BWCP, LP

Fundamental concentrated ★Signal CIK 1787893
League rank
#265
in Fundamental concentrated · #485 overall
Long book
$655.6M
Q1 2026
Positions
27
Top-10 weight
56%
concentration
Last quarter
+21.4%
SPY +14.8%
Turnover
53%
of book per quarter

Strategy in plain words

auto-generated from filings

BWCP, LP is a concentrated fundamental stock-picker, running a $655.6M US long book across 27 positions.

The portfolio is concentrated: the top 10 names carry 56% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: ZETA GLOBAL HOLDINGS CORP-A, UNITED AIRLINES HOLDINGS INC, BOYD GAMING CORP, MOTOROLA SOLUTIONS INC, META PLATFORMS INC-CLASS A.

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 4 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
+2.6%
Q2 2024
+7.4%
Q3 2024
+3.0%
Q4 2024
-13.9%
Q1 2025
+22.2%
Q2 2025
+7.5%
Q3 2025
+2.7%
Q4 2025
-8.4%
Q1 2026
+21.4%

Sector allocation

Industrials
29%
Technology
28%
Other
11%
Consumer discretionary
10%
Services media
9%
Consumer staples
4%
Healthcare
3%
Financials
3%

Long book by quarter

$390.5M
Q1 2024
$397.8M
Q2 2024
$451.0M
Q3 2024
$464.7M
Q4 2024
$493.4M
Q1 2025
$612.2M
Q2 2025
$577.1M
Q3 2025
$602.9M
Q4 2025
$655.6M
Q1 2026

What does BWCP, LP own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
ZETA ZETA GLOBAL HOLDINGS CORP-ATechnology4.5M$71.8M11.0%+41.6%
UAL UNITED AIRLINES HOLDINGS INCIndustrials452.9K$41.7M6.4%+19.2%
BYD BOYD GAMING CORPServices media464.1K$38.1M5.8%+15.3%
MSI MOTOROLA SOLUTIONS INCTechnology86.5K$37.5M5.7%New
META META PLATFORMS INC-CLASS ATechnology58.5K$33.5M5.1%New
ASML ASML HOLDING NV-NY REG SHSIndustrials24.5K$32.4M4.9%New
AMZN AMAZON.COM INCConsumer discretionary146.4K$30.5M4.7%+24.9%
FIX COMFORT SYSTEMS USA INCIndustrials22.0K$30.4M4.6%-34.5%
SN SHARKNINJA INCIndustrials232.2K$24.6M3.8%+78.1%
AS AMER SPORTS INCOther731.4K$24.1M3.7%New
ONON ON HOLDING AG-CLASS AOther680.7K$23.2M3.5%+24.4%
JHX JAMES HARDIE IND PLCIndustrials1.2M$22.9M3.5%+15.5%
PRMB PRIMO BRANDS CORPConsumer staples1.2M$22.1M3.4%+17.1%
EYE NATIONAL VISION HOLDINGS INCHealthcare793.8K$20.6M3.1%+26.5%
GRND GRINDR INCTechnology1.6M$18.9M2.9%+46.8%
CALY CALLAWAY GOLF COMPANYOther1.4M$18.9M2.9%-9.5%
GPGI GPGI INCFinancials1.1M$18.1M2.8%New
DASH DOORDASH INC - AServices media100.6K$15.1M2.3%+95.0%
LIND LINDBLAD EXPEDITIONS HOLDINGIndustrials865.9K$15.0M2.3%New
GAP GAP INC/THEConsumer discretionary617.7K$14.9M2.3%+181.2%
AXON AXON ENTERPRISE INCIndustrials34.9K$14.8M2.3%-11.8%
FWRG FIRST WATCH RESTAURANT GROUPConsumer discretionary1.4M$14.2M2.2%New
DOCN DIGITALOCEAN HOLDINGS INCTechnology138.4K$11.9M1.8%New
PUMP PROPETRO HOLDING CORPEnergy800.4K$11.5M1.8%New
COMP COMPASS INC - CLASS AReal estate1.3M$9.5M1.5%+93.2%

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 12, 202627$655.6M canonicalSEC ↗
Q4 202513F-HRFeb 13, 202629$602.9M canonicalSEC ↗
Q3 202513F-HRNov 14, 202523$577.1M canonicalSEC ↗
Q2 202513F-HRAug 14, 202527$612.2M canonicalSEC ↗
Q1 202513F-HRMay 15, 202524$493.4M canonicalSEC ↗
Q4 202413F-HRFeb 14, 202525$464.7M canonicalSEC ↗
Q3 202413F-HRNov 14, 202426$451.0M canonicalSEC ↗
Q2 202413F-HRAug 14, 202421$397.8M canonicalSEC ↗
Q1 202413F-HRMay 15, 202421$390.5M canonicalSEC ↗

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