CDAM (UK) Ltd
Long book
$450.9M
Q1 2026
Positions
11
Top-10 weight
97%
concentration
Last quarter
+13.0%
SPY +14.8%
Turnover
17%
of book per quarter
Strategy in plain words
auto-generated from filingsCDAM (UK) Ltd is a concentrated fundamental stock-picker, running a $450.9M US long book across 11 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: CORE & MAIN INC-CLASS A, CRH PLC, COLLIERS INTL GR-SUBORD VOT, VEEVA SYSTEMS INC-CLASS A, SERVICENOW INC.
Over the last 9 quarters its long book ran on average 7.2pp per quarter behind the S&P 500, beating the index in 0 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-9.2%
Q2 2024
+5.3%
Q3 2024
-2.3%
Q4 2024
-19.4%
Q1 2025
+7.2%
Q2 2025
+5.5%
Q3 2025
-8.1%
Q4 2025
-16.4%
Q1 2026
+13.0%
Sector allocation
Industrials 32%
Technology 30%
Consumer discretionary 14%
Real estate 12%
Services media 6%
Communications 5%
Long book by quarter
What does CDAM (UK) own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CNM CORE & MAIN INC-CLASS A | Consumer discretionary | 1.3M | $62.4M | 13.8% | -1.0% |
| CRH CRH PLC | Industrials | 579.5K | $60.9M | 13.5% | +6.1% |
| CIGI COLLIERS INTL GR-SUBORD VOT | Real estate | 492.0K | $52.6M | 11.7% | +16.7% |
| VEEV VEEVA SYSTEMS INC-CLASS A | Technology | 265.3K | $46.6M | 10.3% | +13.9% |
| NOW SERVICENOW INC | Technology | 433.8K | $45.3M | 10.1% | +49.7% |
| TFII TFI INTERNATIONAL INC | Industrials | 394.6K | $42.9M | 9.5% | -1.9% |
| QLYS QUALYS INC | Technology | 469.0K | $41.2M | 9.1% | +21.3% |
| LGIH LGI HOMES INC | Industrials | 900.2K | $35.6M | 7.9% | +21.1% |
| EFX EQUIFAX INC | Services media | 148.5K | $26.7M | 5.9% | New |
| ZD ZIFF DAVIS INC | Communications | 563.7K | $23.7M | 5.2% | -58.3% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 11 | $450.9M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 11 | $549.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 11 | $554.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 11 | $601.3M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 11 | $618.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 10 | $666.4M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 10 | $676.9M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 10 | $669.6M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 11 | $803.9M | canonical | SEC ↗ |
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