# Whitebark Investors LP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2042091. Source: https://holderbook.com/funds/2042091-whitebark-investors-lp/

- Reported value: $129.5M
- Positions: 10
- Weight of the ten largest: 100.0%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| GLOBAL E ONLINE LTD | [GLBE](https://holderbook.com/stocks/GLBE/) | $20.7M | 595,432 | 16.0% | 7 |
| COUPANG INC | [CPNG](https://holderbook.com/stocks/CPNG/) | $18.7M | 1,078,020 | 14.5% | 7 |
| GROCERY OUTLET HLDG CORP | [GO](https://holderbook.com/stocks/GO/) | $16.2M | 1,619,274 | 12.5% | 6 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $15.6M | 41,893 | 12.1% | 7 |
| KLARNA GROUP PLC | [KLAR](https://holderbook.com/stocks/KLAR/) | $14.0M | 690,366 | 10.8% | 4 |
| FLUTTER ENTMT PLC | [FLUT](https://holderbook.com/stocks/FLUT/) | $13.8M | 134,766 | 10.6% | 7 |
| GOOSEHEAD INS INC | [GSHD](https://holderbook.com/stocks/GSHD/) | $13.1M | 269,322 | 10.1% | 7 |
| BLEND LABS INC | [BLND](https://holderbook.com/stocks/BLND/) | $10.8M | 6,343,497 | 8.4% | 7 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $4.1M | 8,595 | 3.2% | 1 |
| SHENANDOAH TELECOMMUNICATION | [SHEN](https://holderbook.com/stocks/SHEN/) | $2.5M | 167,153 | 1.9% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +9.5% | +14.8% | -5.3% | 100% |
| Q1 2026 | -32.3% | -4.6% | -27.7% | 100% |
| Q4 2025 | -9.2% | +2.4% | -11.5% | 100% |
| Q3 2025 | +0.7% | +7.8% | -7.1% | 100% |
| Q2 2025 | +13.2% | +10.5% | +2.8% | 100% |
| Q1 2025 | -4.0% | -4.6% | +0.5% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $129.5M | 10 |
| Q1 2026 | $125.1M | 9 |
| Q4 2025 | $166.0M | 9 |
| Q3 2025 | $210.0M | 10 |
| Q2 2025 | $365.7M | 9 |
| Q1 2025 | $190.7M | 9 |
| Q4 2024 | $215.8M | 9 |