Rule One Partners, LLC
Portfolio value QoQ: +589.4% 13F does not disclose cash
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 2.96% Est. buys $619,495,157 · sells $11,774,287
Median holding: 1.0 quarters Tracked Q1 2025–Q2 2026 · 42.4% still held
Put-notional exposure: 84.0% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets
Performance vs S&P 500
Annualized: -38.0% · S&P 500: +28.7%
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.
Sector breakdown
Full portfolio 14 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| Unknown issuer (CUSIP: 78462F953) | $532,408,500 | 76.71% | 718,500 | Put option | |||
| Unknown issuer (CUSIP: 464287953) | $42,390,150 | 6.11% | 69,000 | Put option | Up ×1 | ||
| NFLX | $29,880,900 | 4.31% | 405,000 | $-7,136,850 | Up ×1 | ||
| Unknown issuer (CUSIP: 98978V903) | $18,056,125 | 2.60% | 246,500 | Call option | Up ×1 | ||
| SFM | $17,253,980 | 2.49% | 210,800 | $1,133,810 | Up ×3 | ||
| CRM | $15,635,228 | 2.25% | 99,001 | $-605,062 | Up ×1 | ||
| LULU | $14,583,404 | 2.10% | 127,600 | $-1,369,616 | Up ×1 | ||
| POOL | $6,031,382 | 0.87% | 28,501 | $4,311,375 | Up ×2 | ||
| Unknown issuer (CUSIP: 73278L955) | $4,655,640 | 0.67% | 22,000 | Put option | Up ×1 | ||
| ZTS | $4,395,073 | 0.63% | 60,001 | Up ×1 | |||
| MSFT | $3,685,700 | 0.53% | 10,000 | Put option | Up ×1 | ||
| MSFT | $2,027,135 | 0.29% | 5,500 | Up ×1 | |||
| PYPL | $1,553,344 | 0.22% | 35,001 | $-29,751 | |||
| NKE | $1,534,801 | 0.22% | 37,001 | $1,429,049 | Up ×1 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| SFM | $17,253,980 | 2.49% | up ×3 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| Unknown issuer (CUSIP: 78462F953) | $532,408,500 | 718,500 | 76.71% |
| Unknown issuer (CUSIP: 464287953) | $42,390,150 | 69,000 | 6.11% |
| Unknown issuer (CUSIP: 98978V903) | $18,056,125 | 246,500 | 2.60% |
| Unknown issuer (CUSIP: 73278L955) | $4,655,640 | 22,000 | 0.67% |
| ZTS | $4,395,073 | 60,001 | 0.63% |
| MSFT | $3,685,700 | 10,000 | 0.53% |
| MSFT | $2,027,135 | 5,500 | 0.29% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| NFLX | Bought more | +20K | -$7.1M |
| POOL | Bought more | +20K | +$4.3M |
| LULU | Bought more | +23K | -$1.4M |
| SFM | Bought more | +2K | +$1.1M |
| CRM | Bought more | +12K | -$605K |
| PYPL | Price move only | +0 | -$30K |
1 position hidden — reported move looks larger than the position itself (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.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| OXY | Dec. 31, 2025 | 275,501 | $13,251,598 | 41.2% |
| GOOGL | June 30, 2025 | 63,010 | $9,743,866 | 94.9% |
| ASML | June 30, 2026 | 7,101 | $9,379,214 | -6.1% |
| LOW | June 30, 2026 | 10,001 | $2,363,063 | -18.0% |
| LRCX | June 30, 2025 | 32,000 | $2,326,400 | 257.0% |
| AMAT | June 30, 2025 | 15,000 | $2,176,800 | 195.0% |
| PYPL | June 30, 2025 | 32,000 | $2,088,000 | -29.0% |
| ULTA | June 30, 2025 | 5,101 | $1,869,720 | 16.2% |
| HHH | March 31, 2026 | 12,001 | $957,320 | 12.3% |
| TXRH | March 31, 2026 | 1,501 | $249,166 | -5.4% |
| GDX | June 30, 2025 | 5,001 | $229,895 | 68.6% |
| CMG | June 30, 2026 | 1,000 | $32,010 | -4.8% |