Cartenna Capital, LP
"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.
13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.
We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 20 quarters, returned +2.8% per quarter — versus +1.8% per quarter from simply owning every 13F stock. It beat that baseline in only 45.0% of quarters (excess t = 1.05, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 41 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| PH | $128M | | ADD |
| AME | $115M | | ADD |
| TT | $113M | | NEW |
| GE | $104M | | NEW |
| ASML | $96M | | NEW |
| ADI | $92M | | NEW |
| ULTA | $85M | | NEW |
| GVA | $82M | | TRIM |
| LRCX | $78M | | NEW |
| CL | $72M | | NEW |
| WTS | $70M | | ADD |
| MCD | $68M | | TRIM |
| RBC | $68M | | TRIM |
| CSX | $68M | | ADD |
| LECO | $67M | | TRIM |
| AMZN | $62M | | TRIM |
| XRT | $60M | | HOLD |
| GM | $60M | | NEW |
| ETN | $59M | | NEW |
| FDX | $57M | | NEW |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q1
Method & Limitations
Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.