Pingora Partners LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Pingora Partners LLC reported 200 stock positions worth $150.6 million. Its top holding was Ftai Aviation (FTAI) at 34.0% of the portfolio, followed by Crescent Energy Class A (CRGY, 7.2%) and Ftai Infrastructure (FIP, 5.0%). Compared with Q2 2025, it opened 4 new positions, sold out of 8, added to 18 and reduced 38. The biggest buy was a new position in Cisco Systems (CSCO) and the biggest sale an exit from Walgreens Boots Alliance (WBA).

Most Recent 13F
Q2 2026
Location
WILSON, WY
CIK
0002011176
Portfolio Value
$150.6M (Q3 2025)
SEC Filing
0002011176-25-000007 ↗ filed Nov 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 Q2 2025 Q3 2025: $150.6M $150.6M Q3 2025 Q4 2025: $163.5M Q4 2025 Q1 2026: $168.7M Q1 2026 Q2 2026: $171.3M Q2 2026

Holdings 200 stocks · $150.6M
FTAI Ftai Aviation Ltd. 34.04% 307,166 $51.3M Reduce -0.6%
CRGY Crescent Energy Inc. Class A 7.18% 1,212,893 $10.8M Reduce -0.4%
FIP Ftai Infrastructure Inc. 4.97% 1,716,173 $7.5M Add +5.1%
BABA Alibaba Group Holding-SP ADR 4.11% 34,656 $6.2M Reduce -2.3%
T AT&T Inc. 2.44% 130,325 $3.7M Reduce -3.7%
CTRA Coterra Energy Inc. 2.16% 137,566 $3.3M Reduce -0.4%
DINO HF Sinclair Corp. 2.03% 58,280 $3.1M Reduce -1.7%
META Meta Platforms Inc. Class A 1.83% 3,745 $2.8M Reduce -1.8%
ET Energy Transfer LP 1.79% 157,254 $2.7M Add +37.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.52% 8,090 $2.3M No change
AAPL Apple Inc. 1.51% 8,901 $2.3M Reduce -0.1%
BA The Boeing Co. 1.39% 9,676 $2.1M Reduce -1.0%
PFE Pfizer Inc. 1.37% 81,168 $2.1M Reduce -1.5%
MSFT Microsoft Corp. 1.26% 3,670 $1.9M No change
XOM Exxon Mobil Corp. 1.20% 16,005 $1.8M No change
NFE New Fortress Energy Inc. 1.16% 788,593 $1.7M Add +1.3%
BKD Brookdale Senior Living Inc. 1.15% 204,689 $1.7M Reduce -0.3%
AMZN Amazon.com Inc. 1.15% 7,855 $1.7M Reduce -0.1%
FCX Freeport-McMoran Inc. 1.10% 42,190 $1.7M Add +13.7%
PVL Permianville Royalty Trust 1.09% 909,024 $1.6M Add +3.4%
MPLX MPLX LP 1.02% 30,823 $1.5M No change
KMI Kinder Morgan Inc. 1.01% 53,900 $1.5M Reduce -0.7%
SBSI Southside Bancshares Inc. 1.01% 53,845 $1.5M Reduce -1.1%
KHC The Kraft Heinz Co. 0.96% 55,438 $1.4M Add +14.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.91% 11,941 $1.4M Reduce -3.8%
LLY Eli Lilly & Co. 0.86% 1,700 $1.3M Add +6.3%
CSCO Cisco Systems Inc. 0.80% 17,645 $1.2M New
BMY Bristol-Myers Squibb Co. 0.78% 26,180 $1.2M Add +4.4%
MRK Merck & Co. Inc. 0.72% 12,979 $1.1M No change
TDAY USA Today Co. Inc. filed as GANNETT CO INC 0.68% 249,737 $1.0M Add +74.7%
MCD McDonald's Corp. 0.67% 3,332 $1.0M No change
AKAM Akamai Technologies Inc. 0.65% 12,957 $982K Reduce -4.1%
JNJ Johnson & Johnson 0.61% 4,979 $923K No change
SHEL Shell PLC-ADR 0.54% 11,425 $817K Reduce -20.2%
MU Micron Technology Inc. 0.47% 4,243 $710K Reduce -1.6%
GOOGL Alphabet Inc. Class A 0.45% 2,773 $674K No change
CVX Chevron Corp. 0.40% 3,902 $606K Reduce -2.5%
GOOG Alphabet Inc. Class C 0.40% 2,450 $597K No change
DVN Devon Energy Corp. 0.38% 16,422 $576K No change
CWH Camping World Holdings Inc. Class A 0.38% 36,200 $572K Add +8.4%
PG The Procter & Gamble Co. 0.37% 3,597 $553K No change
