FG
Franchise GP Ltd Quarterly 13F Portfolio Update (Q3 2026)
Franchise GP LtdCIK: 0002083646
Sector-focusedContrarianDiversified strategy
Total reported value
$235.6M
Reporting period: 2026-09-30 · Number of holdings: 42
Franchise GP Ltd disclosed 42 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $235.6M and a quarterly turnover rate of 59.5%.
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Personality snowflake
- Concentration
- 25.86
- Portfolio Stability
- 59.49
- Momentum
- 0
- Sector conviction
- 100
- Diversification
- 84
- Sizing Uniformity
- 86.74
Franchise GP Ltd's disclosed holdings carry a Herfindahl concentration index of 0.065 — mathematically equivalent to about 15 equally-sized positions, well below its 42 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.33), with a handful of outsized bets alongside many smaller positions.
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.govNew buy TMV
New buy PBR
Trim PDD
-30.3% -$10.9M
Add LITE
+201.7% $9.5M
Trim TSM
-26.3% -$6.2M
Sold out NBIS
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 | PDD | Pdd Holdings Inc | Stock-Consumer Disc | 11.48% | -6.16% | -30.32% | |
| 2 | TMV | Dir Da 20+yr Tre Be 3x Etf-u | ETF-Other | 10.17% | +10.17% | NEW | |
| 3 | PBR | Petroleo Brasileiro-spon Adr | Stock-Energy | 7.49% | +7.49% | NEW | |
| 4 | NVDA | Nvidia CORP | Stock-Tech | 7.24% | -1.93% | -24.27% | |
| 5 | AMD | Advanced Micro Devices | Stock-Tech | 7.02% | -3.07% | -27.64% | |
| 6 | MU | Micron Technology Inc | Stock-Tech | 6.42% | -0.76% | +6.13% | |
| 7 | YB | Yuanbao Inc -adr | Stock-Other | 6.41% | -2.19% | — | |
| 8 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 6.28% | -3.49% | -26.29% | |
| 9 | LITE | Lumentum Holdings Inc | Stock-Tech | 5.72% | +3.89% | +201.74% | |
| 10 | SNDK | Sandisk CORP | Stock-Tech | 5.59% | -2.35% | +0.66% | |
| 11 | IBIT | Ishares Bitcoin Trust ETF | ETF-Crypto | 4.65% | +0.78% | -7.43% | |
| 12 | AVGO | Broadcom Inc | Stock-Tech | 3.43% | -2.71% | -34.25% | |
| 13 | LRCX | Lam Research CORP | Stock-Tech | 3.06% | +0.11% | +49.86% | |
| 14 | USO | United States Oil Fund LP | ETF-Other | 2.53% | +2.53% | NEW | |
| 15 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 2.40% | +2.40% | NEW | |
| 16 | TER | Teradyne Inc | Stock-Tech | 1.81% | +0.69% | +113.20% | |
| 17 | STX | Seagate Technology Holdings plc | Stock-Tech | 1.78% | -0.48% | -9.34% | |
| 18 | FUTU | Futu Holdings Ltd-adr | Stock-Financials | 1.71% | +1.71% | NEW | |
| 19 | WDC | Western Digital CORP | Stock-Tech | 1.26% | -1.92% | -39.12% | |
| 20 | ASML | ASML Holding N.V. | Stock-Tech | 1.22% | +1.22% | NEW | |
| 21 | APH | Amphenol Corp-cl A | Stock-Tech | 0.60% | +0.60% | NEW | |
| 22 | AMAT | Applied Materials Inc | Stock-Tech | 0.18% | -0.11% | — | |
| 23 | ARM | Arm Holdings Plc-adr | Stock-Tech | 0.15% | -0.06% | — | |
| 24 | ETHA | Ishares Ethereum Trust ETF | ETF-Other | 0.14% | +0.05% | — | |
| 25 | EQIX | Equinix Inc | Stock-Real Estate | 0.11% | +0.07% | +225.00% | |
| 26 | VTR | Ventas Inc | Stock-Real Estate | 0.11% | -0.04% | -16.28% | |
| 27 | WELL | Welltower Inc | Stock-Real Estate | 0.11% | — | +8.81% | |
| 28 | BMNR | Bitmine Immersion Technologi | Stock-Financials | 0.10% | +0.04% | — | |
| 29 | PHM | Pultegroup Inc | Stock-Consumer Disc | 0.10% | -0.02% | — | |
| 30 | IRM | Iron Mountain Inc | Stock-Real Estate | 0.09% | +0.04% | +147.24% | |
