SurgoCap Partners LP — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, SurgoCap Partners LP initiated 3 new positions, increased allocation to 6 existing positions, trimmed 3 positions, and exited 6 positions entirely. The fund's 13F equity book declined from $3.61B to $2.99B (-17.1% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.
Net Portfolio Value Change
- $3.61BPrior quarter
- $2.99BCurrent quarter
- $-0.62BNet delta
- -17.1%% change
New Position Initiations Q1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Allocation Weight | History |
|---|---|---|---|
| MEDLINE INC | MDLN | 9.03% | History → |
| CORNING INC | GLW | 3.90% | History → |
| VISA INC | V | 2.91% | Holders → |
Largest Allocation Increases Q1 2026
Largest portfolio-weight increases in existing positions. Share-count delta is shown separately so price-only re-weighting can be distinguished from active adds.
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| NVIDIA CORPORATION | NVDA | +2.66% | +61.93% | History → |
| SHOPIFY INC | SHOP | +0.49% | +48.14% | Holders → |
| INTUITIVE SURGICAL, INC. | ISRG | +1.01% | +26.70% | History → |
| ALPHABET INC | GOOG | +3.40% | +19.07% | History → |
| CARPENTER TECHNOLOGY CORP | CRS | +5.71% | +3.84% | History → |
| LPL FINL HLDGS INC | LPLA | +0.42% | +2.60% | History → |
Largest Allocation Reductions Q1 2026
Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| MCKESSON CORP | MCK | 0.56% | -16.80% | History → |
| NU HOLDINGS LTD | NU | -0.14% | -6.22% | History → |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | 3.17% | -0.14% | History → |
Exited Positions Q1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| BLACKSTONE INC | BX | 8.85% |
| BOSTON SCIENTIFIC CORP | BSX | 6.76% |
| BROADCOM INC | AVGO | 6.42% |
| HILTON WORLDWIDE HOLDINGS INC | HLT | 4.01% |
| GUIDEWIRE SOFTWARE INC | GWRE | 4.00% |
| ARMSTRONG WORLD INDUSTRIES, INC. | AWI | 1.99% |
Methodology & FAQ
How SurgoCap Partners LP Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for SurgoCap Partners LP against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.
Which positions did SurgoCap Partners LP initiate in Q1 2026?
SurgoCap Partners LP established 3 new positions in Q1 2026: MEDLINE INC (MDLN, 9.03%), CORNING INC (GLW, 3.90%), VISA INC (V, 2.91%).
Which existing positions saw the largest allocation increases for SurgoCap Partners LP in Q1 2026?
The largest portfolio-weight increases in existing positions were: NVIDIA CORPORATION (NVDA, +2.66% weight, +61.93% shares), SHOPIFY INC (SHOP, +0.49% weight, +48.14% shares), INTUITIVE SURGICAL, INC. (ISRG, +1.01% weight, +26.70% shares), ALPHABET INC (GOOG, +3.40% weight, +19.07% shares), CARPENTER TECHNOLOGY CORP (CRS, +5.71% weight, +3.84% shares), LPL FINL HLDGS INC (LPLA, +0.42% weight, +2.60% shares).
Which positions did SurgoCap Partners LP fully exit in Q1 2026?
SurgoCap Partners LP fully exited 6 positions in Q1 2026: BLACKSTONE INC (BX, last-reported weight 8.85%), BOSTON SCIENTIFIC CORP (BSX, last-reported weight 6.76%), BROADCOM INC (AVGO, last-reported weight 6.42%), HILTON WORLDWIDE HOLDINGS INC (HLT, last-reported weight 4.01%), GUIDEWIRE SOFTWARE INC (GWRE, last-reported weight 4.00%), ARMSTRONG WORLD INDUSTRIES, INC. (AWI, last-reported weight 1.99%).
Which existing positions saw the largest allocation reductions for SurgoCap Partners LP in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: MCKESSON CORP (MCK, 0.56% weight, -16.80% shares), NU HOLDINGS LTD (NU, -0.14% weight, -6.22% shares), TAIWAN SEMICONDUCTOR MANUFAC (TSM, 3.17% weight, -0.14% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity.