Aldebaran Capital, LLC Long-Term Concentrated

CIK: 0001448430 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 12, 2026

Total Value ($000): $111,522 (100.0% shares, 0.0% debt)

Holdings (35)

New Positions (3)

MOH MOLINA HEALTHCARE INC 2.0%

Value ($000) $2,195 Shares 12,651 Est. Cost $164.37 Unrealized 0.0%

KZR KEZAR LIFE SCIENCES INC 0.5%

Value ($000) $507 Shares 80,630 Est. Cost $5.83 Unrealized 0.0%

AVIR ATEA PHARMACEUTICALS INC 0.3%

Value ($000) $323 Shares 90,529 Est. Cost $3.18 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MOH	MOLINA HEALTHCARE INC	12,651	$2,195	2.0%	$164.37	0.0%	COM	60855R100
KZR	KEZAR LIFE SCIENCES INC	80,630	$507	0.5%	$5.83	0.0%	COM NEW	49372L209
AVIR	ATEA PHARMACEUTICALS INC	90,529	$323	0.3%	$3.18	0.0%	COM	04683R106

Increased Positions (3)

LLY LILLY ELI & CO 8.7%

Value ($000) $9,707 (+63.5%) Shares 9,032 (+16.0%) Est. Cost $430.11 Unrealized +122.2%

CATO CATO CORP NEW 2.9%

Value ($000) $3,221 (-25.8%) Shares 1,042,448 (+1.1%) Est. Cost $7.25 Unrealized -49.3%

IWS ISHARES TR RUS MDCP VAL 5.1%

Value ($000) $5,667 (+3.2%) Shares 40,177 (+2.2%) Est. Cost $126.08 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LLY	LILLY ELI & CO	9,032 (+16.0%)	$9,707 (+63.5%)	8.7%	$430.11	+122.2%	COM	532457108
CATO	CATO CORP NEW	1,042,448 (+1.1%)	$3,221 (-25.8%)	2.9%	$7.25	-49.3%	CL A	149205106
IWS	ISHARES TR RUS MDCP VAL	40,177 (+2.2%)	$5,667 (+3.2%)	5.1%	$126.08	—	ETF	464287473

Exited Positions (1)

TECK TECK RESOURCES LTD 0.5%

Value ($000) $534 Shares 12,160 Est. Cost $34.62 Unrealized +25.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TECK	TECK RESOURCES LTD	12,160	$534	0.5%	$34.62	+25.1%	—	878742204

Decreased Positions (24)

OXY OCCIDENTAL PETE CORP 5.9%

Value ($000) $6,564 (-17.5%) Shares 159,634 (-5.2%) Est. Cost $63.79 Unrealized -34.9%

MSFT MICROSOFT CORP 7.9%

Value ($000) $8,773 (-10.8%) Shares 18,140 (-4.5%) Est. Cost $234.05 Unrealized +113.9%

ACRS ACLARIS THERAPEUTICS INC 2.6%

Value ($000) $2,872 (+53.1%) Shares 954,262 (-3.4%) Est. Cost $1.18 Unrealized +113.4%

BRK/B BERKSHIRE HATHAWAY INC DEL 18.1%

Value ($000) $20,200 (-4.1%) Shares 40,187 (-4.1%) Est. Cost $296.98 Unrealized +67.5%

CENX CENTURY ALUM CO 2.0%

Value ($000) $2,261 (+29.3%) Shares 57,700 (-3.1%) Est. Cost $7.55 Unrealized +313.6%

SIRI SIRIUS XM HOLDINGS INC 1.9%

Value ($000) $2,126 (-18.5%) Shares 106,347 (-5.1%) Est. Cost $23.77 Unrealized -9.6%

BG BUNGE LIMITED 7.5%

Value ($000) $8,373 (+5.9%) Shares 93,995 (-3.4%) Est. Cost $99.54 Unrealized -7.7%

FCX FREEPORT-MCMORAN INC 2.2%

Value ($000) $2,480 (+22.2%) Shares 48,835 (-5.6%) Est. Cost $35.79 Unrealized +21.0%

BCI ABRDN ETFS 2.5%

Value ($000) $2,813 (-12.4%) Shares 144,053 (-3.4%) Est. Cost $22.06 Unrealized —

