Q4 2025 · 13F-HR
Valiant Capital Management, L.P.holdings as filed
Filed 2026-02-17 · accession 0000935836-26-000098
$1.77B
Reported value
33
Positions
2025-12-31
Period end
The Brief · Valiant Capital Management, L.P. · Q4 2025
AI · grounded in 13F
Valiant Capital Management, L.P. established a new position in QQQ valued at $344.01M. The fund also opened new stakes in PUMP for $34.89M and SEI for $33.76M. On the sell side, the fund closed its entire position in CRWV, exiting the holding for $51.32M. Additionally, it trimmed its holdings in GLD by 67.38% and AGX by 47.26%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 46090E103 | QQQ | INVESCO QQQ TR | $344.0M | 19.5% | 560,000 | PUT | NONE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $161.8M | 9.15% | 237,326 | Common | SOLE |
| 464287655 | IWM | ISHARES TR | $161.8M | 9.15% | 657,301 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $136.2M | 7.70% | 448,200 | CALL | NONE |
| 21874A106 | CORZ | CORE SCIENTIFIC INC NEW | $92.3M | 5.22% | 6,336,424 | Common | SOLE |
| 36828A101 | GEV | GE VERNOVA INC | $66.4M | 3.76% | 101,637 | Common | SOLE |
| 21874A106 | CORZ | CORE SCIENTIFIC INC NEW | $55.8M | 3.15% | 3,830,000 | CALL | NONE |
| 11135F101 | AVGO | BROADCOM INC | $48.0M | 2.72% | 138,802 | Common | SOLE |
| 04010E109 | AGX | ARGAN INC | $42.1M | 2.38% | 134,273 | Common | SOLE |
| 78463V107 | GLD | SPDR GOLD TR | $42.0M | 2.38% | 106,100 | CALL | NONE |
| 87256C101 | TKO | TKO GROUP HOLDINGS INC | $41.2M | 2.33% | 196,917 | Common | SOLE |
| 40415F101 | HDB | HDFC BANK LTD | $41.0M | 2.32% | 1,122,032 | Common | SOLE |
| 92189F106 | GDX | VANECK ETF TRUST | $39.8M | 2.25% | 464,104 | Common | SOLE |
| 40145W101 | GRDN | GUARDIAN PHARMACY SVCS INC | $37.1M | 2.10% | 1,232,463 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $35.9M | 2.03% | 155,404 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $35.1M | 1.99% | 72,655 | Common | SOLE |
| 74347M108 | PUMP | PROPETRO HLDG CORP | $34.9M | 1.97% | 3,668,820 | Common | SOLE |
| 874054109 | TTWO | TAKE-TWO INTERACTIVE SOFTWAR | $34.2M | 1.93% | 133,495 | Common | SOLE |
| 83418M103 | SEI | SOLARIS ENERGY INFRAS INC | $33.8M | 1.91% | 734,499 | Common | SOLE |
| 74967X103 | RH | RH | $32.7M | 1.85% | 182,765 | Common | SOLE |
| 74762E102 | QURE | QUANTA SVCS INC | $29.7M | 1.68% | 70,381 | Common | SOLE |
| 92840M102 | VST | VISTRA CORP | $28.9M | 1.63% | 178,927 | Common | SOLE |
| 532457108 | LLY | ELI LILLY & CO | $28.5M | 1.61% | 26,526 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $26.5M | 1.50% | 141,979 | Common | SOLE |
| 79466L302 | CRM | SALESFORCE INC | $24.7M | 1.40% | 93,336 | Common | SOLE |
| 22788C105 | CRWD | CROWDSTRIKE HLDGS INC | $22.9M | 1.29% | 48,776 | Common | SOLE |
| 98954M200 | Z | ZILLOW GROUP INC | $21.7M | 1.23% | 318,443 | Common | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $17.4M | 0.99% | 185,880 | Common | SOLE |
| 96924N100 | WLDN | WILLDAN GROUP INC | $15.8M | 0.89% | 152,531 | Common | SOLE |
| G25457105 | CRDO | CREDO TECHNOLOGY GROUP HOLDI | $14.7M | 0.83% | 101,853 | Common | SOLE |
| 81762P102 | NOW | SERVICENOW INC | $13.9M | 0.79% | 90,666 | Common | SOLE |
| 90353T100 | UBER | UBER TECHNOLOGIES INC | $4.9M | 0.27% | 59,464 | Common | SOLE |
| 73933G202 | PSIX | POWER SOLUTIONS INTL INC | $2.3M | 0.13% | 40,401 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.