Garden Investment Management, L.P. Institutional Portfolio (13F)

Garden Investment Management, L.P.'s disclosed holdings carry a Herfindahl concentration index of 0.641 — mathematically equivalent to about 2 equally-sized positions, close to its 2 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.75), suggesting a disciplined, rules-based approach to how much capital goes into each idea.

Recent activity leans toward initiating meaningfully larger new positions than it adds to existing ones (a 23.5 percentage-point tilt) — a pattern consistent with a more contrarian, new-idea-driven approach.