PARK CIRCLE Co Diversified Active

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $115,605 (100.0% shares, 0.0% debt)

Holdings (51)

New Positions (1)

Value ($000) $637 Shares 10,000 Est. Cost $64.91 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NKE	NIKE INC	10,000	$637	0.6%	$64.91	0.0%	CL B	654106103

Increased Positions (2)

VZ VERIZON COMMUNICATIONS INC 6.0%

Value ($000) $6,979 (+15.7%) Shares 171,340 (+24.9%) Est. Cost $33.29 Unrealized +21.6%

— NVIDIA CORP 3.4%

Value ($000) $3,917 (+16.6%) Shares 21,000 (+16.7%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VZ	VERIZON COMMUNICATIONS INC	171,340 (+24.9%)	$6,979 (+15.7%)	6.0%	$33.29	+21.6%	COM	92343V104
—	NVIDIA CORP	21,000 (+16.7%)	$3,917 (+16.6%)	3.4%	—	—	PUT	67066G954

Exited Positions (19)

PBI PITNEY BOWES INC 2.4%

Value ($000) $2,801 Shares 245,505 Est. Cost $6.46 Unrealized +60.7%

TU TELUS CORP 1.3%

Value ($000) $1,531 Shares 97,078 Est. Cost $18.06 Unrealized -22.0%

KMX CARMAX INC 0.6%

Value ($000) $689 Shares 15,350 Est. Cost $69.46 Unrealized -42.4%

BXSL BLACKSTONE SECD LENDING FD 0.5%

Value ($000) $626 Shares 24,000 Est. Cost $21.91 Unrealized +19.1%

OBDC BLUE OWL CAPITAL CORPORATION 0.3%

Value ($000) $396 Shares 31,006 Est. Cost $12.38 Unrealized -0.3%

NWBI NORTHWEST BANCSHARES INC 0.3%

Value ($000) $320 Shares 25,850 Est. Cost $8.48 Unrealized +40.3%

TFSL TFS FINL CORP 0.1%

Value ($000) $131 Shares 9,905 Est. Cost $10.84 Unrealized +24.7%

PG PROCTER AND GAMBLE CO 0.1%

Value ($000) $61 Shares 400 Est. Cost $61.80 Unrealized +138.1%

LMT LOCKHEED MARTIN CORP 0.0%

Value ($000) $50 Shares 100 Est. Cost $308.96 Unrealized +54.1%

CVS CVS HEALTH CORP 0.0%

Value ($000) $45 Shares 600 Est. Cost $48.36 Unrealized +62.7%

AMD ADVANCED MICRO DEVICES INC 0.0%

Value ($000) $32 Shares 200 Est. Cost $111.19 Unrealized +102.0%

— GLAXOSMITHKLINE PLC 0.0%

Value ($000) $21 Shares 480 Est. Cost $43.21 Unrealized —

SPRY ARS PHARMACEUTICALS INC 0.0%

Value ($000) $20 Shares 2,000 Est. Cost $6.56 Unrealized +48.2%

GNRC GENERAC HLDGS INC 0.0%

Value ($000) $17 Shares 100 Est. Cost $115.68 Unrealized +39.5%

BBY BEST BUY INC 0.0%

Value ($000) $15 Shares 200 Est. Cost $65.40 Unrealized +15.4%

AQST AQUESTIVE THERAPEUTICS 0.0%

