SANTA MONICA PARTNERS LP
Long book
$179.1M
Q1 2026
Positions
13
Top-10 weight
99%
concentration
Last quarter
+9.5%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsSANTA MONICA PARTNERS LP is a concentrated fundamental stock-picker, running a $179.1M US long book across 13 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: TEXAS PACIFIC LAND TRUST, MASTERCARD INC - A, BEL FUSE INC-CL B, GARMIN LTD, BALCHEM CORP.
Over the last 9 quarters its long book ran on average 1.6pp per quarter behind the S&P 500, beating the index in 3 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
-3.0%
Q2 2024
+11.7%
Q3 2024
+1.9%
Q4 2024
+2.5%
Q1 2025
+3.2%
Q2 2025
+4.3%
Q3 2025
-0.2%
Q4 2025
-4.0%
Q1 2026
+9.5%
Sector allocation
Services media 59%
Technology 27%
Materials 9%
Financials 5%
Long book by quarter
What does SANTA MONICA own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| MA MASTERCARD INC - A | Services media | 102.2K | $51.0M | 28.5% | Held |
| BELFB BEL FUSE INC-CL B | Technology | 67.6K | $13.4M | 7.5% | Held |
| GRMN GARMIN LTD | Technology | 40.8K | $9.5M | 5.3% | Held |
| BCPC BALCHEM CORP | Materials | 51.1K | $8.7M | 4.8% | -56.3% |
| BR BROADRIDGE FINANCIAL SOLUTIO | Services media | 40.8K | $6.6M | 3.7% | Held |
| BELFA BEL FUSE INC-CL A | Technology | 23.4K | $4.2M | 2.4% | Held |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 4 | $2.9M | 1.6% | Held |
| LB LANDBRIDGE CO LLC-A | Financials | 18.0K | $1.2M | 0.7% | Held |
| MCB METROPOLITAN BANK HOLDING CO | Financials | 7.8K | $651K | 0.4% | Held |
| BNT BROOKFIELD WEALTH SOLUTIONS | Financials | 6.9K | $287K | 0.2% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 13 | $179.1M | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 13 | $164.9M | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 13 | $170.4M | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 13 | $171.5M | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 13 | $182.5M | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 30, 2025 | 17 | $185.2M | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 17 | $169.8M | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 16 | $148.9M | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 16 | $144.6M | $K fixed canonical | SEC ↗ |
Similar funds
Sanders Capital, LLCGATES FOUNDATION TRUSTEAGLE CAPITAL MANAGEMENT LLCWoodbridge Co LtdAlecta Tjanstepension OmsesidigtMubadala Investment Co PJSCH&H International Investment, LLCNewlands Management Operations LLCINVESTOR ABIndependent Franchise Partners LLPPineStone Asset Management Inc.Pentwater Capital Management LP