TC
Two Creeks Capital Management, LP Investment Portfolio (Q2 2026) — 13F Stock Holdings
Two Creeks Capital Management, LPCIK: 0001606430
High-turnover traderConcentrated strategyContrarian
Total reported value
$139.5M
Reporting period: 2026-06-30 · Number of holdings: 13
Two Creeks Capital Management, LP disclosed 13 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $139.5M and a quarterly turnover rate of 182.8%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 100
- Momentum
- 0
- Sector conviction
- 77.14
- Diversification
- 26
- Sizing Uniformity
- 77.25
Two Creeks Capital Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.445 — mathematically equivalent to about 2 equally-sized positions, well below its 13 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.28), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward initiating meaningfully larger new positions than it adds to existing ones (a 65.6 percentage-point tilt) — a pattern consistent with a more contrarian, new-idea-driven approach.
Sector classification currently covers about 34% 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.govNew buy ACWI
Sold out DHR
Sold out MSFT
Sold out ESE
Trim UBER
-95.6% -$68.0M
Sold out MIR
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 | ACWI | Ishares Msci Acwi ETF | ETF-Other | 65.62% | +65.62% | NEW | |
| 2 | FND | Floor & Decor Holdings Inc-a | Stock-Consumer Disc | 7.34% | +1.29% | -85.14% | |
| 3 | V | Visa Inc-class A Shares | Stock-Financials | 5.26% | -1.59% | -90.32% | |
| 4 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 3.96% | -2.35% | -93.64% | |
| 5 | ASML | ASML Holding N.V. | Stock-Tech | 3.60% | -0.86% | -92.32% | |
| 6 | HDB | Hdfc Bank Ltd-adr | Stock-Financials | 2.88% | +1.42% | -72.79% | |
| 7 | TLN | Talen Energy CORP | Stock-Utilities | 2.86% | -4.51% | -95.38% | |
| 8 | UBER | Uber Technologies Inc | Stock-Industrials | 2.23% | -5.07% | -95.64% | |
| 9 | CMG | Chipotle Mexican Grill Inc | Stock-Consumer Disc | 1.72% | -2.84% | -94.91% | |
| 10 | U | Unity Software Inc | Stock-Tech | 1.34% | -3.13% | -96.69% | |
| 11 | WING | Wingstop Inc | Stock-Consumer Disc | 1.31% | -1.44% | -93.90% | |
| 12 | GRAB | Grab Holdings Limited | Stock-Tech | 1.04% | -2.32% | -95.68% | |
| 13 | ABNB | Airbnb Inc-class A | Stock-Consumer Disc | 0.85% | -3.77% | -97.69% |
Portfolio Performance
Performance for Q3 2026
+6%
Performance Last 4 Quarters
-7.9%
- Stdev
- +15.6%
- Beta
- +0.99
- Alpha
- -13.8%
- Max Drawdown
- -16.5%
- Annualized Perf
- +4.8%
- Batting Avg vs S&P
- +27.8%
- Sortino
- +0.59
- Stutzer
- +0.11
- Treynor
- +0.06
- Sterling
- +0.24
- Calmar
- +0.29
- Information Ratio
- -1.58
- Tracking Error
- +8.9%
- Stdev Down
- +10%
- Winning Months %
- +52.8%
- Losing Months %
- +47.2%
- Best 12 Months
- +29.2%
- Worst 12 Months
- -9%
- Efficiency Ratio
- +0.12
- Sharpe
- +0.38
- Stdev Sectors
- +10.7%
- Skewness
- -0.11
- Kurtosis
- -0.42
- Upside Potential
- +2.5
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 13 | $139.5M | 100 | ||
| 2026 Q1 | 22 | $973.8M | 59 | ||
| 2025 Q4 | 26 | $1.2B | 48 | ||
| 2025 Q3 | 25 | $1.4B | 67 | ||
| 2025 Q2 | 27 | $1.5B | 0 | ||
| 2025 Q1 | 23 | $1.6B | 100 | ||
| 2024 Q4 | 22 | $1.6B | 0 | ||
| 2024 Q3 | 18 | $1.5B | 0 | ||
| 2024 Q2 | 18 | $1.6B | 0 | ||
| 2024 Q1 | 17 | $1.7B | 0 | ||
| 2023 Q4 | 16 | $1.6B | 0 | ||
| 2023 Q3 | 16 | $1.6B | 0 | ||
| 2023 Q2 | 16 | $1.7B | 0 | ||
| 2023 Q1 | 15 | $1.5B | 0 | ||
| 2022 Q4 | 14 | $1.4B | 0 | ||
| 2022 Q3 | 13 | $1.4B | 0 | ||
| 2022 Q2 | 16 | $1.5B | 0 | ||
| 2022 Q1 | 15 | $1.8B | 0 | ||
| 2021 Q4 | 17 | $2.0B | 0 | ||
| 2021 Q3 | 18 | $1.9B | 0 | ||
| 2021 Q2 | 16 | $1.8B | 97 | ||
| 2021 Q1 | 16 | $1.6B | 31 | ||
| 2020 Q4 | 16 | $1.8B | 31 | ||
| 2020 Q3 | 17 | $1.5B | 12 | ||
| 2020 Q2 | 17 | $1.4B | 25 | ||
| 2020 Q1 | 17 | $1.2B | 40 | ||
| 2019 Q4 | 20 | $1.5B | 20 | ||
| 2019 Q3 | 20 | $1.5B | 27 | ||
| 2019 Q2 | 20 | $1.6B | 24 | ||
| 2019 Q1 | 21 | $1.5B | 33 | ||
| 2018 Q4 | 22 | $1.5B | 37 | ||
| 2018 Q3 | 24 | $1.8B | 20 | ||
| 2018 Q2 | 27 | $1.9B | 25 | ||
| 2018 Q1 | 26 | $1.8B | 32 | ||
| 2017 Q4 | 26 | $1.9B | 30 | ||
| 2017 Q3 | 23 | $1.8B | 36 | ||
| 2017 Q2 | 17 | $1.6B | 48 | ||
| 2017 Q1 | 16 | $1.7B | 47 | ||
| 2016 Q4 | 14 | $1.6B | 36 | ||
| 2016 Q3 | 11 | $1.6B | 38 | ||
| 2016 Q2 | 11 | $1.5B | 43 | ||
| 2016 Q1 | 11 | $1.2B | 34 | ||
| 2015 Q4 | 10 | $1.2B | 54 | ||
| 2015 Q3 | 10 | $988.0M | 57 | ||
| 2015 Q2 | 15 | $1.0B | 31 | ||
| 2015 Q1 | 13 | $916.6M | 20 | ||
| 2014 Q4 | 12 | $838.2M | 0 |
* 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.
