LANDESBANK BADEN-WUERTTEMBERG

Fundamental diversified ★Signal CIK 878519
Long book
$489.8M
Q1 2026
Positions
7
Top-10 weight
100%
concentration
Last quarter
-8.7%
SPY +14.8%
Turnover
0%
of book per quarter

Strategy in plain words

auto-generated from filings

LANDESBANK BADEN-WUERTTEMBERG is a diversified fundamental manager, running a $489.8M US long book across 7 positions.

The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: ALIBABA GROUP HOLDING-SP ADR, FERROVIAL NV, JD.COM INC-ADR, DEUTSCHE BANK AG-REGISTERED, UBS GROUP AG-REG.

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 2025
-6.9%
Q1 2026
-8.7%

Sector allocation

Industrials
92%
Other
7%
Financials
1%

Long book by quarter

$545.5M
Q4 2025
$489.8M
Q1 2026

What does LANDESBANK BADEN-WUERTTEMBERG own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
FER FERROVIAL NVIndustrials3.3M$206.1M42.1%Held
DBK DEUTSCHE BANK AG-REGISTERED—539.1K$15.5M3.2%+7.9%
UBS UBS GROUP AG-REGFinancials79.9K$3.1M0.6%+13.4%
STLA STELLANTIS NVIndustrials81.0K$562K0.1%+376.5%
RACE FERRARI NVIndustrials1.6K$530K0.1%+0.6%

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRJun 15, 20267$489.8M canonicalSEC ↗
Q4 202513F-HRJun 15, 20267$545.5M canonicalSEC ↗

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