Alpha-File

Building the ultimate 13F tracker and vibe-coding a CapIQ for fun.

[Alpha-File @AlphaFileHQ]

https://t.co/7okSOn4Vjk

[Alpha-File @AlphaFileHQ]

New Manager Profile: Baillie Gifford’s Scottish Mortgage Investment Trust

Scottish Mortgage put £151m into $SPCX between 2018 and 2021.

By March 2026 the stake was worth £2.98bn — 19.7x invested capital, and 19.3% of the entire trust.

The position became a fifth of Britain's largest investment trust purely because the thesis worked faster than everything else in the portfolio.

That single holding contributed 14.9 of the trust's 27.4% NAV return last year. More than every other position combined.

[Alpha-File @AlphaFileHQ]

See this data (free) for every single manager at https://t.co/bXBteveo02

[Alpha-File @AlphaFileHQ]

DSM Capital Partners just filed their 13F. They are They have 42% of their portfolio in $NVDA $GOOGL $AVGO adn $ANET and are very much long AI accelerators and datacenter networking.

[Alpha-File @AlphaFileHQ]

New Buys: $APH $DELL $COHR $KEYS $NTAP $BKNG $ATI

Exits and Major Trims: $MSFT $AMZN $INTU $V $MA

[Alpha-File @AlphaFileHQ]

New Manager Profile: Baillie Gifford (Part 1)
From financing rubber plantations in 1909 to owning SpaceX: the story of Baillie Gifford and Scottish Mortgage. Part 1 looks at the firm’s early history
https://t.co/EQzNt8FQgX

[Alpha-File @AlphaFileHQ]

Fairly boring quarter from $MKL

[Alpha-File @AlphaFileHQ]

Check out more charts for every manager on https://t.co/bXBteveo02

[Alpha-File @AlphaFileHQ]

Long Path Partners released 13F today. Heavily exposed to software (60%+) historically via $NCNO $ALKT. Initiating on $TYL $SPSC and addign to $VEEV whilst cutting $PCOR and basically existing $IIIV. Still remain very long SaaS.

[Alpha-File @AlphaFileHQ]

DaVita. W.R. Grace in bankruptcy. Bank of America in early 2009. Airlines. Cigar butts.
The edge wasn’t a style box. It was an operator’s lens, deep research, concentration and ruthless opportunity cost.

Full reconstruction, charts and sources: https://t.co/3iUnAaFuF2

[Alpha-File @AlphaFileHQ]

Deep Dive: Ted Weschler
Before joining $BRK.B, Ted Weschler ran a one-man hedge fund above a Charlottesville bookstore and returned roughly 1,030% cumulatively.
But Peninsula looked nothing like a conventional “Buffett-style” portfolio.

[Alpha-File @AlphaFileHQ]

$MSFT ROIC. Fair calculation?

[Alpha-File @AlphaFileHQ]

@RealJimChanos It's still pretty high - adjusting for everything and this fully docks them for in-place capex that isn't earning anything.

[Alpha-File @AlphaFileHQ]

one interesting thin about them - you usually see one major winner in a concentrated fund. All of their winners are roughly the same contribution

[Alpha-File @AlphaFileHQ]

Greenhaven Associates — value investor that traditionally buys homebuilders and industrials initiates on beaten down CRO's and IT Services $ACN $EPAM $IQV and $BDX

https://t.co/7eKdHgTcqL

[Alpha-File @AlphaFileHQ]

https://t.co/fLzgSoca89

[Alpha-File @AlphaFileHQ]

Deep Dive: Hyperscaler Capex.

How much are hyperscalers actually spending? How do you do a real apples-to-apples taking into account leases and SPVs? How much is being spent to serve internal versus external workloads and what are some strategic implications? I do a deep dive $GOOG $GOOGL $MSFT $AMZN $ORCL and $META

[Alpha-File @AlphaFileHQ]

https://t.co/VFeAUA35BL

[Alpha-File @AlphaFileHQ]

New manager profile: Rob Vinall and RV Capital.

Vinall launched the Business Owner Fund two weeks after Lehman Brothers failed. By the end of 2025, its NAV had compounded at 16.4% annually—but the path included an almost 50% drawdown, a near-disaster in $CVNA and a remarkable recovery.

The profile explores RV’s owner-oriented philosophy, its unusually concentrated portfolio, the role of Andreas Lechner, its overlooked foreign holdings and the investor community Vinall has built around the annual gathering in Engelberg.

It also includes reconstructed portfolio history, position-level charts and estimated P&L attribution using data from https://t.co/FUvK9ayhhm.

[Alpha-File @AlphaFileHQ]

@SouthernValue95 Math is here https://t.co/jfje4SdGwG

[Alpha-File @AlphaFileHQ]

@SouthernValue95 Might be better than 15% to 20%