Rangeley Capital, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Rangeley Capital, LLC reported 131 stock positions worth $92.2 million. Its top holding was Driven Brands (DRVN) at 8.6% of the portfolio, followed by Prothena (PRTA, 4.7%) and Seaport Entertainment (SEG, 3.6%). Compared with Q4 2025, it opened 43 new positions, sold out of 23, added to 35 and reduced 32. The biggest buy was a new position in Driven Brands (DRVN) and the biggest sale an exit from Golden Entertainment (GDEN).
- Most Recent 13F
- Q2 2026
- Location
- NEW CANAAN, CT
- CIK
- 0001517796
- Portfolio Value
- $92.2M (Q1 2026)
- SEC Filing
- 0001892688-26-000089 ↗ filed May 15, 2026
Holdings Value
Holdings 131 stocks · $92.2M
| DRVN Driven Brands Holdings Inc. | 8.55% | 625,500 | $7.9M | New |
| PRTA Prothena Corp. PLC | 4.74% | 449,460 | $4.4M | Reduce -14.3% |
| SEG Seaport Entertainment Group | 3.58% | 153,517 | $3.3M | No change |
| GRND Grindr Inc. | 3.07% | 234,000 | $2.8M | Add +10.4% |
| DK Delek US Holdings Inc. | 2.93% | 60,000 | $2.7M | Reduce -41.2% |
| ARVN Arvinas Inc. | 2.57% | 223,990 | $2.4M | Reduce -43.4% |
| ABUS Arbutus Biopharma Corp. | 2.44% | 500,000 | $2.3M | Reduce -40.5% |
| ECHO Echostar Corp. Class A | 2.28% | 18,000 | $2.1M | Reduce -25.0% |
| LEG Leggett & Platt Inc. | 2.28% | 213,000 | $2.1M | Add +56.7% |
| STHO Star Holdings filed as STAR HLDGS | 2.25% | 274,072 | $2.1M | Add +46.5% |
| FLL Full House Resorts Inc. filed as FULL HSE RESORTS INC | 2.23% | 915,578 | $2.1M | Add +2.2% |
| TRIP Tripadvisor Inc. | 2.20% | 190,000 | $2.0M | New |
| ONL Orion Properties Inc. | 2.13% | 915,000 | $2.0M | New |
| ICLR Icon PLC | 2.12% | 17,700 | $2.0M | New |
| CLMT Calumet Inc. | 2.06% | 53,000 | $1.9M | Reduce -79.6% |
| GDOT Green Dot Corp. Class A | 1.98% | 162,732 | $1.8M | New |
| KZR Kezar Life Sciences Inc. | 1.96% | 243,073 | $1.8M | Add +182.9% |
| JANX Janux Therapeutics Inc. | 1.85% | 122,500 | $1.7M | Add +382.0% |
| TBPH Theravance Biopharma Inc. | 1.81% | 103,000 | $1.7M | New |
| MCW Mister Car Wash Inc. | 1.67% | 220,500 | $1.5M | New |
| BHF Brighthouse Financial Inc. | 1.62% | 25,000 | $1.5M | No change |
| ZIM Zim Integrated Shipping Serv | 1.57% | 55,000 | $1.4M | Add +34.0% |
| FWRD Forward Air Corp. | 1.54% | 85,000 | $1.4M | Add +11.8% |
| WBD Warner Bros Discovery Inc. | 1.52% | 51,000 | $1.4M | Reduce -76.4% |
| NLOP Net Lease Office Property | 1.43% | 114,870 | $1.3M | Add +67.7% |
| ELME Elme Communities | 1.43% | 658,000 | $1.3M | New |
| RVMD Revolution Medicines Inc. | 1.34% | 66,700 | $1.2M | New |
| BCYC Bicycle Therapeutics PLC-ADR | 1.17% | 232,260 | $1.1M | Add +76.0% |
