Venator Management LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Venator Management LLC reported 26 stock positions worth $443.1 million. Its top holding was Alphabet Class C (GOOG) at 16.0% of the portfolio, followed by Amazon.com (AMZN, 12.1%) and Alphabet Class A (GOOGL, 10.2%). Compared with Q3 2025, it opened 4 new positions, sold out of 3, added to 9 and reduced 11. The biggest buy was a new position in Fiserv (FISV) and the biggest sale Uber Technologies (UBER, shares −4%).

Most Recent 13F
Q2 2026
Location
PITTSBURGH, PA
CIK
0001838211
Portfolio Value
$443.1M (Q4 2025)
SEC Filing
0001838211-26-000002 ↗ filed Feb 12, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $337.4M Q1 2024 Q2 2024: $330.7M Q2 2024 Q3 2024: $345.4M Q3 2024 Q4 2024: $347.2M Q4 2024 Q1 2025: $335.2M Q1 2025 Q2 2025: $386.7M Q2 2025 Q3 2025: $419.6M Q3 2025 Q4 2025: $443.1M $443.1M Q4 2025 Q1 2026: $415.2M Q1 2026 Q2 2026: $443.4M Q2 2026

Holdings 26 stocks · $443.1M
GOOG Alphabet Inc. Class C 15.97% 225,440 $70.7M Reduce -0.9%
AMZN Amazon.com Inc. 12.10% 232,257 $53.6M Add +4.5%
GOOGL Alphabet Inc. Class A 10.24% 144,914 $45.4M Reduce -0.9%
V Visa Inc. Class A 9.82% 124,071 $43.5M Add +15.8%
META Meta Platforms Inc. Class A 7.50% 50,371 $33.2M Reduce -3.8%
UBER Uber Technologies Inc. 6.51% 353,155 $28.9M Reduce -3.6%
NFLX Netflix Inc. 5.73% 270,710 $25.4M Add +7.6%
NVR NVR Inc. 4.81% 2,924 $21.3M Add +1.1%
BWIN Baldwin Insurance Group Inc./ filed as THE BALDWIN INSURANCE GRP IN 4.20% 773,695 $18.6M No change
JPM JPMorgan Chase & Co. 4.03% 55,465 $17.9M Reduce -1.1%
COF Capital One Financial Corp. 3.63% 66,367 $16.1M Add +5.6%
ELV Elevance Health Inc. 2.19% 27,630 $9.7M Add +0.4%
BRK.B Berkshire Hathaway Inc. Class B 2.07% 18,220 $9.2M Reduce -0.8%
SBUX Starbucks Corp. 2.02% 106,470 $9.0M Add +5.2%
TTAM Titan America SA 1.94% 522,310 $8.6M Add +13.9%
UNH Unitedhealth Group Inc. 1.83% 24,560 $8.1M Reduce -3.9%
CZR Caesars Entertainment Inc. 1.24% 234,025 $5.5M Reduce -10.6%
FISV Fiserv Inc. 1.14% 75,385 $5.1M New
FCNCA First Citizens Bcshs Class A 0.93% 1,921 $4.1M Reduce -8.2%
ECHO Echostar Corp. Class A 0.76% 31,000 $3.4M Add +19.7%
DECK Deckers Outdoor Corp. 0.47% 20,000 $2.1M New
BRK.A Berkshire Hathaway Inc. Class A 0.34% 2 $1.5M No change
TMUS T-Mobile US Inc. 0.24% 5,200 $1.1M Reduce -17.6%
EADSY Airbus SE - Unsp ADR 0.12% 9,300 $539K Reduce -79.2%
MRSH Marsh & McLennan Cos 0.11% 2,700 $501K New
PGR Progressive Corp. 0.06% 1,200 $273K New
Other holdings (1): bonds, preferreds, convertibles and warrants · $545K (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 450$545KNew

Total filed on the 13F, all lines: $443.6M.

Portfolio Sells Q3 2025 → Q4 2025
UBER Uber Technologies Inc. Reduce -3.6% 6.51% −2.04
META Meta Platforms Inc. Class A Reduce -3.8% 7.50% −1.66
EADSY Airbus SE - Unsp ADR Reduce -79.2% 0.12% −0.50
CZR Caesars Entertainment Inc. Reduce -10.6% 1.24% −0.45
UNH Unitedhealth Group Inc. Reduce -3.9% 1.83% −0.27
TMO Thermo Fisher Scientific Inc. Sold out 0.00% −0.21
JPM JPMorgan Chase & Co. Reduce -1.1% 4.03% −0.18
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.8% 2.07% −0.13
COO The Cooper Cos Inc. Sold out 0.00% −0.12
TMUS T-Mobile US Inc. Reduce -17.6% 0.24% −0.12
OSCR Oscar Health Inc. Class A Sold out 0.00% −0.11
FCNCA First Citizens Bcshs Class A Reduce -8.2% 0.93% +0.04
GOOGL Alphabet Inc. Class A Reduce -0.9% 10.24% +1.76
GOOG Alphabet Inc. Class C Reduce -0.9% 15.97% +2.77

Portfolio Buys Q3 2025 → Q4 2025
FISV Fiserv Inc. New 1.14% +1.14
V Visa Inc. Class A Add +15.8% 9.82% +1.10
AMZN Amazon.com Inc. Add +4.5% 12.10% +0.47
DECK Deckers Outdoor Corp. New 0.47% +0.47
COF Capital One Financial Corp. Add +5.6% 3.63% +0.45
TTAM Titan America SA Add +13.9% 1.94% +0.31
ECHO Echostar Corp. Class A Add +19.7% 0.76% +0.29
MRSH Marsh & McLennan Cos New 0.11% +0.11
ELV Elevance Health Inc. Add +0.4% 2.19% +0.07
PGR Progressive Corp. New 0.06% +0.06
SBUX Starbucks Corp. Add +5.2% 2.02% −0.02
NVR NVR Inc. Add +1.1% 4.81% −0.73
NFLX Netflix Inc. Add +7.6% 5.73% −1.46

Notes & Other Activity Q3 2025 → Q4 2025
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A New 450 $545K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 26$443.4MGOOG, AMZN, V, GOOGL, NFLX
Q1 2026 27$415.2MGOOG, AMZN, V, GOOGL, NFLX
Q4 2025 26$443.1MGOOG, AMZN, GOOGL, V, META
Q3 2025 25$419.6MGOOG, AMZN, META, V, UBER
Q2 2025 23$386.7MAMZN, META, GOOG, UBER, V
Q1 2025 22$335.2MAMZN, V, GOOG, BWIN, META
Q4 2024 24$347.2MGOOG, AMZN, META, V, NFLX
Q3 2024 23$345.4MGOOG, BWIN, META, AMZN, UBER
Q2 2024 25$330.7MGOOG, AMZN, UBER, META, NFLX
Q1 2024 27$337.4MUBER, GOOG, AMZN, META, NFLX