FD
Flight Deck Capital, LP Quarterly 13F Portfolio Update (Q2 2026)
Flight Deck Capital, LPCIK: 0001861705
ContrarianQuality / disciplined sizingSector-focused
Total reported value
$206.0M
Reporting period: 2026-06-30 · Number of holdings: 11
Flight Deck Capital, LP disclosed 11 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $206.0M and a quarterly turnover rate of 54.0%.
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Personality snowflake
- Concentration
- 66.07
- Portfolio Stability
- 54.02
- Momentum
- 0
- Sector conviction
- 83.76
- Diversification
- 22
- Sizing Uniformity
- 90.52
Flight Deck Capital, LP's disclosed holdings carry a Herfindahl concentration index of 0.165 — mathematically equivalent to about 6 equally-sized positions, well below its 11 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 0.95), 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd BE
0.0% $34.3M
Trim AEVA
-96.8% -$9.9M
New buy 15675D103
Trim PONY
0.0% -$2.1M
Trim U
0.0% $9.3M
Trim SE
0.0% $2.5M
Holdings Map
New buyAddUnchangedTrim
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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.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BE | Bloom Energy Corp- A | Stock-Industrials | 30.17% | +9.94% | — | |
| 2 | U | Unity Software Inc | Stock-Tech | 19.43% | -2.91% | — | |
| 3 | NET | Cloudflare Inc - Class A | Stock-Tech | 10.69% | +0.99% | +39.01% | |
| 4 | SE | Sea Ltd-adr | Stock-Comm Services | 8.88% | -2.62% | — | |
| 5 | CVNA | Carvana Co | Stock-Consumer Disc | 6.70% | +0.68% | +696.43% | |
| 6 | ✓ | Stock-Other | 6.67% | +6.67% | NEW | ||
| 7 | HOOD | Robinhood Markets Inc - A | Stock-Financials | 6.48% | -0.22% | — | |
| 8 | MELI | Mercadolibre Inc | Stock-Consumer Disc | 4.59% | -2.41% | — | |
| 9 | TOST | Toast Inc-class A | Stock-Tech | 3.19% | +0.18% | +51.16% | |
| 10 | PONY | Pony Ai Inc | Stock-Other | 2.83% | -2.94% | — | |
| 11 | AEVA | Aeva Technologies Inc | Stock-Other | 0.36% | -7.37% | -96.79% |
Portfolio Performance
Performance for Q3 2026
+2.1%
Performance Last 4 Quarters
+67.9%
- Stdev
- +38.4%
- Beta
- +2.32
- Alpha
- -6.1%
- Max Drawdown
- -15%
- Annualized Perf
- +40.2%
- Batting Avg vs S&P
- +52.8%
- Sortino
- +2.95
- Stutzer
- +0.35
- Treynor
- +0.17
- Sterling
- +1.82
- Calmar
- +2.68
- Information Ratio
- +0.69
- Tracking Error
- +29.4%
- Stdev Down
- +13.7%
- Winning Months %
- +58.3%
- Losing Months %
- +41.7%
- Best 12 Months
- +106.3%
- Worst 12 Months
- +4%
- Efficiency Ratio
- +0.64
- Sharpe
- +1.05
- Stdev Sectors
- +12.6%
- Skewness
- +2.38
- Kurtosis
- +8.97
- Upside Potential
- +4.83
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 11 | $206.0M | 54 | ||
| 2026 Q1 | 10 | $137.5M | 68 | ||
| 2025 Q4 | 11 | $117.3M | 52 | ||
| 2025 Q3 | 13 | $132.1M | 100 | ||
| 2025 Q2 | 14 | $94.5M | 0 | ||
| 2025 Q1 | 14 | $96.9M | 0 | ||
| 2024 Q4 | 12 | $89.9M | 0 | ||
| 2024 Q3 | 13 | $85.5M | 0 | ||
| 2024 Q2 | 12 | $75.6M | 0 | ||
| 2024 Q1 | 11 | $77.4M | 0 | ||
| 2023 Q4 | 15 | $81.8M | 0 | ||
| 2023 Q3 | 13 | $81.9M | 0 | ||
| 2023 Q2 | 14 | $112.7M | 0 | ||
| 2023 Q1 | 15 | $130.1M | 0 | ||
| 2022 Q4 | 16 | $105.0M | 0 | ||
