Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供背景参考 · 非买入清单
D1 Capital Partners
tiger_crossover
B
Reliability improving可靠性走强
leaderboard rank榜单排名 #21WATCH观察
Book持仓规模
$11.2B
long US listed only仅美股多头
Positions持仓数
44
91% resolved已解析
Top-10 concentration前十集中度
42%
% of book占组合%
Turnover换手
MED
34.4% per quarter每季
Median excess中位超额
-10%
buys vs SPY, since filing买入相对SPY，自申报起 · n 196
Hit rate胜率
36%
share of buys beating SPY跑赢SPY的买入占比
Core lean — the 10-second read核心倾向 — 10秒速读
Core lean: Technology (Equal-Weight) — added TXN, AVGO, NVDA, ADI (+9.0pp of book this quarter)核心倾向：信息技术（等权） — 本季度加仓 TXN、AVGO、NVDA、ADI（占组合 +9.0pp）
Technology (Equal-Weight)信息技术（等权）
+9.0pp
12.0% of book held占组合持有
· 6 names标的
· US Sectors (EW)
TXN
AVGO
NVDA
ADI
E-CommerceE-Commerce
+7.7pp
7.7% of book held占组合持有
· 2 names标的
· Software
MELI
CPNG
Consumer Discretionary (Equal-Weight)非必需消费（等权）
+7.1pp
7.1% of book held占组合持有
· 3 names标的
· US Sectors (EW)
AMZN
DASH
CVNA
Health Care (Equal-Weight)医疗保健（等权）
+7.1pp
7.1% of book held占组合持有
· 2 names标的
· US Sectors (EW)
DHR
TMO
Magnificent Seven七巨头
+7.0pp
7.0% of book held占组合持有
· 3 names标的
· AI & Technology
AMZNNVDA
GOOGL
MarketplacesMarketplaces
+5.8pp
5.8% of book held占组合持有
· 1 names标的
· E-commerce
MELI
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新申报的描述性解读——主题按精选篮子聚类（Finviz 兜底），added-pp = 本季度买入占组合百分比之和。非预测。
Grade & excess history评级与超额历史
per-quarter buy cohorts, scored on public filing dates vs SPY — descriptive ranks in a curated survivor cohort按季度买入队列，以公开申报日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: improving走强 · 12 scored quarters已评分季度 · 17% positive为正 · recent-4 median近4季中位 -9% vs all-time对全期 -12%
Median excess by quarter各季度中位超额: ▁▁▅▄█▄▃▅▂▄▅▇ (oldest → newest, shifted by the series minimum so negatives render由旧到新，按序列最小值平移以呈现负值)
| Quarter季度 | Buys买入数 | Median excess中位超额 | Hit胜率 | Median fwd 63d中位前瞻63日 |
|---|---|---|---|---|
| 2023-06-30 | 17 | -30% | 29% | +1% |
| 2023-09-30 | 18 | -33% | 22% | +4% |
| 2023-12-31 | 7 | -7% | 29% | +2% |
| 2024-03-31 | 16 | -13% | 38% | +2% |
| 2024-06-30 | 14 | +9% | 64% | +20% |
| 2024-09-30 | 11 | -14% | 46% | +3% |
| 2024-12-31 | 20 | -21% | 20% | +0% |
| 2025-03-31 | 23 | -5% | 44% | +0% |
| 2025-06-30 | 11 | -21% | 27% | -6% |
| 2025-09-30 | 16 | -11% | 19% | +1% |
| 2025-12-31 | 22 | -7% | 36% | -9% |
| 2026-03-31 | 21 | +7% | 57% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新申报；季度环比变化对上季Current weights当前权重 · 2026-03-31
Technology
24.6%
▲ +5.5pp
Industrials
13.0%
▼ -8.3pp
Communication Services
11.5%
▼ -4.0pp
Consumer Defensive
11.0%
▼ -1.5pp
Unclassified
10.3%
▲ +4.0pp
Consumer Cyclical
8.3%
▲ +5.4pp
Healthcare
7.1%
▲ +4.4pp
Financial
6.1%
▼ -1.8pp
Real Estate
5.0%
▼ -1.1pp
Basic Materials
3.0%
▼ -1.8pp
Theme categories主题类别
US Sectors (EW) 18.4%
AI & Technology 12.1%
Semiconductors & Hardware 3.9%
Financials 2.6%
Consumer Cyclical 2.3%
Industrials 0.7%
Rotating into (QoQ)轮入（环比）
Technology +5.5pp
Consumer Cyclical +5.4pp
Healthcare +4.4pp
