CLEARFIELD CAPITAL MANAGEMENT LP
Long book
$182.3M
Q1 2026
Positions
16
Top-10 weight
86%
concentration
Last quarter
+33.2%
SPY +14.8%
Turnover
21%
of book per quarter
Strategy in plain words
auto-generated from filingsCLEARFIELD CAPITAL MANAGEMENT LP is a concentrated fundamental stock-picker, running a $182.3M US long book across 16 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: EVERUS CONSTRUCTION GROUP, US FOODS HOLDING CORP, VERTIV HOLDINGS CO-A, UNITED AIRLINES HOLDINGS INC, DELTA AIR LINES INC.
Over the last 9 quarters its long book ran on average 4.1pp per quarter ahead of the S&P 500, beating the index in 6 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
-4.8%
Q2 2024
+20.0%
Q3 2024
-7.9%
Q4 2024
-20.2%
Q1 2025
+36.8%
Q2 2025
+18.3%
Q3 2025
+2.7%
Q4 2025
-0.6%
Q1 2026
+33.2%
Sector allocation
Industrials 31%
Financials 24%
Technology 18%
Utilities 15%
Consumer discretionary 12%
Long book by quarter
What does CLEARFIELD CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ECG EVERUS CONSTRUCTION GROUP | Industrials | 197.7K | $23.3M | 12.8% | Held |
| USFD US FOODS HOLDING CORP | Consumer discretionary | 232.2K | $21.4M | 11.7% | Held |
| VRT VERTIV HOLDINGS CO-A | Technology | 83.4K | $20.9M | 11.5% | Held |
| UAL UNITED AIRLINES HOLDINGS INC | Industrials | 222.7K | $20.5M | 11.2% | -4.8% |
| DAL DELTA AIR LINES INC | Industrials | 197.8K | $13.1M | 7.2% | -4.8% |
| TLN TALEN ENERGY CORP | Utilities | 39.1K | $12.5M | 6.8% | Held |
| APLD APPLIED DIGITAL CORP | Technology | 514.4K | $12.2M | 6.7% | Held |
| CLSK CLEANSPARK INC | Financials | 1.3M | $11.4M | 6.3% | +0.5% |
| RIOT RIOT PLATFORMS INC | Financials | 879.2K | $10.9M | 6.0% | +118.5% |
| BTDR BITDEER TECHNOLOGIES GROUP-A | Financials | 1.2M | $10.5M | 5.8% | New |
| VST VISTRA CORP | Utilities | 48.5K | $7.3M | 4.0% | Held |
| WULF TERAWULF INC | Financials | 500.0K | $7.2M | 4.0% | +347.6% |
| CEG CONSTELLATION ENERGY | Utilities | 25.4K | $7.1M | 3.9% | Held |
| WYFI WHITEFIBER INC | Financials | 185.0K | $2.2M | 1.2% | -85.9% |
| CORZ CORE SCIENTIFIC INC | Financials | 100.0K | $1.5M | 0.8% | +3.0% |
| LESL LESLIE'S INC | Consumer discretionary | 191.4K | $214K | 0.1% | -0.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 17 | $187.9M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 19 | $223.0M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 11 | $167.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 12 | $129.8M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 6 | $76.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 18 | $178.0M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 7, 2024 | 5 | $161.0M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 8 | $111.2M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 10 | $117.9M | canonical | SEC ↗ |
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