# EDGAR Filing Document

**Accession Number:** 0001483864
**File Stem:** 0000935836-26-000081
**Filing Date:** 2026-2
**Character Count:** 11715
**Document Hash:** 750974a71a9406cfb9911f5ae0af7b4f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000935836-26-000081.hdr.sgml**: 20260212

**ACCESSION NUMBER**: 0000935836-26-000081

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260212

**DATE AS OF CHANGE**: 20260212

**EFFECTIVENESS DATE**: 20260212

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JBF Capital, Inc.
- **CENTRAL INDEX KEY:** 0001483864

**ORGANIZATION NAME:**
- **EIN:** 134259470
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13723
- **FILM NUMBER:** 26624128

**BUSINESS ADDRESS:**
- **STREET 1:** 306 WEST FRANCIS STREET
- **CITY:** ASPEN
- **STATE:** CO
- **ZIP:** 81611
- **BUSINESS PHONE:** 970-319-8251

**MAIL ADDRESS:**
- **STREET 1:** 306 WEST FRANCIS STREET
- **CITY:** ASPEN
- **STATE:** CO
- **ZIP:** 81611

### 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:** JBF Capital Inc.<br>**Address:** 306 West Francis Street<br>Aspen, CO 81611

**Form 13F File Number:** 028-13723

**CRD Number (if applicable):** 000131277

**SEC File Number (if applicable):** 801-73999

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:** John B. Fullerton<br>**Title:** President<br>**Phone:** 970-920-1145

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

/s/ John B. Fullerton  Aspen, CO  02-11-2026<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:** 78

