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Jones Road Capital Management, L.p. 13F Disclosure (Q2 2026) — Portfolio & Holdings
Jones Road Capital Management, L.p.CIK: 0001842361
High-turnover traderSector-focusedContrarian
Total reported value
$49.0M
Reporting period: 2026-06-30 · Number of holdings: 25
JONES ROAD CAPITAL MANAGEMENT, L.P. disclosed 25 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $49.0M and a quarterly turnover rate of 143.4%.
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Personality snowflake
- Concentration
- 88.08
- Portfolio Stability
- 100
- Momentum
- 0
- Sector conviction
- 100
- Diversification
- 48
- Sizing Uniformity
- 78.85
Jones Road Capital Management, L.p.'s disclosed holdings carry a Herfindahl concentration index of 0.220 — mathematically equivalent to about 5 equally-sized positions, well below its 25 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 2.11), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward initiating meaningfully larger new positions than it adds to existing ones (a 5.4 percentage-point tilt) — a pattern consistent with a more contrarian, new-idea-driven approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy NEE
Trim NEE 3 03-01-27
-76.2% -$12.0M
Trim BABA 0.5 06-01-31
-78.3% -$5.4M
Trim CRS
-82.2% -$5.3M
New buy AAPL
Sold out BKLN
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 24 holdings (of 25 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NEE | Nextera Energy Inc | Stock-Utilities | 43.84% | +43.84% | NEW | |
| 2 | AAPL | Apple Inc | Stock-Tech | 8.86% | +8.86% | NEW | |
| 3 | NEE 3 03-01-27Bond | Nextera Energy Capital | Bond | 7.12% | -20.90% | -76.21% | |
| 4 | NVDA | Nvidia CORP | Stock-Tech | 6.12% | +6.12% | NEW | |
| 5 | META | Meta Platforms Inc-class A | Stock-Comm Services | 5.97% | -5.01% | -51.01% | |
| 6 | ORCL | Oracle CORP | Stock-Tech | 4.95% | -5.40% | -57.41% | |
| 7 | CRS | Carpenter Technology | Stock-Industrials | 4.15% | -9.04% | -82.16% | |
| 8 | FE | Firstenergy CORP | Stock-Utilities | 2.59% | +2.59% | NEW | |
| 9 | BABA 0.5 06-01-31Bond | Alibaba Group Holding | Bond | 2.48% | -9.41% | -78.28% | |
| 10 | UBER 0.875 12-01-28 2028Bond | Uber Technologies Inc | Bond | 2.44% | +2.44% | NEW | |
| 11 | ✓ | Stock-Other | 2.36% | +2.36% | NEW | ||
| 12 | ATI | Ati Inc | Stock-Industrials | 2.01% | -0.62% | -50.00% | |
| 13 | PCG 4.25 12-01-27Bond | Pg&e CORP | Bond | 1.83% | -2.35% | -60.76% | |
| 14 | ORCL 6.5 01-15-29 DBond | Oracle CORP | Bond | 1.24% | +1.24% | NEW | |
| 15 | DCO | Ducommun Inc | Stock-Other | 1.10% | +1.10% | NEW | |
| 16 | BA 6 10-15-27Bond | Boeing Co/the | Bond | 0.96% | -5.23% | -86.72% | |
| 17 | RTX | Rtx CORP | Stock-Industrials | 0.74% | +0.74% | NEW | |
| 18 | AVB | Avalonbay Communities Inc | Stock-Real Estate | 0.50% | -1.18% | -77.19% | |
| 19 | ✓ | Carnival CORP LTD F | Stock-Other | 0.29% | +0.29% | NEW | |
