TI
Triad Investment Management Quarterly 13F Portfolio Update (Q3 2026)
Triad Investment ManagementCIK: 0001615717
Sector-focusedMomentum followerQuality / disciplined sizing
Total reported value
$75.4M
Reporting period: 2026-09-30 · Number of holdings: 32
Triad Investment Management disclosed 32 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $75.4M and a quarterly turnover rate of 32.1%.
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Personality snowflake
- Concentration
- 19.05
- Portfolio Stability
- 32.07
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 64
- Sizing Uniformity
- 92.64
Triad Investment Management's disclosed holdings carry a Herfindahl concentration index of 0.048 — mathematically equivalent to about 21 equally-sized positions, close to its 32 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 0.74), 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 2.8 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.govSold out NVR
Add IT
+7.9% $2.2M
Trim ASML
-68.7% -$3.2M
Sold out MAC
Sold out AKRE
Sold out SLRC
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 | IT | Gartner Inc | Stock-Tech | 8.14% | +3.78% | +7.87% | |
| 2 | V | Visa Inc-class A Shares | Stock-Financials | 7.33% | +1.58% | +1.25% | |
| 3 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 6.96% | +1.16% | +3.49% | |
| 4 | WTM | White Mountains Insurance Group, Ltd. | Stock-Financials | 6.43% | +0.78% | -2.23% | |
| 5 | ROP | Roper Technologies Inc | Stock-Tech | 5.79% | +1.18% | +1.21% | |
| 6 | CDW | Cdw Corp/de | Stock-Tech | 5.18% | +0.44% | -0.12% | |
| 7 | BRO | Brown & Brown Inc | Stock-Financials | 5.01% | +0.44% | -3.98% | |
| 8 | THO | Thor Industries Inc | Stock-Consumer Disc | 4.75% | +0.45% | -0.16% | |
| 9 | MSFT | Microsoft CORP | Stock-Tech | 4.60% | +1.87% | +1.90% | |
| 10 | FISV | Fiserv Inc | Stock-Other | 4.38% | +0.50% | +1.89% | |
| 11 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 4.28% | +0.79% | +2.50% | |
| 12 | MAX | Mediaalpha Inc-class A | Stock-Other | 4.12% | -0.99% | -12.03% | |
| 13 | HEI-A | Heico Corp-class A | Stock-Other | 3.53% | +0.20% | -0.38% | |
| 14 | INTU | Intuit Inc | Stock-Tech | 3.43% | +0.97% | +9.73% | |
| 15 | BINC | Ishares Flex I A Etf-usd Inc | ETF-Other | 3.39% | +1.10% | +26.68% | |
| 16 | SPGI | S&p Global Inc | Stock-Financials | 3.16% | +0.53% | +3.21% | |
| 17 | HTGC | Hercules Capital Inc | Stock-Financials | 2.93% | +0.76% | +5.32% | |
| 18 | VGSH | Vanguard Short-term Treasury | ETF-Gov Bonds | 2.72% | +0.44% | +0.54% | |
| 19 | ACGL | Arch Capital Group Ltd. | Stock-Financials | 2.58% | +0.34% | +0.80% | |
| 20 | NXPI | NXP Semiconductors N.V. | Stock-Tech | 2.11% | +0.08% | +2.47% | |
| 21 | AXP | American Express Co | Stock-Financials | 1.73% | +0.13% | — | |
| 22 | ASML | ASML Holding N.V. | Stock-Tech | 1.67% | -3.20% | -68.68% | |
| 23 | INFL | Horizon Kinetics Infl Benef | ETF-Other | 1.28% | +0.22% | -0.22% | |
| 24 | WSO | Watsco Inc | Stock-Industrials | 0.99% | -0.13% | +1.31% | |
| 25 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.85% | +0.17% | — | |
| 26 | ARCC | Ares Capital CORP | Stock-Financials | 0.49% | +0.09% | — | |
