CIK: 0002107464
Total reported value
$145.2M
Reporting period: 2026-03-31 · Number of holdings: 90
Gambit Capital Management, LLC disclosed 90 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $145.2M and a quarterly turnover rate of 37.1%.
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Gambit Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.055 — mathematically equivalent to about 18 equally-sized positions, well below its 90 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 1.99), 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.
Sector classification currently covers about 31% 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.
Trim LLY
+5.8% -$2.6M
Trim VOO
-12.3% -$2.3M
Add SPYM
+43.2% $2.9M
Trim JAAA
-84.0% -$2.4M
Add SPDW
+99.2% $2.1M
Trim SPMD
-75.2% -$1.8M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | LLY | Eli Lilly & Co | Stock-Healthcare | 16.47% | -2.52% | +5.79% | |
| 2 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 8.15% | -1.98% | -12.29% | |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 7.92% | -1.02% | -2.47% | |
| 4 | SPYM | Ste Str Spdr Pt S&p 500 ETF | ETF-Large Cap & Growth | 7.44% | +1.79% | +43.23% | |
| 5 | SCHX | Schwab US Large-cap ETF | ETF-Other | 3.99% | -0.49% | -3.06% | |
| 6 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 3.58% | +3.58% | NEW | |
| 7 | QUAL | Ishares Msci USA Quality Fac | ETF-Other | 2.87% | -0.62% | -11.49% | |
| 8 | SPDW | Ste Str Spdr Pt Dw EU ETF | ETF-Other | 2.79% | +1.37% | +99.20% | |
| 9 | EFA | Ishares Msci Eafe ETF | ETF-Other | 2.69% | +0.88% | +53.08% | |
| 10 | ✓ | Eli Lilly & Co | Stock-Other | 1.90% | +1.90% | NEW | |
| 11 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-Gov Bonds | 1.70% | +1.70% | NEW | |
| 12 | AAPL | Apple INC | Stock-Tech | 1.62% | -0.25% | -3.71% | |
| 13 | ✓ | Spdr S&p 500 ETF Tr | ETF-Large Cap & Growth | 1.48% | +1.48% | NEW | |
| 14 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.43% | — | -1.85% | |
| 15 | SPAB | Ss Spdr P Agg Bond ETF | ETF-Other | 1.26% | — | +7.16% | |
| 16 | SPSM | Ss Spdr P S&p 600 Small Cap | ETF-Small Cap | 1.26% | -0.28% | -17.13% | |
| 17 | SCHF | Schwab Intl Equity ETF | ETF-Other | 1.25% | +0.34% | +38.13% | |
| 18 | MSFT | Microsoft CORP | Stock-Tech | 1.19% | -0.42% | +0.26% | |
| 19 | SCHO | Schwab Short-term US Treas | ETF-Other | 1.15% | +1.15% | NEW | |
| 20 | BSCR | Invesco Bulletshares 2027 Cb | ETF-Other | 1.14% | +0.08% | +13.09% | |
| 21 | ETHA | Ishares Ethereum Trust ETF | ETF-Other | 1.11% | +1.11% | NEW | |
| 22 | BSCQ | Invesco Bulletshares 2026 Cb | ETF-Other | 1.09% | -0.27% | -16.17% | |
| 23 | SCHZ | Schwab US Aggregate Bond ETF | ETF-Other | 1.02% | — | -3.51% | |
| 24 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 0.89% | -0.61% | -38.92% | |
| 25 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.87% | — | +18.26% | |
