Spark Investment Management LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Spark Investment Management LLC reported 23 stock positions worth $36.5 million. Its top holding was Amazon.com (AMZN) at 26.0% of the portfolio, followed by Spotify Technology (SPOT, 14.7%) and Celestica (CLS, 9.9%). Compared with Q1 2025, it opened 8 new positions, sold out of 3, added to 2 and reduced 4. The biggest buy was a new position in Triple Flag Precious Met (TFPM) and the biggest sale Enerflex (EFXT, shares −92%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001554871
- Portfolio Value
- $36.5M (Q2 2025)
- SEC Filing
- 0000899140-25-000906 ↗ filed Aug 11, 2025
Holdings Value
Holdings 23 stocks · $36.5M
| AMZN Amazon.com Inc. | 25.97% | 43,180 | $9.5M | No change |
| SPOT Spotify Technology SA | 14.73% | 7,000 | $5.4M | No change |
| CLS Celestica Inc. | 9.86% | 23,000 | $3.6M | Add +15.0% |
| TFPM Triple Flag Precious Met | 7.03% | 108,000 | $2.6M | New |
| NVDA Nvidia Corp. | 5.89% | 13,600 | $2.1M | Reduce -12.8% |
| TSLA Tesla Inc. | 5.23% | 6,000 | $1.9M | No change |
| MNDY Monday.com Ltd. | 5.09% | 5,900 | $1.9M | No change |
| KGC Kinross Gold Corp. | 4.20% | 98,000 | $1.5M | Add +46.3% |
| AGI Alamos Gold Inc. Class A | 4.09% | 56,000 | $1.5M | Reduce -39.1% |
| ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW | 3.06% | 111,000 | $1.1M | Reduce -52.4% |
| SAND Sandstorm Gold Ltd. | 2.86% | 111,000 | $1.0M | New |
| ASM Avino Silver & Gold Mines | 1.92% | 194,000 | $699K | New |
| TWLO Twilio Inc. Class A | 1.77% | 5,200 | $647K | No change |
| BIRD Smartbird Inc. filed as ALLBIRDS INC | 1.68% | 57,634 | $613K | No change |
| XYZ Block Inc. | 1.62% | 8,700 | $591K | No change |
| GOOS Canada Goose Holdings Inc. | 1.26% | 41,000 | $459K | No change |
| MAG Mag Silver Corp. | 1.17% | 20,000 | $425K | New |
| HBM Hudbay Minerals Inc. | 0.73% | 25,000 | $265K | New |
| NGD New Gold Inc. | 0.65% | 48,000 | $239K | New |
| NAK Northern Dynasty Minerals | 0.51% | 137,000 | $185K | New |
| EFXT Enerflex Ltd. | 0.48% | 22,000 | $174K | Reduce -92.1% |
| FOSL Fossil Group Inc. | 0.23% | 55,900 | $83K | No change |
| SVA Sinovac Biotech Ltd. | 0.00% | 29,100 | $0 | New |
Portfolio Sells Q1 2025 → Q2 2025
| EFXT Enerflex Ltd. | Reduce -92.1% | 0.48% | −6.89 |
| ORLA Orla Mining Ltd. | Reduce -52.4% | 3.06% | −4.35 |
| AGI Alamos Gold Inc. Class A | Reduce -39.1% | 4.09% | −4.29 |
| GIL Gildan Activewear Inc. | Sold out | 0.00% | −3.31 |
| CNL Collective Mining Ltd. | Sold out | 0.00% | −1.52 |
| BTE Baytex Energy Corp. | Sold out | 0.00% | −0.79 |
| NVDA Nvidia Corp. | Reduce -12.8% | 5.89% | +0.13 |
Portfolio Buys Q1 2025 → Q2 2025
| TFPM Triple Flag Precious Met | New | 7.03% | +7.03 |
| CLS Celestica Inc. | Add +15.0% | 9.86% | +4.48 |
| SAND Sandstorm Gold Ltd. | New | 2.86% | +2.86 |
| ASM Avino Silver & Gold Mines | New | 1.92% | +1.92 |
| KGC Kinross Gold Corp. | Add +46.3% | 4.20% | +1.33 |
| MAG Mag Silver Corp. | New | 1.17% | +1.17 |
| HBM Hudbay Minerals Inc. | New | 0.73% | +0.73 |
| NGD New Gold Inc. | New | 0.65% | +0.65 |
| NAK Northern Dynasty Minerals | New | 0.51% | +0.51 |
| SVA Sinovac Biotech Ltd. | New | 0.00% | 0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 72 | $51.2M | AMZN, BB, SPOT, TSLA, CGAU |
| Q1 2026 | 28 | $41.6M | AMZN, VET, SPOT, CGAU, PDS |
| Q4 2025 | 27 | $40.2M | AMZN, SPOT, TSLA, CLS, NGD |
| Q3 2025 | 20 | $39.8M | AMZN, CLS, SPOT, TFPM, TSLA |
| Q2 2025 | 23 | $36.5M | AMZN, SPOT, CLS, TFPM, NVDA |
| Q1 2025 | 18 | $29.4M | AMZN, SPOT, AGI, ORLA, EFXT |
| Q4 2024 | 8 | $20.6M | AMZN, SPOT, NVDA, TSLA, MNDY |
| Q3 2024 | 9 | $17.4M | AMZN, SPOT, MNDY, TSLA, XYZ |
| Q2 2024 | 11 | $16.7M | AMZN, SPOT, MNDY, TSLA, XYZ |
| Q1 2024 | 13 | $18.1M | AMZN, SPOT, MNDY, JILL, GBTC |