Pantera Capital Partners LP

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 27, 2026), Pantera Capital Partners LP reported 14 stock positions worth $163.8 million. Its top holding was Figure Technology Solut Class A (FIGR) at 38.5% of the portfolio, followed by Bitmine Immersion Technologi (BMNR, 23.6%) and Eightco (ORBS, 12.3%). Compared with Q3 2025, it opened 3 new positions, sold out of 5 and reduced 4. The biggest buy was a new position in Hyperliquid Strategies (PURR) and the biggest sale an exit from Circle Internet (CRCL).

Most Recent 13F
Q2 2026
Location
SAN FRANCISCO, CA
CIK
0002067181
Portfolio Value
$163.8M (Q4 2025)
SEC Filing
0000902664-26-001356 ↗ filed Feb 27, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q4 2024: $325.2M Q4 2024 Q1 2025: $148.4M Q1 2025 Q2 2025: $175.4M Q2 2025 Q3 2025: $497.7M Q3 2025 Q4 2025: $163.8M $163.8M Q4 2025 Q1 2026: $157.7M Q1 2026 Q2 2026: $101.7M Q2 2026

Holdings 14 stocks · $163.8M
FIGR Figure Technology Solut Class A 38.46% 1,542,871 $63.0M No change
BMNR Bitmine Immersion Technologi 23.64% 1,426,666 $38.7M Reduce -39.3%
ORBS Eightco Holdings Inc. 12.30% 11,643,837 $20.1M No change
PURR Hyperliquid Strategies 8.88% 4,085,540 $14.5M New
HSDT Solana Co. 6.86% 3,887,319 $11.2M No change
EMPD Empery Digital Inc. 2.79% 1,000,000 $4.6M Reduce -33.3%
XXI Twenty One Capital Inc. Class A 1.80% 337,500 $3.0M New
SKYA Skyai Inc. filed as SHARPS TECHNOLOGY INC 1.42% 1,150,000 $2.3M No change
ZONE Zone Frontier Inc. filed as CLEANCORE SOLUTIONS INC 1.19% 7,500,000 $1.9M No change
ZZPWF Zooz Power Ltd. filed as ZOOZ STRATEGY LTD 1.14% 4,263,390 $1.9M New
FWDI Forward Industries Inc. 0.82% 204,093 $1.3M Reduce -41.9%
GEMI Gemini Space Station Inc. Class A 0.56% 92,856 $921K No change
AMBR Amber International Holding 0.10% 95,694 $166K No change
TONX Ton Strategy Co. 0.03% 27,051 $54K Reduce -96.9%
Other holdings (1): bonds, preferreds, convertibles and warrants · $379K (not counted above)
SecurityClassShares / PrincipalValueChange
DFDVW Defi Development Corp. *W EXP 01/21/202 244,381$379KNew

Total filed on the 13F, all lines: $164.2M.

Portfolio Sells Q3 2025 → Q4 2025
CRCL Circle Internet Group Inc. Sold out 0.00% −11.14
BITB Bitwise Bitcoin ETF Sold out 0.00% −5.75
DFDV Defi Development Corp. Sold out 0.00% −2.65
TONX Ton Strategy Co. Reduce -96.9% 0.03% −1.19
FWDI Forward Industries Inc. Reduce -41.9% 0.82% −0.98
BNC Cea Industries Inc. Sold out 0.00% −0.96
BMNR Bitmine Immersion Technologi Reduce -39.3% 23.64% −0.88
SUIG Sui Group Holdings Ltd. Sold out 0.00% −0.30
EMPD Empery Digital Inc. Reduce -33.3% 2.79% +0.52

Portfolio Buys Q3 2025 → Q4 2025
PURR Hyperliquid Strategies New 8.88% +8.88
XXI Twenty One Capital Inc. Class A New 1.80% +1.80
ZZPWF Zooz Power Ltd. New 1.14% +1.14

Notes & Other Activity Q3 2025 → Q4 2025
DFDVW Defi Development Corp. *W EXP 01/21/202 New 244,381 $379K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 13$101.7MFIGR, PURR, BMNR, HSDT, ORBS
Q1 2026 13$157.7MFIGR, BTGO, BMNR, DYNC, PURR
Q4 2025Amended 14$163.8MFIGR, BMNR, ORBS, PURR, HSDT
Q3 2025Amended 16$497.7MBMNR, ORBS, HSDT, FIGR, CRCL
Q2 2025Amended 4$175.4MCRCL, BITB, DFDV, UPXI
Q1 2025 2$148.4MBITB, ETHW
Q4 2024 2$325.2MBITB, ETHW