PB INVESTMENT PARTNERS, L.P.
Long book
$127.1M
Q1 2026
Positions
10
Top-10 weight
100%
concentration
Last quarter
+20.1%
SPY +14.8%
Turnover
27%
of book per quarter
Strategy in plain words
auto-generated from filingsPB INVESTMENT PARTNERS, L.P. is a concentrated fundamental stock-picker, specialised in financials (66% of the long book), running a $127.1M US long book across 10 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: HILTON GRAND VACATIONS INC, CAPITAL ONE FINANCIAL CORP, APOLLO GLOBAL MANAGEMENT INC, BLACKROCK INC, ONEMAIN HOLDINGS INC.
Over the last 9 quarters its long book ran on average 1.7pp per quarter behind the S&P 500, beating the index in 4 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
-4.5%
Q2 2024
-1.5%
Q3 2024
+13.8%
Q4 2024
-4.1%
Q1 2025
+9.5%
Q2 2025
+1.5%
Q3 2025
+8.0%
Q4 2025
-17.7%
Q1 2026
+20.1%
Sector allocation
Financials 69%
Services media 23%
Industrials 4%
Technology 4%
Long book by quarter
What does PB INVESTMENT own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| HGV HILTON GRAND VACATIONS INC | Services media | 716.9K | $28.0M | 22.1% | +2.3% |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 133.3K | $24.3M | 19.1% | -13.6% |
| APO APOLLO GLOBAL MANAGEMENT INC | Financials | 189.1K | $21.1M | 16.6% | +15.5% |
| BLK BLACKROCK INC | Financials | 18.9K | $18.2M | 14.3% | +32.8% |
| OMF ONEMAIN HOLDINGS INC | Financials | 200.1K | $10.7M | 8.4% | -32.1% |
| BAC BANK OF AMERICA CORP | Financials | 112.7K | $5.5M | 4.3% | -65.0% |
| GBTG GLOBAL BUSINESS TRAVEL GROUP | Industrials | 931.0K | $5.2M | 4.1% | Held |
| NAVN NAVAN INC-CL A | Technology | 388.8K | $5.1M | 4.1% | New |
| WLTH WEALTHFRONT CORP | Financials | 445.7K | $4.1M | 3.2% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 8, 2026 | 10 | $127.1M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 9 | $157.4M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 8 | $147.3M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 28, 2025 | 8 | $147.0M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 8 | $126.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 21, 2025 | 8 | $133.5M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 8 | $117.7M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 9 | $123.2M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 8 | $132.7M | canonical | SEC ↗ |