Full18 Capital LLC

CIK

1797673

Location

WESTPORT, CT

Portfolio Value

Small $418,435,563

Diversification

Diversified

Filing Date

Global Rank

#3,091 / 6,901 ▲ 1437 · as of Mar 2022

Top Industry

Asset Management 36.9%

Period ended 4 years ago

Filed Apr 29, 2022 · 4y

6 quarters · since Dec 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Mar 31, 2022, never from the firm's own description.

Style

Diversified active

Top 10 weight 45.9%, 31.2 effective positions, active share 96.9% against the Russell 1000 as of 2022-03-31; it meets none of the index-like, systematic-like or concentrated tests

Turnover

High turnover

165.0% over the last four quarters (100%+)

Horizon

Short horizon

Value-weighted holding period 3.3 quarters (under 4)

Closest benchmark: the Russell 1000 as of 2022-03-31, active share 96.9%; sector active share 60.7% against the combined 13F book's sector weights.

Over time 6 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

72 tracked positions · as of Mar 31, 2022 · Δ vs Dec 31, 2021

Top Position

8.2%

+3.2 pts

Top 5

30.9%

+12.0 pts

Top 10

45.9%

+14.5 pts

HHI

321

Diversified+128

Portfolio Trend

6 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2022

Sector	% Portfolio	Value	Positions
Financial Services	61.3%	$256,449,506	37
Real Estate	12.3%	$51,339,284	11
Unclassified	10.0%	$41,973,000	10
Technology	9.0%	$37,625,420	10
Industrials	6.3%	$26,288,975	2
Consumer Cyclical	0.8%	$3,214,943	1
Communication Services	0.4%	$1,544,435	1

Last Quarter's Activity

Export CSV

Mar 31, 2022 vs Dec 31, 2021

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
IVZ	Invesco Ltd.	+597,281	848,724	$19,571,574
CG	Carlyle Group Inc.	+497,506	699,514	$34,213,228
KRG	Kite Realty Group Trust	+455,814	702,883	$16,004,645
UE	Urban Edge Properties	+404,733	594,061	$11,346,563
KKR	KKR & Co. Inc.	+369,297	516,212	$30,182,915
RITM	Rithm Capital Corp.	+340,705	476,605	$5,233,121
IIIV	i3 Verticals, Inc.	+291,271	392,153	$10,925,381
BWIN	Baldwin Insurance Group, Inc.	+252,433	305,176	$8,187,871
VCTR	Victory Capital Holdings, Inc.	+179,769	195,716	$5,650,320
PAX	Patria Investments Ltd	+168,697	348,583	$6,208,262
ACGL	Arch Capital Group Ltd.	+138,516	219,722	$10,638,938
GPN	Global Payments Inc	+136,896	169,305	$23,167,695
—		+123,876	176,376	$11,141,000
—		+118,263	200,144	$0
TASK	TaskUs, Inc.	+116,501	166,532	$6,404,819
OMF	OneMain Holdings, Inc.	+93,782	190,565	$9,034,685
ALLY	Ally Financial Inc.	+86,885	140,062	$6,089,895
PWP	Perella Weinberg Partners	+78,357	245,463	$2,319,624
FSBC	Five Star Bancorp	+76,314	124,867	$3,533,735
IGIC	International General Insurance Holdings Ltd.	+69,378	144,660	$1,137,026
FNF	Fidelity National Financial, Inc.	+58,353	110,339	$5,388,961
AMP	Ameriprise Financial Inc	+55,814	73,313	$22,020,291
QNST	Quinstreet, Inc	+48,991	133,141	$1,544,435
AAMI	Acadian Asset Management Inc.	+44,511	80,090	$1,942,182
AER	AerCap Holdings N.V.	+41,675	62,078	$3,121,280
No positions match the current search.

