Fourth Sail Capital LP

CIK 0001803158 · Q1 2026

13F Equity AUM

$608.4M

-2.4% QoQ

Positions

-5 QoQ

AUM Rank

#3,834

Top 31%

Skill Alpha (FF)

-14.2%/yr^ns

No Clear Edge

Rank #8,087 · Top 98%

vs S&P -7.0%/yr (unadj.)

Quarters Tracked

~2 years

Portfolio Concentration

Top 5: 40.9%Top 10: 62.6%Top 20: 93.2%

NATL14.5%

MLB19.4%

BCO7.1%

SFD5.1%

DLO4.8%

TEO4.8%

LOMA4.5%

TECK/B4.3%

VZLA4.1%

LILAB4.0%

Others (15)37.4%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology19.9%

Basic Materials19.6%

Consumer Defensive14.1%

Industrials11.4%

Communication Services10.1%

Consumer Cyclical9.4%

Energy9.2%

Utilities3.2%

Other3.0%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 25Median: 3.18%Avg: 4.00%

0–0.5%

0(0.0%)

0.5–1%

2(1.2%)

1–3%

8(19.6%)

3–5%

11(43.2%)

5%+

4(36.1%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 25Unique: 0vs 20 funds

0.3%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

0.5%

JPMORGAN CHASE & CO

0.5%

BANK OF AMERICA CORP /DE/

0.4%

BlackRock, Inc.

0.5%

GEODE CAPITAL MANAGEMENT, LLC

0.5%

STATE STREET CORP

0.5%

VANGUARD CAPITAL MANAGEMENT LLC

0.4%

FMR LLC

0.5%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.5%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New8Increased9Decreased7Exited13

New Positions

MLB19.4%

+33K

BCO7.1%

+415K

MEOH3.2%

+324K

IFS3.0%

+370K

VIST3.0%

+240K

YPF2.8%

+364K

EMBJ1.8%

+186K

SSF0.6%

+43K

Increased

TEO4.8%

+2.0M(+451%)

VZLA4.1%

+1.4M(+23%)

NATL14.5%

+1.1M(+130%)

AVO2.5%

+1.0M(+1674%)

DLO4.8%

+443K(+24%)

TECK/B4.3%

+351K(+236%)

SLVM3.0%

+77K(+22%)

LOMA4.5%

+66K(+3%)

CPA2.5%

+7K(+5%)

Decreased

GDYN0.6%

-3,217,646(-84%)

HRL3.8%

-423,800(-29%)

GPRK3.5%

-170,475(-7%)

LILAB4.0%

-139,953(-5%)

CVGW2.7%

-68,080(-10%)

CEPU3.2%

-40,726(-3%)

SFD5.1%

-24,454(-2%)

Exited

-2,847,061

-142,600

-120,988

-1,100,000

-2,589,752

-1,190,557

-109,416

-346,991

-868,717

-308,728

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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