# What the Smart Money Bought in Q2 2026: SPCX Entered 36 of 299 Focused 13F Books

> In Q2 2026, SPCX entered 36 of the 299 most focused 13F books ($49.4B in; none held it a quarter earlier), more than any other stock. D1 Capital Partners L.P. made it 62% of its book. CBRS (20) and NVDA (17) came next. 17 books sold out of CNTA ($1.5B out), the most of any name. Avoro Capital Advisors LLC sold $454.0M. Information Technology names take 9 of the 10 most-opened positions. From SEC 13F and Form 4 filings, no price data, every row sourced to the filing.
> Quarter ended 2026-06-30 (Q2 2026). Computed 2026-09-06 under score version fqs-v3. 13F holdings are filed up to 45 days after quarter-end; positions are as of 2026-06-30 and were broadly public by ~2026-08-14. This is where money WAS, not where it is now.

In Q2 2026, SPCX entered 36 of the 299 most focused 13F books ($49.4B in; none held it a quarter earlier), more than any other stock. D1 Capital Partners L.P. made it 62% of its book. CBRS (20) and NVDA (17) came next. 17 books sold out of CNTA ($1.5B out), the most of any name. Avoro Capital Advisors LLC sold $454.0M. Information Technology names take 9 of the 10 most-opened positions.

## Opened: the names that entered the most of the 299 focused books, Q2 2026

Ranked by funds opening a new position, then money in (the added fraction of the filer's reported value; no market price).

| # | Stock | Funds | Money | Share of book (median) | Biggest mover | Insiders bought | Rank in Q1 2026 |
|---|---|---|---|---|---|---|---|
| 1 | SPCX (Space Exploration Techn Corp) | 36 (0 held before, 0 added) | $49.4B | 0.8% | D1 Capital Partners L.P. · $21.5B · 62% of book | 0 | new to list |
| 2 | CBRS (Cerebras Systems Inc) | 20 (0 held before, 0 added) | $4.8B | 1.1% | Altimeter Capital Management, LP · $1.6B · 16% of book | 0 | new to list |
| 3 | NVDA (Nvidia Corporation) | 17 (87 held before, 25 added) | $1.9B | 2.8% | RK Capital Management, LLC · $533.9M · 4.9% of book | 0 | #1 |
| 4 | MU (Micron Technology Inc) | 16 (34 held before, 12 added) | $10.0B | 1.6% | Situational Awareness LP · $5.6B · 28% of book | 0 | #3 |
| 5 | AMD (Advanced Micro Devices Inc) | 14 (32 held before, 10 added) | $2.0B | 1.2% | Whale Rock Capital Management LLC · $836.8M · 7.0% of book | 0 | new to list |
| 6 | DPC (DPC Holdings PLC) | 14 (0 held before, 0 added) | $1.3B | 1.9% | Hill City Capital, LP · $377.4M · 8.8% of book | 9 | new to list |
| 7 | INTC (Intel Corp) | 13 (19 held before, 7 added) | $2.7B | 0.6% | Coatue Management LLC · $1.7B · 3.5% of book | 1 | new to list |
| 8 | AMAT (Applied Matls Inc) | 12 (23 held before, 2 added) | $3.2B | 2.0% | Alkeon Capital Management LLC · $1.1B · 1.5% of book | 0 | new to list |
| 9 | NBIS (Nebius Group N.V.) | 12 (8 held before, 2 added) | $2.6B | 0.6% | Situational Awareness LP · $1.2B · 6.1% of book | 0 | new to list |
| 10 | SNOW (Snowflake Inc) | 12 (18 held before, 7 added) | $1.1B | 1.8% | Maverick Capital Ltd · $248.8M · 2.2% of book | 0 | new to list |

## Sold: the names the most books got out of, Q2 2026

Ranked by funds selling out, then money out (the removed fraction of the prior reported value). Share of book is the position's share of the seller's prior book.

