Lexington Partners L.P.
Long book
$366.4M
Q1 2026
Positions
3
Top-10 weight
100%
concentration
Last quarter
-28.9%
SPY +14.8%
Turnover
40%
of book per quarter
Strategy in plain words
auto-generated from filingsLexington Partners L.P. is a diversified fundamental manager, specialised in industrials (97% of the long book), running a $366.4M US long book across 3 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: KARMAN HOLDINGS INC, MEDLINE INC-CL A, N-ABLE INC.
Over the last 9 quarters its long book ran on average 6pp per quarter behind the S&P 500, beating the index in 5 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
+5.3%
Q2 2024
+6.0%
Q3 2024
-17.2%
Q4 2024
+2.2%
Q1 2025
+13.6%
Q2 2025
-3.7%
Q3 2025
+1.2%
Q4 2025
+8.0%
Q1 2026
-28.9%
Sector allocation
Industrials 97%
Healthcare 2%
Technology 2%
Long book by quarter
What does Lexington Partners own?
Q1 2026 13F13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 6, 2026 | 3 | $366.4M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 10, 2026 | 5 | $339.5M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 6, 2025 | 4 | $330.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 28, 2025 | 1 | $10.0M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 4 | $10.6M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 11, 2025 | 6 | $83.0M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 3 | $94.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR/ARESTATEMENT | Sep 13, 2024 | 3 | $89.0M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 3 | $125.8M | SEC ↗ | |
| Q1 2024 | 13F-HR | May 13, 2024 | 4 | $140.5M | canonical | SEC ↗ |