SS
Spinecap SAS 13F Holdings & Recent Stock Buys (Q2 2026)
Spinecap SASCIK: 0002011727
Quality / disciplined sizingLong-term holderSector-focused
Total reported value
$334.7M
Reporting period: 2026-06-30 · Number of holdings: 16
Spinecap SAS disclosed 16 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $334.7M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 33.79
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 75.31
- Diversification
- 32
- Sizing Uniformity
- 93.87
Spinecap SAS's disclosed holdings carry a Herfindahl concentration index of 0.084 — mathematically equivalent to about 12 equally-sized positions, close to its 16 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 0.61), 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy SUNB
Trim APO
-0.9% $1.9M
Trim MSFT
+2.6% $1.1M
Trim TMO
+4.3% $2.2M
Trim MA
+9.5% $4.5M
Trim GOOGL
-8.2% $4.5M
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 | MA | Mastercard Inc - A | Stock-Financials | 12.14% | -1.11% | +9.50% | |
| 2 | APO | Apollo Global Management Inc | Stock-Financials | 11.36% | -1.91% | -0.94% | |
| 3 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 10.91% | -0.83% | -8.16% | |
| 4 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 10.86% | -1.68% | +4.28% | |
| 5 | SUNB | Sunbelt Rentals Holdings Inc | Stock-Industrials | 10.64% | +10.64% | NEW | |
| 6 | MSFT | Microsoft CORP | Stock-Tech | 9.68% | -1.82% | +2.64% | |
| 7 | KKR | Kkr & Co Inc | Stock-Financials | 5.68% | +0.24% | +29.21% | |
| 8 | DHR | Danaher CORP | Stock-Healthcare | 3.58% | +0.14% | +27.15% | |
| 9 | V | Visa Inc-class A Shares | Stock-Financials | 3.37% | -0.10% | +4.97% | |
| 10 | SNPS | Synopsys Inc | Stock-Tech | 3.33% | -0.11% | +5.70% | |
| 11 | TDG | Transdigm Group Inc | Stock-Industrials | 3.26% | -0.34% | -3.27% | |
| 12 | AVGO | Broadcom Inc | Stock-Tech | 3.22% | -0.41% | -10.80% | |
| 13 | BX | Blackstone Inc | Stock-Financials | 3.12% | -0.70% | -1.98% | |
| 14 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.09% | -0.59% | -9.89% | |
| 15 | BLK | Blackrock Inc | Stock-Financials | 2.89% | -0.76% | -2.80% | |
| 16 | ICE | Intercontinental Exchange In | Stock-Financials | 2.87% | -0.65% | +27.96% |
Portfolio Performance
Performance for Q3 2026
+10.5%
Performance Last 4 Quarters
+33.3%
- Stdev
- +23.5%
- Beta
- +1.41
- Alpha
- +4.6%
- Max Drawdown
- -24.6%
- Annualized Perf
- +31%
- Batting Avg vs S&P
- +67.7%
- Sortino
- +2.22
- Stutzer
- +0.36
- Treynor
- +0.21
- Sterling
- +1.13
- Calmar
- +1.26
- Information Ratio
- +0.71
- Tracking Error
- +17%
- Stdev Down
- +13.5%
- Winning Months %
- +67.7%
- Losing Months %
- +32.3%
- Best 12 Months
- +64.9%
- Worst 12 Months
- +11.5%
- Efficiency Ratio
- +0.54
- Sharpe
- +1.28
- Stdev Sectors
- +11.9%
- Skewness
- -0.6
- Kurtosis
- +0.16
- Upside Potential
- +3.78
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Spinecap SAS's most significant position changes for 2026-06-30: New buy: Sunbelt Rentals Holdings Inc (SUNB); Trim: Apollo Global Management Inc (APO) — shares -0.94%; Add: Microsoft CORP (MSFT) — shares +2.64%; Add: Thermo Fisher Scientific Inc (TMO) — shares +4.28%; Add: Mastercard Inc - A (MA) — shares +9.50%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SUNB | Sunbelt Rentals Holdings Inc | +10.6% | NEW | New buy |
| 2 | KKR | Kkr & Co Inc | +0.2% | +29.21% | Add |
| 3 | DHR | Danaher CORP | +0.1% | +27.15% | Add |
| 4 | V | Visa Inc-class A Shares | -0.1% | +4.97% | Add |
| 5 | SNPS | Synopsys Inc | -0.1% | +5.70% | Add |
| 6 | TDG | Transdigm Group Inc | -0.3% | -3.27% | Trim |
| 7 | AVGO | Broadcom Inc | -0.4% | -10.80% | Trim |
| 8 | AMZN | Amazon.com Inc | -0.6% | -9.89% | Trim |
| 9 | ICE | Intercontinental Exchange In | -0.7% | +27.96% | Add |
| 10 | BX | Blackstone Inc | -0.7% | -1.98% | Trim |
| 11 | BLK | Blackrock Inc | -0.8% | -2.80% | Trim |
| 12 | GOOGL | Alphabet Inc-cl A | -0.8% | -8.16% | Trim |
| 13 | MA | Mastercard Inc - A | -1.1% | +9.50% | Add |
| 14 | TMO | Thermo Fisher Scientific Inc | -1.7% | +4.28% | Add |
| 15 | MSFT | Microsoft CORP | -1.8% | +2.64% | Add |
| 16 | APO | Apollo Global Management Inc | -1.9% | -0.94% | Trim |
Filing History
FAQ
What is Spinecap SAS and what type of investor is it?
Spinecap SAS 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 $334.7M, spread across 16 disclosed positions.
What are Spinecap SAS's largest equity positions?
Based on the latest 13F filing, Spinecap SAS's top holdings by market value are:
1. Mastercard Inc - A (MA) — $40.6M (12.1%)
2. Apollo Global Management Inc (APO) — $38.0M (11.4%)
3. Alphabet Inc-cl A (GOOGL) — $36.5M (10.9%)
4. Thermo Fisher Scientific Inc (TMO) — $36.3M (10.9%)
5. Sunbelt Rentals Holdings Inc (SUNB) — $35.6M (10.6%)
What changes did Spinecap SAS make in its most recent portfolio filing?
In the latest reported quarter, Spinecap SAS made 16 notable position adjustments: 1 new positions were initiated, 8 existing holdings were added to, 7 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: Sunbelt Rentals Holdings Inc (SUNB); Trim: Apollo Global Management Inc (APO) — shares -0.94%; Add: Microsoft CORP (MSFT) — shares +2.64%; Add: Thermo Fisher Scientific Inc (TMO) — shares +4.28%; Add: Mastercard Inc - A (MA) — shares +9.50%
What sectors does Spinecap SAS focus on?
Spinecap SAS is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 41.4%
• Information Technology: 16.2%
• Health Care: 14.4%
• Industrials: 13.9%
• Communication Services: 10.9%
• Consumer Discretionary: 3.1%
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Investment Profile
Spinecap SAS returned an annualized 31.0% over the trailing 31 months — outperforming the S&P 500 by 4.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.41 (more volatile than the market) and a 68% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 41.4% of the portfolio concentrated in Financials.
It has added to its MA position over the past two quarters (+$20.6M, now $40.6M), while trimming BLK over the same stretch (-$387.6K, still holding $9.7M).
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Developer Access
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