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Livermore
Livermore
ZHEN

MIG Capital, LLC

SEC CIK
0001425649
Latest filing
Feb 17, 2026

The latest 13F from MIG Capital, LLC covers Q4 2025 (filed Feb 17, 2026): 43 long positions worth $589.4M. The top 10 holdings make up 58.2% of the portfolio, and the largest is Meta Platforms, Inc. (META) at 8.9%. Livermore has 20 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q4 2025

Share counts compared with Q3 2025: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
3
Est. +$19.4M
Added
1
Est. +$480.0K
Reduced
9
Est. −$95.0M
Sold out
3
Est. −$24.3M

Top 5 holdings

Share of this quarter's portfolio value

  1. METAMeta Platforms, Inc.
    8.9%$52.4MHistory
  2. DXCMDexcom Inc
    6.8%$40.2MHistory
  3. SHCSotera Health Co
    5.9%$34.7MHistory
  4. MSFTMicrosoft Corp
    5.8%$34.2MHistory
  5. CELHCelsius Holdings, Inc.
    5.8%$33.9MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. CCOICogent Communications Holdings, Inc.
    +$12.3MNewHistory
  2. CIENCiena Corp
    +$4.45MNewHistory
  3. PANWPalo Alto Networks Inc
    +$2.68MNewHistory
  4. CRWDCrowdStrike Holdings, Inc.
    +$480.0KAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. CCOICogent Communications Holdings, Inc.
    +2.08 pp0.0% → 2.1%History
  2. CIENCiena Corp
    +0.76 pp0.0% → 0.8%History
  3. PANWPalo Alto Networks Inc
    +0.45 pp0.0% → 0.5%History
  4. CRWDCrowdStrike Holdings, Inc.
    +0.14 pp0.5% → 0.7%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. SHCSotera Health Co
    −$39.9MReducedHistory
  2. ELVElevance Health, Inc.
    −$18.3MSold outHistory
  3. TSMTaiwan Semiconductor Manufacturing Co Ltd
    −$12.3MReducedHistory
  4. NOWServiceNow, Inc.
    −$11.8MReducedConverted for a 5-for-1 splitHistory
  5. CELHCelsius Holdings, Inc.
    −$9.76MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. SHCSotera Health Co
    −3.87 pp9.7% → 5.9%History
  2. ELVElevance Health, Inc.
    −2.68 pp2.7% → 0.0%History
  3. CELHCelsius Holdings, Inc.
    −2.30 pp8.1% → 5.8%History
  4. NOWServiceNow, Inc.
    −2.10 pp2.5% → 0.4%History
  5. TSMTaiwan Semiconductor Manufacturing Co Ltd
    −0.95 pp4.4% → 3.4%History

Metrics

13F metrics for Q4 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$589.4M
−$92.6M (−13.6%) vs. prior quarter
Positions
43
0 vs. prior quarter
Top 10 concentration
58.2%
Top 10 as share of value
Turnover
3.1%
Q4 2025, one quarter
Average holding period
7.5 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

20 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.13B (Q2 2021)

Q1 2021: $1.01BQ2 2021: $1.13BQ3 2021: $1.04BQ4 2021: $1.00BQ1 2022: $975.4MQ2 2022: $607.5MQ3 2022: $544.8MQ4 2022: $509.4MQ1 2023: $578.3MQ2 2023: $552.8MQ3 2023: $540.1MQ4 2023: $715.7MQ1 2024: $719.4MQ2 2024: $750.6MQ3 2024: $824.3MQ4 2024: $963.5MQ1 2025: $785.9MQ2 2025: $950.2MQ3 2025: $682.0MQ4 2025: $589.4M
Q1 2021Q4 2025
13F filings of MIG Capital, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q4 2025Feb 17, 202643$589.4MMETADXCMSHCvs. Q3 2025SEC
Q3 2025Nov 13, 202543$682.0MSHCMETACELHvs. Q2 2025SEC
Q2 2025Aug 13, 202554$950.2MDXCMCELHSHCvs. Q1 2025SEC
Q1 2025May 14, 202553$785.9MSHCCACCCCOIvs. Q4 2024SEC
Q4 2024Feb 13, 202571$963.5MCCOISHCFISVvs. Q3 2024SEC
Q3 2024Nov 14, 202419$824.3MSHCCCOIFISVvs. Q2 2024SEC
Q2 2024Aug 13, 202419$750.6MSHCCCOIDXCMvs. Q1 2024SEC
Q1 2024May 14, 202416$719.4MDXCMFISVCCOIvs. Q4 2023SEC
Q4 2023Feb 13, 202417$715.7MDXCMSHCCCOIvs. Q3 2023SEC
Q3 2023Nov 13, 202314$540.1MMETASHCCCOIvs. Q2 2023SEC
Q2 2023Aug 11, 202315$552.8MSHCMETAFISVvs. Q1 2023SEC
Q1 2023May 15, 202318$578.3MSHCMETAFISVvs. Q4 2022SEC
Q4 2022Feb 13, 202317$509.4MFISVISRGIAAvs. Q3 2022SEC
Q3 2022Nov 14, 202219$544.8MFISVWMSRHvs. Q2 2022SEC
Q2 2022Aug 12, 202220$607.5MFISVMSFTCCOIvs. Q1 2022SEC
Q1 2022May 16, 202227$975.4MTVMAFISVvs. Q4 2021SEC
Q4 2021Feb 14, 202223$1.00BMACCOIUBERvs. Q3 2021SEC
Q3 2021Nov 15, 202124$1.04BCCOIUBERTVvs. Q2 2021SEC
Q2 2021Aug 16, 202126$1.13BTVTMUSCCOIvs. Q1 2021SEC
Q1 2021May 17, 202124$1.01BGRPNTMUSCCOI–SEC

13D and 13G filings

Companies where MIG Capital, LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

MIG Capital, LLC does not currently report owning 5% or more of any company.

Latest filings

3 filings on file made by MIG Capital, LLC or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by MIG Capital, LLC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
EWCZEuropean Wax Center, Inc.Nov 8, 202413G/AOld format–––SEC
EWCZEuropean Wax Center, Inc.May 20, 202413GOld format–New–SEC
GRPNGroupon, Inc.Apr 5, 202113D/AOld format–––SEC