BC
Benchstone Capital Management LP 13F Portfolio & Position Changes
Benchstone Capital Management LPCIK: 0002016777
High-turnover traderContrarianQuality / disciplined sizing
Total reported value
$859.5M
Reporting period: 2026-03-31 · Number of holdings: 38
Benchstone Capital Management LP disclosed 38 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $859.5M and a quarterly turnover rate of 112.1%.
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Personality snowflake
- Concentration
- 13.2
- Portfolio Stability
- 100
- Momentum/Contrarian
- 0
- Sector conviction
- 89.88
- Diversification
- 76
- Sizing Uniformity
- 94.89
Benchstone Capital Management LP's disclosed holdings carry a Herfindahl concentration index of 0.033 — mathematically equivalent to about 30 equally-sized positions, close to its 38 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 0.51), 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.
Recent moves
Add ECHO
+130.6% $27.2M
Trim META
-70.3% -$31.6M
Add AVGO
+156.5% $25.8M
Add SPOT
+313.3% $25.3M
Trim AMZN
-50.5% -$26.3M
Trim ONTO
-89.2% -$20.2M
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 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 5.65% | — | -1.78% | |
| 2 | AVGO | Broadcom INC | Stock-Tech | 5.32% | +3.17% | +156.55% | |
| 3 | ECHO | Echostar Corp-a | Stock-Comm Services | 5.30% | +3.33% | +130.64% | |
| 4 | FWONK | Liberty Media Corp-formula-c | Stock-Comm Services | 4.40% | — | +8.24% | |
| 5 | SPOT | Spotify Technology S.A. | Stock-Comm Services | 4.14% | +3.03% | +313.26% | |
| 6 | H | Hyatt Hotels CORP - Cl A | Stock-Consumer Disc | 4.07% | +2.05% | +108.09% | |
| 7 | EQIX | Equinix INC | Stock-Real Estate | 3.91% | +1.94% | +43.65% | |
| 8 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.87% | +3.87% | NEW | |
| 9 | ADI | Analog Devices INC | Stock-Tech | 3.87% | +3.87% | NEW | |
| 10 | BURL | Burlington Stores INC | Stock-Consumer Disc | 3.68% | — | +14.43% | |
| 11 | ASML | ASML Holding N.V. | Stock-Tech | 3.46% | — | +14.33% | |
| 12 | AMAT | Applied Materials INC | Stock-Tech | 3.44% | +2.06% | +73.14% | |
| 13 | SNPS | Synopsys INC | Stock-Tech | 3.36% | -1.36% | -22.08% | |
| 14 | AKAM | Akamai Technologies INC | Stock-Tech | 2.94% | +2.94% | NEW | |
| 15 | LYV | Live Nation Entertainment In | Stock-Comm Services | 2.91% | — | -22.76% | |
| 16 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 2.70% | +1.45% | +155.32% | |
| 17 | TGT | Target CORP | Stock-Consumer Disc | 2.65% | +2.65% | NEW | |
| 18 | WH | Wyndham Hotels & Resorts INC | Stock-Consumer Disc | 2.53% | +2.53% | NEW | |
| 19 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.47% | -2.65% | -50.54% | |
| 20 | ROKU | Roku INC | Stock-Comm Services | 2.45% | +2.45% | NEW | |
| 21 | ROST | Ross Stores INC | Stock-Consumer Disc | 2.15% | — | +52.64% | |
| 22 | ZM | Zoom Communications INC | Stock-Tech | 2.13% | +2.13% | NEW | |
| 23 | CSCO | Cisco Systems INC | Stock-Tech | 2.05% | +2.05% | NEW | |
| 24 | NET | Cloudflare INC - Class A | Stock-Tech | 1.96% | +1.96% | NEW | |
| 25 | DASH | Doordash INC - A | Stock-Consumer Disc | 1.87% | -1.00% | -9.09% | |
| 26 | OUT | Outfront Media INC | Stock-Other | 1.82% | +1.82% | NEW | |
