Nierenberg Investment Management 13F, Q4 2025
David Nierenberg · quarter ending 31 December 2025 · filed 13 February 2026 · SEC CIK 1282683
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 4 put and call lines, reported at the value of the underlying shares; they are not ownership and are not in these totals.
Largest positions, Q4 2025
The 25 largest of 43 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| ISHARES TR | SGOV | $64.30M | 32.4% | new |
| EQT CORP | EQT | $28.59M | 14.4% | unchanged |
| ROCKET COS INC | RKT | $25.88M | 13.1% | new |
| CRITEO S A | CRTO | $18.32M | 9.2% | +109% shares |
| LYFT INC | LYFT | $15.76M | 8.0% | unchanged |
| RIVERVIEW BANCORP INC | RVSB | $10.20M | 5.2% | unchanged |
| BROOKDALE SR LIVING INC | BKD | $4.43M | 2.2% | unchanged |
| GREEN DOT CORP | GDOT | $4.34M | 2.2% | unchanged |
| KBR INC | KBR | $2.96M | 1.5% | +37% shares |
| CONCENTRIX CORP | CNXC | $2.68M | 1.4% | +28% shares |
| ECOVYST INC | ECVT | $2.23M | 1.1% | unchanged |
| DIVERSIFIED HEALTHCARE TR | DHC | $2.21M | 1.1% | unchanged |
| EXPAND ENERGY CORPORATION | EXE | $1.72M | 0.9% | unchanged |
| FTI CONSULTING INC | FCN | $1.63M | 0.8% | new |
| DXC TECHNOLOGY CO | DXC | $1.50M | 0.8% | +3% shares |
| SEABOARD CORP DEL | SEB | $1.27M | 0.6% | unchanged |
| BREAD FINANCIAL HOLDINGS INC | BFH | $1.14M | 0.6% | unchanged |
| VERTIV HOLDINGS CO | VRT | $1.13M | 0.6% | new |
| TANDEM DIABETES CARE INC | TNDM | $979.3K | 0.5% | new |
| GREENLIGHT CAPITAL RE LTD | $810.0K | 0.4% | new | |
| ADTRAN HOLDINGS INC | ADTN | $809.1K | 0.4% | -73% shares |
| HELIX ENERGY SOLUTIONS GRP I | HLX | $780.3K | 0.4% | unchanged |
| OIL STS INTL INC | OIS | $755.2K | 0.4% | unchanged |
| TECHTARGET INC | TTGT | $739.3K | 0.4% | +23% shares |
| OSHKOSH CORP | OSK | $722.4K | 0.4% | unchanged |
What changed since Q3 2025
Against the Q3 2025 filing, Nierenberg Investment Management opened 9 new positions, added to 5, trimmed 2, left 27 unchanged and exited 6. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001941040-26-000138, filed by Nierenberg Investment Management Company, LLC. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.