**Form 13F Information Table Value Total:** $692768313

      (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 |
| AERCAP HOLDINGS NV | SHS | N00985106 |  | 2803320 | 19500 | SH |  | OTR |  | 0 | 19500 | 0 |
| AFFILIATED MANAGERS GROUP | COM | 008252108 |  | 201796 | 700 | SH |  | SOLE |  | 700 | 0 | 0 |
| ALPHABET INC. CMN  CLASS A | COM | 02079K305 |  | 31300000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| AMAZON.COM INC CMN | COM | 023135106 |  | 62783040 | 272000 | SH |  | SOLE |  | 272000 | 0 | 0 |
| AMERIPRISE FINANCIAL INC | COM | 03076C106 |  | 257429 | 525 | SH |  | OTR |  | 0 | 525 | 0 |
| APARTMENT INVT  MGMT CO | PUT | 03748R957 |  | 653400 | 110000 | SH |  | OTR |  | 0 | 110000 | 0 |
| ARK GENOMIC REVOLUTION CMN | ETF | 00214Q302 |  | 521460 | 18000 | SH |  | SOLE |  | 18000 | 0 | 0 |
| ASML HOLDING N.V. ADR CMN | COM | N07059210 |  | 3209580 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| AVADEL PHARMACEUTICALS | COM SHS | G29687103 |  | 862000 | 40000 | SH |  | OTR |  | 0 | 40000 | 0 |
| BANCO BILBAO VIZCAYA-SP ADR | SPONSORED ADR | 05946K101 |  | 641025 | 27500 | SH |  | OTR |  | 0 | 27500 | 0 |
| BARCLAYS BANK PLC - IPATH SERIES B S 500 VIX S-T FUT ETN CMN CLASS ETF | ETF | 06748M196 |  | 4394020 | 166000 | SH |  | SOLE |  | 166000 | 0 | 0 |
| BATH  BODY WORKS INC | COM | 070830104 |  | 261040 | 13000 | SH |  | OTR |  | 0 | 13000 | 0 |
| BREAD FINANCIAL HOLDINGS INC | COM | 018581108 |  | 444180 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| BROADCOM INC. CMN | COM | 11135F101 |  | 6160580 | 17800 | SH |  | SOLE |  | 17800 | 0 | 0 |
| BROOKFIELD CORPORATION CMN  CLASS A | COM | 11271J107 |  | 458900 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| CAPITAL ONE FINANCIAL CORP | COM | 14040H105 |  | 848260 | 3500 | SH |  | OTR |  | 0 | 3500 | 0 |
| CENTENE CORP | COM | 15135B101 |  | 411500 | 10000 | SH |  | OTR |  | 0 | 10000 | 0 |
| CERAGON NETWORKS LTD CMN | COM | M22013102 |  | 76562 | 36458 | SH |  | SOLE |  | 36458 | 0 | 0 |
| COMCAST CORP-CLASS A | CL A | 20030N101 |  | 209230 | 7000 | SH |  | OTR |  | 0 | 7000 | 0 |
| COMMERCIAL BANCGROUP INC CMN | COM | 20112C106 |  | 6140000 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| COYA THERAPEUTICS INC. CMN | COM | 22407B108 |  | 580035 | 100006 | SH |  | SOLE |  | 100006 | 0 | 0 |
| CRH PUBLIC LIMITED COMPANY CMN | COM | G25508105 |  | 1872000 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| CROCS INC | COM | 227046109 |  | 205248 | 2400 | SH |  | OTR |  | 0 | 2400 | 0 |
| DIAMOND HILL INVESTMENT GROUP CMN | COM | 25264R207 |  | 2608266 | 15388 | SH |  | SOLE |  | 15388 | 0 | 0 |
| DMC GLOBAL INC | COM | 23291C103 |  | 133800 | 20000 | SH |  | OTR |  | 0 | 20000 | 0 |
| ECOPETROL SA-SPONSORED ADR | SPONSORED ADS | 279158109 |  | 200400 | 20000 | SH |  | OTR |  | 0 | 20000 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 210330 | 600 | SH |  | OTR |  | 0 | 600 | 0 |
| ELME COMMUNITIES | SH BEN INT | 939653101 |  | 696000 | 40000 | SH |  | OTR |  | 0 | 40000 | 0 |
| ENERGY TRANSFER LP CMN | COM | 29273V100 |  | 494700 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 268680 | 4000 | SH |  | OTR |  | 0 | 4000 | 0 |
| FIVE POINT HOLDINGS LLC-CL A | COM CL A | 33833Q106 |  | 55900 | 10000 | SH |  | OTR |  | 0 | 10000 | 0 |
| FORESTAR GROUP INC | COM | 346232101 |  | 246300 | 10000 | SH |  | OTR |  | 0 | 10000 | 0 |
| GARRETT MOTION INC | COM | 366505105 |  | 2701650 | 155000 | SH |  | OTR |  | 0 | 155000 | 0 |
| GENERAL MOTORS CO | COM | 37045V100 |  | 406600 | 5000 | SH |  | OTR |  | 0 | 5000 | 0 |
| GLOBAL PAYMENTS INC | COM | 37940X102 |  | 433440 | 5600 | SH |  | OTR |  | 0 | 5600 | 0 |
| GREEN BRICK PARTNERS INC. CMN | COM | 392709101 |  | 27352970 | 436530 | SH |  | SOLE |  | 436530 | 0 | 0 |
| GSK PLC ADR CMN | COM | 37733W204 |  | 4904000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| IF BANCORP INC | COM | 44951J105 |  | 323520 | 12000 | SH |  | OTR |  | 0 | 12000 | 0 |
| INVESCO QQQ TRUST ETF SERIES 1 ETF | ETF | 46090E103 |  | 22115160 | 36000 | SH |  | SOLE |  | 36000 | 0 | 0 |
