13F filer · reported 2026-Q1 · filed 2026-05-15 · Δ vs 2025-Q4 · US-listed long positions only 13F portfolio $3.4B · Positions 7 · Top 10 100.0% · Effective N 5.2 Filer13F 2026-Q1 | CIK1697868 | Reported quarter2026-Q1 | | Prior quarter2025-Q4 | Filed2026-05-15 | | Reported value$3.4B | Positions7 |
Authorized signatory: Devang Kantesaria · Managing Partner — 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-Q1 · filed 2026-05-15ⓘ Implied return1.14y vs SPY | Cumulative−12.9% | CAGR−11.4% | | vs SPY−33.3pp | Vol (ann.)23.6% | | Sharpe−0.40 | Max drawdown−26.0% | | Beta0.47 | Avg coverage100% | | Quarters replayed3 | |
2025-06-30 → 2026-08-21 · HYPOTHETICAL replication, not actual returnsⓘ Contribution9 of 9 names | Ticker | Avg wt | Return | Contrib. |
|---|
| SPGI | 21.2% | −21.9% | −4.83pp | | FICO | 27.1% | −17.2% | −4.49pp | | ASML | 4.4% | +134.9% | +3.74pp | | INTU | 3.3% | −44.2% | −1.54pp | | EFX · exited | 0.5% | −23.7% | −0.25pp | | MA | 20.5% | −2.6% | −0.09pp | | V | 6.6% | +6.7% | +0.08pp | | MSCI · exited | 0.5% | −0.9% | −0.05pp | | MCO | 15.8% | −1.8% | +0.00pp |
Carino-linked; contributions sum to the book return — modeled, not actual results. 2025-08-24 → 2026-08-24 · book −7.4% · SPY +20.0% · largest absolute contributors first · HYPOTHETICALⓘ Top holdings7 of 7 · 100.0% of book | Holding | Weight | Value | Δ shares |
|---|
| FICO | 24.3% | $821M | −0.0% | | SPGI | 22.2% | $748M | −0.0% | | MA | 22.0% | $743M | +0.0% | | MCO | 17.0% | $575M | −0.0% | | ASML | 6.7% | $226M | +35.5% | | V | 5.4% | $181M | −34.7% | | INTU | 2.4% | $82M | −14.5% |
Weights as filed for 2026-Q1 · Δ vs 2025-Q4ⓘ Sector split3 sectors | Sector | N | Weight |
|---|
| Financials | 4 | 66.6% | | Information Technology | 2 | 26.8% | | Industrials | 1 | 6.7% |
SIC-derived, not GICSⓘ Sector history8 of 38 quarters | Sector | 2024-Q2 | 2024-Q3 | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Financials | 55.5% | 55.0% | 57.3% | 60.9% | 61.3% | 64.2% | 63.4% | 66.6% | | Information Technology | 41.3% | 41.1% | 40.0% | 36.4% | 35.6% | 32.0% | 32.8% | 26.8% | | Industrials | 1.7% | 2.3% | 2.7% | 2.7% | 3.0% | 3.8% | 3.8% | 6.7% | | Consumer Staples | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Consumer Discretionary | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Materials | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Communication Services | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Unclassified | 1.5% | 1.6% | 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 · 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
|
