13F filer · reported 2026-Q1 · filed 2026-05-15 · Δ vs 2025-Q4 · US-listed long positions only 13F portfolio $14.0B · Positions 27 · Top 10 71.6% · Effective N 15.8 Filer13F 2026-Q1 | CIK1517857 | Reported quarter2026-Q1 | | Prior quarter2025-Q4 | Filed2026-05-15 | | Reported value$14.0B | Positions27 | | Regulatory AUM (ADV)$15.7B | Employees (ADV)39 | | Head office (ADV)NEW YORK, NY, United States | Structure (ADV)Limited Partnership |
Authorized signatory: Steven Niditch · General Counsel — 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): FRIEDMAN, SCOTT, JASON (LIMITED PARTNER, HEAD OF TRADING & RISK MANAGEMENT) · HOLMBORG, JANI, AKE (CHIEF COMPLIANCE OFFICER) · JOHNSON, STEVEN, THOMAS (HEAD OF INVESTOR RELATIONS) · NIDITCH, STEVEN, MATTHEW (GENERAL COUNSEL) · TANZI, VITO (COO & CFO) · EWM1 LLC (LIMITED PARTNER) · SOROBAN CAPITAL PARTNERS GP LLC (GENERAL PARTNER) Reported 2026-Q1 · filed 2026-05-15 · ADV 2026-03-27ⓘ Implied return1.14y vs SPY | Cumulative+22.8% | CAGR+19.7% | | vs SPY−2.1pp | Vol (ann.)14.0% | | Sharpe1.37 | Max drawdown−11.5% | | Beta0.93 | Avg coverage100% | | Quarters replayed3 | |
2025-06-30 → 2026-08-21 · HYPOTHETICAL replication, not actual returnsⓘ Contribution10 of 37 names | Ticker | Avg wt | Return | Contrib. |
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| WDC | 1.6% | +498.5% | +3.85pp | | GOOG | 5.8% | +65.8% | +3.61pp | | STX | 1.3% | +438.3% | +3.41pp | | TSM | 4.7% | +81.5% | +3.09pp | | AMZN | 11.6% | +13.0% | +2.27pp | | META | 5.4% | −26.9% | −1.73pp | | MSFT | 13.6% | −4.1% | −1.59pp | | GOOGL | 1.7% | +67.8% | +1.27pp | | TDG | 6.2% | −8.9% | −0.71pp | | ETR | 2.0% | +19.3% | +0.57pp |
Carino-linked; contributions sum to the book return — modeled, not actual results. 2025-08-24 → 2026-08-24 · book +15.5% · SPY +20.0% · largest absolute contributors first · HYPOTHETICALⓘ Top holdings12 of 27 · 80.0% of book | Holding | Weight | Value | Δ shares |
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| AMZN | 12.5% | $1.7B | +41.2% | | MSFT | 9.5% | $1.3B | −7.8% | | MA | 8.8% | $1.2B | +30.5% | | TDG | 7.1% | $992M | +14.5% | | DPZ | 6.4% | $895M | new | | V | 6.4% | $895M | +19.2% | | META | 5.7% | $801M | +19.4% | | EFX | 5.4% | $754M | +310.5% | | SPGI | 5.1% | $718M | +260.3% | | TSM | 4.7% | $653M | −26.9% | | GOOG | 4.4% | $611M | −40.4% | | FERG | 4.0% | $559M | −19.5% |
Weights as filed for 2026-Q1 · Δ vs 2025-Q4ⓘ Sector split7 sectors | Sector | N | Weight |
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| Financials | 3 | 20.3% | | Information Technology | 5 | 19.1% | | Consumer Discretionary | 3 | 19.0% | | Industrials | 3 | 16.5% | | Utilities | 9 | 13.1% | | Communication Services | 3 | 11.2% | | Real Estate | 1 | 0.8% |
SIC-derived, not GICS · 100% of weight classifiedⓘ Sector history8 of 52 quarters | Sector | 2024-Q2 | 2024-Q3 | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
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| Financials | 10.0% | 14.8% | 15.5% | 14.5% | 10.5% | 9.9% | 15.7% | 20.3% | | Information Technology | 22.5% | 23.6% | 23.3% | 25.5% | 29.5% | 23.4% | 22.1% | 19.1% | | Consumer Discretionary | 7.7% | 6.2% | 5.6% | 5.0% | 10.5% | 13.1% | 9.7% | 19.0% | | Industrials | 15.9% | 12.7% | 11.4% | 11.0% | 10.6% | 17.3% | 16.8% | 16.5% | | Utilities | 20.9% | 18.9% | 18.4% | 20.7% | 18.7% | 17.1% | 16.9% | 13.1% | | Communication Services | 15.0% | 15.4% | 17.4% | 12.1% | 12.5% | 14.1% | 14.2% | 11.2% | | Real Estate | 7.4% | 8.2% | 8.4% | 11.1% | 7.7% | 4.5% | 4.7% | 0.8% | | Consumer Staples | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Materials | 0.7% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Energy | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Health Care | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.6% | 0.0% | 0.0% | | Unclassified | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Top-10 concentration | 76.8% | 77.9% | 79.2% | 74.9% | 70.6% | 72.4% | 72.7% | 71.6% |
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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