Beartown Capital Management, LLC Concentrated Active

CIK: 0001877162 · Show all filings

Period: Q4 2025

Filing Date: Feb 18, 2026

Total Value ($000): $138,365 (100.0% shares, 0.0% debt)

Holdings (43)

WULF TERAWULF INC 16.6%

Value ($000) $22,980 Shares 2,000,000 Est. Cost $13.40 Unrealized 0.0%

SATS ECHOSTAR CORP 11.8%

Value ($000) $16,305 Shares 150,000 Est. Cost $81.43 Unrealized 0.0%

HUT HUT 8 CORP 8.6%

Value ($000) $11,944 Shares 260,000 Est. Cost $44.08 Unrealized 0.0%

CORZ CORE SCIENTIFIC INC NEW 8.4%

Value ($000) $11,648 Shares 800,000 Est. Cost $17.44 Unrealized 0.0%

NBIS NEBIUS GROUP N.V. 8.2%

Value ($000) $11,300 Shares 135,000 Est. Cost $103.64 Unrealized 0.0%

NVRI ENVIRI CORP 5.5%

Value ($000) $7,570 Shares 422,441 Est. Cost $14.90 Unrealized 0.0%

VISN COMMSCOPE HLDG CO INC 5.2%

Value ($000) $7,252 Shares 400,000 Est. Cost $17.25 Unrealized 0.0%

WULF TERAWULF INC 3.3%

Value ($000) $4,596 Shares 400,000 Est. Cost $13.40 Unrealized 0.0%

PRCH PORCH GROUP INC 3.0%

Value ($000) $4,109 Shares 450,000 Est. Cost $12.04 Unrealized 0.0%

ATEX ANTERIX INC 2.3%

Value ($000) $3,165 Shares 145,000 Est. Cost $20.77 Unrealized 0.0%

TDS TELEPHONE & DATA SYS INC 2.2%

Value ($000) $3,075 Shares 75,000 Est. Cost $38.95 Unrealized 0.0%

SEM SELECT MED HLDGS CORP 2.1%

Value ($000) $2,970 Shares 200,000 Est. Cost $14.10 Unrealized 0.0%

CORZ CORE SCIENTIFIC INC NEW 2.1%

Value ($000) $2,912 Shares 200,000 Est. Cost $17.44 Unrealized 0.0%

KW KENNEDY-WILSON HOLDINGS INC 2.1%

Value ($000) $2,901 Shares 300,000 Est. Cost $8.96 Unrealized 0.0%

NRGV ENERGY VAULT HOLDINGS INC 2.0%

Value ($000) $2,766 Shares 600,000 Est. Cost $3.82 Unrealized 0.0%

CBNA CHAIN BRIDGE BANCORP INC 1.9%

Value ($000) $2,626 Shares 75,794 Est. Cost $32.33 Unrealized 0.0%

PRTH PRIORITY TECHNOLOGY HLDGS IN 1.6%

Value ($000) $2,180 Shares 400,000 Est. Cost $6.19 Unrealized 0.0%

FCNCA FIRST CTZNS BANCSHARES INC D 1.6%

Value ($000) $2,146 Shares 1,000 Est. Cost $1883.58 Unrealized 0.0%

CENX CENTURY ALUM CO 1.4%

Value ($000) $1,959 Shares 50,000 Est. Cost $31.24 Unrealized 0.0%

NBIS NEBIUS GROUP N.V. 1.2%

Value ($000) $1,674 Shares 20,000 Est. Cost $103.64 Unrealized 0.0%

KNOP KNOT OFFSHORE PARTNERS LP 1.2%

Value ($000) $1,626 Shares 157,082 Est. Cost $9.66 Unrealized 0.0%

CMTL COMTECH TELECOMMUNICATIONS C 1.0%

Value ($000) $1,332 Shares 251,881 Est. Cost $3.26 Unrealized 0.0%

KNOP KNOT OFFSHORE PARTNERS LP 0.9%

