1y return+15.5%S&P 500 +20.9%
3y return+77.4%S&P 500 +68.5%
5y return+32.1%S&P 500 +74.5%
10y return+273.2%S&P 500 +256.5%
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 June 30, 2016: $373 against $357 in the S&P 500.2
Lagoda Investment Management, L.P.S&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 |
|---|---|---|---|
| TPLTexas Pacific Land Corporati | $37.5M | 20.6% | |
| NTRANatera Inc | $15.9M | 8.7% | −9.2% |
| TSMTaiwan Semiconductor Manufac | $13.1M | 7.2% | |
| GOOGAlphabet Inc | $12.9M | 7.1% | −2.6% |
| AMDAdvanced Micro Devices Inc | $10.4M | 5.7% | +55.3% |
| ARMArm Holdings PLC | $10.1M | 5.6% | +9.4% |
| DMRCDigimarc Corp | $9.4M | 5.2% | New |
| XPOXpo Inc | $8.6M | 4.7% | −15.7% |
| STXSStereotaxis Inc | $7.1M | 3.9% | −5.2% |
| Renaissancere Hldgs LtdCUSIP G7496G103 | $7.0M | 3.9% | −1.7% |
| GXOGxo Logistics Incorporated | $6.6M | 3.6% | |
| TMDXTransmedics Group Inc | $6.5M | 3.6% | +7.7% |
| GHGuardant Health Inc | $5.6M | 3.1% | +2.6% |
| PTCPtc Inc | $5.2M | 2.9% | +10.1% |
| SNPSSynopsys Inc | $4.7M | 2.6% | +13.2% |
| UIUbiquiti Inc | $3.5M | 2.0% | −25.8% |
| QXOQxo Inc | $3.5M | 1.9% | +163.2% |
| PROFProfound Med Corp | $3.3M | 1.8% | +13.7% |
| MAMastercard Incorporated | $2.4M | 1.3% | −6.7% |
| HEIHeico Corp New | $2.1M | 1.2% | +2.6% |
| VNRXVolitionrx Ltd | $2.0M | 1.1% | New |
| TRUPTrupanion Inc | $2.0M | 1.1% | −19.8% |
| BRK/BBerkshire Hathaway Inc Del | $1.8M | 1.0% | |
| MSFTMicrosoft Corp | $401K | 0.2% | −2.3% |
| GLDSpdr Gold Tr | $258K | 0.1% | +16.7% |
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 |
|---|---|---|---|
| NTRANatera Inc | June 30, 2020 | +444.4% | $15.9M |
| GOOGAlphabet Inc | June 30, 2020 | +399.9% | $12.9M |
| TSMTaiwan Semiconductor Manufac | March 31, 2024 | +251.0% | $13.1M |
| UIUbiquiti Inc | June 30, 2020 | +205.9% | $3.5M |
| AMDAdvanced Micro Devices Inc | March 31, 2026 | +185.6% | $10.4M |
| BRK/BBerkshire Hathaway Inc Del | June 30, 2020 | +180.3% | $1.8M |
| HEIHeico Corp New | December 31, 2020 | +169.0% | $2.1M |
| XPOXpo Inc | June 30, 2020 | +165.7% | $8.6M |
| TPLTexas Pacific Land Corporati | March 31, 2021 | +147.8% | $37.5M |
| GLDSpdr Gold Tr | June 30, 2020 | +120.1% | $258K |
Sold off last quarter
- Digimarc Corp NewCUSIP 25381B101 was $5.2M
- Volitionrx LtdCUSIP 928661107 was $3.3M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +11.1% | +14.8% |
| March 31, 2026 | +7.2% | −4.6% |
| December 31, 2025 | −4.4% | +2.4% |
| September 30, 2025 | +1.4% | +7.8% |
| June 30, 2025 | +11.5% | +10.5% |
| March 31, 2025 | −12.1% | −4.6% |
| December 31, 2024 | +10.8% | +2.1% |
| September 30, 2024 | +9.4% | +5.4% |
| June 30, 2024 | +9.8% | +4.0% |
| March 31, 2024 | +5.1% | +10.0% |
| December 31, 2023 | +5.0% | +11.2% |
| September 30, 2023 | +6.8% | −3.6% |
| June 30, 2023 | −0.1% | +8.3% |
| March 31, 2023 | −3.5% | +7.0% |
| December 31, 2022 | +13.8% | +7.1% |
| September 30, 2022 | +0.6% | −5.3% |
| June 30, 2022 | −15.1% | −16.5% |
| March 31, 2022 | −12.8% | −4.9% |
| December 31, 2021 | +4.7% | +10.7% |
| September 30, 2021 | −13.0% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Lagoda Investment Management, L.P. Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1632108&type=13F-HR&dateb=&owner=include&count=40CIK 1632108
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1632108/000149315226038315/Filed August 14, 2026 · accession 0001493152-26-038315