TB Alternative Assets Ltd.
Long book
$481.1M
Q1 2026
Positions
36
Top-10 weight
68%
concentration
Last quarter
+2.0%
SPY +14.8%
Turnover
70%
of book per quarter
Strategy in plain words
auto-generated from filingsTB Alternative Assets Ltd. is a concentrated fundamental stock-picker, running a $481.1M US long book across 36 positions.
The portfolio is concentrated: the top 10 names carry 68% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: META PLATFORMS INC-CLASS A, PROSHARES ULTRA GOLD, PDD HOLDINGS INC, FIGURE TECHNOLOGY SOLUT-CL A, OCCIDENTAL PETROLEUM CORP.
Over the last 9 quarters its long book ran on average 0.4pp per quarter ahead of the S&P 500, beating the index in 4 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
+4.1%
Q2 2024
+1.5%
Q3 2024
+7.2%
Q4 2024
-3.3%
Q1 2025
+30.5%
Q2 2025
+17.5%
Q3 2025
-7.6%
Q4 2025
-8.2%
Q1 2026
+2.0%
Sector allocation
Technology 35%
Financials 19%
Energy 16%
Materials 14%
Industrials 7%
Utilities 6%
Communications 2%
Consumer discretionary 0%
Long book by quarter
What does TB Alternative own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| META META PLATFORMS INC-CLASS A | Technology | 135.0K | $77.2M | 16.1% | -22.0% |
| FIGR FIGURE TECHNOLOGY SOLUT-CL A | Financials | 997.4K | $33.9M | 7.0% | +46.3% |
| OXY OCCIDENTAL PETROLEUM CORP | Energy | 514.7K | $33.5M | 7.0% | New |
| GOOG ALPHABET INC-CL C | Technology | 83.7K | $24.0M | 5.0% | -73.2% |
| RKLB ROCKET LAB CORP | Industrials | 359.2K | $23.1M | 4.8% | +359.3% |
| AEM AGNICO EAGLE MINES LTD | Materials | 100.1K | $20.3M | 4.2% | -56.4% |
| LEU CENTRUS ENERGY CORP-CLASS A | Materials | 109.9K | $19.1M | 4.0% | +20.8% |
| LMND LEMONADE INC | Financials | 235.8K | $14.8M | 3.1% | New |
| XOM EXXON MOBIL CORP | Energy | 79.7K | $13.5M | 2.8% | New |
| UNH UNITEDHEALTH GROUP INC | Financials | 47.2K | $12.8M | 2.7% | New |
| INTC INTEL CORP | Technology | 284.3K | $12.5M | 2.6% | -77.0% |
| LNG CHENIERE ENERGY INC | Utilities | 32.0K | $9.1M | 1.9% | New |
| PSKY PARAMOUNT SKYDANCE CL B | Communications | 758.2K | $6.8M | 1.4% | +94.8% |
| MP MP MATERIALS CORP | Materials | 129.4K | $6.2M | 1.3% | -28.1% |
| EQT EQT CORP | Energy | 77.1K | $4.9M | 1.0% | New |
| ET ENERGY TRANSFER LP | Utilities | 251.0K | $4.8M | 1.0% | New |
| CEG CONSTELLATION ENERGY | Utilities | 12.5K | $3.5M | 0.7% | -54.1% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 64.5K | $2.4M | 0.5% | New |
| LITE LUMENTUM HOLDINGS INC | Technology | 2.3K | $1.6M | 0.3% | New |
| CHWY CHEWY INC - CLASS A | Consumer discretionary | 51.4K | $1.4M | 0.3% | New |
| CF CF INDUSTRIES HOLDINGS INC | Other | 10.6K | $1.4M | 0.3% | New |
| AXTI AXT INC | Technology | 9.8K | $556K | 0.1% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 16, 2026 | 36 | $481.1M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 16, 2026 | 50 | $610.8M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 17, 2025 | 48 | $668.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 16, 2025 | 41 | $540.0M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 14, 2025 | 44 | $430.4M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 17, 2025 | 43 | $388.4M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 21, 2024 | 40 | $421.4M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 18, 2024 | 37 | $429.5M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 15, 2024 | 40 | $399.4M | canonical | SEC ↗ |
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