Stocks/Funds/CIK 1796409

Heard Capital LLC

long-term holderconcentrated
Quarterly 13F filings · Latest period 2026-03-31 · CIK 1796409
Assets
$1.93B
+14.9% YoY
Holdings
21
Lifetime alpha vs market
+1.74% annual
Average hold time
5.2 yr
median 6.3 yr

Quarterly history

Cum return +63% vs S&P +52% · α +11% lifetimeAUM $1.9B · peak $2.1BFlow $21M (+1%)2019-122020-122021-122022-122023-122024-122025-122026-03
AUM ($B)fundS&P 500(gap = α)/ Flow in/out

Behavior signals (lifetime)

Dip response
+9.92%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.17%
steady accumulation
Rally response
-8.04%
trims into rallies
when a holding rises +10%+

Top positions · 21

Ticker$ value% portYoYHold time
LRCXLam Research Corporation$229M11.8%+196.1%1.5 yr
TDGTransDigm Group Incorpor$207M10.7%-10.5%6.5 yr
PLTRPalantir Technologies In$193M10.0%+73.3%1.5 yr
AMTAmerican Tower Corporati$192M9.9%-17.9%6.5 yr
FICOFair Isaac Corporation$190M9.8%-42.1%6.5 yr
APOApollo Global Management$187M9.7%-17.4%4.3 yr
BXBlackstone Inc.$142M7.3%-14.9%6.5 yr
AVAVAeroVironment, Inc.$132M6.8%+53.6%5.8 yr
ADBEAdobe Inc.$108M5.6%-36.6%6.5 yr
AXPAmerican Express Company$103M5.3%+13.3%3.3 yr
ESLTElbit Systems Ltd.$92M4.8%+122.6%2.5 yr
ATEXAnterix Inc.$66M3.4%+4.3%5.5 yr
MCMoelis & Company$56M2.9%+1.8%6.5 yr
TSATTelesat Corporation$22M1.1%+92.2%4.5 yr
EQIXEquinix, Inc.$5M0.3%+23.0%6.3 yr

Portfolio composition (YoY)

Industry mix
Aerospace & Defense22.3%-0.5pp$431M
Asset Management17.1%-1.3pp$330M
Software - Application15.4%-3.9pp$298M
Semiconductors12.0%+3.6pp$232M
REIT - Specialty10.2%-0.4pp$197M
Software - Infrastructure10.0%+5.0pp$193M
Financial - Credit Services5.3%-1.1pp$103M
Telecommunications Services3.4%-0.4pp$66M
Financial - Capital Markets2.9%-0.3pp$56M
Communication Equipment1.1%-0.7pp$22M
Country
US94.1%+0.3pp
IL4.8%+0.4pp
CA1.1%-0.7pp
Top 5: 52.3% · Top 10: 87.0% · Top 25: 100.0%

Winners

TickerPrev $PnLYoY %
LRCX$139M+0.27B196.1%
ESLT$74M+0.09B122.6%
PLTR$84M+0.06B73.3%
AVAV$100M+0.05B53.6%
TSAT$31M+0.03B92.2%

Losers

TickerPrev $PnLYoY %
FICO$176M-0.07B-42.1%
ADBE$150M-0.05B-36.6%
AMT$174M-0.03B-17.9%
APO$153M-0.03B-17.4%
BX$154M-0.02B-14.9%

Top buys this quarter · 9

PLTR Palantir Technologies Inc.+$61M
ADBE Adobe Inc.+$33M
FICO Fair Isaac Corporation+$190M
APO Apollo Global Management, Inc.+$187M
TDG TransDigm Group Incorporated+$207M
BX Blackstone Inc.+$142M
QCOM QUALCOMM Incorporated+$3M
AMZN Amazon.com, Inc.+$4M
EQIX Equinix, Inc.+$0M

Top sells this quarter · 9

ESLT Elbit Systems Ltd.$60M
LRCX Lam Research Corporation$221M
TSAT Telesat Corporation$22M
AMT American Tower Corporation$9M
AXP American Express Company$2M
AVAV AeroVironment, Inc.$0M
PLD Prologis, Inc.$0M
MC Moelis & Company$0M
IAC IAC InterActive Corp.$0M

Quarterly history (TTM returns)

PeriodAUM# PosReturn (1yr)SPY (1yr)Alpha (1yr)Flow
2026-03-31$1.93B21+14.33%+17.59%-3.27%+0.02B
2025-12-31$2.13B21+24.23%+17.72%+6.51%-0.00B
2025-09-30$2.06B21+17.63%+17.52%+0.11%+0.08B
2025-06-30$1.91B21+29.21%+14.94%+14.27%-0.08B
2025-03-31$1.68B22+13.14%+8.30%+4.84%+0.04B
2024-12-31$1.68B22+19.93%+24.89%-4.95%-0.07B
2024-09-30$1.78B22+46.60%+36.04%+10.56%-0.08B
2024-06-30$1.64B22+28.53%+24.49%+4.03%-0.02B
2024-03-31$1.59B22+39.12%+29.62%+9.50%+0.05B
2023-12-31$1.49B22+48.51%+26.18%+22.33%-0.10B
2023-09-30$1.33B21+41.22%+21.57%+19.65%+0.04B
2023-06-30$1.30B21+26.30%+19.42%+6.87%-0.05B
2023-03-31$1.20B22-9.39%-7.82%-1.58%+0.18B
2022-12-31$923M20+13.81%+7.56%+6.25%-0.03B
2022-09-30$834M22-10.72%-4.93%-5.79%+0.03B
2022-06-30$902M23-19.29%-16.11%-3.18%+0.02B