Engle Capital Management, L.P.

Fundamental concentrated ★Signal CIK 1684868
League rank
#131
in Fundamental concentrated · #202 overall
Long book
$293.5M
Q1 2026
Positions
22
Top-10 weight
74%
concentration
Last quarter
+29.8%
SPY +14.8%
Turnover
42%
of book per quarter

Strategy in plain words

auto-generated from filings

Engle Capital Management, L.P. is a concentrated fundamental stock-picker, running a $293.5M US long book across 22 positions.

The portfolio is concentrated: the top 10 names carry 74% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: TERAWULF INC, LEGENCE CORP-CL A, BBB FOODS INC-CLASS A, CONSTRUCTION PARTNERS INC-A, AERCAP HOLDINGS NV.

Over the last 9 quarters its long book ran on average 2.3pp per quarter ahead of the S&P 500, beating the index in 5 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
+0.8%
Q2 2024
+15.7%
Q3 2024
+10.8%
Q4 2024
-9.9%
Q1 2025
+16.9%
Q2 2025
-2.1%
Q3 2025
-2.1%
Q4 2025
+1.2%
Q1 2026
+29.8%

Sector allocation

Industrials
41%
Financials
27%
Consumer discretionary
10%
Services media
8%
Utilities
7%
Technology
4%
Real estate
3%
Materials
1%

Long book by quarter

$358.7M
Q1 2024
$295.8M
Q2 2024
$340.1M
Q3 2024
$334.2M
Q4 2024
$240.3M
Q1 2025
$331.6M
Q2 2025
$283.5M
Q3 2025
$259.1M
Q4 2025
$293.5M
Q1 2026

What does Engle Capital own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
WULF TERAWULF INCFinancials3.0M$42.6M14.5%+574.3%
LGN LEGENCE CORP-CL AIndustrials510.7K$28.8M9.8%-8.6%
TBBB BBB FOODS INC-CLASS AConsumer discretionary715.0K$25.3M8.6%-4.7%
ROAD CONSTRUCTION PARTNERS INC-AIndustrials205.0K$22.8M7.8%+10.8%
AER AERCAP HOLDINGS NVServices media164.0K$22.5M7.7%+36.7%
TLN TALEN ENERGY CORPUtilities62.5K$20.0M6.8%-18.8%
FLS FLOWSERVE CORPIndustrials250.0K$18.4M6.3%+346.4%
CDNL CARDINAL INFRASTRUCTURE GR-AIndustrials318.0K$12.6M4.3%+142.7%
FIX COMFORT SYSTEMS USA INCIndustrials8.4K$11.6M3.9%+12.0%
STEP STEPSTONE GROUP INC-CLASS AFinancials237.2K$11.3M3.9%+82.5%
STRL STERLING INFRASTRUCTURE INCIndustrials26.5K$10.8M3.7%+156.5%
FPS FORGENT POWER SOLUTIONS-CL AIndustrials362.6K$10.6M3.6%New
CIFR CIPHER DIGITAL INCFinancials777.0K$10.0M3.4%+982.2%
MRX MAREX GROUP PLCFinancials201.0K$9.0M3.1%+5.3%
GOOGL ALPHABET INC-CL ATechnology26.4K$7.6M2.6%+19.8%
HUT HUT 8 CORPFinancials149.8K$7.0M2.4%New
FRMI FERMI INCReal estate1.0M$5.9M2.0%New
CVNA CARVANA COConsumer discretionary12.0K$3.8M1.3%+100.0%
AMRZ AMRIZE LTDIndustrials66.8K$3.7M1.3%New
META META PLATFORMS INC-CLASS ATechnology6.5K$3.7M1.3%-61.7%
CCJ CAMECO CORPMaterials30.8K$3.4M1.1%-33.3%
COMP COMPASS INC - CLASS AReal estate300.0K$2.2M0.7%-71.8%

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 15, 202622$293.5M canonicalSEC ↗
Q4 202513F-HRFeb 17, 202627$259.1M canonicalSEC ↗
Q3 202513F-HRNov 14, 202523$283.5M canonicalSEC ↗
Q2 202513F-HRAug 14, 202525$331.6M canonicalSEC ↗
Q1 202513F-HRMay 15, 202523$276.7M canonicalSEC ↗
Q4 202413F-HRFeb 14, 202524$334.2M canonicalSEC ↗
Q3 202413F-HRNov 14, 202420$340.1M canonicalSEC ↗
Q2 202413F-HRAug 14, 202421$295.8M canonicalSEC ↗
Q1 202413F-HRMay 15, 202428$358.7M canonicalSEC ↗

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