Pingora Partners LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Pingora Partners LLC reported 207 stock positions worth $134.8 million. Its top holding was Ftai Aviation (FTAI) at 25.2% of the portfolio, followed by Crescent Energy Class A (CRGY, 10.0%) and Ftai Infrastructure (FIP, 5.0%). Compared with Q4 2024, it opened 9 new positions, sold out of 26, added to 30 and reduced 44. The biggest buy was Alibaba Group Holding-SP ADR (BABA, shares +2%) and the biggest sale Crescent Energy Class A (CRGY, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- WILSON, WY
- CIK
- 0002011176
- Portfolio Value
- $134.8M (Q1 2025)
- SEC Filing
- 0002011176-25-000003 ↗ filed May 15, 2025
Holdings Value
Holdings 207 stocks · $134.8M
| FTAI Ftai Aviation Ltd. | 25.19% | 305,776 | $34.0M | Add +1.3% |
| CRGY Crescent Energy Inc. Class A | 10.04% | 1,204,322 | $13.5M | Reduce -2.1% |
| FIP Ftai Infrastructure Inc. | 5.01% | 1,490,744 | $6.8M | Add +4.9% |
| NFE New Fortress Energy Inc. | 4.66% | 755,393 | $6.3M | Add +1.2% |
| BABA Alibaba Group Holding-SP ADR | 3.50% | 35,699 | $4.7M | Add +2.4% |
| CTRA Coterra Energy Inc. | 2.98% | 139,041 | $4.0M | Add +0.8% |
| T AT&T Inc. | 2.93% | 139,595 | $3.9M | Reduce -1.3% |
| WBA Walgreens Boots Alliance Inc. | 1.69% | 203,880 | $2.3M | Reduce -1.0% |
| META Meta Platforms Inc. Class A | 1.64% | 3,830 | $2.2M | Reduce -3.5% |
| PFE Pfizer Inc. | 1.57% | 83,568 | $2.1M | Reduce -1.4% |
| ET Energy Transfer LP | 1.57% | 113,656 | $2.1M | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.49% | 8,090 | $2.0M | Reduce -1.2% |
| AAPL Apple Inc. | 1.47% | 8,941 | $2.0M | Reduce -2.0% |
| XOM Exxon Mobil Corp. | 1.41% | 16,005 | $1.9M | Reduce -4.0% |
| DINO HF Sinclair Corp. | 1.37% | 56,230 | $1.8M | Add +8825.4% |
| BA The Boeing Co. | 1.24% | 9,826 | $1.7M | Reduce -0.1% |
| MPLX MPLX LP | 1.22% | 30,823 | $1.6M | No change |
| KMI Kinder Morgan Inc. | 1.20% | 56,800 | $1.6M | Reduce -7.9% |
| LLY Eli Lilly & Co. | 1.16% | 1,900 | $1.6M | No change |
| AMZN Amazon.com Inc. | 1.15% | 8,145 | $1.5M | Add +5.8% |
| SJT San Juan Basin Royalty TR | 1.12% | 272,788 | $1.5M | Reduce -2.5% |
| FCX Freeport-McMoran Inc. | 1.06% | 37,860 | $1.4M | Add +8.6% |
| PVL Permianville Royalty Trust | 1.04% | 902,508 | $1.4M | No change |
| BMY Bristol-Myers Squibb Co. | 1.03% | 22,810 | $1.4M | No change |
| MSFT Microsoft Corp. | 1.03% | 3,685 | $1.4M | Reduce -4.5% |
| KHC The Kraft Heinz Co. | 1.02% | 45,198 | $1.4M | Add +18.5% |
| BKD Brookdale Senior Living Inc. | 1.01% | 217,684 | $1.4M | Add +12.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.99% | 13,556 | $1.3M | Reduce -6.9% |