| SWKH SWK Holdings Corp. filed as SWK HLDGS CORP | 1.16% | 63,000 | $1.1M | No change |
| KW Kennedy-Wilson Holdings Inc. | 1.14% | 97,000 | $1.0M | Reduce -71.6% |
| HOLX Hologic Inc. | 1.07% | 13,000 | $983K | New |
| HGV Hilton Grand Vacations Inc. | 1.06% | 25,000 | $978K | Add +66.7% |
| SEPN Septerna Inc. | 1.04% | 39,800 | $956K | Reduce -39.5% |
| WENN Wen Acquisition Corp. Class A | 0.94% | 85,000 | $865K | Add +35.9% |
| MNRO Monro Inc. | 0.91% | 52,344 | $840K | New |
| KURA Kura Oncology Inc. | 0.89% | 101,220 | $823K | Reduce -1.6% |
| SEM Select Medical Holdings Corp. | 0.88% | 50,000 | $815K | Reduce -38.3% |
| CWAN Clearwater Analytics HDS-A | 0.72% | 28,000 | $662K | Reduce -65.0% |
| DRDB Roman DBDR Acquisition Corp. | 0.68% | 60,000 | $628K | Add +38.9% |
| KROS Keros Therapeutics Inc. | 0.65% | 54,400 | $601K | Reduce -43.8% |
| NVRI Enviri Corp. | 0.60% | 28,000 | $549K | Add +162.5% |
| HEPS D-Market Electronic Serv-ADR | 0.57% | 200,000 | $524K | No change |
| BHR Braemar Hotels & Resorts Inc. | 0.57% | 222,000 | $524K | Add +200.4% |
| GPACU General Purpose Acquisition | 0.54% | 50,000 | $501K | No change |
| ABVX Abivax SA-ADR | 0.48% | 4,000 | $445K | No change |
| GLUE Monte Rosa Therapeutics Inc. | 0.48% | 27,016 | $444K | Reduce -60.0% |
| DSGR Distribution Solutions Group | 0.48% | 16,857 | $442K | New |
| OACC Oaktree Acquisition Corp. I-A | 0.46% | 61,188 | $424K | Add +52.9% |
| CRBP Corbus Pharmaceuticals Holdi | 0.46% | 44,840 | $421K | New |
| GTERU Globa Terra Acquisition Corp. | 0.46% | 40,361 | $420K | No change |
| NWAX.U New America Acquisition I Co. | 0.45% | 40,000 | $414K | No change |
| IMMR Immersion Corporation | 0.44% | 75,000 | $410K | New |
| OKUR Onkure Therapeutics Inc. Class A | 0.43% | 95,000 | $393K | Reduce -34.5% |
| STRS Stratus Properties Inc. | 0.42% | 12,546 | $383K | New |
| YEXT Yext Inc. | 0.41% | 99,328 | $381K | Reduce -83.0% |
| ACET Adicet Bio Inc. | 0.41% | 56,000 | $381K | Add +124.0% |
| LSTA Lisata Therapeutics Inc. | 0.41% | 75,000 | $376K | New |
| LNSR Lensar Inc. | 0.41% | 63,000 | $375K | Add +6.8% |
| IKT Inhibikase Therapeutics Inc. | 0.40% | 220,000 | $370K | New |
| AIV Apartment Invt & Mgmt Co. Class A | 0.40% | 90,000 | $366K | New |
| CNTA Centessa Pharmaceuticals Ltd. | 0.39% | 9,000 | $357K | New |
| EM Smart Share Global Ltd. - ADR | 0.38% | 307,000 | $347K | Reduce -35.6% |
| DMIIU Drugs Made in America Acquis | 0.35% | 55,612 | $327K | Add +70.8% |
| FERA Fifth Era Acquisition Corp. Class A | 0.35% | 30,990 | $319K | Reduce -7.4% |
| SSP Ew Scripps Co./the-A filed as SCRIPPS E W CO OHIO | 0.34% | 85,490 | $318K | New |
