Ancient Art, L.P. Diversified Active

CIK: 0001426749 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $442,081 (100.0% shares, 0.0% debt)

Holdings (11)

Increased Positions (4)

UPWK UPWORK INC 20.8%

Value ($000) $91,981 (+16.0%) Shares 4,640,814 (+8.7%) Est. Cost $13.98 Unrealized +31.2%

TBBB BBB FOODS INC 3.0%

Value ($000) $13,077 (+250.7%) Shares 391,637 (+183.1%) Est. Cost $28.52 Unrealized +4.8%

THRY THRYV HLDGS INC 2.1%

Value ($000) $9,443 (-40.2%) Shares 1,560,908 (+19.2%) Est. Cost $11.93 Unrealized -33.6%

STLA STELLANTIS N.V 8.6%

Value ($000) $38,109 (+18.3%) Shares 3,499,412 (+1.4%) Est. Cost $15.62 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
UPWK	UPWORK INC	4,640,814 (+8.7%)	$91,981 (+16.0%)	20.8%	$13.98	+31.2%	COM	91688F104
TBBB	BBB FOODS INC	391,637 (+183.1%)	$13,077 (+250.7%)	3.0%	$28.52	+4.8%	CL A COM	G0896C103
THRY	THRYV HLDGS INC	1,560,908 (+19.2%)	$9,443 (-40.2%)	2.1%	$11.93	-33.6%	COM NEW	886029206
STLA	STELLANTIS N.V	3,499,412 (+1.4%)	$38,109 (+18.3%)	8.6%	$15.62	—	SHS	N82405106

Exited Positions (1)

INMD INMODE LTD 3.2%

Value ($000) $14,254 Shares 956,630 Est. Cost $14.62 Unrealized +0.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
INMD	INMODE LTD	956,630	$14,254	3.2%	$14.62	+0.6%	—	M5425M103

Decreased Positions (3)

SATS ECHOSTAR CORP 13.9%

Value ($000) $61,566 (+21.0%) Shares 566,389 (-15.0%) Est. Cost $21.97 Unrealized +270.7%

ULCC FRONTIER GROUP HLDGS INC 3.8%

Value ($000) $16,880 (-10.8%) Shares 3,583,803 (-16.3%) Est. Cost $10.09 Unrealized -56.1%

VLRS CONTROLADORA VUELA COMP DE A 3.5%

Value ($000) $15,568 (+10.6%) Shares 1,753,193 (-10.6%) Est. Cost $6.12 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SATS	ECHOSTAR CORP	566,389 (-15.0%)	$61,566 (+21.0%)	13.9%	$21.97	+270.7%	CL A	278768106
ULCC	FRONTIER GROUP HLDGS INC	3,583,803 (-16.3%)	$16,880 (-10.8%)	3.8%	$10.09	-56.1%	COM	35909R108
VLRS	CONTROLADORA VUELA COMP DE A	1,753,193 (-10.6%)	$15,568 (+10.6%)	3.5%	$6.12	—	SPON ADR RP 10	21240E105

Unchanged Positions (4)

LOMA LOMA NEGRA C I A S A MTN 14 4.2%

Value ($000) $18,594 Shares 1,435,809 Est. Cost $6.99 Unrealized —

ALLY ALLY FINL INC 13.4%

Value ($000) $59,257 Shares 1,308,399 Est. Cost $32.69 Unrealized +24.8%

IBKR INTERACTIVE BROKERS GROUP IN 23.9%

Value ($000) $105,702 Shares 1,643,636 Est. Cost $37.16 Unrealized +80.0%

TBN TAMBORAN RES CORP 2.7%

Value ($000) $11,903 Shares 437,142 Est. Cost $21.79 Unrealized +16.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LOMA	LOMA NEGRA C I A S A MTN 14	1,435,809	$18,594	4.2%	$6.99	—	SPONSORED ADS	54150E104
ALLY	ALLY FINL INC	1,308,399	$59,257	13.4%	$32.69	+24.8%	COM	02005N100
IBKR	INTERACTIVE BROKERS GROUP IN	1,643,636	$105,702	23.9%	$37.16	+80.0%	COM CL A	45841N107
TBN	TAMBORAN RES CORP	437,142	$11,903	2.7%	$21.79	+16.7%	COM	87507T101