# EDGAR Filing Document

**Accession Number:** 0001812822
**File Stem:** 0001420506-26-000495
**Filing Date:** 2026-2
**Character Count:** 13578
**Document Hash:** 6184213603095fd3554ce0eea120e4ce
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001420506-26-000495.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001420506-26-000495

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Verdad Advisers, LP
- **CENTRAL INDEX KEY:** 0001812822

**ORGANIZATION NAME:**
- **EIN:** 465081802
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20934
- **FILM NUMBER:** 26638480

**BUSINESS ADDRESS:**
- **STREET 1:** 695 ATLANTIC AVENUE
- **STREET 2:** 4TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02111
- **BUSINESS PHONE:** 2022516707

**MAIL ADDRESS:**
- **STREET 1:** 695 ATLANTIC AVENUE
- **STREET 2:** 4TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02111

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Verdad Advisers LP<br>**Address:** 695 ATLANTIC AVENUE<br>4TH FLOOR<br>BOSTON, MA 02111

**Form 13F File Number:** 028-20934

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** DANIEL RASMUSSEN<br>**Title:** Managing Partner<br>**Phone:** 2022516707

**Signature, Place, and Date of Signing:**

DANIEL RASMUSSEN Managing Partner  BOSTON, MA  02-17-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 104

**Form 13F Information Table Value Total:** $87384482

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ACADEMY SPORTS  OUTDOORS IN | COM | 00402L107 |  | 749400 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| ACCO BRANDS CORP | COM | 00081T108 |  | 373000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 830727 | 3879 | SH |  | SOLE |  | 3879 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2655492 | 8484 | SH |  | SOLE |  | 8484 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 799099 | 3462 | SH |  | SOLE |  | 3462 | 0 | 0 |
| AMERICAN CENTY ETF TR | INTL SMCP VLU | 025072802 |  | 1315580 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| AMERICAN INTEGRITY INS GROUP | COM | 026948109 |  | 781958 | 37540 | SH |  | SOLE |  | 37540 | 0 | 0 |
| AMN HEALTHCARE SVCS INC | COM | 001744101 |  | 709200 | 45000 | SH |  | SOLE |  | 45000 | 0 | 0 |
| ANYWHERE REAL ESTATE INC | COM | 75605Y106 |  | 508500 | 35911 | SH |  | SOLE |  | 35911 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 1142628 | 4203 | SH |  | SOLE |  | 4203 | 0 | 0 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 294031 | 2244 | SH |  | SOLE |  | 2244 | 0 | 0 |
| ASA GOLD AND PRECIOUS MTLS L | SHS | G3156P103 |  | 300677 | 5039 | SH |  | SOLE |  | 5039 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 1725411 | 69461 | SH |  | SOLE |  | 69461 | 0 | 0 |
| AVNET INC | COM | 053807103 |  | 240400 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 554565 | 10083 | SH |  | SOLE |  | 10083 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 1713604 | 14761 | SH |  | SOLE |  | 14761 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 200055 | 398 | SH |  | SOLE |  | 398 | 0 | 0 |
| BLACK DIAMOND THERAPEUTICS I | COM | 09203E105 |  | 233975 | 96286 | SH |  | SOLE |  | 96286 | 0 | 0 |
| BLOOMIN BRANDS INC | COM | 094235108 |  | 617000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| BORGWARNER INC | COM | 099724106 |  | 939050 | 20840 | SH |  | SOLE |  | 20840 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 342639 | 990 | SH |  | SOLE |  | 990 | 0 | 0 |
| CAL MAINE FOODS INC | COM NEW | 128030202 |  | 1643200 | 20651 | SH |  | SOLE |  | 20651 | 0 | 0 |
| CALIFORNIA RES CORP | COM STOCK | 13057Q305 |  | 321018 | 7180 | SH |  | SOLE |  | 7180 | 0 | 0 |
| CALIX INC | COM | 13100M509 |  | 651727 | 12313 | SH |  | SOLE |  | 12313 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 460969 | 1902 | SH |  | SOLE |  | 1902 | 0 | 0 |
