13F filer · reported 2026-Q2 · filed 2026-08-14 · Δ vs 2026-Q1 · US-listed long positions only 13F portfolio $5.6B · Positions 18 · Top 10 86.7% · Effective N 11.3 Filer13F 2026-Q2 | CIK1418814 | Reported quarter2026-Q2 | | Prior quarter2026-Q1 | Filed2026-08-14 | | Reported value$5.6B | Positions18 |
Authorized signatory: Sonia M. Muscatine · Authorized Signatory — 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 return1.14y vs SPY | Cumulative−4.5% | CAGR−4.0% | | vs SPY−25.8pp | Vol (ann.)20.8% | | Sharpe−0.09 | Max drawdown−26.3% | | Beta1.12 | Avg coverage99% | | Quarters replayed4 | |
2025-06-30 → 2026-08-21 · HYPOTHETICAL replication, not actual returnsⓘ Contribution10 of 21 names | Ticker | Avg wt | Return | Contrib. |
|---|
| RBLX | 7.5% | −67.3% | −6.06pp | | RKT | 9.0% | −27.5% | −3.54pp | | META | 9.8% | −26.9% | −2.99pp | | NSIT · exited | 2.4% | +10.1% | −2.79pp | | MDB | 5.4% | +96.7% | +1.72pp | | CRM | 11.5% | −15.1% | −1.53pp | | V | 10.8% | +6.7% | +1.50pp | | AMZN | 12.8% | +13.0% | +1.33pp | | LLYVK | 3.2% | +10.9% | +1.26pp | | DIS · exited | 5.1% | −8.0% | −1.25pp |
Carino-linked; contributions sum to the book return — modeled, not actual results. 2025-08-24 → 2026-08-24 · book −8.0% · SPY +20.0% · largest absolute contributors first · HYPOTHETICALⓘ Top holdings12 of 18 · 92.9% of book | Holding | Weight | Value | Δ shares |
|---|
| V | 14.1% | $795M | +0.0% | | AMZN | 12.4% | $701M | +2.0% | | RKT | 11.6% | $656M | +47.7% | | BLK | 9.9% | $559M | +6.5% | | META | 9.2% | $516M | +0.0% | | CRM | 8.3% | $469M | +0.0% | | TOST | 7.0% | $393M | +9.6% | | KKR | 5.8% | $327M | +8.5% | | SPOT | 4.3% | $242M | +46.9% | | LLYVK | 4.1% | $229M | −39.0% | | SSD | 3.1% | $174M | −40.6% | | RBLX | 3.0% | $171M | −46.2% |
Weights as filed for 2026-Q2 · Δ vs 2026-Q1ⓘ Sector split7 sectors | Sector | N | Weight |
|---|
| Financials | 4 | 41.5% | | Communication Services | 5 | 19.9% | | Information Technology | 4 | 19.3% | | Consumer Discretionary | 1 | 12.4% | | Industrials | 2 | 3.6% | | Real Estate | 1 | 2.4% | | Unclassified | 1 | 0.8% |
SIC-derived, not GICS · 99% 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 |
|---|
| Financials | 8.2% | 2.5% | 2.7% | 12.6% | 11.7% | 17.3% | 30.0% | 33.8% | | Information Technology | 32.0% | 41.9% | 42.5% | 30.0% | 26.1% | 29.9% | 30.6% | 26.0% | | Communication Services | 25.0% | 22.9% | 22.6% | 29.4% | 21.9% | 19.8% | 22.9% | 23.3% | | Consumer Discretionary | 34.8% | 30.3% | 25.3% | 19.7% | 23.1% | 17.3% | 12.6% | 10.5% | | Industrials | 0.0% | 0.0% | 0.0% | 0.0% | 3.9% | 3.4% | 3.4% | 4.2% | | Unclassified | 0.0% | 2.5% | 6.8% | 8.2% | 11.9% | 11.7% | 0.0% | 1.6% | | Real Estate | 0.0% | 0.0% | 0.0% | 0.0% | 1.5% | 0.6% | 0.5% | 0.6% | | 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% | 0.0% | 0.0% | 0.0% | | Materials | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Utilities | 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% | | Top-10 concentration | 100.0% | 100.0% | 97.3% | 95.6% | 88.6% | 88.9% | 86.9% | 80.9% |
SIC-derived, not GICS · 98% 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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