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Aperture Investors, LLC
Peter Kraus · Asset Manager · Multi-Strategy
Aperture Investors, LLC is an alternative asset manager founded in 2018 by Peter Kraus, the former Chairman and CEO of AllianceBernstein, in partnership with Generali Investments. Based in New York, the firm was established to redefine the relationship between asset managers and clients by prioritizing performance over asset growth. Aperture operates across global credit and equity ecosystems, specializing in actively managed, capacity-constrained strategies that include long/short equity, corporate credit, and asset-based finance. The firm distinguishes itself through a unique fee structure designed to align manager compensation directly with the generation of alpha, ensuring that the institution remains focused on delivering excess returns for its institutional and individual investors.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +13.5% |
| YTD return | +12.4% |
| Sharpe ratio | 3.10 |
| Win rate | 35% |
| AUM | $0.7B |
| Inception | Oct 1, 2025 |
| Updated | Oct 12, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $0.7B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://apertureinvestors.com |
Current Holdings
Updated on Oct 12, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| ASML | ASML Holding NV ADR | 18.5% | +5.5% |
| IFNNY | Infineon Technologies AG ADR | 10.5% | +0.0% |
| SN | SharkNinja, Inc. | 6.2% | +59.8% |
| IDCC | InterDigital Inc | 5.8% | +16.3% |
| SAN | Banco Santander SA ADR | 5.7% | -4.4% |
| ASMIY | ASM International NV ADR | 5.0% | 0.0% |
| NOK | Nokia Corp ADR | 4.7% | +6.6% |
| LIN | Linde plc Ordinary Shares | 4.2% | -5.1% |
| VIAV | Viavi Solutions Inc | 4.0% | -10.4% |
| TIGO | Millicom International Cellular SA | 3.7% | +18.5% |
| RWEOY | RWE AG PK | 3.4% | 0.0% |
| FSS | Federal Signal Corporation | 3.3% | -3.8% |
| SPXC | SPX Corp | 3.3% | -21.1% |
| SAP | SAP SE ADR | 3.3% | -1.0% |
| MTN | Vail Resorts Inc | 3.2% | 0.0% |
| FND | Floor & Decor Holdings Inc | 3.2% | -21.2% |
| STRL | Sterling Construction Company Inc | 3.1% | +9.7% |
| LSCC | Lattice Semiconductor Corporation | 3.0% | -3.4% |
| NBIS | Nebius Group N.V. | 3.0% | +1.2% |
| TSM | Taiwan Semiconductor Manufacturing | 3.0% | -5.6% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Oct 12, 2026 | SELL | SAP | 3.0% → 3.3% |
| Oct 12, 2026 | SELL | NBIS | 3.2% → 3.0% |
| Oct 12, 2026 | SELL | SN | 5.9% → 6.2% |
| Oct 12, 2026 | BUY | SAN | 5.4% → 5.7% |
| Oct 12, 2026 | BUY | IDCC | 5.7% → 5.8% |
Investment Style Analysis
Aperture Investors, LLC is widely recognized for employing a Multi-Strategy strategy. As of Oct 12, 2026, the firm oversees approximately $0.7B in assets under management (AUM). The portfolio demonstrates a clear preference for the Semiconductor Equipment & Materials and Semiconductors sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Oct 12, Aperture Investors, LLC made a significant move by reducing the position in SAP. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Aperture’s investment philosophy is built on the core principle of 'Active Management with Accountability,' which seeks to align the incentives of the firm and its managers with those of its investors. The firm rejects the traditional asset-gathering model that relies on high fixed management fees, instead utilizing a performance-linked compensation structure where fees are primarily earned through outperformance relative to benchmarks. Aperture believes that capacity constraints are vital to maintaining a robust opportunity set and avoiding the pitfalls of 'closet indexing.' By combining fundamental research with a disciplined focus on downside protection and selective deployment, the firm aims to capture differentiated opportunities in credit and equity markets while maintaining a client-centric focus on alpha generation.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Aperture Investors, LLC.
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Frequently asked questions
How is the simulated portfolio for Aperture Investors, LLC constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Aperture Investors, LLC's largest holding?
As of the latest filing, Aperture Investors, LLC's top position is ASML Holding NV ADR (ASML), representing 18.5% of the portfolio. This reflects a high-conviction bet by the institution.
What is Aperture Investors, LLC's historical performance and risk profile?
Our simulation indicates a total return of +13.5% with a win rate of 35%. Notably, the portfolio maintains a Sharpe Ratio of 3.10, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Aperture Investors, LLC primarily invest in?
Aperture Investors, LLC has a strong preference for the Semiconductor Equipment & Materials sector, which makes up 23.5% of their disclosed assets. The portfolio also has exposure to Semiconductors, indicating a specific thematic focus.
Is Aperture Investors, LLC's portfolio concentrated or diversified?
Aperture Investors, LLC runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 35.2% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Aperture Investors, LLC performed in 2026?
Our AI-simulated model portfolio for Aperture Investors, LLC tracks a Year-to-Date (YTD) return of +12.4%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Peter Kraus manage Aperture Investors, LLC directly?
Yes, Peter Kraus serves as the key portfolio manager for Aperture Investors, LLC, overseeing the investment strategy and final capital allocation decisions.