Managers / Q4 2025 · view latest →
Wishbone Management, LP
CIK 0001777734 · 444 WEST LAKE STREET, 49TH FLOOR, CHICAGO, IL, 60606 · 312-265-5560
Summary
Wishbone Management, LP reported $234M in U.S.-listed holdings across 5 positions for Q4 2025.
The portfolio is heavily concentrated: EPAM alone accounts for 26.2% of reported value.
Compared with Q3 2025, the fund opened 1 new position and exited 0.
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 · 60.2% · $141M
- Other · 39.8% · $93M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ACCENTURE PLC IRELAND | NEW | +135.0K | 135.0K | +$36M | $36M |
| EPAMEPAM SYS INC | ADDED | +200.0K | 300.0K | +$46M | $61M |
| LSPDLIGHTSPEED COMMERCE INC | TRIMMED | −1.30M | 2.80M | −$14M | $34M |
| AVTAVNET INC | TRIMMED | −340.0K | 950.0K | −$22M | $46M |
| COPA HOLDINGS SA | HELD | +0 | 472.5K | +$845,775 | $57M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | EPAMEPAM SYS INChistory → | COM | 26.25% | $61M | 300.0K |
| 2 | COPA HOLDINGS SA | CL A | 24.34% | $57M | 472.5K |
| 3 | AVTAVNET INChistory → | COM | 19.51% | $46M | 950.0K |
| 4 | ACCENTURE PLC IRELAND | SHS CLASS A | 15.47% | $36M | 135.0K |
| 5 | LSPDLIGHTSPEED COMMERCE INChistory → | SUB VTG SHS | 14.44% | $34M | 2.80M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $136M | 4 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $234M | 5 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $186M | 4 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $221M | 4 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $167M | 4 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $211M | 4 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $279M | 5 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $310M | 5 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $283M | 4 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $226M | 3 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $282M | 6 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $334M | 7 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $347M | 9 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $323M | 9 | Feb 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $347M | 10 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $275M | 7 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $510M | 9 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $735M | 11 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $725M | 10 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $648M | 10 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $596M | 9 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $437M | 11 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $474M | 13 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $404M | 12 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $333M | 11 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $435M | 9 | Feb 14, 2020 | 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 ↗.