Progeny 3, Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Progeny 3, Inc. reported 37 stock positions worth $1.9 billion. Its top holding was Cameco (CCJ) at 11.6% of the portfolio, followed by Tic Solutions (TIC, 8.3%) and Interactive Brokers Gro Class A (IBKR, 7.4%). Compared with Q3 2025, it opened 5 new positions, sold out of 2, added to 11 and reduced 5. The biggest buy was a new position in Solstice Adv Materials (SOLS) and the biggest sale an exit from Caesars Entertainment (CZR).
- Most Recent 13F
- Q2 2026
- Location
- KIRKLAND, WA
- CIK
- 0001536006
- Portfolio Value
- $1.9B (Q4 2025)
- SEC Filing
- 0000899140-26-000258 ↗ filed Feb 17, 2026
Holdings Value
Holdings 37 stocks · $1.9B
| CCJ Cameco Corp. | 11.56% | 2,347,131 | $214.7M | Reduce -3.9% |
| TIC Tic Solutions Inc. | 8.29% | 15,231,090 | $154.0M | Reduce -0.2% |
| IBKR Interactive Brokers Gro Class A | 7.37% | 2,129,760 | $137.0M | Add +0.2% |
| APG Api Group Corp. | 7.29% | 3,540,787 | $135.5M | No change |
| SSNC Ss&c Technologies Holdings | 5.30% | 1,125,500 | $98.4M | No change |
| IVV iShares Core S&P 500 ETF | 5.13% | 139,069 | $95.3M | No change |
| GFL GFL Environmental Inc.-Sub VT | 4.72% | 2,042,010 | $87.7M | Add +4.5% |
| ARLP Alliance Resource Partners | 4.10% | 3,282,671 | $76.3M | Add +0.3% |
| PAR Par Technology Corp. | 4.02% | 2,056,308 | $74.6M | Add +18.7% |
| MLM Martin Marietta Materials | 3.79% | 113,150 | $70.5M | No change |
| VOO Vanguard S&P 500 ETF | 3.49% | 103,300 | $64.8M | No change |
| MPLX MPLX LP | 3.04% | 1,058,959 | $56.5M | Reduce -2.2% |
| EPD Enterprise Products Partners | 3.02% | 1,747,306 | $56.0M | Reduce -7.8% |
| DAKT Daktronics Inc. | 2.92% | 2,746,408 | $54.3M | No change |
| TSLX Sixth Street Specialty Lendi | 2.90% | 2,476,398 | $53.8M | No change |
| EQT Eqt Corp. | 2.80% | 971,800 | $52.1M | Add +38.8% |
| AEM Agnico Eagle Mines Ltd. | 2.60% | 284,925 | $48.3M | No change |
| ET Energy Transfer LP | 2.55% | 2,875,485 | $47.4M | Add +2.7% |
| ARCC Ares Capital Corp. | 2.42% | 2,224,728 | $45.0M | Add +4.7% |
| SOLS Solstice Adv Materials Inc. | 1.91% | 731,100 | $35.5M | New |
| NRP Natural Resource Partners LP | 1.76% | 312,523 | $32.6M | No change |
| TLN Talen Energy Corp. | 1.75% | 86,500 | $32.4M | No change |
| PSMT Pricesmart Inc. | 1.52% | 229,600 | $28.2M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 1.44% | 53,239 | $26.8M | No change |
| GPGI Gpgi Inc. filed as COMPOSECURE INC | 1.32% | 1,268,000 | $24.4M | Add +72.0% |
| BXSL Blackstone Secured Lending F | 1.09% | 772,156 | $20.3M | No change |
| SEI Solaris Energy Infrastructur | 0.80% | 322,300 | $14.8M | No change |
