AA
Ancient Art, L.P. 13F Filing (Q2 2026) — Top Positions & Stock Picks
Ancient Art, L.P.CIK: 0001426749
Sector-focusedContrarianQuality / disciplined sizing
Total reported value
$489.4M
Reporting period: 2026-06-30 · Number of holdings: 16
Ancient Art, L.P. disclosed 16 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $489.4M and a quarterly turnover rate of 65.0%.
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Personality snowflake
- Concentration
- 47.38
- Portfolio Stability
- 65.01
- Momentum
- 0
- Sector conviction
- 100
- Diversification
- 32
- Sizing Uniformity
- 90.23
Ancient Art, L.P.'s disclosed holdings carry a Herfindahl concentration index of 0.118 — mathematically equivalent to about 8 equally-sized positions, well below its 16 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.98), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 69% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out ECHO
New buy Z
Sold out MELI
New buy RKT
Add IBKR
0.0% $25.7M
Add CPNG
+200.1% $19.8M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IBKR | Interactive Brokers Gro-cl A | Stock-Financials | 22.86% | +4.06% | — | |
| 2 | Z | Zillow Group Inc - C | Stock-Comm Services | 13.91% | +13.91% | NEW | |
| 3 | UPWK | Upwork Inc | Stock-Other | 12.35% | -1.89% | +21.29% | |
| 4 | ALLY | Ally Financial Inc | Stock-Financials | 12.28% | +1.09% | — | |
| 5 | CPNG | Coupang Inc | Stock-Consumer Disc | 6.33% | +3.88% | +200.07% | |
| 6 | RKT | Rocket Cos Inc-class A | Stock-Financials | 4.83% | +4.83% | NEW | |
| 7 | GTLB | Gitlab Inc-cl A | Stock-Tech | 4.68% | +1.14% | — | |
| 8 | SPT | Sprout Social Inc - Class A | Stock-Other | 3.91% | +0.76% | — | |
| 9 | ULCC | Frontier Group Holdings Inc | Stock-Other | 3.87% | +1.47% | -23.30% | |
| 10 | TBBB | BBB Foods Inc. | Stock-Other | 3.84% | +0.36% | — | |
| 11 | STLA | Stellantis N.V. | Stock-Consumer Disc | 3.75% | -1.20% | — | |
| 12 | LOMA | Loma Negra Cia Ind-spon Adr | Stock-Other | 3.36% | -0.11% | — | |
| 13 | TBN | Tamboran Resources CORP | Stock-Other | 2.90% | -1.86% | — | |
| 14 | VLRS | Controladora Vuela Cia-adr | Stock-Other | 0.78% | +0.14% | — | |
| 15 | THRY | Thryv Holdings Inc | Stock-Other | 0.30% | -0.63% | -75.81% | |
| 16 | DLO | DLocal Limited | Stock-Other | 0.03% | — | — |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q3 2026
+1.9%
Performance Last 4 Quarters
+20.3%
- Stdev
- +25.4%
- Beta
- +1.39
- Alpha
- -5.8%
- Max Drawdown
- -22.1%
- Annualized Perf
- +20.7%
- Batting Avg vs S&P
- +50%
- Sortino
- +1.56
- Stutzer
- +0.25
- Treynor
- +0.16
- Sterling
- +0.78
- Calmar
- +0.94
- Information Ratio
- +0.11
- Tracking Error
- +18.6%
- Stdev Down
- +14.1%
- Winning Months %
- +58.3%
- Losing Months %
- +41.7%
- Best 12 Months
- +52%
- Worst 12 Months
- -1.8%
- Efficiency Ratio
- +0.33
- Sharpe
- +0.87
- Stdev Sectors
- +19.8%
- Skewness
- -0.02
- Kurtosis
- -0.92
- Upside Potential
- +3.5
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 16 | $489.4M | 65 | ||
| 2026 Q1 | 16 | $458.6M | 46 | ||
| 2025 Q4 | 11 | $442.1M | 20 | ||
| 2025 Q3 | 12 | $416.1M | 78 | ||
| 2025 Q2 | 15 | $309.6M | 0 | ||
| 2025 Q1 | 12 | $337.1M | 100 | ||
| 2024 Q4 | 14 | $470.0M | 0 | ||
| 2024 Q3 | 14 | $431.9M | 0 | ||
| 2024 Q2 | 17 | $390.4M | 0 | ||
| 2024 Q1 | 16 | $494.9M | 0 | ||
| 2023 Q4 | 17 | $599.7M | 0 | ||
| 2023 Q3 | 17 | $465.8M | 0 | ||
| 2023 Q2 | 18 | $471.9M | 0 | ||
| 2023 Q1 | 17 | $458.5M | 0 | ||
| 2022 Q4 | 21 | $472.5M | 0 | ||
| 2022 Q3 | 21 | $536.2M | 0 | ||
| 2022 Q2 | 21 | $650.2M | 0 | ||
| 2022 Q1 | 20 | $769.1M | 0 | ||
| 2021 Q4 | 21 | $887.5M | 0 | ||
| 2021 Q3 | 22 | $947.4M | 0 | ||
| 2021 Q2 | 22 | $1.1B | 41 | ||
| 2021 Q1 | 23 | $1.0B | 57 | ||
| 2020 Q4 | 22 | $1.0B | 38 | ||
| 2020 Q3 | 20 | $729.0M | 47 | ||
| 2020 Q2 | 19 | $544.7M | 60 | ||
| 2020 Q1 | 27 | $620.0M | 44 | ||
| 2019 Q4 | 17 | $672.5M | 22 | ||
| 2019 Q3 | 18 | $603.2M | 16 | ||
| 2019 Q2 | 16 | $630.6M | 31 | ||
| 2019 Q1 | 15 | $549.3M | 17 | ||
| 2018 Q4 | 11 | $498.0M | 18 | ||
| 2018 Q3 | 10 | $505.1M | 20 | ||
| 2018 Q2 | 12 | $531.9M | 40 | ||
