TFJ Management, LLC Diversified Active

CIK: 0002056069 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $138,894 (100.0% shares, 0.0% debt)

Holdings (10)

New Positions (1)

CLVT CLARIVATE PLC 1.4%

Value ($000) $1,955 Shares 585,250 Est. Cost $3.56 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CLVT	CLARIVATE PLC	585,250	$1,955	1.4%	$3.56	0.0%	ORD SHS	G21810109

Increased Positions (6)

CWAN CLEARWATER ANALYTICS HLDGS I 11.9%

Value ($000) $16,477 (+156.1%) Shares 683,114 (+91.3%) Est. Cost $20.16 Unrealized -0.6%

CPNG COUPANG INC 14.3%

Value ($000) $19,914 (-20.8%) Shares 844,182 (+8.1%) Est. Cost $24.84 Unrealized +14.5%

GTLB GITLAB INC 10.9%

Value ($000) $15,118 (+51.6%) Shares 402,815 (+82.1%) Est. Cost $45.29 Unrealized -4.4%

OPLN OPENLANE INC 16.1%

Value ($000) $22,401 (+25.9%) Shares 752,220 (+21.6%) Est. Cost $19.97 Unrealized +35.4%

APPF APPFOLIO INC 6.1%

Value ($000) $8,414 (-10.3%) Shares 36,166 (+6.3%) Est. Cost $229.08 Unrealized +3.7%

ACVA ACV AUCTIONS INC 7.1%

Value ($000) $9,916 (-5.2%) Shares 1,236,430 (+17.2%) Est. Cost $15.71 Unrealized -48.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CWAN	CLEARWATER ANALYTICS HLDGS I	683,114 (+91.3%)	$16,477 (+156.1%)	11.9%	$20.16	-0.6%	CL A	185123106
CPNG	COUPANG INC	844,182 (+8.1%)	$19,914 (-20.8%)	14.3%	$24.84	+14.5%	CL A	22266T109
GTLB	GITLAB INC	402,815 (+82.1%)	$15,118 (+51.6%)	10.9%	$45.29	-4.4%	CLASS A COM	37637K108
OPLN	OPENLANE INC	752,220 (+21.6%)	$22,401 (+25.9%)	16.1%	$19.97	+35.4%	COM	48238T109
APPF	APPFOLIO INC	36,166 (+6.3%)	$8,414 (-10.3%)	6.1%	$229.08	+3.7%	COM CL A	03783C100
ACVA	ACV AUCTIONS INC	1,236,430 (+17.2%)	$9,916 (-5.2%)	7.1%	$15.71	-48.5%	COM CL A	00091G104

Exited Positions (1)

CCC CCC INTELLIGENT SOLUTIONS HL 9.0%

Value ($000) $12,459 Shares 1,367,578 Est. Cost $10.04 Unrealized -19.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CCC	CCC INTELLIGENT SOLUTIONS HL	1,367,578	$12,459	9.0%	$10.04	-19.0%	—	12510Q100

Decreased Positions (2)

HGV HILTON GRAND VACATIONS INC 1.5%

Value ($000) $2,149 (-80.7%) Shares 48,030 (-82.0%) Est. Cost $40.12 Unrealized +5.9%

APP APPLOVIN CORP 25.6%

Value ($000) $35,621 (-9.0%) Shares 52,865 (-3.0%) Est. Cost $252.97 Unrealized +149.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HGV	HILTON GRAND VACATIONS INC	48,030 (-82.0%)	$2,149 (-80.7%)	1.5%	$40.12	+5.9%	COM	43283X105
APP	APPLOVIN CORP	52,865 (-3.0%)	$35,621 (-9.0%)	25.6%	$252.97	+149.1%	COM CL A	03831W108

Unchanged Positions (1)

RSKD RISKIFIED LTD 5.0%

Value ($000) $6,929 Shares 1,394,074 Est. Cost $4.96 Unrealized -2.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RSKD	RISKIFIED LTD	1,394,074	$6,929	5.0%	$4.96	-2.9%	SHS CL A	M8216R109