In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 20, 2025), Voss Capital, LP reported 46 stock positions worth $1.7 billion . Its top holding was Flywire Corp.-Voting (FLYW) at 7.5% of the portfolio, followed by Cellebrite Di (CLBT, 7.2% ) and Par Technology (PAR, 6.8% ). Compared with Q2 2025, it opened 1 new position, sold out of 9, added to 23 and reduced 16. The biggest buy was Avantor (AVTR, shares +906% ) and the biggest sale CRH (CRH, shares −61% ).
Location HOUSTON, TX
CIK 0001730145
Portfolio Value $1.7B (Q3 2025) Holdings 46 stocks · $1.7B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2025 FLYW Flywire Corp.-Voting 9,619,798 $130.3M Add +18.8% CLBT Cellebrite Di Ltd. 6,775,000 $125.5M Add +31.6% PAR Par Technology Corp. 2,975,000 $117.8M Add +74.0% EEFT Euronet Worldwide Inc. 1,340,000 $117.7M Add +66.5% GFF Griffon Corp. 1,535,000 $116.9M Add +13.7% FIVN FIVE9 Inc. 4,550,000 $110.1M Add +40.0% PRKS United Parks & Resorts Inc. 2,050,000 $106.0M Add +4.3% GENI Genius Sports Ltd. 8,200,000 $101.5M Reduce -5.2% PHIN Phinia Inc. 1,680,000 $96.6M Reduce -26.6% POWL Powell Industries Inc. 295,000 $89.9M Add +59.6% SN Sharkninja Inc. 547,500 $56.5M Reduce -4.9% AVTR Avantor Inc. 4,525,000 $56.5M Add +905.6% CROX Crocs Inc. 665,000 $55.6M Add +65.2% KNF Knife River Corp. 440,000 $33.8M New SWIM Latham Group Inc. 4,350,000 $33.1M Reduce -30.9% AIOT Powerfleet Inc. 5,800,000 $30.4M Add +4.3% CNH CNH Industrial NV 2,775,000 $30.1M Add +23.7% LEGH Legacy Housing Corp. 1,067,249 $29.4M Add +1.6% SHC Sotera Health Co. 1,850,000 $29.1M Add +146.7% RTO Rentokil Initial PLC-SP ADR 1,100,000 $27.8M Reduce -30.8% CRH CRH PLC 225,000 $27.0M Reduce -60.9% TTAM Titan America SA 1,715,000 $25.6M Add +13.3% XPOF Xponential Fitness Inc. Class A 3,232,500 $25.2M Add +7.8% CCS Century Communities Inc. 365,000 $23.1M Add +28.1% ABG Asbury Automotive Group 90,000 $22.0M Reduce -29.3% ALTG Alta Equipment Group Inc. 2,886,559 $20.9M Reduce -2.5% IMXI International Money Express 1,167,390 $16.3M Reduce -40.1% LGIH Lgi Homes Inc. 300,000 $15.5M Add +33.3% AMTM Amentum Holdings Inc. 625,000 $15.0M Reduce -55.4% QURE Uniqure NV 125,000 $7.3M No change SXT Sensient Technologies Corp. 75,000 $7.0M Add +200.0% ACTU Actuate Therapeutics Inc. 896,278 $6.0M Add +213.2% ALX Alexander's Inc. 25,290 $5.9M No change RGNX Regenxbio Inc. 500,000 $4.8M Reduce -13.0% BXC Bluelinx Holdings Inc. 60,000 $4.4M Add +24.5% ARKO Arko Corp. 957,247 $4.4M Reduce -37.3% RNTX Rein Therapeutics Inc. 2,666,532 $3.1M Add +86.0% KURA Kura Oncology Inc. 305,659 $2.7M No change AMRZ Amrize Ltd. 44,305 $2.2M No change IOVA Iovance Biotherapeutics Inc. 650,000 $1.4M Reduce -3.4% CGEM Cullinan Therapeutics Inc. 221,473 $1.3M Reduce -12.0% RMNI Rimini Street Inc. 250,000 $1.2M No change RCKT Rocket Pharmaceuticals Inc. 300,000 $978K Reduce -40.0% IRD Opus Genetics Inc. 562,377 $928K Add +3.9% CGTX Cognition Therapeutics Inc. 300,000 $405K Reduce -33.3% LTRN Lantern Pharma Inc. 50,000 $218K No change
Options reported separately and not counted above: TSLA puts ($223.7M), QQQ puts ($33.0M), SPY puts ($16.7M), GOOGL calls ($6.1M), IBM puts ($4.9M), ARKK puts ($2.2M), HSY puts ($1.9M), FLYW calls ($677K), PAR calls ($368K), RCL puts ($324K), EOLS calls ($307K), CLBT puts ($43K).
