Whetstone Capital Advisors, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Whetstone Capital Advisors, LLC reported 54 stock positions worth $320.5 million. Its top holding was Dave (DAVE) at 18.8% of the portfolio, followed by Cloudflare Class A (NET, 18.0%) and Alphabet Class C (GOOG, 12.8%). Compared with Q3 2025, it opened 9 new positions, sold out of 11, added to 21 and reduced 21. The biggest buy was Repay (RPAY, shares +1832%) and the biggest sale an exit from Monday.com (MNDY).
- Most Recent 13F
- Q2 2026
- Location
- SHAWNEE MISSION, KS
- CIK
- 0001607278
- Portfolio Value
- $320.5M (Q4 2025)
- SEC Filing
- 0001214659-26-001716 ↗ filed Feb 13, 2026
Holdings Value
Holdings 54 stocks · $320.5M
| DAVE Dave Inc. | 18.79% | 271,947 | $60.2M | Reduce -1.7% |
| NET Cloudflare Inc. Class A | 18.02% | 293,031 | $57.8M | Reduce -5.8% |
| GOOG Alphabet Inc. Class C | 12.76% | 130,373 | $40.9M | No change |
| AMZN Amazon.com Inc. | 6.70% | 93,104 | $21.5M | Reduce -0.1% |
| OPRX Optimizerx Corp. | 5.77% | 1,508,303 | $18.5M | No change |
| TOST Toast Inc. Class A | 3.72% | 336,049 | $11.9M | Add +0.3% |
| SERA Sera Prognostics Inc. Class A | 3.18% | 3,459,713 | $10.2M | Reduce -4.8% |
| RPAY Repay Holdings Corp. | 3.11% | 2,728,627 | $10.0M | Add +1832.1% |
| LPRO Open Lending Corp. | 2.91% | 6,014,667 | $9.3M | Add +34.0% |
| HCAT Health Catalyst Inc. | 2.80% | 3,750,377 | $9.0M | Add +0.5% |
| RELY Remitly Global Inc. | 2.49% | 579,311 | $8.0M | Add +11.4% |
| XYZ Block Inc. | 2.34% | 115,354 | $7.5M | New |
| BLZE Backblaze Inc. Class A | 2.21% | 1,520,055 | $7.1M | Add +4.1% |
| TRUE Truecar Inc. | 2.17% | 3,074,241 | $6.9M | Reduce -8.9% |
| PRG Prog Holdings Inc. | 1.68% | 182,672 | $5.4M | Reduce -31.8% |
| ASAN Asana Inc. Class A | 1.63% | 381,716 | $5.2M | No change |
| XZO Exzeo Group Inc. | 1.40% | 184,753 | $4.5M | New |
| SEZL Sezzle Inc. | 1.14% | 57,605 | $3.7M | Add +165.8% |
| BLND Blend Labs Inc. Class A | 1.11% | 1,171,079 | $3.6M | New |
| OPRA Opera Ltd.-ADR | 1.08% | 245,459 | $3.5M | Add +34.9% |
| BODI The Beachbody Co. Inc. filed as THE BEACHBODY COMPANY INC | 0.96% | 297,627 | $3.1M | Reduce -25.5% |
| FVRR Fiverr International Ltd. | 0.78% | 126,391 | $2.5M | New |
| LFMD Lifemd Inc. | 0.75% | 703,053 | $2.4M | Add +89.6% |
| REAL BROKERAGE INC/THE filed as THE REAL BROKERAGE INC | 0.22% | 197,192 | $720K | New |
| SEAT Vivid Seats Inc. Class A | 0.19% | 82,559 | $595K | New |
| GOOGL Alphabet Inc. Class A | 0.12% | 1,209 | $378K | Reduce -31.4% |
| GOLDEN MATRIX GROUP INC | 0.10% | 413,402 | $331K | New |
| CNQ Canadian Natural Resources | 0.07% | 7,055 | $239K | Reduce -4.4% |
| KVUE Kenvue Inc. | 0.07% | 13,463 | $232K | Add +7.3% |
| UNH Unitedhealth Group Inc. | 0.07% | 703 | $232K | Add +10.4% |
| SNY Sanofi-ADR | 0.07% | 4,754 | $230K | Reduce -2.8% |