Trimmed

Positions the filer reduced

4 positions

Ticker	Company	Δ Shares	Shares	Value
FOUR	Shift4 Payments, Inc.	−30,535	37,868	$2,345,164
—		−18,724	35,010	$265,000
CBOE	Cboe Global Markets, Inc.	−11,825	17,458	$1,997,544
EVR	Evercore Inc.	−5,683	34,941	$3,889,632
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
—		22,314	$12,899,000
—		33,215	$10,387,000
IBKR	Interactive Brokers Group, Inc.	139,563	$9,198,596
LPLA	LPL Financial Holdings Inc.	44,023	$8,042,120
RPAY	Repay Holdings Corp	507,940	$7,502,273
MTB	M&T Bank Corp	42,698	$7,237,311
EWBC	East West Bancorp Inc	81,036	$6,403,464
ICE	Intercontinental Exchange, Inc.	44,781	$5,916,465
UNM	Unum Group	165,841	$5,225,649
IIPR	Innovative Industrial Properties Inc	25,106	$5,156,771
—		139,511	$4,951,000
TRU	TransUnion	44,839	$4,633,662
—		79,439	$3,989,000
HST	Host Hotels & Resorts, Inc.	200,442	$3,894,587
V	Visa Inc.	16,105	$3,571,605
FIS	Fidelity National Information Services, Inc.	28,265	$2,838,371
BX	Blackstone Inc.	21,104	$2,678,941
RLJ	RLJ Lodging Trust	174,159	$2,452,158
—		31,157	$2,326,000
ACN	Accenture plc	6,888	$2,322,840
FIBK	First Interstate Bancsystem Inc	60,700	$2,231,938
MET	Metlife Inc	31,326	$2,201,591
RYAN	Ryan Specialty Holdings, Inc.	54,850	$2,127,630
ROOT	Root, Inc.	1,045,955	$2,060,530
PAGS	PagSeguro Digital Ltd.	97,919	$1,963,275
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
BNY	Bank of New York Mellon Corp	138,331	$8,034,264
—		254,906	$5,814,000
EQH	Equitable Holdings, Inc.	175,406	$5,751,562
GS	Goldman Sachs Group Inc	14,280	$5,462,814
SF	Stifel Financial Corp	75,545	$5,319,882
SPG	Simon Property Group Inc.	25,136	$4,015,978
NTRS	Northern Trust Corp	33,191	$3,969,975
MCB	Metropolitan Bank Holding Corp.	35,621	$3,794,705
STC	Stewart Information Services Corp	35,342	$2,817,817
BPOP	Popular, Inc.	33,383	$2,738,741
AIG	American International Group, Inc.	46,231	$2,628,694
VYX	NCR Voyix Corp	63,146	$2,538,471
AJG	Arthur J. Gallagher & Co.	14,914	$2,530,458
FBP	First Bancorp	182,940	$2,520,913
IBOC	International Bancshares Corp	59,363	$2,516,397
FHI	Federated Hermes, Inc.	64,581	$2,426,953
—		101,892	$2,290,532
HWC	Hancock Whitney Corp	45,151	$2,258,453
FAF	First American Financial Corp	25,749	$2,014,344
VOYA	Voya Financial, Inc.	29,701	$1,969,473
EFX	Equifax Inc	6,647	$1,946,175
KEY	Keycorp	81,478	$1,884,586
—		36,943	$1,754,000
BILL	BILL Holdings, Inc.	6,931	$1,726,858
PEB	Pebblebrook Hotel Trust	76,220	$1,705,041
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

72 tracked positions · $418,435,563 total · filing declares 158 positions · $433,776,000 · as of Mar 31, 2022

All sectors Communication Services Consumer Cyclical Financial Services Industrials Real Estate Technology