| # | Stock | Funds | Money | Share of book (median) | Biggest mover | Insiders bought | Rank in Q1 2026 |
|---|---|---|---|---|---|---|---|
| 1 | CNTA (Centessa Pharmaceuticals PLC) | 17 (every one of 17 holders, likely a takeover or identifier change) | $1.5B | 2.9% | Avoro Capital Advisors LLC · $454.0M · 4.5% of book | 0 | new to list |
| 2 | NFLX (Netflix Inc.) | 14 (of 38 holders, 11 trimmed) | $929.6M | 1.6% | Tiger Global Management LLC · $234.5M · 1.0% of book | 0 | new to list |
| 3 | KALV () | 12 (every one of 12 holders, likely a takeover or identifier change) | $496.4M | 2.5% | Venrock Adviser, LLC · $130.3M · 4.9% of book | 0 | new to list |
| 4 | NVDA (Nvidia Corporation) | 11 (of 87 holders, 41 trimmed) | $2.9B | 3.9% | H&H International Investment, LLC · $1.3B · 12% of book | 0 | new to list |
| 5 | CWAN (Clearwater Analytics Hldgs I) | 11 (every one of 11 holders, likely a takeover or identifier change) | $253.6M | 0.4% | Starboard Value LP · $129.1M · 2.8% of book | 0 | new to list |
| 6 | AVGO (Broadcom Inc) | 10 (of 45 holders, 16 trimmed) | $1.8B | 1.9% | Tiger Global Management LLC · $566.6M · 4.9% of book | 1 | #16 |
| 7 | XOM (Exxon Mobil Corp) | 10 (of 20 holders, 4 trimmed) | $231.4M | 0.4% | Woodline Partners LP · $139.1M · 0.5% of book | 0 | new to list |
| 8 | GOOGL (Alphabet Inc) | 9 (of 88 holders, 38 trimmed) | $3.1B | 3.7% | Tiger Global Management LLC · $1.4B · 13% of book | 0 | #10 |
| 9 | LITE (Lumentum Hldgs Inc) | 9 (of 23 holders, 6 trimmed) | $423.3M | 1.9% | Atreides Management, LP · $187.9M · 3.8% of book | 0 | new to list |
| 10 | TSM (Taiwan Semiconductor Manufac) | 8 (of 76 holders, 34 trimmed) | $3.2B | 4.4% | Alkeon Capital Management LLC · $637.2M · 3.1% of book | 31 | new to list |

## The most focused books, Q2 2026

439 positively classified conviction filers scored. Score is a 0-100 price-free percentile blend: 40% breadth-adjusted top-10 focus, 20% reported book growth, 40% evidence-adjusted insider co-buy. Not a return ranking.

| # | Score | Fund | Reported book (change) | Top 10 share | Biggest bet | Biggest move this quarter |
|---|---|---|---|---|---|---|
| 1 | 99 | Element Capital Management LLC (Hedge fund, 53 names) | $3.2B (+204%) | 93% | SPCX $86.5M (2.7% of book) | SPCX +$86.5M (opened) |
| 2 | 96 | Lynx1 Capital Management LP (Hedge fund, 27 names) | $865.5M (+37%) | 99% | GHRS $356.5M (41% of book) | GHRS +$67.2M (added) |
| 3 | 95 | Redwood Capital Management, LLC (Hedge fund, 25 names) | $927.4M (+38%) | 87% | VSAT $197.9M (21% of book) | VSAT +$197.9M (opened) |
| 4 | 94 | Gendell Jeffrey L (Hedge fund, 103 names) | $11.3B (+54%) | 80% | IESC $7.6B (67% of book) | ORCL +$126.3M (opened) |
| 5 | 93 | Bain Capital Life Sciences Investors, LLC (Hedge fund, 21 names) | $1.7B (+52%) | 88% | KLRA $497.5M (30% of book) | KLRA +$497.5M (opened) |
| 6 | 93 | Avidity Partners Management LP (Hedge fund, 45 names) | $624.4M (+24%) | 82% | DNTH $205.1M (33% of book) | MOBI +$10.7M (opened) |
| 7 | 93 | Hill City Capital, LP (Hedge fund, 28 names) | $4.3B (+53%) | 80% | MTZ $896.6M (21% of book) | DPC +$377.4M (opened) |
| 8 | 93 | Samsara BioCapital, LLC (Hedge fund, 24 names) | $1.2B (+18%) | 91% | SRRK $379.4M (31% of book) | ALMR +$67.2M (opened) |
| 9 | 93 | Situational Awareness LP (Hedge fund, 23 names) | $20.2B (+48%) | 92% | SNDK $5.7B (28% of book) | MU +$5.6B (added) |
| 10 | 92 | Caligan Partners LP (Hedge fund, 25 names) | $2.1B (+41%) | 83% | LQDA $647.3M (31% of book) | MLYS −$75.1M (exited) |
| 11 | 91 | D1 Capital Partners L.P. (Hedge fund, 55 names) | $34.8B (+210%) | 77% | SPCX $21.5B (62% of book) | SPCX +$21.5B (opened) |
| 12 | 91 | Bracebridge Capital, LLC (Hedge fund, 26 names) | $5.5B (+48%) | 97% | GLD $233.4M (4.2% of book) | GLD −$137.7M (trimmed) |
| 13 | 91 | Ursa Fund Management, LLC (Hedge fund, 20 names) | $1.3B (+1090%) | 99% | MSFT $205.2M (16% of book) | MSFT +$205.2M (opened) |
| 14 | 91 | Blackhill Capital Inc (Hedge fund, 47 names) | $2.4B (+24%) | 95% | WSM $1.8B (74% of book) | ABT −$9.3M (trimmed) |
| 15 | 90 | Foresite Capital Management VI LLC (Hedge fund, 22 names) | $642.6M (+40%) | 83% | CGON $168.4M (26% of book) | CNTA −$54.2M (exited) |