Rotating out of (QoQ)轮出（环比）
Industrials -8.3pp
Communication Services -4.0pp
Basic Materials -1.8pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-03-31 | Technology 25% · Industrials 13% · Communication Services 12% |
| 2025-12-31 | Industrials 21% · Technology 19% · Communication Services 16% |
| 2025-09-30 | Industrials 25% · Consumer Defensive 17% · Technology 16% |
| 2025-06-30 | Industrials 24% · Consumer Defensive 20% · Financial 17% |
| 2025-03-31 | Consumer Defensive 22% · Industrials 17% · Financial 15% |
| 2024-12-31 | Consumer Defensive 28% · Consumer Cyclical 17% · Technology 14% |
| 2024-09-30 | Consumer Defensive 28% · Consumer Cyclical 19% · Communication Services 14% |
| 2024-06-30 | Consumer Defensive 29% · Consumer Cyclical 22% · Communication Services 11% |
| 2024-03-31 | Consumer Defensive 29% · Communication Services 20% · Healthcare 12% |
| 2023-12-31 | Consumer Defensive 20% · Consumer Cyclical 17% · Communication Services 16% |
| 2023-09-30 | Consumer Cyclical 22% · Consumer Defensive 16% · Technology 13% |
| 2023-06-30 | Consumer Cyclical 28% · Healthcare 19% · Real Estate 15% |
Full book完整持仓
every resolved position as filed — click a column header to sort. Conviction is a descriptive composite, not a forecast.截至申报日的全部已解析持仓——点击列头排序。信念分为描述性综合指标，非预测。40 positions shown项持仓 · resolved已解析 40/44 (91%) · unresolved CUSIPs are excluded from this table but counted in book totals未解析CUSIP不列入本表，但计入组合总额
| #↕ | Ticker标的 ↕ | Company公司 ↕ | % book仓位% ↕ | Value金额 ↕ | Action动作 ↕ | Δ sharesΔ股数 ↕ | Add streak连加季数 ↕ | Conviction信念分 ↕ | Sector行业 ↕ | Themes主题 | Since filing自申报 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  CART |
Maplebear Inc | 7.5% | $845M | hold | +0% | — | 70 · HIGH | Consumer Defensive | Ads & Media, Grocery | +17% |
| 2 | MELI |
Mercadolibre Inc | 5.8% | $646M | add | +66% | 3q | 84 · HIGH | Technology | E-Commerce, Marketplaces | +18% |
| 3 | DHR |
Danaher Corp Del | 3.9% | $437M | add | +312% | 1q | 73 · HIGH | Healthcare | Health Care (Equal-Weight) | +24% |
| 4 |  FLS |
Flowserve Corp | 3.8% | $432M | trim | -23% | — | 67 · MODERATE | Industrials | — | +2% |
| 5 |  USFD |
Us Foods Hldg Corp | 3.5% | $395M | hold | +0% | — | 66 · MODERATE | Consumer Defensive | Processing | +15% |
| 6 |  CLH |
Clean Harbors Inc | 3.4% | $384M | trim | -52% | — | 66 · MODERATE | Industrials | Waste | +2% |
| 7 | AMZN |
Amazon Com Inc | 3.4% | $376M | add | +35% | 2q | 75 · HIGH | Consumer Cyclical | Magnificent Seven, Consumer Discretionary (Equal-Weight) | -6% |
| 8 | TMO |
Thermo Fisher Scientific Inc | 3.2% | $356M | new | — | 1q | 69 · MODERATE | Healthcare | Health Care (Equal-Weight) | +20% |
| 9 |  SGI |
Somnigroup International Inc | 3.1% | $347M | new | — | 1q | 78 · HIGH | Consumer Cyclical | — | +12% |
| 10 | TXN |
Texas Instrs Inc | 3.0% | $340M | add | +261% | 2q | 72 · HIGH | Technology | Non-AI Tech & Hardware, Technology (Equal-Weight) | -7% |
| 11 |  SE |