| INVESCO S 500 EQUAL WEIGHT ETF | ETF | 46137V357 |  | 9578000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| ISHARES INTERNATIONAL SMALL-CAP EQUITY FACTOR ETF ETF | ETF | 46434V266 |  | 2335822 | 56312 | SH |  | SOLE |  | 56312 | 0 | 0 |
| ISHARES MSCI INTERNATIONAL VALUE FACTOR ETF CMN | ETF | 46435G409 |  | 2283000 | 60000 | SH |  | SOLE |  | 60000 | 0 | 0 |
| JPMORGAN CHASE  CO CMN | COM | 46625H100 |  | 1611100 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| KB FINANCIAL GROUP INC-ADR | SPONSORED ADR | 48241A105 |  | 473220 | 5500 | SH |  | OTR |  | 0 | 5500 | 0 |
| KOREA FUND INC (THE) MUTUAL FUND | COM | 500634209 |  | 5157440 | 142000 | SH |  | SOLE |  | 142000 | 0 | 0 |
| LAUREATE EDUCATION INC-A | COMMON STOCK | 518613203 |  | 1178450 | 35000 | SH |  | OTR |  | 0 | 35000 | 0 |
| LIBERTY BROADBAND-A | COM SER A | 530307107 |  | 265540 | 5500 | SH |  | OTR |  | 0 | 5500 | 0 |
| LOWES COMPANIES INC CMN | COM | 548661107 |  | 9357008 | 38800 | SH |  | SOLE |  | 38800 | 0 | 0 |
| LUFAX HOLDING LTD-ADR | SPONSORED ADR | 54975P201 |  | 870103 | 339884 | SH |  | OTR |  | 0 | 339884 | 0 |
| META PLATFORMS INC-CLASS A CMN CLASS A | COM | 30303M102 |  | 13531845 | 20500 | SH |  | SOLE |  | 20500 | 0 | 0 |
| MICRON TECHNOLOGY INC. CMN | COM | 595112103 |  | 2854100 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| MICROSOFT CORPORATION CMN | COM | 594918104 |  | 82084823 | 169730 | SH |  | SOLE |  | 169730 | 0 | 0 |
| NET LEASE OFFICE PROPERTY | COM | 64110Y108 |  | 831160 | 32228 | SH |  | OTR |  | 0 | 32228 | 0 |
| NETFLIX INC. CMN | COM | 64110L106 |  | 6469440 | 69000 | SH |  | SOLE |  | 69000 | 0 | 0 |
| NEURONETICS INC. CMN | COM | 64131A105 |  | 321769 | 233166 | SH |  | SOLE |  | 233166 | 0 | 0 |
| NOAH HOLDINGS LTD-SPON ADS | SPON ADS | 65487X102 |  | 110440 | 11000 | SH |  | OTR |  | 0 | 11000 | 0 |
| NVIDIA CORPORATION CMN | COM | 67066G104 |  | 9138500 | 49000 | SH |  | SOLE |  | 49000 | 0 | 0 |
| ONEMAIN HOLDINGS INC | COM | 68268W103 |  | 297220 | 4400 | SH |  | OTR |  | 0 | 4400 | 0 |
| PETROLEO BRASIL-SP PREF ADR | SPONSORED ADR | 71654V408 |  | 698740 | 62000 | SH |  | OTR |  | 0 | 62000 | 0 |
| PFIZER INC. CMN | COM | 717081103 |  | 2490000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| PUT/SPY                 @ 525 EXP 09/18/2026 | PUT | 78462F103 |  | 692000 | 1000 | SH | Put | SOLE |  | 0 | 0 | 0 |
| PUT/TSLA                @ 130 EXP 12/18/2026 | PUT | 88160R101 |  | 522750 | 1700 | SH | Put | SOLE |  | 0 | 0 | 0 |
| REGENERON PHARMACEUTICAL INC CMN | COM | 75886F107 |  | 3859350 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| SERITAGE GROWTH PROP- A REIT | CL A | 81752R100 |  | 195000 | 60000 | SH |  | OTR |  | 0 | 60000 | 0 |
| SLM CORP | COM | 78442P106 |  | 460020 | 17000 | SH |  | OTR |  | 0 | 17000 | 0 |
| SOTHERLY HOTELS INC | COM | 83600C103 |  | 215000 | 100000 | SH |  | OTR |  | 0 | 100000 | 0 |
| STATE STREET SPDR S BIOTECH ETF ETF | ETF | 78464A870 |  | 12802650 | 105000 | SH |  | SOLE |  | 105000 | 0 | 0 |
| STIFEL FINANCIAL CORP CMN | COM | 860630102 |  | 1252200 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| SYNCHRONY FINANCIAL | COM | 87165B103 |  | 1610199 | 19300 | SH |  | OTR |  | 0 | 19300 | 0 |
| THE HOME DEPOT INC. CMN | COM | 437076102 |  | 3222496 | 9365 | SH |  | SOLE |  | 9365 | 0 | 0 |
| TURKCELL ILETISIM HIZMET-ADR | SPON ADR NEW | 900111204 |  | 82050 | 15000 | SH |  | OTR |  | 0 | 15000 | 0 |
| UNITED RENTALS INC. CMN | COM | 911363109 |  | 5665240 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 297099 | 900 | SH |  | OTR |  | 0 | 900 | 0 |
| VANGUARD INDEX  FUNDS VANGUARD TOTAL STK MKT ETF ETF ON CRSPTMT | ETF | 922908769 |  | 335270 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| VANGUARD S 500 ETF | ETF | 922908363 |  | 319285053 | 509121 | SH |  | SOLE |  | 509121 | 0 | 0 |
| VIEMED HEALTHCARE INC. | COM | 92663R105 |  | 323785 | 43578 | SH |  | OTR |  | 0 | 43578 | 0 |
| XPEL INC | COM | 98379L100 |  | 748650 | 15000 | SH |  | OTR |  | 0 | 15000 | 0 |
| XPO INC CMN | COM | 983793100 |  | 815460 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |

---