Value ($000) $1,303 Shares 125,900 Est. Cost $9.66 Unrealized 0.0%

BVFL BV FINL INC 0.8%

Value ($000) $1,100 Shares 60,616 Est. Cost $17.21 Unrealized 0.0%

TALK TALKSPACE INC 0.8%

Value ($000) $1,089 Shares 300,000 Est. Cost $3.17 Unrealized 0.0%

SCOR COMSCORE INC 0.6%

Value ($000) $820 Shares 126,207 Est. Cost $7.16 Unrealized 0.0%

AFBI AFFINITY BANCSHARES INC 0.4%

Value ($000) $623 Shares 30,416 Est. Cost $19.58 Unrealized 0.0%

STRZ STARZ ENTERTAINMENT CORP. 0.4%

Value ($000) $585 Shares 50,000 Est. Cost $11.46 Unrealized 0.0%

WALD WALDENCAST PLC 0.4%

Value ($000) $564 Shares 300,000 Est. Cost $2.03 Unrealized 0.0%

FSI FLEXIBLE SOLUTIONS INTL INC 0.4%

Value ($000) $503 Shares 74,754 Est. Cost $7.90 Unrealized 0.0%

MAPS WM TECHNOLOGY INC 0.3%

Value ($000) $469 Shares 568,883 Est. Cost $0.98 Unrealized 0.0%

GLIBK GCI LIBERTY INC 0.3%

Value ($000) $372 Shares 10,000 Est. Cost $35.09 Unrealized 0.0%

TRS TRIMAS CORP 0.3%

Value ($000) $355 Shares 10,000 Est. Cost $34.92 Unrealized 0.0%

GOOG ALPHABET INC 0.2%

Value ($000) $322 Shares 1,026 Est. Cost $286.33 Unrealized 0.0%

WW WW INTL INC 0.2%

Value ($000) $292 Shares 10,000 Est. Cost $27.95 Unrealized 0.0%

FTEK FUEL TECH INC 0.2%

Value ($000) $250 Shares 160,027 Est. Cost $2.20 Unrealized 0.0%

AMZN AMAZON COM INC 0.2%

Value ($000) $237 Shares 1,026 Est. Cost $228.79 Unrealized 0.0%

TTAM TITAN AMER SA 0.1%

Value ($000) $165 Shares 10,000 Est. Cost $15.65 Unrealized 0.0%

LMNR LIMONEIRA CO 0.1%

Value ($000) $163 Shares 12,892 Est. Cost $14.04 Unrealized 0.0%

FARM FARMER BROS CO 0.1%

Value ($000) $79 Shares 54,009 Est. Cost $1.61 Unrealized 0.0%

FSP FRANKLIN STR PPTYS CORP 0.0%

Value ($000) $19 Shares 19,868 Est. Cost $0.95 Unrealized —

CNTY CENTURY CASINOS INC 0.0%

Value ($000) $13 Shares 10,000 Est. Cost $1.79 Unrealized 0.0%

AUROW AURORA INNOVATION INC 0.0%

Value ($000) $7 Shares 30,209 Est. Cost $0.23 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WULF	TERAWULF INC	2,000,000	$22,980	16.6%	$13.40	0.0%	COM	88080T104
SATS	ECHOSTAR CORP	150,000	$16,305	11.8%	$81.43	0.0%	CL A	278768106
HUT	HUT 8 CORP	260,000	$11,944	8.6%	$44.08	0.0%	COM	44812J104
CORZ	CORE SCIENTIFIC INC NEW	800,000	$11,648	8.4%	$17.44	0.0%	COM	21874A106
NBIS	NEBIUS GROUP N.V.	135,000	$11,300	8.2%	$103.64	0.0%	SHS CLASS A	N97284108
NVRI	ENVIRI CORP	422,441	$7,570	5.5%	$14.90	0.0%	COM	415864107
VISN	COMMSCOPE HLDG CO INC	400,000	$7,252	5.2%	$17.25	0.0%	COM	20337X109
WULF	TERAWULF INC	400,000	$4,596	3.3%	$13.40	0.0%	Call	88080T104