| 26 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.86% | -0.18% | -6.61% | |
| 27 | NVDA | Nvidia CORP | Stock-Tech | 0.86% | — | -4.61% | |
| 28 | GLDM | Spdr Gold Minishares Trust | ETF-Commodities | 0.85% | — | -0.67% | |
| 29 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.75% | — | -2.30% | |
| 30 | BSCS | Invesco Bulletshares 2028 Cb | ETF-Other | 0.72% | +0.30% | +80.73% | |
| 31 | BND | Vanguard Total Bond Market | ETF-Other | 0.66% | +0.66% | NEW | |
| 32 | PINK | Simplify Health Care ETF | ETF-Other | 0.66% | — | +13.01% | |
| 33 | APG | Api Group CORP | Stock-Industrials | 0.64% | — | -6.16% | |
| 34 | MDY | State Street Spdr S&p Midcap | ETF-Other | 0.63% | -0.75% | -53.51% | |
| 35 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 0.63% | — | +9.87% | |
| 36 | DFUS | Dimensional US Eq Mkt ETF | ETF-Other | 0.59% | — | -0.05% | |
| 37 | SPY | State Street SPDR S&P 500 ETF Trust | ETF-Large Cap & Growth | 0.58% | +0.58% | NEW | |
| 38 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.55% | +0.33% | +164.61% | |
| 39 | DGRW | Wisdomtree U.s. Quality Divi | ETF-Other | 0.52% | — | -9.36% | |
| 40 | TIP | Ishares Tips Bond ETF | ETF-Other | 0.49% | +0.49% | NEW | |
| 41 | FNDF | Schwab Fndmn Intl Lrg Co ETF | ETF-Other | 0.48% | +0.18% | +56.72% | |
| 42 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.46% | — | -5.87% | |
| 43 | VUG | Vanguard Growth ETF | ETF-Other | 0.46% | — | -0.39% | |
| 44 | SPMD | Ss Spdr P S&p 400 Midcap ETF | ETF-Other | 0.42% | -1.31% | -75.21% | |
| 45 | VBIL | Vanguard 0-3m T-bill ETF | ETF-Other | 0.42% | +0.42% | NEW | |
| 46 | MINT | Pimco Enhanced Short Maturit | ETF-Other | 0.42% | — | -3.10% | |
| 47 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.39% | -0.16% | -14.04% | |
| 48 | SCHW | Schwab (charles) CORP | Stock-Financials | 0.38% | — | +0.22% | |
| 49 | ABBV | Abbvie INC | Stock-Healthcare | 0.38% | — | -2.50% | |
| 50 | XLK | Ss Technology Select Sector | ETF-Tech | 0.38% | — | +0.64% |
Performance for Q3 2026
+2.9%
Performance Last 4 Quarters
+7.1%
Based on 5 months of available history
Based on 67% of reported portfolio value with available pricing
Gambit Capital Management, LLC's most significant position changes for 2026-03-31: New buy: Invesco S&p 500 Equal Weight (RSP); New buy: Eli Lilly & Co; New buy: Ss Spdr Bb 1-3m T-bill ETF (BIL); New buy: Spdr S&p 500 ETF Tr; New buy: Schwab Short-term US Treas (SCHO).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPYM | Ste Str Spdr Pt S&p 500 ETF | +1.8% | +43.23% | Add |
| 2 | SPDW | Ste Str Spdr Pt Dw EU ETF | +1.4% | +99.20% | Add |
| 3 | EFA | Ishares Msci Eafe ETF | +0.9% | +53.08% | Add |
| 4 | SCHF | Schwab Intl Equity ETF | +0.3% | +38.13% | Add |
| 5 | VTI | Vanguard Total Stock Mkt ETF | +0.3% | +164.61% | Add |
| 6 | BSCS | Invesco Bulletshares 2028 Cb | +0.3% | +80.73% | Add |