| 27 | SIRI | Sirius Xm Holdings Inc | Stock-Comm Services | 0.43% | +0.02% | — | |
| 28 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.41% | +0.41% | NEW | |
| 29 | WCMI | Ft Wcm International ETF | ETF-Other | 0.39% | +0.39% | NEW | |
| 30 | TSLX | Sixth Street Specialty Lendi | Stock-Other | 0.34% | +0.07% | — | |
| 31 | CBRE | Cbre Group Inc - A | Stock-Real Estate | 0.32% | +0.04% | — | |
| 32 | AMGN | Amgen Inc | Stock-Healthcare | 0.28% | +0.28% | NEW |
Portfolio Performance
Performance for Q4 2026
-3%
Performance Last 4 Quarters
-2.7%
- Stdev
- +15.2%
- Beta
- +0.89
- Alpha
- -14.3%
- Max Drawdown
- -18.9%
- Annualized Perf
- +5.2%
- Batting Avg vs S&P
- +30.6%
- Sortino
- +0.63
- Stutzer
- +0.12
- Treynor
- +0.07
- Sterling
- +0.25
- Calmar
- +0.28
- Information Ratio
- -1.57
- Tracking Error
- +10.6%
- Stdev Down
- +9.8%
- Winning Months %
- +58.3%
- Losing Months %
- +41.7%
- Best 12 Months
- +28.5%
- Worst 12 Months
- -12.7%
- Efficiency Ratio
- +0.13
- Sharpe
- +0.41
- Stdev Sectors
- +16.7%
- Skewness
- -0.12
- Kurtosis
- -0.64
- Upside Potential
- +2.47
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 32 | $75.4M | 32 | ||
| 2026 Q2 | 34 | $90.7M | 42 | ||
| 2026 Q1 | 36 | $84.7M | 31 | ||
| 2025 Q4 | 36 | $98.7M | 100 | ||
| 2024 Q1 | 42 | $82.4M | 0 | ||
| 2023 Q4 | 44 | $76.2M | 0 | ||
| 2023 Q3 | 46 | $68.5M | 0 | ||
| 2023 Q2 | 57 | $71.9M | 0 | ||
| 2023 Q1 | 59 | $68.8M | 0 | ||
| 2022 Q4 | 56 | $63.9M | 0 | ||
| 2022 Q3 | 55 | $57.6M | 0 | ||
| 2022 Q2 | 60 | $67.5M | 0 | ||
| 2022 Q1 | 62 | $105.7M | 0 | ||
| 2021 Q4 | 64 | $110.1M | 0 | ||
| 2020 Q4 | 54 | $90.1M | 36 | ||
| 2020 Q3 | 51 | $70.6M | 17 | ||
| 2020 Q2 | 52 | $73.9M | 39 | ||
| 2020 Q1 | 48 | $57.6M | 73 | ||
| 2019 Q4 | 45 | $103.2M | 26 | ||
| 2019 Q3 | 45 | $91.9M | 24 | ||
| 2019 Q2 | 43 | $96.6M | 19 | ||
| 2019 Q1 | 50 | $98.2M | 53 | ||
| 2018 Q4 | 51 | $76.4M | 0 |
Holding changes this quarter
Triad Investment Management's most significant position changes for 2026-09-30: Sold out: Nvr Inc (NVR); Sold out: Macerich Co/the (MAC); Sold out: Akre Focus ETF (AKRE); Sold out: Slr Investment CORP (SLRC); Sold out: Oaktree Specialty Lending Co (OCSL).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IT | Gartner Inc | +3.8% | +7.87% | Add |
| 2 | MSFT | Microsoft CORP | +1.9% | +1.90% | Add |
| 3 | V | Visa Inc-class A Shares | +1.6% | +1.25% | Add |
| 4 | ROP | Roper Technologies Inc | +1.2% | +1.21% | Add |
| 5 | GOOG | Alphabet Inc-cl C | +1.2% | +3.49% | Add |
| 6 | BINC | Ishares Flex I A Etf-usd Inc | +1.1% | +26.68% | Add |
| 7 | INTU | Intuit Inc | +1% | +9.73% | Add |
| 8 | BRK-B | Berkshire Hathaway Inc-cl B | +0.8% | +2.50% | Add |
| 9 | WTM | White Mountains Insurance Group, Ltd. | +0.8% | -2.23% | Trim |
| 10 | HTGC | Hercules Capital Inc | +0.8% | +5.32% | Add |
| 11 | SPGI | S&p Global Inc | +0.5% | +3.21% | Add |
| 12 | FISV | Fiserv Inc | +0.5% | +1.89% | Add |
| 13 | THO | Thor Industries Inc | +0.5% | -0.16% | Trim |
| 14 | CDW | Cdw Corp/de | +0.4% | -0.12% | Trim |
| 15 | BRO | Brown & Brown Inc | +0.4% | -3.98% | Trim |
| 16 | VGSH | Vanguard Short-term Treasury | +0.4% | +0.54% | Add |
| 17 | VOO | Vanguard S&p 500 ETF | +0.4% | NEW | New buy |
