In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), WS Management LLLP reported 29 stock positions worth $651.6 million . Its top holding was Berkshire Hathaway Class A (BRK.A) at 14.5% of the portfolio, followed by Vaneck Gold Miners ETF (GDX, 8.6% ) and Micron Technology (MU, 7.5% ). Compared with Q2 2025, it opened 1 new position, sold out of 2, added to 4 and reduced 5. The biggest buy was Vaneck Gold Miners ETF (GDX, shares +59% ) and the biggest sale Amazon.com (AMZN, shares −9% ).
Location JACKSONVILLE, FL
CIK 0000877338
Portfolio Value $651.6M (Q3 2025) Holdings 29 stocks · $651.6M 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 BRK.A Berkshire Hathaway Inc. Class A 125 $94.3M No change GDX Vaneck Gold Miners ETF 731,263 $55.9M Add +58.5% MU Micron Technology Inc. 293,492 $49.1M Reduce -22.0% GLD SPDR Gold Shares 130,678 $46.5M No change NVDA Nvidia Corp. 246,868 $46.1M Reduce -3.9% AMZN Amazon.com Inc. 205,906 $45.2M Reduce -8.8% BRK.B Berkshire Hathaway Inc. Class B 89,905 $45.2M Add +66.3% TLT iShares 20+ Year Treasury BD 397,500 $35.5M No change LH Labcorp Holdings Inc. 105,000 $30.1M No change GOOGL Alphabet Inc. Class A 104,453 $25.4M No change TJX TJX Companies Inc. filed as TJX COS INC NEW 118,414 $17.1M No change COP Conocophillips 175,119 $16.6M No change LUV Southwest Airlines Co. 500,000 $16.0M No change RHP Ryman Hospitality Properties 155,835 $14.0M No change WMT Walmart Inc. 120,977 $12.5M No change LAMR Lamar Advertising Co. Class A 100,000 $12.2M Reduce -25.8% CROX Crocs Inc. 129,000 $10.8M Reduce -13.4% SN Sharkninja Inc. 90,000 $9.3M No change KMX Carmax Inc. 200,455 $9.0M Add +99.5% KNX Knight-Swift Transportation 201,943 $8.0M No change XBI SS SPDR S&P Biotech ETF 76,457 $7.7M No change GEHC GE Healthcare Technology 96,675 $7.3M No change MPC Marathon Petroleum Corp. 37,378 $7.2M No change CHTR Charter Communications Inc. Class A 24,209 $6.7M Add +146.8% COST Costco Wholesale Corp. 6,285 $5.8M No change CELH Celsius Holdings Inc. 100,000 $5.7M No change ASA ASA Gold and Precious Metals 122,351 $5.6M No change TEM Tempus AI Inc. Class A 48,836 $3.9M New VTRS Viatris Inc. 316,222 $3.1M No change
Options reported separately and not counted above: BRK.B calls ($50.3M), PAYX puts ($30.2M), TEM puts ($29.9M), GDX puts ($25.2M), BRK.B puts ($25.0M), GLD puts ($17.8M), MU calls ($16.7M), DXCM puts ($16.2M), TXN puts ($11.0M), MU puts ($10.0M), GDX calls ($7.6M), COP puts ($7.6M), and 6 more.
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 ▲ AMZN Amazon.com Inc. Reduce -8.8% 6.94% −1.71 CROX Crocs Inc. Reduce -13.4% 1.65% −0.98 LAMR Lamar Advertising Co. Class A Reduce -25.8% 1.88% −0.98 MU Micron Technology Inc. Reduce -22.0% 7.54% −0.56 GME Gamestop Corp. Class A Sold out 0.00% −0.51 WOLF Wolfspeed Inc. Sold out 0.00% −0.02 NVDA Nvidia Corp. Reduce -3.9% 7.07% −0.02
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 ▼ GDX Vaneck Gold Miners ETF Add +58.5% 8.57% +4.38 BRK.B Berkshire Hathaway Inc. Class B Add +66.3% 6.94% +2.35 TEM Tempus AI Inc. Class A New 0.60% +0.60 CHTR Charter Communications Inc. Class A Add +146.8% 1.02% +0.32 KMX Carmax Inc. Add +99.5% 1.38% +0.20
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ BRK.B Berkshire Hathaway Inc. Class B call New 100,000 $50.3M PAYX Paychex Inc. put Add +83.3% 238,300 $30.2M TEM Tempus AI Inc. Class A put Add +94.7% 370,000 $29.9M GDX Vaneck Gold Miners ETF put New 330,000 $25.2M BRK.B Berkshire Hathaway Inc. Class B put Reduce -24.4% 49,800 $25.0M GLD SPDR Gold Shares put Reduce -37.5% 50,000 $17.8M MU Micron Technology Inc. call Reduce -50.0% 100,000 $16.7M DXCM Dexcom Inc. put New 240,300 $16.2M TXN Texas Instruments Inc. put Add +20.0% 60,000 $11.0M MU Micron Technology Inc. put Add +100.0% 60,000 $10.0M GDX Vaneck Gold Miners ETF call Reduce -60.0% 100,000 $7.6M COP Conocophillips put Add +33.3% 80,000 $7.6M GOOGL Alphabet Inc. Class A put New 20,000 $4.9M COP Conocophillips call New 50,000 $4.7M ASTS Ast Spacemobile Inc. put New 80,000 $3.9M NVDA Nvidia Corp. put New 20,000 $3.7M CHWY Chewy Inc. Class A put Sold out 70,000 $3.0Mbefore exit SOUN Soundhound AI Inc. Class A put New 50,000 $804K
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 31 $849.8M MU, BRK.A, GLD, AMZN, TLT Q1 2026 35 $764.5M MU, BRK.A, GDX, TLT, GLD Q4 2025 28 $747.7M MU, BRK.A, GLD, TLT, GDX Q3 2025 29 $651.6M BRK.A, GDX, MU, GLD, NVDA Q2 2025 30 $572.9M BRK.A, AMZN, MU, NVDA, GLD Q1 2025 31 $591.2M BRK.A, AMZN, TLT, GLD, LH Q4 2024 30 $648.3M BRK.A, TLT, AMZN, GLD, NVDA Q3 2024 30 $1.1B BRK.A, TLT, BRK.B, NVDA, GLD Q2 2024 34 $1.1B BRK.A, TLT, GLD, MU, NVDA Q1 2024 36 $1.1B BRK.A, MU, TLT, GLD, NVDA