In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Riposte Capital LLC reported 19 stock positions worth $200.6 million . Its top holding was Birkenstock at 7.4% of the portfolio, followed by First Citizens Bcshs Class A (FCNCA, 7.3% ) and Jones Lang Lasalle (JLL, 7.0% ). Compared with Q1 2025, it opened 7 new positions, sold out of 5, added to 5 and reduced 6. The biggest buy was a new position in Birkenstock and the biggest sale an exit from BP PLC-Spons ADR (BP).
Location NEW YORK, NY
CIK 0001672355
Portfolio Value $200.6M (Q2 2025) Holdings 19 stocks · $200.6M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2025 BIRKENSTOCK HOLDING PLC 300,000 $14.8M New FCNCA First Citizens Bcshs Class A 7,500 $14.7M Add +25.0% JLL Jones Lang Lasalle Inc. 55,000 $14.1M New EXE Expand Energy Corp. 120,000 $14.0M New CCL Carnival Corp. 450,000 $12.7M New DELTA AIR LINES INC DEL 250,000 $12.3M New CNM Core & Main Inc. Class A 200,000 $12.1M New SPOT Spotify Technology SA 15,000 $11.5M No change SN Sharkninja Inc. 115,000 $11.4M Add +53.3% URBN Urban Outfitters Inc. 150,000 $10.9M New VIK Viking Holdings Ltd. 200,000 $10.7M Add +100.0% CEG Constellation Energy 30,000 $9.7M Reduce -50.0% CP Canadian Pacific Kansas City 115,000 $9.1M Add +27.8% VRT Vertiv Holdings Co. Class A 70,000 $9.0M Reduce -58.8% VST Vistra Corp. 40,000 $7.8M Reduce -60.0% ACGL Arch Capital Group Ltd. 75,000 $6.8M Reduce -40.0% NEXT Nextdecade Corp. 750,000 $6.7M Reduce -11.8% GTLS Chart Industries Inc. 40,000 $6.6M Add +14.3% CRGY Crescent Energy Inc. Class A 700,000 $6.0M Reduce -12.5%
Options reported separately and not counted above: STATE STR SPDR S&P 500 ETF T puts ($154.5M), INVESCO QQQ TR puts ($137.9M), ISHARES TR puts ($64.7M), NVIDIA CORPORATION calls ($31.6M), BIRKENSTOCK HOLDING PLC calls ($22.1M), CITIZENS INC puts ($8.9M), HIGHPEAK ENERGY INC puts ($6.9M), UNITY SOFTWARE INC calls ($4.8M).
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ BP BP PLC-Spons ADR Sold out 0.00% −12.94 EA Electronic Arts Inc. Sold out 0.00% −6.92 BIRK Birkenstock Holding PLC Sold out 0.00% −5.85 EQT Eqt Corp. Sold out 0.00% −4.94 ACGL Arch Capital Group Ltd. Reduce -40.0% 3.40% −4.27 VST Vistra Corp. Reduce -60.0% 3.86% −3.63 VRT Vertiv Holdings Co. Class A Reduce -58.8% 4.48% −3.35 CEG Constellation Energy Reduce -50.0% 4.83% −2.89 CRGY Crescent Energy Inc. Class A Reduce -12.5% 3.00% −2.74 ONON On Holding AG Class A Sold out 0.00% −2.52 NEXT Nextdecade Corp. Reduce -11.8% 3.33% −0.89
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ BIRKENSTOCK HOLDING PLC New 7.35% +7.35 JLL Jones Lang Lasalle Inc. New 7.01% +7.01 EXE Expand Energy Corp. New 6.99% +6.99 CCL Carnival Corp. New 6.31% +6.31 DELTA AIR LINES INC DEL New 6.13% +6.13 CNM Core & Main Inc. Class A New 6.02% +6.02 URBN Urban Outfitters Inc. New 5.42% +5.42 VIK Viking Holdings Ltd. Add +100.0% 5.31% +2.78 SN Sharkninja Inc. Add +53.3% 5.67% +1.68 CP Canadian Pacific Kansas City Add +27.8% 4.54% +0.51 FCNCA First Citizens Bcshs Class A Add +25.0% 7.31% +0.21 GTLS Chart Industries Inc. Add +14.3% 3.28% +0.06
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ STATE STR SPDR S&P 500 ETF T put Add +66.7% 250,000 $154.5M ELECTRONIC ARTS INC call Sold out 1,050,000 $151.7Mbefore exit INVESCO QQQ TR put New 250,000 $137.9M INVESCO QQQ TR put Sold out 150,000 $70.3Mbefore exit ISHARES TR put New 300,000 $64.7M BP PLC call Sold out 1,250,000 $42.2Mbefore exit NVIDIA CORPORATION call New 200,000 $31.6M BIRKENSTOCK HOLDING PLC call New 450,000 $22.1M DOLLAR GEN CORP call Sold out 200,000 $17.6Mbefore exit CITIZENS INC put Add +19.2% 2,540,000 $8.9M COMSTOCK RES INC call Sold out 400,000 $8.1Mbefore exit HIGHPEAK ENERGY INC put New 700,000 $6.9M UNITY SOFTWARE INC call New 200,000 $4.8M JD.COM INC call Sold out 100,000 $4.1Mbefore exit VICTORIAS SECRET AND CO call Sold out 150,000 $2.8Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 21 $294.6M MU, RACE, CIEN, ONTO, STM Q1 2026 19 $218.7M MTZ, BIRKENSTOCK HOLDING PLC, QXO INC, B, MU Q4 2025 26 $240.7M GOOGL, FSLR, QXO INC, MU, SN Q3 2025 17 $207.9M VRT, EXE, BIRKENSTOCK HOLDING PLC, ETN, JLL Q2 2025 19 $200.6M BIRKENSTOCK HOLDING PLC, FCNCA, JLL, EXE, CCL Q1 2025 17 $156.7M BP, VRT, CEG, ACGL, VST Q4 2024 19 $189.2M CEG, VST, GTLS, FCNCA, VRT Q3 2024 15 $195.6M CEG, FCNCA, CRGY, VRT, VST Q2 2024 Amended 15 $199.6M SBOW, EQT, UBER, FCNCA, PANW Q1 2024 19 $248.1M SBOW, SN, ERF, SPOT, FCNCA