Paradigm Operations LP
Long book
$954.1M
Q1 2026
Positions
3
Top-10 weight
100%
concentration
Last quarter
+17.9%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsParadigm Operations LP is a diversified fundamental manager, specialised in financials (100% of the long book), running a $954.1M US long book across 3 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: COINBASE GLOBAL INC -CLASS A, ROBINHOOD MARKETS INC - A, HYPERLIQUID STRATEGIES.
Over the last 9 quarters its long book ran on average 0.4pp per quarter ahead of the S&P 500, beating the index in 3 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
-16.2%
Q2 2024
-19.8%
Q3 2024
+39.4%
Q4 2024
-30.6%
Q1 2025
+103.5%
Q2 2025
+6.3%
Q3 2025
-30.0%
Q4 2025
-26.2%
Q1 2026
+17.9%
Sector allocation
Financials 100%
Long book by quarter
What does Paradigm Operations own?
Q1 2026 13F13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 3 | $954.1M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 3 | $1.36B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 2 | $1.87B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 2 | $1.76B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 1 | $711.0M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 1 | $1.02B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 1 | $804.5M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 1 | $1.00B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 1 | $1.20B | canonical | SEC ↗ |