Sandia Investment Management LP

BOSTON, MA · CIK 1880562 · 13F filing filed 2026-02-17

SEC-registered investment adviser since 2021 · limited partnership

Assets managed$625.4m
Staff6 · 5 in investment roles
Main clients (by assets)Private funds 97%, Companies 3%
Websitesandialp.com
Form ADV · 2026-06-10SEC adviser record

Legal entitySandia Investment Management LP (US)

Others nearbyBoston, MA

$40.1m reported value +19.5% vs Q3 2025

128positions

29.3%in top 10

44 new 19 added 40 reduced 22 sold out vs Q3 2025

Holdings, Q4 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	HAYMAKER ACQUISITION CORP IV CLASS A 2680812D	2680812D	349,987	$4.0m9.93%	9.93%	Added +150.0k	+149,987 75.0%
2	BOLD EAGLE ACQUISITION CORP CL A BEAG	BEAG	117,662	$1.2m3.10%	3.10%	Reduced -63.2k	-63,208 -35.0%
3	REGIS CORPORATION COM SHS RGS	RGS	32,936	$914.0k2.28%	2.28%	Unchanged
4	STURM RUGER & CO INC COM RGR	RGR	26,485	$864.7k2.16%	2.16%	New
5	LEGENCE CORP CL A LGN	LGN	19,850	$854.3k2.13%	2.13%	Added +9.8k	+9,850 98.5%
6	MEDLINE INC COM CL A MDLN	MDLN	20,000	$840.0k2.09%	2.09%	New
7	ALLIANCE LAUNDRY HLDGS INC COM ALH	ALH	39,522	$804.3k2.01%	2.01%	New
8	WATERBRIDGE INFRASTRUCTURE L CL A SHS REPSTG WBI	WBI	40,000	$800.4k2.00%	2.00%	Added +15.0k	+15,000 60.0%
9	SILICON VY ACQUISITION CORP UNIT 12/08/2030 SVAQU	SVAQU	75,000	$745.9k1.86%	1.86%	New
10	NETSKOPE INC CL A NTSK	NTSK	40,000	$701.6k1.75%	1.75%	Added +30.0k	+30,000 300.0%
11	CARIS LIFE SCIENCES INC COM CAI	CAI	23,600	$636.7k1.59%	1.59%	Added +15.0k	+15,000 174.4%
12	GORES HLDGS X INC SHS CL A GTEN	GTEN	61,632	$631.7k1.58%	1.58%	Added +11.5k	+11,506 22.9%
13	STONEBRIDGE ACQUISITION II C UNIT 09/09/2030 APACU	APACU	60,000	$602.4k1.50%	1.50%	Unchanged
14	MIAMI INTL HLDGS INC COM MIAX	MIAX	13,000	$576.9k1.44%	1.44%	Added +6.4k	+6,400 97.0%
15	ROMAN DBDR ACQUISITION CORP ORD SHS CL A DRDB	DRDB	50,038	$521.9k1.30%	1.30%	Reduced -62	-62 -0.1%
16	UL SOLUTIONS INC CLASS A COM SHS ULS	ULS	6,535	$515.4k1.29%	1.29%	New
17	LIVE OAK ACQUISITION CORP V CL A SHS TMS	TMS	50,000	$515.0k1.28%	1.28%	Reduced -50.0k	-50,000 -50.0%
18	CANTOR EQUITY PARTNERS V INC SHS CL A S CEPV	CEPV	50,000	$512.5k1.28%	1.28%	New
19	AI INFRASTRUCTURE ACQUISI UNIT 99/99/9999 AIIA.U	AIIA.U	50,000	$509.0k1.27%	1.27%	New
20	M3-BRIGADE ACQUISITION VI CO UNIT 08/18/2030 MBVIU	MBVIU	50,000	$506.2k1.26%	1.26%	Unchanged
21	VINE HILL CAP INVTS CORP II UNIT 11/25/2030 VHCPU	VHCPU	50,000	$501.1k1.25%	1.25%	New
22	HALL CHADWICK ACQUISITION CO UNIT 11/20/2030 HCACU	HCACU	50,000	$501.0k1.25%	1.25%	New
23	BLUEROCK ACQUISITION CORP UNIT 11/06/2030 BLRKU	BLRKU	50,000	$500.0k1.25%	1.25%	New
24	ITHAX ACQUISITION CORP III UNIT 11/17/2030 ITHAU	ITHAU	50,000	$498.8k1.24%	1.24%	New
25	BITCOIN INFRASTRUCTURE ACQUI UNIT 11/06/2030 BIXIU	BIXIU	50,000	$498.0k1.24%	1.24%	New
26	TGE VALUE CREATIVE SOLUTIONS UNIT 99/99/9999 BEBE.U	BEBE.U	50,000	$497.0k1.24%	1.24%	New
27	VIA TRANSN INC COM CL A VIA	VIA	17,048	$494.6k1.23%	1.23%	Added +48	+48 0.3%
28	INVEST GREEN ACQUISITION COR UNIT 11/04/2030 IGACU	IGACU	47,000	$471.4k1.18%	1.18%	New