Holding changes this quarter
Two Creeks Capital Management, LP's most significant position changes for 2026-06-30: New buy: Ishares Msci Acwi ETF (ACWI); Sold out: Danaher CORP (DHR); Sold out: Microsoft CORP (MSFT); Sold out: Esco Technologies Inc (ESE); Sold out: Mirion Technologies Inc (MIR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ACWI | Ishares Msci Acwi ETF | +65.6% | NEW | New buy |
| 2 | HDB | Hdfc Bank Ltd-adr | +1.4% | -72.79% | Trim |
| 3 | FND | Floor & Decor Holdings Inc-a | +1.3% | -85.14% | Trim |
| 4 | ASML | ASML Holding N.V. | -0.9% | -92.32% | Trim |
| 5 | RTO | Rentokil Initial Plc-sp Adr | -1.1% | EXIT | Sold out |
| 6 | WING | Wingstop Inc | -1.4% | -93.90% | Trim |
| 7 | V | Visa Inc-class A Shares | -1.6% | -90.32% | Trim |
| 8 | CNM | Core & Main Inc-class A | -2.1% | EXIT | Sold out |
| 9 | GRAB | Grab Holdings Limited | -2.3% | -95.68% | Trim |
| 10 | TSM | Taiwan Semiconductor-sp Adr | -2.4% | -93.64% | Trim |
| 11 | FCX | Freeport-mcmoran Inc | -2.4% | EXIT | Sold out |
| 12 | AAP | Advance Auto Parts Inc | -2.8% | EXIT | Sold out |
| 13 | CMG | Chipotle Mexican Grill Inc | -2.8% | -94.91% | Trim |
| 14 | U | Unity Software Inc | -3.1% | -96.69% | Trim |
| 15 | ABNB | Airbnb Inc-class A | -3.8% | -97.69% | Trim |
| 16 | TLN | Talen Energy CORP | -4.5% | -95.38% | Trim |
| 17 | PLNT | Planet Fitness Inc - Cl A | -4.6% | EXIT | Sold out |
| 18 | MA | Mastercard Inc - A | -4.7% | EXIT | Sold out |
| 19 | MIR | Mirion Technologies Inc | -4.7% | EXIT | Sold out |
| 20 | UBER | Uber Technologies Inc | -5.1% | -95.64% | Trim |
| 21 | ESE | Esco Technologies Inc | -5.2% | EXIT | Sold out |
| 22 | MSFT | Microsoft CORP | -6% | EXIT | Sold out |
| 23 | DHR | Danaher CORP | -6.9% | EXIT | Sold out |
Filing History
FAQ
What is Two Creeks Capital Management, LP and what type of investor is it?
Two Creeks Capital 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 (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $139.5M, spread across 13 disclosed positions.
What are Two Creeks Capital Management, LP's largest equity positions?
Based on the latest 13F filing, Two Creeks Capital Management, LP's top holdings by market value are:
1. Ishares Msci Acwi ETF (ACWI) — $91.6M (65.6%)
2. Floor & Decor Holdings Inc-a (FND) — $10.2M (7.3%)
3. Visa Inc-class A Shares (V) — $7.3M (5.3%)
4. Taiwan Semiconductor-sp Adr (TSM) — $5.5M (4.0%)
5. ASML Holding N.V. (ASML) — $5.0M (3.6%)
What changes did Two Creeks Capital Management, LP make in its most recent portfolio filing?
In the latest reported quarter, Two Creeks Capital Management, LP made 23 notable position adjustments: 1 new positions were initiated, 0 existing holdings were added to, 12 positions were partially reduced, and 10 were completely exited. The largest of these moves: New buy: Ishares Msci Acwi ETF (ACWI); Sold out: Danaher CORP (DHR); Sold out: Microsoft CORP (MSFT); Sold out: Esco Technologies Inc (ESE); Sold out: Mirion Technologies Inc (MIR)
What sectors does Two Creeks Capital Management, LP focus on?
Two Creeks Capital Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Consumer Discretionary: 32.6%
• Information Technology: 28.9%
• Financials: 23.6%
• Utilities: 8.3%
• Industrials: 6.5%
Investment Profile
Two Creeks Capital Management, LP returned an annualized 4.8% over the trailing 36 months — underperforming the S&P 500 by 13.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.98 (roughly in line with the market) and a 28% quarterly batting average against the index.
Its portfolio is concentrated and fast-trading, with 32.6% of the portfolio concentrated in Consumer Discretionary.
Its turnover score has risen from 0 to 100 over the past 4 quarters — a shift toward more active trading.
It has trimmed its FND position for two straight quarters, cutting it by $73.4M while still holding $10.2M.
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Developer Access
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REST API
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