Fivespan Partners, LP

Fundamental diversified ★Signal CIK 2040262
Long book
$377.4M
Q1 2026
Positions
4
Top-10 weight
100%
concentration
Last quarter
-0.5%
SPY +14.8%
Turnover
57%
of book per quarter

Strategy in plain words

auto-generated from filings

Fivespan Partners, LP is a diversified fundamental manager, running a $377.4M US long book across 4 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: BLACKLINE INC, QIAGEN N.V., APPIAN CORP-A, OUTFRONT MEDIA INC.

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 2025
-7.4%
Q1 2026
-0.5%

Sector allocation

Technology
65%
Healthcare
35%

Long book by quarter

$364.9M
Q4 2025
$377.4M
Q1 2026

What does Fivespan Partners, own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
BL BLACKLINE INCTechnology3.0M$111.5M29.6%+225.5%
QGEN QIAGEN N.V.Healthcare2.7M$107.7M28.5%New
APPN APPIAN CORP-ATechnology3.5M$84.6M22.4%+155.3%

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 14, 20264$377.4M canonicalSEC ↗
Q4 202513F-HRFeb 13, 20266$364.9M canonicalSEC ↗

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