| 31 | DHI | Dr Horton Inc | Stock-Consumer Disc | 0.09% | +0.01% | +46.43% | |
| 32 | CTRE | Caretrust Reit Inc | Stock-Real Estate | 0.08% | -0.03% | -6.06% | |
| 33 | AHR | American Healthcare Reit Inc | Stock-Real Estate | 0.08% | -0.04% | -25.59% | |
| 34 | DLR | Digital Realty Trust Inc | Stock-Real Estate | 0.08% | — | +11.94% | |
| 35 | GDS | Gds Holdings LTD - Adr | Stock-Other | 0.06% | — | — | |
| 36 | NOK | Nokia Corp-spon Adr | Stock-Tech | 0.06% | -0.02% | — | |
| 37 | COLD | Americold Realty Trust Inc | Stock-Real Estate | 0.05% | -0.01% | -6.87% | |
| 38 | AMT | American Tower CORP | Stock-Real Estate | 0.04% | +0.04% | NEW | |
| 39 | CRCL | Circle Internet Group Inc | Stock-Financials | 0.03% | — | — | |
| 40 | MAA | Mid-america Apartment Comm | Stock-Real Estate | 0.03% | +0.03% | NEW | |
| 41 | VICI | Vici Properties Inc | Stock-Real Estate | 0.02% | -0.01% | — | |
| 42 | HST | Host Hotels & Resorts Inc | Stock-Real Estate | — | -0.06% | -91.47% |
Portfolio Performance
Performance for Q4 2026
+7%
Performance Last 4 Quarters
-3.8%
- Stdev
- +24.5%
- Beta
- +0.87
- Alpha
- -20.7%
- Max Drawdown
- -13.7%
- Annualized Perf
- -5.6%
- Batting Avg vs S&P
- +37.5%
- Sortino
- -0.21
- Stutzer
- -0.04
- Treynor
- -0.04
- Sterling
- —
- Calmar
- -0.41
- Information Ratio
- -1.15
- Tracking Error
- +20.2%
- Stdev Down
- +15%
- Winning Months %
- +37.5%
- Losing Months %
- +62.5%
- Best 12 Months
- —
- Worst 12 Months
- —
- Efficiency Ratio
- +0.08
- Sharpe
- -0.13
- Stdev Sectors
- +26.2%
- Skewness
- +0.48
- Kurtosis
- -1.39
- Upside Potential
- +2.34
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Franchise GP Ltd's most significant position changes for 2026-09-30: New buy: Dir Da 20+yr Tre Be 3x Etf-u (TMV); New buy: Petroleo Brasileiro-spon Adr (PBR); Sold out: Nebius Group N.V. (NBIS); New buy: United States Oil Fund LP (USO); New buy: Palantir Technologies Inc-a (PLTR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TMV | Dir Da 20+yr Tre Be 3x Etf-u | +10.2% | NEW | New buy |
| 2 | PBR | Petroleo Brasileiro-spon Adr | +7.5% | NEW | New buy |
| 3 | LITE | Lumentum Holdings Inc | +3.9% | +201.74% | Add |
| 4 | USO | United States Oil Fund LP | +2.5% | NEW | New buy |
| 5 | PLTR | Palantir Technologies Inc-a | +2.4% | NEW | New buy |
| 6 | FUTU | Futu Holdings Ltd-adr | +1.7% | NEW | New buy |
| 7 | ASML | ASML Holding N.V. | +1.2% | NEW | New buy |
| 8 | IBIT | Ishares Bitcoin Trust ETF | +0.8% | -7.43% | Trim |
| 9 | TER | Teradyne Inc | +0.7% | +113.20% | Add |
| 10 | APH | Amphenol Corp-cl A | +0.6% | NEW | New buy |
| 11 | LRCX | Lam Research CORP | +0.1% | +49.86% | Add |
| 12 | EQIX | Equinix Inc | +0.1% | +225.00% | Add |
| 13 | ETHA | Ishares Ethereum Trust ETF | +0.1% | — | Unchanged |
| 14 | BMNR | Bitmine Immersion Technologi | 0% | — | Unchanged |
| 15 | IRM | Iron Mountain Inc | 0% | +147.24% | Add |
| 16 | AMT | American Tower CORP | 0% | NEW | New buy |
| 17 | MAA | Mid-america Apartment Comm | 0% | NEW | New buy |
| 18 | DHI | Dr Horton Inc | 0% | +46.43% | Add |
| 19 | WELL | Welltower Inc | — | +8.81% | Add |
| 20 | CRCL | Circle Internet Group Inc | — | — | Unchanged |
| 21 | DLR | Digital Realty Trust Inc | — | +11.94% | Add |
| 22 | GDS | Gds Holdings LTD - Adr | — | — | Unchanged |
| 23 | COLD | Americold Realty Trust Inc | 0% | -6.87% | Trim |
| 24 | VICI | Vici Properties Inc | 0% | — | Unchanged |
| 25 | PHM | Pultegroup Inc | 0% | — | Unchanged |
