PSquared Asset Management AG Quant / Systematic

CIK: 0001623624 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $213,890 (100.0% shares, 0.0% debt)

Holdings (12)

New Positions (10)

WBD WARNER BROS DISCOVERY INC 20.8%

Value ($000) $44,408 Shares 1,540,876 Est. Cost $23.37 Unrealized 0.0%

NSC NORFOLK SOUTHN CORP 12.4%

Value ($000) $26,580 Shares 92,063 Est. Cost $288.62 Unrealized 0.0%

GTLS CHART INDS INC 10.7%

Value ($000) $22,820 Shares 110,654 Est. Cost $202.64 Unrealized 0.0%

COMP COMPASS INC 8.7%

Value ($000) $18,511 Shares 1,751,304 Est. Cost $9.12 Unrealized 0.0%

BL BLACKLINE INC 7.9%

Value ($000) $16,840 Shares 304,576 Est. Cost $55.08 Unrealized 0.0%

FOLD AMICUS THERAPEUTICS INC 7.0%

Value ($000) $14,952 Shares 1,050,000 Est. Cost $9.82 Unrealized 0.0%

DBRG DIGITALBRIDGE GROUP INC 6.0%

Value ($000) $12,918 Shares 846,500 Est. Cost $12.01 Unrealized 0.0%

RNA AVIDITY BIOSCIENCES INC 5.7%

Value ($000) $12,148 Shares 168,415 Est. Cost $64.59 Unrealized 0.0%

PRA PROASSURANCE CORP 3.9%

Value ($000) $8,365 Shares 346,234 Est. Cost $24.04 Unrealized 0.0%

ABVX ABIVAX SA 0.1%

Value ($000) $192 Shares 240 Est. Cost $800.00 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WBD	WARNER BROS DISCOVERY INC	1,540,876	$44,408	20.8%	$23.37	0.0%	COM SER A	934423104
NSC	NORFOLK SOUTHN CORP	92,063	$26,580	12.4%	$288.62	0.0%	COM	655844108
GTLS	CHART INDS INC	110,654	$22,820	10.7%	$202.64	0.0%	COM	16115Q308
COMP	COMPASS INC	1,751,304	$18,511	8.7%	$9.12	0.0%	CL A	20464U100
BL	BLACKLINE INC	304,576	$16,840	7.9%	$55.08	0.0%	COM	09239B109
FOLD	AMICUS THERAPEUTICS INC	1,050,000	$14,952	7.0%	$9.82	0.0%	COM	03152W109
DBRG	DIGITALBRIDGE GROUP INC	846,500	$12,918	6.0%	$12.01	0.0%	CL A NEW	25401T603
RNA	AVIDITY BIOSCIENCES INC	168,415	$12,148	5.7%	$64.59	0.0%	COM	05370A108
PRA	PROASSURANCE CORP	346,234	$8,365	3.9%	$24.04	0.0%	COM	74267C106
ABVX	ABIVAX SA	240	$192	0.1%	$800.00	—	SPONSORED ADS	00370M103

Increased Positions (1)

FWRD FORWARD AIR CORP 2.1%

Value ($000) $4,394 (+147.3%) Shares 175,760 (+153.6%) Est. Cost $24.98 Unrealized -9.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FWRD	FORWARD AIR CORP	175,760 (+153.6%)	$4,394 (+147.3%)	2.1%	$24.98	-9.9%	COM	34986A104

Exited Positions (7)

— KELLANOVA 20.0%

Value ($000) $42,774 Shares 521,504 Est. Cost $79.80 Unrealized +3.6%

TECK TECK RESOURCES LTD 8.9%

Value ($000) $18,985 Shares 432,566 Est. Cost $36.34 Unrealized +19.2%

TASK TASKUS INC 5.3%

Value ($000) $11,336 Shares 635,084 Est. Cost $17.30 Unrealized -26.1%

HOLX HOLOGIC INC 3.9%

Value ($000) $8,424 Shares 124,813 Est. Cost $61.22 Unrealized +19.3%

CORZ CORE SCIENTIFIC INC NEW 3.4%

Value ($000) $7,280 Shares 405,800 Est. Cost $14.67 Unrealized +18.9%

BHF BRIGHTHOUSE FINL INC 2.5%

Value ($000) $5,255 Shares 99,000 Est. Cost $48.82 Unrealized +20.4%

— WNS HLDGS LTD 2.4%

Value ($000) $5,099 Shares 66,850 Est. Cost $76.27 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	KELLANOVA	521,504	$42,774	20.0%	$79.80	+3.6%	—	487836108
TECK	TECK RESOURCES LTD	432,566	$18,985	8.9%	$36.34	+19.2%	—	878742204
TASK	TASKUS INC	635,084	$11,336	5.3%	$17.30	-26.1%	—	87652V109
HOLX	HOLOGIC INC	124,813	$8,424	3.9%	$61.22	+19.3%	—	436440101
CORZ	CORE SCIENTIFIC INC NEW	405,800	$7,280	3.4%	$14.67	+18.9%	—	21874A106
BHF	BRIGHTHOUSE FINL INC	99,000	$5,255	2.5%	$48.82	+20.4%	—	10922N103
—	WNS HLDGS LTD	66,850	$5,099	2.4%	$76.27	—	—	G98196101

Unchanged Positions (1)

SLSR SOLARIS RES INC 14.8%

Value ($000) $31,761 Shares 3,963,015 Est. Cost $3.49 Unrealized +98.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SLSR	SOLARIS RES INC	3,963,015	$31,761	14.8%	$3.49	+98.5%	COM NEW	83419D201