LP
Lexington Partners L.P. — 13F Portfolio Analysis & Stock Picks (Q2 2026)
Lexington Partners L.P.CIK: 0001621157
High-turnover traderConcentrated strategySector-focused
Total reported value
$133.8M
Reporting period: 2026-06-30 · Number of holdings: 2
Lexington Partners L.P. disclosed 2 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $133.8M and a quarterly turnover rate of 93.0%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 92.99
- Momentum
- 50
- Sector conviction
- 100
- Diversification
- 4
- Sizing Uniformity
- 86.82
Lexington Partners L.P.'s disclosed holdings carry a Herfindahl concentration index of 0.934 — mathematically equivalent to about 1 equally-sized positions, well below its 2 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 1.32), 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.govAdd NABL
0.0% -$1.2M
Sold out MDLN
Trim KRMN
-41.5% -$225.4M
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 | KRMN | Karman Holdings Inc | Stock-Industrials | 96.60% | -0.19% | -41.54% | |
| 2 | NABL | N-able Inc | Stock-Other | 3.40% | +1.82% | — |
Portfolio Performance
Performance for Q3 2026
-19.8%
Performance Last 4 Quarters
-39.1%
- Stdev
- +32.8%
- Beta
- +0.12
- Alpha
- -14.1%
- Max Drawdown
- -55.3%
- Annualized Perf
- -15.3%
- Batting Avg vs S&P
- +33.3%
- Sortino
- -0.56
- Stutzer
- -0.1
- Treynor
- -0.98
- Sterling
- -0.41
- Calmar
- -0.28
- Information Ratio
- -0.91
- Tracking Error
- +34.7%
- Stdev Down
- +20.8%
- Winning Months %
- +50%
- Losing Months %
- +50%
- Best 12 Months
- +53.2%
- Worst 12 Months
- -39.1%
- Efficiency Ratio
- +0.18
- Sharpe
- -0.36
- Stdev Sectors
- 0%
- Skewness
- +2.02
- Kurtosis
- +7.95
- Upside Potential
- +1.49
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 2 | $133.8M | 93 | ||
| 2026 Q1 | 3 | $366.4M | 10 | ||
| 2025 Q4 | 5 | $339.5M | 3 | ||
| 2025 Q3 | 4 | $330.4M | 100 | ||
| 2025 Q2 | 1 | $10.0M | 0 | ||
| 2025 Q1 | 4 | $10.6M | 100 | ||
| 2024 Q4 | 6 | $83.0M | 0 | ||
| 2024 Q3 | 3 | $94.3M | 0 | ||
| 2024 Q2 | 3 | $89.0M | 0 | ||
| 2024 Q1 | 4 | $140.5M | 0 | ||
| 2023 Q4 | 9 | $152.5M | 0 | ||
| 2023 Q3 | 4 | $136.0M | 0 | ||
| 2023 Q2 | 7 | $148.2M | 0 | ||
| 2023 Q1 | 5 | $156.1M | 0 | ||
| 2022 Q4 | 6 | $180.0M | 0 | ||
| 2022 Q3 | 7 | $182.8M | 0 | ||
| 2022 Q2 | 7 | $193.6M | 0 | ||
| 2022 Q1 | 6 | $220.0M | 0 | ||
| 2021 Q4 | 6 | $235.2M | 0 | ||
| 2021 Q3 | 5 | $190.9M | 0 | ||
| 2021 Q2 | 3 | $210.6M | 100 | ||
| 2021 Q1 | 4 | $196.3M | 9 | ||
| 2020 Q4 | 5 | $183.5M | 66 | ||
| 2020 Q3 | 3 | $160.2M | 29 | ||
| 2020 Q2 | 3 | $128.4M | 47 | ||
| 2020 Q1 | 4 | $172.3M | 50 | ||
| 2019 Q4 | 4 | $179.4M | 100 | ||
| 2018 Q4 | 2 | $48.0M | 100 | ||
| 2018 Q3 | 1 | $25.2M | 26 | ||
| 2018 Q2 | 1 | $32.8M | 25 | ||
| 2018 Q1 | 1 | $25.6M | 22 | ||
| 2017 Q4 | 1 | $32.0M | 7 | ||
| 2017 Q3 | 1 | $34.4M | 13 | ||
| 2017 Q2 | 1 | $30.0M | 32 | ||
| 2017 Q1 | 1 | $41.4M | 8 | ||
| 2016 Q4 | 1 | $44.8M | 100 | ||
| 2016 Q3 | 1 | $12.1M | 100 | ||
| 2016 Q2 | 1 | $63.7M | 34 | ||
| 2016 Q1 | 1 | $89.7M | 59 | ||
| 2015 Q4 | 1 | $165.2M | — |
💡
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
Lexington Partners L.P.'s most significant position changes for 2026-06-30: Sold out: Medline Inc-cl A (MDLN); Trim: Karman Holdings Inc (KRMN) — shares -41.54%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | NABL | N-able Inc | +1.8% | — | Unchanged |
| 2 | KRMN | Karman Holdings Inc | -0.2% | -41.54% | Trim |
| 3 | MDLN | Medline Inc-cl A | -1.6% | EXIT | Sold out |
Filing History
FAQ
What is Lexington Partners L.P. and what type of investor is it?
Lexington Partners 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 $133.8M, spread across 2 disclosed positions.
What are Lexington Partners L.P.'s largest equity positions?
Based on the latest 13F filing, Lexington Partners L.P.'s top holdings by market value are:
1. Karman Holdings Inc (KRMN) — $129.3M (96.6%)
2. N-able Inc (NABL) — $4.6M (3.4%)
What changes did Lexington Partners L.P. make in its most recent portfolio filing?
In the latest quarter, Lexington Partners L.P. took a more defensive posture — trimming 1 positions and completely exiting 1 holdings. The largest of these moves: Sold out: Medline Inc-cl A (MDLN); Trim: Karman Holdings Inc (KRMN) — shares -41.54%
What sectors does Lexington Partners L.P. focus on?
Lexington Partners L.P. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Industrials: 100.0%
Investment Profile
Lexington Partners L.P. returned an annualized -15.3% over the trailing 36 months — underperforming the S&P 500 by 14.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.12 (less volatile than the market) and a 33% quarterly batting average against the index.
Its portfolio is concentrated and fast-trading, with 100.0% of the portfolio concentrated in Industrials.
Its turnover score has risen from 0 to 93 over the past 4 quarters — a shift toward more active trading.
It has trimmed its NABL position for two straight quarters, cutting it by $4.7M while still holding $4.6M.
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Developer Access
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REST API
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