| SOC Sable Offshore Corp. | 0.34% | 19,000 | $314K | No change |
| TMQ Trilogy Metals Inc. | 0.34% | 87,000 | $312K | No change |
| SEER Seer Inc. | 0.34% | 184,302 | $310K | Add +821.5% |
| EVC Entravision Communications-A | 0.32% | 100,000 | $297K | Add +11.1% |
| FDMT 4D Molecular Therapeutics Inc. | 0.32% | 31,465 | $293K | Reduce -18.6% |
| PLRX Pliant Therapeutics Inc. | 0.31% | 225,000 | $284K | No change |
| GO Grocery Outlet Holding Corp. | 0.31% | 40,000 | $282K | New |
| OTGAU Otg Acquisition Corp. I | 0.31% | 50,805 | $282K | Add +84.6% |
| PRTH Priority Technology Holdings | 0.30% | 59,000 | $278K | Reduce -3.3% |
| BCARU D Boral Arc Acquisition I Co. | 0.30% | 72,430 | $275K | Add +114.4% |
| RLYB Rallybio Corp. | 0.29% | 30,130 | $270K | Add +502.6% |
| ABEO Abeona Therapeutics Inc. | 0.29% | 60,000 | $269K | Add +4.2% |
| KOYNU CSLM Digital Asset Acquisiti | 0.29% | 48,944 | $265K | Add +87.6% |
| TDAY USA Today Co. Inc. | 0.29% | 37,300 | $263K | Reduce -21.1% |
| AVIR Atea Pharmaceuticals Inc. | 0.27% | 46,500 | $250K | Reduce -41.9% |
| PETS Petmed Express Inc. | 0.27% | 109,208 | $249K | Add +45.6% |
| CDZI Cadiz Inc. | 0.27% | 50,000 | $246K | Reduce -79.9% |
| PACHU Pioneer Acquisition I Corp. | 0.25% | 22,145 | $228K | No change |
| FCRS Futurecrest Acquisition Class A | 0.24% | 40,703 | $222K | New |
| WW WW International Inc.-New filed as WW INTL INC | 0.24% | 16,000 | $220K | Add +33.3% |
| EXEL Exelixis Inc. | 0.23% | 5,000 | $214K | No change |
| QURE Uniqure NV | 0.23% | 13,000 | $213K | Add +52.9% |
| RDAG Republic Digital Acquis Class A | 0.22% | 20,188 | $207K | No change |
| EA Electronic Arts Inc. | 0.22% | 1,000 | $204K | New |
| HVMCU Highview Merger Corp. | 0.22% | 20,000 | $203K | No change |
| EMIS Emmis Acquisition Corp. Class A | 0.20% | 18,107 | $182K | No change |
| FMC FMC Corp. | 0.19% | 10,000 | $172K | New |
| IMA Imagenebio Inc. | 0.18% | 32,590 | $163K | Add +78.6% |
| FACT Fact II Acquisition Corp. | 0.18% | 15,510 | $163K | New |
| IMXI International Money Express | 0.17% | 10,000 | $158K | No change |
| MLAC Mountain Lake Acquisition-A | 0.17% | 15,000 | $158K | New |
| PD Pagerduty Inc. | 0.17% | 25,000 | $155K | New |
| DBRG Digitalbridge Group Inc. | 0.17% | 10,000 | $154K | Reduce -27.5% |
| NKTX Nkarta Inc. | 0.16% | 68,000 | $143K | Add +112.0% |
| SHC Sotera Health Co. | 0.16% | 10,000 | $143K | New |
Options reported separately and not counted above: LQDA puts ($5.7M), LQDA calls ($2.8M), WBD calls ($1.5M), FWRD calls ($336K).
Other holdings (2): bonds, preferreds, convertibles and warrants · $397K (not counted above)
Total filed on the 13F, all lines: $92.6M.
