FIFTHDELTA Ltd
Long book
$724.8M
Q1 2026
Positions
11
Top-10 weight
96%
concentration
Last quarter
+43.4%
SPY +14.8%
Turnover
60%
of book per quarter
Strategy in plain words
auto-generated from filingsFIFTHDELTA Ltd is a concentrated fundamental stock-picker, running a $724.8M US long book across 11 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: AXALTA COATING SYSTEMS LTD, TE CONNECTIVITY PLC, BLACKBERRY LTD, TAIWAN SEMICONDUCTOR-SP ADR, OTIS WORLDWIDE CORP.
Over the last 9 quarters its long book ran on average 2.2pp 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
-7.6%
Q2 2024
+5.3%
Q3 2024
+3.9%
Q4 2024
-7.4%
Q1 2025
+11.1%
Q2 2025
+13.4%
Q3 2025
+2.0%
Q4 2025
-3.9%
Q1 2026
+43.4%
Sector allocation
Industrials 35%
Technology 26%
Other 17%
Consumer discretionary 16%
Services media 6%
Long book by quarter
What does FIFTHDELTA Ltd own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AXTA AXALTA COATING SYSTEMS LTD | Other | 4.0M | $111.0M | 15.3% | +41.6% |
| TEL TE CONNECTIVITY PLC | Consumer discretionary | 512.9K | $107.2M | 14.8% | New |
| BB BLACKBERRY LTD | Technology | 26.4M | $85.7M | 11.8% | +50.3% |
| OTIS OTIS WORLDWIDE CORP | Industrials | 927.2K | $71.5M | 9.9% | +21.8% |
| NXPI NXP SEMICONDUCTORS NV | Technology | 294.3K | $57.9M | 8.0% | +19.4% |
| VC VISTEON CORP | Industrials | 614.3K | $56.0M | 7.7% | New |
| ALSN ALLISON TRANSMISSION HOLDING | Industrials | 462.9K | $54.2M | 7.5% | -21.9% |
| HOG HARLEY-DAVIDSON INC | Industrials | 2.1M | $43.1M | 5.9% | +376.4% |
| ALLE ALLEGION PLC | Services media | 251.7K | $36.6M | 5.0% | New |
| AMBA AMBARELLA INC | Technology | 546.5K | $28.1M | 3.9% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 11 | $724.8M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 10 | $475.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 5 | $319.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 9 | $310.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 13 | $399.5M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 22 | $282.4M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 10 | $299.7M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 9, 2024 | 13 | $459.2M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 10, 2024 | 11 | $562.4M | canonical | SEC ↗ |
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