ELKHORN PARTNERS LIMITED PARTNERSHIP

CIK 0000928400 · Q1 2026

13F Equity AUM

$157.1M

-0.8% QoQ

Positions

-2 QoQ

AUM Rank

#8,360

Top 67%

Skill Alpha (FF)

-1.2%/yr^ns

No Clear Edge

Rank #3,957 · Top 48%

vs S&P -12.4%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 89.1%Top 10: 96.7%Top 20: 98.8%

KW28.9%

BRK/A22.9%

WTM17.8%

BRK/B16.6%

GOOGL2.9%

GOOG2.6%

CDZI2.0%

AAPL2.0%

BA0.6%

TRVC0.4%

Others (37)3.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services34.4%

Real Estate29.0%

Financials22.9%

Communication Services6.2%

Technology2.7%

Utilities2.0%

Other2.8%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 47Median: 0.09%Avg: 2.13%

0–0.5%

38(3.7%)

0.5–1%

1(0.6%)

1–3%

4(9.5%)

3–5%

0(0.0%)

5%+

4(86.2%)

Count of positions per weight bucket — (%) = combined portfolio weight

Loading summary cards...

Portfolio Overlap

Shared: 43Unique: 4vs 20 funds

0.6%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock, Inc.

1.1%

VANGUARD CAPITAL MANAGEMENT LLC

1.2%

STATE STREET CORP

1.2%

MORGAN STANLEY

0.8%

BANK OF AMERICA CORP /DE/

0.8%

VANGUARD PORTFOLIO MANAGEMENT LLC

1.4%

GEODE CAPITAL MANAGEMENT, LLC

1.1%

JPMORGAN CHASE & CO

0.8%

FMR LLC

1.2%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

Loading overlap analysis...

Position Changes This Quarter

New9Increased17Decreased14Exited11

New Positions

PANW0.1%

+2K

CRM0.1%

+1K

MAX0.1%

+23K

MICROSOFT CORP0.1%

+565

NOW0.1%

+1K

AXP0.1%

+350

NVDA0.0%

+300

DIS0.0%

+500

QXO0.0%

+1K

Increased

CRDF0.1%

+6K(+17%)

NEPH0.0%

+5K(+71%)

KMB0.4%

+4K(+172%)

FORR0.0%

+2K(+67%)

BA0.6%

+740(+18%)

UBER0.1%

+700(+37%)

NFLX0.1%

+700(+70%)

AAPL2.0%

+540(+5%)

AMZN0.1%

+530(+265%)

BHVN0.0%

+500(+33%)

Decreased

OXY0.0%

-37,300(-98%)

KW28.9%

-35,500(-1%)

DOW0.1%

-24,300(-92%)

ACTG0.1%

-9,500(-28%)

CDZI2.0%

-8,500(-1%)

FGNXP0.0%

-4,900(-70%)

CLF0.1%

-2,900(-23%)

DD0.1%

-1,600(-33%)

IFF0.4%

-900(-10%)

WTM17.8%

-898(-7%)

Exited

-2,500

-150

-1,500

-2,200

-200

-100

-100

-100

-1,000

-100

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

Loading position changes...

Holdings

Loading holdings...