| SHEL Shell PLC-ADR | 0.97% | 17,875 | $1.3M | Reduce -7.6% |
| SBSI Southside Bancshares Inc. | 0.90% | 41,675 | $1.2M | New |
| MRK Merck & Co. Inc. | 0.86% | 12,979 | $1.2M | No change |
| AKAM Akamai Technologies Inc. | 0.81% | 13,507 | $1.1M | Reduce -0.6% |
| MCD McDonald's Corp. | 0.77% | 3,332 | $1.0M | Reduce -0.3% |
| JNJ Johnson & Johnson | 0.61% | 4,979 | $826K | Reduce -2.0% |
| CVX Chevron Corp. | 0.50% | 4,002 | $669K | Reduce -10.0% |
| DVN Devon Energy Corp. | 0.46% | 16,422 | $614K | No change |
| PG The Procter & Gamble Co. | 0.45% | 3,597 | $613K | No change |
| PYPL PayPal Holdings Inc. | 0.40% | 8,256 | $539K | Add +3.8% |
| CWH Camping World Holdings Inc. Class A | 0.39% | 32,550 | $526K | Add +114.1% |
| ADP Automatic Data Processing | 0.36% | 1,600 | $489K | No change |
| AFL Aflac Inc. | 0.33% | 4,000 | $445K | No change |
| NOG Northern Oil and Gas Inc. | 0.32% | 14,200 | $429K | Add +71.1% |
| HD Home Depot Inc. | 0.31% | 1,155 | $423K | No change |
| TDAY USA Today Co. Inc. filed as GANNETT CO INC | 0.31% | 145,987 | $422K | Add +33.0% |
| AMLP Alerian MLP ETF | 0.31% | 8,028 | $417K | No change |
| NWL Newell Brands Inc. | 0.30% | 66,224 | $411K | Add +3.1% |
| KRP Kimbell Royalty Partners LP | 0.30% | 29,226 | $409K | No change |
| CI The Cigna Group | 0.29% | 1,200 | $395K | No change |
| GOOG Alphabet Inc. Class C | 0.28% | 2,450 | $383K | No change |
| MU Micron Technology Inc. | 0.28% | 4,312 | $375K | Add +34.1% |
| DOCU Docusign Inc. | 0.28% | 4,600 | $374K | No change |
| ABBV Abbvie Inc. | 0.27% | 1,755 | $368K | Reduce -4.6% |
| PEP Pepsico Inc. | 0.27% | 2,433 | $365K | No change |
| AMD Advanced Micro Devices | 0.27% | 3,495 | $359K | Add +25.0% |
| C Citigroup Inc. | 0.24% | 4,495 | $319K | Reduce -6.3% |
| MLI Mueller Industries Inc. | 0.23% | 4,000 | $305K | No change |
| NVDA Nvidia Corp. | 0.20% | 2,475 | $268K | No change |
| PAA Plains All Amer Pipeline LP | 0.20% | 13,233 | $265K | No change |
| BORR Borr Drilling Ltd. | 0.20% | 120,000 | $263K | Add +39.9% |
| TLT iShares 20+ Year Treasury BD | 0.19% | 2,800 | $255K | Add +86.7% |
| GOOGL Alphabet Inc. Class A | 0.19% | 1,647 | $255K | Add +24.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.19% | 477 | $254K | No change |
| CAT Caterpillar Inc. | 0.18% | 750 | $247K | No change |
| ORCL Oracle Corp. | 0.17% | 1,600 | $224K | No change |
| ABT Abbott Laboratories | 0.16% | 1,650 | $219K | No change |
| NEE Nextera Energy Inc. | 0.16% | 3,000 | $213K | No change |
| PSA Public Storage | 0.16% | 700 | $210K | No change |