| GSK GSK PLC-Spon ADR | 0.07% | 4,693 | $230K | Reduce -17.6% |
| UL Unilever PLC-Sponsored ADR | 0.07% | 3,508 | $229K | Add +4.7% |
| PM Philip Morris International | 0.07% | 1,428 | $229K | Add +0.4% |
| MMM 3M Co. | 0.07% | 1,430 | $229K | Reduce -4.0% |
| NEE Nextera Energy Inc. | 0.07% | 2,847 | $229K | Reduce -13.0% |
| CI The Cigna Group | 0.07% | 829 | $228K | Add +4.9% |
| OUT Outfront Media Inc. | 0.07% | 9,433 | $227K | Reduce -23.8% |
| JNJ Johnson & Johnson | 0.07% | 1,098 | $227K | Reduce -16.6% |
| PSX Phillips 66 | 0.07% | 1,759 | $227K | Reduce -2.1% |
| LYB Lyondellbasell Indu Class A | 0.07% | 5,241 | $227K | Add +17.0% |
| BX Blackstone Inc. | 0.07% | 1,465 | $226K | Add +18.6% |
| MO Altria Group Inc. | 0.07% | 3,893 | $224K | Add +8.4% |
| MDT Medtronic PLC | 0.07% | 2,336 | $224K | Reduce -4.6% |
| SMG Scotts Miracle-Gro Co. | 0.07% | 3,841 | $224K | Reduce -3.0% |
| BAH Booz Allen Hamilton Holdings | 0.07% | 2,652 | $224K | Add +15.2% |
| QSR Restaurant Brands Intern | 0.07% | 3,245 | $221K | Reduce -11.0% |
| WSO Watsco Inc. | 0.07% | 656 | $221K | Add +10.8% |
| APO Apollo Global Management Inc. | 0.07% | 1,524 | $221K | Reduce -5.2% |
| KREF KKR Real Estate Finance Trus | 0.07% | 26,609 | $219K | Add +9.9% |
| CG The Carlyle Group Inc. | 0.07% | 3,696 | $218K | Add +9.4% |
| MTN Vail Resorts Inc. | 0.06% | 1,526 | $203K | Reduce -2.7% |
| DDI Doubledown Interactive -ADR | 0.05% | 20,000 | $173K | New |
| AMWL American Well Corp. Class A | 0.04% | 25,000 | $123K | New |
Portfolio Sells Q3 2025 → Q4 2025
| MNDY Monday.com Ltd. | Sold out | 0.00% | −4.25 |
| PRO Pros Holdings Inc. | Sold out | 0.00% | −2.51 |
| GTLB Gitlab Inc. Class A | Sold out | 0.00% | −2.40 |
| DKNG Draftkings Inc. Class A | Sold out | 0.00% | −1.65 |
| DSP Viant Technology Inc. Class A | Sold out | 0.00% | −1.40 |
| VERX Vertex Inc. Class A | Sold out | 0.00% | −0.78 |
| KPLT Katapult Holdings Inc. | Sold out | 0.00% | −0.73 |
| PRG Prog Holdings Inc. | Reduce -31.8% | 1.68% | −0.72 |
| OS Onestream Inc. | Sold out | 0.00% | −0.57 |
| NET Cloudflare Inc. Class A | Reduce -5.8% | 18.02% | −0.47 |
| PRTH Priority Technology Holdings | Sold out | 0.00% | −0.30 |
| NTSK Netskope Inc. Class A | Sold out | 0.00% | −0.11 |
| THRY Thryv Holdings Inc. | Sold out | 0.00% | −0.06 |
| MTN Vail Resorts Inc. | Reduce -2.7% | 0.06% | −0.00 |
| GOOGL Alphabet Inc. Class A | Reduce -31.4% | 0.12% | −0.00 |
| NEE Nextera Energy Inc. | Reduce -13.0% | 0.07% | +0.00 |
| PSX Phillips 66 | Reduce -2.1% | 0.07% | +0.00 |
| JNJ Johnson & Johnson | Reduce -16.6% | 0.07% | +0.00 |
| GSK GSK PLC-Spon ADR | Reduce -17.6% | 0.07% | +0.00 |
| QSR Restaurant Brands Intern | Reduce -11.0% | 0.07% | +0.00 |
| MDT Medtronic PLC | Reduce -4.6% | 0.07% | +0.01 |
| MMM 3M Co. | Reduce -4.0% | 0.07% | +0.01 |
| SMG Scotts Miracle-Gro Co. | Reduce -3.0% | 0.07% | +0.01 |