29	HEARTFLOW INC COM HTFL	HTFL	15,917	$464.0k1.16%	1.16%	Added +8.4k	+8,417 112.2%
30	AA MISSION ACQUISITION CORP UNIT 07/23/2032 YCY.U	YCY.U	44,700	$450.8k1.12%	1.12%	New
31	BLACK ROCK COFFEE BAR INC CL A BRCB	BRCB	20,000	$445.0k1.11%	1.11%	Added +5.0k	+5,000 33.3%
32	ANTERIX INC COM ATEX	ATEX	20,000	$436.6k1.09%	1.09%	Reduced -7.3k	-7,340 -26.9%
33	SILVERBOX CORP V UNIT 99/99/9999 SBXE.U	SBXE.U	43,150	$434.1k1.08%	1.08%	New
34	ITT INC COM ITT	ITT	2,500	$433.8k1.08%	1.08%	New
35	STANDARDAERO INC COM SARO	SARO	15,000	$430.2k1.07%	1.07%	Reduced -5.0k	-5,000 -25.0%
36	SONIDA SENIOR LIVING INC COM SNDA	SNDA	12,612	$411.3k1.03%	1.03%	Unchanged
37	FIGURE TECHNOLOGY SOLUTIO COM CL A FIGR	FIGR	10,000	$408.4k1.02%	1.02%	Added +1.5k	+1,500 17.6%
38	REVOLUTION MEDICINES INC COM RVMD	RVMD	5,000	$398.2k0.99%	0.99%	Unchanged
39	CIRCLE INTERNET GROUP INC COM CL A CRCL	CRCL	5,000	$396.5k0.99%	0.99%	Added +3.5k	+3,500 233.3%
40	CENTURI HOLDINGS INC COM SHS CTRI	CTRI	15,000	$378.8k0.94%	0.94%	Added +1.6k	+1,600 11.9%
41	BULLISH ORD SHS BLSH	BLSH	10,000	$378.7k0.94%	0.94%	Added +9.8k	+9,800 4900.0%
42	BRIGHTSPRING HEALTH SVCS INC COM BTSG	BTSG	10,000	$374.5k0.93%	0.93%	New
43	KODIAK GAS SVCS INC COM KGS	KGS	10,000	$374.0k0.93%	0.93%	Reduced -5.0k	-5,000 -33.3%
44	KLARNA GROUP PLC SHS KLAR	KLAR	12,404	$358.6k0.89%	0.89%	Added +1.4k	+1,404 12.8%
45	VIKING ACQUISITION CORP I UNIT 99/99/9999 UNIT 99/99/9999		35,000	$352.4k0.88%	0.88%	New
46	ALDEL FINL II INC CL A ALDF	ALDF	30,000	$314.7k0.78%	0.78%	Reduced -7.5k	-7,500 -20.0%
47	CHIME FINL INC COM SHS CL A CHYM	CHYM	12,500	$314.6k0.78%	0.78%	Reduced -2.5k	-2,500 -16.7%
48	NEPTUNE INS HLDGS INC CL A NP	NP	10,500	$306.2k0.76%	0.76%	New
49	COREBRIDGE FINL INC COM CRBG	CRBG	10,000	$301.7k0.75%	0.75%	Added +5.0k	+5,000 100.0%
50	PACS GROUP INC COM SHS PACS	PACS	7,500	$287.9k0.72%	0.72%	Reduced -5.0k	-5,000 -40.0%
51	COHERENT CORP COM COHR	COHR	1,500	$276.9k0.69%	0.69%	New
52	JAKKS PAC INC COM NEW JAKK	JAKK	16,236	$274.1k0.68%	0.68%	Added +5.2k	+5,225 47.5%
53	FIGMA INC CLASS A COM STK FIG	FIG	7,000	$261.6k0.65%	0.65%	Added +6.0k	+6,000 600.0%
54	FACT II ACQUISITION CORP ORD SHS CL A FACT	FACT	25,000	$260.2k0.65%	0.65%	Reduced -100.1k	-100,100 -80.0%
55	JENA ACQUISITION CORP II UNIT 99/99/9999 JENA.U	JENA.U	25,000	$260.0k0.65%	0.65%	Unchanged
56	PYROPHYTE ACQUISITION CORP. UNIT 99/99/9999 PAII.U	PAII.U	25,000	$259.2k0.65%	0.65%	Unchanged
57	NEWHOLD INVT CORP III ORD SHS CL A ORD SHS CL A		25,000	$259.1k0.65%	0.65%	Unchanged
58	OTG ACQUISITION CORP. I UNIT 09/05/2030 OTGAU	OTGAU	25,000	$254.8k0.64%	0.64%	Reduced -25.6k	-25,581 -50.6%
59	SOLARIUS CAPITAL ACQU CORP UNIT 07/10/2030 SOCAU	SOCAU	25,000	$254.8k0.64%	0.64%	Unchanged
60	KARBON CAP PARTNERS CORP UNIT 12/11/2030 KBONU	KBONU	25,000	$251.6k0.63%	0.63%	New
61	TAILWIND 2.0 ACQUISITION COR UNIT 11/07/2030 TDWDU	TDWDU	25,000	$251.5k0.63%	0.63%	New
62	MESHFLOW ACQUISITION CORP UNIT 11/19/2030 MESHU	MESHU	25,000	$250.0k0.62%	0.62%	New
63	SLIDE INS HLDGS INC COM SLDE	SLDE	11,748	$228.9k0.57%	0.57%	Reduced -2.3k	-2,252 -16.1%
64	SMITHFIELD FOODS INC COM SFD	SFD	10,000	$223.3k0.56%	0.56%	Reduced -15.0k	-15,000 -60.0%
