LC
Luma Capital S.A. - SPF — 13F Portfolio Breakdown & Top Holdings (Q3 2026)
Luma Capital S.A. - SPFCIK: 0002087462
ContrarianQuality / disciplined sizingSector-focused
Total reported value
$121.8M
Reporting period: 2026-09-30 · Number of holdings: 13
Luma Capital S.A. - SPF disclosed 13 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $121.8M and a quarterly turnover rate of 16.5%.
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Personality snowflake
- Concentration
- 41.97
- Portfolio Stability
- 16.47
- Momentum
- 0
- Sector conviction
- 87
- Diversification
- 26
- Sizing Uniformity
- 93.72
Luma Capital S.A. - SPF's disclosed holdings carry a Herfindahl concentration index of 0.105 — mathematically equivalent to about 10 equally-sized positions, close to its 13 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.63), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward initiating meaningfully larger new positions than it adds to existing ones (a 3.1 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 BN
Trim MKL
0.0% -$1.7M
Trim GOOGL
0.0% -$782.4K
Add MSFT
0.0% $2.9M
Trim NVR
0.0% -$892.3K
Trim FND
0.0% -$815.7K
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 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 16.63% | -2.13% | — | |
| 2 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 16.11% | -0.63% | — | |
| 3 | V | Visa Inc-class A Shares | Stock-Financials | 10.03% | -0.37% | — | |
| 4 | MKL | Markel Group Inc | Stock-Financials | 9.89% | -2.36% | — | |
| 5 | MSFT | Microsoft CORP | Stock-Tech | 8.63% | +1.81% | — | |
| 6 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 8.33% | -0.76% | — | |
| 7 | BN | Brookfield CORP | Stock-Financials | 8.07% | +8.07% | NEW | |
| 8 | NVR | Nvr Inc | Stock-Consumer Disc | 6.84% | -1.39% | — | |
| 9 | MA | Mastercard Inc - A | Stock-Financials | 4.26% | -0.05% | — | |
| 10 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 4.22% | -0.74% | +1.28% | |
| 11 | NFLX | Netflix Inc | Stock-Comm Services | 4.15% | -0.48% | — | |
| 12 | FND | Floor & Decor Holdings Inc-a | Stock-Consumer Disc | 2.26% | -0.93% | — | |
| 13 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.56% | -0.07% | — |
Portfolio Performance
Performance for Q4 2026
-0.7%
Performance Last 4 Quarters
+5.1%
- Stdev
- +20.5%
- Beta
- +1
- Alpha
- -9.2%
- Max Drawdown
- -4.8%
- Annualized Perf
- +7.8%
- Batting Avg vs S&P
- +37.5%
- Sortino
- +0.89
- Stutzer
- +0.14
- Treynor
- +0.09
- Sterling
- —
- Calmar
- +1.64
- Information Ratio
- -0.73
- Tracking Error
- +12.5%
- Stdev Down
- +10.5%
- Winning Months %
- +50%
- Losing Months %
- +50%
- Best 12 Months
- —
- Worst 12 Months
- —
- Efficiency Ratio
- +0.14
- Sharpe
- +0.45
- Stdev Sectors
- +10%
- Skewness
- +0.59
- Kurtosis
- -0.52
- Upside Potential
- +3
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Luma Capital S.A. - SPF's most significant position changes for 2026-09-30: New buy: Brookfield CORP (BN); Add: Booking Holdings Inc (BKNG) — shares +1.28%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BN | Brookfield CORP | +8.1% | NEW | New buy |
| 2 | MSFT | Microsoft CORP | +1.8% | — | Unchanged |
| 3 | MA | Mastercard Inc - A | -0.1% | — | Unchanged |
| 4 | GOOG | Alphabet Inc-cl C | -0.1% | — | Unchanged |
| 5 | V | Visa Inc-class A Shares | -0.4% | — | Unchanged |
| 6 | NFLX | Netflix Inc | -0.5% | — | Unchanged |
| 7 | AMZN | Amazon.com Inc | -0.6% | — | Unchanged |
| 8 | BKNG | Booking Holdings Inc | -0.7% | +1.28% | Add |
| 9 | BRK-B | Berkshire Hathaway Inc-cl B | -0.8% | — | Unchanged |
| 10 | FND | Floor & Decor Holdings Inc-a | -0.9% | — | Unchanged |
| 11 | NVR | Nvr Inc | -1.4% | — | Unchanged |
| 12 | GOOGL | Alphabet Inc-cl A | -2.1% | — | Unchanged |
| 13 | MKL | Markel Group Inc | -2.4% | — | Unchanged |
Filing History
FAQ
What is Luma Capital S.A. - SPF and what type of investor is it?
Luma Capital S.A. - SPF 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 $121.8M, spread across 13 disclosed positions.
What are Luma Capital S.A. - SPF's largest equity positions?
Based on the latest 13F filing, Luma Capital S.A. - SPF's top holdings by market value are:
1. Alphabet Inc-cl A (GOOGL) — $20.3M (16.6%)
2. Amazon.com Inc (AMZN) — $19.6M (16.1%)
3. Visa Inc-class A Shares (V) — $12.2M (10.0%)
4. Markel Group Inc (MKL) — $12.0M (9.9%)
5. Microsoft CORP (MSFT) — $10.5M (8.6%)
What changes did Luma Capital S.A. - SPF make in its most recent portfolio filing?
In the latest quarter, Luma Capital S.A. - SPF was primarily adding exposure — initiating 1 new positions and adding to 1 existing holdings. The largest of these moves: New buy: Brookfield CORP (BN); Add: Booking Holdings Inc (BKNG) — shares +1.28%
What sectors does Luma Capital S.A. - SPF focus on?
Luma Capital S.A. - SPF is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 35.2%
• Consumer Discretionary: 32.1%
• Communication Services: 23.3%
• Information Technology: 9.4%
Investment Profile
Luma Capital S.A. - SPF returned an annualized 7.8% over the trailing 8 months — underperforming the S&P 500 by 9.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.00 (roughly in line with the market) and a 38% quarterly batting average against the index.
Its portfolio is moderately concentrated and long-term-holding, with 35.2% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 16 over the past 3 quarters — a shift toward more active trading.
It has added to its AMZN position over the past two quarters (+$3.2M, now $19.6M), while trimming NFLX over the same stretch (-$1.9M, still holding $5.1M).
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Developer Access
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