Spinecap SAS
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Spinecap SAS reported 15 stock positions worth $272.5 million. Its top holding was Apollo Global Management (APO) at 13.3% of the portfolio, followed by Mastercard Class A (MA, 13.3%) and Thermo Fisher Scientific (TMO, 12.5%). Compared with Q4 2025, it opened 3 new positions, sold out of 1, added to 4 and reduced 8. The biggest buy was a new position in Microsoft (MSFT) and the biggest sale Alphabet Class A (GOOGL, shares −15%).
- Most Recent 13F
- Q2 2026
- Location
- PARIS, I0
- CIK
- 0002011727
- Portfolio Value
- $272.5M (Q1 2026)
- SEC Filing
- 0002011727-26-000005 ↗ filed May 15, 2026
Holdings Value
Holdings 15 stocks · $272.5M
| APO Apollo Global Management Inc. | 13.27% | 324,580 | $36.2M | Add +47.1% |
| MA Mastercard Inc. Class A | 13.25% | 72,272 | $36.1M | Add +106.0% |
| TMO Thermo Fisher Scientific Inc. | 12.54% | 69,508 | $34.2M | Reduce -0.7% |
| GOOGL Alphabet Inc. Class A | 11.74% | 111,279 | $32.0M | Reduce -15.0% |
| MSFT Microsoft Corp. | 11.50% | 84,648 | $31.3M | New |
| KKR KKR & Co. Inc. | 5.44% | 160,400 | $14.8M | New |
| BX Blackstone Inc. | 3.82% | 90,534 | $10.4M | Add +33.3% |
| AMZN Amazon.com Inc. | 3.68% | 48,110 | $10.0M | Reduce -4.2% |
| BLK BlackRock Inc. | 3.65% | 10,336 | $9.9M | Add +10.1% |
| AVGO Broadcom Inc. | 3.63% | 31,997 | $9.9M | Reduce -2.4% |
| TDG Transdigm Group Inc. | 3.60% | 8,466 | $9.8M | Reduce -1.0% |
| ICE Intercontinental Exchange Inc. | 3.52% | 60,942 | $9.6M | New |
| V Visa Inc. Class A | 3.47% | 31,300 | $9.5M | Reduce -4.0% |
| SNPS Synopsys Inc. | 3.44% | 23,666 | $9.4M | Reduce -2.0% |
| DHR Danaher Corp. | 3.44% | 49,425 | $9.4M | Reduce -3.6% |
Portfolio Sells Q4 2025 → Q1 2026
| GOOGL Alphabet Inc. Class A | Reduce -15.0% | 11.74% | −5.87 |
| TMO Thermo Fisher Scientific Inc. | Reduce -0.7% | 12.54% | −4.91 |
| URI United Rentals Inc. | Sold out | 0.00% | −4.19 |
| DHR Danaher Corp. | Reduce -3.6% | 3.44% | −1.61 |
| V Visa Inc. Class A | Reduce -4.0% | 3.47% | −1.44 |
| SNPS Synopsys Inc. | Reduce -2.0% | 3.44% | −1.43 |
| AMZN Amazon.com Inc. | Reduce -4.2% | 3.68% | −1.31 |
| TDG Transdigm Group Inc. | Reduce -1.0% | 3.60% | −1.29 |
| AVGO Broadcom Inc. | Reduce -2.4% | 3.63% | −1.24 |
Portfolio Buys Q4 2025 → Q1 2026
| MSFT Microsoft Corp. | New | 11.50% | +11.50 |
| KKR KKR & Co. Inc. | New | 5.44% | +5.44 |
| MA Mastercard Inc. Class A | Add +106.0% | 13.25% | +4.64 |
| ICE Intercontinental Exchange Inc. | New | 3.52% | +3.52 |
| APO Apollo Global Management Inc. | Add +47.1% | 13.27% | −0.46 |
| BLK BlackRock Inc. | Add +10.1% | 3.65% | −0.67 |
| BX Blackstone Inc. | Add +33.3% | 3.82% | −0.68 |