13F filer · reported 2026-Q1 · filed 2026-05-15 · Δ vs 2025-Q4 · US-listed long positions only 13F portfolio $524M · Positions 6 · Top 10 100.0% · Effective N 3.0 Filer13F 2026-Q1 | CIK1773994 | Reported quarter2026-Q1 | | Prior quarter2025-Q4 | Filed2026-05-15 | | Reported value$524M | Positions6 |
Authorized signatory: Gregory Alexander · Managing Member — the person who SIGNED this filer's latest 13F, frequently a compliance officer, general counsel or CFO, and not necessarily the portfolio manager. Owners & officers (ADV Schedule A): ALEXANDER, GREGORY (MANAGING MEMBER) · BENWITT, MICHAEL, G (GENERAL COUNSEL) · Dennis, Patrick, Lewis (CHIEF FINANCIAL OFFICER) · LEE-COTOIA, YAU DUN (CHIEF COMPLIANCE OFFICER) · Rusk, JENNIFER, E (CHIEF OPERATING OFFICER) Reported 2026-Q1 · filed 2026-05-15ⓘ Implied return1.14y vs SPY | Cumulative−16.8% | CAGR−14.9% | | vs SPY−36.7pp | Vol (ann.)26.7% | | Sharpe−0.47 | Max drawdown−30.9% | | Beta0.82 | Avg coverage100% | | Quarters replayed3 | |
2025-06-30 → 2026-08-21 · HYPOTHETICAL replication, not actual returnsⓘ Contribution7 of 7 names | Ticker | Avg wt | Return | Contrib. |
|---|
| GPI | 41.4% | −44.0% | −20.04pp | | NBIS · exited | 0.5% | +217.7% | +2.87pp | | EQH | 32.3% | −6.3% | −2.06pp | | MNDY | 2.1% | −49.0% | +1.43pp | | SDHC | 3.1% | −39.8% | −1.32pp | | RMNI | 3.8% | +24.1% | +0.91pp | | LAD | 16.8% | +14.3% | −0.85pp |
Carino-linked; contributions sum to the book return — modeled, not actual results. 2025-08-24 → 2026-08-24 · book −19.1% · SPY +20.0% · largest absolute contributors first · HYPOTHETICALⓘ Top holdings6 of 6 · 100.0% of book | Holding | Weight | Value | Δ shares |
|---|
| GPI | 47.7% | $250M | +32.8% | | EQH | 29.8% | $156M | +0.0% | | LAD | 10.1% | $53M | −47.0% | | MNDY | 5.3% | $28M | new | | RMNI | 3.7% | $19M | +0.0% | | SDHC | 3.5% | $18M | +0.0% |
Weights as filed for 2026-Q1 · Δ vs 2025-Q4ⓘ Sector split4 sectors | Sector | N | Weight |
|---|
| Consumer Discretionary | 2 | 57.8% | | Financials | 1 | 29.8% | | Industrials | 2 | 7.2% | | Unclassified | 1 | 5.3% |
SIC-derived, not GICS · 95% of weight classifiedⓘ Sector history8 of 26 quarters | Sector | 2024-Q2 | 2024-Q3 | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Consumer Discretionary | 59.7% | 64.8% | 58.6% | 55.2% | 54.3% | 59.4% | 59.1% | 57.8% | | Financials | 30.1% | 28.9% | 30.4% | 39.5% | 36.5% | 33.8% | 33.2% | 29.8% | | Industrials | 2.2% | 1.3% | 2.0% | 3.1% | 4.2% | 6.8% | 7.8% | 7.2% | | Unclassified | 8.0% | 5.0% | 8.9% | 2.2% | 5.0% | 0.0% | 0.0% | 5.3% | | Communication Services | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Information Technology | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Real Estate | 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 · 95% 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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