Truffle Hound Capital, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), Truffle Hound Capital, LLC reported 45 stock positions worth $159.4 million. Its top holding was Grupo Cibest SA-ADR (CIB) at 7.5% of the portfolio, followed by Alerian MLP ETF (AMLP, 7.1%) and Abrdn Asia-Pacific Income (FAX, 6.1%). Compared with Q2 2025, it opened 4 new positions, sold out of 12, added to 15 and reduced 6. The biggest buy was a new position in Invesco Currencyshares Japan (FXY) and the biggest sale an exit from Strattec Security (STRT).
- Most Recent 13F
- Q2 2026
- Location
- BETHESDA, MD
- CIK
- 0001595862
- Portfolio Value
- $159.4M (Q3 2025)
- SEC Filing
- 0001595862-25-000009 ↗ filed Nov 6, 2025
Holdings Value
Holdings 45 stocks · $159.4M
| CIB Grupo Cibest SA-ADR | 7.49% | 230,000 | $11.9M | Reduce -8.0% |
| AMLP Alerian MLP ETF | 7.06% | 240,000 | $11.3M | No change |
| FAX Abrdn Asia-Pacific Income | 6.13% | 600,000 | $9.8M | No change |
| STNE Stoneco Ltd. Class A | 4.74% | 400,000 | $7.6M | No change |
| PAGS Pagseguro Digital Ltd. Class A | 4.70% | 750,000 | $7.5M | Reduce -6.3% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 4.35% | 85,000 | $6.9M | Add +13.3% |
| FXY Invesco Currencyshares Japan | 3.90% | 100,000 | $6.2M | New |
| GOOGL Alphabet Inc. Class A | 3.81% | 25,000 | $6.1M | Reduce -44.4% |
| BBD Banco Bradesco-ADR | 3.60% | 1,700,000 | $5.7M | Add +13.3% |
| AVAL Grupo Aval Acciones Y Valore | 3.52% | 1,700,000 | $5.6M | No change |
| OPBK Op Bancorp | 3.49% | 400,000 | $5.6M | No change |
| EC Ecopetrol SA-Sponsored ADR | 3.18% | 550,000 | $5.1M | No change |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 3.02% | 140,000 | $4.8M | Add +100.0% |
| BCH Banco DE Chile-ADR | 2.85% | 150,000 | $4.5M | No change |
| AMPY Amplify Energy Corp. | 2.63% | 800,000 | $4.2M | No change |
| CHCI Comstock Holding Companies | 2.30% | 261,292 | $3.7M | Add +130.1% |
| AXR Amrep Corp. | 2.25% | 150,000 | $3.6M | Add +31.0% |
| DOUG Douglas Elliman Inc. | 2.15% | 1,200,000 | $3.4M | Reduce -40.0% |
| AEO American Eagle Outfitters | 2.15% | 200,000 | $3.4M | New |
| FRD Friedman Industries | 2.06% | 150,000 | $3.3M | No change |
| WHR Whirlpool Corp. | 1.97% | 40,000 | $3.1M | Add +100.0% |
| ADBE Adobe Inc. | 1.77% | 8,000 | $2.8M | No change |
| MGYR Magyar Bancorp Inc. | 1.76% | 162,486 | $2.8M | Add +74.3% |
| NVO Novo-Nordisk A/S-Spons ADR | 1.74% | 50,000 | $2.8M | New |
| INFU Infusystem Holdings Inc. | 1.49% | 230,000 | $2.4M | Add +27.8% |
| BSET Bassett Furniture Inds | 1.47% | 150,000 | $2.3M | Reduce -25.0% |
| LGCY Legacy Education Inc. | 1.20% | 200,000 | $1.9M | Add +1.7% |
| HGBL Heritage Global Inc. | 1.15% | 1,100,000 | $1.8M | Add +19.5% |
| GIFI Gulf Island Fabrication Inc. | 1.10% | 250,000 | $1.8M | Add +42.8% |
| ULBI Ultralife Corp. | 1.07% | 250,000 | $1.7M | No change |
| HNNA Hennessy Advisors Inc. | 0.99% | 150,857 | $1.6M | Add +241.8% |
| DIBS 1STDIBS.COM Inc. | 0.97% | 600,000 | $1.6M | Add +50.0% |
| VIST Vista Energy Sab DE CV | 0.86% | 40,000 | $1.4M | No change |
| FONR Fonar Corp. | 0.85% | 90,000 | $1.4M | No change |
| AUBN Auburn Natl Bancorporation | 0.79% | 46,580 | $1.3M | Add +65.7% |
| TEI Templeton Emrg MKTS Inc. | 0.79% | 202,084 | $1.3M | No change |
| GPMT Granite Point Mortgage Trust | 0.75% | 400,000 | $1.2M | No change |
| PYPL PayPal Holdings Inc. | 0.72% | 17,000 | $1.1M | Reduce -47.7% |
| TSQ Townsquare Media Inc. Class A | 0.63% | 150,000 | $1.0M | No change |
| PPIH Perma-Pipe International Hol | 0.60% | 41,000 | $961K | No change |
| LTRX Lantronix Inc. | 0.57% | 200,000 | $914K | No change |
| LCUT Lifetime Brands Inc. | 0.49% | 200,000 | $774K | Add +12.8% |
| HOFT Hooker Furnishings Corp. | 0.38% | 58,996 | $599K | No change |
| MBUU Malibu Boats Inc. Class A | 0.28% | 14,000 | $454K | New |
| PETS Petmed Express Inc. | 0.19% | 120,035 | $301K | No change |
Options reported separately and not counted above: STATE STR SPDR S&P 500 ETF T puts ($129.9M), ISHARES INC calls ($43.4M), SLB LIMITED calls ($8.6M), NEWMONT CORP calls ($8.4M), ENERGY TRANSFER L P calls ($7.7M).
