Lagoda Investment Management, L.P.

Long Only Manager • Value

Lagoda Investment Management, L.P. is a Value-focused institution based in New York, NY led by Fatima Katarzyna Dickey, reporting $304.1M in AUM as of Q3 2025 with 75% concentrated in top 10 holdings and 18% allocation to TPL.

Managing PartnerFatima Katarzyna Dickey

Portfolio Value: $176.7M
Positions: 23
Top Holding: TPL at 18.01%
Last Reported: Q3 2025

Address3 Columbus Circle, Floor 15, New York, NY, 10019, United States

Top Holdings

Largest long holdings in Lagoda Investment Management, L.P.'s portfolio (74.8% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Texas Pacific Land TPL	Oil & Gas Exploration & Production Energy	$31.8M	18.01%	+$284.8K Bought	0.15% 34.1K shares	Q4 2016 Held for 8y 11m
2 Stereotaxis STXS	Medical - Instruments & Supplies Healthcare	$14.6M	8.28%	+$60.6K Bought	5.17% 4.7M shares	Q3 2019 Held for 6y 2m
3 Natera, Inc. NTRA	Medical - Diagnostics & Research Healthcare	$13.6M	7.68%	+$14.5K Bought	0.06% 84.3K shares	Q3 2019 Held for 6y 2m
4 TransMedics Group, Inc. TMDX	Medical - Devices Healthcare	$12.1M	6.86%	+$406.7K Bought	0.32% 108.1K shares	Q1 2023 Held for 2y 8m
5 Trupanion TRUP	Insurance - Specialty Financial Services	$11.3M	6.37%	-$118.2K Sold	0.60% 260.1K shares	Q2 2017 Held for 8y 5m
6 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$10.7M	6.07%	+$616.2K Bought	0.00% 44.0K shares	Q4 2014 Held for 10y 11m
7 PTC PTC	Software - Application Technology	$10.4M	5.87%	-$573.5K Sold	0.04% 51.1K shares	Q2 2015 Held for 10y 5m
8 XPO XPO	Integrated Freight & Logistics Industrials	$9.3M	5.26%	-$604.3K Sold	0.06% 72.0K shares	Q3 2017 Held for 8y 2m
9 Taiwan Semiconductor Manufacturing Company TSM	Semiconductors Technology	$9.3M	5.25%	+$191.3K Bought	— 33.3K shares	Q1 2024 Held for 1y 8m
10 Ubiquiti Inc. UI	Communication Equipment Technology	$9.0M	5.09%	-$3.8M Sold	0.02% 13.6K shares	Q3 2015 Held for 10y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Lagoda Investment Management, L.P.'s latest filing

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Market Value

$176.7M

Prior: $176.5M

Q/Q Change

+0.133%

+$235.1K

Net Flows % of MV

-1.23%

Turnover Ratio

3.2%

New Purchases

0 stocks

Added To

11 stocks

+$4.6M

Sold Out Of

1 stocks

$1.5M

Reduced Holdings

9 stocks

-$5.3M

Increased Positions

Position	Shares Δ	Change
1 Berkshire Hathaway BRK.B	+109.52%	1.9K → 4.0K +$1.0M
2 Arm Holdings ARM	+13.32%	34.1K → 38.7K +$643.1K
3 GXO Logistics GXO	+8.27%	137.6K → 148.9K +$601.4K
4 VolitionRX Limited VNRX	+6.68%	11.7M → 12.5M +$530.8K
5 Alphabet Inc. GOOG	+6.09%	41.5K → 44.0K +$616.2K

Decreased Positions

Position	Shares Δ	Change
1 Berkshire Hathaway BRK.A	Sold	2.0 → 0 −$1.5M
2 Ubiquiti Inc. UI	-29.6%	19.3K → 13.6K −$3.8M
3 Rivian Automotive, Inc. RIVN	-12.0%	5.0K → 4.4K −$8.8K
4 Microsoft MSFT	-11.76%	1.3K → 1.1K −$77.7K
5 GLD SPDR Gold Trust GLD	-7.14%	700.0 → 650.0 −$17.8K