Quincy Lee's Top Holdings Analysis: Portfolio Breakdown for 2025

Quincy Lee, managing director at Ancient Art (Teton Capital), has built a substantial portfolio as of December 31, 2025, with a total value of approximately $42.9 million. His investment strategy focuses on key sectors, with Technology and Communication Services leading his allocations. Lee's portfolio includes significant stakes in several companies, each representing a notable percentage of his holdings.

UPWK, the parent company of the Upwork marketplace, stands as Lee's largest holding, accounting for 20.81% of his portfolio. Lee increased his stake in UPWK by 8.72%, adding 372,147 shares during the prior period, demonstrating confidence in the freelance platform's prospects.

ECHOSTAR CORP (SATS) follows as Lee's second-largest position, representing 13.93% of his assets. Lee reduced his investment in SATS by 15.01%, selling 100,000 shares, which may reflect a strategic reassessment or market conditions affecting satellite communications.

STELLANTIS N.V (STLA) holds an 8.62% allocation in Lee's portfolio. He modestly increased his stake in STLA by 1.45%, adding 50,000 shares, indicating ongoing interest in the global automaker despite the competitive landscape.

FRONTIER GROUP HLDGS INC (ULCC) makes up 3.82% of Lee's holdings. Lee significantly decreased his position in ULCC by 16.34%, divesting 700,000 shares, suggesting a shift in focus or concerns regarding the holding.

CONTROLADORA VUELA COMP DE A (VLRS) represents 3.52% of Lee's portfolio. He reduced his investment in VLRS by 10.58%, selling 207,381 shares, potentially indicating a more cautious stance on this Latin American airline.

THRYV HLDGS INC (THRY) completes Lee's top holdings with a 2.14% allocation. He substantially increased his stake in THRY by 19.2%, adding 251,449 shares, highlighting a significant bet on the digital health management company.