ADP Automatic Data Processing 0.31% 1,600 $470K No change
HD Home Depot Inc. 0.31% 1,155 $468K No change
NVDA Nvidia Corp. 0.31% 2,475 $462K No change
ORCL Oracle Corp. 0.30% 1,600 $450K No change
AFL Aflac Inc. 0.30% 4,000 $447K No change
BORR Borr Drilling Ltd. 0.29% 160,000 $430K Add +33.3%
C Citigroup Inc. 0.28% 4,100 $416K Reduce -4.5%
METC Ramaco Resources Inc. Class A 0.27% 12,300 $408K Add +7.9%
ABBV Abbvie Inc. 0.27% 1,755 $406K No change
MLI Mueller Industries Inc. 0.27% 4,000 $404K No change
PYPL PayPal Holdings Inc. 0.26% 5,814 $390K Reduce -17.0%
SJT San Juan Basin Royalty TR 0.26% 63,946 $386K No change
IYH iShares U.S. Healthcare ETF 0.25% 6,522 $383K Add +32.6%
AMLP Alerian MLP ETF 0.25% 7,968 $374K No change
KRP Kimbell Royalty Partners LP 0.24% 26,726 $361K No change
CAT Caterpillar Inc. 0.24% 750 $358K No change
CI The Cigna Group 0.23% 1,200 $346K No change
PEP Pepsico Inc. 0.23% 2,433 $342K No change
NWL Newell Brands Inc. 0.22% 62,824 $329K Reduce -5.3%
DOCU Docusign Inc. 0.21% 4,300 $310K Reduce -6.5%
PATH Uipath Inc. Class A 0.20% 22,700 $304K Add +44.6%
AMD Advanced Micro Devices 0.20% 1,820 $294K Reduce -56.9%
NOG Northern Oil and Gas Inc. 0.18% 10,700 $265K Reduce -12.3%
BRK.B Berkshire Hathaway Inc. Class B 0.16% 477 $240K No change
NEE Nextera Energy Inc. 0.15% 3,000 $226K No change
ABT Abbott Laboratories 0.15% 1,650 $221K No change
PAA Plains All Amer Pipeline LP 0.14% 12,033 $205K Reduce -9.1%
PSA Public Storage 0.13% 700 $202K No change
UNP Union Pacific Corp. 0.13% 800 $189K No change
TLT iShares 20+ Year Treasury BD 0.12% 2,100 $188K Reduce -4.5%
HON Honeywell International Inc. 0.12% 886 $187K No change
ENVX Enovix Corp. 0.12% 18,699 $186K Reduce -9.7%
TSLA Tesla Inc. 0.12% 410 $182K Reduce -3.3%
CRM Salesforce Inc. 0.12% 765 $181K Reduce -20.7%
NFLX Netflix Inc. 0.12% 150 $180K No change
MDY State Street SPDR S&P Midcap 0.12% 300 $179K Reduce -14.3%
MMM 3M Co. 0.11% 1,100 $171K No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.10% 1,030 $149K No change
EMR Emerson Electric Co. 0.10% 1,100 $144K No change
KO The Coca-Cola Co. 0.10% 2,175 $144K No change
VNQ Vanguard Real Estate ETF 0.09% 1,500 $137K No change
CNDT Conduent Inc. 0.09% 47,620 $133K Reduce -0.4%
PAYX Paychex Inc. 0.08% 1,000 $127K No change
TSM Taiwan Semiconductor-SP ADR 0.08% 450 $126K No change
HTZ Hertz Global Hldgs Inc. 0.08% 18,420 $125K Add +37.3%
JPM JPMorgan Chase & Co. 0.08% 395 $125K No change
PWR Quanta Services Inc. 0.08% 285 $118K No change
MDLZ Mondelez International Inc. Class A 0.08% 1,890 $118K No change
FDX FedEx Corp. 0.08% 500 $118K No change
BX Blackstone Inc. 0.08% 680 $116K Reduce -2.9%
DE Deere & Co. 0.08% 250 $114K No change
NET Cloudflare Inc. Class A 0.07% 500 $107K No change
PTEN Patterson-Uti Energy Inc. 0.07% 20,447 $106K No change
TT Trane Technologies PLC 0.06% 230 $97K No change
IEF iShares 7-10 Year Treasury B 0.06% 1,000 $96K No change
SLV iShares Silver Trust 0.06% 2,000 $85K No change
PFG Principal Financial Group 0.06% 1,000 $83K No change
TMUS T-Mobile US Inc. 0.05% 345 $83K No change
UL Unilever PLC 0.05% 1,392 $83K No change