Sea Ltd | 3.0% | $336M | add | +16% | 3q | 61 · MODERATE | Communication Services | — | +19% |
| 12 |  RDDT |
Reddit Inc | 3.0% | $331M | add | +16% | 1q | 50 · MODERATE | Communication Services | Networks, Advertising, Niche | +14% |
| 13 |  KRC |
Kilroy Realty Corp | 2.8% | $318M | hold | +8% | — | 44 · LOW | Real Estate | Office | +15% |
| 14 |  KNX |
Knight-Swift Transn Hldgs In | 2.8% | $316M | trim | -29% | — | 44 · LOW | Industrials | Trucking | +9% |
| 15 | AVGO |
Broadcom Inc | 2.7% | $304M | add | +174% | 1q | 48 · MODERATE | Technology | AI Infrastructure, AI Semiconductors, Technology (Equal-Weight) | -11% |
| 16 | NVDA |
Nvidia Corporation | 2.4% | $274M | add | +36% | 3q | 57 · MODERATE | Technology | Magnificent Seven, AI Infrastructure, AI Semiconductors | -10% |
| 17 |  APP |
Applovin Corp | 2.4% | $266M | hold | +0% | — | 41 · LOW | Technology | AI Software & Platforms, AI Agents & Applications, Technology (Equal-Weight) | -16% |
| 18 |  XPO |
Xpo Inc | 2.2% | $251M | trim | -37% | — | 30 · LOW | Industrials | Trucking | +3% |
| 19 |  LINE |
Lineage Inc | 2.2% | $242M | hold | +0% | — | 29 · LOW | Real Estate | — | — |
| 20 |  DIS |
Disney Walt Co | 2.0% | $227M | hold | +6% | — | 28 · LOW | Communication Services | Communication Services (Equal-Weight) | -6% |
| 21 |  SCHW |
Schwab Charles Corp | 2.0% | $222M | trim | -25% | — | 28 · LOW | Financial | Financials (Equal-Weight) | +12% |
| 22 | CPNG |
Coupang Inc | 1.9% | $219M | new | — | 1q | 22 · LOW | Technology | E-Commerce, Grocery | +2% |
| 23 | DASH |
Doordash Inc | 1.9% | $216M | new | — | 1q | 21 · LOW | Technology | Consumer Discretionary (Equal-Weight) | +18% |
| 24 | CVNA |
Carvana Co | 1.9% | $210M | new | — | 1q | 30 · LOW | Consumer Cyclical | Consumer Discretionary (Equal-Weight) | -5% |
| 25 |  COF |
Capital One Finl Corp | 1.8% | $204M | add | +35% | 1q | 29 · LOW | Financial | Payments & Fintech, Financials (Equal-Weight) | +11% |
| 26 |  MLM |
Martin Marietta Matls Inc | 1.7% | $190M | new | — | 1q | 18 · LOW | Basic Materials | Materials (Equal-Weight) | -1% |
| 27 |  SPOT |
Spotify Technology S A | 1.5% | $165M | trim | -14% | — | 22 · LOW | Communication Services | Music | +12% |
| 28 |  CLS |
Celestica Inc | 1.4% | $153M | new | — | 1q | 16 · LOW | Technology | — | — |
| 29 |  SHW |
Sherwin Williams Co | 1.4% | $152M | trim | -51% | — | 20 · LOW | Basic Materials | Housing Chain, Materials (Equal-Weight) | +8% |
| 30 | GOOGL |
Alphabet Inc | 1.2% | $135M | new | — | 1q | 25 · LOW | Communication Services | Magnificent Seven, AI Software & Platforms, Quantum Computing | -12% |
| 31 |  APO |
Apollo Global Mgmt Inc | 1.1% | $129M | hold | +0% | — | 19 · LOW | Financial | Financials (Equal-Weight) | -13% |
| 32 |  TSM |
Taiwan Semiconductor Manufac | 1.0% | $111M | new | — | 1q | 13 · LOW | Technology | Compute, Compute, Foundries | -1% |
| 33 |  LYV |
Live Nation Entertainment In | 0.9% | $103M | new | — | 1q | 22 · LOW | Communication Services | Travel & Experiences, Communication Services (Equal-Weight) | +7% |