| UNP Union Pacific Corp. | 0.14% | 800 | $189K | No change |
| HON Honeywell International Inc. | 0.14% | 886 | $188K | No change |
| MDY State Street SPDR S&P Midcap | 0.14% | 350 | $187K | No change |
| PTEN Patterson-Uti Energy Inc. | 0.12% | 20,447 | $168K | Reduce -9.9% |
| MMM 3M Co. | 0.12% | 1,100 | $162K | No change |
| KO The Coca-Cola Co. | 0.12% | 2,175 | $156K | No change |
| PAYX Paychex Inc. | 0.11% | 1,000 | $154K | No change |
| ENVX Enovix Corp. | 0.11% | 20,700 | $152K | Add +93.5% |
| NFLX Netflix Inc. | 0.10% | 150 | $140K | No change |
| VNQ Vanguard Real Estate ETF | 0.10% | 1,500 | $136K | No change |
| MDLZ Mondelez International Inc. Class A | 0.10% | 1,890 | $128K | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.09% | 1,030 | $125K | Reduce -6.4% |
| LVO Liveone Inc. | 0.09% | 176,425 | $123K | Add +175.5% |
| EMR Emerson Electric Co. | 0.09% | 1,120 | $123K | No change |
| FDX FedEx Corp. | 0.09% | 500 | $122K | No change |
| TSLA Tesla Inc. | 0.09% | 455 | $118K | No change |
| DE Deere & Co. | 0.09% | 250 | $117K | No change |
| IYH iShares U.S. Healthcare ETF | 0.08% | 1,700 | $104K | New |
| EPD Enterprise Products Partners | 0.08% | 3,000 | $102K | Reduce -12.9% |
| TMUS T-Mobile US Inc. | 0.08% | 380 | $101K | No change |
| SBUX Starbucks Corp. | 0.07% | 1,000 | $98K | Reduce -33.3% |
| BX Blackstone Inc. | 0.07% | 700 | $98K | Reduce -26.3% |
| JPM JPMorgan Chase & Co. | 0.07% | 395 | $97K | Reduce -21.8% |
| V Visa Inc. Class A | 0.07% | 275 | $96K | No change |
| IEF iShares 7-10 Year Treasury B | 0.07% | 1,000 | $95K | New |
| VOD Vodafone Group PLC-SP ADR | 0.07% | 10,060 | $94K | Reduce -16.6% |
| TT Trane Technologies PLC | 0.07% | 275 | $93K | No change |
| PFG Principal Financial Group | 0.06% | 1,000 | $84K | No change |
| UL Unilever PLC | 0.06% | 1,392 | $83K | No change |
| PWR Quanta Services Inc. | 0.06% | 315 | $80K | No change |
| CNDT Conduent Inc. | 0.06% | 29,400 | $79K | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.06% | 450 | $75K | Reduce -10.0% |
| AMGN Amgen Inc. | 0.05% | 235 | $73K | Reduce -48.4% |
Portfolio Sells Q4 2024 → Q1 2025
| CRGY Crescent Energy Inc. Class A | Reduce -2.1% | 10.04% | −1.74 |
| OKTA Okta Inc. | Sold out | 0.00% | −0.27 |
| LUV Southwest Airlines Co. | Sold out | 0.00% | −0.16 |
| EXE Expand Energy Corp. | Sold out | 0.00% | −0.13 |
| AAOI Applied Optoelectronics Inc. | Sold out | 0.00% | −0.11 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.10 |
| BCS Barclays PLC-Spons ADR | Sold out | 0.00% | −0.08 |
| DIS The Walt Disney Co. | Reduce -6.9% | 0.99% | −0.07 |
