13F filer · reported 2026-Q2 · filed 2026-08-14 · Δ vs 2026-Q1 · US-listed long positions only 13F portfolio $10.3B · Positions 36 · Top 10 59.1% · Effective N 20.7 Filer13F 2026-Q2 | CIK1798849 | Reported quarter2026-Q2 | | Prior quarter2026-Q1 | Filed2026-08-14 | | Reported value$10.3B | Positions36 |
Authorized signatory: Julie Jack · General Counsel & 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 return1.15y vs SPY | Cumulative−3.0% | CAGR−2.6% | | vs SPY−24.0pp | Vol (ann.)27.0% | | Sharpe0.04 | Max drawdown−22.6% | | Beta1.36 | Avg coverage98% | | Quarters replayed4 | |
2025-06-30 → 2026-08-24 · HYPOTHETICAL replication, not actual returnsⓘ Contribution10 of 63 names | Ticker | Avg wt | Return | Contrib. |
|---|
| RBC | 10.1% | +24.1% | +2.74pp | | XPO | 5.0% | +42.6% | +2.31pp | | FOUR | 3.4% | −46.9% | −2.31pp | | CPNG | 4.2% | −42.4% | −2.26pp | | CIGI · exited | 2.9% | −36.0% | −1.94pp | | Q | 3.2% | — | +1.66pp | | RBLX · exited | 1.6% | −68.9% | −1.44pp | | VEEV · exited | 1.4% | −12.9% | −1.06pp | | DUOL · exited | 0.9% | −54.3% | −1.06pp | | RKT | 2.3% | −24.8% | −0.87pp |
Carino-linked; contributions sum to the book return — modeled, not actual results. 2025-08-25 → 2026-08-25 · book −5.3% · SPY +20.2% · largest absolute contributors first · HYPOTHETICALⓘ Top holdings12 of 36 · 65.9% of book | Holding | Weight | Value | Δ shares |
|---|
| RBC | 10.7% | $1.1B | −24.9% | | DASH | 7.5% | $767M | −2.8% | | Q | 7.2% | $744M | −10.5% | | FERG | 6.9% | $707M | +35.9% | | MELI | 5.1% | $524M | −12.0% | | APG | 5.0% | $514M | −17.9% | | XPO | 4.8% | $498M | −17.4% | | CVNA | 4.3% | $442M | +575.0% | | MAIR | 3.9% | $398M | new | | TWLO | 3.7% | $381M | new | | AFRM | 3.5% | $361M | −21.7% | | FN | 3.3% | $339M | +178.7% |
Weights as filed for 2026-Q2 · Δ vs 2026-Q1ⓘ Sector split7 sectors | Sector | N | Weight |
|---|
| Industrials | 13 | 46.4% | | Information Technology | 6 | 17.8% | | Consumer Discretionary | 4 | 12.9% | | Health Care | 6 | 7.9% | | Financials | 3 | 6.9% | | Unclassified | 2 | 4.8% | | Materials | 2 | 3.3% |
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 |
|---|
| Industrials | 19.3% | 14.5% | 15.8% | 20.8% | 25.5% | 28.8% | 40.0% | 49.0% | | Consumer Discretionary | 17.1% | 19.7% | 18.5% | 16.1% | 13.4% | 15.6% | 17.7% | 13.1% | | Health Care | 12.6% | 10.4% | 6.7% | 9.8% | 9.7% | 11.2% | 12.8% | 12.2% | | Information Technology | 38.5% | 35.6% | 40.6% | 32.9% | 31.0% | 26.0% | 14.6% | 11.3% | | Financials | 3.1% | 4.8% | 4.5% | 4.8% | 5.6% | 5.8% | 6.9% | 6.2% | | Unclassified | 1.7% | 4.2% | 3.2% | 5.2% | 6.2% | 2.0% | 1.6% | 4.5% | | Materials | 1.3% | 3.5% | 4.1% | 3.2% | 1.9% | 2.6% | 0.0% | 2.8% | | Real Estate | 6.4% | 7.3% | 6.7% | 6.4% | 6.2% | 7.0% | 5.3% | 0.9% | | Energy | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Consumer Staples | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Communication Services | 0.0% | 0.0% | 0.0% | 0.8% | 0.5% | 1.0% | 1.0% | 0.0% | | Top-10 concentration | 49.1% | 48.0% | 47.6% | 43.6% | 46.1% | 44.3% | 55.1% | 58.6% |
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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