| 26 | NOK | Nokia Corp-spon Adr | 0% | — | Unchanged |
| 27 | BEKE | Ke Holdings Inc-adr | 0% | EXIT | Sold out |
| 28 | CTRE | Caretrust Reit Inc | 0% | -6.06% | Trim |
| 29 | AHR | American Healthcare Reit Inc | 0% | -25.59% | Trim |
| 30 | VTR | Ventas Inc | 0% | -16.28% | Trim |
| 31 | HST | Host Hotels & Resorts Inc | -0.1% | -91.47% | Trim |
| 32 | ARM | Arm Holdings Plc-adr | -0.1% | — | Unchanged |
| 33 | AMAT | Applied Materials Inc | -0.1% | — | Unchanged |
| 34 | SNOW | Snowflake Inc | -0.4% | EXIT | Sold out |
| 35 | STX | Seagate Technology Holdings plc | -0.5% | -9.34% | Trim |
| 36 | MU | Micron Technology Inc | -0.8% | +6.13% | Add |
| 37 | ADI | Analog Devices Inc | -0.9% | EXIT | Sold out |
| 38 | LSCC | Lattice Semiconductor CORP | -0.9% | EXIT | Sold out |
| 39 | DELL | Dell Technologies -c | -1% | EXIT | Sold out |
| 40 | WDC | Western Digital CORP | -1.9% | -39.12% | Trim |
| 41 | NVDA | Nvidia CORP | -1.9% | -24.27% | Trim |
| 42 | YB | Yuanbao Inc -adr | -2.2% | — | Unchanged |
| 43 | SNDK | Sandisk CORP | -2.4% | +0.66% | Add |
| 44 | AVGO | Broadcom Inc | -2.7% | -34.25% | Trim |
| 45 | AMD | Advanced Micro Devices | -3.1% | -27.64% | Trim |
| 46 | NBIS | Nebius Group N.V. | -3.3% | EXIT | Sold out |
| 47 | TSM | Taiwan Semiconductor-sp Adr | -3.5% | -26.29% | Trim |
| 48 | PDD | Pdd Holdings Inc | -6.2% | -30.32% | Trim |
Filing History
FAQ
What is Franchise GP Ltd and what type of investor is it?
Franchise GP Ltd 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 (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $235.6M, spread across 42 disclosed positions.
What are Franchise GP Ltd's largest equity positions?
Based on the latest 13F filing, Franchise GP Ltd's top holdings by market value are:
1. Pdd Holdings Inc (PDD) — $27.0M (11.5%)
2. Dir Da 20+yr Tre Be 3x Etf-u (TMV) — $24.0M (10.2%)
3. Petroleo Brasileiro-spon Adr (PBR) — $17.7M (7.5%)
4. Nvidia CORP (NVDA) — $17.1M (7.2%)
5. Advanced Micro Devices (AMD) — $16.5M (7.0%)
What changes did Franchise GP Ltd make in its most recent portfolio filing?
In the latest reported quarter, Franchise GP Ltd made 38 notable position adjustments: 9 new positions were initiated, 10 existing holdings were added to, 13 positions were partially reduced, and 6 were completely exited. The largest of these moves: New buy: Dir Da 20+yr Tre Be 3x Etf-u (TMV); New buy: Petroleo Brasileiro-spon Adr (PBR); Sold out: Nebius Group N.V. (NBIS); New buy: United States Oil Fund LP (USO); New buy: Palantir Technologies Inc-a (PLTR)
What sectors does Franchise GP Ltd focus on?
Franchise GP Ltd is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 71.3%
• Consumer Discretionary: 15.3%
• Energy: 9.9%
• Financials: 2.4%
• Real Estate: 1.1%
Investment Profile
Franchise GP Ltd returned an annualized -5.6% over the trailing 8 months — underperforming the S&P 500 by 20.7 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.87 (less volatile than the market) and a 38% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading, with 71.3% of the portfolio concentrated in Information Technology.
Its concentration score has fallen from 100 to 26 over the past 3 quarters — a shift toward broader diversification.
It has added to its IBIT position over the past two quarters (+$10.8M, now $11.0M), while trimming NVDA over the same stretch (-$39.9M, still holding $17.1M).
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