| ALL Allstate Corp. | Sold out | 0.00% | −0.06 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −0.06 |
| HAL Halliburton Co. | Sold out | 0.00% | −0.06 |
| SLB SLB Ltd. | Sold out | 0.00% | −0.05 |
| AVGO Broadcom Inc. | Reduce -51.9% | 0.03% | −0.05 |
| HLI Houlihan Lokey Inc. | Sold out | 0.00% | −0.05 |
| AKAM Akamai Technologies Inc. | Reduce -0.6% | 0.81% | −0.04 |
| MSFT Microsoft Corp. | Reduce -4.5% | 1.03% | −0.04 |
| HCA HCA Healthcare Inc. | Sold out | 0.00% | −0.04 |
| BX Blackstone Inc. | Reduce -26.3% | 0.07% | −0.03 |
| APD Air Products & Chemicals Inc. | Sold out | 0.00% | −0.03 |
| IJR iShares Core S&P Small-Cap E | Reduce -94.4% | 0.00% | −0.03 |
| AAPL Apple Inc. | Reduce -2.0% | 1.47% | −0.02 |
| CCJ Cameco Corp. | Sold out | 0.00% | −0.02 |
| AMGN Amgen Inc. | Reduce -48.4% | 0.05% | −0.02 |
| LIN Linde PLC | Sold out | 0.00% | −0.02 |
| BP BP PLC-Spons ADR | Sold out | 0.00% | −0.02 |
| WMT Walmart Inc. | Reduce -55.6% | 0.02% | −0.02 |
| NCLH Norwegian Cruise Line Holdin | Sold out | 0.00% | −0.02 |
| RTX RTX Corp. | Sold out | 0.00% | −0.02 |
| SBUX Starbucks Corp. | Reduce -33.3% | 0.07% | −0.02 |
| KVUE Kenvue Inc. | Sold out | 0.00% | −0.01 |
| CTAS Cintas Corp. | Reduce -44.4% | 0.03% | −0.01 |
| FITB Fifth Third Bancorp | Sold out | 0.00% | −0.01 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -10.0% | 0.06% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -21.8% | 0.07% | −0.01 |
| MPC Marathon Petroleum Corp. | Sold out | 0.00% | −0.01 |
| FNF Fidelity National Financial | Sold out | 0.00% | −0.01 |
| LMT Lockheed Martin Corp. | Reduce -40.0% | 0.01% | −0.01 |
| NOC Northrop Grumman Corp. | Sold out | 0.00% | −0.01 |
| F Ford Motor Co. | Sold out | 0.00% | −0.01 |
| GSK GSK PLC-Spon ADR | Reduce -60.0% | 0.01% | −0.01 |
| NNN NNN REIT Inc. | Sold out | 0.00% | −0.00 |
| MA Mastercard Inc. Class A | Reduce -22.3% | 0.04% | −0.00 |
| FE Firstenergy Corp. | Reduce -37.2% | 0.01% | −0.00 |
| QCOM Qualcomm Inc. | Reduce -25.0% | 0.02% | −0.00 |
| SSRM SSR Mining Inc. | Reduce -55.0% | 0.01% | −0.00 |
| DUK Duke Energy Corp. | Sold out | 0.00% | −0.00 |
| GILD Gilead Sciences Inc. | Reduce -28.6% | 0.04% | −0.00 |
| IWS iShares Russell Mid-Cap Valu | Reduce -9.1% | 0.01% | 0.00 |
| ZTS Zoetis Inc. | Reduce -10.8% | 0.02% | +0.00 |
| COST Costco Wholesale Corp. | Reduce -11.9% | 0.05% | +0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| BABA Alibaba Group Holding-SP ADR | Add +2.4% | 3.50% | +1.56 |
| DINO HF Sinclair Corp. | Add +8825.4% | 1.37% | +1.36 |
| SBSI Southside Bancshares Inc. | New | 0.90% | +0.90 |
| CTRA Coterra Energy Inc. | Add +0.8% | 2.98% | +0.67 |
