Wishbone Management, LP

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Wishbone Management, LP reported 4 stock positions worth $186.0 million. Its top holding was Avnet (AVT) at 36.3% of the portfolio, followed by Copa Class A (CPA, 30.2%) and Lightspeed Commerce (LSPD, 25.4%). Compared with Q2 2025, it opened 1 new position, sold out of 1 and reduced 1. The biggest buy was a new position in Epam Systems (EPAM) and the biggest sale an exit from Microsoft (MSFT).

Most Recent 13F
Q2 2026
Location
Chicago, IL
CIK
0001777734
Portfolio Value
$186.0M (Q3 2025)
SEC Filing
0000919574-25-006766 ↗ filed Nov 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $282.9M Q1 2024 Q2 2024: $309.7M Q2 2024 Q3 2024: $279.2M Q3 2024 Q4 2024: $210.5M Q4 2024 Q1 2025: $166.7M Q1 2025 Q2 2025: $221.0M Q2 2025 Q3 2025: $186.0M $186.0M Q3 2025 Q4 2025: $234.2M Q4 2025 Q1 2026: $135.6M Q1 2026 Q2 2026: $231.7M Q2 2026

Holdings 4 stocks · $186.0M
AVT Avnet Inc. 36.26% 1,290,000 $67.4M No change
CPA Copa Holdings SA Class A 30.18% 472,500 $56.1M No change
LSPD Lightspeed Commerce Inc. 25.45% 4,098,304 $47.3M Reduce -5.5%
EPAM Epam Systems Inc. 8.11% 100,000 $15.1M New

Portfolio Sells Q2 2025 → Q3 2025
MSFT Microsoft Corp. Sold out 0.00% −22.51
LSPD Lightspeed Commerce Inc. Reduce -5.5% 25.45% +2.47

Portfolio Buys Q2 2025 → Q3 2025
EPAM Epam Systems Inc. New 8.11% +8.11

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 5$231.7MCPA, AVT, ROP, CDW, AMZN
Q1 2026 4$135.6MCPA, AVT, ROP, MCHP
Q4 2025 5$234.2MEPAM, CPA, AVT, ACN, LSPD
Q3 2025 4$186.0MAVT, CPA, LSPD, EPAM
Q2 2025 4$221.0MAVT, CPA, LSPD, MSFT
Q1 2025 4$166.7MAVT, CPA, LSPD, FERG
Q4 2024 4$210.5MAVT, ELV, CPA, FERG
Q3 2024 5$279.2MAVT, ELV, FERG, CPA, SDRL
Q2 2024 5$309.7MAVT, ELV, FERG, SDRL, CPA
Q1 2024 4$282.9MAVT, ELV, FERG, SDRL