Fort Baker Capital Management LP
Long book
$973.9M
Q1 2026
Positions
99
Top-10 weight
55%
concentration
Last quarter
+3.2%
SPY +14.8%
Turnover
66%
of book per quarter
Strategy in plain words
auto-generated from filingsFort Baker Capital Management LP is a concentrated fundamental stock-picker, running a $973.9M US long book across 99 positions.
The portfolio is concentrated: the top 10 names carry 55% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: WARNER BROS DISCOVERY INC, ELECTRONIC ARTS INC, AES CORP, MASIMO CORP, NORFOLK SOUTHERN CORP.
Over the last 9 quarters its long book ran on average 2.8pp per quarter behind the S&P 500, beating the index in 3 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
-10.1%
Q2 2024
+21.4%
Q3 2024
-2.6%
Q4 2024
+0.5%
Q1 2025
-0.3%
Q2 2025
+6.7%
Q3 2025
-4.6%
Q4 2025
+0.8%
Q1 2026
+3.2%
Sector allocation
Financials 34%
Communications 17%
Other 16%
Technology 15%
Utilities 10%
Industrials 7%
Energy 1%
Services media 0%
Long book by quarter
What does Fort Baker own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| WBD WARNER BROS DISCOVERY INC | Communications | 4.0M | $110.4M | 11.3% | +203.0% |
| EA ELECTRONIC ARTS INC | Technology | 395.2K | $80.6M | 8.3% | +241.5% |
| AES AES CORP | Utilities | 4.4M | $62.3M | 6.4% | New |
| MASI* MASIMO CORP | — | 312.7K | $55.6M | 5.7% | New |
| NSC NORFOLK SOUTHERN CORP | Industrials | 174.6K | $50.1M | 5.1% | New |
| 430 TERNS PHARMACEUTICALS INC | — | 822.0K | $43.3M | 4.4% | New |
| LBRDK LIBERTY BROADBAND-C | Communications | 837.2K | $42.1M | 4.3% | +221.7% |
| BCSS BAIN CAPITAL GSS INV- A | Financials | 4.0M | $40.3M | 4.1% | +43.2% |
| FAC FACTORIAL ENERGY INC | Technology | 2.7M | $27.7M | 2.8% | +6.9% |
| CCXI CHURCHILL CAPITAL CORP-CL A | Financials | 2.5M | $25.6M | 2.6% | New |
| GTEN GORES HOLDINGS X INC-CL A | Financials | 2.3M | $23.7M | 2.4% | +62.7% |
| ANSC AGRICULTURE & NATURAL SOLUTI | Financials | 1.9M | $21.2M | 2.2% | Held |
| NWE NORTHWESTERN ENERGY GROUP IN | Utilities | 313.0K | $20.6M | 2.1% | New |
| FL3 REAL ASSET ACQUISITION | — | 1.7M | $18.1M | 1.9% | New |
| CCII COHEN CIRCLE ACQUISIT II - A | Financials | 1.7M | $16.9M | 1.7% | +369.9% |
| K4F ONESTREAM INC | — | 689.6K | $16.6M | 1.7% | New |
| PMTR PERIMETER ACQUIS CORP I CL A | Financials | 1.6M | $16.1M | 1.7% | +96.7% |
| GRAF GRAF GLOBAL CORP-CL A | Financials | 1.5M | $16.0M | 1.6% | +81.1% |
| DRDB ROMAN DBDR ACQUISITION CORP | Financials | 1.5M | $16.0M | 1.6% | Held |
| CCIX CHURCHILL CAPITAL CORP IX | Technology | 1.5M | $15.5M | 1.6% | -48.6% |
| KBON KARBON CAPITAL PARTNERS-CL A | Financials | 1.5M | $15.1M | 1.5% | New |
| BBCQ BLEICHROEDER ACQUIS II-CL A | Financials | 1.3M | $12.6M | 1.3% | New |
| GSHR GESHER ACQUISITION CORP II-A | Financials | 1.1M | $11.3M | 1.2% | Held |
| SLAB SILICON LABORATORIES INC | Technology | 54.0K | $11.2M | 1.2% | New |
| SVAC SPRING VALLEY ACQUISITION-A | Utilities | 1.1M | $11.2M | 1.1% | +15.9% |
| OACC OAKTREE ACQUISITION CORP I-A | Financials | 1.0M | $10.6M | 1.1% | New |
| EGHA EGH ACQUISITION CO-A | Financials | 931.8K | $9.5M | 1.0% | New |
| BCO BRINK'S CO/THE | Industrials | 86.2K | $8.9M | 0.9% | New |
| DSAC DAEDALUS SPECIAL ACQUIS-CL A | Financials | 890.0K | $8.8M | 0.9% | New |
| FTW PRESIDIO PRODUCTION CO-A | Energy | 779.6K | $8.6M | 0.9% | New |
| DYOR INSIGHT DIGITAL PARTNERS I-A | Financials | 769.1K | $7.7M | 0.8% | +11.2% |
| NY4B CLEARWAY ENERGY INC-A | — | 187.0K | $7.3M | 0.8% | New |
| OIM ONEIM ACQUISITION CL-A | Financials | 703.0K | $7.0M | 0.7% | New |
| VHCP VINE HILL CAPITAL INVES-CL A | Financials | 600.0K | $5.9M | 0.6% | New |
| XCBE X3 ACQUISITION CORP LTD-CL A | Financials | 600.0K | $5.9M | 0.6% | New |
| BIII BLACK SPADE ACQUISITION-CL A | Financials | 500.0K | $4.9M | 0.5% | New |
| ALDF ALDEL FINANCIAL II INC | Financials | 454.2K | $4.8M | 0.5% | Held |
| RAC RITHM ACQUISITION CORP-A | Financials | 450.4K | $4.7M | 0.5% | +79.9% |
| EVOX EVOLUTION GLOBAL ACQUIS-CL A | Financials | 433.2K | $4.3M | 0.4% | +44.4% |
| SAAQ SPACE ASSET ACQUISITION-CL A | Financials | 351.2K | $3.5M | 0.4% | New |
| EVAC EQV VENTURES ACQUISITION C-A | Financials | 328.0K | $3.3M | 0.3% | +9.3% |
| MSGS MADISON SQUARE GARDEN SPORTS | Services media | 10.0K | $3.2M | 0.3% | New |
| PCAP PROCAP ACQUISITION CORP - A | Financials | 303.8K | $3.1M | 0.3% | Held |
| HYAC HAYMAKER ACQUISITION CORP 4 | — | 250.0K | $2.9M | 0.3% | -89.3% |
| AACB ARTIUS II ACQUISITION INC-A | Financials | 232.7K | $2.4M | 0.2% | +12.0% |
| UTE0 CANTALOUPE INC | — | 202.9K | $2.2M | 0.2% | New |
| SVIV SPRING VALLEY ACQUISITIO-A | Financials | 200.0K | $2.0M | 0.2% | New |
| IEAG INFINITE EAGLE CL-A | Financials | 133.1K | $1.3M | 0.1% | New |
| GETY GETTY IMAGES HOLDINGS INC | Services media | 1.4M | $1.1M | 0.1% | New |
| FIG FIGMA INC-CL A | Technology | 40.0K | $846K | 0.1% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 121 | $1.27B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 115 | $916.0M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 90 | $632.0M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 72 | $581.7M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 56 | $484.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 66 | $621.0M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 75 | $607.1M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 78 | $903.6M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 74 | $734.5M | canonical | SEC ↗ |
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