| 18 | WCMI | Ft Wcm International ETF | +0.4% | NEW | New buy |
| 19 | ACGL | Arch Capital Group Ltd. | +0.3% | +0.80% | Add |
| 20 | AMGN | Amgen Inc | +0.3% | NEW | New buy |
| 21 | INFL | Horizon Kinetics Infl Benef | +0.2% | -0.22% | Trim |
| 22 | HEI-A | Heico Corp-class A | +0.2% | -0.38% | Trim |
| 23 | JNJ | Johnson & Johnson | +0.2% | — | Unchanged |
| 24 | AXP | American Express Co | +0.1% | — | Unchanged |
| 25 | ARCC | Ares Capital CORP | +0.1% | — | Unchanged |
| 26 | NXPI | NXP Semiconductors N.V. | +0.1% | +2.47% | Add |
| 27 | TSLX | Sixth Street Specialty Lendi | +0.1% | — | Unchanged |
| 28 | CBRE | Cbre Group Inc - A | 0% | — | Unchanged |
| 29 | SIRI | Sirius Xm Holdings Inc | 0% | — | Unchanged |
| 30 | WSO | Watsco Inc | -0.1% | +1.31% | Add |
| 31 | MAX | Mediaalpha Inc-class A | -1% | -12.03% | Trim |
| 32 | OCSL | Oaktree Specialty Lending Co | -1.2% | EXIT | Sold out |
| 33 | SLRC | Slr Investment CORP | -2.1% | EXIT | Sold out |
| 34 | AKRE | Akre Focus ETF | -2.2% | EXIT | Sold out |
| 35 | MAC | Macerich Co/the | -3% | EXIT | Sold out |
| 36 | ASML | ASML Holding N.V. | -3.2% | -68.68% | Trim |
| 37 | NVR | Nvr Inc | -6.5% | EXIT | Sold out |
Filing History
FAQ
What is Triad Investment Management and what type of investor is it?
Triad Investment Management 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 $75.4M, spread across 32 disclosed positions.
What are Triad Investment Management's largest equity positions?
Based on the latest 13F filing, Triad Investment Management's top holdings by market value are:
1. Gartner Inc (IT) — $6.1M (8.1%)
2. Visa Inc-class A Shares (V) — $5.5M (7.3%)
3. Alphabet Inc-cl C (GOOG) — $5.2M (7.0%)
4. White Mountains Insurance Group, Ltd. (WTM) — $4.8M (6.4%)
5. Roper Technologies Inc (ROP) — $4.4M (5.8%)
What changes did Triad Investment Management make in its most recent portfolio filing?
In the latest reported quarter, Triad Investment Management made 31 notable position adjustments: 3 new positions were initiated, 15 existing holdings were added to, 8 positions were partially reduced, and 5 were completely exited. The largest of these moves: Sold out: Nvr Inc (NVR); Sold out: Macerich Co/the (MAC); Sold out: Akre Focus ETF (AKRE); Sold out: Slr Investment CORP (SLRC); Sold out: Oaktree Specialty Lending Co (OCSL)
What sectors does Triad Investment Management focus on?
Triad Investment Management is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 41.1%
• Financials: 39.5%
• Communication Services: 9.8%
• Consumer Discretionary: 6.3%
• Health Care: 1.5%
• Industrials: 1.3%
* 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
Triad Investment Management returned an annualized 5.2% over the trailing 36 months — underperforming the S&P 500 by 14.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.89 (less volatile than the market) and a 31% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 41.1% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 32 over the past 4 quarters — a shift toward more active trading.
It has added to its MSFT position over the past two quarters (+$2.1M, now $3.5M), while trimming GOOG over the same stretch (-$13.8M, still holding $5.2M).
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