JCP Investment Management, LLC
Long book
$150.3M
Q1 2026
Positions
24
Top-10 weight
86%
concentration
Last quarter
+14.1%
SPY +14.8%
Turnover
50%
of book per quarter
Strategy in plain words
auto-generated from filingsJCP Investment Management, LLC is a concentrated fundamental stock-picker, running a $150.3M US long book across 24 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: SS SPDR S&P 500 ETF TRUST-US, UNITED NATURAL FOODS INC, FIDELITY NATIONAL FINANCIAL, HOWARD HUGHES HOLDINGS INC, SEMPRA.
Over the last 9 quarters its long book ran on average 0.9pp per quarter behind the S&P 500, beating the index in 4 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
-2.8%
Q2 2024
+8.7%
Q3 2024
+9.7%
Q4 2024
-0.5%
Q1 2025
+3.8%
Q2 2025
+4.8%
Q3 2025
-7.1%
Q4 2025
+1.8%
Q1 2026
+14.1%
Sector allocation
Consumer discretionary 31%
Financials 24%
Utilities 18%
Real estate 13%
Industrials 7%
Other 5%
Services media 1%
Energy 0%
Long book by quarter
What does JCP Investment own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| UNFI UNITED NATURAL FOODS INC | Consumer discretionary | 494.4K | $22.3M | 14.8% | +6.7% |
| FNF FIDELITY NATIONAL FINANCIAL | Financials | 376.5K | $17.5M | 11.6% | +10.2% |
| HHH HOWARD HUGHES HOLDINGS INC | Real estate | 234.1K | $14.8M | 9.9% | +29.3% |
| SRE SEMPRA | Utilities | 106.4K | $10.4M | 6.9% | New |
| KMI KINDER MORGAN INC | Utilities | 279.2K | $9.4M | 6.2% | Held |
| GNRC GENERAC HOLDINGS INC | Industrials | 38.5K | $7.5M | 5.0% | +75.0% |
| RRGB RED ROBIN GOURMET BURGERS | Consumer discretionary | 1.9M | $5.5M | 3.6% | Held |
| JYNT JOINT CORP/THE | Financials | 593.9K | $5.3M | 3.5% | Held |
| MCD MCDONALD'S CORP | Consumer discretionary | 11.8K | $3.7M | 2.4% | New |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 6.7K | $3.2M | 2.1% | New |
| AL AIR LEASE CORP | — | 40.0K | $2.6M | 1.7% | New |
| TLF TANDY LEATHER FACTORY INC | Other | 876.1K | $2.0M | 1.3% | Held |
| BJRI BJ'S RESTAURANTS INC | Consumer discretionary | 47.4K | $1.7M | 1.1% | -62.0% |
| FB1 FARMER BROS CO | — | 979.6K | $1.2M | 0.8% | Held |
| DASH DOORDASH INC - A | Services media | 6.6K | $991K | 0.7% | New |
| KR KROGER CO | Consumer discretionary | 12.3K | $890K | 0.6% | -19.6% |
| SLF SUN LIFE FINANCIAL INC | Financials | 12.8K | $798K | 0.5% | New |
| BRN BARNWELL INDUSTRIES INC | Energy | 409.2K | $442K | 0.3% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 24 | $150.3M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 18, 2026 | 18 | $126.6M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 18 | $152.6M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 15, 2025 | 20 | $173.3M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 9, 2025 | 17 | $162.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 17 | $169.7M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 15 | $120.6M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 15, 2024 | 13 | $89.5M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 7, 2024 | 11 | $62.7M | canonical | SEC ↗ |
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