Invariant Investment Management
SEC Form 13F institutional filer · CIK 0001850871
13F-HR · 38 reported holdings · 2026-03-31
Reported long-US-equity value
$0.06B
Top-10 concentration
72.4%
Invariant Investment Management — $61M AUM allocation strategy
Invariant Investment Management files SEC Form 13F and reports $61M of long US equity value across 38 reported holdings for 2026-03-31.
Its largest sector bet is Financials 49.6%, followed by Information Technology 7.7% and Consumer Discretionary 4.6%.
The top 10 holdings account for 72% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Invariant Investment Management — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$61M
total across 38 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
72% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$IVV +4.64K sh · +$458K+$ADBE +1.59K sh · +$84.8K+$VOO +1.46K sh · +$808K
Biggest trims (shares)
−$IVZ −1.73K sh · +$511K−$NVDA −359 sh · −$71.6K−$TSLA −324 sh · −$307K
Added from nil (new positions)
None this quarter
Exited to nil (held last quarter, gone now)
$IT ($406K last qtr)$XLE ($249K last qtr)$BX ($235K last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Asset Management & Custody Banks46.4%—
- Health Care Distributors3.9%—
- Oil & Gas Exploration & Production3.4%—
- Technology Hardware, Storage & Peripherals3.2%—
- Transaction & Payment Processing Services3.2%—
- Tobacco2.2%—
- Industrial Machinery & Supplies & Components1.7%—
- Semiconductors1.7%—
- Other holdings34.4%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
8 of 8 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $IVZ | Invesco Ltd | 303K | $28.3M | -1.73K | 46.4% |
| $MO | Altria Group Inc | 19.3K | $1.3M | +460 | 2.1% |
| $AAPL | Apple Inc | 4.71K | $1.23M | -12 | 2.0% |
| $CAH | Cardinal Health Inc | 5.63K | $1.21M | +80 | 2.0% |
| $MCK | McKesson Corporation | 1.37K | $1.2M | +11 | 2.0% |
| $V | Visa Inc | 3.6K | $1.11M | +827 | 1.8% |
| $EQT | EQT Corporation | 18.5K | $1.1M | +443 | 1.8% |
| $GWW | W.W. Grainger Inc | 882 | $1.03M | +8 | 1.7% |
…and 30 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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