13F filer · reported 2026-Q2 · filed 2026-08-14 · Δ vs 2026-Q1 · US-listed long positions only 13F portfolio $4.8B · Positions 19 · Top 10 74.5% · Effective N 15.0 Filer13F 2026-Q2 | CIK1582090 | Reported quarter2026-Q2 | | Prior quarter2026-Q1 | Filed2026-08-14 | | Reported value$4.8B | Positions19 | | Regulatory AUM (ADV)$7.2B | Employees (ADV)17 | | Head office (ADV)NEW YORK, NY, United States | Structure (ADV)Limited Partnership |
Authorized signatory: Michael Adamski · 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. Owners & officers (ADV Schedule A): FERGUSON, SCOTT, DAVID (MANAGING PARTNER AND PORTFOLIO MANAGER) · ADAMSKI, MICHAEL, DAVID (GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER) · GODFREY, MICHELLE, LARYEA (CHIEF FINANCIAL OFFICER) · MALHOTRA, AMIT, NMI (CHIEF OPERATING OFFICER) · UNCAS GP LLC (GENERAL PARTNER) Reported 2026-Q2 · filed 2026-08-14 · ADV 2026-03-17ⓘ Implied return1.14y vs SPY | Cumulative+22.5% | CAGR+19.4% | | vs SPY−2.4pp | Vol (ann.)27.0% | | Sharpe0.80 | Max drawdown−17.0% | | Beta1.49 | Avg coverage98% | | Quarters replayed4 | |
2025-06-30 → 2026-08-21 · HYPOTHETICAL replication, not actual returnsⓘ Contribution10 of 42 names | Ticker | Avg wt | Return | Contrib. |
|---|
| COHR · exited | 5.4% | +222.0% | +11.99pp | | TWLO | 7.8% | +111.8% | +7.28pp | | MKSI | 1.1% | +166.6% | −3.14pp | | STX | 2.1% | +438.3% | +2.25pp | | PRMB | 3.4% | −5.3% | +1.88pp | | GTM · exited | 2.6% | −63.1% | −1.87pp | | ADMA · exited | 2.1% | −44.7% | −1.77pp | | ON · exited | 0.8% | +43.1% | +1.61pp | | FUN | 2.6% | −35.8% | −1.49pp | | STM | 0.5% | +85.7% | −1.25pp |
Carino-linked; contributions sum to the book return — modeled, not actual results. 2025-08-24 → 2026-08-24 · book +15.6% · SPY +20.0% · largest absolute contributors first · HYPOTHETICALⓘ Top holdings12 of 19 · 82.1% of book | Holding | Weight | Value | Δ shares |
|---|
| TLN | 10.9% | $526M | −11.5% | | STX | 9.5% | $455M | new | | PRMB | 9.0% | $435M | +4.1% | | PFGC | 7.8% | $374M | +0.0% | | MKSI | 7.5% | $361M | new | | DKS | 7.0% | $338M | −7.2% | | CVNA | 6.1% | $295M | +466.5% | | SHC | 5.7% | $276M | +33.6% | | CELH | 5.5% | $266M | new | | GDS | 5.4% | $261M | +0.0% | | GIL | 3.9% | $188M | −12.1% | | GLNG | 3.7% | $180M | new |
Weights as filed for 2026-Q2 · Δ vs 2026-Q1ⓘ Sector split9 sectors | Sector | N | Weight |
|---|
| Information Technology | 5 | 28.4% | | Consumer Discretionary | 4 | 24.8% | | Consumer Staples | 2 | 14.5% | | Utilities | 1 | 10.9% | | Health Care | 2 | 9.4% | | Financials | 2 | 4.8% | | Industrials | 1 | 3.7% | | Communication Services | 1 | 2.2% | | Unclassified | 1 | 1.2% |
SIC-derived, not GICS · 99% of weight classifiedⓘ Sector history8 of 50 quarters | Sector | 2024-Q2 | 2024-Q3 | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Consumer Discretionary | 36.6% | 15.6% | 13.5% | 8.3% | 7.6% | 22.3% | 20.2% | 26.1% | | Information Technology | 42.7% | 42.4% | 54.6% | 51.6% | 44.0% | 28.5% | 26.8% | 25.3% | | Utilities | 0.0% | 8.8% | 10.1% | 13.9% | 16.5% | 7.0% | 8.8% | 11.9% | | Communication Services | 1.5% | 0.0% | 3.6% | 4.9% | 4.6% | 5.4% | 24.6% | 10.6% | | Consumer Staples | 2.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 7.8% | | Unclassified | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.6% | 0.7% | 6.5% | | Industrials | 4.5% | 3.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 5.8% | | Health Care | 11.9% | 20.9% | 10.4% | 16.6% | 16.0% | 16.9% | 14.5% | 4.0% | | Financials | 0.0% | 0.0% | 7.9% | 4.7% | 4.6% | 5.3% | 3.0% | 2.0% | | Materials | 0.0% | 8.6% | 0.0% | 0.0% | 6.6% | 14.0% | 1.3% | 0.0% | | Real Estate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Top-10 concentration | 90.2% | 88.1% | 89.3% | 78.0% | 72.0% | 77.2% | 73.5% | 75.4% |
SIC-derived, not GICS · 93% 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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