Tom Bancroft
Q4 2025 versus Q3 2025: 0 bought, 1 added to, 6 reduced, 1 sold. By dollars, the largest buy was Limbach Hldgs Inc, $3.9M more at the quarter-end price; the largest sale Bath & Body Works Inc, $12.8M less. Net, $43.3M more sold than bought. What every tracked investor did in Q4 2025.
Every move, largest first
| Ticker | Issuer | Move | Shares Q3 2025 → Q4 2025 | Bought / sold | Of the portfolio | Weight now | Price vs model |
|---|---|---|---|---|---|---|---|
| BBWI | Bath & Body Works INC | reduced −46% | 1.4M → 734,355 | −$12.8M | −9.98% | 11.5% | — |
| FLUT | Flutter Entmt PLC | reduced −49% | 81,422 → 41,422 | −$8.6M | −6.73% | 7.0% | — |
| BELFB | Bel Fuse INC | reduced −45% | 100,000 → 55,000 | −$7.6M | −5.97% | 7.3% | — |
| LAMR | Lamar Advertising CO New | reduced −29% | 170,000 → 120,000 | −$6.3M | −4.95% | 11.9% | — |
| SVV | Savers Value Vlg INC | reduced −80% | 780,000 → 159,110 | −$5.8M | −4.53% | 1.2% | — |
| WHD | Cactus INC | reduced −46% | 263,409 → 141,286 | −$5.6M | −4.36% | 5.0% | — |
| LMB | Limbach Hldgs INC | added +96% | 52,239 → 102,239 | +$3.9M | +3.04% | 6.2% | — |
| BELFA | Bel Fuse Cl A Ord | sold | 4,001 → 0 | −$465,516 | −0.36% | — | — |
Bought / sold is the change in shares × the quarter's reported price (value ÷ shares in the filing); a position sold out is priced at the quarter before, since it has no price in this one. “Of the portfolio” is that amount against this quarter's reported book.
Source: the manager's Form 13F-HR on SEC EDGAR, kept as immutable quarterly snapshots; changes compare two consecutive filings. A 13F is filed up to 45 days after quarter end and covers US-listed long positions only. Tickers come from a self-maintained CUSIP map; a position without one shows its CUSIP. Method notes in where the numbers come from.