## Where the same books rotated by sector

- Information Technology: +$81.4B conviction-weighted net flow
- Financials: −$27.5B conviction-weighted net flow
- Consumer Discretionary: −$12.2B conviction-weighted net flow

Full chart: https://arkolith.com/rotation?period=2026-06-30

## Questions

**What stocks were hedge funds buying in Q2 2026?**

Across the 299 most focused 13F books, the names opened by the most funds were SPCX (36 new positions, $49.4B in), CBRS (20 new positions, $4.8B in) and NVDA (17 new positions, $1.9B in). "Opened" means the fund did not hold the name in its prior 13F; money in is the added fraction of the filer's own reported value, never a market price.

**What were hedge funds selling in Q2 2026?**

The names the most focused books sold out of were CNTA (17 exits, $1.5B out), NFLX (14 exits, $929.6M out) and KALV (12 exits, $496.4M out). An exit is a position present in the prior 13F and absent now; money out is the removed fraction of the prior reported value.

**What does smart money mean on this page?**

Positively classified conviction filers only: hedge funds, private equity, family offices and holding companies with an eligible 13F book. Index funds, wealth platforms, pensions, insurers, endowments and unclassified filers never appear. 439 such books scored in Q2 2026; the tables read the 299 highest-scoring ones with a comparable prior filing. 13F holdings are filed up to 45 days after quarter-end; positions are as of 2026-06-30 and were broadly public by ~2026-08-14. This is where money WAS, not where it is now.

## Editions

- Q2 2026: https://arkolith.com/smart-money
- Q1 2026: https://arkolith.com/smart-money/2026-q1

## Get the full board and the brief behind any name

- MCP: `get_smart_money_leaderboard(period="2026-06-30")`, then `capital_change_brief(ticker="SPCX")`
- REST: `GET https://arkolith.com/api/v1/rotation/smart-money?period=2026-06-30`
- HTML: https://arkolith.com/smart-money

## Full data via the API and MCP

This page is a teaser. The complete book, full quarter-over-quarter history, and per-datapoint
provenance are available through the metered REST API and MCP server.

- Endpoint: https://arkolith.com/api/mcp (transport: streamable-http)
- Auth: Bearer API key. Mint one and copy a ready-to-paste command at https://arkolith.com/connect
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- Human docs: https://arkolith.com/docs

## Source and method

- SEC EDGAR Form 13F (institutional holdings) and Form 4 (insider transactions), public domain. Positions are as reported by the filer; no market price enters any number.
- Primary source: https://www.sec.gov/cgi-bin/browse-edgar?action=getcurrent&type=13F
- Human page: https://arkolith.com/smart-money
- Per-datapoint lineage: call the `provenance.get` MCP tool for the source URL and fetch history behind any figure.

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_Latest disclosed public filings. Data, not investment advice._