Showing 1–50 of 72 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
CG	Carlyle Group Inc. Financial Services	Added	699,514	+497,506	$34,213,228	+208.5%	3	$48.45	8.18%
KKR	KKR & Co. Inc. Financial Services	Added	516,212	+369,297	$30,182,915	+175.8%	6	before history	7.21%
GPN	Global Payments Inc Industrials	Added	169,305	+136,896	$23,167,695	+428.8%	6	before history	5.54%
AMP	Ameriprise Financial Inc Financial Services	Added	73,313	+55,814	$22,020,291	+317.1%	6	before history	5.26%
IVZ	Invesco Ltd. Financial Services	Added	848,724	+597,281	$19,571,574	+238.1%	6	before history	4.68%
KRG	Kite Realty Group Trust Real Estate	Added	702,883	+455,814	$16,004,645	+197.4%	3	$21.31	3.82%
		NEW	22,314	NEW	$12,899,000	NEW	1	unpriced	3.08%
VRTS	Virtus Investment Partners, Inc. Financial Services	Added	47,686	+32,360	$11,444,161	+151.3%	6	before history	2.73%
UE	Urban Edge Properties Real Estate	Added	594,061	+404,733	$11,346,563	+215.4%	6	before history	2.71%
		Added	176,376	+123,876	$11,141,000	+76.5%	2	unpriced	2.66%
IIIV	i3 Verticals, Inc. Technology	Added	392,153	+291,271	$10,925,381	+375.2%	3	$24.66	2.61%
ACGL	Arch Capital Group Ltd. Financial Services	Added	219,722	+138,516	$10,638,938	+194.7%	2	$44.99	2.54%
		NEW	33,215	NEW	$10,387,000	NEW	1	unpriced	2.48%
IBKR	Interactive Brokers Group, Inc. Financial Services	NEW	139,563	NEW	$9,198,596	NEW	1	$68.88	2.20%
OMF	OneMain Holdings, Inc. Financial Services	Added	190,565	+93,782	$9,034,685	+86.6%	2	$51.40	2.16%
BWIN	Baldwin Insurance Group, Inc. Financial Services	Added	305,176	+252,433	$8,187,871	+329.9%	6	before history	1.96%
LPLA	LPL Financial Holdings Inc. Financial Services	NEW	44,023	NEW	$8,042,120	NEW	1	$174.14	1.92%
RPAY	Repay Holdings Corp Technology	NEW	507,940	NEW	$7,502,273	NEW	1	$16.51	1.79%
MTB	M&T Bank Corp Financial Services	NEW	42,698	NEW	$7,237,311	NEW	1	$176.34	1.73%
TASK	TaskUs, Inc. Technology	Added	166,532	+116,501	$6,404,819	+137.2%	3	$39.78	1.53%
EWBC	East West Bancorp Inc Financial Services	NEW	81,036	NEW	$6,403,464	NEW	1	$84.39	1.53%
PAX	Patria Investments Ltd Financial Services	Added	348,583	+168,697	$6,208,262	+113.0%	4	$16.37	1.48%
ALLY	Ally Financial Inc. Financial Services	Added	140,062	+86,885	$6,089,895	+140.5%	3	$48.93	1.46%
ICE	Intercontinental Exchange, Inc. Financial Services	NEW	44,781	NEW	$5,916,465	NEW	1	$129.19	1.41%
VCTR	Victory Capital Holdings, Inc. Financial Services	Added	195,716	+179,769	$5,650,320	+869.9%	6	before history	1.35%
FNF	Fidelity National Financial, Inc. Financial Services	Added	110,339	+58,353	$5,388,961	+98.7%	2	unpriced	1.29%
RITM	Rithm Capital Corp. Real Estate	Added	476,605	+340,705	$5,233,121	+259.5%	3	$10.51	1.25%
UNM	Unum Group Financial Services	NEW	165,841	NEW	$5,225,649	NEW	1	$27.94	1.25%
IIPR	Innovative Industrial Properties Inc Real Estate	NEW	25,106	NEW	$5,156,771	NEW	1	$196.82	1.23%
		NEW	139,511	NEW	$4,951,000	NEW	1	unpriced	1.18%
TRU	TransUnion Financial Services	NEW	44,839	NEW	$4,633,662	NEW	1	$101.45	1.11%
		NEW	79,439	NEW	$3,989,000	NEW	1	unpriced	0.95%
HST	Host Hotels & Resorts, Inc. Real Estate	NEW	200,442	NEW	$3,894,587	NEW	1	$18.05	0.93%
EVR	Evercore Inc. Financial Services	Reduced	34,941	-5,683	$3,889,632	−29.5%	4	$139.78	0.93%
V	Visa Inc. Financial Services	NEW	16,105	NEW	$3,571,605	NEW	1	$216.28	0.85%
FSBC	Five Star Bancorp Financial Services	Added	124,867	+76,314	$3,533,735	+142.6%	4	$28.45	0.84%
CNNE	Cannae Holdings, Inc. Consumer Cyclical	Added	134,404	+723	$3,214,943	−31.6%	6	before history	0.77%
AER	AerCap Holdings N.V. Industrials	Added	62,078	+41,675	$3,121,280	+133.8%	2	$60.59	0.75%
FIS	Fidelity National Information Services, Inc. Technology	NEW	28,265	NEW	$2,838,371	NEW	1	$104.59	0.68%
BX	Blackstone Inc. Financial Services	NEW	21,104	NEW	$2,678,941	NEW	1	$121.96	0.64%
RLJ	RLJ Lodging Trust Real Estate	NEW	174,159	NEW	$2,452,158	NEW	1	$14.06	0.59%
FOUR	Shift4 Payments, Inc. Technology	Reduced	37,868	-30,535	$2,345,164	−40.8%	3	$86.24	0.56%
		NEW	31,157	NEW	$2,326,000	NEW	1	unpriced	0.56%
ACN	Accenture plc Technology	NEW	6,888	NEW	$2,322,840	NEW	1	$337.27	0.56%
PWP	Perella Weinberg Partners Financial Services	Added	245,463	+78,357	$2,319,624	+7.9%	4	$11.43	0.55%
FIBK	First Interstate Bancsystem Inc Financial Services	NEW	60,700	NEW	$2,231,938	NEW	1	$39.42	0.53%
MET	Metlife Inc Financial Services	NEW	31,326	NEW	$2,201,591	NEW	1	$67.61	0.53%
RYAN	Ryan Specialty Holdings, Inc. Financial Services	NEW	54,850	NEW	$2,127,630	NEW	1	$37.98	0.51%
ROOT	Root, Inc. Financial Services	NEW	1,045,955	NEW	$2,060,530	NEW	1	$2.00	0.49%
CBOE	Cboe Global Markets, Inc. Financial Services	Reduced	17,458	-11,825	$1,997,544	−47.7%	3	$122.15	0.48%

Showing the top 50 of 72 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.