Whitebark Investors LP
Long book
$125.1M
Q1 2026
Positions
9
Top-10 weight
100%
concentration
Last quarter
+14.7%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsWhitebark Investors LP is a concentrated fundamental stock-picker, running a $125.1M US long book across 9 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: COUPANG INC, MICROSOFT CORP, GLOBAL-E ONLINE LTD, FLUTTER ENTERTAINMENT PLC-DI, GOOSEHEAD INSURANCE INC -A.
Over the last 6 quarters its long book ran on average 5.8pp per quarter behind the S&P 500, beating the index in 1 of 6 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
Q4 2024
+0.4%
Q1 2025
+9.7%
Q2 2025
+4.3%
Q3 2025
-7.9%
Q4 2025
-28.0%
Q1 2026
+14.7%
Sector allocation
Technology 38%
Consumer discretionary 25%
Financials 16%
Other 11%
Communications 9%
Long book by quarter
What does Whitebark Investors own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CPNG COUPANG INC | Consumer discretionary | 1.1M | $20.2M | 16.2% | +1.8% |
| MSFT MICROSOFT CORP | Technology | 50.9K | $18.8M | 15.1% | Held |
| GLBE GLOBAL-E ONLINE LTD | Technology | 595.4K | $18.4M | 14.7% | Held |
| PPB FLUTTER ENTERTAINMENT PLC-DI | — | 134.8K | $13.7M | 11.0% | Held |
| GSHD GOOSEHEAD INSURANCE INC -A | Financials | 269.3K | $11.5M | 9.2% | Held |
| GO GROCERY OUTLET HOLDING CORP | Consumer discretionary | 1.6M | $11.4M | 9.1% | Held |
| SHEN SHENANDOAH TELECOMMUNICATION | Communications | 726.4K | $11.2M | 9.0% | +71.7% |
| BLND BLEND LABS INC-A | Technology | 6.3M | $10.8M | 8.6% | +25.1% |
| KLAR KLARNA GROUP PLC | Financials | 690.4K | $9.0M | 7.2% | +158.2% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 9 | $125.1M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 9 | $166.0M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 10 | $210.0M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR/ANEW HOLDINGS | Aug 14, 2025 | 9 | $207.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 18, 2025 | 7 | $158.6M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 12, 2025 | 9 | $190.7M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 9 | $215.8M | canonical | SEC ↗ |
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