| 20 | ECHO | Echostar Corp-a | Stock-Comm Services | 0.21% | +0.21% | NEW | |
| 21 | CYH | Community Health Systems Inc | Stock-Other | 0.10% | -0.44% | -86.33% | |
| 22 | MSDL | Morgan Stanley Direct Lendin | Stock-Other | 0.06% | +0.06% | NEW | |
| 23 | GSBD | Goldman Sachs Bdc Inc | Stock-Other | 0.06% | +0.06% | NEW | |
| 24 | NFE | New Fortress Energy Inc | Stock-Other | 0.03% | -0.14% | -70.78% |
Portfolio Performance
Performance for Q3 2026
—
Performance Last 4 Quarters
+11.4%
Based on 50% of reported portfolio value with available pricing
- Stdev
- +21.3%
- Beta
- +1.35
- Alpha
- -10.8%
- Max Drawdown
- -17.2%
- Annualized Perf
- +16.9%
- Batting Avg vs S&P
- +39.4%
- Sortino
- +1.68
- Stutzer
- +0.25
- Treynor
- +0.13
- Sterling
- +0.67
- Calmar
- +0.99
- Information Ratio
- -0.28
- Tracking Error
- +12.2%
- Stdev Down
- +10.7%
- Winning Months %
- +54.5%
- Losing Months %
- +45.5%
- Best 12 Months
- +38.4%
- Worst 12 Months
- -0.5%
- Efficiency Ratio
- +0.33
- Sharpe
- +0.84
- Stdev Sectors
- +19.6%
- Skewness
- +0.43
- Kurtosis
- -0.49
- Upside Potential
- +3.6
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 25 | $49.0M | 100 | ||
| 2026 Q1 | 14 | $55.3M | 100 | ||
| 2025 Q4 | 21 | $154.7M | 93 | ||
| 2025 Q3 | 19 | $169.0M | 91 | ||
| 2025 Q2 | 26 | $236.3M | 0 | ||
| 2025 Q1 | 26 | $160.0M | 100 | ||
| 2024 Q4 | 36 | $205.9M | 0 | ||
| 2024 Q3 | 35 | $319.8M | 0 | ||
| 2024 Q2 | 35 | $211.4M | 0 | ||
| 2024 Q1 | 33 | $133.7M | 0 | ||
| 2023 Q4 | 41 | $393.3M | 0 | ||
| 2023 Q3 | 36 | $114.4M | 0 | ||
| 2023 Q2 | 36 | $143.1M | 0 | ||
| 2023 Q1 | 43 | $138.0M | 0 | ||
| 2022 Q4 | 42 | $111.9M | 0 | ||
| 2022 Q3 | 54 | $144.0M | 0 | ||
| 2022 Q2 | 57 | $190.0M | 0 | ||
| 2022 Q1 | 63 | $220.7M | 0 | ||
| 2021 Q4 | 72 | $462.8M | 0 | ||
| 2021 Q3 | 65 | $302.3M | 0 | ||
| 2021 Q2 | 71 | $297.3M | 75 | ||
| 2021 Q1 | 67 | $276.8M | 68 | ||
| 2020 Q4 | 60 | $248.5M | 0 |
Holding changes this quarter
Jones Road Capital Management, L.p.'s most significant position changes for 2026-06-30: New buy: Nextera Energy Inc (NEE); New buy: Apple Inc (AAPL); Sold out: Invesco Senior Loan ETF (BKLN); New buy: Nvidia CORP (NVDA); New buy: Firstenergy CORP (FE).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | NEE | Nextera Energy Inc | +43.8% | NEW | New buy |
| 2 | AAPL | Apple Inc | +8.9% | NEW | New buy |
| 3 | NVDA | Nvidia CORP | +6.1% | NEW | New buy |
| 4 | FE | Firstenergy CORP | +2.6% | NEW | New buy |
| 5 | UBER 0.875 12-01-28 2028Bond | Uber Technologies Inc | +2.4% | NEW | New buy |
| 6 | ✓ | +2.4% | NEW | New buy | |
| 7 | ORCL 6.5 01-15-29 DBond | Oracle CORP | +1.2% | NEW | New buy |
| 8 | DCO | Ducommun Inc | +1.1% | NEW | New buy |
| 9 | RTX | Rtx CORP | +0.7% | NEW | New buy |
| 10 | ✓ | Carnival CORP LTD F | +0.3% | NEW | New buy |
| 11 | ECHO | Echostar Corp-a | +0.2% | NEW | New buy |
