13F filer · reported 2026-Q1 · filed 2026-05-15 · Δ vs 2025-Q4 · US-listed long positions only 13F portfolio $5.1B · Positions 27 · Top 10 66.2% · Effective N 16.7 Filer13F 2026-Q1 | CIK1376879 | Reported quarter2026-Q1 | | Prior quarter2025-Q4 | Filed2026-05-15 | | Reported value$5.1B | Positions27 |
Authorized signatory: Dina Guirguis · Chief Compliance Officer — the person who SIGNED this filer's latest 13F, frequently a compliance officer, general counsel or CFO, and not necessarily the portfolio manager. Reported 2026-Q1 · filed 2026-05-15ⓘ Implied return1.14y vs SPY | Cumulative−7.3% | CAGR−6.4% | | vs SPY−28.3pp | Vol (ann.)16.4% | | Sharpe−0.33 | Max drawdown−23.7% | | Beta0.78 | Avg coverage100% | | Quarters replayed3 | |
2025-06-30 → 2026-08-21 · HYPOTHETICAL replication, not actual returnsⓘ Contribution10 of 34 names | Ticker | Avg wt | Return | Contrib. |
|---|
| FLUT | 6.8% | −65.7% | −8.96pp | | ADI | 5.3% | +49.9% | +2.34pp | | CSCO | 2.8% | +68.4% | +1.89pp | | GE | 5.6% | +31.4% | +1.71pp | | WAT | 4.2% | +35.9% | +1.50pp | | CPRT | 2.2% | −31.0% | −1.29pp | | CP | 2.7% | +30.4% | +1.12pp | | AMZN | 6.2% | +13.0% | +1.02pp | | ALC | 10.7% | −9.8% | −0.95pp | | INTU · exited | 2.9% | −44.2% | −0.86pp |
Carino-linked; contributions sum to the book return — modeled, not actual results. 2025-08-24 → 2026-08-24 · book −5.3% · SPY +20.0% · largest absolute contributors first · HYPOTHETICALⓘ Top holdings12 of 27 · 74.8% of book | Holding | Weight | Value | Δ shares |
|---|
| ALC | 13.6% | $696M | +21.3% | | AMZN | 7.1% | $361M | −0.4% | | V | 7.0% | $359M | −17.5% | | ADI | 6.4% | $328M | −17.5% | | RACE | 6.1% | $311M | −1.9% | | ICE | 5.7% | $294M | −10.4% | | GE | 5.5% | $283M | −10.1% | | MSFT | 5.3% | $272M | −28.0% | | WAT | 4.8% | $243M | +8.4% | | CSCO | 4.6% | $236M | −2.3% | | MCO | 4.4% | $223M | −30.6% | | CP | 4.2% | $216M | −7.1% |
Weights as filed for 2026-Q1 · Δ vs 2025-Q4ⓘ Sector split7 sectors | Sector | N | Weight |
|---|
| Information Technology | 6 | 21.3% | | Health Care | 3 | 20.0% | | Financials | 5 | 19.5% | | Consumer Discretionary | 3 | 17.3% | | Industrials | 6 | 15.4% | | Materials | 3 | 3.9% | | Utilities | 1 | 2.5% |
SIC-derived, not GICSⓘ Sector history8 of 38 quarters | Sector | 2024-Q2 | 2024-Q3 | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Information Technology | 28.6% | 26.7% | 26.6% | 31.5% | 34.9% | 34.6% | 33.1% | 21.3% | | Health Care | 18.9% | 18.9% | 17.6% | 19.3% | 15.8% | 13.3% | 13.6% | 20.0% | | Financials | 21.5% | 24.2% | 25.1% | 24.9% | 22.6% | 23.0% | 23.6% | 19.5% | | Consumer Discretionary | 11.0% | 11.7% | 12.9% | 11.1% | 13.1% | 15.0% | 14.9% | 17.3% | | Industrials | 10.3% | 11.1% | 12.4% | 12.7% | 13.1% | 13.6% | 14.6% | 15.4% | | Materials | 4.2% | 2.2% | 0.7% | 0.5% | 0.5% | 0.5% | 0.1% | 3.9% | | Utilities | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.5% | | Consumer Staples | 2.4% | 2.4% | 2.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Communication Services | 3.1% | 2.8% | 1.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Unclassified | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Top-10 concentration | 57.3% | 59.7% | 59.6% | 63.0% | 68.3% | 68.5% | 67.3% | 66.2% |
SIC-derived, not GICS · 100% of the latest book classified · share of the filed book, per quarterⓘ Basis & disclosures - As filed · positions and weights exactly as the 13F states them · nothing imputed · absent “—”
- 13F is US-listed long only · filed up to 45 days after quarter-end · a LOWER bound on what this filer manages, never a total — shorts, options, cash, bonds and non-US listings are outside it
- As filed — the holdings and weights are the 13F itself; no return engine produced them
- Implied returns are a replication, not a track record · the filed book valued daily and rebalanced to each new filing · no fees, no timing, and nothing a 13F does not carry
- Not investment advice · no recommendation, forecast or offer · past ≠ future · this is a filer's public record, not a solicitation
- SEC Form 13F · SEC Form ADV · licensed end-of-day prices · spzco.com/methodology
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