| 2022 Q3 | 18 | $116.5M | 0 | ||
| 2022 Q2 | 19 | $132.9M | 0 | ||
| 2022 Q1 | 18 | $153.8M | 0 | ||
| 2021 Q4 | 17 | $213.1M | 0 |
Holding changes this quarter
Flight Deck Capital, LP's most significant position changes for 2026-06-30: New buy: ; Trim: Aeva Technologies Inc (AEVA) — shares -96.79%; Add: Cloudflare Inc - Class A (NET) — shares +39.01%; Add: Carvana Co (CVNA) — shares +696.43%; Add: Toast Inc-class A (TOST) — shares +51.16%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BE | Bloom Energy Corp- A | +9.9% | — | Unchanged |
| 2 | ✓ | +6.7% | NEW | New buy | |
| 3 | NET | Cloudflare Inc - Class A | +1% | +39.01% | Add |
| 4 | CVNA | Carvana Co | +0.7% | +696.43% | Add |
| 5 | TOST | Toast Inc-class A | +0.2% | +51.16% | Add |
| 6 | HOOD | Robinhood Markets Inc - A | -0.2% | — | Unchanged |
| 7 | MELI | Mercadolibre Inc | -2.4% | — | Unchanged |
| 8 | SE | Sea Ltd-adr | -2.6% | — | Unchanged |
| 9 | U | Unity Software Inc | -2.9% | — | Unchanged |
| 10 | PONY | Pony Ai Inc | -2.9% | — | Unchanged |
| 11 | AEVA | Aeva Technologies Inc | -7.4% | -96.79% | Trim |
Filing History
FAQ
What is Flight Deck Capital, LP and what type of investor is it?
Flight Deck Capital, LP 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 $206.0M, spread across 11 disclosed positions.
What are Flight Deck Capital, LP's largest equity positions?
Based on the latest 13F filing, Flight Deck Capital, LP's top holdings by market value are:
1. Bloom Energy Corp- A (BE) — $62.1M (30.2%)
2. Unity Software Inc (U) — $40.0M (19.4%)
3. Cloudflare Inc - Class A (NET) — $22.0M (10.7%)
4. Sea Ltd-adr (SE) — $18.3M (8.9%)
5. Carvana Co (CVNA) — $13.8M (6.7%)
What changes did Flight Deck Capital, LP make in its most recent portfolio filing?
In the latest reported quarter, Flight Deck Capital, LP made 5 notable position adjustments: 1 new positions were initiated, 3 existing holdings were added to, 1 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: ; Trim: Aeva Technologies Inc (AEVA) — shares -96.79%; Add: Cloudflare Inc - Class A (NET) — shares +39.01%; Add: Carvana Co (CVNA) — shares +696.43%; Add: Toast Inc-class A (TOST) — shares +51.16%
What sectors does Flight Deck Capital, LP focus on?
Flight Deck Capital, LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 37.0%
• Industrials: 33.5%
• Consumer Discretionary: 12.5%
• Communication Services: 9.9%
• Financials: 7.2%
Investment Profile
Flight Deck Capital, LP returned an annualized 40.2% over the trailing 36 months — underperforming the S&P 500 by 6.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 2.32 (more volatile than the market) and a 53% quarterly batting average against the index.
Its portfolio is concentrated and moderately active, with 37.0% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 54 over the past 4 quarters — a shift toward more active trading.
It has added to its BE position over the past two quarters (+$38.6M, now $62.1M), while trimming PONY over the same stretch (-$6.5M, still holding $5.8M).
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Developer Access
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