Quincy Lee - Ancient Art (Teton Capital) 13F Activity & Position Changes (Q1 2023)

According to the SEC 13F filed on May 15, 2023, the Ancient Art (Teton Capital) portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2023. 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 Q1 2023, the filing reported:

New Buys - First Citizens BancShares, Inc., Spirit Airlines, Inc.

Increases - SEMrush Holdings, Inc., Upwork Inc., Vital Energy, Inc.

Reductions - Interactive Brokers Group, Inc., Meta Platforms, Inc., Uber Technologies, Inc., U-Haul Holding Company Series N, Frontier Group Holdings, Inc.

Complete Exits - Alibaba Group Holding Limited, Energy Transfer LP, Spotify, U-Haul Holding Company, Zillow Group, Inc.

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
Q1 2023	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Sell - Position Exit	-11,662	-100.0%	$0.00	-
Q1 2023	ET Energy Transfer LP	Energy Transfer LP	Sell - Position Exit	-1,166,511	-100.0%	$0.00	-
Q1 2023	FCNCA First Citizens BancShares, Inc.	First Citizens BancShares, Inc.	Buy - Position Entry	+42,011	-	$40.88M	42,011
Q1 2023	IBKR Interactive Brokers Group, Inc.	Interactive Brokers Group, Inc.	Sell	-431,971	-42.8%	$47.75M	578,378
Q1 2023	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-222,500	-53.6%	$40.82M	192,612
Q1 2023	SAVE Spirit Airlines, Inc.	Spirit Airlines, Inc.	Buy - Position Entry	+1,725,000	-	$29.62M	1,725,000
Q1 2023	SEMR SEMrush Holdings, Inc.	SEMrush Holdings, Inc.	Buy	+257,341	+7.8%	$35.73M	3,555,670
Q1 2023	SPOT Spotify	Spotify	Sell - Position Exit	-481,304	-100.0%	$0.00	-
Q1 2023	UBER Uber Technologies, Inc.	Uber Technologies, Inc.	Sell	-235,000	-21.9%	$26.64M	840,375
Q1 2023	UHAL U-Haul Holding Company	U-Haul Holding Company	Sell - Position Exit	-32,653	-100.0%	$0.00	-
Q1 2023	UHAL-B U-Haul Holding Company Series N	U-Haul Holding Company Series N	Sell	-242,628	-82.6%	$2.66M	51,249
Q1 2023	ULCC Frontier Group Holdings, Inc.	Frontier Group Holdings, Inc.	Sell	-50,000	-1.1%	$42.89M	4,358,535
Q1 2023	UPWK Upwork Inc.	Upwork Inc.	Buy	+589,872	+23.7%	$34.84M	3,077,501
Q1 2023	VTLE Vital Energy, Inc.	Vital Energy, Inc.	Buy	+133,902	+75.6%	$14.16M	310,969
Q1 2023	ZG Zillow Group, Inc.	Zillow Group, Inc.	Sell - Position Exit	-14,075	-100.0%	$0.00	-