Pingora Partners LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Pingora Partners LLC reported 204 stock positions worth $133.8 million. Its top holding was Ftai Aviation (FTAI) at 26.6% of the portfolio, followed by Crescent Energy Class A (CRGY, 7.8%) and Ftai Infrastructure (FIP, 7.5%). Compared with Q1 2025, it opened 3 new positions, sold out of 6, added to 22 and reduced 47. The biggest buy was Ftai Infrastructure (FIP, shares +10%) and the biggest sale San Juan Basin Royalty TR (SJT, shares −77%).

Most Recent 13F
Q2 2026
Location
WILSON, WY
CIK
0002011176
Portfolio Value
$133.8M (Q2 2025)
SEC Filing
0002011176-25-000005 ↗ filed Aug 14, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $136.6M Q1 2024 Q2 2024: $140.9M Q2 2024 Q3 2024: $141.1M Q3 2024 Q4 2024: $152.5M Q4 2024 Q1 2025: $134.8M Q1 2025 Q2 2025: $133.8M $133.8M Q2 2025 Q3 2025: $150.6M Q3 2025 Q4 2025: $163.5M Q4 2025 Q1 2026: $168.7M Q1 2026 Q2 2026: $171.3M Q2 2026

Holdings 204 stocks · $133.8M
FTAI Ftai Aviation Ltd. 26.57% 309,066 $35.6M Add +1.1%
CRGY Crescent Energy Inc. Class A 7.82% 1,217,543 $10.5M Add +1.1%
FIP Ftai Infrastructure Inc. 7.53% 1,633,123 $10.1M Add +9.6%
BABA Alibaba Group Holding-SP ADR 3.00% 35,459 $4.0M Reduce -0.7%
T AT&T Inc. 2.93% 135,300 $3.9M Reduce -3.1%
CTRA Coterra Energy Inc. 2.62% 138,141 $3.5M Reduce -0.7%
META Meta Platforms Inc. Class A 2.10% 3,812 $2.8M Reduce -0.5%
NFE New Fortress Energy Inc. 1.93% 778,893 $2.6M Add +3.1%
DINO HF Sinclair Corp. 1.82% 59,280 $2.4M Add +5.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.78% 8,090 $2.4M No change
WBA Walgreens Boots Alliance Inc. 1.75% 203,880 $2.3M No change
ET Energy Transfer LP 1.55% 114,454 $2.1M Add +0.7%
BA The Boeing Co. 1.53% 9,776 $2.0M Reduce -0.5%
PFE Pfizer Inc. 1.49% 82,398 $2.0M Reduce -1.4%
AAPL Apple Inc. 1.37% 8,906 $1.8M Reduce -0.4%
MSFT Microsoft Corp. 1.36% 3,670 $1.8M Reduce -0.4%
AMZN Amazon.com Inc. 1.29% 7,865 $1.7M Reduce -3.4%
XOM Exxon Mobil Corp. 1.29% 16,005 $1.7M No change
PVL Permianville Royalty Trust 1.21% 878,808 $1.6M Reduce -2.6%
FCX Freeport-McMoran Inc. 1.20% 37,110 $1.6M Reduce -2.0%
SBSI Southside Bancshares Inc. 1.20% 54,445 $1.6M Add +30.6%
KMI Kinder Morgan Inc. 1.19% 54,300 $1.6M Reduce -4.4%
MPLX MPLX LP 1.19% 30,823 $1.6M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.15% 12,411 $1.5M Reduce -8.4%
BKD Brookdale Senior Living Inc. 1.07% 205,284 $1.4M Reduce -5.7%
LLY Eli Lilly & Co. 0.93% 1,600 $1.2M Reduce -15.8%
KHC The Kraft Heinz Co. 0.93% 48,298 $1.2M Add +6.9%
BMY Bristol-Myers Squibb Co. 0.87% 25,080 $1.2M Add +9.9%
AKAM Akamai Technologies Inc. 0.81% 13,507 $1.1M No change
