Styrax Capital, LP

13F equity value

$1.4B

Positions

Top 10 concentration

79.6%

Quarters / total new picks

11 / 42

13F equity value over time

"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 11 quarters, returned +9.4% per quarter — versus +3.6% per quarter from simply owning every 13F stock. It beat that baseline in only 81.8% of quarters (excess t = 0.62, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess

+5.2%

t-stat

0.62

Quarterly win rate

82%

Annualized excess

+22.5%

$1 → follow vs universe

$2.35 vs $1.44

Cumulative return: $1 invested in new picks vs 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 17 holdings of 17 · 2026 Q1

Ticker	Value	Weight	QoQ
AMZN	$208M	14.5%	HOLD
META	$176M	12.3%	ADD
MA	$112M	7.8%	HOLD
NVDA	$105M	7.3%	TRIM
GOOGL	$101M	7.0%	ADD
LITE	$98M	6.9%	ADD
CVNA	$94M	6.6%	ADD
VRT	$88M	6.1%	TRIM
AXON	$85M	5.9%	NEW
SPOT	$73M	5.1%	ADD
KEYS	$71M	4.9%	NEW
AMAT	$68M	4.8%	NEW
NET	$41M	2.9%	NEW
FN	$39M	2.7%	TRIM
SITM	$31M	2.2%	HOLD
GH	$28M	1.9%	ADD
MDB	$13M	0.9%	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

AMAT AXON KEYS NET

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.