RPO LLC
Long book
$19.3M
Q1 2026
Positions
21
Top-10 weight
81%
concentration
Last quarter
+3.3%
SPY +14.8%
Turnover
76%
of book per quarter
Strategy in plain words
auto-generated from filingsRPO LLC is an institutional manager, specialised in financials (100% of the long book), running a $19.3M US long book across 21 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: LIBERTY ALL STAR EQUITY FUND, SRH TOTAL RETURN FUND INC, LIBERTY ALL-STAR GROWTH FD, GRAYSCALE ETHEREUM STAKING M, XAI FLTNG RTE&ALT INC TRS-UI.
Over the last 9 quarters its long book ran on average 2.2pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-4.8%
Q2 2024
+4.6%
Q3 2024
+20.2%
Q4 2024
-5.2%
Q1 2025
+16.4%
Q2 2025
+10.6%
Q3 2025
-15.0%
Q4 2025
-9.6%
Q1 2026
+3.3%
Sector allocation
Technology 85%
Energy 9%
Other 2%
Services media 1%
Industrials 1%
Financials 1%
Materials 1%
Consumer staples 0%
Long book by quarter
What does RPO LLC own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 12, 2026 | 24 | $32.3M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 70 | $955.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 44 | $959.2M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 11, 2025 | 22 | $48.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 39 | $157.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 78 | $108.5M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 8, 2024 | 40 | $124.8M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 9, 2024 | 48 | $123.5M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 10, 2024 | 45 | $69.6M | canonical | SEC ↗ |