13F filer · reported 2026-Q2 · filed 2026-08-14 · Δ vs 2026-Q1 · US-listed long positions only 13F portfolio $3.7B · Positions 3 · Top 10 100.0% · Effective N 2.1 Filer13F 2026-Q2 | CIK1365341 | Reported quarter2026-Q2 | | Prior quarter2026-Q1 | Filed2026-08-14 | | Reported value$3.7B | Positions3 |
Authorized signatory: Mark Caterer · 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-Q2 · filed 2026-08-14ⓘ Implied return1.14y vs SPY | Cumulative+41.4% | CAGR+35.4% | | vs SPY+13.6pp | Vol (ann.)22.1% | | Sharpe1.49 | Max drawdown−23.3% | | Beta1.21 | Avg coverage100% | | Quarters replayed4 | |
2025-06-30 → 2026-08-21 · HYPOTHETICAL replication, not actual returnsⓘ Contribution3 of 3 names | Ticker | Avg wt | Return | Contrib. |
|---|
| UBS | 60.2% | +37.1% | +21.78pp | | CRH | 18.2% | −15.2% | −2.88pp | | ALV | 21.6% | +4.0% | +0.73pp |
Carino-linked; contributions sum to the book return — modeled, not actual results. 2025-08-24 → 2026-08-24 · book +19.6% · SPY +20.0% · largest absolute contributors first · HYPOTHETICALⓘ Top holdings3 of 3 · 100.0% of book | Holding | Weight | Value | Δ shares |
|---|
| UBS | 64.5% | $2.4B | +0.0% | | ALV | 19.8% | $732M | +0.0% | | CRH | 15.7% | $581M | −0.8% |
Weights as filed for 2026-Q2 · Δ vs 2026-Q1ⓘ Sector split3 sectors | Sector | N | Weight |
|---|
| Financials | 1 | 64.5% | | Consumer Discretionary | 1 | 19.8% | | Materials | 1 | 15.7% |
SIC-derived, not GICSⓘ Sector history8 of 41 quarters | Sector | 2024-Q2 | 2024-Q3 | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Financials | 43.6% | 42.6% | 51.5% | 56.4% | 57.4% | 57.9% | 60.9% | 60.3% | | Consumer Discretionary | 22.7% | 18.5% | 22.9% | 23.4% | 24.9% | 22.8% | 20.4% | 21.2% | | Materials | 33.7% | 38.9% | 25.6% | 20.2% | 17.7% | 19.3% | 18.7% | 18.5% | | Unclassified | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Top-10 concentration | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
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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