Value ($000) $14 Shares 2,500 Est. Cost $4.50 Unrealized +38.6%

EXAS EXACT SCIENCES CORP 0.0%

Value ($000) $11 Shares 200 Est. Cost $55.02 Unrealized +45.9%

HLN HALEON PLC 0.0%

Value ($000) $5 Shares 600 Est. Cost $6.00 Unrealized —

ANIX ANIXA BIOSCIENCES INC 0.0%

Value ($000) $2 Shares 500 Est. Cost $3.50 Unrealized +17.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PBI	PITNEY BOWES INC	245,505	$2,801	2.4%	$6.46	+60.7%	—	724479100
TU	TELUS CORP	97,078	$1,531	1.3%	$18.06	-22.0%	—	87971M103
KMX	CARMAX INC	15,350	$689	0.6%	$69.46	-42.4%	—	143130102
BXSL	BLACKSTONE SECD LENDING FD	24,000	$626	0.5%	$21.91	+19.1%	—	09261X102
OBDC	BLUE OWL CAPITAL CORPORATION	31,006	$396	0.3%	$12.38	-0.3%	—	69121K104
NWBI	NORTHWEST BANCSHARES INC	25,850	$320	0.3%	$8.48	+40.3%	—	667340103
TFSL	TFS FINL CORP	9,905	$131	0.1%	$10.84	+24.7%	—	87240R107
PG	PROCTER AND GAMBLE CO	400	$61	0.1%	$61.80	+138.1%	—	742718109
LMT	LOCKHEED MARTIN CORP	100	$50	0.0%	$308.96	+54.1%	—	539830109
CVS	CVS HEALTH CORP	600	$45	0.0%	$48.36	+62.7%	—	126650100
AMD	ADVANCED MICRO DEVICES INC	200	$32	0.0%	$111.19	+102.0%	—	007903107
—	GLAXOSMITHKLINE PLC	480	$21	0.0%	$43.21	—	—	37733W105
SPRY	ARS PHARMACEUTICALS INC	2,000	$20	0.0%	$6.56	+48.2%	—	82835W108
GNRC	GENERAC HLDGS INC	100	$17	0.0%	$115.68	+39.5%	—	368736104
BBY	BEST BUY INC	200	$15	0.0%	$65.40	+15.4%	—	086516101
AQST	AQUESTIVE THERAPEUTICS	2,500	$14	0.0%	$4.50	+38.6%	—	03843E104
EXAS	EXACT SCIENCES CORP	200	$11	0.0%	$55.02	+45.9%	—	30063P105
HLN	HALEON PLC	600	$5	0.0%	$6.00	—	—	405552100
ANIX	ANIXA BIOSCIENCES INC	500	$2	0.0%	$3.50	+17.0%	—	03528H109

Decreased Positions (3)

TROW PRICE T ROWE GROUP INC 3.9%

Value ($000) $4,509 (-21.6%) Shares 44,041 (-21.4%) Est. Cost $81.90 Unrealized +24.8%

TD TORONTO DOMINION BK ONT 1.9%

Value ($000) $2,204 (+13.9%) Shares 23,400 (-3.3%) Est. Cost $45.58 Unrealized +85.3%

QCOM QUALCOMM INC 0.1%

Value ($000) $103 (-38.3%) Shares 600 (-40.0%) Est. Cost $89.37 Unrealized +91.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TROW	PRICE T ROWE GROUP INC	44,041 (-21.4%)	$4,509 (-21.6%)	3.9%	$81.90	+24.8%	COM	74144T108
TD	TORONTO DOMINION BK ONT	23,400 (-3.3%)	$2,204 (+13.9%)	1.9%	$45.58	+85.3%	COM NEW	891160509
QCOM	QUALCOMM INC	600 (-40.0%)	$103 (-38.3%)	0.1%	$89.37	+91.1%	COM	747525103

Unchanged Positions (45)

