LB Partners LLC

CIK 2007877 · View on SEC EDGAR ↗

Portfolio value
$146.6M
#7,469 of 9,443 by 13F value · top 79.1%
Positions
34
As of
June 30, 2026

Portfolio value QoQ: +31.5% 13F does not disclose cash

Top 10 holdings weight
80.07%
Top 25 holdings weight
98.75%
Positions above 1%
19
Effective number of positions
11.1

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 20.48% Est. buys $29,568,338 · sells $26,443,674

Median holding: 3.5 quarters Tracked Q4 2024–Q2 2026 · 68.0% still held

New positions
3
Increased
8
Decreased
5
Closed
6
On this page

Performance vs S&P 500

Tracked Q3 2025–Q2 2026
+8.5%
S&P 500 total return (same window)
+13.0%
Excess return
-4.5%

Annualized: +11.5% · S&P 500: +17.7%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 94.1% · Options excluded: 0.0%

Sector breakdown

Financial Services
59.2%
Communication Services
21.4%
Technology
8.3%
Telecommunication
6.2%
Retail
3.4%
Energy
0.5%
Materials
0.3%
Real Estate
0.2%
Other/Unmapped
0.5%

Full portfolio 34 positions

Type Streak 8Q trend
RELY Remitly Global, Inc. - Common stock $28,415,880 19.38% 1,268,000 $4,453,394 Down ×1
NIQ NIQ Global Intelligence plc Ordinary Shares $18,065,771 12.32% 1,932,168 $13,521,182 Up ×3
LPRO Open Lending Corporation - Common Stock $15,086,116 10.29% 4,850,841 $8,335,065 Down ×1
COF Capital One Financial Corporation Common Stock $14,054,635 9.58% 70,056 $1,274,319
AXP American Express Company Common Stock $10,147,500 6.92% 30,000 $1,073,100
TIGO Millicom International Cellular S.A. - Common Stock $6,988,520 4.77% 77,000 $-3,727,900 Down ×5
MU Micron Technology, Inc. - Common Stock $6,925,740 4.72% 6,000 $5,574,380 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $6,790,030 4.63% 19,000 $1,326,390
OPFI OppFi Inc. Class A Common Stock $6,280,725 4.28% 632,500 $2,425,725 Up ×1
FOUR Shift4 Payments, Inc. Class A Common Stock $4,669,440 3.18% 96,000 $3,357,540 Up ×1
TOST Toast, Inc. Class A Common Stock $4,312,100 2.94% 155,000 Up ×1
LBRDK Liberty Broadband Corporation - Class C Common Stock $3,661,095 2.50% 110,075 $2,751,922 Up ×1
SPT Sprout Social, Inc - Class A Common Stock $3,621,984 2.47% 479,733 $-4,990,596 Down ×1
GOOG Alphabet Inc. - Class C Capital Stock $2,826,640 1.93% 8,000 $531,760
GOGO Gogo Inc. - Common Stock $2,117,505 1.44% 683,066 $-1,114,712 Down ×1
AMZN Amazon.com, Inc. - Common Stock $1,906,720 1.30% 8,000 $240,560
PDD PDD Holdings Inc. - American Depositary Shares $1,678,160 1.14% 22,000 $-569,800
NVDA NVIDIA Corporation - Common Stock $1,600,720 1.09% 8,000 $554,320 Up ×1
KKR KKR & Co. Inc. Common Stock $1,569,438 1.07% 17,100 $-12,312
TBBB BBB Foods Inc. Class A Common Shares $1,458,450 0.99% 35,000 $220,500
PYPL PayPal Holdings, Inc. - Common Stock $971,550 0.66% 22,500 $66,950 Up ×1
TFPM Triple Flag Precious Metals Corp. Common Shares $446,943 0.30% 14,913 $-70,687
SGOL $420,530 0.29% 11,000 $-70,290
DVN Devon Energy Corporation Common Stock $413,200 0.28% 10,000 $-90,000
FDS FactSet Research Systems Inc. Common Stock $387,685 0.26% 1,685 Up ×1
IMXI International Money Express, Inc. - Common Stock $332,350 0.23% 23,000 $-31,050
SPGI S&P Global Inc. Common Stock $305,445 0.21% 750 $-13,560
MTA $273,960 0.19% 36,000 $35,280
FRPH FRP Holdings, Inc. - Common Stock $239,454 0.16% 9,582 $29,800
CVX Chevron Corporation Common Stock $232,064 0.16% 1,400 $-57,596
BSM Black Stone Minerals, L.P. Common units representing limited partner interests $139,700 0.10% 10,000 $-11,500
MFIC MidCap Financial Investment Corporation - Closed End Fund $120,960 0.08% 12,000 $8,560 Up ×1
FSK FS KKR Capital Corp. Common Stock $117,222 0.08% 11,164 Up ×1
Unknown issuer (CUSIP: 12685JAG0) $67,500 0.05% 100,000 $-7,500

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
NIQ $18,065,771 12.32% up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
TOST $4,312,100 155,000 2.94%
FDS $387,685 1,685 0.26%
FSK $117,222 11,164 0.08%

Top movers (QoQ)

Security Action Shares Δ Value Δ
NIQ Bought more +1.5M +$13.5M
LPRO Trimmed -550K +$8.3M
SPT Trimmed -1.0M -$5.0M
RELY Trimmed -261K +$4.5M
TIGO Trimmed -66K -$3.7M
FOUR Bought more +66K +$3.4M
LBRDK Bought more +92K +$2.8M
OPFI Bought more +132K +$2.4M
GOOGL Price move only +0 +$1.3M
COF Price move only +0 +$1.3M

1 position hidden (data completeness check)

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
WOW Dec. 31, 2025 3,877,126 $20,005,970 No longer tracked
DFS June 30, 2025 62,850 $10,632,334 No longer tracked
LQDA Dec. 31, 2025 200,000 $4,548,000 114.1%
DBRG Dec. 31, 2025 210,000 $2,457,000 3.7%
THRY March 31, 2026 249,705 $1,510,715 -25.0%
FISV June 30, 2026 27,000 $1,506,600 7.5%
GTLB June 30, 2026 60,000 $1,298,400 35.9%
OKTA March 31, 2025 15,000 $1,182,000 32.6%
ESTC March 31, 2025 10,000 $990,800 -3.9%
GPN June 30, 2026 10,000 $673,000 27.0%
APP June 30, 2025 2,500 $666,363 -11.6%
NOW June 30, 2026 6,000 $627,300 24.4%
AMRZ Dec. 31, 2025 10,000 $485,300 -15.5%
GLIBK June 30, 2026 10,815 $402,426 24.6%
OXY June 30, 2026 3,400 $221,000 24.2%
WU March 31, 2026 10,000 $93,100 -16.8%