| BKD Brookdale Senior Living Inc. | Add +12.7% | 1.01% | +0.37 |
| KHC The Kraft Heinz Co. | Add +18.5% | 1.02% | +0.25 |
| FCX Freeport-McMoran Inc. | Add +8.6% | 1.06% | +0.19 |
| CWH Camping World Holdings Inc. Class A | Add +114.1% | 0.39% | +0.18 |
| NOG Northern Oil and Gas Inc. | Add +71.1% | 0.32% | +0.12 |
| TLT iShares 20+ Year Treasury BD | Add +86.7% | 0.19% | +0.10 |
| MU Micron Technology Inc. | Add +34.1% | 0.28% | +0.10 |
| IYH iShares U.S. Healthcare ETF | New | 0.08% | +0.08 |
| IEF iShares 7-10 Year Treasury B | New | 0.07% | +0.07 |
| AMD Advanced Micro Devices | Add +25.0% | 0.27% | +0.05 |
| AMZN Amazon.com Inc. | Add +5.8% | 1.15% | +0.04 |
| ENVX Enovix Corp. | Add +93.5% | 0.11% | +0.04 |
| CPRI Capri Holdings Ltd. | New | 0.04% | +0.04 |
| LVO Liveone Inc. | Add +175.5% | 0.09% | +0.03 |
| UBER Uber Technologies Inc. | New | 0.03% | +0.03 |
| GOOGL Alphabet Inc. Class A | Add +24.1% | 0.19% | +0.02 |
| GIS General Mills Inc. | Add +416.7% | 0.03% | +0.02 |
| DSGR Distribution Solutions Group | New | 0.02% | +0.02 |
| NNDM Nano Dimension Ltd. - ADR | New | 0.02% | +0.02 |
| ALTISOURCE PORTFOLIO SOLNS S | Add +175.0% | 0.02% | +0.01 |
| PODC Podcastone Inc. | Add +122.3% | 0.02% | +0.01 |
| SCYX Scynexis Inc. | New | 0.01% | +0.01 |
| SRE Sempra | Add +48.3% | 0.02% | +0.01 |
| PRPL Purple Innovation Inc. | New | 0.00% | +0.00 |
| CEG Constellation Energy | Add +66.7% | 0.01% | +0.00 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +26.3% | 0.01% | +0.00 |
| RH RH | Add +50.0% | 0.05% | +0.00 |
| METCB Ramaco Resources Inc. Class B | Add +110.0% | 0.00% | +0.00 |
| BORR Borr Drilling Ltd. | Add +39.9% | 0.20% | −0.02 |
| PYPL PayPal Holdings Inc. | Add +3.8% | 0.40% | −0.05 |
| TDAY USA Today Co. Inc. | Add +33.0% | 0.31% | −0.05 |
| NWL Newell Brands Inc. | Add +3.1% | 0.30% | −0.11 |
| FIP Ftai Infrastructure Inc. | Add +4.9% | 5.01% | −1.75 |
| NFE New Fortress Energy Inc. | Add +1.2% | 4.66% | −2.74 |
| FTAI Ftai Aviation Ltd. | Add +1.3% | 25.19% | −3.30 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 181 | $171.3M | FTAI, CRGY, FIP, DVN, DINO |
| Q1 2026 | 185 | $168.7M | FTAI, CRGY, FIP, CTRA, BABA |
| Q4 2025 | 202 | $163.5M | FTAI, CRGY, FIP, BABA, CTRA |
| Q3 2025 | 200 | $150.6M | FTAI, CRGY, FIP, BABA, T |
| Q2 2025 | 204 | $133.8M | FTAI, CRGY, FIP, BABA, T |
| Q1 2025 | 207 | $134.8M | FTAI, CRGY, FIP, NFE, BABA |
| Q4 2024 | 224 | $152.5M | FTAI, CRGY, NFE, FIP, CTRA |
| Q3 2024 | 221 | $141.1M | FTAI, CRGY, FIP, BABA, CTRA |
| Q2 2024 | 231 | $140.9M | FTAI, CRGY, FIP, CTRA, T |
| Q1 2024 | 254 | $136.6M | FTAI, CRGY, FIP, CTRA, WBA |