Breaking down the stocks Worldly Partners bought, sold, and held in Q1 2026, including their holdings at the end of the quarter. All data sourced from Worldly Partners' 13F filed on May 12, 2026.
Who are Arvind Navaratnam and Worldly Partners?
Founded by Arvind Navaratnam in 2020, Worldly Partners is a research-intensive, highly concentrated investment partnership for a select group of families, university endowments, and charitable foundations. Worldly Partners takes a multi-decade first principles approach to investing. Our approach is one of rigorous analysis, underpinned by independent and proprietary research contextualized by our deep study of business history. Worldly Partners is famous for their multi-decade studies on companies like IKEA, Epic Systems, Alphabet, and Mars, which have been used as core research for Acquired’s long-form podcast episodes on the companies.
Worldlypartners.com
Q1 '26 13F filed with SEC
Holdings in Q1 2026
| Ticker | Company | Weight | Change | Value |
|---|---|---|---|---|
| FND | Floor & Decor | 57.0% | Added (+12%) | $67.52B |
| COST | Costco | 42.0% | Trimmed (-29%) | $49.7B |
| CDLX | Cardlytics | 1.0% | $1.22B |
Current Investment Strategy
Worldly Partners, the research-intensive Boston-based partnership founded by Arvind Navaratnam in 2020, ran an ultra-concentrated portfolio as of the end of Q1 2026, anchored by a single disclosed position in Cardlytics (CDLX) — a commerce media platform leveraging first-party bank transaction data — maintaining no new additions or exits during the quarter. In the tradition of Charlie Munger's patient capital philosophy, the firm made no changes to its holdings, reflecting its conviction-driven, multi-decade approach of owning a handful of exceptional businesses long enough to compound generational wealth for its select base of family offices, university endowments, and charitable foundations.
New Investments
Worldly Partners did not open any new positions during Q1 2026.
Added, Trimmed, and Exited
Added
Worldly Partners added 145,600 shares to their existing position in Floor & Decor (FND), growing the stake from 1,183,580 to 1,329,180 shares.
What it means: Notably, Worldly Partners increased their Floor & Decor (FND) position despite the stock declining roughly 6.3% during the quarter — a classic conviction-driven move of adding to a falling position. This suggests Arvind Navaratnam views the weakness as a buying opportunity rather than a fundamental deterioration, consistent with the firm's stated multi-decade, first-principles investment philosophy. Floor & decor retail has faced headwinds from a sluggish housing market, so this add signals a long-term bet on an eventual housing recovery.
Trimmed
Worldly Partners trimmed their position in Costco (COST) by 20,527 shares, reducing the holding from 70,401 to 49,874 shares — a reduction of roughly 29%.
What it means: Cutting nearly a third of the Costco (COST) position is a meaningful reduction for such a concentrated portfolio. This could reflect portfolio rebalancing after Costco's strong run, with proceeds potentially being redeployed into higher-conviction ideas like Floor & Decor (FND). It may also signal that at current valuations, Costco offers less margin of safety than it once did relative to the firm's other holdings.
Exited
Worldly Partners made no full exits from any positions this quarter.
Disclaimer: All posts are for informational purposes only. They are NOT a recommendation to buy or sell the securities discussed. Please do your own research and due diligence before investing your money.
