PO
Paradigm Operations LP 13F Holdings (4 Positions, Q2 2026)
Paradigm Operations LPCIK: 0001911136
Concentrated strategySector-focusedMomentum follower
Total reported value
$1.0B
Reporting period: 2026-06-30 · Number of holdings: 4
Paradigm Operations LP disclosed 4 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.0B and a quarterly turnover rate of 40.2%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 40.24
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 8
- Sizing Uniformity
- 90.49
Paradigm Operations LP's disclosed holdings carry a Herfindahl concentration index of 0.420 — mathematically equivalent to about 2 equally-sized positions, well below its 4 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 0.95), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 26.8 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim COIN
-11.3% -$161.1M
Add HOOD
+10.0% $176.5M
New buy AMBR
Add PURR
0.0% $15.9M
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 | HOOD | Robinhood Markets Inc - A | Stock-Financials | 46.03% | +14.77% | +10.01% | |
| 2 | COIN | Coinbase Global Inc -class A | Stock-Financials | 45.15% | -20.54% | -11.26% | |
| 3 | AMBR | Amber International Holding | Stock-Other | 4.46% | +4.46% | NEW | |
| 4 | PURR | Hyperliquid Strategies | Stock-Other | 4.36% | +1.31% | — |
Portfolio Performance
Performance for Q3 2026
+1.3%
Performance Last 4 Quarters
-29.1%
- Stdev
- +85.8%
- Beta
- +4.29
- Alpha
- -21.1%
- Max Drawdown
- -53.9%
- Annualized Perf
- +39.5%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +1.67
- Stutzer
- +0.23
- Treynor
- +0.15
- Sterling
- +0.77
- Calmar
- +0.73
- Information Ratio
- +0.57
- Tracking Error
- +78%
- Stdev Down
- +38.6%
- Winning Months %
- +52.8%
- Losing Months %
- +47.2%
- Best 12 Months
- +137.5%
- Worst 12 Months
- -53.9%
- Efficiency Ratio
- +0.25
- Sharpe
- +0.75
- Stdev Sectors
- 0%
- Skewness
- +0.91
- Kurtosis
- +0.11
- Upside Potential
- +3.76
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 4 | $1.0B | 40 | ||
| 2026 Q1 | 3 | $954.1M | 36 | ||
| 2025 Q4 | 3 | $1.4B | 34 | ||
| 2025 Q3 | 2 | $1.9B | 64 | ||
| 2025 Q2 | 2 | $1.8B | 0 | ||
| 2025 Q1 | 1 | $711.0M | 0 | ||
| 2024 Q4 | 1 | $1.0B | 0 | ||
| 2024 Q3 | 1 | $804.5M | 0 | ||
| 2024 Q2 | 1 | $1.0B | 0 | ||
| 2024 Q1 | 1 | $1.2B | 0 | ||
| 2023 Q4 | 1 | $785.4M | 0 | ||
| 2023 Q3 | 1 | $339.0M | 0 | ||
| 2023 Q2 | 1 | $325.1M | 0 | ||
| 2023 Q1 | 1 | $250.4M | 0 | ||
| 2022 Q4 | 1 | $131.1M | 0 | ||
| 2022 Q3 | 1 | $239.0M | 0 | ||
| 2022 Q2 | 1 | $174.2M | 0 | ||
| 2022 Q1 | 1 | $483.1M | 0 | ||
| 2021 Q4 | 1 | $642.2M | 0 |
Holding changes this quarter
Paradigm Operations LP's most significant position changes for 2026-06-30: New buy: Amber International Holding (AMBR); Trim: Coinbase Global Inc -class A (COIN) — shares -11.26%; Add: Robinhood Markets Inc - A (HOOD) — shares +10.01%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | HOOD | Robinhood Markets Inc - A | +14.8% | +10.01% | Add |
| 2 | AMBR | Amber International Holding | +4.5% | NEW | New buy |
| 3 | PURR | Hyperliquid Strategies | +1.3% | — | Unchanged |
| 4 | COIN | Coinbase Global Inc -class A | -20.5% | -11.26% | Trim |
Filing History
FAQ
What is Paradigm Operations LP and what type of investor is it?
Paradigm Operations 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 (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.0B, spread across 4 disclosed positions.
What are Paradigm Operations LP's largest equity positions?
Based on the latest 13F filing, Paradigm Operations LP's top holdings by market value are:
1. Robinhood Markets Inc - A (HOOD) — $474.8M (46.0%)
2. Coinbase Global Inc -class A (COIN) — $465.7M (45.1%)
3. Amber International Holding (AMBR) — $46.0M (4.5%)
4. Hyperliquid Strategies (PURR) — $44.9M (4.4%)
What changes did Paradigm Operations LP make in its most recent portfolio filing?
In the latest reported quarter, Paradigm Operations LP made 3 notable position adjustments: 1 new positions were initiated, 1 existing holdings were added to, 1 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: Amber International Holding (AMBR); Trim: Coinbase Global Inc -class A (COIN) — shares -11.26%; Add: Robinhood Markets Inc - A (HOOD) — shares +10.01%
What sectors does Paradigm Operations LP focus on?
Paradigm Operations LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 100.0%
Investment Profile
Paradigm Operations LP returned an annualized 39.5% over the trailing 36 months — underperforming the S&P 500 by 21.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 4.29 (more volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is concentrated and moderately active, with 100.0% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 40 over the past 4 quarters — a shift toward more active trading.
It has added to its PURR position over the past two quarters (+$24.6M, now $44.9M), while trimming COIN over the same stretch (-$498.3M, still holding $465.7M).
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