AMLX AMYLYX PHARMACEUTICALS INC 2.2%

Value ($000) $2,398 (-13.7%) Shares 198,508 (-2.9%) Est. Cost $1.94 Unrealized +600.9%

VZ VERIZON COMMUNICATIONS INC 2.2%

Value ($000) $2,442 (-12.4%) Shares 59,948 (-5.4%) Est. Cost $35.07 Unrealized +15.4%

CVX CHEVRON CORP NEW 3.6%

Value ($000) $4,042 (-5.6%) Shares 26,521 (-3.8%) Est. Cost $152.23 Unrealized -0.5%

BAC BANK AMERICA CORP 5.2%

Value ($000) $5,792 (+3.3%) Shares 105,312 (-3.1%) Est. Cost $31.71 Unrealized +66.1%

TECX TECTONIC THERAPEUTIC INC 0.7%

Value ($000) $779 (+29.0%) Shares 37,353 (-3.0%) Est. Cost $15.77 Unrealized +17.8%

ENB ENBRIDGE INC 1.7%

Value ($000) $1,918 (-8.2%) Shares 40,109 (-3.1%) Est. Cost $31.84 Unrealized +47.9%

RELL RICHARDSON ELECTRS LTD 1.2%

Value ($000) $1,294 (-8.0%) Shares 118,979 (-17.2%) Est. Cost $21.13 Unrealized -50.0%

SU SUNCOR ENERGY INC NEW 4.6%

Value ($000) $5,115 (+2.2%) Shares 115,311 (-3.7%) Est. Cost $29.13 Unrealized +45.1%

PMVP PMV PHARMACEUTICALS INC 0.5%

Value ($000) $597 (-15.3%) Shares 477,988 (-5.2%) Est. Cost $1.72 Unrealized -21.9%

— AN2 THEREAPEUTICS INC 0.4%

Value ($000) $430 (-13.9%) Shares 376,770 (-4.1%) Est. Cost $1.06 Unrealized —

PATK PATRICK INDS INC 1.3%

Value ($000) $1,504 (+2.6%) Shares 13,872 (-2.1%) Est. Cost $50.71 Unrealized +106.4%

IMA IMAGENEBIO INC 0.1%

Value ($000) $132 (-17.5%) Shares 19,070 (-2.5%) Est. Cost $13.25 Unrealized -44.1%

F FORD MTR CO DEL 0.3%

Value ($000) $361 (+7.2%) Shares 27,500 (-2.3%) Est. Cost $10.02 Unrealized +28.0%

JPM JPMORGAN CHASE & CO 3.3%

Value ($000) $3,635 (+0.4%) Shares 11,282 (-1.7%) Est. Cost $117.65 Unrealized +163.1%