| 12 | MSDL | Morgan Stanley Direct Lendin | +0.1% | NEW | New buy |
| 13 | GSBD | Goldman Sachs Bdc Inc | +0.1% | NEW | New buy |
| 14 | NFE | New Fortress Energy Inc | -0.1% | -70.78% | Trim |
| 15 | CYH | Community Health Systems Inc | -0.4% | -86.33% | Trim |
| 16 | ATI | Ati Inc | -0.6% | -50.00% | Trim |
| 17 | MSFT | Microsoft CORP | -1.1% | EXIT | Sold out |
| 18 | AVB | Avalonbay Communities Inc | -1.2% | -77.19% | Trim |
| 19 | VISN | Vistance Networks Inc | -1.7% | EXIT | Sold out |
| 20 | PCG 4.25 12-01-27Bond | Pg&e CORP | -2.4% | -60.76% | Trim |
| 21 | META | Meta Platforms Inc-class A | -5% | -51.01% | Trim |
| 22 | BA 6 10-15-27Bond | Boeing Co/the | -5.2% | -86.72% | Trim |
| 23 | ORCL | Oracle CORP | -5.4% | -57.41% | Trim |
| 24 | BKLN | Invesco Senior Loan ETF | -7.4% | EXIT | Sold out |
| 25 | CRS | Carpenter Technology | -9% | -82.16% | Trim |
| 26 | BABA 0.5 06-01-31Bond | Alibaba Group Holding | -9.4% | -78.28% | Trim |
| 27 | NEE 3 03-01-27Bond | Nextera Energy Capital | -20.9% | -76.21% | Trim |
Filing History
FAQ
What is Jones Road Capital Management, L.p. and what type of investor is it?
Jones Road Capital Management, L.p. 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 $49.0M, spread across 25 disclosed positions.
What are Jones Road Capital Management, L.p.'s largest equity positions?
Based on the latest 13F filing, Jones Road Capital Management, L.p.'s top holdings by market value are:
1. Nextera Energy Inc (NEE) — $21.5M (43.8%)
2. Apple Inc (AAPL) — $4.3M (8.9%)
3. Nextera Energy Capital (NEE 3 03-01-27) — $3.5M (7.1%)
4. Nvidia CORP (NVDA) — $3.0M (6.1%)
5. Meta Platforms Inc-class A (META) — $2.9M (6.0%)
What changes did Jones Road Capital Management, L.p. make in its most recent portfolio filing?
In the latest reported quarter, Jones Road Capital Management, L.p. made 27 notable position adjustments: 13 new positions were initiated, 0 existing holdings were added to, 11 positions were partially reduced, and 3 were completely exited. The largest of these moves: New buy: Nextera Energy Inc (NEE); New buy: Apple Inc (AAPL); Sold out: Invesco Senior Loan ETF (BKLN); New buy: Nvidia CORP (NVDA); New buy: Firstenergy CORP (FE)
What sectors does Jones Road Capital Management, L.p. focus on?
Jones Road Capital Management, L.p. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Utilities: 57.7%
• Information Technology: 22.1%
• Industrials: 10.7%
• Communication Services: 6.4%
• Consumer Discretionary: 2.6%
• Real Estate: 0.5%
Investment Profile
Jones Road Capital Management, L.p.'s portfolio is concentrated and fast-trading, with 57.7% of the portfolio concentrated in Utilities.
Its turnover score has risen from 0 to 100 over the past 4 quarters — a shift toward more active trading.
It has trimmed its ORCL position for two straight quarters, cutting it by $18.6M while still holding $2.4M.
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