| 7 | FNDF | Schwab Fndmn Intl Lrg Co ETF | +0.2% | +56.72% | Add |
| 8 | BSCR | Invesco Bulletshares 2027 Cb | +0.1% | +13.09% | Add |
| 9 | META | Meta Platforms Inc-class A | -0.2% | -14.04% | Trim |
| 10 | MUB | Ishares National Muni Bond E | -0.2% | -38.51% | Trim |
| 11 | AVUV | Avantis US Small Cap Value | -0.2% | -34.42% | Trim |
| 12 | GOOGL | Alphabet Inc-cl A | -0.2% | -6.61% | Trim |
| 13 | AAPL | Apple INC | -0.3% | -3.71% | Trim |
| 14 | SCHA | Schwab US Small-cap ETF | -0.3% | -42.94% | Trim |
| 15 | BSCQ | Invesco Bulletshares 2026 Cb | -0.3% | -16.17% | Trim |
| 16 | SPSM | Ss Spdr P S&p 600 Small Cap | -0.3% | -17.13% | Trim |
| 17 | MSFT | Microsoft CORP | -0.4% | +0.26% | Add |
| 18 | SCHX | Schwab US Large-cap ETF | -0.5% | -3.06% | Trim |
| 19 | SCHM | Schwab US Mid Cap ETF | -0.6% | -79.56% | Trim |
| 20 | IWM | Ishares Russell 2000 ETF | -0.6% | -38.92% | Trim |
| 21 | QUAL | Ishares Msci USA Quality Fac | -0.6% | -11.49% | Trim |
| 22 | IEI | Ishares 3-7 Year Treasury Bo | -0.7% | -75.34% | Trim |
| 23 | MDY | State Street Spdr S&p Midcap | -0.8% | -53.51% | Trim |
| 24 | SPY | Ss Spdr S&p 500 ETF Trust-us | -1% | -2.47% | Trim |
| 25 | SPMD | Ss Spdr P S&p 400 Midcap ETF | -1.3% | -75.21% | Trim |
| 26 | JAAA | Janus Henderson Aaa Clo ETF | -1.7% | -84.00% | Trim |
| 27 | VOO | Vanguard S&p 500 ETF | -2% | -12.29% | Trim |
| 28 | LLY | Eli Lilly & Co | -2.5% | +5.79% | Add |
| 29 | RSP | Invesco S&p 500 Equal Weight | — | NEW | New buy |
| 30 | ✓ | Eli Lilly & Co | — | NEW | New buy |
| 31 | BIL | Ss Spdr Bb 1-3m T-bill ETF | — | NEW | New buy |
| 32 | ✓ | Spdr S&p 500 ETF Tr | — | NEW | New buy |
| 33 | SCHO | Schwab Short-term US Treas | — | NEW | New buy |
| 34 | ETHA | Ishares Ethereum Trust ETF | — | NEW | New buy |
| 35 | FBTC | Fidelity Wise Origin Bitcoin | — | EXIT | Sold out |
| 36 | BND | Vanguard Total Bond Market | — | NEW | New buy |
| 37 | DGRO | Ishares Core Dividend Growth | — | EXIT | Sold out |
| 38 | SPY | State Street SPDR S&P 500 ETF Trust | — | NEW | New buy |
| 39 | TIP | Ishares Tips Bond ETF | — | NEW | New buy |
| 40 | VBIL | Vanguard 0-3m T-bill ETF | — | NEW | New buy |
| 41 | SPHY | Ss Spdr P High Yield ETF | — | EXIT | Sold out |
| 42 | SCHP | Schwab U.s. Tips ETF | — | NEW | New buy |
| 43 | DIA | Ss Spdr Dow Jones Indus Avg | — | EXIT | Sold out |
| 44 | SPTM | Ss Spdr P S&p 1500 Comp ETF | — | EXIT | Sold out |
| 45 | AAAU | Goldman Sachs Physical Gold | — | NEW | New buy |
| 46 | NKE | Nike INC -cl B | — | EXIT | Sold out |
| 47 | CAT | Caterpillar INC | — | EXIT | Sold out |
| 48 | XLV | Ss Health Care Select Sector | — | NEW | New buy |
| 49 | TMO | Thermo Fisher Scientific INC | — | EXIT | Sold out |
| 50 | CSCO | Cisco Systems INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-06 | 13F-HR | View on EDGAR |
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