Managers / Q1 2026
Rings Capital Management LLC
CIK 0001771122 · 5100 N. RAVENSWOOD AVENUE, SUITE 109, CHICAGO, IL, 60640 · 773-654-3526
Summary
Rings Capital Management LLC reported $186M in U.S.-listed holdings across 7 positions for Q1 2026.
The portfolio is heavily concentrated: DUT alone accounts for 28.1% of reported value.
The book was largely unchanged from Q4 2025.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 87.7% · $163M
- Other · 12.3% · $23M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| CB1ACONSTELLATION BRANDS INC | ADDED | +42.0K | 48.0K | +$6M | $7M |
| MSFTMICROSOFT CORP | HELD | +0 | 83.0K | −$9M | $31M |
| DUTMOODYS CORP | HELD | +0 | 120.0K | −$9M | $52M |
| CHECK POINT SOFTWARE TECHNOLOGY LT | HELD | +0 | 160.0K | −$7M | $23M |
| KMXCARMAX INC | HELD | +0 | 949.0K | +$3M | $39M |
| RTXRTX CORPORATION | HELD | +0 | 165.0K | +$2M | $32M |
| HRBBLOCK H & R INC | HELD | +0 | 53.0K | −$627,520 | $2M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | DUTMOODYS CORPhistory → | COM | 28.13% | $52M | 120.0K |
| 2 | KMXCARMAX INChistory → | COM | 21.20% | $39M | 949.0K |
| 3 | RTXRTX CORPORATIONhistory → | COM | 17.10% | $32M | 165.0K |
| 4 | MSFTMICROSOFT CORPhistory → | COM | 16.51% | $31M | 83.0K |
| 5 | CHECK POINT SOFTWARE TECHNOLOGY LT | ORD | 12.28% | $23M | 160.0K |
| 6 | CB1ACONSTELLATION BRANDS INChistory → | CL A | 3.87% | $7M | 48.0K |
| 7 | HRBBLOCK H & R INC | COM | 0.90% | $2M | 53.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $186M | 7 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $201M | 7 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $213M | 7 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $207M | 7 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $196M | 8 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $191M | 8 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $192M | 8 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $191M | 7 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $183M | 7 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $165M | 7 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $110M | 5 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $106M | 5 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $95M | 5 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $147M | 6 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $112M | 5 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $171M | 5 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $208M | 5 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $244M | 6 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $222M | 6 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $223M | 8 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $190M | 8 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $177M | 8 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $186M | 8 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $172M | 7 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $130M | 7 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $147M | 5 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $133M | 5 | Nov 7, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $130M | 6 | Aug 12, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $112M | 5 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.