SurgoCap Partners LP
Long book
$2.99B
Q1 2026
Positions
14
Top-10 weight
92%
concentration
Last quarter
+15.9%
SPY +14.8%
Turnover
45%
of book per quarter
Strategy in plain words
auto-generated from filingsSurgoCap Partners LP is a concentrated fundamental stock-picker, running a $2.99B US long book across 14 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: CARPENTER TECHNOLOGY, ALPHABET INC-CL C, TAIWAN SEMICONDUCTOR-SP ADR, LPL FINANCIAL HOLDINGS INC, MCKESSON CORP.
Over the last 9 quarters its long book ran on average 1pp per quarter ahead of the S&P 500, beating the index in 6 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
+6.2%
Q2 2024
+5.1%
Q3 2024
+9.7%
Q4 2024
+1.3%
Q1 2025
+18.9%
Q2 2025
-2.8%
Q3 2025
+3.3%
Q4 2025
-8.3%
Q1 2026
+15.9%
Sector allocation
Technology 29%
Industrials 22%
Financials 17%
Healthcare 16%
Consumer discretionary 12%
Services media 3%
Long book by quarter
What does SurgoCap Partners own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CRS CARPENTER TECHNOLOGY | Industrials | 1.2M | $471.8M | 15.8% | +3.8% |
| GOOG ALPHABET INC-CL C | Technology | 1.5M | $427.1M | 14.3% | +19.1% |
| LPLA LPL FINANCIAL HOLDINGS INC | Financials | 1.0M | $307.1M | 10.3% | +2.6% |
| MCK MCKESSON CORP | Consumer discretionary | 348.7K | $301.8M | 10.1% | -16.8% |
| MDLN MEDLINE INC-CL A | Healthcare | 6.1M | $270.3M | 9.0% | New |
| NVDA NVIDIA CORP | Technology | 1.0M | $175.8M | 5.9% | +61.9% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 333.0K | $153.5M | 5.1% | +26.7% |
| NU NU HOLDINGS LTD/CAYMAN ISL-A | Financials | 9.9M | $141.8M | 4.7% | -6.2% |
| GLW CORNING INC | Industrials | 858.5K | $116.7M | 3.9% | New |
| V VISA INC-CLASS A SHARES | Services media | 288.4K | $87.2M | 2.9% | New |
| NIQ NIQ GLOBAL INTELLIGENCE PLC | Technology | 5.9M | $66.6M | 2.2% | Held |
| SHOP SHOPIFY INC - CLASS A | Technology | 515.7K | $61.2M | 2.0% | +48.1% |
| FIG FIGMA INC-CL A | Technology | 1.9M | $39.5M | 1.3% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 14 | $2.99B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 17 | $3.61B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 16 | $3.60B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 13 | $2.65B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 12 | $2.02B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 12 | $1.94B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 12 | $2.00B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 13 | $1.71B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 14 | $1.86B | canonical | SEC ↗ |
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