1y return+16.0%S&P 500 +20.9%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2024: $132 against $127 in the S&P 500.2
Abc Arbitrage SaS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| DEODiageo PLC | $47.0M | 5.1% | +15.3% |
| BTIBritish American Tobacco PLC | $45.2M | 4.9% | +87.1% |
| RIORio Tinto PLC | $38.6M | 4.2% | +45.2% |
| LYGLloyds Banking Group PLC | $33.2M | 3.6% | +18306.4% |
| NWGNatwest Group PLC | $32.8M | 3.5% | +44.0% |
| VODVodafone Group PLC | $32.1M | 3.5% | −27.0% |
| INGIng Groep Nv | $31.6M | 3.4% | New |
| SHELShell PLC | $29.3M | 3.2% | −5.1% |
| BPBp PLC | $29.2M | 3.2% | +16.8% |
| GSKGsk PLC | $28.2M | 3.1% | |
| HSBCHsbc Holdings PLC | $27.0M | 2.9% | |
| IHGIntercontinental Hotels Group PLC | $26.6M | 2.9% | +14.5% |
| NGGNational Grid PLC | $25.0M | 2.7% | −15.0% |
| NVONovo Nordisk A/s | $17.7M | 1.9% | New |
| AMXAmerica Movil Sab De Cv | $13.3M | 1.4% | +22.9% |
| AEGAegon Ltd | $13.2M | 1.4% | −25.8% |
| RYAAYRyanair Holdings PLC | $13.0M | 1.4% | +120.4% |
| SNNSmith & Nephew PLC | $10.8M | 1.2% | +29.2% |
| HLNHaleon PLC | $10.3M | 1.1% | +132.4% |
| PUKPrudential PLC | $7.7M | 0.8% | New |
| HMYHarmony Gold Mining Co Ltd | $7.7M | 0.8% | −32.1% |
| ULUnilever PLC | $7.3M | 0.8% | New |
| SYNASynaptics Inc | $7.2M | 0.8% | New |
| Leggett & Platt IncCUSIP 524660107 | $7.2M | 0.8% | New |
| Stellar Bancorp IncCUSIP 858927106 | $7.1M | 0.8% | +13.2% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| HSBCHsbc Holdings PLC | December 31, 2024 | +92.3% | $27.0M |
| NWGNatwest Group PLC | December 31, 2024 | +73.4% | $32.8M |
| BTIBritish American Tobacco PLC | December 31, 2024 | +70.0% | $45.2M |
| RIORio Tinto PLC | December 31, 2024 | +61.4% | $38.6M |
| VODVodafone Group PLC | December 31, 2024 | +55.8% | $32.1M |
| IHGIntercontinental Hotels Group PLC | June 30, 2025 | +50.1% | $26.6M |
| RYAAYRyanair Holdings PLC | December 31, 2024 | +48.5% | $13.0M |
| NGGNational Grid PLC | December 31, 2024 | +39.5% | $25.0M |
| AMXAmerica Movil Sab De Cv | December 31, 2025 | +25.7% | $13.3M |
| BPBp PLC | December 31, 2024 | +25.0% | $29.2M |
Sold off last quarter
- ERICEricsson (lm) was $26.3M
- Asml Holding NvCUSIP N07059210 was $9.8M
- Semrush Holdings IncCUSIP 81686C104 was $6.3M
- UALUnited Airlines Holdings Inc was $6.3M
- Csg Systems International IncCUSIP 126349109 was $6.0M
- Amicus Therapeutics IncCUSIP 03152W109 was $5.8M
- Heritage Commerce CorpCUSIP 426927109 was $5.8M
- First Foundation IncCUSIP 32026V104 was $5.7M
- Tri Pointe Homes IncCUSIP 87265H109 was $5.6M
- LNKBLinkbancorp Inc was $5.5M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +2.8% | +14.8% |
| March 31, 2026 | −0.1% | −4.6% |
| December 31, 2025 | +6.9% | +2.4% |
| September 30, 2025 | +5.7% | +7.8% |
| June 30, 2025 | +6.7% | +10.5% |
| March 31, 2025 | +6.7% | −4.6% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Abc Arbitrage Sa Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2049221&type=13F-HR&dateb=&owner=include&count=40CIK 2049221
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/2049221/000094562126000933/Filed July 20, 2026 · accession 0000945621-26-000933