Paragon Associates & Paragon Associates II Joint Venture
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Paragon Associates & Paragon Associates II Joint Venture reported 13 stock positions worth $42.7 million. Its top holding was Agnico Eagle Mines (AEM) at 33.0% of the portfolio, followed by Navigator (NVGS, 18.7%) and Epsilon Energy (EPSN, 12.3%). Compared with Q4 2024, it opened 4 new positions, sold out of 3, added to 3 and reduced 3. The biggest buy was Agnico Eagle Mines (AEM, shares +4%) and the biggest sale Franco-Nevada (FNV, shares −57%).
- Most Recent 13F
- Q1 2026
- Location
- DALLAS, TX
- CIK
- 0001047859
- Portfolio Value
- $42.7M (Q1 2025)
- SEC Filing
- 0001047859-25-000003 ↗ filed May 13, 2025
Holdings Value
Holdings 13 stocks · $42.7M
| AEM Agnico Eagle Mines Ltd. | 33.03% | 130,000 | $14.1M | Add +4.0% |
| NVGS Navigator Holdings Ltd. | 18.72% | 600,000 | $8.0M | No change |
| EPSN Epsilon Energy Ltd. | 12.33% | 745,000 | $5.3M | No change |
| BELFB Bel Fuse Inc. Class B | 10.88% | 62,000 | $4.6M | Reduce -8.8% |
| NPKI NPK International Inc. | 5.79% | 425,000 | $2.5M | Add +466.7% |
| FNV Franco-Nevada Corp. | 5.54% | 15,000 | $2.4M | Reduce -57.1% |
| DMAC Diamedica Therapeutics Inc. | 5.33% | 600,000 | $2.3M | Add +16.6% |
| IRIX Iridex Corp. | 2.32% | 1,000,000 | $990K | No change |
| AKYA Akoya Biosciences Inc. | 2.19% | 671,000 | $933K | Reduce -16.2% |
| CDNA Caredx Inc. | 2.08% | 50,000 | $888K | New |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 1.09% | 5,000 | $464K | New |
| QTRX Quanterix Corp. | 0.38% | 25,000 | $163K | New |
| PRGO Perrigo Co. PLC | 0.33% | 5,000 | $140K | New |
Portfolio Sells Q4 2024 → Q1 2025
| FNV Franco-Nevada Corp. | Reduce -57.1% | 5.54% | −3.98 |
| HON Honeywell International Inc. | Sold out | 0.00% | −3.92 |
| UAL United Airlines Holdings Inc. | Sold out | 0.00% | −2.81 |
| BELFB Bel Fuse Inc. Class B | Reduce -8.8% | 10.88% | −2.09 |
| AKYA Akoya Biosciences Inc. | Reduce -16.2% | 2.19% | −2.06 |
| ASPI Asp Isotopes Inc. | Sold out | 0.00% | −0.26 |
Portfolio Buys Q4 2024 → Q1 2025
| AEM Agnico Eagle Mines Ltd. | Add +4.0% | 33.03% | +10.42 |
| NPKI NPK International Inc. | Add +466.7% | 5.79% | +4.46 |
| CDNA Caredx Inc. | New | 2.08% | +2.08 |
| KSPI JSC Kaspi.kz ADR | New | 1.09% | +1.09 |
| QTRX Quanterix Corp. | New | 0.38% | +0.38 |
| PRGO Perrigo Co. PLC | New | 0.33% | +0.33 |
| DMAC Diamedica Therapeutics Inc. | Add +16.6% | 5.33% | −1.13 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q1 2026 | 14 | $73.6M | CDE, SPY, CDNA, DMAC, NVGS |
| Q4 2025 | 12 | $48.4M | AEM, CDNA, DMAC, QQQ, NVGS |
| Q3 2025 | 12 | $56.1M | AEM, NVGS, CDNA, DMAC, AMG |
| Q2 2025 | 15 | $63.0M | AEM, NVGS, SPY, EPSN, STKL |
| Q1 2025 | 13 | $42.7M | AEM, NVGS, EPSN, BELFB, NPKI |
| Q4 2024 | 12 | $43.2M | AEM, NVGS, BELFB, EPSN, FNV |
| Q3 2024 | 16 | $55.7M | NVGS, AEM, SPY, BELFB, EPSN |
| Q2 2024 | 11 | $40.9M | NVGS, AEM, NEM, EPSN, BELFB |
| Q1 2024 | 16 | $56.1M | NVGS, AEM, EPSN, PBF, VLO |