Managers / Q2 2025 · view latest →
Perbak Capital Partners LLP
CIK 0001968437 · 2 PORTMAN STREET, LONDON, X0, W1H 6DU · 00442039780002
Summary
Perbak Capital Partners LLP reported $442M in U.S.-listed holdings across 275 positions for Q2 2025.
Its largest position, Invesco Exchange Traded Fd T, represents 12.1% of the portfolio.
Compared with Q1 2025, the fund opened 149 new positions and exited 68.
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
- ETP · 50.3% · $222M
- Common Stock · 44.1% · $195M
- Other · 4.2% · $19M
- REIT · 1.5% · $6M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| INVESCO EXCHANGE TRADED FD T | NEW | +294.8K | 294.8K | +$54M | $54M |
| ISHARES TR | NEW | +102.6K | 102.6K | +$11M | $11M |
| NDQINVESCO QQQ TR | NEW | +12.4K | 12.4K | +$7M | $7M |
| SPDR SERIES TRUST | NEW | +63.3K | 63.3K | +$6M | $6M |
| ARMKARAMARK | NEW | +140.6K | 140.6K | +$6M | $6M |
| KRKROGER CO | NEW | +80.4K | 80.4K | +$6M | $6M |
| DKNGDRAFTKINGS INC NEW | NEW | +115.2K | 115.2K | +$5M | $5M |
| ELANELANCO ANIMAL HEALTH INC | NEW | +280.5K | 280.5K | +$4M | $4M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | XLFSELECT SECTOR SPDR TR | INDL · SBI CONS STPLS · FINANCIAL · SBI HEALTHCARE | 20.72% | $92M | 1.00M |
| 2 | INVESCO EXCHANGE TRADED FD T | S&P500 EQL WGT | 12.11% | $54M | 294.8K |
| 3 | ISHARES TR | EXPANDED TECH · RUSSELL 2000 ETF · GL CLEAN ENE ETF | 6.19% | $27M | 630.9K |
| 4 | SPDR S&P 500 ETF TR | TR UNIT | 5.13% | $23M | 36.8K |
| 5 | SPDR SERIES TRUST | S&P REGL BKG · S&P HOMEBUILD | 3.49% | $15M | 218.2K |
| 6 | NDQINVESCO QQQ TRhistory → | UNIT SER 1 | 1.55% | $7M | 12.4K |
| 7 | ARMKARAMARKhistory → | COM | 1.33% | $6M | 140.6K |
| 8 | KRKROGER COhistory → | COM | 1.30% | $6M | 80.4K |
| 9 | DKNGDRAFTKINGS INC NEWhistory → | COM CL A | 1.12% | $5M | 115.2K |
| 10 | BAXBAXTER INTL INC | COM | 1.00% | $4M | 146.0K |
| 11 | VANGUARD INDEX FDS | REAL ESTATE ETF | 0.92% | $4M | 45.8K |
| 12 | ELANELANCO ANIMAL HEALTH INC | COM | 0.91% | $4M | 280.5K |
| 13 | MSCIMSCI INC | COM | 0.84% | $4M | 6.4K |
| 14 | MCXMCCORMICK & CO INC | COM NON VTG | 0.83% | $4M | 48.2K |
| 15 | IDXXIDEXX LABS INC | COM | 0.77% | $3M | 6.4K |
| 16 | FDSFACTSET RESH SYS INC | COM | 0.75% | $3M | 7.5K |
| 17 | DHID R HORTON INC | COM | 0.66% | $3M | 22.8K |
| 18 | QIAGEN NV | COM SHS | 0.64% | $3M | 58.8K |
| 19 | DEDEERE & CO | COM | 0.63% | $3M | 5.5K |
| 20 | SPOTIFY TECHNOLOGY S A | SHS | 0.60% | $3M | 3.5K |
| 21 | AG8AGILENT TECHNOLOGIES INC | COM | 0.58% | $3M | 21.7K |
| 22 | INTCINTEL CORP | COM | 0.57% | $3M | 112.3K |
| 23 | GEVGE VERNOVA INC | COM | 0.57% | $3M | 4.7K |
| 24 | SPGIS&P GLOBAL INC | COM | 0.54% | $2M | 4.5K |
| 25 | WATWATERS CORP | COM | 0.48% | $2M | 6.1K |
| 26 | TMOTHERMO FISHER SCIENTIFIC INC | COM | 0.48% | $2M | 5.2K |
| 27 | DHRDANAHER CORPORATION | COM | 0.46% | $2M | 10.3K |
| 28 | MTDMETTLER TOLEDO INTERNATIONAL | COM | 0.43% | $2M | 1.6K |
| 29 | WHWYNDHAM HOTELS & RESORTS INC | COM | 0.41% | $2M | 22.1K |
| 30 | TMUST-MOBILE US INC | COM | 0.39% | $2M | 7.3K |
| 31 | ILMNILLUMINA INC | COM | 0.39% | $2M | 18.0K |
| 32 | CITHE CIGNA GROUP | COM | 0.36% | $2M | 4.8K |
| 33 | DUTMOODYS CORP | COM | 0.34% | $2M | 3.0K |
| 34 | BACVERIZON COMMUNICATIONS INC | COM | 0.33% | $1M | 33.4K |
| 35 | NXP SEMICONDUCTORS N V | COM | 0.32% | $1M | 6.5K |
| 36 | ELVELEVANCE HEALTH INC | COM | 0.31% | $1M | 3.5K |
| 37 | BYDBOYD GAMING CORP | COM | 0.31% | $1M | 17.5K |
| 38 | ELSEQUITY LIFESTYLE PPTYS INC | COM | 0.31% | $1M | 21.9K |
| 39 | CPTCAMDEN PPTY TR | SH BEN INT | 0.29% | $1M | 11.2K |
| 40 | T7DTRANSDIGM GROUP INC | COM | 0.28% | $1M | 801 |
| 41 | ADIANALOG DEVICES INC | COM | 0.27% | $1M | 5.1K |
| 42 | GMGENERAL MTRS CO | COM | 0.27% | $1M | 24.3K |
| 43 | VRSKVERISK ANALYTICS INC | COM | 0.26% | $1M | 3.7K |
| 44 | TAT&T INC | COM | 0.26% | $1M | 39.3K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $406M | 294 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $328M | 219 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $568M | 288 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $442M | 275 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $135M | 194 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $187M | 65 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $142M | 31 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $338M | 55 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $80M | 11 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $0 | 1 | Feb 14, 2024 | 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 ↗.