Portfolio Sells Q2 2025 → Q3 2025
| STRT Strattec Security Corp. | Sold out | 0.00% | −2.65 |
| MGIC Magic Software Enterprises | Sold out | 0.00% | −2.25 |
| CFFI C & F Financial Corp. | Sold out | 0.00% | −2.08 |
| GOOGL Alphabet Inc. Class A | Reduce -44.4% | 3.81% | −1.43 |
| MRBK Meridian Corp. | Sold out | 0.00% | −1.06 |
| DOUG Douglas Elliman Inc. | Reduce -40.0% | 2.15% | −0.91 |
| PYPL PayPal Holdings Inc. | Reduce -47.7% | 0.72% | −0.88 |
| ESOA Energy Services of America | Sold out | 0.00% | −0.66 |
| FCAP First Capital Inc. | Sold out | 0.00% | −0.65 |
| BVFL BV Financial Inc. | Sold out | 0.00% | −0.61 |
| KGEI Kolibri Global Energy Inc. | Sold out | 0.00% | −0.58 |
| BSET Bassett Furniture Inds | Reduce -25.0% | 1.47% | −0.54 |
| PAGS Pagseguro Digital Ltd. Class A | Reduce -6.3% | 4.70% | −0.39 |
| CIA Citizens Inc. | Sold out | 0.00% | −0.31 |
| LESLIES INC | Sold out | 0.00% | −0.19 |
| TBRG Trubridge Inc. | Sold out | 0.00% | −0.15 |
| CIB Grupo Cibest SA-ADR | Reduce -8.0% | 7.49% | −0.14 |
| CFBK CF Bankshares Inc. | Sold out | 0.00% | −0.10 |
Portfolio Buys Q2 2025 → Q3 2025
| FXY Invesco Currencyshares Japan | New | 3.90% | +3.90 |
| AEO American Eagle Outfitters | New | 2.15% | +2.15 |
| NVO Novo-Nordisk A/S-Spons ADR | New | 1.74% | +1.74 |
| CHCI Comstock Holding Companies | Add +130.1% | 2.30% | +1.54 |
| SLB SLB Ltd. | Add +100.0% | 3.02% | +1.45 |
| INFU Infusystem Holdings Inc. | Add +27.8% | 1.49% | +0.75 |
| MGYR Magyar Bancorp Inc. | Add +74.3% | 1.76% | +0.73 |
| AXR Amrep Corp. | Add +31.0% | 2.25% | +0.67 |
| WHR Whirlpool Corp. | Add +100.0% | 1.97% | +0.63 |
| HNNA Hennessy Advisors Inc. | Add +241.8% | 0.99% | +0.62 |
| BBD Banco Bradesco-ADR | Add +13.3% | 3.60% | +0.54 |
| GIFI Gulf Island Fabrication Inc. | Add +42.8% | 1.10% | +0.33 |
| AUBN Auburn Natl Bancorporation | Add +65.7% | 0.79% | +0.33 |
| MBUU Malibu Boats Inc. Class A | New | 0.28% | +0.28 |
| DIBS 1STDIBS.COM Inc. | Add +50.0% | 0.97% | +0.25 |
| KSPI JSC Kaspi.kz ADR | Add +13.3% | 4.35% | +0.15 |
| LCUT Lifetime Brands Inc. | Add +12.8% | 0.49% | −0.11 |
| HGBL Heritage Global Inc. | Add +19.5% | 1.15% | −0.20 |
| LGCY Legacy Education Inc. | Add +1.7% | 1.20% | −0.25 |
Options Activity Q2 2025 → Q3 2025
| STATE STR SPDR S&P 500 ETF T | put | Reduce -27.8% | 195,000 | $129.9M |
| GENERAL MTRS CO | call | Sold out | 200,000 | $9.8Mbefore 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 | 46 | $158.6M | AMLP, KSPI, EOG, PAGS, CF |
| Q1 2026 | 43 | $163.2M | AMLP, EC, KSPI, AMPY, PAGS |
| Q4 2025 | 47 | $170.9M | CIB, AMLP, PAGS, AVAL, KSPI |
| Q3 2025 | 45 | $159.4M | CIB, AMLP, FAX, STNE, PAGS |
| Q2 2025 | 53 | $151.3M | AMLP, CIB, FAX, GOOGL, PAGS |
| Q1 2025 | 48 | $156.0M | BANCOLOMBIA S.A.-SPONS ADR, AMLP, FAX, KSPI, OPBK |
| Q4 2024 | 48 | $167.0M | BANCOLOMBIA S.A.-SPONS ADR, AMLP, OPBK, FAX, KSPI |