Portfolio Sells Q4 2025 → Q1 2026
| GDEN Golden Entertainment Inc. | Sold out | 0.00% | −4.99 |
| WBD Warner Bros Discovery Inc. | Reduce -76.4% | 1.52% | −3.92 |
| YEXT Yext Inc. | Reduce -83.0% | 0.41% | −3.71 |
| RNAM Avidity Biosciences Inc. | Sold out | 0.00% | −3.40 |
| RPTX Repare Therapeutics Inc. | Sold out | 0.00% | −2.93 |
| TACO Berto Acquisition Corp. | Sold out | 0.00% | −2.57 |
| CLMT Calumet Inc. | Reduce -79.6% | 2.06% | −2.44 |
| PLYM Plymouth Industrial REIT Inc. | Sold out | 0.00% | −2.18 |
| KW Kennedy-Wilson Holdings Inc. | Reduce -71.6% | 1.14% | −1.75 |
| ARVN Arvinas Inc. | Reduce -43.4% | 2.57% | −1.53 |
| MRSN Mersana Therapeutics Inc. | Sold out | 0.00% | −1.44 |
| AVDL Avadel Pharmaceuticals Ltd. | Sold out | 0.00% | −1.43 |
| ABUS Arbutus Biopharma Corp. | Reduce -40.5% | 2.44% | −1.09 |
| KROS Keros Therapeutics Inc. | Reduce -43.8% | 0.65% | −1.07 |
| OMEX Odyssey Marine Exploration | Sold out | 0.00% | −1.04 |
| RGR Sturm Ruger & Co. Inc. | Sold out | 0.00% | −1.00 |
| CWAN Clearwater Analytics HDS-A | Reduce -65.0% | 0.72% | −0.97 |
| CDZI Cadiz Inc. | Reduce -79.9% | 0.27% | −0.95 |
| TGNA Tegna Inc. | Sold out | 0.00% | −0.90 |
| PL Planet Labs PBC | Sold out | 0.00% | −0.69 |
| SEPN Septerna Inc. | Reduce -39.5% | 1.04% | −0.57 |
| GBIO Generation Bio Co. | Sold out | 0.00% | −0.49 |
| KORE Kore Group Holdings Inc. | Sold out | 0.00% | −0.48 |
| GLUE Monte Rosa Therapeutics Inc. | Reduce -60.0% | 0.48% | −0.44 |
| PCAP Procap Acquisition Corp. Class A | Sold out | 0.00% | −0.42 |
| FONR Fonar Corp. | Sold out | 0.00% | −0.41 |
| BUR Burford Capital Ltd. | Reduce -80.0% | 0.06% | −0.40 |
| THS Treehouse Foods Inc. | Sold out | 0.00% | −0.38 |
| NBIS Nebius Group NV | Sold out | 0.00% | −0.29 |
| SEM Select Medical Holdings Corp. | Reduce -38.3% | 0.88% | −0.17 |
| CORZ Core Scientific Inc. | Sold out | 0.00% | −0.13 |
| EM Smart Share Global Ltd. - ADR | Reduce -35.6% | 0.38% | −0.11 |
| PMTR Perimeter Acquis Corp. I Class A | Sold out | 0.00% | −0.09 |
| MCGAU Yorkville Acquisition Corp. | Sold out | 0.00% | −0.09 |
| SHCO Soho House & Co. Inc. | Sold out | 0.00% | −0.08 |
| CCII Cohen Circle Acquisit II - A | Reduce -51.9% | 0.11% | −0.08 |
| ANTX AN2 Therapeutics Inc. | Sold out | 0.00% | −0.06 |
| ANEB Anebulo Pharmaceuticals Inc. | Sold out | 0.00% | −0.04 |
| KURA Kura Oncology Inc. | Reduce -1.6% | 0.89% | −0.04 |
| RZLT Rezolute Inc. | Reduce -48.9% | 0.13% | −0.03 |
| DBRG Digitalbridge Group Inc. | Reduce -27.5% | 0.17% | −0.02 |
