PB Investment Partners, L.P.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), PB Investment Partners, L.P. reported 9 stock positions worth $157.4 million. Its top holding was Capital One Financial (COF) at 23.7% of the portfolio, followed by Hilton Grand Vacations (HGV, 19.9%) and Apollo Global Management (APO, 15.1%). Compared with Q3 2025, it opened 1 new position, added to 3 and reduced 3. The biggest buy was a new position in Nice Ltd. - Spon ADR (NICE) and the biggest sale Progressive (PGR, shares −71%).

Most Recent 13F
Q2 2026
Location
BURLINGAME, CA
CIK
0001910391
Portfolio Value
$157.4M (Q4 2025)
SEC Filing
0001420506-26-000386 ↗ filed Feb 13, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $132.7M Q1 2024 Q2 2024: $123.2M Q2 2024 Q3 2024: $117.7M Q3 2024 Q4 2024: $133.5M Q4 2024 Q1 2025: $126.3M Q1 2025 Q2 2025: $147.0M Q2 2025 Q3 2025: $147.3M Q3 2025 Q4 2025: $157.4M $157.4M Q4 2025 Q1 2026: $127.1M Q1 2026 Q2 2026: $150.2M Q2 2026

Holdings 9 stocks · $157.4M
COF Capital One Financial Corp. 23.75% 154,259 $37.4M No change
HGV Hilton Grand Vacations Inc. 19.92% 700,832 $31.4M Add +1.4%
APO Apollo Global Management Inc. 15.05% 163,726 $23.7M No change
OMF Onemain Holdings Inc. 12.63% 294,421 $19.9M Reduce -7.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 11.26% 322,345 $17.7M Reduce -1.4%
BLK BlackRock Inc. 9.67% 14,221 $15.2M Add +5.1%
GBTG Global Business Travel Group 4.52% 930,961 $7.1M Add +0.1%
NICE Nice Ltd. - Spon ADR 2.22% 30,892 $3.5M New
PGR Progressive Corp. 0.98% 6,778 $1.5M Reduce -70.8%

Portfolio Sells Q3 2025 → Q4 2025
PGR Progressive Corp. Reduce -70.8% 0.98% −2.91
BAC Bank of America Corp. Reduce -1.4% 11.26% −0.20
OMF Onemain Holdings Inc. Reduce -7.0% 12.63% +0.49

Portfolio Buys Q3 2025 → Q4 2025
NICE Nice Ltd. - Spon ADR New 2.22% +2.22
HGV Hilton Grand Vacations Inc. Add +1.4% 19.92% +0.30
GBTG Global Business Travel Group Add +0.1% 4.52% −0.58
BLK BlackRock Inc. Add +5.1% 9.67% −1.04

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 9$150.2MHGV, COF, APO, BLK, OMF
Q1 2026 10$127.1MHGV, COF, APO, BLK, OMF
Q4 2025 9$157.4MCOF, HGV, APO, OMF, BAC
Q3 2025 8$147.3MCOF, HGV, APO, OMF, BAC
Q2 2025 8$147.0MCOF, HGV, APO, OMF, BAC
Q1 2025 8$126.3MCOF, APO, HGV, PGR, OMF
Q4 2024 8$133.5MAPO, COF, HGV, OMF, BAC
Q3 2024 8$117.7MCOF, APO, PGR, HGV, OMF
Q2 2024 9$123.2MHGV, PGR, OMF, COF, APO
Q1 2024 8$132.7MCOF, PGR, HGV, APO, OMF