1y return+50.9%S&P 500 +20.9%
3y return+99.1%S&P 500 +68.5%
5y return+58.3%S&P 500 +74.5%
10y return+275.0%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: $375 against $357 in the S&P 500.2
Montanova Capital, LLCS&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 |
|---|---|---|---|
| MANEVeradermics Inc | $512.5M | 10.8% | |
| ARQTArcutis Biotherapeutics Inc | $326.1M | 6.9% | |
| LEGNLegend Biotech Corp | $204.2M | 4.3% | −6.7% |
| PVLAPalvella Therapeutics Inc Ne | $173.5M | 3.6% | −1.6% |
| AVBPArrivent Biopharma Inc | $156.9M | 3.3% | +2.6% |
| BNTCBenitec Biopharma Inc | $154.5M | 3.2% | |
| Biohaven LtdCUSIP G1110E107 | $153.1M | 3.2% | |
| AMDAdvanced Micro Devices Inc | $149.4M | 3.1% | |
| RCUSArcus Biosciences Inc | $147.3M | 3.1% | −5.1% |
| TSMTaiwan Semiconductor Manufac | $145.5M | 3.1% | +2.0% |
| NVDANvidia Corporation | $144.2M | 3.0% | +25.4% |
| EYPTEyepoint Inc | $118.6M | 2.5% | |
| SYYSysco Corp | $118.0M | 2.5% | +21.8% |
| GEGe Aerospace | $116.0M | 2.4% | |
| Immatics N.vCUSIP N44445109 | $113.4M | 2.4% | |
| MGMMgm Resorts International | $111.2M | 2.3% | +7.7% |
| METAMeta Platforms Inc | $99.0M | 2.1% | +3.6% |
| CAPRCapricor Therapeutics Inc | $98.6M | 2.1% | +7.2% |
| KURAKura Oncology Inc | $94.1M | 2.0% | |
| GLUEMonte Rosa Therapeutics Inc | $85.9M | 1.8% | −16.0% |
| AVLNAvalyn Pharmaceuticals Inc | $82.4M | 1.7% | New |
| HDHome Depot Inc | $79.7M | 1.7% | +2.0% |
| HUTHut 8 Corp | $77.3M | 1.6% | New |
| COFCapital One Finl Corp | $66.8M | 1.4% | +10.2% |
| VMCVulcan Matls Co | $63.4M | 1.3% | +18.4% |
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 |
|---|---|---|---|
| PVLAPalvella Therapeutics Inc Ne | December 31, 2024 | +1173.5% | $173.5M |
| AMDAdvanced Micro Devices Inc | December 31, 2022 | +796.9% | $149.4M |
| GLUEMonte Rosa Therapeutics Inc | June 30, 2024 | +547.1% | $85.9M |
| TSMTaiwan Semiconductor Manufac | December 31, 2023 | +359.2% | $145.5M |
| BNTCBenitec Biopharma Inc | September 30, 2023 | +343.0% | $154.5M |
| METAMeta Platforms Inc | September 30, 2022 | +315.2% | $99.0M |
| GEGe Aerospace | June 30, 2023 | +240.2% | $116.0M |
| AMZNAmazon Com Inc | March 31, 2023 | +130.7% | $48.8M |
| MANEVeradermics Inc | March 31, 2026 | +94.7% | $512.5M |
| AVBPArrivent Biopharma Inc | March 31, 2024 | +94.5% | $156.9M |
Sold off last quarter
- Apellis Pharmaceuticals IncCUSIP 03753U106 was $141.5M
- Kalvista Pharmaceuticals IncCUSIP 483497103 was $96.0M
- ERASErasca Inc was $55.6M
- LTHLife Time Group Holdings Inc was $13.7M
- WINGWingstop Inc was $9.2M
- COHRCoherent Corp was $7.1M
- Medtronic PLCCUSIP G5960L103 was $6.3M
- Kezar Life Sciences IncCUSIP 49372L209 was $5.3M
- MTDMettler Toledo International was $2.5M
- TSLATesla Inc was $1.9M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +26.1% | +14.8% |
| March 31, 2026 | −7.6% | −4.6% |
| December 31, 2025 | +8.6% | +2.4% |
| September 30, 2025 | +19.2% | +7.8% |
| June 30, 2025 | +9.2% | +10.5% |
| March 31, 2025 | −7.2% | −4.6% |
| December 31, 2024 | −3.6% | +2.1% |
| September 30, 2024 | +11.2% | +5.4% |
| June 30, 2024 | −5.8% | +4.0% |
| March 31, 2024 | +14.8% | +10.0% |
| December 31, 2023 | +22.1% | +11.2% |
| September 30, 2023 | −8.0% | −3.6% |
| June 30, 2023 | +8.3% | +8.3% |
| March 31, 2023 | +0.4% | +7.0% |
| December 31, 2022 | +6.6% | +7.1% |
| September 30, 2022 | −3.4% | −5.3% |
| June 30, 2022 | −14.2% | −16.5% |
| March 31, 2022 | −11.9% | −4.9% |
| December 31, 2021 | −1.1% | +10.7% |
| September 30, 2021 | −5.1% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Montanova Capital, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1569064&type=13F-HR&dateb=&owner=include&count=40CIK 1569064
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1569064/000117266126003727/Filed August 14, 2026 · accession 0001172661-26-003727