| MREO Mereo Biopharma Group PL-ADR | Reduce -9.6% | 0.12% | −0.01 |
| AIFC AI Financial Corp. | Reduce -10.3% | 0.03% | +0.00 |
| ECHO Echostar Corp. Class A | Reduce -25.0% | 2.28% | +0.00 |
| PRTH Priority Technology Holdings | Reduce -3.3% | 0.30% | +0.01 |
| CPAC Cementos Pacasmayo Saa - ADR | Reduce -6.5% | 0.12% | +0.01 |
| HCMA HCM III Acquisition Cor Class A | Reduce -10.8% | 0.14% | +0.01 |
| AVIR Atea Pharmaceuticals Inc. | Reduce -41.9% | 0.27% | +0.02 |
| MGNX Macrogenics Inc. | Reduce -28.9% | 0.07% | +0.02 |
| FERA Fifth Era Acquisition Corp. Class A | Reduce -7.4% | 0.35% | +0.05 |
Portfolio Buys Q4 2025 → Q1 2026
| DRVN Driven Brands Holdings Inc. | New | 8.55% | +8.55 |
| TRIP Tripadvisor Inc. | New | 2.20% | +2.20 |
| ONL Orion Properties Inc. | New | 2.13% | +2.13 |
| ICLR Icon PLC | New | 2.12% | +2.12 |
| GDOT Green Dot Corp. Class A | New | 1.98% | +1.98 |
| TBPH Theravance Biopharma Inc. | New | 1.81% | +1.81 |
| MCW Mister Car Wash Inc. | New | 1.67% | +1.67 |
| JANX Janux Therapeutics Inc. | Add +382.0% | 1.85% | +1.54 |
| KZR Kezar Life Sciences Inc. | Add +182.9% | 1.96% | +1.48 |
| ELME Elme Communities | New | 1.43% | +1.43 |
| RVMD Revolution Medicines Inc. | New | 1.34% | +1.34 |
| HOLX Hologic Inc. | New | 1.07% | +1.07 |
| LEG Leggett & Platt Inc. | Add +56.7% | 2.28% | +0.97 |
| MNRO Monro Inc. | New | 0.91% | +0.91 |
| STHO Star Holdings | Add +46.5% | 2.25% | +0.90 |
| ZIM Zim Integrated Shipping Serv | Add +34.0% | 1.57% | +0.81 |
| GRND Grindr Inc. | Add +10.4% | 3.07% | +0.56 |
| DSGR Distribution Solutions Group | New | 0.48% | +0.48 |
| HGV Hilton Grand Vacations Inc. | Add +66.7% | 1.06% | +0.47 |
| CRBP Corbus Pharmaceuticals Holdi | New | 0.46% | +0.46 |
| IMMR Immersion Corporation | New | 0.44% | +0.44 |
| NVRI Enviri Corp. | Add +162.5% | 0.60% | +0.43 |
| STRS Stratus Properties Inc. | New | 0.42% | +0.42 |
| LSTA Lisata Therapeutics Inc. | New | 0.41% | +0.41 |
| IKT Inhibikase Therapeutics Inc. | New | 0.40% | +0.40 |
| AIV Apartment Invt & Mgmt Co. Class A | New | 0.40% | +0.40 |
| CNTA Centessa Pharmaceuticals Ltd. | New | 0.39% | +0.39 |
| WENN Wen Acquisition Corp. Class A | Add +35.9% | 0.94% | +0.39 |
| BHR Braemar Hotels & Resorts Inc. | Add +200.4% | 0.57% | +0.38 |
| BCYC Bicycle Therapeutics PLC-ADR | Add +76.0% | 1.17% | +0.35 |
| SSP Ew Scripps Co./the-A | New | 0.34% | +0.34 |
| GO Grocery Outlet Holding Corp. | New | 0.31% | +0.31 |
| SEER Seer Inc. | Add +821.5% | 0.34% | +0.30 |
| DRDB Roman DBDR Acquisition Corp. | Add +38.9% | 0.68% | +0.29 |