| 2018 Q1 | 14 | $500.2M | 23 | ||
| 2017 Q4 | 13 | $515.4M | 28 | ||
| 2017 Q3 | 11 | $533.6M | 27 | ||
| 2017 Q2 | 13 | $581.4M | 24 | ||
| 2017 Q1 | 11 | $579.0M | 25 | ||
| 2016 Q4 | 12 | $650.5M | 30 | ||
| 2016 Q3 | 12 | $547.4M | 20 | ||
| 2016 Q2 | 15 | $561.0M | 42 | ||
| 2016 Q1 | 17 | $512.1M | 34 | ||
| 2015 Q4 | 16 | $547.8M | 83 | ||
| 2015 Q3 | 17 | $589.7M | 48 | ||
| 2015 Q2 | 16 | $439.8M | 58 | ||
| 2015 Q1 | 18 | $353.2M | 42 | ||
| 2014 Q4 | 18 | $384.4M | 39 | ||
| 2014 Q3 | 19 | $391.8M | 24 | ||
| 2014 Q2 | 18 | $392.2M | 44 | ||
| 2014 Q1 | 19 | $386.2M | 57 | ||
| 2013 Q4 | 27 | $429.8M | 51 | ||
| 2013 Q3 | 26 | $386.0M | 45 | ||
| 2013 Q2 | 31 | $366.3M | 0 |
Holding changes this quarter
Ancient Art, L.P.'s most significant position changes for 2026-06-30: New buy: Zillow Group Inc - C (Z); Sold out: Echostar Corp-a (ECHO); Sold out: Mercadolibre Inc (MELI); New buy: Rocket Cos Inc-class A (RKT); Add: Coupang Inc (CPNG) — shares +200.07%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | Z | Zillow Group Inc - C | +13.9% | NEW | New buy |
| 2 | RKT | Rocket Cos Inc-class A | +4.8% | NEW | New buy |
| 3 | IBKR | Interactive Brokers Gro-cl A | +4.1% | — | Unchanged |
| 4 | CPNG | Coupang Inc | +3.9% | +200.07% | Add |
| 5 | ULCC | Frontier Group Holdings Inc | +1.5% | -23.30% | Trim |
| 6 | GTLB | Gitlab Inc-cl A | +1.1% | — | Unchanged |
| 7 | ALLY | Ally Financial Inc | +1.1% | — | Unchanged |
| 8 | SPT | Sprout Social Inc - Class A | +0.8% | — | Unchanged |
| 9 | TBBB | BBB Foods Inc. | +0.4% | — | Unchanged |
| 10 | VLRS | Controladora Vuela Cia-adr | +0.1% | — | Unchanged |
| 11 | DLO | DLocal Limited | — | — | Unchanged |
| 12 | LOMA | Loma Negra Cia Ind-spon Adr | -0.1% | — | Unchanged |
| 13 | THRY | Thryv Holdings Inc | -0.6% | -75.81% | Trim |
| 14 | STLA | Stellantis N.V. | -1.2% | — | Unchanged |
| 15 | TBN | Tamboran Resources CORP | -1.9% | — | Unchanged |
| 16 | UPWK | Upwork Inc | -1.9% | +21.29% | Add |
| 17 | MELI | Mercadolibre Inc | -12% | EXIT | Sold out |
| 18 | ECHO | Echostar Corp-a | -13.9% | EXIT | Sold out |
Filing History
FAQ
What is Ancient Art, L.P. and what type of investor is it?
Ancient Art, L.P. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $489.4M, spread across 16 disclosed positions.
What are Ancient Art, L.P.'s largest equity positions?
Based on the latest 13F filing, Ancient Art, L.P.'s top holdings by market value are:
1. Interactive Brokers Gro-cl A (IBKR) — $111.9M (22.9%)
2. Zillow Group Inc - C (Z) — $68.1M (13.9%)
3. Upwork Inc (UPWK) — $60.4M (12.3%)
4. Ally Financial Inc (ALLY) — $60.1M (12.3%)
5. Coupang Inc (CPNG) — $31.0M (6.3%)
What changes did Ancient Art, L.P. make in its most recent portfolio filing?
In the latest reported quarter, Ancient Art, L.P. made 8 notable position adjustments: 2 new positions were initiated, 2 existing holdings were added to, 2 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: Zillow Group Inc - C (Z); Sold out: Echostar Corp-a (ECHO); Sold out: Mercadolibre Inc (MELI); New buy: Rocket Cos Inc-class A (RKT); Add: Coupang Inc (CPNG) — shares +200.07%
What sectors does Ancient Art, L.P. focus on?
Ancient Art, L.P. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 58.2%
• Communication Services: 20.3%
• Consumer Discretionary: 14.7%
• Information Technology: 6.8%
Investment Profile
Ancient Art, L.P. returned an annualized 20.7% over the trailing 36 months — underperforming the S&P 500 by 5.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.39 (more volatile than the market) and a 50% quarterly batting average against the index.
Its portfolio is moderately concentrated and fast-trading, with 58.2% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 65 over the past 4 quarters — a shift toward more active trading.
It has added to its TBBB position over the past two quarters (+$5.7M, now $18.8M), while trimming UPWK over the same stretch (-$31.6M, still holding $60.4M).
Peer Institutions
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Developer Access
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