Lagoda Investment Management, L.P.
Long book
$162.2M
Q1 2026
Positions
25
Top-10 weight
75%
concentration
Last quarter
+6.0%
SPY +14.8%
Turnover
21%
of book per quarter
Strategy in plain words
auto-generated from filingsLagoda Investment Management, L.P. is a concentrated fundamental stock-picker, running a $162.2M US long book across 25 positions.
The portfolio is concentrated: the top 10 names carry 75% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: TEXAS PACIFIC LAND CORP, NATERA INC, ALPHABET INC-CL C, XPO INC, TAIWAN SEMICONDUCTOR-SP ADR.
Over the last 9 quarters its long book ran on average 1.5pp per quarter ahead of the S&P 500, beating the index in 5 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
+10.0%
Q2 2024
+13.5%
Q3 2024
+8.2%
Q4 2024
-4.3%
Q1 2025
+12.1%
Q2 2025
+3.1%
Q3 2025
-3.0%
Q4 2025
+8.1%
Q1 2026
+6.0%
Sector allocation
Financials 36%
Healthcare 25%
Technology 21%
Industrials 13%
Materials 2%
Services media 2%
Consumer discretionary 1%
Long book by quarter
What does Lagoda Investment own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| TPL TEXAS PACIFIC LAND CORP | Financials | 86.2K | $40.9M | 25.2% | -17.3% |
| NTRA NATERA INC | Healthcare | 64.5K | $12.9M | 7.9% | -18.8% |
| GOOG ALPHABET INC-CL C | Technology | 37.3K | $10.7M | 6.6% | -19.0% |
| XPO XPO INC | Industrials | 49.7K | $9.7M | 6.0% | -27.6% |
| TMDX TRANSMEDICS GROUP INC | Healthcare | 90.5K | $9.0M | 5.5% | -13.6% |
| STXS STEREOTAXIS INC | Healthcare | 4.4M | $8.0M | 4.9% | -10.5% |
| UI UBIQUITI INC | Technology | 9.0K | $7.1M | 4.4% | -24.2% |
| RNR RENAISSANCERE HOLDINGS LTD | Financials | 22.6K | $6.7M | 4.1% | -13.7% |
| GXO GXO LOGISTICS INC | Industrials | 129.3K | $6.7M | 4.1% | -13.3% |
| PTC PTC INC | Technology | 41.5K | $5.9M | 3.6% | -17.9% |
| SNPS SYNOPSYS INC | Technology | 9.4K | $3.7M | 2.3% | +7.3% |
| GH GUARDANT HEALTH INC | Healthcare | 36.4K | $3.4M | 2.1% | +15.6% |
| VNRX VOLITIONRX LTD | Materials | 16.1M | $3.3M | 2.0% | +40.9% |
| PROF PROFOUND MEDICAL CORP | Healthcare | 441.0K | $2.9M | 1.8% | New |
| MA MASTERCARD INC - A | Services media | 5.1K | $2.5M | 1.6% | -12.6% |
| TRUP TRUPANION INC | Financials | 98.5K | $2.5M | 1.6% | -60.5% |
| AMD ADVANCED MICRO DEVICES | Technology | 11.5K | $2.3M | 1.4% | New |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 3.7K | $1.8M | 1.1% | -5.2% |
| HEI HEICO CORP | Industrials | 5.8K | $1.6M | 1.0% | -6.6% |
| QXO QXO INC | Consumer discretionary | 77.4K | $1.5M | 0.9% | New |
| MSFT MICROSOFT CORP | Technology | 1.1K | $407K | 0.3% | -2.2% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 25 | $162.2M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 25 | $172.7M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 23 | $176.7M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 24 | $176.5M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 33 | $157.0M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 34 | $184.9M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 34 | $174.1M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 40 | $173.8M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 40 | $163.0M | canonical | SEC ↗ |
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