| RLYB Rallybio Corp. | Add +502.6% | 0.29% | +0.27 |
| FCRS Futurecrest Acquisition Class A | New | 0.24% | +0.24 |
| ACET Adicet Bio Inc. | Add +124.0% | 0.41% | +0.23 |
| EA Electronic Arts Inc. | New | 0.22% | +0.22 |
| FLL Full House Resorts Inc. | Add +2.2% | 2.23% | +0.19 |
| FMC FMC Corp. | New | 0.19% | +0.19 |
| FACT Fact II Acquisition Corp. | New | 0.18% | +0.18 |
| MLAC Mountain Lake Acquisition-A | New | 0.17% | +0.17 |
| PD Pagerduty Inc. | New | 0.17% | +0.17 |
| SHC Sotera Health Co. | New | 0.16% | +0.16 |
| RTAC Renatus Tactical Acquisiti-A | New | 0.14% | +0.14 |
| DDL Dingdong Cayman Ltd. -SPN ADR | New | 0.14% | +0.14 |
| TWO Two Harbors Investment Corp. | New | 0.12% | +0.12 |
| SZZL Sizzle Acquisition Corp. Class A | New | 0.11% | +0.11 |
| KYIV Kyivstar Group Ltd. | New | 0.11% | +0.11 |
| NKTX Nkarta Inc. | Add +112.0% | 0.16% | +0.10 |
Options Activity Q4 2025 → Q1 2026
| LQDA Liquidia Corp. | put | New | 150,000 | $5.7M |
| LQDA Liquidia Corp. | call | New | 75,000 | $2.8M |
| WBD Warner Bros Discovery Inc. | call | Reduce -9.0% | 53,300 | $1.5M |
| IWM iShares Russell 2000 ETF | put | Sold out | 5,000 | $1.2Mbefore exit |
| BBIO Bridgebio Pharma Inc. | call | Sold out | 5,000 | $382Kbefore exit |
| FWRD Forward Air Corp. | call | Reduce -9.9% | 20,100 | $336K |
| BHF Brighthouse Financial Inc. | call | Sold out | 4,300 | $279Kbefore exit |
| PLYM Plymouth Industrial REIT Inc. | call | Sold out | 6,500 | $142Kbefore exit |
| NVRI Enviri Corp. | call | Sold out | 1,000 | $18Kbefore exit |
| PLYM Plymouth Industrial REIT Inc. | put | Sold out | 100 | $2Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) | 5.5 CUM CV PFD B | Sold out | 17,245 | $255Kbefore exit |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 | Reduce -71.8% | 27,200 | $238K |
| TACOW Berto Acquisition Corp. - 30 | *W EXP 05/01/203 | New | 15,500 | $159K |
| EMISR Emmis Acquisition Corp. | RIGHT 09/12/2030 | Sold out | 18,107 | $18Kbefore exit |
| MLACR Mountain Lake Acquisition Co. | RIGHT 11/15/2028 | Sold out | 15,000 | $16Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 170 | $101.7M | DRVN, PRTA, SEG, GRND, STHO |
| Q1 2026 | 131 | $92.2M | DRVN, PRTA, SEG, GRND, DK |
| Q4 2025 | 111 | $114.4M | WBD, GDEN, CLMT, PRTA, YEXT |
| Q3 2025 | 119 | $104.0M | DK, CLMT, ARVN, PRTA, WOW |
| Q2 2025 | 68 | $76.9M | SAGE, DK, ARVN, CLMT, PRTA |
| Q1 2025 | 69 | $87.4M | CLMT, DK, ABUS, BUR, AMPY |
| Q4 2024 | 70 | $103.7M | CLMT, AMPY, DK, BUR, NLOP |