MRK Merck & Co. Inc. 0.77% 12,979 $1.0M No change
SHEL Shell PLC-ADR 0.75% 14,310 $1.0M Reduce -19.9%
MCD McDonald's Corp. 0.73% 3,332 $974K No change
JNJ Johnson & Johnson 0.57% 4,979 $761K No change
AMD Advanced Micro Devices 0.45% 4,220 $599K Add +20.7%
CWH Camping World Holdings Inc. Class A 0.43% 33,400 $574K Add +2.6%
PG The Procter & Gamble Co. 0.43% 3,597 $573K No change
CVX Chevron Corp. 0.43% 4,002 $573K No change
MU Micron Technology Inc. 0.40% 4,312 $531K No change
DVN Devon Energy Corp. 0.39% 16,422 $522K No change
PYPL PayPal Holdings Inc. 0.39% 7,006 $521K Reduce -15.1%
TDAY USA Today Co. Inc. filed as GANNETT CO INC 0.38% 142,987 $512K Reduce -2.0%
ADP Automatic Data Processing 0.37% 1,600 $493K No change
GOOGL Alphabet Inc. Class A 0.37% 2,773 $489K Add +68.4%
GOOG Alphabet Inc. Class C 0.32% 2,450 $435K No change
HD Home Depot Inc. 0.32% 1,155 $423K No change
AFL Aflac Inc. 0.32% 4,000 $422K No change
CI The Cigna Group 0.30% 1,200 $397K No change
NVDA Nvidia Corp. 0.29% 2,475 $391K No change
AMLP Alerian MLP ETF 0.29% 7,968 $389K Reduce -0.8%
SJT San Juan Basin Royalty TR 0.29% 63,946 $382K Reduce -76.6%
KRP Kimbell Royalty Partners LP 0.28% 26,726 $373K Reduce -8.6%
C Citigroup Inc. 0.27% 4,295 $366K Reduce -4.5%
DOCU Docusign Inc. 0.27% 4,600 $358K No change
NWL Newell Brands Inc. 0.27% 66,324 $358K Add +0.1%
ORCL Oracle Corp. 0.26% 1,600 $350K No change
NOG Northern Oil and Gas Inc. 0.26% 12,200 $346K Reduce -14.1%
ABBV Abbvie Inc. 0.24% 1,755 $326K No change
PEP Pepsico Inc. 0.24% 2,433 $321K No change
MLI Mueller Industries Inc. 0.24% 4,000 $318K No change
CAT Caterpillar Inc. 0.22% 750 $291K No change
IYH iShares U.S. Healthcare ETF 0.21% 4,920 $278K Add +189.4%
CRM Salesforce Inc. 0.20% 965 $263K Add +672.0%
PAA Plains All Amer Pipeline LP 0.18% 13,233 $242K No change
BRK.B Berkshire Hathaway Inc. Class B 0.17% 477 $232K No change
ABT Abbott Laboratories 0.17% 1,650 $224K No change
BORR Borr Drilling Ltd. 0.16% 120,000 $220K No change
ENVX Enovix Corp. 0.16% 20,700 $214K No change
NEE Nextera Energy Inc. 0.16% 3,000 $208K No change
HON Honeywell International Inc. 0.15% 886 $206K No change
PSA Public Storage 0.15% 700 $205K No change
PATH Uipath Inc. Class A 0.15% 15,700 $201K Add +380.1%
NFLX Netflix Inc. 0.15% 150 $201K No change
MDY State Street SPDR S&P Midcap 0.15% 350 $198K No change
TLT iShares 20+ Year Treasury BD 0.15% 2,200 $194K Reduce -21.4%
UNP Union Pacific Corp. 0.14% 800 $184K No change
MMM 3M Co. 0.13% 1,100 $167K No change
KO The Coca-Cola Co. 0.12% 2,175 $154K No change
METC Ramaco Resources Inc. Class A 0.11% 11,400 $150K Add +208.1%
EMR Emerson Electric Co. 0.11% 1,100 $147K Reduce -1.8%
