LB Partners LLC

Registered adviser

CIK

2007877

Location

CHARLOTTESVILLE, VA

Portfolio Value

Small $146,578,224

Diversification

Diversified

Filing Date

Global Rank

#7,489 / 8,818 ▲ 370

Top Industry

Credit Services 36.3%

Period ended 4 months ago

Filed Jul 30, 2026 · 3mo

11 quarters · since Dec 2023

Regulatory profile

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

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 309088

Roster of Oct 1, 2026

Regulatory AUM

$191,306,535

Main clients

Pooled investment vehicles (100% of AUM)

Private funds

4 funds · Hedge funds

Focus by gross assets, Schedule D of Nov 21, 2024

$191,306,535 gross assets

LEI

254900BPSMS06I05CV04

Private funds on Schedule D 7.B.(1)

As filed Nov 21, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$190,339,667 gross assets in 3 funds Hedge funds $190,339,667 (3)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$191,306,535	Pooled investment vehicles (100%)
Apr 2025 to Mar 2026	$214,862,850	Pooled investment vehicles (100%)
Aug 2024 to Mar 2025	$190,339,667	Pooled investment vehicles (100%)
Apr 2024 to May 2024	—	—
Jun 2023 to Mar 2024	—	—
May 2023	$0	—

1 earlier changes not shown.

Stated strategy

Fundamental active Form ADV Part 2A, Jul 29, 2026 · original

In the firm's words

Fundamental active: LB Partners’ primary method of analysis includes fundamental, technical, and cyclical analysis of investment opportunities.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 82.0% of the book (60%+)

Turnover

Medium turnover

44.1% over the last four quarters (30% to under 100%)

Horizon

Medium horizon

Value-weighted holding period 6.8 quarters (4 to under 12)

Closest benchmark: the Nasdaq-100 as of 2026-06-30, active share 86.2%; sector active share 35.5% against the combined 13F book's sector weights.

Over time 11 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.

View clone backtest

Portfolio Concentration

33 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

19.4%

−2.1 pts

Top 5

58.5%

+0.1 pts

Top 10

82.0%

+0.1 pts

HHI

921

Diversified−33

Portfolio Trend

11 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	34.0%	$49,878,214	7
Financial Services	33.5%	$49,041,272	10
Communication Services	15.3%	$22,383,788	5
Unclassified	12.6%	$18,486,300	2
Consumer Cyclical	2.4%	$3,584,880	2
Consumer Defensive	1.0%	$1,458,450	1
Energy	0.5%	$784,964	3
Basic Materials	0.5%	$720,902	2
Real Estate	0.2%	$239,454	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

8 positions

Ticker	Company	Δ Shares	Shares	Value
NIQ	NIQ Global Intelligence plc	+1,532,468	1,932,168	$18,065,770
OPFI	OppFi Inc.	+132,500	632,500	$6,280,725
—		+92,000	110,075	$3,661,094
FOUR	Shift4 Payments, Inc.	+66,000	96,000	$4,669,440
PYPL	PayPal Holdings, Inc.	+2,500	22,500	$971,550
MU	Micron Technology Inc	+2,000	6,000	$6,925,740
MFIC	MidCap Financial Investment Corp	+2,000	12,000	$120,960
NVDA	Nvidia Corp	+2,000	8,000	$1,600,720
No positions match the current search.

Trimmed

Positions the filer reduced

5 positions

Ticker	Company	Δ Shares	Shares	Value
SPT	Sprout Social, Inc.	−1,031,246	479,733	$3,621,984
—		−550,000	4,850,841	$15,086,115
RELY	Remitly Global, Inc.	−261,195	1,268,000	$28,415,880
GOGO	Gogo Inc.	−120,968	683,066	$2,117,504
TIGO	Millicom International Cellular SA	−66,000	77,000	$6,988,520
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Company	Shares	Value
TOST	Toast, Inc.	155,000	$4,312,100
FDS	Factset Research Systems Inc	1,685	$387,684
FSK	FS KKR Capital Corp	11,164	$117,222
No positions match the current search.