| 34 | ADI |
Analog Devices Inc | 0.8% | $93M | new | — | 1q | 21 · LOW | Technology | Non-AI Tech & Hardware, Technology (Equal-Weight) | -11% |
| 35 |  AFRM |
Affirm Hldgs Inc | 0.8% | $89M | add | +136% | 1q | 20 · LOW | Financial | Payments & Fintech | +14% |
| 36 |  FERG |
Ferguson Enterprises Inc | 0.7% | $81M | new | — | 1q | 9 · LOW | Industrials | Industrial Distribution & Capital Goods | — |
| 37 |  BLD* |
Topbuild Cor | 0.7% | $75M | new | — | 1q | 8 · LOW | — | — | — |
| 38 |  ADSK |
Autodesk Inc | 0.7% | $74M | trim | -32% | — | 13 · LOW | Technology | Technology (Equal-Weight) | -8% |
| 39 |  U |
Unity Software Inc | 0.6% | $72M | new | — | 1q | 7 · LOW | Technology | Gaming, Design, Software | +9% |
| 40 |  PURR |
Hyperliquid Strategies Inc | 0.4% | $41M | hold | +0% | — | 11 · LOW | Financial | — | — |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本申报周期，不设上限——新建/加仓与减持取自已解析持仓，清仓取自轮动数据Rotated into轮入 (24)
| MELI add |
5.8% | +18% |
| DHR add |
3.9% | +24% |
| AMZN add |
3.4% | -6% |
| TMO new |
3.2% | +20% |
| SGI new |
3.1% | +12% |
| TXN add |
3.0% | -7% |
| SE add |
3.0% | +19% |
| RDDT add |
3.0% | +14% |
| AVGO add |
2.7% | -11% |
| NVDA add |
2.4% | -10% |
| CPNG new |
1.9% | +2% |
| DASH new |
1.9% | +18% |
| CVNA new |
1.9% | -5% |
| COF add |
1.8% | +11% |
| MLM new |
1.7% | -1% |
| CLS new |
1.4% | — |
| GOOGL new |
1.2% | -12% |
| TSM new |
1.0% | -1% |
| LYV new |
0.9% | +7% |
| ADI new |
0.8% | -11% |
| AFRM add |
0.8% | +14% |
| FERG new |
0.7% | — |
| BLD* new |
0.7% | — |
| U new |
0.6% | +9% |
Rotated out of轮出 (18)
| FLS trim |
-23% | +2% |
| CLH trim |
-52% | +2% |
| KNX trim |
-29% | +9% |
| XPO trim |
-37% | +3% |
| SCHW trim |
-25% | +12% |
| SPOT trim |
-14% | +12% |
| SHW trim |
-51% | +8% |
| ADSK trim |
-32% | -8% |
 AEP exit |
-100% | +4% |
 ANET exit |
-100% | +19% |
 APG exit |
-100% | -9% |
 BAC exit |
-100% | +22% |
 CNM exit |
-100% | -7% |
 ENTG exit |
-100% | +0% |
 GEHC exit |
-100% | +3% |
 LIN exit |
-100% | +1% |
 META exit |
-100% | +5% |
 NI exit |
-100% | -2% |
Trade log交易记录
last 40 graded trades, filing-date anchored, newest first — variable hold vs SPY最近40笔已评分交易，以申报日为锚，最新在前——持有期不定，相对SPYNo graded trades available for this fund.该基金暂无已评分交易。
Caveats注意事项 —
13F = quarterly, ~45-day lag, long-only US listed ≥$100M. No shorts, no cash, no non-US positions. This desk is context — ownership is never a directional signal here.13F = 季度披露，约45天滞后，仅含美股多头且持仓≥1亿美元。不含空头、现金或非美股仓位。本台仅为背景参考——持仓数据在此永远不是方向性信号。
Grades and reliability are descriptive ranks within a curated survivor cohort — they measure what filings did after their filing dates, not a manager-selection edge. Conviction and core-lean reads are descriptive composites earning a forward record via the pre-registered ledger (L5); sector/theme classification applies the current map to history.评级与可靠性为精选幸存者队列中的描述性排名——衡量申报日之后持仓的表现，而非经理选择能力。信念分与核心倾向为描述性综合指标，通过预注册账本（L5）积累前瞻记录；行业/主题分类将当前映射应用于历史。