Spinecap SAS
PARIS, I0
$335m in 16 US stocks at the end of 30 June 2026. The top 10 are 81.6% of the money. It changed about 11.0% of the portfolio this quarter.
Value
$335m
Stocks
16
Top 10 share
81.6%
Turnover
11.0%
What changed this quarter
New
Bought for the first time this quarter.
- Sunbelt Rentals HoldingsSUNB10.6% of the fund
Added
Bought more of a stock they already held.
- MastercardMA12.1% of the fund+10%
- Thermo Fisher ScientificTMO10.9% of the fund+4%
- MicrosoftMSFT9.7% of the fund+3%
- KKRKKR5.7% of the fund+29%
- DanaherDHR3.6% of the fund+27%
- VisaV3.4% of the fund+5%
- SynopsysSNPS3.3% of the fund+6%
- Intercontinental ExchangeICE2.9% of the fund+28%
Cut
Sold some of their stake.
- AlphabetGOOGL10.9% of the fund-8%
- TransDigm GroupTDG3.3% of the fund-3%
- BroadcomAVGO3.2% of the fund-11%
- Amazon.comAMZN3.1% of the fund-10%
- BlackRockBLK2.9% of the fund-3%
Sold out
Sold their entire stake.
None this quarter.
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| MastercardMA | 12.1% | $41m | 79,137 | +10% |
| Apollo Global ManagementAPO | 11.4% | $38m | 321,513 | Held |
| AlphabetGOOGL | 10.9% | $37m | 102,204 | -8% |
| Thermo Fisher ScientificTMO | 10.9% | $36m | 72,481 | +4% |
| Sunbelt Rentals HoldingsSUNB | 10.6% | $36m | 476,262 | New |
| MicrosoftMSFT | 9.7% | $32m | 86,879 | +3% |
| KKRKKR | 5.7% | $19m | 207,250 | +29% |
| DanaherDHR | 3.6% | $12m | 62,846 | +27% |
| VisaV | 3.4% | $11m | 32,857 | +5% |
| SynopsysSNPS | 3.3% | $11m | 25,016 | +6% |
| TransDigm GroupTDG | 3.3% | $11m | 8,189 | -3% |
| BroadcomAVGO | 3.2% | $11m | 28,541 | -11% |
| BlackstoneBX | 3.1% | $10m | 88,740 | Held |
| Amazon.comAMZN | 3.1% | $10m | 43,353 | -10% |
| BlackRockBLK | 2.9% | $10m | 10,047 | -3% |
| Intercontinental ExchangeICE | 2.9% | $10m | 77,981 | +28% |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 74.2% since 30 June 2025.
Where the money is
Financial services41.4%
Technology26.9%
Health care14.4%
Media & telecom10.9%
Industrials3.3%
Retail & consumer3.1%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.