Sold Out

Positions the filer fully exited

6 positions

Ticker	Company	Shares	Value
FISV	Fiserv Inc	27,000	$1,506,600
GTLB	Gitlab Inc.	60,000	$1,298,400
GPN	Global Payments Inc	10,000	$673,000
NOW	ServiceNow, Inc.	6,000	$627,300
GLIBK	Liberty Capital Corp	10,815	$402,426
OXY	Occidental Petroleum Corp	3,400	$221,000
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

33 tracked positions · $146,578,224 total · filing declares 34 positions · $146,645,732 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
RELY	Remitly Global, Inc. Technology	Reduced	1,268,000	-261,195	$28,415,880	+18.6%	9	$16.24	19.39%
NIQ	NIQ Global Intelligence plc	Added	1,932,168	+1,532,468	$18,065,770	+297.5%	4	$10.88	12.33%
		Reduced	4,850,841	-550,000	$15,086,115	+123.5%	5	$1.62	10.29%
COF	Capital One Financial Corp Financial Services	Held	70,056	0	$14,054,634	+10.0%	5	$188.53	9.59%
AXP	American Express Co Financial Services	Held	30,000	0	$10,147,500	+11.8%	11	before history	6.92%
TIGO	Millicom International Cellular SA Communication Services	Reduced	77,000	-66,000	$6,988,520	−34.8%	11	before history	4.77%
MU	Micron Technology Inc Technology	Added	6,000	+2,000	$6,925,740	+412.5%	2	$511.11	4.72%
GOOGL	Alphabet Inc. Communication Services	Held	19,000	0	$6,790,030	+24.3%	11	before history	4.63%
OPFI	OppFi Inc. Financial Services	Added	632,500	+132,500	$6,280,725	+62.9%	11	before history	4.28%
FOUR	Shift4 Payments, Inc. Technology	Added	96,000	+66,000	$4,669,440	+255.9%	2	$46.97	3.19%
TOST	Toast, Inc. Technology	NEW	155,000	NEW	$4,312,100	NEW	1	$26.08	2.94%
		Added	110,075	+92,000	$3,661,094	+302.7%	10	$44.46	2.50%
SPT	Sprout Social, Inc. Technology	Reduced	479,733	-1,031,246	$3,621,984	−57.9%	4	$9.66	2.47%
GOOG	Alphabet Inc. Communication Services	Held	8,000	0	$2,826,640	+23.2%	11	before history	1.93%
GOGO	Gogo Inc. Communication Services	Reduced	683,066	-120,968	$2,117,504	−34.5%	11	before history	1.44%
AMZN	Amazon Com Inc Consumer Cyclical	Held	8,000	0	$1,906,720	+14.4%	5	$197.89	1.30%
PDD	PDD Holdings Inc. Consumer Cyclical	Held	22,000	0	$1,678,160	−25.3%	2	$105.11	1.14%
NVDA	Nvidia Corp Technology	Added	8,000	+2,000	$1,600,720	+53.0%	2	$189.00	1.09%
KKR	KKR & Co. Inc. Financial Services	Held	17,100	0	$1,569,438	−0.8%	11	before history	1.07%
TBBB	Bbb Foods Inc Consumer Defensive	Held	35,000	0	$1,458,450	+17.8%	2	$34.99	0.99%
PYPL	PayPal Holdings, Inc. Financial Services	Added	22,500	+2,500	$971,550	+7.4%	2	$47.96	0.66%
TFPM	Triple Flag Precious Metals Corp. Basic Materials	Held	14,913	0	$446,942	−13.7%	11	before history	0.30%
SGOL	abrdn Gold ETF Trust	Held	11,000	0	$420,530	−14.3%	11	before history	0.29%
DVN	Devon Energy Corp Energy	Held	10,000	0	$413,200	−17.9%	2	$42.88	0.28%
FDS	Factset Research Systems Inc Financial Services	NEW	1,685	NEW	$387,684	NEW	1	$229.66	0.26%
IMXI	International Money Express, Inc. Technology	Held	23,000	0	$332,350	−8.5%	6	$16.69	0.23%
SPGI	S&P Global Inc. Financial Services	Held	750	0	$305,444	−4.3%	11	before history	0.21%
MTA	Metalla Royalty & Streaming Ltd. Basic Materials	Held	36,000	0	$273,960	+14.8%	6	$2.89	0.19%
FRPH	Frp Holdings, Inc. Real Estate	Held	9,582	0	$239,454	+14.2%	11	before history	0.16%
CVX	Chevron Corp Energy	Held	1,400	0	$232,064	−19.9%	2	$182.35	0.16%
BSM	Black Stone Minerals, L.P. Energy	Held	10,000	0	$139,700	−7.6%	11	before history	0.10%
MFIC	MidCap Financial Investment Corp Financial Services	Added	12,000	+2,000	$120,960	+7.6%	2	$11.02	0.08%
FSK	FS KKR Capital Corp Financial Services	NEW	11,164	NEW	$117,222	NEW	1	$10.76	0.08%

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.