HS Management Partners, LLC

Fundamental concentrated ★Highest signal CIK 1455253
League rank
#808
in Fundamental concentrated · #6725 overall
Long book
$285.8M
Q1 2026
Positions
24
Top-10 weight
59%
concentration
Last quarter
+6.9%
SPY +14.8%
Turnover
22%
of book per quarter

Strategy in plain words

auto-generated from filings

HS Management Partners, LLC is a concentrated fundamental stock-picker, running a $285.8M US long book across 24 positions.

The portfolio is concentrated: the top 10 names carry 59% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: ALPHABET INC-CL C, AMAZON.COM INC, NETFLIX INC, DICK'S SPORTING GOODS INC, META PLATFORMS INC-CLASS A.

Over the last 9 quarters its long book ran on average 3pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.

Implied long-book return vs S&P 500

methodology: positions priced quarterly, no shorts/options
Fund long book S&P 500
Q1 2024
-3.9%
Q2 2024
+6.5%
Q3 2024
+5.4%
Q4 2024
-5.6%
Q1 2025
+9.7%
Q2 2025
+1.5%
Q3 2025
+1.5%
Q4 2025
-8.5%
Q1 2026
+6.9%

Sector allocation

Consumer discretionary
31%
Services media
26%
Technology
19%
Other
9%
Industrials
5%
Consumer staples
4%
Financials
4%
Communications
2%

Long book by quarter

$2.18B
Q1 2024
$1.81B
Q2 2024
$1.55B
Q3 2024
$1.46B
Q4 2024
$1.24B
Q1 2025
$1.23B
Q2 2025
$769.6M
Q3 2025
$468.5M
Q4 2025
$285.8M
Q1 2026

What does HS Management own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
GOOG ALPHABET INC-CL CTechnology72.0K$20.7M7.2%-30.6%
AMZN AMAZON.COM INCConsumer discretionary97.7K$20.4M7.1%-24.5%
NFLX NETFLIX INCServices media203.3K$19.5M6.8%-15.5%
DKS DICK'S SPORTING GOODS INCConsumer discretionary87.7K$17.4M6.1%-30.6%
META META PLATFORMS INC-CLASS ATechnology29.4K$16.8M5.9%-26.7%
MSFT MICROSOFT CORPTechnology44.4K$16.5M5.8%-18.2%
DIS WALT DISNEY CO/THEServices media164.8K$15.9M5.6%-35.1%
UBER UBER TECHNOLOGIES INCServices media219.5K$15.8M5.5%-20.5%
BKNG BOOKING HOLDINGS INCIndustrials3.1K$12.9M4.5%-26.1%
NKE NIKE INC -CL BOther225.6K$11.9M4.2%-31.2%
KO COCA-COLA CO/THEConsumer staples149.5K$11.4M4.0%-50.9%
MCD MCDONALD'S CORPConsumer discretionary35.7K$11.1M3.9%-56.4%
DPZ DOMINO'S PIZZA INCConsumer discretionary30.3K$10.9M3.8%-8.7%
AXP AMERICAN EXPRESS COFinancials34.1K$10.3M3.6%New
GAP GAP INC/THEConsumer discretionary407.9K$9.9M3.5%-54.2%
WSM WILLIAMS-SONOMA INCConsumer discretionary53.1K$9.7M3.4%-34.9%
V VISA INC-CLASS A SHARESServices media31.6K$9.5M3.3%-13.0%
RL RALPH LAUREN CORPOther25.6K$8.8M3.1%-35.7%
CART MAPLEBEAR INCServices media185.6K$7.0M2.4%-45.1%
ABNB AIRBNB INC-CLASS AServices media54.6K$6.9M2.4%-43.8%
SBUX STARBUCKS CORPConsumer discretionary75.6K$6.8M2.4%-58.4%
SPOT SPOTIFY TECHNOLOGY SACommunications13.3K$6.5M2.3%New
KMB KIMBERLY-CLARK CORPOther66.0K$6.4M2.2%New
HD HOME DEPOT INCConsumer discretionary9.3K$3.1M1.1%-71.9%

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRApr 27, 202624$285.8M canonicalSEC ↗
Q4 202513F-HRFeb 9, 202624$468.5M canonicalSEC ↗
Q3 202513F-HROct 23, 202525$769.6M canonicalSEC ↗
Q2 202513F-HR/ARESTATEMENTJul 22, 202525$1.23B canonicalSEC ↗
Q2 202513F-HRJul 16, 202525$1.23B SEC ↗
Q1 202513F-HRMay 5, 202523$1.24B canonicalSEC ↗
Q4 202413F-HRFeb 6, 202523$1.46B canonicalSEC ↗
Q3 202413F-HROct 29, 202423$1.55B canonicalSEC ↗
Q2 202413F-HRAug 14, 202422$1.81B canonicalSEC ↗
Q1 202413F-HRApr 16, 202423$2.18B canonicalSEC ↗

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