Decagon Asset Management LLP
Long book
$384.9M
Q1 2026
Positions
74
Top-10 weight
68%
concentration
Last quarter
+3.8%
SPY +14.8%
Turnover
70%
of book per quarter
Strategy in plain words
auto-generated from filingsDecagon Asset Management LLP is a concentrated fundamental stock-picker, running a $384.9M US long book across 74 positions.
The portfolio is concentrated: the top 10 names carry 68% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: NORFOLK SOUTHERN CORP, PENUMBRA INC, ELECTRONIC ARTS INC, LEARWATER ANALYTICS HLDGS I, HOLOGIC INC.
Over the last 6 quarters its long book ran on average 3.6pp per quarter behind the S&P 500, beating the index in 2 of 6 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
Q4 2024
+5.9%
Q1 2025
-1.2%
Q2 2025
+0.4%
Q3 2025
+1.3%
Q4 2025
-4.2%
Q1 2026
+3.8%
Sector allocation
Financials 33%
Industrials 26%
Healthcare 19%
Other 12%
Technology 10%
Long book by quarter
What does Decagon Asset own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NSC NORFOLK SOUTHERN CORP | Industrials | 216.0K | $62.0M | 16.1% | +86.2% |
| PEN PENUMBRA INC | Healthcare | 167.6K | $55.0M | 14.3% | New |
| EA ELECTRONIC ARTS INC | Technology | 133.6K | $27.2M | 7.1% | New |
| HO1 HOLOGIC INC | — | 275.0K | $20.8M | 5.4% | -44.8% |
| CLBR COLOMBIER ACQ III-CL A | Financials | 1.5M | $15.0M | 3.9% | New |
| MBC MASTERBRAND INC | Other | 1.5M | $12.9M | 3.3% | +102.8% |
| GTLS CHART INDUSTRIES INC | Industrials | 52.9K | $10.9M | 2.8% | New |
| OACC OAKTREE ACQUISITION CORP I-A | Financials | 1.0M | $10.6M | 2.8% | +48.4% |
| NWAX NEW AMERICA ACQUISITION-CL A | Financials | 886.0K | $8.9M | 2.3% | New |
| MEVO M EVO GLOBAL ACQUISITIO-CL A | Financials | 898.4K | $8.8M | 2.3% | New |
| HLXC HELIX ACQUISITION CORP-CL A | Financials | 798.9K | $8.1M | 2.1% | New |
| GIX GIGCAPITAL9 CORP-CL A | Financials | 758.4K | $7.5M | 1.9% | New |
| BCSS BAIN CAPITAL GSS INV- A | Financials | 656.9K | $6.6M | 1.7% | +16.2% |
| KBON KARBON CAPITAL PARTNERS-CL A | Financials | 653.8K | $6.6M | 1.7% | New |
| KCHV KOCHAV DEFENSE ACQUISITION-A | Financials | 598.7K | $6.1M | 1.6% | +24.5% |
| BEBE TGE VALUE CREATIVE SOLU-CL A | Financials | 461.5K | $4.6M | 1.2% | New |
| XFLH XFLH CAPITAL CORP | Financials | 424.5K | $4.2M | 1.1% | New |
| NBRG NEWBRIDGE ACQUISITION LTD-A | Financials | 350.0K | $3.5M | 0.9% | New |
| PTOR PRAETORIAN ACQUISITION COR-A | Financials | 233.0K | $2.3M | 0.6% | New |
| RFAM RF ACQUISITION CORP III | Financials | 100.8K | $987K | 0.3% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 77 | $386.2M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 57 | $260.1M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 59 | $198.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 56 | $153.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 44 | $139.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR/ARESTATEMENT | Feb 14, 2025 | 45 | $219.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 11, 2025 | 43 | $219.3M | SEC ↗ |
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