Venator Management LLC

Hedge Fund • Long/Short

Venator Management LLC is a Long/Short Hedge Fund based in Pittsburgh, PA led by David Robert Fallgren, reporting $428.5M in AUM as of Q3 2025 with 41% Communication Services concentration and 82% concentrated in top 10 holdings.

CCODavid Robert Fallgren

Portfolio Value: $417.0M
Positions: 24
Top Holding: GOOG at 13.28%
Last Reported: Q3 2025

Address615 Washington Road, Suite 106, Pittsburgh, PA, 15228-1926, United States

Top Holdings

Largest long holdings in Venator Management LLC's portfolio (82.4% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$55.4M	13.28%	-$121.8K Sold	0.00% 227.4K shares	Q4 2020 Held for 4y 11m
2 Amazon AMZN	Specialty Retail Consumer Cyclical	$48.8M	11.70%	+$1.5M Bought	0.00% 222.2K shares	Q2 2021 Held for 4y 5m
3 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$38.5M	9.22%	-$2.6M Sold	0.00% 52.4K shares	Q4 2020 Held for 4y 11m
4 Visa V	Financial - Credit Services Financial Services	$36.6M	8.77%	+$2.1M Bought	0.01% 107.2K shares	Q4 2020 Held for 4y 11m
5 Uber Technologies UBER	Software - Application Technology	$35.9M	8.61%	-$1.9M Sold	0.02% 366.5K shares	Q4 2020 Held for 4y 11m
6 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$35.6M	8.53%	+$1.8M Bought	0.00% 146.3K shares	Q4 2020 Held for 4y 11m
7 Netflix NFLX	Entertainment Communication Services	$30.2M	7.23%	+$406.4K Bought	0.01% 25.2K shares	Q1 2022 Held for 3y 8m
8 NVR NVR	Residential Construction Consumer Cyclical	$23.2M	5.57%	+$401.7K Bought	0.10% 2.9K shares	Q4 2020 Held for 4y 11m
9 The Baldwin Insurance Group, Inc. BWIN	—	$21.8M	5.23%	—	1.08% 773.7K shares	Q2 2024 Held for 1y 5m
10 JPMorgan Chase JPM	Banks - Diversified Financial Services	$17.7M	4.24%	-$167.2K Sold	0.00% 56.1K shares	Q4 2020 Held for 4y 11m

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GthenH

Changes

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

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GthenC

Market Value

$417.0M

Prior: $383.9M

Q/Q Change

+8.62%

+$33.1M

Net Flows % of MV

+4.85%

Turnover Ratio

4.53%

New Purchases

3 stocks

$11.4M

Added To

11 stocks

+$17.6M

Sold Out Of

1 stocks

$1.8M

Reduced Holdings

7 stocks

-$7.0M

Increased Positions

Position	Shares Δ	Change
1 Elevance Health ELV	New	0 → 27.5K +$8.9M
2 EchoStar SATS	New	0 → 25.9K +$2.0M
3 The Cooper Companies, Inc. COO	New	0 → 7.5K +$514.2K
4 UnitedHealth Group UNH	+301.26%	6.4K → 25.6K +$6.6M
5 Thermo Fisher Scientific TMO	+259.4%	500.0 → 1.8K +$629.1K

Decreased Positions

Position	Shares Δ	Change
1 XPEL, Inc. XPEL	Sold	50.0K → 0 −$1.8M
2 Oscar Health OSCR	-68.75%	80.0K → 25.0K −$1.0M
3 First Citizens BancShares FCNCA	-22.95%	2.7K → 2.1K −$1.1M
4 Meta Platforms, Inc. META	-6.27%	55.9K → 52.4K −$2.6M
5 Uber Technologies UBER	-5.09%	386.2K → 366.5K −$1.9M