OKUR ONKURE THERAPEUTICS INC 0.1%

Value ($000) $120 (-1.0%) Shares 41,284 (-6.2%) Est. Cost $15.14 Unrealized -80.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
OXY	OCCIDENTAL PETE CORP	159,634 (-5.2%)	$6,564 (-17.5%)	5.9%	$63.79	-34.9%	COM	674599105
MSFT	MICROSOFT CORP	18,140 (-4.5%)	$8,773 (-10.8%)	7.9%	$234.05	+113.9%	COM	594918104
ACRS	ACLARIS THERAPEUTICS INC	954,262 (-3.4%)	$2,872 (+53.1%)	2.6%	$1.18	+113.4%	COM	00461U105
BRK/B	BERKSHIRE HATHAWAY INC DEL	40,187 (-4.1%)	$20,200 (-4.1%)	18.1%	$296.98	+67.5%	CL B NEW	084670702
CENX	CENTURY ALUM CO	57,700 (-3.1%)	$2,261 (+29.3%)	2.0%	$7.55	+313.6%	COM	156431108
SIRI	SIRIUS XM HOLDINGS INC	106,347 (-5.1%)	$2,126 (-18.5%)	1.9%	$23.77	-9.6%	COMMON STOCK	829933100
BG	BUNGE LIMITED	93,995 (-3.4%)	$8,373 (+5.9%)	7.5%	$99.54	-7.7%	COM	H11356104
FCX	FREEPORT-MCMORAN INC	48,835 (-5.6%)	$2,480 (+22.2%)	2.2%	$35.79	+21.0%	CL B	35671D857
BCI	ABRDN ETFS	144,053 (-3.4%)	$2,813 (-12.4%)	2.5%	$22.06	—	BBRG ALL COMD K1	003261104
AMLX	AMYLYX PHARMACEUTICALS INC	198,508 (-2.9%)	$2,398 (-13.7%)	2.2%	$1.94	+600.9%	COM	03237H101
VZ	VERIZON COMMUNICATIONS INC	59,948 (-5.4%)	$2,442 (-12.4%)	2.2%	$35.07	+15.4%	COM	92343V104
CVX	CHEVRON CORP NEW	26,521 (-3.8%)	$4,042 (-5.6%)	3.6%	$152.23	-0.5%	COM	166764100
BAC	BANK AMERICA CORP	105,312 (-3.1%)	$5,792 (+3.3%)	5.2%	$31.71	+66.1%	COM	060505104
TECX	TECTONIC THERAPEUTIC INC	37,353 (-3.0%)	$779 (+29.0%)	0.7%	$15.77	+17.8%	COM	878972108
ENB	ENBRIDGE INC	40,109 (-3.1%)	$1,918 (-8.2%)	1.7%	$31.84	+47.9%	COM	29250N105
RELL	RICHARDSON ELECTRS LTD	118,979 (-17.2%)	$1,294 (-8.0%)	1.2%	$21.13	-50.0%	COM	763165107
SU	SUNCOR ENERGY INC NEW	115,311 (-3.7%)	$5,115 (+2.2%)	4.6%	$29.13	+45.1%	COM	867224107
PMVP	PMV PHARMACEUTICALS INC	477,988 (-5.2%)	$597 (-15.3%)	0.5%	$1.72	-21.9%	COM	69353Y103
—	AN2 THEREAPEUTICS INC	376,770 (-4.1%)	$430 (-13.9%)	0.4%	$1.06	—	COM	373261056
PATK	PATRICK INDS INC	13,872 (-2.1%)	$1,504 (+2.6%)	1.3%	$50.71	+106.4%	COM	703343103
IMA	IMAGENEBIO INC	19,070 (-2.5%)	$132 (-17.5%)	0.1%	$13.25	-44.1%	COM	45175G207
F	FORD MTR CO DEL	27,500 (-2.3%)	$361 (+7.2%)	0.3%	$10.02	+28.0%	COM	345370860
JPM	JPMORGAN CHASE & CO	11,282 (-1.7%)	$3,635 (+0.4%)	3.3%	$117.65	+163.1%	COM	46625H100
OKUR	ONKURE THERAPEUTICS INC	41,284 (-6.2%)	$120 (-1.0%)	0.1%	$15.14	-80.2%	COM CL A	68277Q105

Unchanged Positions (5)

— DUKE ENERGY CORP NEW 0.4%

Value ($000) $422 Shares 3,600 Est. Cost $102.99 Unrealized —

MBIN MERCHANTS BANCORP IND 0.3%

Value ($000) $345 Shares 10,125 Est. Cost $23.54 Unrealized +39.2%

GEV GE VERNOVA INC 0.2%

Value ($000) $217 Shares 332 Est. Cost $605.52 Unrealized +0.6%

— GENERAL ELECTRIC CO 0.3%

Value ($000) $385 Shares 1,251 Est. Cost $158.97 Unrealized —

BRK/A BERKSHIRE HATHAWAY INC DEL 1.4%

Value ($000) $1,510 Shares 2 Est. Cost $448761.72 Unrealized +66.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	DUKE ENERGY CORP NEW	3,600	$422	0.4%	$102.99	—	COM NEW	26441C105
MBIN	MERCHANTS BANCORP IND	10,125	$345	0.3%	$23.54	+39.2%	COM	58844R108
GEV	GE VERNOVA INC	332	$217	0.2%	$605.52	+0.6%	COM	36828A101
—	GENERAL ELECTRIC CO	1,251	$385	0.3%	$158.97	—	COM	369604103
BRK/A	BERKSHIRE HATHAWAY INC DEL	2	$1,510	1.4%	$448761.72	+66.3%	CL A	084670108