GS GOLDMAN SACHS GROUP 8.6%

Value ($000) $9,889 Shares 11,250 Est. Cost $133.70 Unrealized +508.3%

MO ALTRIA GROUP INC 4.3%

Value ($000) $4,962 Shares 86,050 Est. Cost $30.64 Unrealized +93.8%

TRV TRAVELERS COMPANIES INC 11.2%

Value ($000) $13,002 Shares 44,825 Est. Cost $64.62 Unrealized +334.3%

CM CDN IMPERIAL BK COMM TORONTO 2.2%

Value ($000) $2,537 Shares 28,000 Est. Cost $35.95 Unrealized +138.7%

ORI OLD REP INTL CORP 3.1%

Value ($000) $3,606 Shares 79,000 Est. Cost $17.24 Unrealized +136.8%

ABBV ABBVIE INC 14.3%

Value ($000) $16,564 Shares 72,495 Est. Cost $86.53 Unrealized +163.0%

AAPL APPLE INC 2.6%

Value ($000) $2,963 Shares 10,900 Est. Cost $140.70 Unrealized +90.7%

VRTX VERTEX PHARMACEUTICALS INC 1.1%

Value ($000) $1,253 Shares 2,764 Est. Cost $369.42 Unrealized +16.7%

— BLACKSTONE GROUP LP 1.3%

Value ($000) $1,464 Shares 9,500 Est. Cost $44.45 Unrealized —

WU WESTERN UN CO 0.8%

Value ($000) $959 Shares 103,010 Est. Cost $7.99 Unrealized —

MC MOELIS & CO 3.0%

Value ($000) $3,449 Shares 50,176 Est. Cost $30.21 Unrealized +117.7%

CG CARLYLE GROUP INC 1.8%

Value ($000) $2,055 Shares 34,765 Est. Cost $25.46 Unrealized +121.1%

COLB COLUMBIA BKG SYS INC 1.3%

Value ($000) $1,520 Shares 54,400 Est. Cost $17.32 Unrealized +55.1%

PRU PRUDENTIAL FINANCIAL INC 1.1%

Value ($000) $1,325 Shares 11,740 Est. Cost $85.75 Unrealized +24.2%

BMY BRISTOL MYERS SQUIBB CO 0.5%

Value ($000) $631 Shares 11,700 Est. Cost $43.65 Unrealized +8.9%

XOM EXXON MOBIL CORP 1.4%

Value ($000) $1,621 Shares 13,468 Est. Cost $30.36 Unrealized +280.4%

IBM INTERNATIONAL BUSINESS MACHS 1.8%

Value ($000) $2,103 Shares 7,100 Est. Cost $96.22 Unrealized +210.5%

BNS BANK NOVA SCOTIA HALIFAX 0.7%

Value ($000) $774 Shares 10,500 Est. Cost $48.65 Unrealized +39.7%

SUN SUNOCO LP / SUNOCO FIN CORP 1.6%

Value ($000) $1,905 Shares 36,350 Est. Cost $37.55 Unrealized —

TFC TRUIST FINL CORP 0.9%

Value ($000) $1,097 Shares 22,285 Est. Cost $32.26 Unrealized +42.0%

PFE PFIZER INC 2.6%

Value ($000) $3,055 Shares 122,705 Est. Cost $23.45 Unrealized +6.8%

HAS HASBRO INC 0.7%

Value ($000) $820 Shares 10,000 Est. Cost $61.59 Unrealized +26.7%

LNC LINCOLN NATL CORP IND 0.6%

Value ($000) $639 Shares 14,360 Est. Cost $33.76 Unrealized +22.0%

— TOTALENERGIES SE 0.6%

Value ($000) $654 Shares 10,000 Est. Cost $45.30 Unrealized —

RBLX ROBLOX CORP 0.1%

Value ($000) $65 Shares 800 Est. Cost $35.60 Unrealized +198.2%

TSLX SIXTH STREET SPECIALITY LENDN 0.8%