PRCH	PORCH GROUP INC	450,000	$4,109	3.0%	$12.04	0.0%	COM	733245104
ATEX	ANTERIX INC	145,000	$3,165	2.3%	$20.77	0.0%	COM	03676C100
TDS	TELEPHONE & DATA SYS INC	75,000	$3,075	2.2%	$38.95	0.0%	COM NEW	879433829
SEM	SELECT MED HLDGS CORP	200,000	$2,970	2.1%	$14.10	0.0%	COM	81619Q105
CORZ	CORE SCIENTIFIC INC NEW	200,000	$2,912	2.1%	$17.44	0.0%	Call	21874A106
KW	KENNEDY-WILSON HOLDINGS INC	300,000	$2,901	2.1%	$8.96	0.0%	COM	489398107
NRGV	ENERGY VAULT HOLDINGS INC	600,000	$2,766	2.0%	$3.82	0.0%	COM	29280W109
CBNA	CHAIN BRIDGE BANCORP INC	75,794	$2,626	1.9%	$32.33	0.0%	CL A	15746L100
PRTH	PRIORITY TECHNOLOGY HLDGS IN	400,000	$2,180	1.6%	$6.19	0.0%	COM	74275G107
FCNCA	FIRST CTZNS BANCSHARES INC D	1,000	$2,146	1.6%	$1883.58	0.0%	CL A	31946M103
CENX	CENTURY ALUM CO	50,000	$1,959	1.4%	$31.24	0.0%	COM	156431108
NBIS	NEBIUS GROUP N.V.	20,000	$1,674	1.2%	$103.64	0.0%	Call	N97284108
KNOP	KNOT OFFSHORE PARTNERS LP	157,082	$1,626	1.2%	$9.66	0.0%	COM UNITS	Y48125101
CMTL	COMTECH TELECOMMUNICATIONS C	251,881	$1,332	1.0%	$3.26	0.0%	COM NEW	205826209
KNOP	KNOT OFFSHORE PARTNERS LP	125,900	$1,303	0.9%	$9.66	0.0%	Call	Y48125101
BVFL	BV FINL INC	60,616	$1,100	0.8%	$17.21	0.0%	COM NEW	05603E208
TALK	TALKSPACE INC	300,000	$1,089	0.8%	$3.17	0.0%	COM	87427V103
SCOR	COMSCORE INC	126,207	$820	0.6%	$7.16	0.0%	COM NEW	20564W204
AFBI	AFFINITY BANCSHARES INC	30,416	$623	0.4%	$19.58	0.0%	COM	00832E103
STRZ	STARZ ENTERTAINMENT CORP.	50,000	$585	0.4%	$11.46	0.0%	COM	855919106
WALD	WALDENCAST PLC	300,000	$564	0.4%	$2.03	0.0%	CLASS A ORD SHS	G9503X103
FSI	FLEXIBLE SOLUTIONS INTL INC	74,754	$503	0.4%	$7.90	0.0%	COM	33938T104
MAPS	WM TECHNOLOGY INC	568,883	$469	0.3%	$0.98	0.0%	COM	92971A109
GLIBK	GCI LIBERTY INC	10,000	$372	0.3%	$35.09	0.0%	COM SER C	36164V800
TRS	TRIMAS CORP	10,000	$355	0.3%	$34.92	0.0%	COM NEW	896215209
GOOG	ALPHABET INC	1,026	$322	0.2%	$286.33	0.0%	CAP STK CL C	02079K107
WW	WW INTL INC	10,000	$292	0.2%	$27.95	0.0%	COM NEW	98262P200
FTEK	FUEL TECH INC	160,027	$250	0.2%	$2.20	0.0%	COM	359523107
AMZN	AMAZON COM INC	1,026	$237	0.2%	$228.79	0.0%	COM	023135106
TTAM	TITAN AMER SA	10,000	$165	0.1%	$15.65	0.0%	COMMON SHARES	B9151N105
LMNR	LIMONEIRA CO	12,892	$163	0.1%	$14.04	0.0%	COM	532746104
FARM	FARMER BROS CO	54,009	$79	0.1%	$1.61	0.0%	COM	307675108
FSP	FRANKLIN STR PPTYS CORP	19,868	$19	0.0%	$0.95	—	COM	35471R106
CNTY	CENTURY CASINOS INC	10,000	$13	0.0%	$1.79	0.0%	COM	156492100
AUROW	AURORA INNOVATION INC	30,209	$7	0.0%	$0.23	—	*W EXP 11/03/202	051774115