NF
North Fourth Asset Management, LP Historical SEC 13F Holdings & Archive (Q3 2023)
North Fourth Asset Management, LPCIK: 0001715329
Sector-focusedLong-term holderQuality / disciplined sizing
Total reported value
$163.5M
Reporting period: 2023-09-30 · Number of holdings: 40
North Fourth Asset Management, LP disclosed 40 holdings in its latest 13F filing for the period ending 2023-09-30, with total reported value of $163.5M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 24.65
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 100
- Diversification
- 68
- Sizing Uniformity
- 89.38
North Fourth Asset Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.062 — mathematically equivalent to about 16 equally-sized positions, well below its 40 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.06), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
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 65% 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.govNo holding changes this quarter
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 34 holdings (of 40 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 17.53% | — | +166.67% | |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 7.84% | — | -64.71% | |
| 3 | SHW | Sherwin-williams Co/the | Stock-Materials | 5.38% | — | — | |
| 4 | LULU | Lululemon Athletica Inc | Stock-Consumer Disc | 4.95% | — | — | |
| 5 | ZBRA | Zebra Technologies Corp-cl A | Stock-Tech | 4.69% | — | — | |
| 6 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 4.51% | — | -50.04% | |
| 7 | DPZ | Domino's Pizza Inc | Stock-Consumer Disc | 3.93% | — | — | |
| 8 | FDX | Fedex CORP | Stock-Industrials | 3.89% | — | — | |
| 9 | MSFT | Microsoft CORP | Stock-Tech | 3.86% | — | +127.27% | |
| 10 | META | Meta Platforms Inc-class A | Stock-Comm Services | 3.67% | — | — | |
| 11 | SKAA | Skechers USA Inc-cl A | Stock-Other | 3.52% | — | — | |
| 12 | ARKK | Ark Innovation ETF | ETF-Other | 3.40% | — | — | |
| 13 | SBUX | Starbucks CORP | Stock-Consumer Disc | 3.07% | — | — | |
| 14 | NKE | Nike Inc -cl B | Stock-Consumer Disc | 2.92% | — | -66.83% | |
| 15 | RCL | Royal Caribbean Cruises Ltd. | Stock-Consumer Disc | 2.77% | — | — | |
| 16 | ASO | Academy Sports & Outdoors In | Stock-Consumer Disc | 2.60% | — | — | |
| 17 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 2.58% | — | — | |
| 18 | M | Macy's, Inc. | Stock-Consumer Disc | 2.34% | — | +560.00% | |
| 19 | WYNN | Wynn Resorts LTD | Stock-Consumer Disc | 2.32% | — | -38.79% | |
| 20 | VMC | Vulcan Materials Co | Stock-Materials | 2.13% | — | — | |
| 21 | SHAK | Shake Shack Inc - Class A | Stock-Consumer Disc | 1.77% | — | — | |
| 22 | DG | Dollar General CORP | Stock-Consumer Staples | 1.62% | — | -62.12% | |
| 23 | URBN | Urban Outfitters Inc | Stock-Consumer Disc | 1.51% | — | +657.09% | |
| 24 | AEO | American Eagle Outfitters | Stock-Consumer Disc | 1.32% | — | — | |
| 25 | ACN | Accenture plc | Stock-Tech | 1.13% | — | — | |
| 26 | LVS | Las Vegas Sands CORP | Stock-Consumer Disc | 1.12% | — | -50.39% | |
| 27 | ✓ | Luminar Technologies Inc | Stock-Other | 0.92% | — | +120.00% | |
| 28 | JETS | US Global Jets ETF | ETF-Other | 0.57% | — | — | |
| 29 | ✓ | Innoviz Technologies LTD Shs | Stock-Other | 0.54% | — | -82.62% | |
| 30 | CCL1EUR | Carnival CORP LTD | Stock-Consumer Disc | 0.42% | — | -83.33% | |
| 31 | CRM | Salesforce Inc | Stock-Tech | 0.37% | — | — | |
| 32 | REAL | Realreal Inc/the | Stock-Other | 0.36% | — | — | |
| 33 | RL | Ralph Lauren CORP | Stock-Consumer Disc | 0.36% | — | -75.00% | |
| 34 | MSC | Studio City Internationa-adr | Stock-Other | 0.08% | — | -5.51% |
