Maple Rock Capital Partners Inc.
Long book
$3.07B
Q1 2026
Positions
44
Top-10 weight
54%
concentration
Last quarter
+28.5%
SPY +14.8%
Turnover
39%
of book per quarter
Strategy in plain words
auto-generated from filingsMaple Rock Capital Partners Inc. is a concentrated fundamental stock-picker, running a $3.07B US long book across 44 positions.
The portfolio is concentrated: the top 10 names carry 54% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: WESTERN DIGITAL CORP, EQUINOX GOLD CORP, SEAGATE TECHNOLOGY HOLDINGS, CLEVELAND-CLIFFS INC, TFI INTERNATIONAL INC.
Over the last 9 quarters its long book ran on average 6.7pp per quarter ahead of the S&P 500, beating the index in 6 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
-1.3%
Q2 2024
+17.5%
Q3 2024
-5.3%
Q4 2024
-10.9%
Q1 2025
+13.3%
Q2 2025
+31.8%
Q3 2025
+14.9%
Q4 2025
+11.9%
Q1 2026
+28.5%
Sector allocation
Industrials 23%
Materials 19%
Technology 18%
Other 13%
Financials 8%
Healthcare 8%
Consumer discretionary 6%
Services media 4%
Long book by quarter
What does Maple Rock own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| WDC WESTERN DIGITAL CORP | Technology | 1.4M | $378.8M | 12.3% | -41.2% |
| EQX EQUINOX GOLD CORP | Materials | 19.4M | $280.8M | 9.1% | -4.0% |
| STXN SEAGATE TECHNOLOGY HOLDINGS | — | 534.0K | $209.2M | 6.8% | -19.8% |
| CLF CLEVELAND-CLIFFS INC | Materials | 20.7M | $175.3M | 5.7% | +67.9% |
| TFII TFI INTERNATIONAL INC | Industrials | 1.4M | $147.9M | 4.8% | New |
| BKD BROOKDALE SENIOR LIVING INC | Healthcare | 8.2M | $111.6M | 3.6% | -4.0% |
| SNDK SANDISK CORP | Technology | 166.5K | $105.8M | 3.4% | -65.9% |
| LPX LOUISIANA-PACIFIC CORP | Other | 1.1M | $80.9M | 2.6% | +88.9% |
| CVS CVS HEALTH CORP | Healthcare | 1.0M | $75.3M | 2.4% | +28.4% |
| MT ARCELORMITTAL-NY REGISTERED | Industrials | 1.4M | $73.5M | 2.4% | -13.3% |
| AAP ADVANCE AUTO PARTS INC | Consumer discretionary | 1.3M | $68.5M | 2.2% | -4.0% |
| ASTL ALGOMA STEEL GROUP INC | Industrials | 15.9M | $65.8M | 2.1% | +10.4% |
| XPO XPO INC | Industrials | 320.2K | $62.3M | 2.0% | New |
| LKQ LKQ CORP | Consumer discretionary | 2.1M | $60.7M | 2.0% | +97.3% |
| AA ALCOA CORP | Industrials | 903.3K | $59.9M | 1.9% | -72.3% |
| HUM HUMANA INC | Financials | 344.8K | $59.8M | 1.9% | +99.7% |
| UNH UNITEDHEALTH GROUP INC | Financials | 215.4K | $58.3M | 1.9% | +291.6% |
| LYFT LYFT INC-A | Services media | 4.1M | $54.9M | 1.8% | -4.0% |
| WAB WABTEC CORP | Industrials | 215.4K | $53.8M | 1.8% | New |
| ASO ACADEMY SPORTS & OUTDOORS IN | Consumer discretionary | 840.0K | $47.4M | 1.5% | New |
| RKT ROCKET COS INC-CLASS A | Financials | 3.1M | $44.6M | 1.5% | +72.2% |
| NGVT INGEVITY CORP | Materials | 603.3K | $43.0M | 1.4% | -10.6% |
| RUN SUNRUN INC | Technology | 3.0M | $40.7M | 1.3% | -43.6% |
| ARCB ARCBEST CORP | Industrials | 404.3K | $39.8M | 1.3% | +181.3% |
| GT GOODYEAR TIRE & RUBBER CO | Other | 5.8M | $38.6M | 1.3% | +46.4% |
| TPB TURNING POINT BRANDS INC | Consumer staples | 436.0K | $37.8M | 1.2% | +9.2% |
| ICLR ICON PLC | Healthcare | 335.3K | $37.1M | 1.2% | New |
| BTG B2GOLD CORP | Materials | 8.2M | $37.0M | 1.2% | New |
| THO THOR INDUSTRIES INC | Industrials | 461.9K | $36.9M | 1.2% | +170.5% |
| WGO WINNEBAGO INDUSTRIES | Industrials | 1.2M | $36.3M | 1.2% | New |
| RYAM RAYONIER ADVANCED MATERIALS | Other | 3.3M | $36.1M | 1.2% | New |
| LVS LAS VEGAS SANDS CORP | Services media | 662.8K | $35.7M | 1.2% | -52.0% |
| WHR WHIRLPOOL CORP | Industrials | 593.2K | $32.0M | 1.0% | +46.8% |
| MOH MOLINA HEALTHCARE INC | Financials | 169.7K | $22.6M | 0.7% | -25.0% |
| CNC CENTENE CORP | Financials | 656.6K | $21.5M | 0.7% | -35.1% |
| KNX KNIGHT-SWIFT TRANSPORTATION | Industrials | 366.1K | $21.1M | 0.7% | New |
| NUE NUCOR CORP | Industrials | 117.2K | $19.8M | 0.6% | New |
| FBIN FORTUNE BRANDS INNOVATIONS I | Other | 485.8K | $18.9M | 0.6% | New |
| ELV ELEVANCE HEALTH INC | Financials | 62.0K | $18.2M | 0.6% | New |
| WERN WERNER ENTERPRISES INC | Industrials | 553.4K | $16.3M | 0.5% | -30.3% |
| CAR AVIS BUDGET GROUP INC | Services media | 92.2K | $13.5M | 0.4% | New |
| HCC WARRIOR MET COAL INC | Materials | 143.1K | $13.3M | 0.4% | -91.3% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 44 | $3.07B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 38 | $3.03B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 41 | $2.53B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 40 | $2.04B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 41 | $2.73B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 36 | $3.33B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 33 | $3.53B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 34 | $2.95B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 31 | $1.80B | canonical | SEC ↗ |
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