Paragon Associates & Paragon Associates II Joint Venture
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Paragon Associates & Paragon Associates II Joint Venture reported 12 stock positions worth $56.1 million. Its top holding was Agnico Eagle Mines (AEM) at 24.0% of the portfolio, followed by Navigator (NVGS, 13.8%) and Caredx (CDNA, 11.0%). Compared with Q2 2025, it opened 3 new positions, sold out of 6, added to 2 and reduced 3. The biggest buy was a new position in Affiliated Managers (AMG) and the biggest sale an exit from SS SPDR S&P 500 ETF Trust-US (SPY).
- Most Recent 13F
- Q1 2026
- Location
- DALLAS, TX
- CIK
- 0001047859
- Portfolio Value
- $56.1M (Q3 2025)
- SEC Filing
- 0001047859-25-000007 ↗ filed Nov 12, 2025
Holdings Value
Holdings 12 stocks · $56.1M
| AEM Agnico Eagle Mines Ltd. | 24.05% | 80,000 | $13.5M | Reduce -33.3% |
| NVGS Navigator Holdings Ltd. | 13.81% | 500,000 | $7.7M | No change |
| CDNA Caredx Inc. | 11.02% | 425,000 | $6.2M | Add +93.7% |
| DMAC Diamedica Therapeutics Inc. | 10.72% | 875,000 | $6.0M | Add +34.6% |
| AMG Affiliated Managers Group | 9.55% | 22,467 | $5.4M | New |
| NPKI NPK International Inc. | 9.08% | 450,000 | $5.1M | Reduce -10.0% |
| STKL Sunopta Inc. | 7.84% | 750,000 | $4.4M | No change |
| EPSN Epsilon Energy Ltd. | 5.84% | 650,000 | $3.3M | No change |
| IAUX I-80 Gold Corp. | 2.57% | 1,500,000 | $1.4M | New |
| BELFB Bel Fuse Inc. Class B | 2.51% | 10,000 | $1.4M | Reduce -75.0% |
| IRIX Iridex Corp. | 2.03% | 1,000,000 | $1.1M | No change |
| QTRX Quanterix Corp. | 0.97% | 100,671 | $547K | New |
Portfolio Sells Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −9.82 |
| PRGO Perrigo Co. PLC | Sold out | 0.00% | −6.37 |
| AMZN Amazon.com Inc. | Sold out | 0.00% | −5.05 |
| BELFB Bel Fuse Inc. Class B | Reduce -75.0% | 2.51% | −3.69 |
| FNV Franco-Nevada Corp. | Sold out | 0.00% | −2.60 |
| AKYA Akoya Biosciences Inc. | Sold out | 0.00% | −1.39 |
| PINS Pinterest Inc. Class A | Sold out | 0.00% | −1.14 |
| AEM Agnico Eagle Mines Ltd. | Reduce -33.3% | 24.05% | +1.38 |
| NPKI NPK International Inc. | Reduce -10.0% | 9.08% | +2.32 |
Portfolio Buys Q2 2025 → Q3 2025
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 |