman Sachs Group Inc. Sold out 0.00% −0.04 HPE Hewlett Packard Enterprise Sold out 0.00% −0.04 KLAC KLA Corp. Sold out 0.00% −0.04 LRCX Lam Research Corp. Sold out 0.00% −0.04 TT Trane Technologies PLC Sold out 0.00% −0.04 UBER Uber Technologies Inc. Sold out 0.00% −0.04 DIS The Walt Disney Co. Sold out 0.00% −0.04 LYV Live Nation Entertainment Inc. Sold out 0.00% −0.04
Portfolio Buys Q2 2025 → Q3 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▼ AMZN Amazon.com Inc. Add +132.2% 12.85% +8.07 AER Aercap Holdings NV Add +34.7% 18.27% +6.94 PGR Progressive Corp. Add +26.4% 24.53% +6.41 FERG Ferguson Enterprises Inc. Add +9.3% 8.76% +2.05 PSKY Paramount Skydance Class B New 0.06% +0.06 IBP Installed Building Products New 0.03% +0.03 AMG Affiliated Managers Group New 0.03% +0.03
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Sold out 240,000 $148.3Mbefore exit AMZN Amazon.com Inc. call Sold out 80,000 $17.6Mbefore exit AVGO Broadcom Inc. call Sold out 35,000 $9.6Mbefore exit FSLR First Solar Inc. call Sold out 45,000 $7.4Mbefore exit EWZ iShares MSCI Brazil ETF call Reduce -77.2% 50,100 $1.6M
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 25 $925.7M PGR, AER, AMZN, FERG, MDLN Q1 2026 24 $835.2M PGR, AER, AMZN, FERG, MDLN Q4 2025 27 $957.2M PGR, AER, AMZN, FERG, MDLN Q3 2025 36 $750.7M PGR, AER, AMZN, FERG, VEA Q2 2025 497 $868.8M PGR, AER, FERG, AMZN, VEA Q1 2025 Amended 523 $867.8M PGR, AER, SPMD, UNH, AMZN Q4 2024 58 $843.9M TECK, PGR, CTRA, DFAT, BG Q3 2024 534 $1.2B TECK, SPSM, CCJ, CTRA, BG Q2 2024 671 $4.8B MSFT, AAPL, NVDA, RSP, AMZN Q1 2024 268 $1.6B RSP, TECK, XLV, BG, EWZ