PAYX Paychex Inc. 0.11% 1,000 $145K No change
TSLA Tesla Inc. 0.10% 424 $135K Reduce -6.8%
VNQ Vanguard Real Estate ETF 0.10% 1,500 $134K No change
LVO Liveone Inc. 0.10% 176,425 $133K No change
MDLZ Mondelez International Inc. Class A 0.10% 1,890 $127K No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.10% 1,030 $127K No change
DE Deere & Co. 0.10% 250 $127K No change
CNDT Conduent Inc. 0.09% 47,820 $126K Add +62.6%
PTEN Patterson-Uti Energy Inc. 0.09% 20,447 $121K No change
JPM JPMorgan Chase & Co. 0.09% 395 $115K No change
FDX FedEx Corp. 0.08% 500 $114K No change
PWR Quanta Services Inc. 0.08% 285 $108K Reduce -9.5%
BX Blackstone Inc. 0.08% 700 $105K No change
TSM Taiwan Semiconductor-SP ADR 0.08% 450 $102K No change
TT Trane Technologies PLC 0.08% 230 $101K Reduce -16.4%
NET Cloudflare Inc. Class A 0.07% 500 $98K No change
IEF iShares 7-10 Year Treasury B 0.07% 1,000 $96K No change
HTZ Hertz Global Hldgs Inc. 0.07% 13,420 $92K No change
SBUX Starbucks Corp. 0.07% 1,000 $92K No change
UL Unilever PLC 0.06% 1,392 $85K No change
V Visa Inc. Class A 0.06% 235 $83K Reduce -14.6%

Show all 204 holdings

Portfolio Sells Q1 2025 → Q2 2025
SJT San Juan Basin Royalty TR Reduce -76.6% 0.29% −0.83
BABA Alibaba Group Holding-SP ADR Reduce -0.7% 3.00% −0.50
CTRA Coterra Energy Inc. Reduce -0.7% 2.62% −0.36
LLY Eli Lilly & Co. Reduce -15.8% 0.93% −0.23
SHEL Shell PLC-ADR Reduce -19.9% 0.75% −0.22
AAPL Apple Inc. Reduce -0.4% 1.37% −0.11
PFE Pfizer Inc. Reduce -1.4% 1.49% −0.08
NOG Northern Oil and Gas Inc. Reduce -14.1% 0.26% −0.06
TLT iShares 20+ Year Treasury BD Reduce -21.4% 0.15% −0.04
B Barrick Mining Corp. Reduce -71.4% 0.02% −0.03
FL Foot Locker Inc. Sold out 0.00% −0.03
KRP Kimbell Royalty Partners LP Reduce -8.6% 0.28% −0.02
AMLP Alerian MLP ETF Reduce -0.8% 0.29% −0.02
EPD Enterprise Products Partners Reduce -16.7% 0.06% −0.02
VOD Vodafone Group PLC-SP ADR Reduce -34.8% 0.05% −0.02
X United States Steel Corp. Sold out 0.00% −0.02
TMUS T-Mobile US Inc. Reduce -9.2% 0.06% −0.01
TMO Thermo Fisher Scientific Inc. Reduce -22.6% 0.02% −0.01
PYPL PayPal Holdings Inc. Reduce -15.1% 0.39% −0.01
WMB Williams Cos Inc. Reduce -48.5% 0.01% −0.01
LMT Lockheed Martin Corp. Sold out 0.00% −0.01
KMI Kinder Morgan Inc. Reduce -4.4% 1.19% −0.01
V Visa Inc. Class A Reduce -14.6% 0.06% −0.01
SPGI S&P Global Inc. Reduce -26.3% 0.03% −0.01
GEN Gen Digital Inc. Reduce -33.3% 0.02% −0.01
SO The Southern Co. Sold out 0.00% −0.01
SSRM SSR Mining Inc. Sold out 0.00% −0.01
LYB Lyondellbasell Indu Class A Reduce -11.6% 0.02% −0.01
ES Eversource Energy Sold out 0.00% −0.01
COST Costco Wholesale Corp. Reduce -16.2% 0.05% −0.01
OXY Occidental Petroleum Corp. Reduce -19.5% 0.01% −0.00
