PARAGON ASSOCIATES & PARAGON ASSOCIATES II JOINT VENTURE Diversified Active

CIK: 0001047859 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 12, 2026

Total Value ($000): $48,396 (100.0% shares, 0.0% debt)

Holdings (12)

New Positions (1)

QQQ INVESCO QQQ TR 12.7%

Value ($000) $6,143 Shares 10,000 Est. Cost $614.31 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	10,000	$6,143	12.7%	$614.31	—	UNIT SER 1	46090E103

Increased Positions (1)

STKL SUNOPTA INC 6.3%

Value ($000) $3,040 (-30.8%) Shares 800,000 (+6.7%) Est. Cost $5.21 Unrealized -12.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
STKL	SUNOPTA INC	800,000 (+6.7%)	$3,040 (-30.8%)	6.3%	$5.21	-12.8%	COM	8676EP108

Exited Positions (1)

AMG AFFILIATED MANAGERS GROUP IN 11.1%

Value ($000) $5,357 Shares 22,467 Est. Cost $220.39 Unrealized +17.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AMG	AFFILIATED MANAGERS GROUP IN	22,467	$5,357	11.1%	$220.39	+17.3%	—	008252108

Decreased Positions (6)

AEM AGNICO EAGLE MINES LTD 17.5%

Value ($000) $8,460 (-37.3%) Shares 49,900 (-37.6%) Est. Cost $57.79 Unrealized +190.5%

NVGS NAVIGATOR HLDGS LTD 10.7%

Value ($000) $5,196 (-32.9%) Shares 300,000 (-40.0%) Est. Cost $14.12 Unrealized +18.1%

BELFB BEL FUSE INC 0.5%

Value ($000) $254 (-82.0%) Shares 1,500 (-85.0%) Est. Cost $63.52 Unrealized +145.9%

CDNA CAREDX INC 14.6%

Value ($000) $7,065 (+14.3%) Shares 375,000 (-11.8%) Est. Cost $16.51 Unrealized +1.5%

QTRX QUANTERIX CORP 0.3%

Value ($000) $159 (-70.9%) Shares 25,000 (-75.2%) Est. Cost $5.32 Unrealized +16.8%

NPKI NPK INTERNATIONAL INC 9.9%

Value ($000) $4,768 (-6.3%) Shares 400,000 (-11.1%) Est. Cost $6.85 Unrealized +78.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AEM	AGNICO EAGLE MINES LTD	49,900 (-37.6%)	$8,460 (-37.3%)	17.5%	$57.79	+190.5%	COM	008474108
NVGS	NAVIGATOR HLDGS LTD	300,000 (-40.0%)	$5,196 (-32.9%)	10.7%	$14.12	+18.1%	SHS	Y62132108
BELFB	BEL FUSE INC	1,500 (-85.0%)	$254 (-82.0%)	0.5%	$63.52	+145.9%	CL B	077347300
CDNA	CAREDX INC	375,000 (-11.8%)	$7,065 (+14.3%)	14.6%	$16.51	+1.5%	COM	14167L103
QTRX	QUANTERIX CORP	25,000 (-75.2%)	$159 (-70.9%)	0.3%	$5.32	+16.8%	COM	74766Q101
NPKI	NPK INTERNATIONAL INC	400,000 (-11.1%)	$4,768 (-6.3%)	9.9%	$6.85	+78.1%	COM SHS	651718504

Unchanged Positions (4)

DMAC DIAMEDICA THERAPEUTICS INC 14.4%

Value ($000) $6,965 Shares 875,000 Est. Cost $3.81 Unrealized +96.1%

IAUX I-80 GOLD CORP 4.5%

Value ($000) $2,190 Shares 1,500,000 Est. Cost $0.73 Unrealized +56.1%

EPSN EPSILON ENERGY LTD 6.2%

Value ($000) $3,016 Shares 650,000 Est. Cost $3.40 Unrealized +40.5%

IRIX IRIDEX CORP 2.4%

Value ($000) $1,140 Shares 1,000,000 Est. Cost $5.26 Unrealized -80.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DMAC	DIAMEDICA THERAPEUTICS INC	875,000	$6,965	14.4%	$3.81	+96.1%	COM NEW	25253X207
IAUX	I-80 GOLD CORP	1,500,000	$2,190	4.5%	$0.73	+56.1%	COM	44955L106
EPSN	EPSILON ENERGY LTD	650,000	$3,016	6.2%	$3.40	+40.5%	COM	294375209
IRIX	IRIDEX CORP	1,000,000	$1,140	2.4%	$5.26	-80.4%	COM	462684101