Spark Investment Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Spark Investment Management LLC reported 27 stock positions worth $40.2 million. Its top holding was Amazon.com (AMZN) at 24.8% of the portfolio, followed by Spotify Technology (SPOT, 10.1%) and Tesla (TSLA, 6.7%). Compared with Q3 2025, it opened 10 new positions, sold out of 3, added to 3 and reduced 4. The biggest buy was a new position in New Gold (NGD) and the biggest sale Celestica (CLS, shares −67%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001554871
- Portfolio Value
- $40.2M (Q4 2025)
- SEC Filing
- 0000899140-26-000156 ↗ filed Feb 11, 2026
Holdings Value
Holdings 27 stocks · $40.2M
| AMZN Amazon.com Inc. | 24.81% | 43,180 | $10.0M | No change |
| SPOT Spotify Technology SA | 10.12% | 7,000 | $4.1M | No change |
| TSLA Tesla Inc. | 6.72% | 6,000 | $2.7M | No change |
| CLS Celestica Inc. | 6.63% | 9,000 | $2.7M | Reduce -66.7% |
| NGD New Gold Inc. | 6.05% | 279,000 | $2.4M | New |
| VET Vermilion Energy Inc. | 5.74% | 277,000 | $2.3M | New |
| KGC Kinross Gold Corp. | 5.61% | 80,000 | $2.3M | Reduce -18.4% |
| TFPM Triple Flag Precious Met | 4.80% | 58,000 | $1.9M | Reduce -46.3% |
| OTEX Open Text Corp. | 4.38% | 54,000 | $1.8M | Add +35.0% |
| DOO BRP Inc./Ca- Sub Voting | 3.34% | 19,000 | $1.3M | New |
| NVDA Nvidia Corp. | 3.20% | 6,900 | $1.3M | Reduce -19.8% |
| LSPD Lightspeed Commerce Inc. | 2.85% | 95,000 | $1.1M | Add +21.8% |
| EFXT Enerflex Ltd. | 2.30% | 60,000 | $925K | New |
| MNDY Monday.com Ltd. | 2.17% | 5,900 | $871K | No change |
| SII Sprott Inc. | 1.95% | 8,000 | $784K | No change |
| TWLO Twilio Inc. Class A | 1.84% | 5,200 | $740K | No change |
| OBE Obsidian Energy Ltd. | 1.48% | 97,000 | $595K | New |
| CGAU Centerra Gold Inc. | 1.47% | 41,000 | $590K | New |
| XYZ Block Inc. | 1.41% | 8,700 | $566K | No change |
| PDS Precision Drilling Corp. | 0.71% | 4,000 | $287K | New |
| SLSR Solaris Resources Inc. | 0.64% | 32,000 | $256K | Add +18.5% |
| BIRD Smartbird Inc. filed as ALLBIRDS INC | 0.59% | 57,634 | $236K | No change |
| FOSL Fossil Group Inc. | 0.52% | 55,900 | $210K | No change |
| GOOS Canada Goose Holdings Inc. | 0.52% | 16,000 | $207K | New |
| HITI High Tide Inc. | 0.11% | 16,000 | $43K | New |
| LGO Largo Inc. | 0.03% | 11,000 | $10K | New |
| SVA Sinovac Biotech Ltd. | 0.00% | 29,100 | $0 | No change |
Portfolio Sells Q3 2025 → Q4 2025
| CLS Celestica Inc. | Reduce -66.7% | 6.63% | −10.06 |
| SAND Sandstorm Gold Ltd. | Sold out | 0.00% | −3.49 |
| TFPM Triple Flag Precious Met | Reduce -46.3% | 4.80% | −3.14 |
| CCJ Cameco Corp. | Sold out | 0.00% | −2.11 |
| ASM Avino Silver & Gold Mines | Sold out | 0.00% | −1.80 |
| NVDA Nvidia Corp. | Reduce -19.8% | 3.20% | −0.83 |
| KGC Kinross Gold Corp. | Reduce -18.4% | 5.61% | −0.50 |
Portfolio Buys Q3 2025 → Q4 2025
| NGD New Gold Inc. | New | 6.05% | +6.05 |
| VET Vermilion Energy Inc. | New | 5.74% | +5.74 |
| DOO BRP Inc./Ca- Sub Voting | New | 3.34% | +3.34 |
| EFXT Enerflex Ltd. | New | 2.30% | +2.30 |
| OBE Obsidian Energy Ltd. | New | 1.48% | +1.48 |
| CGAU Centerra Gold Inc. | New | 1.47% | +1.47 |
| PDS Precision Drilling Corp. | New | 0.71% | +0.71 |
| OTEX Open Text Corp. | Add +35.0% | 4.38% | +0.62 |
| LSPD Lightspeed Commerce Inc. | Add +21.8% | 2.85% | +0.59 |
| GOOS Canada Goose Holdings Inc. | New | 0.52% | +0.52 |
| SLSR Solaris Resources Inc. | Add +18.5% | 0.64% | +0.21 |
| HITI High Tide Inc. | New | 0.11% | +0.11 |
| LGO Largo Inc. | New | 0.03% | +0.03 |
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 |