Portfolio Sells Q2 2025 → Q3 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▲ CRH CRH PLC Reduce -60.9% 1.55% −2.09 PHIN Phinia Inc. Reduce -26.6% 5.55% −1.47 AMTM Amentum Holdings Inc. Reduce -55.4% 0.86% −1.42 RTO Rentokil Initial PLC-SP ADR Reduce -30.8% 1.60% −1.03 MHO M/I Homes Inc. Sold out 0.00% −0.97 SWIM Latham Group Inc. Reduce -30.9% 1.90% −0.87 ABG Asbury Automotive Group Reduce -29.3% 1.26% −0.83 SN Sharkninja Inc. Reduce -4.9% 3.25% −0.68 IMXI International Money Express Reduce -40.1% 0.94% −0.42 ECVT Ecovyst Inc. Sold out 0.00% −0.36 GENI Genius Sports Ltd. Reduce -5.2% 5.84% −0.36 EXTR Extreme Networks Inc. Sold out 0.00% −0.31 BLDR Builders Firstsource Inc. Sold out 0.00% −0.28 DHI D.R. Horton Inc. Sold out 0.00% −0.27 BLD Topbuild Corp. Sold out 0.00% −0.22 ARKO Arko Corp. Reduce -37.3% 0.25% −0.19 XERS Xeris Biopharma Holdings Inc. Sold out 0.00% −0.10 ALTG Alta Equipment Group Inc. Reduce -2.5% 1.20% −0.09 CGEM Cullinan Therapeutics Inc. Reduce -12.0% 0.08% −0.06 RGNX Regenxbio Inc. Reduce -13.0% 0.28% −0.05 NATH Nathan's Famous Inc. Sold out 0.00% −0.04 BZH Beazer Homes USA Inc. Sold out 0.00% −0.04 RCKT Rocket Pharmaceuticals Inc. Reduce -40.0% 0.06% −0.03 IOVA Iovance Biotherapeutics Inc. Reduce -3.4% 0.08% +0.00 CGTX Cognition Therapeutics Inc. Reduce -33.3% 0.02% +0.01
Portfolio Buys Q2 2025 → Q3 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▼ AVTR Avantor Inc. Add +905.6% 3.25% +2.83 POWL Powell Industries Inc. Add +59.6% 5.17% +2.49 KNF Knife River Corp. New 1.94% +1.94 CLBT Cellebrite Di Ltd. Add +31.6% 7.22% +1.54 EEFT Euronet Worldwide Inc. Add +66.5% 6.77% +1.14 SHC Sotera Health Co. Add +146.7% 1.67% +1.10 FLYW Flywire Corp.-Voting Add +18.8% 7.49% +0.96 FIVN FIVE9 Inc. Add +40.0% 6.33% +0.40 CROX Crocs Inc. Add +65.2% 3.19% +0.39 SXT Sensient Technologies Corp. Add +200.0% 0.40% +0.23 ACTU Actuate Therapeutics Inc. Add +213.2% 0.34% +0.22 CCS Century Communities Inc. Add +28.1% 1.33% +0.22 TTAM Titan America SA Add +13.3% 1.47% +0.17 AIOT Powerfleet Inc. Add +4.3% 1.75% +0.10 LGIH Lgi Homes Inc. Add +33.3% 0.89% +0.09 LEGH Legacy Housing Corp. Add +1.6% 1.69% +0.05 RNTX Rein Therapeutics Inc. Add +86.0% 0.18% +0.04 IRD Opus Genetics Inc. Add +3.9% 0.05% +0.02 BXC Bluelinx Holdings Inc. Add +24.5% 0.25% +0.01 GFF Griffon Corp. Add +13.7% 6.72% −0.01 XPOF Xponential Fitness Inc. Class A Add +7.8% 1.45% −0.10 CNH CNH Industrial NV Add +23.7% 1.73% −0.27 PRKS United Parks & Resorts Inc. Add +4.3% 6.09% −0.29 PAR Par Technology Corp. Add +74.0% 6.77% −1.40
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ TSLA Tesla Inc. put New 503,000 $223.7M QQQ Invesco QQQ Trust Series 1 put New 55,000 $33.0M SPY SS SPDR S&P 500 ETF Trust-US put New 25,000 $16.7M GOOGL Alphabet Inc. Class A call New 25,000 $6.1M IBM Intl Business Machines Corp. put New 17,500 $4.9M ARKK ARK Innovation ETF put New 25,000 $2.2M HSY The Hershey Co. put New 10,000 $1.9M FLYW Flywire Corp.-Voting call New 50,000 $677K PAR Par Technology Corp. call New 9,300 $368K RCL Royal Caribbean Cruises Ltd. put New 1,000 $324K EOLS Evolus Inc. call New 50,000 $307K CLBT Cellebrite Di Ltd. put New 2,300 $43K
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 35 $2.0B FLYW, SRE, CLBT, GFF, FIVN Q1 2026 39 $1.7B FLYW, CLBT, GFF, SRE, EEFT Q4 2025 48 $1.9B FLYW, PAR, CLBT, GFF, GENI Q3 2025 Amended 46 $1.7B FLYW, CLBT, PAR, EEFT, GFF Q2 2025 54 $1.5B PAR, PHIN, GFF, FLYW, PRKS Q1 2025 56 $1.3B PAR, GFF, GENI, EEFT, PHIN Q4 2024 45 $1.3B PAR, CRH, GFF, PLYA, PRKS Q3 2024 39 $1.2B CRH, GFF, PAR, PRKS, CNH Q2 2024 38 $1.0B RCM, GFF, CRH, PAR, RTO Q1 2024 33 $1.2B CRH, RCM, GFF, BXC, RTO