GRITSTONE ASSET MANAGEMENT LLC
Long book
$93.6M
Q1 2026
Positions
154
Top-10 weight
31%
concentration
Last quarter
+1.3%
SPY +14.8%
Turnover
44%
of book per quarter
Strategy in plain words
auto-generated from filingsGRITSTONE ASSET MANAGEMENT LLC is a diversified fundamental manager, specialised in financials (93% of the long book), running a $93.6M US long book across 154 positions.
The portfolio is moderately concentrated (top 10 ≈ 31% of the book). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: OAKTREE ACQUISITION CORP I-A, ALDEL FINANCIAL II INC, BOLD EAGLE ACQUISITION COR-A, LIONHEART HOLDINGS - CL A, CENTURION ACQUISITION CORP.
Over the last 6 quarters its long book ran on average 3.5pp per quarter behind the S&P 500, beating the index in 2 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
+2.4%
Q1 2025
+2.7%
Q2 2025
+0.3%
Q3 2025
+1.3%
Q4 2025
-1.1%
Q1 2026
+1.3%
Sector allocation
Financials 92%
Utilities 3%
Industrials 1%
Technology 1%
Consumer discretionary 1%
Communications 1%
Long book by quarter
What does GRITSTONE ASSET own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| OACC OAKTREE ACQUISITION CORP I-A | Financials | 394.9K | $4.2M | 4.5% | Held |
| ALDF ALDEL FINANCIAL II INC | Financials | 394.2K | $4.2M | 4.4% | Held |
| BEAG BOLD EAGLE ACQUISITION COR-A | Financials | 344.5K | $3.6M | 3.9% | Held |
| CUB LIONHEART HOLDINGS - CL A | Financials | 291.0K | $3.1M | 3.3% | Held |
| ALF CENTURION ACQUISITION CORP | Financials | 291.0K | $3.1M | 3.3% | Held |
| RAC RITHM ACQUISITION CORP-A | Financials | 197.6K | $2.1M | 2.2% | Held |
| HVII HENNESSY CAPITAL INVESTMENT | Utilities | 197.9K | $2.0M | 2.2% | Held |
| AACB ARTIUS II ACQUISITION INC-A | Financials | 197.7K | $2.0M | 2.2% | Held |
| NWAX NEW AMERICA ACQUISITION-CL A | Financials | 195.0K | $2.0M | 2.1% | New |
| GRAF GRAF GLOBAL CORP-CL A | Financials | 174.7K | $1.9M | 2.0% | Held |
| LPBB LAUNCH TWO ACQUISITION- CL A | Financials | 146.8K | $1.6M | 1.7% | Held |
| KFII K&F GROWTH ACQUISITION COR-A | Financials | 148.7K | $1.6M | 1.7% | Held |
| TLNC TALON CAPITAL CORP-CL A | Financials | 150.0K | $1.5M | 1.6% | Held |
| LFAC LEAPFROG ACQUISITION CL A | Financials | 150.0K | $1.5M | 1.6% | New |
| SVCC STELLAR V CAPITAL CORP-CL A | Financials | 133.8K | $1.4M | 1.5% | Held |
| NHIC NEWHOLD INVESTMENT COR III-A | Financials | 123.5K | $1.3M | 1.4% | Held |
| HVMC HIGHVIEW MERGER CORP-CL A | Financials | 127.0K | $1.3M | 1.4% | Held |
| SOCA SOLARIUS CAPITAL ACQUIS-CL A | Financials | 125.0K | $1.3M | 1.4% | Held |
| OBA OXLEY BRIDGE ACQUISITIO-CL A | Financials | 124.3K | $1.3M | 1.3% | Held |
| OTGA OTG ACQUISITION CORP I-CL A | Financials | 125.0K | $1.3M | 1.3% | Held |
| ALUB ALUSSA ENERGY ACQUISIT II-A | Financials | 125.0K | $1.2M | 1.3% | New |
| BLRK BLUEROCK ACQUISITION CORP-A | Financials | 125.0K | $1.2M | 1.3% | New |
| LATA GALATA ACQU CORP II - CL A | Financials | 106.3K | $1.1M | 1.1% | Held |
| FACT FACT II ACQUISITION CORP | Industrials | 100.0K | $1.1M | 1.1% | Held |
| ATII ARCHIMEDES TECH SPAC PARTNER | Financials | 99.1K | $1.0M | 1.1% | Held |
| KRSP RICE ACQUISITION CORP 3-A | Financials | 100.0K | $1.0M | 1.1% | Held |
| GSHR GESHER ACQUISITION CORP II-A | Financials | 98.8K | $1.0M | 1.1% | Held |
| SZZL SIZZLE ACQUISITION CORP-CL A | Financials | 99.0K | $1.0M | 1.1% | Held |
| TACH TITAN ACQUISITION CORP-CL A | Financials | 98.8K | $1.0M | 1.1% | Held |
| FAC FACTORIAL ENERGY INC | Technology | 98.9K | $1.0M | 1.1% | Held |
| TACO BERTO ACQUISITION CORP | Financials | 98.9K | $1.0M | 1.1% | Held |
| RDAG REPUBLIC DIGITAL ACQUIS-CL A | Financials | 98.8K | $1.0M | 1.1% | Held |
| JENA JENA ACQUISITION CORP II - A | Financials | 98.9K | $1.0M | 1.1% | Held |
| WENN WEN ACQUISITION CORP-A | Financials | 98.9K | $1.0M | 1.1% | Held |
| EVAC EQV VENTURES ACQUISITION C-A | Financials | 98.9K | $998K | 1.1% | Held |
| DSAC DAEDALUS SPECIAL ACQUIS-CL A | Financials | 100.0K | $991K | 1.1% | New |
| AEAQ ACTIVATE ENERGY ACQUISITIO-A | Financials | 100.0K | $989K | 1.1% | New |
| TMS TEAMSHARES INC | Consumer discretionary | 86.6K | $901K | 1.0% | Held |
| TDAC TRANSLATIONAL DEVELOPMENT AC | Financials | 83.7K | $885K | 0.9% | Held |
| SAC SAFEGUARD ACQUISITION C-CL A | Financials | 75.0K | $747K | 0.8% | New |
| VACI VIKING ACQUISITION CORP - A | Communications | 75.0K | $745K | 0.8% | Held |
| CRAN CRANE HARBOR ACQUISITIO-CL A | Financials | 75.0K | $743K | 0.8% | New |
| GPAC GENERAL PURPOSE ACQUISIT-A | Financials | 75.0K | $743K | 0.8% | New |
| PACH PIONEER ACQUISITION I-CL A | Financials | 69.3K | $702K | 0.7% | Held |
| AEXA AMERICAN EXCEPTIONALISM-CL A | Financials | 50.0K | $542K | 0.6% | Held |
| HCMA HCM III ACQUISITION COR-CL A | Financials | 50.0K | $504K | 0.5% | Held |
| PAII PYROPHYTE ACQUISITION CORP-A | Financials | 49.6K | $503K | 0.5% | Held |
| OYSE OYSTER ENTERPRISES II ACQ-A | Financials | 49.4K | $503K | 0.5% | Held |
| CRAQ CAL REDWOOD ACQUISIT-CL A | Financials | 49.4K | $502K | 0.5% | Held |
| ONCH 1RT ACQUISITION CORP-A | Financials | 49.4K | $501K | 0.5% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 5, 2026 | 154 | $93.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 23, 2026 | 148 | $104.8M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 4, 2025 | 124 | $97.2M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 25, 2025 | 120 | $101.1M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 89 | $95.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | May 15, 2025 | 87 | $94.4M | canonical | SEC ↗ |