AlpInvest Partners B.V.

Fundamental concentrated ★Signal CIK 1512910
League rank
#696
in Fundamental concentrated · #5959 overall
Long book
$49.7M
Q1 2026
Positions
13
Top-10 weight
97%
concentration
Last quarter
+26.0%
SPY +14.8%
Turnover
8%
of book per quarter

Strategy in plain words

auto-generated from filings

AlpInvest Partners B.V. is a concentrated fundamental stock-picker, running a $49.7M US long book across 13 positions.

The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: N-ABLE INC, ROBINHOOD MARKETS INC - A, CHIME FINANCIAL INC-CL A, CROWDSTRIKE HOLDINGS INC - A, CIRCLE INTERNET GROUP INC.

Over the last 9 quarters its long book ran on average 0.5pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.

Implied long-book return vs S&P 500

methodology: positions priced quarterly, no shorts/options
Fund long book S&P 500
Q1 2024
+3.6%
Q2 2024
+2.2%
Q3 2024
+4.4%
Q4 2024
-3.7%
Q1 2025
+25.2%
Q2 2025
+20.4%
Q3 2025
-5.4%
Q4 2025
-28.1%
Q1 2026
+26.0%

Sector allocation

Financials
48%
Technology
41%
Consumer discretionary
4%
Industrials
4%
Healthcare
3%

Long book by quarter

$256.1M
Q1 2024
$278.8M
Q2 2024
$169.0M
Q3 2024
$95.9M
Q4 2024
$68.2M
Q1 2025
$51.4M
Q2 2025
$39.8M
Q3 2025
$64.2M
Q4 2025
$49.7M
Q1 2026

What does AlpInvest Partners own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
NABL N-ABLE INCTechnology2.4M$11.1M22.4%Held
HOOD ROBINHOOD MARKETS INC - AFinancials134.8K$9.3M18.8%Held
CHYM CHIME FINANCIAL INC-CL AFinancials344.3K$6.4M13.0%Held
CRWD CROWDSTRIKE HOLDINGS INC - ATechnology15.0K$5.9M11.8%Held
CRCL CIRCLE INTERNET GROUP INCFinancials53.6K$5.1M10.3%+9.9%
ETOR ETORO GROUP LTD-AFinancials94.8K$2.8M5.7%+89.0%
TBLA TABOOLA.COM LTDTechnology848.1K$2.6M5.3%+90.1%
DNUT KRISPY KREME INCConsumer discretionary632.0K$2.1M4.3%Held
FWRD FORWARD AIR CORPIndustrials103.3K$1.7M3.5%Held
HTFL HEARTFLOW INCHealthcare37.7K$916K1.8%New
OMDA OMADA HEALTH INCHealthcare53.9K$677K1.4%Held
DDOG DATADOG INC - CLASS ATechnology2.8K$334K0.7%-25.0%

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 8, 202613$49.7M canonicalSEC ↗
Q4 202513F-HRFeb 13, 202612$64.2M canonicalSEC ↗
Q3 202513F-HRNov 7, 20257$39.8M canonicalSEC ↗
Q2 202513F-HRAug 8, 20257$51.4M canonicalSEC ↗
Q1 202513F-HRMay 9, 202510$68.2M canonicalSEC ↗
Q4 202413F-HRFeb 13, 202510$95.9M canonicalSEC ↗
Q3 202413F-HRNov 8, 202414$169.0M canonicalSEC ↗
Q2 202413F-HRAug 9, 202416$278.8M canonicalSEC ↗
Q1 202413F-HRMay 3, 202416$256.1M canonicalSEC ↗