13F filer · reported 2026-Q2 · filed 2026-08-14 · Δ vs 2026-Q1 · US-listed long positions only 13F portfolio $1.9B · Positions 10 · Top 10 100.0% · Effective N 7.1 Filer13F 2026-Q2 | CIK1998597 | Reported quarter2026-Q2 | | Prior quarter2026-Q1 | Filed2026-08-14 | | Reported value$1.9B | Positions10 | | Regulatory AUM (ADV)$2.3B | Employees (ADV)19 | | Head office (ADV)NEW YORK, NY, United States | Structure (ADV)Limited Partnership |
Authorized signatory: Jennifer Fanjiang · Partner, Chief Legal Officer and 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. Owners & officers (ADV Schedule A): OSTFELD, SCOTT, DAVID (MANAGING PARTNER | LIMITED PARTNER) · ROSENSTEIN, BARRY, STUART (FOUNDER & EXECUTIVE CHAIRMAN | LIMITED PARTNER) · FANJIANG, JENNIFER (PARTNER, CHIEF LEGAL OFFICER & CHIEF COMPLIANCE OFFICER | LIMITED PARTNER) · GALLIGAN, KEVIN, GARVEY (PARTNER | LIMITED PARTNER) · HUNTER, RYAN, MATTHEW (CHIEF FINANCIAL OFFICER) · YOUNG, JAY, HYUN (CHIEF OPERATING OFFICER) · CANNAE HOLDINGS, LLC (SPECIAL LIMITED PARTNER) · JANA PARTNERS MANAGEMENT GP, LLC (GENERAL PARTNER) Reported 2026-Q2 · filed 2026-08-14 · ADV 2026-05-29ⓘ Implied return1.14y vs SPY | Cumulative+11.4% | CAGR+9.9% | | vs SPY−11.9pp | Vol (ann.)31.4% | | Sharpe0.46 | Max drawdown−21.5% | | Beta1.05 | Avg coverage94% | | Quarters replayed4 | |
2025-06-30 → 2026-08-21 · HYPOTHETICAL replication, not actual returnsⓘ Contribution10 of 13 names | Ticker | Avg wt | Return | Contrib. |
|---|
| MRCY | 21.6% | +36.7% | +7.22pp | | RPD | 4.8% | −42.9% | −3.50pp | | FISV | 7.4% | −62.4% | −2.64pp | | SPY | 14.4% | +20.0% | +2.62pp | | P | 0.6% | +86.1% | +1.56pp | | FUN | 3.9% | −35.8% | −1.13pp | | ALKT | 4.5% | −19.4% | −0.77pp | | TRMB · exited | 3.5% | −27.0% | −0.50pp | | COO | 12.3% | +1.3% | +0.42pp | | MKL | 11.2% | −9.9% | −0.40pp |
Carino-linked; contributions sum to the book return — modeled, not actual results. 2025-08-24 → 2026-08-24 · book +2.4% · SPY +20.0% · largest absolute contributors first · HYPOTHETICALⓘ Top holdings10 of 10 · 100.0% of book | Holding | Weight | Value | Δ shares |
|---|
| MRCY | 25.5% | $484M | −3.6% | | COO | 13.5% | $257M | +0.5% | | SPY | 13.5% | $256M | −0.2% | | LW | 12.2% | $233M | +7.7% | | FISV | 9.4% | $180M | −17.4% | | MKL | 7.9% | $150M | +1.9% | | ALKT | 6.4% | $122M | +24.2% | | FUN | 4.6% | $88M | +0.0% | | P | 4.1% | $78M | new | | RPD | 2.9% | $55M | +0.1% |
Weights as filed for 2026-Q2 · Δ vs 2026-Q1ⓘ Sector split6 sectors | Sector | N | Weight |
|---|
| Information Technology | 4 | 38.9% | | Financials | 2 | 17.3% | | Health Care | 1 | 13.5% | | Unclassified | 1 | 13.5% | | Consumer Staples | 1 | 12.2% | | Communication Services | 1 | 4.6% |
SIC-derived, not GICS · 87% of weight classifiedⓘ Sector history8 of 11 quarters | Sector | 2024-Q2 | 2024-Q3 | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Information Technology | 43.0% | 43.1% | 40.1% | 34.4% | 38.7% | 37.9% | 30.1% | 26.3% | | Financials | 13.9% | 7.5% | 11.9% | 17.0% | 15.2% | 13.6% | 16.9% | 24.4% | | Health Care | 2.9% | 0.8% | 0.0% | 0.0% | 0.0% | 8.1% | 15.0% | 15.9% | | Unclassified | 40.2% | 35.8% | 23.0% | 23.4% | 22.6% | 19.0% | 22.0% | 15.8% | | Consumer Staples | 0.0% | 12.8% | 24.9% | 25.1% | 22.3% | 16.9% | 12.7% | 13.2% | | Communication Services | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 4.5% | 3.3% | 4.5% | | Industrials | 0.0% | 0.0% | 0.0% | 0.0% | 1.2% | 0.0% | 0.0% | 0.0% | | Top-10 concentration | 98.0% | 99.2% | 100.0% | 100.0% | 100.0% | 96.9% | 97.2% | 100.0% |
SIC-derived, not GICS · 84% 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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