| HCC Warrior Met Coal Inc. | 0.26% | 54,235 | $4.8M | No change |
| JKS Jinkosolar Holding Co.-ADR | 0.17% | 119,000 | $3.1M | Add +22.2% |
| DQ Daqo New Energy Corp.-ADR | 0.16% | 103,400 | $3.1M | Add +22.8% |
| BTU Peabody Energy Corp. | 0.14% | 89,160 | $2.6M | Reduce -90.2% |
| ABVX Abivax SA-ADR | 0.09% | 12,240 | $1.7M | No change |
| PRCH Porch Group Inc. | 0.06% | 128,910 | $1.2M | Add +54.0% |
| CRNX Crinetics Pharmaceuticals Inc. | 0.06% | 24,000 | $1.1M | New |
| ASND Ascendis Pharma A/S | 0.06% | 5,230 | $1.1M | New |
| PCVX Vaxcyte Inc. | 0.06% | 23,300 | $1.1M | New |
| QXO Qxo Inc. | 0.06% | 54,500 | $1.1M | New |
Portfolio Sells Q3 2025 → Q4 2025
| CZR Caesars Entertainment Inc. | Sold out | 0.00% | −2.61 |
| TIC Tic Solutions Inc. | Reduce -0.2% | 8.29% | −2.19 |
| AGI Alamos Gold Inc. Class A | Sold out | 0.00% | −1.46 |
| BTU Peabody Energy Corp. | Reduce -90.2% | 0.14% | −1.10 |
| EPD Enterprise Products Partners | Reduce -7.8% | 3.02% | −0.04 |
| MPLX MPLX LP | Reduce -2.2% | 3.04% | +0.25 |
| CCJ Cameco Corp. | Reduce -3.9% | 11.56% | +0.99 |
Portfolio Buys Q3 2025 → Q4 2025
| SOLS Solstice Adv Materials Inc. | New | 1.91% | +1.91 |
| EQT Eqt Corp. | Add +38.8% | 2.80% | +0.84 |
| GPGI Gpgi Inc. | Add +72.0% | 1.32% | +0.52 |
| PAR Par Technology Corp. | Add +18.7% | 4.02% | +0.48 |
| ARCC Ares Capital Corp. | Add +4.7% | 2.42% | +0.18 |
| ET Energy Transfer LP | Add +2.7% | 2.55% | +0.07 |
| CRNX Crinetics Pharmaceuticals Inc. | New | 0.06% | +0.06 |
| ASND Ascendis Pharma A/S | New | 0.06% | +0.06 |
| PCVX Vaxcyte Inc. | New | 0.06% | +0.06 |
| QXO Qxo Inc. | New | 0.06% | +0.06 |
| JKS Jinkosolar Holding Co.-ADR | Add +22.2% | 0.17% | +0.04 |
| DQ Daqo New Energy Corp.-ADR | Add +22.8% | 0.16% | +0.04 |
| PRCH Porch Group Inc. | Add +54.0% | 0.06% | −0.01 |
| GFL GFL Environmental Inc.-Sub VT | Add +4.5% | 4.72% | −0.05 |
| ARLP Alliance Resource Partners | Add +0.3% | 4.10% | −0.17 |
| IBKR Interactive Brokers Gro Class A | Add +0.2% | 7.37% | −0.18 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 29 | $1.9B | CCJ, IBKR, APG, TIC, IVV |
| Q1 2026 | 32 | $1.9B | CCJ, IBKR, APG, TIC, IVV |
| Q4 2025 | 37 | $1.9B | CCJ, TIC, IBKR, APG, SSNC |
| Q3 2025 | 34 | $1.9B | CCJ, TIC, IBKR, APG, SSNC |
| Q2 2025 | 30 | $1.8B | CCJ, TIC, APG, IBKR, PAR |
| Q1 2025 | 30 | $1.5B | TIC, CCJ, APG, GFL, ARLP |
| Q4 2024 | 32 | $1.3B | CCJ, PAR, APG, ARLP, BTU |
| Q3 2024 | 34 | $1.2B | CCJ, BTU, APG, ARLP, PAR |
| Q2 2024Amended | 29 | $1.0B | CCJ, BTU, APG, ARLP, VOO |
| Q1 2024 | 26 | $908.8M | CCJ, BTU, APG, STER, VOO |