Portfolio Performance
Performance for Q3 2026
+2.3%
Performance Last 4 Quarters
+6.1%
- Stdev
- +18.1%
- Beta
- +1.29
- Alpha
- -12.3%
- Max Drawdown
- -15%
- Annualized Perf
- +12.5%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +1.26
- Stutzer
- +0.22
- Treynor
- +0.1
- Sterling
- +0.62
- Calmar
- +0.83
- Information Ratio
- -0.82
- Tracking Error
- +8.1%
- Stdev Down
- +10.6%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +34.7%
- Worst 12 Months
- -2.7%
- Efficiency Ratio
- +0.3
- Sharpe
- +0.74
- Stdev Sectors
- +19.4%
- Skewness
- -0.02
- Kurtosis
- +0.04
- Upside Potential
- +2.82
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2023 Q3 | 40 | $163.5M | 0 | ||
| 2023 Q2 | 74 | $285.1M | 0 | ||
| 2023 Q1 | 74 | $461.8M | 0 | ||
| 2022 Q4 | 69 | $397.8M | 0 | ||
| 2022 Q3 | 61 | $394.1M | 0 | ||
| 2022 Q2 | 88 | $455.9M | 0 | ||
| 2022 Q1 | 78 | $571.5M | 0 | ||
| 2021 Q4 | 85 | $487.7M | 0 | ||
| 2021 Q3 | 83 | $572.0M | 0 | ||
| 2021 Q2 | 87 | $568.3M | 100 | ||
| 2021 Q1 | 81 | $443.9M | 100 | ||
| 2020 Q4 | 119 | $981.8M | 100 | ||
| 2020 Q3 | 66 | $408.4M | 100 | ||
| 2020 Q2 | 80 | $734.0M | 100 | ||
| 2020 Q1 | 64 | $216.2M | 100 | ||
| 2019 Q4 | 68 | $376.9M | 100 | ||
| 2019 Q3 | 46 | $288.2M | 100 | ||
| 2019 Q2 | 50 | $574.0M | 100 | ||
| 2019 Q1 | 55 | $452.9M | 100 | ||
| 2018 Q4 | 65 | $315.8M | 100 | ||
| 2018 Q3 | 52 | $286.2M | 100 | ||
| 2018 Q2 | 66 | $405.8M | 100 | ||
| 2018 Q1 | 67 | $396.1M | 100 | ||
| 2017 Q4 | 73 | $304.4M | 0 |
Holding changes this quarter
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|
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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.
Filing History
FAQ
What is North Fourth Asset Management, LP and what type of investor is it?
North Fourth Asset Management, LP 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 (2023-09-30), the firm manages a tracked equity portfolio valued at approximately $163.5M, spread across 40 disclosed positions.
What are North Fourth Asset Management, LP's largest equity positions?
Based on the latest 13F filing, North Fourth Asset Management, LP's top holdings by market value are:
1. Invesco Qqq Trust Series 1 (QQQ) — $28.7M (17.5%)
2. Ss Spdr S&p 500 ETF Trust-us (SPY) — $12.8M (7.8%)
3. Sherwin-williams Co/the (SHW) — $8.8M (5.4%)
4. Lululemon Athletica Inc (LULU) — $8.1M (5.0%)
5. Zebra Technologies Corp-cl A (ZBRA) — $7.7M (4.7%)
What changes did North Fourth Asset Management, LP make in its most recent portfolio filing?
No notable portfolio changes were recorded for North Fourth Asset Management, LP in the most recent quarter. Holdings appear to have remained relatively stable.
What sectors does North Fourth Asset Management, LP focus on?
North Fourth Asset Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Consumer Discretionary: 59.0%
• Information Technology: 15.4%
• Materials: 11.5%
• Industrials: 6.0%
• Communication Services: 5.6%
• Consumer Staples: 2.5%
Investment Profile
North Fourth Asset Management, LP returned an annualized 12.5% over the trailing 36 months — underperforming the S&P 500 by 12.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.29 (more volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 59.0% of the portfolio concentrated in Consumer Discretionary.
Its concentration score has fallen from 56 to 25 over the past 4 quarters — a shift toward broader diversification.
It has trimmed its SPY position for two straight quarters, cutting it by $110.0M while still holding $12.8M.
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