Greg Alexander - Conifer Management 13F Activity & Position Changes (Q3 2025)

According to the SEC 13F filed on Nov 14, 2025, the Conifer Management portfolio showed several notable changes in holdings as of quarter-end Sep 30, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q3 2025, the filing reported:

New Buys - None reported

Increases - Smith Douglas Homes Corp.

Reductions - Equitable Holdings, Inc., Lithia Motors, Inc.

Complete Exits - Nebius Group

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q3 2025	EQH Equitable Holdings, Inc.	Equitable Holdings, Inc.	Sell	-800,000	-16.0%	$213.28M	4,200,000
Q3 2025	LAD Lithia Motors, Inc.	Lithia Motors, Inc.	Sell	-100,000	-20.0%	$126.40M	400,000
Q3 2025	NBIS Nebius Group	Nebius Group	Sell - Position Exit	-700,000	-100.0%	$0.00	-
Q3 2025	SDHC Smith Douglas Homes Corp.	Smith Douglas Homes Corp.	Buy	+351,556	+70.3%	$15.04M	851,556