Elemental Capital Partners LLC
Long book
$234.9M
Q1 2026
Positions
12
Top-10 weight
100%
concentration
Last quarter
+88.2%
SPY +14.8%
Turnover
62%
of book per quarter
Strategy in plain words
auto-generated from filingsElemental Capital Partners LLC is a diversified fundamental manager, specialised in industrials (69% of the long book), running a $234.9M US long book across 12 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: BLOOM ENERGY CORP- A, INDIE SEMICONDUCTOR INC-A, CREDO TECHNOLOGY GROUP HOLDI, LAM RESEARCH CORP, NVIDIA CORP.
Over the last 4 quarters its long book ran on average 19.4pp per quarter ahead of the S&P 500, beating the index in 2 of 4 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
-28.4%
Q3 2025
+0.2%
Q4 2025
+26.4%
Q1 2026
+88.2%
Sector allocation
Industrials 69%
Technology 29%
Utilities 1%
Other 0%
Consumer staples 0%
Communications 0%
Healthcare 0%
Energy 0%
Long book by quarter
What does Elemental Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BE BLOOM ENERGY CORP- A | Industrials | 1.1M | $150.0M | 63.9% | -5.6% |
| INDI INDIE SEMICONDUCTOR INC-A | Technology | 12.6M | $40.7M | 17.3% | +60.0% |
| CRDO CREDO TECHNOLOGY GROUP HOLDI | Technology | 233.6K | $21.9M | 9.3% | +21.5% |
| LRCX LAM RESEARCH CORP | Industrials | 57.5K | $12.3M | 5.2% | +12.1% |
| NVDA NVIDIA CORP | Technology | 26.3K | $4.6M | 2.0% | +2.9% |
| AEP AMERICAN ELECTRIC POWER | Utilities | 8.6K | $1.1M | 0.5% | New |
| ARCC ARES CAPITAL CORP | — | 53.6K | $967K | 0.4% | New |
| ET ENERGY TRANSFER LP | Utilities | 48.4K | $935K | 0.4% | New |
| KHC KRAFT HEINZ CO/THE | Consumer staples | 37.6K | $845K | 0.4% | New |
| VZ VERIZON COMMUNICATIONS INC | Communications | 11.4K | $571K | 0.2% | New |
| PFE PFIZER INC | Healthcare | 20.3K | $570K | 0.2% | New |
| PAA PLAINS ALL AMER PIPELINE LP | Energy | 12.8K | $285K | 0.1% | New |