GF
Gray Foundation — 13F Filing & Top Stock Positions (Q2 2026)
Gray FoundationCIK: 0002011602
Concentrated strategySector-focusedQuality / disciplined sizing
Total reported value
$453.7M
Reporting period: 2026-06-30 · Number of holdings: 9
Gray Foundation disclosed 9 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $453.7M and a quarterly turnover rate of 19.5%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 19.47
- Momentum
- 50
- Sector conviction
- 100
- Diversification
- 18
- Sizing Uniformity
- 84.82
Gray Foundation's disclosed holdings carry a Herfindahl concentration index of 0.339 — mathematically equivalent to about 3 equally-sized positions, well below its 9 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 1.52), 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 67% 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.govAdd IGM
0.0% $25.2M
Trim HLT
0.0% $19.3M
Sold out HGV
Add SOXX
0.0% $10.7M
Sold out AZN
Trim INDA
-9.8% -$980.7K
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 | HLT | Hilton Worldwide Holdings In | Stock-Consumer Disc | 53.29% | -2.79% | — | |
| 2 | IGM | Ishares Expanded Tech Sector | ETF-Tech | 20.16% | +3.46% | — | |
| 3 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 8.72% | +0.62% | — | |
| 4 | SOXX | Ishares Semiconductor ETF | ETF-Other | 4.85% | +2.00% | — | |
| 5 | INDA | Ishares Msci India ETF | ETF-Other | 4.18% | -0.85% | -9.83% | |
| 6 | ROBO | Robo Global Robotics And Aut | ETF-Other | 3.87% | +0.33% | — | |
| 7 | INVH | Invitation Homes Inc | Stock-Real Estate | 2.27% | +0.14% | — | |
| 8 | NBIX | Neurocrine Biosciences Inc | Stock-Healthcare | 1.40% | +0.14% | — | |
| 9 | BA | Boeing Co/the | Stock-Industrials | 1.26% | -0.06% | — |
Portfolio Performance
Performance for Q3 2026
-3.5%
Performance Last 4 Quarters
+23.7%
- Stdev
- +15.7%
- Beta
- +1.12
- Alpha
- -1.4%
- Max Drawdown
- -10.5%
- Annualized Perf
- +19.7%
- Batting Avg vs S&P
- +66.7%
- Sortino
- +2.27
- Stutzer
- +0.36
- Treynor
- +0.17
- Sterling
- +1.12
- Calmar
- +1.89
- Information Ratio
- +0.11
- Tracking Error
- +8%
- Stdev Down
- +8.5%
- Winning Months %
- +70%
- Losing Months %
- +30%
- Best 12 Months
- +47.2%
- Worst 12 Months
- +1.5%
- Efficiency Ratio
- +0.53
- Sharpe
- +1.23
- Stdev Sectors
- +30.1%
- Skewness
- -0.13
- Kurtosis
- +0.92
- Upside Potential
- +3.64
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
💡
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.
Holding changes this quarter
Gray Foundation's most significant position changes for 2026-06-30: Sold out: Hilton Grand Vacations Inc (HGV); Sold out: AstraZeneca PLC (AZN); Trim: Ishares Msci India ETF (INDA) — shares -9.83%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IGM | Ishares Expanded Tech Sector | +3.5% | — | Unchanged |
| 2 | SOXX | Ishares Semiconductor ETF | +2% | — | Unchanged |
| 3 | GOOG | Alphabet Inc-cl C | +0.6% | — | Unchanged |
| 4 | ROBO | Robo Global Robotics And Aut | +0.3% | — | Unchanged |
| 5 | INVH | Invitation Homes Inc | +0.1% | — | Unchanged |
| 6 | NBIX | Neurocrine Biosciences Inc | +0.1% | — | Unchanged |
| 7 | BA | Boeing Co/the | -0.1% | — | Unchanged |
| 8 | INDA | Ishares Msci India ETF | -0.9% | -9.83% | Trim |
| 9 | AZN | AstraZeneca PLC | -0.9% | EXIT | Sold out |
| 10 | HGV | Hilton Grand Vacations Inc | -2.1% | EXIT | Sold out |
| 11 | HLT | Hilton Worldwide Holdings In | -2.8% | — | Unchanged |
Filing History
FAQ
What is Gray Foundation and what type of investor is it?
Gray Foundation 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 $453.7M, spread across 9 disclosed positions.
What are Gray Foundation's largest equity positions?
Based on the latest 13F filing, Gray Foundation's top holdings by market value are:
1. Hilton Worldwide Holdings In (HLT) — $241.8M (53.3%)
2. Ishares Expanded Tech Sector (IGM) — $91.5M (20.2%)
3. Alphabet Inc-cl C (GOOG) — $39.6M (8.7%)
4. Ishares Semiconductor ETF (SOXX) — $22.0M (4.8%)
5. Ishares Msci India ETF (INDA) — $19.0M (4.2%)
What changes did Gray Foundation make in its most recent portfolio filing?
In the latest quarter, Gray Foundation took a more defensive posture — trimming 1 positions and completely exiting 2 holdings. The largest of these moves: Sold out: Hilton Grand Vacations Inc (HGV); Sold out: AstraZeneca PLC (AZN); Trim: Ishares Msci India ETF (INDA) — shares -9.83%
What sectors does Gray Foundation focus on?
Gray Foundation is concentrated in the following sectors based on its current disclosed equity portfolio:
• Consumer Discretionary: 79.6%
• Communication Services: 13.0%
• Real Estate: 3.4%
• Health Care: 2.1%
• Industrials: 1.9%
Investment Profile
Gray Foundation returned an annualized 19.7% over the trailing 30 months — underperforming the S&P 500 by 1.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.12 (more volatile than the market) and a 67% quarterly batting average against the index.
Its portfolio is concentrated and long-term-holding, with 79.6% of the portfolio concentrated in Consumer Discretionary.
Its turnover score has risen from 0 to 19 over the past 4 quarters — a shift toward more active trading.
It has added to its HLT position over the past two quarters (+$31.6M, now $241.8M), while trimming INDA over the same stretch (-$4.1M, still holding $19.0M).
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Developer Access
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