Quincy Lee - Ancient Art (Teton Capital) 13F Activity & Position Changes (Q1 2026)

According to the SEC 13F filed on May 15, 2026, the Ancient Art (Teton Capital) portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2026. 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 2026, the filing reported:

New Buys - Coupang, Inc., Dlocal, GitLab Inc., MercadoLibre, Inc., Sprout Social, Inc

Increases - Upwork Inc.

Reductions - Interactive Brokers Group, Inc., EchoStar Corporation, Stellantis, Frontier Group Holdings, Inc., Controladora Vuela Compania de

Complete Exits - None reported

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 2026	CPNG Coupang, Inc.	Coupang, Inc.	Buy - Position Entry	+594,799	-	$11.23M	594,799
Q1 2026	DLO Dlocal	Dlocal	Buy - Position Entry	+10,068	-	$130.58K	10,068
Q1 2026	GTLB GitLab Inc.	GitLab Inc.	Buy - Position Entry	+750,000	-	$16.23M	750,000
Q1 2026	IBKR Interactive Brokers Group, Inc.	Interactive Brokers Group, Inc.	Sell	-358,443	-21.8%	$86.20M	1,285,193
Q1 2026	MELI MercadoLibre, Inc.	MercadoLibre, Inc.	Buy - Position Entry	+31,935	-	$55.22M	31,935
Q1 2026	SATS EchoStar Corporation	EchoStar Corporation	Sell	-21,200	-3.7%	$63.83M	545,189
Q1 2026	SPT Sprout Social, Inc	Sprout Social, Inc	Buy - Position Entry	+2,537,074	-	$14.46M	2,537,074
Q1 2026	STLA Stellantis	Stellantis	Sell	-300,000	-8.6%	$22.68M	3,199,412
Q1 2026	ULCC Frontier Group Holdings, Inc.	Frontier Group Holdings, Inc.	Sell	-461,099	-12.9%	$11.02M	3,122,704
Q1 2026	UPWK Upwork Inc.	Upwork Inc.	Buy	+1,319,095	+28.4%	$65.32M	5,959,909
Q1 2026	VLRS Controladora Vuela Compania de	Controladora Vuela Compania de	Sell	-1,347,054	-76.8%	$2.94M	406,139