Wishbone Management, LP

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Wishbone Management, LP reported 5 stock positions worth $234.2 million. Its top holding was Epam Systems (EPAM) at 26.2% of the portfolio, followed by Copa Class A (CPA, 24.3%) and Avnet (AVT, 19.5%). Compared with Q3 2025, it opened 1 new position, added to 1 and reduced 2. The biggest buy was Epam Systems (EPAM, shares +200%) and the biggest sale Avnet (AVT, shares −26%).

Most Recent 13F
Q2 2026
Location
Chicago, IL
CIK
0001777734
Portfolio Value
$234.2M (Q4 2025)
SEC Filing
0000919574-26-000773 ↗ filed Feb 13, 2026

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 Q3 2025 Q4 2025: $234.2M $234.2M Q4 2025 Q1 2026: $135.6M Q1 2026 Q2 2026: $231.7M Q2 2026

Holdings 5 stocks · $234.2M
EPAM Epam Systems Inc. 26.25% 300,000 $61.5M Add +200.0%
CPA Copa Holdings SA Class A 24.34% 472,500 $57.0M No change
AVT Avnet Inc. 19.51% 950,000 $45.7M Reduce -26.4%
ACN Accenture PLC Class A 15.47% 135,000 $36.2M New
LSPD Lightspeed Commerce Inc. 14.44% 2,800,000 $33.8M Reduce -31.7%

Portfolio Sells Q3 2025 → Q4 2025
AVT Avnet Inc. Reduce -26.4% 19.51% −16.75
LSPD Lightspeed Commerce Inc. Reduce -31.7% 14.44% −11.01

Portfolio Buys Q3 2025 → Q4 2025
EPAM Epam Systems Inc. Add +200.0% 26.25% +18.14
ACN Accenture PLC Class A New 15.47% +15.47

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