| CARTERS INC | COM | 146229109 |  | 648600 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| CASTLE BIOSCIENCES INC | COM | 14843C105 |  | 275607 | 7085 | SH |  | SOLE |  | 7085 | 0 | 0 |
| CBRE GROUP INC | CL A | 12504L109 |  | 1814998 | 11288 | SH |  | SOLE |  | 11288 | 0 | 0 |
| CHATHAM LODGING TR | COM | 16208T102 |  | 783150 | 115000 | SH |  | SOLE |  | 115000 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 2820804 | 18508 | SH |  | SOLE |  | 18508 | 0 | 0 |
| CIENA CORP | COM NEW | 171779309 |  | 1265938 | 5413 | SH |  | SOLE |  | 5413 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 2304584 | 29918 | SH |  | SOLE |  | 29918 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 4031990 | 34553 | SH |  | SOLE |  | 34553 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 2941056 | 98396 | SH |  | SOLE |  | 98396 | 0 | 0 |
| COMPASS INC | CL A | 20464U100 |  | 144069 | 13630 | SH |  | SOLE |  | 13630 | 0 | 0 |
| CONSENSUS CLOUD SOLUTIONS IN | COM | 20848V105 |  | 327300 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 828580 | 9463 | SH |  | SOLE |  | 9463 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 1246349 | 15705 | SH |  | SOLE |  | 15705 | 0 | 0 |
| DANA INC | COM | 235825205 |  | 269248 | 11332 | SH |  | SOLE |  | 11332 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 214229 | 1883 | SH |  | SOLE |  | 1883 | 0 | 0 |
| EGAIN CORP | COM NEW | 28225C806 |  | 339282 | 32972 | SH |  | SOLE |  | 32972 | 0 | 0 |
| FINVOLUTION GROUP | SPONSORED ADS | 31810T101 |  | 146346 | 27982 | SH |  | SOLE |  | 27982 | 0 | 0 |
| FORD MTR CO | COM | 345370860 |  | 865920 | 66000 | SH |  | SOLE |  | 66000 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 1287296 | 15830 | SH |  | SOLE |  | 15830 | 0 | 0 |
| GLOBAL SHIP LEASE INC NEW | COM CL A | Y27183600 |  | 859636 | 24533 | SH |  | SOLE |  | 24533 | 0 | 0 |
| GRAY MEDIA INC | COM | 389375106 |  | 140404 | 29009 | SH |  | SOLE |  | 29009 | 0 | 0 |
| HCI GROUP INC | COM | 40416E103 |  | 263574 | 1375 | SH |  | SOLE |  | 1375 | 0 | 0 |
| HELLO GROUP INC | ADS | 423403104 |  | 715371 | 109217 | SH |  | SOLE |  | 109217 | 0 | 0 |
| HERITAGE INSURANCE HLDGS INC | COM | 42727J102 |  | 841927 | 28774 | SH |  | SOLE |  | 28774 | 0 | 0 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824C109 |  | 238278 | 9920 | SH |  | SOLE |  | 9920 | 0 | 0 |
| INFORMATION SVCS GROUP INC | COM | 45675Y104 |  | 66973 | 11587 | SH |  | SOLE |  | 11587 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 441324 | 11960 | SH |  | SOLE |  | 11960 | 0 | 0 |
| JEFFERIES FINL GROUP INC | COM | 47233W109 |  | 434348 | 7009 | SH |  | SOLE |  | 7009 | 0 | 0 |
| JFROG LTD | ORD SHS | M6191J100 |  | 420855 | 6738 | SH |  | SOLE |  | 6738 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 3602586 | 17408 | SH |  | SOLE |  | 17408 | 0 | 0 |
| JONES LANG LASALLE INC | COM | 48020Q107 |  | 232164 | 690 | SH |  | SOLE |  | 690 | 0 | 0 |
| KIMBALL ELECTRONICS INC | COM | 49428J109 |  | 213852 | 7687 | SH |  | SOLE |  | 7687 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 2648326 | 15471 | SH |  | SOLE |  | 15471 | 0 | 0 |
| LEVI STRAUSS  CO NEW | CL A COM STK | 52736R102 |  | 216692 | 10448 | SH |  | SOLE |  | 10448 | 0 | 0 |
| MACYS INC | COM | 55616P104 |  | 503181 | 22820 | SH |  | SOLE |  | 22820 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 1225858 | 11646 | SH |  | SOLE |  | 11646 | 0 | 0 |
| MESABI TR | CTF BEN INT | 590672101 |  | 753721 | 19567 | SH |  | SOLE |  | 19567 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 1936792 | 6786 | SH |  | SOLE |  | 6786 | 0 | 0 |
| MISTRAS GROUP INC | COM | 60649T107 |  | 632500 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| MONGODB INC | CL A | 60937P106 |  | 491457 | 1171 | SH |  | SOLE |  | 1171 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 1473499 | 8300 | SH |  | SOLE |  | 8300 | 0 | 0 |