| 27 | DDOG | Datadog INC - Class A | Stock-Tech | 1.80% | +1.80% | NEW | |
| 28 | WMT | Walmart INC | Stock-Consumer Staples | 1.76% | +1.76% | NEW | |
| 29 | TJX | Tjx Companies INC | Stock-Consumer Disc | 1.75% | +1.75% | NEW | |
| 30 | TMUS | T-mobile US INC | Stock-Comm Services | 1.69% | +1.69% | NEW | |
| 31 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.27% | -3.31% | -70.35% | |
| 32 | CMG | Chipotle Mexican Grill INC | Stock-Consumer Disc | 1.21% | -1.02% | -42.01% | |
| 33 | HD | Home Depot INC | Stock-Consumer Disc | 1.17% | -1.66% | -60.05% | |
| 34 | TTWO | Take-two Interactive Softwre | Stock-Comm Services | 1.15% | -2.07% | -57.00% | |
| 35 | FIX | Comfort Systems USA INC | Stock-Industrials | 1.12% | — | — | |
| 36 | HPE | Hewlett Packard Enterprise | Stock-Tech | 1.06% | — | -30.23% | |
| 37 | INTU | Intuit INC | Stock-Tech | 0.53% | — | — | |
| 38 | ONTO | Onto Innovation INC | Stock-Tech | 0.38% | -2.15% | -89.18% |
Portfolio Performance
Performance for Q3 2026
+2.8%
Performance Last 4 Quarters
-1.2%
Based on 85% of reported portfolio value with available pricing
- Stdev
- +18.5%
- Beta
- +1.2
- Alpha
- -19.9%
- Max Drawdown
- -15.4%
- Annualized Perf
- +0.2%
- Batting Avg vs S&P
- +29.4%
- Sortino
- +0.16
- Stutzer
- +0.03
- Treynor
- +0.02
- Sterling
- +0.01
- Calmar
- +0.01
- Information Ratio
- -1.88
- Tracking Error
- +8.7%
- Stdev Down
- +11.3%
- Winning Months %
- +47.1%
- Losing Months %
- +52.9%
- Best 12 Months
- +7.4%
- Worst 12 Months
- -8.6%
- Efficiency Ratio
- +0.01
- Sharpe
- +0.1
- Stdev Sectors
- +14.9%
- Skewness
- +0.63
- Kurtosis
- +0.87
- Upside Potential
- +2.04
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Benchstone Capital Management LP's most significant position changes for 2026-03-31: New buy: Alphabet Inc-cl A (GOOGL); New buy: Analog Devices INC (ADI); Sold out: Lumen Technologies INC (LUMN); Sold out: Shopify INC - Class A (SHOP); New buy: Akamai Technologies INC (AKAM).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ECHO | Echostar Corp-a | +3.3% | +130.64% | Add |
| 2 | AVGO | Broadcom INC | +3.2% | +156.55% | Add |
| 3 | SPOT | Spotify Technology S.A. | +3% | +313.26% | Add |
| 4 | AMAT | Applied Materials INC | +2.1% | +73.14% | Add |
| 5 | H | Hyatt Hotels CORP - Cl A | +2.1% | +108.09% | Add |
| 6 | EQIX | Equinix INC | +1.9% | +43.65% | Add |
| 7 | BKNG | Booking Holdings INC | +1.5% | +155.32% | Add |
| 8 | DASH | Doordash INC - A | -1% | -9.09% | Trim |
| 9 | CMG | Chipotle Mexican Grill INC | -1% | -42.01% | Trim |
| 10 | SNPS | Synopsys INC | -1.4% | -22.08% | Trim |
| 11 | HD | Home Depot INC | -1.7% | -60.05% | Trim |
| 12 | TTWO | Take-two Interactive Softwre | -2.1% | -57.00% | Trim |
| 13 | ONTO | Onto Innovation INC | -2.2% | -89.18% | Trim |
| 14 | AMZN | Amazon.com INC | -2.7% | -50.54% | Trim |
| 15 | META | Meta Platforms Inc-class A | -3.3% | -70.35% | Trim |
| 16 | GOOGL | Alphabet Inc-cl A | — | NEW | New buy |
| 17 | ADI | Analog Devices INC | — | NEW | New buy |
| 18 | LUMN | Lumen Technologies INC | — | EXIT | Sold out |
| 19 | SHOP | Shopify INC - Class A | — | EXIT | Sold out |
| 20 | AKAM | Akamai Technologies INC | — | NEW | New buy |
| 21 | CRM | Salesforce INC | — | EXIT | Sold out |
