TFJ Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), TFJ Management, LLC reported 10 stock positions worth $148.4 million. Its top holding was AppLovin Class A (APP) at 26.4% of the portfolio, followed by Coupang (CPNG, 16.9%) and Openlane (OPLN, 12.0%). Compared with Q2 2025, it opened 1 new position, sold out of 3, added to 5 and reduced 1. The biggest buy was a new position in Clearwater Analytics HDS-A (CWAN) and the biggest sale an exit from Airbnb Class A (ABNB).
- Most Recent 13F
- Q2 2026
- Location
- SOMERVILLE, MA
- CIK
- 0002056069
- Portfolio Value
- $148.4M (Q3 2025)
- SEC Filing
- 0002056069-25-000006 ↗ filed Nov 13, 2025
Holdings Value
Holdings 10 stocks · $148.4M
| APP AppLovin Corp. Class A | 26.38% | 54,488 | $39.2M | Reduce -30.0% |
| CPNG Coupang Inc. | 16.93% | 780,600 | $25.1M | No change |
| OPLN Openlane Inc. | 11.99% | 618,348 | $17.8M | No change |
| CCC CCC Intelligent Solutions Ho | 8.39% | 1,367,578 | $12.5M | Add +76.8% |
| HGV Hilton Grand Vacations Inc. | 7.50% | 266,171 | $11.1M | Add +17.1% |
| ACVA Acv Auctions Inc. Class A | 7.04% | 1,054,958 | $10.5M | Add +50.2% |
| GTLB Gitlab Inc. Class A | 6.72% | 221,259 | $10.0M | Add +111.2% |
| APPF Appfolio Inc. Class A | 6.32% | 34,030 | $9.4M | No change |
| RSKD Riskified Ltd. Class A | 4.40% | 1,394,074 | $6.5M | Add +31.7% |
| CWAN Clearwater Analytics HDS-A | 4.33% | 357,043 | $6.4M | New |
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
| CWAN Clearwater Analytics HDS-A | New | 4.33% | +4.33 |
| GTLB Gitlab Inc. Class A | Add +111.2% | 6.72% | +3.03 |
| CCC CCC Intelligent Solutions Ho | Add +76.8% | 8.39% | +2.71 |
| RSKD Riskified Ltd. Class A | Add +31.7% | 4.40% | +0.27 |
| HGV Hilton Grand Vacations Inc. | Add +17.1% | 7.50% | +0.13 |
| ACVA Acv Auctions Inc. Class A | Add +50.2% | 7.04% | −1.85 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 10 | $153.4M | APP, OPLN, WSE, CPNG, GTLB |
| Q1 2026 | 12 | $104.5M | APP, OPLN, CPNG, GTLB, APPF |
| Q4 2025 | 10 | $138.9M | APP, OPLN, CPNG, CWAN, GTLB |
| Q3 2025 | 10 | $148.4M | APP, CPNG, OPLN, CCC, HGV |
| Q2 2025 | 12 | $128.1M | APP, CPNG, OPLN, ACVA, HGV |
| Q1 2025 | 14 | $105.6M | APP, CPNG, OPLN, ACVA, DCBO |
| Q4 2024 | 16 | $111.0M | APP, CPNG, OPLN, DCBO, ABNB |