65	GRUPO AEROMEXICO SAB DE CV SPONSORED ADS AERO	AERO	10,000	$219.6k0.55%	0.55%	New
66	ATEGRITY SPECIALTY IN CO HO COM ASIC	ASIC	10,300	$216.4k0.54%	0.54%	Reduced -5.0k	-5,000 -32.7%
67	IMMUNOME INC COM IMNM	IMNM	10,000	$214.8k0.54%	0.54%	New
68	WAYSTAR HLDG CORP COM WAY	WAY	6,550	$214.5k0.53%	0.53%	Reduced -8.4k	-8,450 -56.3%
69	KLAVIYO INC COM SER A KVYO	KVYO	6,534	$212.2k0.53%	0.53%	Reduced -3.5k	-3,466 -34.7%
70	OLD MKT CAP CORP COM OMCC	OMCC	40,491	$209.7k0.52%	0.52%	Added +4.6k	+4,649 13.0%
71	BLUE ACQUISITION CORP. UNIT 06/02/2030 BACCU	BACCU	19,741	$207.7k0.52%	0.52%	Reduced -259	-259 -1.3%
72	TALON CAP CORP UNIT 08/27/2030 TLNCU	TLNCU	20,000	$205.8k0.51%	0.51%	Reduced -4.9k	-4,900 -19.7%
73	AXIOM INTELLIGENCE AC CORP 1 UNIT 06/10/2030 AXINU	AXINU	20,000	$204.8k0.51%	0.51%	Unchanged
74	EQV VENTURES AC CORP. II UNIT 06/30/2032 EVAC.U	EVAC.U	20,000	$202.2k0.50%	0.50%	Unchanged
75	CONTANGO ORE INC COM CTGO	CTGO	7,630	$201.5k0.50%	0.50%	New
76	CRANE HBR ACQUISITION CORP I UNIT 12/09/2030 CRANU	CRANU	20,000	$201.4k0.50%	0.50%	New
77	SAILPOINT INC COM SAIL	SAIL	9,837	$199.0k0.50%	0.50%	Reduced -10.2k	-10,163 -50.8%
78	DLH HLDGS CORP COM DLHC	DLHC	34,806	$196.7k0.49%	0.49%	New
79	LUMEXA IMAGING HOLDINGS INC COM LMRI	LMRI	10,000	$185.0k0.46%	0.46%	New
80	KARMAN HLDGS INC COMMON STOCK KRMN	KRMN	2,500	$182.9k0.46%	0.46%	Reduced -2.5k	-2,500 -50.0%
81	RAPPORT THERAPEUTICS INC COM RAPP	RAPP	6,000	$182.0k0.45%	0.45%	Unchanged
82	LAKELAND INDS INC COM LAKE	LAKE	20,580	$181.9k0.45%	0.45%	Unchanged
83	CARETRUST REIT INC COM CTRE	CTRE	5,000	$180.8k0.45%	0.45%	Unchanged
84	ETORO GROUP LTD SHS CL A ETOR	ETOR	5,000	$175.7k0.44%	0.44%	Reduced -5.0k	-5,000 -50.0%
85	PHOENIX ED PARTNERS INC COM PXED	PXED	5,302	$160.7k0.40%	0.40%	New
86	LOAR HOLDINGS INC COM SHS LOAR	LOAR	2,321	$157.8k0.39%	0.39%	Reduced -5.2k	-5,169 -69.0%
87	BTC DEV CORP UNIT 09/11/2030 BDCIU	BDCIU	15,000	$152.1k0.38%	0.38%	Reduced -5.0k	-5,000 -25.0%
88	ALUSSA ENERGY ACQUISITION CO UNIT 99/99/9999 ALUB.U	ALUB.U	15,000	$151.5k0.38%	0.38%	New
89	INSIGHT DIGITAL PARTNERS II UNIT 10/28/2030 DYORU	DYORU	14,935	$150.4k0.38%	0.38%	New
90	DYNAMIX CORP III UNIT 10/09/2030 DNMXU	DNMXU	14,835	$149.1k0.37%	0.37%	New
91	GRAVITY CO LTD SPONSORED ADS NE GRVY	GRVY	2,460	$142.4k0.36%	0.36%	New
92	OMADA HEALTH INC COM OMDA	OMDA	8,843	$139.5k0.35%	0.35%	Reduced -6.2k	-6,157 -41.0%
93	VERA THERAPEUTICS INC CL A VERA	VERA	2,500	$126.6k0.32%	0.32%	New
94	FIGX CAP ACQUISITION CORP. UNIT 06/17/2030 FIGXU	FIGXU	11,888	$121.0k0.30%	0.30%	Unchanged
95	U S GLOBAL INVS INC CL A GROW	GROW	43,793	$105.5k0.26%	0.26%	New
96	CANTOR EQUITY PARTNERS III I SHS CL A CAEP	CAEP	10,311	$105.2k0.26%	0.26%	Reduced -939	-939 -8.3%
97	1RT ACQUISITION CORP. UNIT 06/26/2030 ONCHU	ONCHU	10,000	$104.0k0.26%	0.26%	Unchanged
98	HAYMAKER ACQUISITION CORP IV W EXP 05/31/202 W EXP 05/31/202		66,002	$102.3k0.26%	0.26%	Reduced -96.5k	-96,497 -59.4%
99	CLARUS CORP NEW COM CLAR	CLAR	30,000	$100.5k0.25%	0.25%	Reduced -38.9k	-38,943 -56.5%
100	MDU RES GROUP INC COM MDU	MDU	5,000	$97.6k0.24%	0.24%	New

