Impactive Capital LP
Long book
$1.38B
Q1 2026
Positions
10
Top-10 weight
100%
concentration
Last quarter
+21.2%
SPY +14.8%
Turnover
50%
of book per quarter
Strategy in plain words
auto-generated from filingsImpactive Capital LP is a concentrated fundamental stock-picker, running a $1.38B US long book across 10 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: MARRIOTT VACATIONS WORLD, WEX INC, ASBURY AUTOMOTIVE GROUP, SLM CORP, ADVANCED DRAINAGE SYSTEMS IN.
Over the last 9 quarters its long book ran on average 3.3pp per quarter behind the S&P 500, beating the index in 3 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
-11.4%
Q2 2024
+8.5%
Q3 2024
-2.8%
Q4 2024
-7.3%
Q1 2025
+4.7%
Q2 2025
+10.0%
Q3 2025
-6.3%
Q4 2025
-6.4%
Q1 2026
+21.2%
Sector allocation
Services media 32%
Real estate 20%
Consumer discretionary 16%
Financials 13%
Other 9%
Technology 6%
Healthcare 4%
Long book by quarter
What does Impactive Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| VAC MARRIOTT VACATIONS WORLD | Real estate | 4.1M | $268.9M | 19.5% | Held |
| WEX WEX INC | Services media | 1.7M | $261.3M | 18.9% | -22.2% |
| ABG ASBURY AUTOMOTIVE GROUP | Consumer discretionary | 1.1M | $209.6M | 15.2% | -14.0% |
| SLM SLM CORP | Financials | 7.8M | $167.5M | 12.1% | +8.3% |
| WMS ADVANCED DRAINAGE SYSTEMS IN | Other | 856.5K | $117.5M | 8.5% | -41.2% |
| LRN STRIDE INC | Services media | 1.1M | $98.2M | 7.1% | New |
| GTLB GITLAB INC-CL A | Technology | 3.9M | $84.7M | 6.1% | New |
| CART MAPLEBEAR INC | Services media | 1.6M | $58.9M | 4.3% | New |
| ICLR ICON PLC | Healthcare | 450.5K | $49.9M | 3.6% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 10 | $1.38B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 8 | $1.57B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 9 | $2.08B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 9 | $2.22B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 10 | $2.19B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 10 | $2.44B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 10 | $2.69B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 10 | $2.57B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 9 | $2.65B | canonical | SEC ↗ |
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