Value ($000) $872 Shares 40,145 Est. Cost $21.12 Unrealized +3.3%

NLY ANNALY CAPITAL MANAGEMENT IN 0.4%

Value ($000) $447 Shares 20,000 Est. Cost $18.82 Unrealized —

ENB ENBRIDGE INC 0.6%

Value ($000) $641 Shares 13,400 Est. Cost $20.25 Unrealized +132.7%

CPT CAMDEN PPTY TR 0.9%

Value ($000) $1,024 Shares 9,300 Est. Cost $85.20 Unrealized +21.1%

PM PHILIP MORRIS INTL INC 2.2%

Value ($000) $2,525 Shares 15,745 Est. Cost $56.59 Unrealized +171.4%

ETSY ETSY INC 0.1%

Value ($000) $139 Shares 2,500 Est. Cost $10.63 Unrealized +474.2%

SBUX STARBUCKS CORP 5.0%

Value ($000) $5,778 Shares 68,620 Est. Cost $35.11 Unrealized +139.4%

MKC MCCORMICK & CO INC 1.0%

Value ($000) $1,148 Shares 16,850 Est. Cost $64.75 Unrealized +1.8%

GEHC GE HEALTHCARE TECHNOLOGIES 0.2%

Value ($000) $239 Shares 2,916 Est. Cost $71.08 Unrealized +9.6%

AVGO BROADCOM INC 0.3%

Value ($000) $346 Shares 1,000 Est. Cost $144.63 Unrealized +146.8%

MS MORGAN STANLEY 0.1%

Value ($000) $142 Shares 800 Est. Cost $77.05 Unrealized +116.1%

JPM JPMORGAN CHASE & CO 0.4%

Value ($000) $419 Shares 1,300 Est. Cost $106.24 Unrealized +191.3%

SHOP SHOPIFY INC 0.1%

Value ($000) $105 Shares 650 Est. Cost $42.46 Unrealized +278.1%

ADT ADT INC 0.0%

Value ($000) $56 Shares 6,946 Est. Cost $6.80 Unrealized +21.7%

SPH SUBURBAN PROPANE PARTNERS L 0.5%

Value ($000) $612 Shares 33,000 Est. Cost $15.36 Unrealized —

ARCC ARES CAP CORP 0.3%

Value ($000) $405 Shares 20,000 Est. Cost $7.90 Unrealized +150.6%

PLTR PALANTIR TECHNOLOGIES 0.1%

Value ($000) $89 Shares 500 Est. Cost $14.39 Unrealized +1157.8%

NVDA NVIDIA CORP 2.3%

Value ($000) $2,611 Shares 14,000 Est. Cost $92.51 Unrealized +101.2%

— NVIDIA CORP 0.6%

Value ($000) $746 Shares 4,000 Est. Cost — Unrealized —

— DESKTOP METAL INC 0.0%

Value ($000) $1 Shares 200 Est. Cost $2.30 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GS	GOLDMAN SACHS GROUP	11,250	$9,889	8.6%	$133.70	+508.3%	COM	38141G104
MO	ALTRIA GROUP INC	86,050	$4,962	4.3%	$30.64	+93.8%	COM	02209S103
TRV	TRAVELERS COMPANIES INC	44,825	$13,002	11.2%	$64.62	+334.3%	COM	89417E109
CM	CDN IMPERIAL BK COMM TORONTO	28,000	$2,537	2.2%	$35.95	+138.7%	COM	136069101
ORI	OLD REP INTL CORP	79,000	$3,606	3.1%	$17.24	+136.8%	COM	680223104
ABBV	ABBVIE INC	72,495	$16,564	14.3%	$86.53	+163.0%	COM	00287Y109
AAPL	APPLE INC	10,900	$2,963	2.6%	$140.70	+90.7%	COM	037833100
VRTX	VERTEX PHARMACEUTICALS INC	2,764	$1,253	1.1%	$369.42	+16.7%	COM	92532F100
—	BLACKSTONE GROUP LP	9,500	$1,464	1.3%	$44.45	—	COM UNIT LTD	09253U108
