Garden Investment Management, L.P.

Fundamental diversified ★Signal industrials specialist (77%) CIK 2044217
Long book
$585.6M
Q1 2026
Positions
2
Top-10 weight
100%
concentration
Last quarter
+33.4%
SPY +14.8%
Turnover
50%
of book per quarter

Strategy in plain words

auto-generated from filings

Garden Investment Management, L.P. is a diversified fundamental manager, specialised in industrials (77% of the long book), running a $585.6M US long book across 2 positions.

The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: MIDDLEBY CORP, FORTUNE BRANDS INNOVATIONS I.

Over the last 6 quarters its long book ran on average 1pp per quarter ahead of the S&P 500, beating the index in 3 of 6 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
+12.2%
Q1 2025
-5.3%
Q2 2025
-7.7%
Q3 2025
+11.8%
Q4 2025
-10.8%
Q1 2026
+33.4%

Sector allocation

Industrials
77%
Other
23%

Long book by quarter

$102.0M
Q4 2024
$400.6M
Q1 2025
$471.9M
Q2 2025
$435.6M
Q3 2025
$502.5M
Q4 2025
$585.6M
Q1 2026

What does Garden Investment own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
MIDD MIDDLEBY CORPIndustrials3.4M$448.1M76.5%Held
FBIN FORTUNE BRANDS INNOVATIONS IOther3.5M$137.5M23.5%New

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 15, 20262$585.6M canonicalSEC ↗
Q4 202513F-HRFeb 17, 20261$502.5M canonicalSEC ↗
Q3 202513F-HRNov 14, 20251$435.6M canonicalSEC ↗
Q2 202513F-HRAug 14, 20251$471.9M canonicalSEC ↗
Q1 202513F-HRMay 15, 20251$400.6M canonicalSEC ↗
Q4 202413F-HRFeb 14, 20251$102.0M canonicalSEC ↗