Sold out since Q3 2025

Security	Ticker	Shares held before	Value then
WEBULL CORP BULL	BULL	64,497	$953.9k64.5k shares
BLEICHROEDER ACQUISITION COR MRLN	MRLN	87,500	$910.0k87.5k shares
AA MISSION ACQUISITION CORP AAM	AAM	50,000	$526.0k50.0k shares
EQV VENTURES ACQUISITION COR FTW	FTW	50,000	$519.0k50.0k shares
NUVALENT INC		5,500	$475.6k5.5k shares
SERITAGE GROWTH PPTYS SRG	SRG	93,887	$399.0k93.9k shares
NIQ GLOBAL INTELLIGENCE PLC NIQ	NIQ	22,500	$353.2k22.5k shares
SEAPORT ENTMT GROUP INC SEG	SEG	13,311	$305.1k13.3k shares
PROTHENA CORP PLC PRTA	PRTA	29,950	$292.3k29.9k shares
ANDRETTI ACQUISITION CORP II POLE	POLE	25,000	$261.5k25.0k shares
MELAR ACQUISITION CORP. I MACI	MACI	23,711	$249.0k23.7k shares
MCGRAW HILL INC MH	MH	15,000	$188.2k15.0k shares
KASPI KZ JSC KSPI	KSPI	2,175	$177.7k2.2k shares
SPRING VALLEY ACQUISTN CORP SVIRF	SVIRF	339,645	$176.6k339.6k shares
DRUGS MADE IN AMER ACQUTN CO DMAA	DMAA	15,721	$161.5k15.7k shares
COLUMBUS CIRCLE CAP CORP. I		15,000	$160.3k15.0k shares
M3BRIGADE ACQUISITION V CORP VLOS	VLOS	15,000	$158.2k15.0k shares
VENTURE GLOBAL INC VG	VG	10,000	$141.9k10.0k shares
CRANE HBR ACQUISITION CORP CHAC	CHAC	11,921	$120.9k11.9k shares
KEURIG DR PEPPER INC KDP	KDP	2,500	$63.8k2.5k shares
M3BRIGADE ACQUISITION V CORP VLOSW	VLOSW	12,191	$14.9k12.2k shares
ALDEL FINL II INC ALDFW	ALDFW	10,000	$5.5k10.0k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
CROWN PROPTECH ACQUISITIONS 13G · filed 2025-08-14		11.9%	new	13G	2025-08-14