| 22 | W | Wayfair Inc- Class A | — | EXIT | Sold out |
| 23 | TGT | Target CORP | — | NEW | New buy |
| 24 | DIS | Walt Disney Co/the | — | EXIT | Sold out |
| 25 | WH | Wyndham Hotels & Resorts INC | — | NEW | New buy |
| 26 | MDB | Mongodb INC | — | EXIT | Sold out |
| 27 | NOW | Servicenow INC | — | EXIT | Sold out |
| 28 | ROKU | Roku INC | — | NEW | New buy |
| 29 | ORCL | Oracle CORP | — | EXIT | Sold out |
| 30 | ZM | Zoom Communications INC | — | NEW | New buy |
| 31 | ANET | Arista Networks INC | — | EXIT | Sold out |
| 32 | CSCO | Cisco Systems INC | — | NEW | New buy |
| 33 | NET | Cloudflare INC - Class A | — | NEW | New buy |
| 34 | TXN | Texas Instruments INC | — | EXIT | Sold out |
| 35 | OUT | Outfront Media INC | — | NEW | New buy |
| 36 | DDOG | Datadog INC - Class A | — | NEW | New buy |
| 37 | UBER | Uber Technologies INC | — | EXIT | Sold out |
| 38 | WMT | Walmart INC | — | NEW | New buy |
| 39 | TJX | Tjx Companies INC | — | NEW | New buy |
| 40 | RRR | Red Rock Resorts Inc-class A | — | EXIT | Sold out |
| 41 | BYD | Boyd Gaming CORP | — | EXIT | Sold out |
| 42 | TMUS | T-mobile US INC | — | NEW | New buy |
| 43 | PSKY | Paramount Skydance Cl B | — | EXIT | Sold out |
| 44 | SNOW | Snowflake INC | — | EXIT | Sold out |
| 45 | RCL | Royal Caribbean Cruises Ltd. | — | EXIT | Sold out |
| 46 | TSEM | Tower Semiconductor Ltd. | — | EXIT | Sold out |
| 47 | CMCSA | Comcast Corp-class A | — | EXIT | Sold out |
| 48 | TEAM | Atlassian Corp-cl A | — | EXIT | Sold out |
| 49 | ON | On Semiconductor | — | EXIT | Sold out |
| 50 | CHDN | Churchill Downs INC | — | EXIT | Sold out |
Filing History
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
FAQ
What is Benchstone Capital Management LP and what type of investor is it?
Benchstone Capital Management LP is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $859.5M, spread across 38 disclosed positions.
What are Benchstone Capital Management LP's largest equity positions?
Based on the latest 13F filing, Benchstone Capital Management LP's top holdings by market value are:
1. Taiwan Semiconductor-sp Adr (TSM) — $48.5M (5.7%)
2. Broadcom INC (AVGO) — $45.7M (5.3%)
3. Echostar Corp-a (ECHO) — $45.5M (5.3%)
4. Liberty Media Corp-formula-c (FWONK) — $37.8M (4.4%)
5. Spotify Technology S.A. (SPOT) — $35.6M (4.1%)
What changes did Benchstone Capital Management LP make in its most recent portfolio filing?
In the latest reported quarter, Benchstone Capital Management LP made 50 notable position adjustments: 14 new positions were initiated, 7 existing holdings were added to, 8 positions were partially reduced, and 21 were completely exited. The largest of these moves: New buy: Alphabet Inc-cl A (GOOGL); New buy: Analog Devices INC (ADI); Sold out: Lumen Technologies INC (LUMN); Sold out: Shopify INC - Class A (SHOP); New buy: Akamai Technologies INC (AKAM)
What sectors does Benchstone Capital Management LP focus on?
Benchstone Capital Management LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 38.6%
• Communication Services: 27.7%
• Consumer Discretionary: 26.7%
• Real Estate: 4.0%
• Consumer Staples: 1.8%
• Industrials: 1.1%
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