T AT&T Inc. Reduce -3.1% 2.93% −0.00
NXPI NXP Semiconductors NV Reduce -24.2% 0.02% −0.00
ZTS Zoetis Inc. Reduce -6.1% 0.02% −0.00
PODC Podcastone Inc. Reduce -38.4% 0.02% −0.00
IWS iShares Russell Mid-Cap Valu Reduce -16.7% 0.01% −0.00
SHOP Shopify Inc. Class A Reduce -20.0% 0.02% −0.00
SRE Sempra Reduce -7.0% 0.02% −0.00
ASML ASML Holding NV-NY Reg SHS Reduce -9.1% 0.04% +0.00
TT Trane Technologies PLC Reduce -16.4% 0.08% +0.01
TSLA Tesla Inc. Reduce -6.8% 0.10% +0.01
EMR Emerson Electric Co. Reduce -1.8% 0.11% +0.02
PWR Quanta Services Inc. Reduce -9.5% 0.08% +0.02
C Citigroup Inc. Reduce -4.5% 0.27% +0.04
BKD Brookdale Senior Living Inc. Reduce -5.7% 1.07% +0.06
TDAY USA Today Co. Inc. Reduce -2.0% 0.38% +0.07
FCX Freeport-McMoran Inc. Reduce -2.0% 1.20% +0.14
AMZN Amazon.com Inc. Reduce -3.4% 1.29% +0.14
DIS The Walt Disney Co. Reduce -8.4% 1.15% +0.16
PVL Permianville Royalty Trust Reduce -2.6% 1.21% +0.17

Portfolio Buys Q1 2025 → Q2 2025
FIP Ftai Infrastructure Inc. Add +9.6% 7.53% +2.52
FTAI Ftai Aviation Ltd. Add +1.1% 26.57% +1.38
DINO HF Sinclair Corp. Add +5.4% 1.82% +0.45
SBSI Southside Bancshares Inc. Add +30.6% 1.20% +0.30
AMD Advanced Micro Devices Add +20.7% 0.45% +0.18
GOOGL Alphabet Inc. Class A Add +68.4% 0.37% +0.18
CRM Salesforce Inc. Add +672.0% 0.20% +0.17
IYH iShares U.S. Healthcare ETF Add +189.4% 0.21% +0.13
PATH Uipath Inc. Class A Add +380.1% 0.15% +0.13
METC Ramaco Resources Inc. Class A Add +208.1% 0.11% +0.09
OKTA Okta Inc. New 0.04% +0.04
CWH Camping World Holdings Inc. Class A Add +2.6% 0.43% +0.04
CNDT Conduent Inc. Add +62.6% 0.09% +0.04
IWM iShares Russell 2000 ETF New 0.02% +0.02
SPY SS SPDR S&P 500 ETF Trust-US New 0.02% +0.02
ADBE Adobe Inc. Add +16.7% 0.04% +0.01
GPC Genuine Parts Co. Add +150.0% 0.01% +0.01
PL Planet Labs PBC Add +50.0% 0.01% +0.00
METCB Ramaco Resources Inc. Class B Add +30.5% 0.00% +0.00
ET Energy Transfer LP Add +0.7% 1.55% −0.02
NWL Newell Brands Inc. Add +0.1% 0.27% −0.04
KHC The Kraft Heinz Co. Add +6.9% 0.93% −0.09
BMY Bristol-Myers Squibb Co. Add +9.9% 0.87% −0.16
CRGY Crescent Energy Inc. Class A Add +1.1% 7.82% −2.22
NFE New Fortress Energy Inc. Add +3.1% 1.93% −2.73

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 181$171.3MFTAI, CRGY, FIP, DVN, DINO
Q1 2026 185$168.7MFTAI, CRGY, FIP, CTRA, BABA
Q4 2025 202$163.5MFTAI, CRGY, FIP, BABA, CTRA
Q3 2025 200$150.6MFTAI, CRGY, FIP, BABA, T
Q2 2025 204$133.8MFTAI, CRGY, FIP, BABA, T
Q1 2025 207$134.8MFTAI, CRGY, FIP, NFE, BABA
Q4 2024 224$152.5MFTAI, CRGY, NFE, FIP, CTRA
Q3 2024 221$141.1MFTAI, CRGY, FIP, BABA, CTRA
Q2 2024 231$140.9MFTAI, CRGY, FIP, CTRA, T
Q1 2024 254$136.6MFTAI, CRGY, FIP, CTRA, WBA