Long Path Partners LP
Long book
$220.1M
Q1 2026
Positions
9
Top-10 weight
100%
concentration
Last quarter
+12.6%
SPY +14.8%
Turnover
40%
of book per quarter
Strategy in plain words
auto-generated from filingsLong Path Partners LP is a concentrated fundamental stock-picker, specialised in technology (85% of the long book), running a $220.1M US long book across 9 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: NCINO INC, MESA LABORATORIES INC, ALKAMI TECHNOLOGY INC, CORPAY INC, TYLER TECHNOLOGIES INC.
Over the last 9 quarters its long book ran on average 7.4pp per quarter behind the S&P 500, beating the index in 2 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
-8.7%
Q2 2024
+8.3%
Q3 2024
+8.2%
Q4 2024
-14.1%
Q1 2025
+3.2%
Q2 2025
-3.8%
Q3 2025
-7.4%
Q4 2025
-25.0%
Q1 2026
+12.6%
Sector allocation
Technology 85%
Services media 12%
Industrials 3%
Long book by quarter
What does Long Path own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NCNO NCINO INC | Technology | 4.4M | $66.2M | 30.1% | +20.6% |
| MLAB MESA LABORATORIES INC | Technology | 405.6K | $35.9M | 16.3% | +78.5% |
| ALKT ALKAMI TECHNOLOGY INC | Technology | 1.8M | $28.2M | 12.8% | -42.7% |
| CPAY CORPAY INC | Services media | 88.3K | $25.7M | 11.7% | -34.7% |
| TYL TYLER TECHNOLOGIES INC | Technology | 60.3K | $20.6M | 9.4% | New |
| IIIV I3 VERTICALS INC-CLASS A | Technology | 819.6K | $18.3M | 8.3% | -25.0% |
| PCOR PROCORE TECHNOLOGIES INC | Technology | 209.2K | $11.9M | 5.4% | -16.6% |
| TDG TRANSDIGM GROUP INC | Industrials | 6.5K | $7.5M | 3.4% | New |
| VEEV VEEVA SYSTEMS INC-CLASS A | Technology | 32.9K | $5.8M | 2.6% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 9 | $220.1M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 7 | $292.4M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 7 | $276.6M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 6 | $294.6M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 10 | $258.7M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 11 | $308.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 10 | $308.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 10 | $252.3M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 9 | $190.0M | canonical | SEC ↗ |