SBI Holdings USA, Inc.
Long book
$154.0M
Q1 2026
Positions
1
Top-10 weight
100%
concentration
Last quarter
-32.3%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsSBI Holdings USA, Inc. is a diversified fundamental manager, specialised in financials (100% of the long book), running a $154.0M US long book across 1 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: CIRCLE INTERNET GROUP INC.
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
Q4 2025
+20.3%
Q1 2026
-32.3%
Sector allocation
Financials 100%
Long book by quarter
What does SBI Holdings own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CRCL CIRCLE INTERNET GROUP INC | Financials | 1.6M | $154.0M | 100.0% | Held |