| NATERA INC | COM | 632307104 |  | 725528 | 3167 | SH |  | SOLE |  | 3167 | 0 | 0 |
| NATURES SUNSHINE PRODS INC | COM | 639027101 |  | 242149 | 11221 | SH |  | SOLE |  | 11221 | 0 | 0 |
| NIO INC | SPON ADS | 62914V106 |  | 109395 | 21450 | SH |  | SOLE |  | 21450 | 0 | 0 |
| NORTH EUROPEAN OIL RTY TR | SH BEN INT | 659310106 |  | 94147 | 14308 | SH |  | SOLE |  | 14308 | 0 | 0 |
| NU SKIN ENTERPRISES INC | CL A | 67018T105 |  | 757556 | 78748 | SH |  | SOLE |  | 78748 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1174764 | 6299 | SH |  | SOLE |  | 6299 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 284045 | 1598 | SH |  | SOLE |  | 1598 | 0 | 0 |
| PC CONNECTION INC | COM | 69318J100 |  | 472592 | 8182 | SH |  | SOLE |  | 8182 | 0 | 0 |
| PERDOCEO ED CORP | COM | 71363P106 |  | 723395 | 24664 | SH |  | SOLE |  | 24664 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 1322016 | 53093 | SH |  | SOLE |  | 53093 | 0 | 0 |
| PLAYSTUDIOS INC | CLASS A COM | 72815G108 |  | 48037 | 73733 | SH |  | SOLE |  | 73733 | 0 | 0 |
| PUMA BIOTECHNOLOGY INC | COM | 74587V107 |  | 330475 | 55542 | SH |  | SOLE |  | 55542 | 0 | 0 |
| PURE STORAGE INC | CL A | 74624M102 |  | 448498 | 6693 | SH |  | SOLE |  | 6693 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 1193758 | 6979 | SH |  | SOLE |  | 6979 | 0 | 0 |
| RALPH LAUREN CORP | CL A | 751212101 |  | 982329 | 2778 | SH |  | SOLE |  | 2778 | 0 | 0 |
| RIGEL PHARMACEUTICALS INC | COM | 766559702 |  | 371722 | 8679 | SH |  | SOLE |  | 8679 | 0 | 0 |
| ROCKY BRANDS INC | COM | 774515100 |  | 439950 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| ROKU INC | COM CL A | 77543R102 |  | 410526 | 3784 | SH |  | SOLE |  | 3784 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 401074 | 1514 | SH |  | SOLE |  | 1514 | 0 | 0 |
| SECURITY NATL FINL CORP | CL A NEW | 814785309 |  | 728008 | 80800 | SH |  | SOLE |  | 80800 | 0 | 0 |
| SMART SAND INC | COM | 83191H107 |  | 403956 | 100989 | SH |  | SOLE |  | 100989 | 0 | 0 |
| SMART SH GLOBAL LTD | ADS | 83193E102 |  | 353204 | 301884 | SH |  | SOLE |  | 301884 | 0 | 0 |
| SONOS INC | COM | 83570H108 |  | 589437 | 33567 | SH |  | SOLE |  | 33567 | 0 | 0 |
| TEGNA INC | COM | 87901J105 |  | 2489868 | 2510000 | SH |  | SOLE |  | 2510000 | 0 | 0 |
| TERADYNE INC | COM | 880770102 |  | 200528 | 1036 | SH |  | SOLE |  | 1036 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 3809682 | 24801 | SH |  | SOLE |  | 24801 | 0 | 0 |
| TUNIU CORP | SPONSORED ADS | 89977P106 |  | 13642 | 22004 | SH |  | SOLE |  | 22004 | 0 | 0 |
| TUYA INC | SPONSERED ADS | 90114C107 |  | 67355 | 31922 | SH |  | SOLE |  | 31922 | 0 | 0 |
| VIATRIS INC | COM | 92556V106 |  | 809250 | 65000 | SH |  | SOLE |  | 65000 | 0 | 0 |
| VILLAGE SUPER MKT INC | CL A NEW | 927107409 |  | 707900 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| VIOMI TECHNOLOGY CO LTD | SPONSORED ADS | 92762J103 |  | 97100 | 52772 | SH |  | SOLE |  | 52772 | 0 | 0 |
| VOYA FINANCIAL INC | COM | 929089100 |  | 1899120 | 2000000 | SH |  | SOLE |  | 2000000 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 941526 | 8451 | SH |  | SOLE |  | 8451 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 308720 | 10712 | SH |  | SOLE |  | 10712 | 0 | 0 |
| WM TECHNOLOGY INC | COM | 92971A109 |  | 338285 | 409993 | SH |  | SOLE |  | 409993 | 0 | 0 |
| X FINL | SPONSORED ADS | 98372W202 |  | 81598 | 14571 | SH |  | SOLE |  | 14571 | 0 | 0 |
| YIREN DIGITAL LTD | SPONSORED ADS | 98585L100 |  | 194642 | 52606 | SH |  | SOLE |  | 52606 | 0 | 0 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 1806136 | 20931 | SH |  | SOLE |  | 20931 | 0 | 0 |

---