WU	WESTERN UN CO	103,010	$959	0.8%	$7.99	—	COM	959802109
MC	MOELIS & CO	50,176	$3,449	3.0%	$30.21	+117.7%	CL A	60786M105
CG	CARLYLE GROUP INC	34,765	$2,055	1.8%	$25.46	+121.1%	COM	14316J108
COLB	COLUMBIA BKG SYS INC	54,400	$1,520	1.3%	$17.32	+55.1%	COM	197236102
PRU	PRUDENTIAL FINANCIAL INC	11,740	$1,325	1.1%	$85.75	+24.2%	COM	744320102
BMY	BRISTOL MYERS SQUIBB CO	11,700	$631	0.5%	$43.65	+8.9%	COM	110122108
XOM	EXXON MOBIL CORP	13,468	$1,621	1.4%	$30.36	+280.4%	COM	30231G102
IBM	INTERNATIONAL BUSINESS MACHS	7,100	$2,103	1.8%	$96.22	+210.5%	COM	459200101
BNS	BANK NOVA SCOTIA HALIFAX	10,500	$774	0.7%	$48.65	+39.7%	COM	064149107
SUN	SUNOCO LP / SUNOCO FIN CORP	36,350	$1,905	1.6%	$37.55	—	COM UT REP LP	86765K109
TFC	TRUIST FINL CORP	22,285	$1,097	0.9%	$32.26	+42.0%	COM	89832Q109
PFE	PFIZER INC	122,705	$3,055	2.6%	$23.45	+6.8%	COM	717081103
HAS	HASBRO INC	10,000	$820	0.7%	$61.59	+26.7%	COM	418056107
LNC	LINCOLN NATL CORP IND	14,360	$639	0.6%	$33.76	+22.0%	COM	534187109
—	TOTALENERGIES SE	10,000	$654	0.6%	$45.30	—	SPONSORED ADS	89151E109
RBLX	ROBLOX CORP	800	$65	0.1%	$35.60	+198.2%	CL A	771049103
TSLX	SIXTH STREET SPECIALITY LENDN	40,145	$872	0.8%	$21.12	+3.3%	COM	83012A109
NLY	ANNALY CAPITAL MANAGEMENT IN	20,000	$447	0.4%	$18.82	—	COM NEW	035710839
ENB	ENBRIDGE INC	13,400	$641	0.6%	$20.25	+132.7%	COM	29250N105
CPT	CAMDEN PPTY TR	9,300	$1,024	0.9%	$85.20	+21.1%	SH BEN INT	133131102
PM	PHILIP MORRIS INTL INC	15,745	$2,525	2.2%	$56.59	+171.4%	COM	718172109
ETSY	ETSY INC	2,500	$139	0.1%	$10.63	+474.2%	COM	29786A106
SBUX	STARBUCKS CORP	68,620	$5,778	5.0%	$35.11	+139.4%	COM	855244109
MKC	MCCORMICK & CO INC	16,850	$1,148	1.0%	$64.75	+1.8%	COM NON VTG	579780206
GEHC	GE HEALTHCARE TECHNOLOGIES	2,916	$239	0.2%	$71.08	+9.6%	COM	36266G107
AVGO	BROADCOM INC	1,000	$346	0.3%	$144.63	+146.8%	COM	11135F101
MS	MORGAN STANLEY	800	$142	0.1%	$77.05	+116.1%	COM NEW	617446448
JPM	JPMORGAN CHASE & CO	1,300	$419	0.4%	$106.24	+191.3%	COM	46625H100
SHOP	SHOPIFY INC	650	$105	0.1%	$42.46	+278.1%	CL A	82509L107
ADT	ADT INC	6,946	$56	0.0%	$6.80	+21.7%	COM	00090Q103
SPH	SUBURBAN PROPANE PARTNERS L	33,000	$612	0.5%	$15.36	—	UNIT LTD PARTN	864482104
ARCC	ARES CAP CORP	20,000	$405	0.3%	$7.90	+150.6%	COM	04010L103
PLTR	PALANTIR TECHNOLOGIES	500	$89	0.1%	$14.39	+1157.8%	CL A COM	69608A108
NVDA	NVIDIA CORP	14,000	$2,611	2.3%	$92.51	+101.2%	COM	67066G104
—	NVIDIA CORP	4,000	$746	0.6%	—	—	CALL	67066G904
—	DESKTOP METAL INC	200	$1	0.0%	$2.30	—	COM CL A	25058X105