13F
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Lingotto Investment Management LLP

13F equity value
$5.0B
Positions
34
Top 10 concentration
81.7%
Quarters / total new picks
19 / 75
13F equity value over time
$0M$3B$6B2017201820192020202120222023202420252026

"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 19 quarters, returned +4.3% per quarter — versus +2.6% per quarter from simply owning every 13F stock. It beat that baseline in only 42.1% of quarters (excess t = 1.26, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+9.4%
t-stat
1.26
Quarterly win rate
42%
Annualized excess
-1.9%
$1 → follow vs universe
$1.38 vs $1.50
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120191231: universe 0.84020200630: universe 0.92820200930: universe 1.13820211231: universe 0.96820220331: universe 1.04020220930: universe 1.11720221231: universe 1.03720230331: universe 1.09320230630: universe 1.05420230930: universe 1.19620231231: universe 1.24920240331: universe 1.27820240630: universe 1.39420240930: universe 1.38220241231: universe 1.28920250331: universe 1.40620250630: universe 1.45020251231: universe 1.500 20180331: follow 0.75120191231: follow 0.88120200630: follow 0.91420200930: follow 1.02320211231: follow 1.00620220331: follow 0.89620220930: follow 1.01320221231: follow 0.85120230331: follow 1.81020230630: follow 1.76120230930: follow 1.57020231231: follow 1.64320240331: follow 1.72120240630: follow 1.87320240930: follow 1.82420241231: follow 1.70320250331: follow 1.75920250630: follow 1.41120251231: follow 1.379 0.69 1.36 2.02 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 34 · 2026 Q1

Ticker Value Weight QoQ
TEVA $836M
16.6%
TRIM
CVNA $801M
15.9%
TRIM
PSKY $417M
8.3%
TRIM
VAL $363M
7.2%
HOLD
NG $331M
6.6%
ADD
RRC $325M
6.4%
HOLD
VEON $280M
5.5%
HOLD
SLB $279M
5.5%
ADD
SBSW $246M
4.9%
TRIM
GDXJ $239M
4.7%
TRIM
AG $215M
4.3%
HOLD
NVDA $107M
2.1%
ADD
TSM $94M
1.9%
HOLD
TEM $64M
1.3%
ADD
NET $62M
1.2%
ADD
ISRG $61M
1.2%
ADD
MELI $42M
0.8%
ADD
NOW $41M
0.8%
ADD
AUR $40M
0.8%
ADD
MRNA $39M
0.8%
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

KKRNBISOWL

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.