SMITH THOMAS W Long-Term Concentrated

CIK: 0000926688 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $108,151 (100.0% shares, 0.0% debt)

Holdings (6)

New Positions (1)

BTI BRITISH AMERN TOB PLC 20.8%

Value ($000) $22,506 Shares 397,500 Est. Cost $56.62 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BTI	BRITISH AMERN TOB PLC	397,500	$22,506	20.8%	$56.62	—	SPONSORED ADR	110448107

Exited Positions (1)

— VAPOTHERM INC 0.0%

Value ($000) $43 Shares 17,125 Est. Cost $28.91 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	VAPOTHERM INC	17,125	$43	0.0%	$28.91	—	—	922107107

Decreased Positions (2)

YELP YELP INC 0.2%

Value ($000) $243 (-94.4%) Shares 8,000 (-92.3%) Est. Cost $31.19 Unrealized -1.1%

CACC CREDIT ACCEP CORP MICH 38.9%

Value ($000) $42,083 (-4.9%) Shares 94,898 (-1.4%) Est. Cost $212.15 Unrealized +118.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
YELP	YELP INC	8,000 (-92.3%)	$243 (-94.4%)	0.2%	$31.19	-1.1%	CL A	985817105
CACC	CREDIT ACCEP CORP MICH	94,898 (-1.4%)	$42,083 (-4.9%)	38.9%	$212.15	+118.5%	COM	225310101

Unchanged Positions (3)

W WAYFAIR INC 22.0%

Value ($000) $23,807 Shares 237,100 Est. Cost $51.98 Unrealized +85.0%

WRLD WORLD ACCEP CORPORATION 10.1%

Value ($000) $10,894 Shares 77,600 Est. Cost $84.33 Unrealized +78.5%

CMPR CIMPRESS PLC 8.0%

Value ($000) $8,617 Shares 129,400 Est. Cost $81.82 Unrealized -17.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
W	WAYFAIR INC	237,100	$23,807	22.0%	$51.98	+85.0%	CL A	94419L101
WRLD	WORLD ACCEP CORPORATION	77,600	$10,894	10.1%	$84.33	+78.5%	COM	981419104
CMPR	CIMPRESS PLC	129,400	$8,617	8.0%	$81.82	-17.1%	SHS EURO	G2143T103