13F
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Fort Baker Capital Management LP

13F equity value
$1.1B
Positions
115
Top 10 concentration
47.7%
Quarters / total new picks
23 / 66
13F equity value over time
$0M$508B$1.0T2017201820192020202120222023202420252026

"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 23 quarters, returned +3.2% per quarter — versus +3.4% per quarter from simply owning every 13F stock. It beat that baseline in only 52.2% of quarters (excess t = -0.39, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-2.0%
t-stat
-0.39
Quarterly win rate
52%
Annualized excess
-5.3%
$1 → follow vs universe
$1.49 vs $1.96
Cumulative return: $1 invested in new picks vs universe
1.00 20180630: universe 0.92120190331: universe 0.90520190630: universe 0.97320190930: universe 1.04620191231: universe 0.84420200331: universe 1.01820200630: universe 1.12420200930: universe 1.37920210331: universe 1.39120210930: universe 1.24920220331: universe 1.34120220630: universe 1.24220220930: universe 1.33420221231: universe 1.23920230331: universe 1.30520230930: universe 1.48220240630: universe 1.61620240930: universe 1.60220241231: universe 1.49620250331: universe 1.63120250630: universe 1.68220250930: universe 1.89120251231: universe 1.956 20180630: follow 0.64420190331: follow 0.54820190630: follow 0.60420190930: follow 0.63220191231: follow 0.56720200331: follow 0.71020200630: follow 0.64620200930: follow 0.74420210331: follow 0.98320210930: follow 0.96020220331: follow 1.08120220630: follow 1.14420220930: follow 1.24220221231: follow 1.09620230331: follow 1.18720230930: follow 1.17320240630: follow 1.20220240930: follow 1.17020241231: follow 1.04220250331: follow 1.17320250630: follow 0.91620250930: follow 1.30220251231: follow 1.487 0.50 1.31 2.11 20182019202020212022202320242025 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 115 · 2026 Q1

Ticker Value Weight QoQ
WBD $110M
9.8%
ADD
EA $81M
7.1%
ADD
AES $62M
5.5%
NEW
MASI $56M
4.9%
NEW
NSC $50M
4.4%
NEW
TERN $43M
3.8%
NEW
LBRDK $42M
3.7%
ADD
BCSS $40M
3.6%
ADD
CCXI $26M
2.3%
NEW
GTEN $24M
2.1%
ADD
CWAN $23M
2.0%
TRIM
VAC $21M
1.9%
NEW
ANSC $21M
1.9%
HOLD
ENOV $21M
1.8%
ADD
NWE $21M
1.8%
NEW
MSTR $19M
1.7%
ADD
RAAQ $18M
1.6%
NEW
COHN $17M
1.5%
ADD
OS $17M
1.5%
NEW
PMTR $16M
1.4%
ADD

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

AESBCOCTLPCWENDKNGEHABFIGGETYHAEITAMASIMSGSNSCNWEOSRGENSLABSMHTERNUAAVACXLI

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.