| SNY Sanofi-ADR | Reduce -2.8% | 0.07% | +0.01 |
| OUT Outfront Media Inc. | Reduce -23.8% | 0.07% | +0.01 |
| CNQ Canadian Natural Resources | Reduce -4.4% | 0.07% | +0.01 |
| APO Apollo Global Management Inc. | Reduce -5.2% | 0.07% | +0.01 |
| SERA Sera Prognostics Inc. Class A | Reduce -4.8% | 3.18% | +0.11 |
| BODI The Beachbody Co. Inc. | Reduce -25.5% | 0.96% | +0.31 |
| TRUE Truecar Inc. | Reduce -8.9% | 2.17% | +0.45 |
| AMZN Amazon.com Inc. | Reduce -0.1% | 6.70% | +1.04 |
| DAVE Dave Inc. | Reduce -1.7% | 18.79% | +3.51 |
Portfolio Buys Q3 2025 → Q4 2025
| RPAY Repay Holdings Corp. | Add +1832.1% | 3.11% | +2.90 |
| XYZ Block Inc. | New | 2.34% | +2.34 |
| XZO Exzeo Group Inc. | New | 1.40% | +1.40 |
| BLND Blend Labs Inc. Class A | New | 1.11% | +1.11 |
| FVRR Fiverr International Ltd. | New | 0.78% | +0.78 |
| SEZL Sezzle Inc. | Add +165.8% | 1.14% | +0.66 |
| TOST Toast Inc. Class A | Add +0.3% | 3.72% | +0.34 |
| LPRO Open Lending Corp. | Add +34.0% | 2.91% | +0.29 |
| REAL BROKERAGE INC/THE | New | 0.22% | +0.22 |
| SEAT Vivid Seats Inc. Class A | New | 0.19% | +0.19 |
| RELY Remitly Global Inc. | Add +11.4% | 2.49% | +0.15 |
| GOLDEN MATRIX GROUP INC | New | 0.10% | +0.10 |
| DDI Doubledown Interactive -ADR | New | 0.05% | +0.05 |
| LFMD Lifemd Inc. | Add +89.6% | 0.75% | +0.05 |
| OPRA Opera Ltd.-ADR | Add +34.9% | 1.08% | +0.04 |
| AMWL American Well Corp. Class A | New | 0.04% | +0.04 |
| KVUE Kenvue Inc. | Add +7.3% | 0.07% | +0.02 |
| BX Blackstone Inc. | Add +18.6% | 0.07% | +0.01 |
| UNH Unitedhealth Group Inc. | Add +10.4% | 0.07% | +0.01 |
| LYB Lyondellbasell Indu Class A | Add +17.0% | 0.07% | +0.01 |
| UL Unilever PLC-Sponsored ADR | Add +4.7% | 0.07% | +0.01 |
| CG The Carlyle Group Inc. | Add +9.4% | 0.07% | +0.01 |
| CI The Cigna Group | Add +4.9% | 0.07% | +0.01 |
| KREF KKR Real Estate Finance Trus | Add +9.9% | 0.07% | +0.01 |
| PM Philip Morris International | Add +0.4% | 0.07% | +0.01 |
| BAH Booz Allen Hamilton Holdings | Add +15.2% | 0.07% | +0.01 |
| MO Altria Group Inc. | Add +8.4% | 0.07% | +0.00 |
| WSO Watsco Inc. | Add +10.8% | 0.07% | +0.00 |
| HCAT Health Catalyst Inc. | Add +0.5% | 2.80% | −0.15 |
| BLZE Backblaze Inc. Class A | Add +4.1% | 2.21% | −1.54 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 67 | $377.4M | DAVE, NET, GOOG, AMZN, FRMI |
| Q1 2026 | 54 | $265.8M | NET, DAVE, GOOG, AMZN, OPRX |
| Q4 2025 | 54 | $320.5M | DAVE, NET, GOOG, AMZN, OPRX |
| Q3 2025 | 56 | $361.1M | NET, DAVE, GOOG, OPRX, AMZN |
| Q2 2025 | 32 | $354.0M | DAVE, NET, MNDY, GOOG, AMZN |
| Q1 2025 | 28 | $226.3M | NET, DAVE, GOOG, MNDY, AMZN |
| Q4 2024 | 28 | $262.7M | NET, GOOG, DAVE, AMZN, MNDY |
| Q3 2024 | 37 | $207.5M | NET, MNDY, GOOG, AMZN, BLZE |
| Q2 2024 | 38 | $215.5M | NET, GOOG, MNDY, AMZN, PRO |
| Q1 2024 | 31 | $228.4M | NET, GOOG, MNDY, AMZN, BLZE |