Show all 200 holdings

Portfolio Sells Q2 2025 → Q3 2025
WBA Walgreens Boots Alliance Inc. Sold out 0.00% −1.75
CRGY Crescent Energy Inc. Class A Reduce -0.4% 7.18% −0.64
T AT&T Inc. Reduce -3.7% 2.44% −0.48
CTRA Coterra Energy Inc. Reduce -0.4% 2.16% −0.46
META Meta Platforms Inc. Class A Reduce -1.8% 1.83% −0.28
AMD Advanced Micro Devices Reduce -56.9% 0.20% −0.25
DIS The Walt Disney Co. Reduce -3.8% 0.91% −0.24
SHEL Shell PLC-ADR Reduce -20.2% 0.54% −0.21
SBSI Southside Bancshares Inc. Reduce -1.1% 1.01% −0.19
KMI Kinder Morgan Inc. Reduce -0.7% 1.01% −0.18
AKAM Akamai Technologies Inc. Reduce -4.1% 0.65% −0.15
AMZN Amazon.com Inc. Reduce -0.1% 1.15% −0.14
BA The Boeing Co. Reduce -1.0% 1.39% −0.14
PYPL PayPal Holdings Inc. Reduce -17.0% 0.26% −0.13
PFE Pfizer Inc. Reduce -1.5% 1.37% −0.12
NOG Northern Oil and Gas Inc. Reduce -12.3% 0.18% −0.08
CRM Salesforce Inc. Reduce -20.7% 0.12% −0.08
SBUX Starbucks Corp. Sold out 0.00% −0.07
DOCU Docusign Inc. Reduce -6.5% 0.21% −0.06
NWL Newell Brands Inc. Reduce -5.3% 0.22% −0.05
PAA Plains All Amer Pipeline LP Reduce -9.1% 0.14% −0.04
ENVX Enovix Corp. Reduce -9.7% 0.12% −0.04
MDY State Street SPDR S&P Midcap Reduce -14.3% 0.12% −0.03
CVX Chevron Corp. Reduce -2.5% 0.40% −0.03
IWM iShares Russell 2000 ETF Sold out 0.00% −0.02
SPY SS SPDR S&P 500 ETF Trust-US Sold out 0.00% −0.02
INTC Intel Corp. Reduce -59.4% 0.03% −0.02
TLT iShares 20+ Year Treasury BD Reduce -4.5% 0.12% −0.02
PODC Podcastone Inc. Reduce -36.9% 0.01% −0.01
WBD Warner Bros Discovery Inc. Sold out 0.00% −0.01
GEN Gen Digital Inc. Reduce -20.0% 0.02% −0.01
CNDT Conduent Inc. Reduce -0.4% 0.09% −0.01
PRPL Purple Innovation Inc. Sold out 0.00% −0.00
WHR Whirlpool Corp. Sold out 0.00% −0.00
PL Planet Labs PBC Reduce -66.7% 0.00% −0.00
XLE SS Energy Select Sector Sold out 0.00% −0.00
BX Blackstone Inc. Reduce -2.9% 0.08% −0.00
ASPS Altisource Portfolio Sol Reduce -15.2% 0.03% +0.00
C Citigroup Inc. Reduce -4.5% 0.28% +0.00
TSLA Tesla Inc. Reduce -3.3% 0.12% +0.02
MU Micron Technology Inc. Reduce -1.6% 0.47% +0.07
BKD Brookdale Senior Living Inc. Reduce -0.3% 1.15% +0.08
AAPL Apple Inc. Reduce -0.1% 1.51% +0.14
DINO HF Sinclair Corp. Reduce -1.7% 2.03% +0.21
BABA Alibaba Group Holding-SP ADR Reduce -2.3% 4.11% +1.11
FTAI Ftai Aviation Ltd. Reduce -0.6% 34.04% +7.47

Portfolio Buys Q2 2025 → Q3 2025
CSCO Cisco Systems Inc. New 0.80% +0.80
TDAY USA Today Co. Inc. Add +74.7% 0.68% +0.30
ET Energy Transfer LP Add +37.4% 1.79% +0.24
METC Ramaco Resources Inc. Class A Add +7.9% 0.27% +0.16
BORR Borr Drilling Ltd. Add +33.3% 0.29% +0.12
PATH Uipath Inc. Class A Add +44.6% 0.20% +0.05
IYH iShares U.S. Healthcare ETF Add +32.6% 0.25% +0.05
BKH Black Hills Corp. New 0.04% +0.04
KHC The Kraft Heinz Co. Add +14.8% 0.96% +0.03
CIVI Civitas Resources Inc. New 0.02% +0.02
HTZ Hertz Global Hldgs Inc. Add +37.3% 0.08% +0.01
OXY Occidental Petroleum Corp. Add +112.1% 0.02% +0.01
GIS General Mills Inc. Add +29.0% 0.03% +0.00
SSYS Stratasys Ltd. New 0.00% +0.00
ADBE Adobe Inc. Add +7.1% 0.04% −0.01
CWH Camping World Holdings Inc. Class A Add +8.4% 0.38% −0.05
LLY Eli Lilly & Co. Add +6.3% 0.86% −0.07
BMY Bristol-Myers Squibb Co. Add +4.4% 0.78% −0.08
FCX Freeport-McMoran Inc. Add +13.7% 1.10% −0.10
PVL Permianville Royalty Trust Add +3.4% 1.09% −0.12
NFE New Fortress Energy Inc. Add +1.3% 1.16% −0.77
FIP Ftai Infrastructure Inc. Add +5.1% 4.97% −2.56

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