PLUSTICK MANAGEMENT LLC

Hedge Fund • Distressed

PLUSTICK MANAGEMENT LLC is a Distressed Hedge Fund based in Charlottesville, VA led by Thomas Johns Hill, managing $238.5M across 20 long positions as of Q3 2025 with 41% Technology concentration, 83% concentrated in top 10 holdings, 16% allocation to APLD, and 41% technology allocation.

Managing PartnerThomas Johns Hill

Portfolio Value: $238.5M
Positions: 20
Top Holding: APLD at 15.78%
Last Reported: Q3 2025

Address200 6th St. Ne, Charlottesville, VA, 22902, United States

Top Holdings

Largest long holdings in PLUSTICK MANAGEMENT LLC's portfolio (83.2% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Applied Digital APLD	Financial - Capital Markets Financial Services	$37.6M	15.78%	-$12.6M Sold	0.61% 1.6M shares	Q2 2023 Held for 2y 5m
2 EchoStar SATS	Communication Equipment Technology	$30.5M	12.81%	+$5.7M Bought	0.14% 400.0K shares	Q1 2024 Held for 1y 8m
3 NextNav NN	Internet Content & Information Communication Services	$29.2M	12.23%	-$2.1M Sold	1.51% 2.0M shares	Q3 2022 Held for 3y 2m
4 Innodata INOD	Information Technology Services Technology	$27.7M	11.64%	+$385.3K Bought	1.13% 360.0K shares	Q2 2023 Held for 2y 5m
5 Antero Resources AR	Oil & Gas Exploration & Production Energy	$15.8M	6.61%	-$1.2M Sold	0.15% 470.0K shares	Q4 2021 Held for 3y 11m
6 Nebius Group N.V. NBIS	Unknown Unknown	$15.7M	6.59%	-$2.2M Sold	0.06% 140.0K shares	Q4 2024 Held for 11 months
7 Super Micro Computer, Inc. SMCI	Computer Hardware Technology	$12.0M	5.03%	-$719.1K Sold	0.04% 250.0K shares	Q4 2024 Held for 11 months
8 CommScope Holding Company COMM	Communication Equipment Technology	$11.6M	4.87%	-$12.0M Sold	0.34% 750.0K shares	Q3 2024 Held for 1y 2m
9 LENZ Therapeutics, Inc. LENZ	Biotechnology Healthcare	$9.3M	3.91%	+$9.3M New	0.70% 200.0K shares	Q3 2025 Held for 2 months
10 First Solar FSLR	Solar Energy	$8.8M	3.70%	+$8.8M New	0.04% 40.0K shares	Q3 2025 Held for 2 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in PLUSTICK MANAGEMENT LLC's latest filing

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Market Value

$238.5M

Prior: $165.7M

Q/Q Change

+43.89%

+$72.7M

Net Flows % of MV

-0.122%

Turnover Ratio

19.35%

New Purchases

8 stocks

$39.4M

Added To

3 stocks

+$6.6M

Sold Out Of

6 stocks

$14.9M

Reduced Holdings

8 stocks

-$31.4M

Increased Positions

Position	Shares Δ	Change
1 LENZ Therapeutics, Inc. LENZ	New	0 → 200.0K +$9.3M
2 First Solar FSLR	New	0 → 40.0K +$8.8M
3 Clear Secure YOU	New	0 → 220.0K +$7.3M
4 WW International, Inc. WW	New	0 → 210.0K +$5.7M
5 Nextdoor Holdings, Inc. NXDR	New	0 → 2.6M +$5.4M

Decreased Positions

Position	Shares Δ	Change
1 Core Scientific, Inc. CORZ	Sold	220.0K → 0 −$3.8M
2 MDU Resources Group MDU	Sold	225.0K → 0 −$3.8M
3 Upwork Inc. UPWK	Sold	170.0K → 0 −$2.3M
4 eToro Group Ltd. Class A Common Shares ETOR	Sold	30.0K → 0 −$2.0M
5 Oscar Health OSCR	Sold	85.0K → 0 −$1.8M