13F
中
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DENDUR CAPITAL LP

13F equity value
$1.4B
Positions
21
Top 10 concentration
72.8%
Quarters / total new picks
22 / 72
13F equity value over time
$0M$680M$1B20192020202120222023202420252026

"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.

Not significant Verdict

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 22 quarters, returned +2.2% per quarter — versus +4.8% per quarter from simply owning every 13F stock. It beat that baseline in only 36.4% of quarters (excess t = -0.24, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-1.2%
t-stat
-0.24
Quarterly win rate
36%
Annualized excess
-15.9%
$1 → follow vs universe
$1.16 vs $2.57
Cumulative return: $1 invested in new picks vs universe
1.00 20200331: universe 1.20620200630: universe 1.33220200930: universe 1.63320201231: universe 1.70820210331: universe 1.72320210630: universe 1.86120210930: universe 1.67020211231: universe 1.42120220331: universe 1.52620220930: universe 1.63920221231: universe 1.52320230331: universe 1.60420230930: universe 1.82120231231: universe 1.90320240331: universe 1.94520240630: universe 2.12220240930: universe 2.10420241231: universe 1.96420250331: universe 2.14120250630: universe 2.20820250930: universe 2.48320251231: universe 2.568 20200331: follow 1.23320200630: follow 1.36420200930: follow 1.46720201231: follow 1.56220210331: follow 1.57520210630: follow 1.19420210930: follow 1.10620211231: follow 0.87220220331: follow 0.81320220930: follow 0.89620221231: follow 0.76920230331: follow 0.80720230930: follow 0.84120231231: follow 0.83220240331: follow 0.83120240630: follow 1.36820240930: follow 1.22920241231: follow 1.10320250331: follow 1.30220250630: follow 1.11220250930: follow 1.33120251231: follow 1.164 0.71 1.74 2.77 202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 21 · 2026 Q1

Ticker Value Weight QoQ
DIS $211M
15.5%
ADD
ATI $187M
13.7%
TRIM
FWONK $102M
7.5%
ADD
VSEC $88M
6.5%
ADD
FUN $88M
6.5%
HOLD
MSGE $72M
5.3%
HOLD
COF $65M
4.8%
ADD
TTMI $64M
4.7%
NEW
LYV $63M
4.7%
HOLD
MKSI $49M
3.6%
NEW
GDS $46M
3.4%
NEW
UNP $45M
3.3%
TRIM
CNM $44M
3.3%
HOLD
AER $43M
3.2%
NEW
HUT $41M
3.0%
ADD
TLN $40M
2.9%
NEW
WBD $37M
2.7%
NEW
TDS $34M
2.5%
NEW
VSEC $19M
1.4%
NEW
FLUT $11M
0.8%
TRIM

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

AERCORZGDSMKSITDSTLNTTMIWBD

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.