TFJ Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), TFJ Management, LLC reported 10 stock positions worth $138.9 million. Its top holding was AppLovin Class A (APP) at 25.6% of the portfolio, followed by Openlane (OPLN, 16.1%) and Coupang (CPNG, 14.3%). Compared with Q3 2025, it opened 1 new position, sold out of 1, added to 6 and reduced 2. The biggest buy was Clearwater Analytics HDS-A (CWAN, shares +91%) and the biggest sale an exit from CCC Intelligent Solutions Ho (CCC).
- Most Recent 13F
- Q2 2026
- Location
- SOMERVILLE, MA
- CIK
- 0002056069
- Portfolio Value
- $138.9M (Q4 2025)
- SEC Filing
- 0002056069-26-000001 ↗ filed Feb 17, 2026
Holdings Value
Holdings 10 stocks · $138.9M
| APP AppLovin Corp. Class A | 25.65% | 52,865 | $35.6M | Reduce -3.0% |
| OPLN Openlane Inc. | 16.13% | 752,220 | $22.4M | Add +21.6% |
| CPNG Coupang Inc. | 14.34% | 844,182 | $19.9M | Add +8.2% |
| CWAN Clearwater Analytics HDS-A | 11.86% | 683,114 | $16.5M | Add +91.3% |
| GTLB Gitlab Inc. Class A | 10.88% | 402,815 | $15.1M | Add +82.1% |
| ACVA Acv Auctions Inc. Class A | 7.14% | 1,236,430 | $9.9M | Add +17.2% |
| APPF Appfolio Inc. Class A | 6.06% | 36,166 | $8.4M | Add +6.3% |
| RSKD Riskified Ltd. Class A | 4.99% | 1,394,074 | $6.9M | No change |
| HGV Hilton Grand Vacations Inc. | 1.55% | 48,030 | $2.1M | Reduce -82.0% |
| CLVT Clarivate PLC | 1.41% | 585,250 | $2.0M | New |
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
| CWAN Clearwater Analytics HDS-A | Add +91.3% | 11.86% | +7.53 |
| GTLB Gitlab Inc. Class A | Add +82.1% | 10.88% | +4.16 |
| OPLN Openlane Inc. | Add +21.6% | 16.13% | +4.14 |
| CLVT Clarivate PLC | New | 1.41% | +1.41 |
| ACVA Acv Auctions Inc. Class A | Add +17.2% | 7.14% | +0.10 |
| APPF Appfolio Inc. Class A | Add +6.3% | 6.06% | −0.26 |
| CPNG Coupang Inc. | Add +8.2% | 14.34% | −2.60 |
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 |