Whitebark Investors LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Whitebark Investors LP reported 10 stock positions worth $210.0 million. Its top holding was Flutter Entertainment PLC-Di (FLUT) at 16.9% of the portfolio, followed by Microsoft (MSFT, 16.3%) and Coupang (CPNG, 14.1%). Compared with Q2 2025, it opened 2 new positions, sold out of 1, added to 3 and reduced 1. The biggest buy was Global-E Online (GLBE, shares +102%) and the biggest sale an exit from DoorDash Class A (DASH).
- Most Recent 13F
- Q2 2026
- Location
- Incline Village, NV
- CIK
- 0002042091
- Portfolio Value
- $210.0M (Q3 2025)
- SEC Filing
- 0001172661-25-004992 ↗ filed Nov 14, 2025
Holdings Value
Holdings 10 stocks · $210.0M
| FLUT Flutter Entertainment PLC-Di | 16.91% | 139,834 | $35.5M | Reduce -5.2% |
| MSFT Microsoft Corp. | 16.31% | 66,139 | $34.3M | No change |
| CPNG Coupang Inc. | 14.14% | 922,431 | $29.7M | Add +6.2% |
| TDS Telephone and Data Systems | 13.62% | 729,194 | $28.6M | No change |
| GSHD Goosehead Insurance Inc. Class A | 12.01% | 339,008 | $25.2M | No change |
| BLND Blend Labs Inc. Class A | 9.67% | 5,566,198 | $20.3M | Add +14.7% |
| GLBE Global-E Online Ltd. | 7.66% | 450,100 | $16.1M | Add +101.8% |
| GO Grocery Outlet Holding Corp. | 4.97% | 650,000 | $10.4M | No change |
| TMO Thermo Fisher Scientific Inc. | 3.65% | 15,800 | $7.7M | New |
| KLAR Klarna Group PLC | 1.05% | 60,000 | $2.2M | New |
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 10 | $129.5M | GLBE, CPNG, GO, MSFT, KLAR |
| Q1 2026 | 9 | $125.1M | CPNG, MSFT, GLBE, FLUT, GSHD |
| Q4 2025 | 9 | $166.0M | FLUT, CPNG, MSFT, GLBE, GSHD |
| Q3 2025 | 10 | $210.0M | FLUT, MSFT, CPNG, TDS, GSHD |
| Q2 2025Amended | 9 | $207.1M | FLUT, GSHD, MSFT, CPNG, TDS |
| Q1 2025 | 9 | $190.7M | GSHD, FLUT, MSFT, DASH, TDS |
| Q4 2024 | 9 | $215.8M | GSHD, DASH, FLUT, MSFT, GLBE |