Institutional Manager · CIK 0001452689
Valiant Capital Management, L.P.
San Francisco, CA · File #028-13282
Latest AUM
$1.77B
Positions
33
Top-10 Concentration
65.1%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| NEW | INVESCO QQQ TR | IVZ | +560,000 | +$344.0M | $0 |
| REDUCE | SPDR GOLD TR | GLD | -219,200 | -$86.9M | +$13.3M |
| ADD | ISHARES TR | 464287655 | +234,444 | +$57.7M | +$1.8M |
| ADD | SPDR S&P 500 ETF TR | SPY | +82,824 | +$56.5M | +$2.4M |
| EXITED | COREWEAVE INC | 21873S108 | -375,000 | -$51.3M | $0 |
| REDUCE | ARGAN INC | AGX | -120,327 | -$37.7M | +$11.0M |
| NEW | PROPETRO HLDG CORP | PUMP | +3,668,820 | +$34.9M | $0 |
| NEW | SOLARIS ENERGY INFRAS INC | SEI | +734,499 | +$33.8M | $0 |
| ADD | NETFLIX INC | NFLX | +166,537 | +$15.6M | -$21.4M |
| REDUCE | ELI LILLY & CO | LLY | -13,691 | -$14.7M | +$12.5M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202533 pos · $1.77B
- 13F HOLDINGS REPORTQ/E Sep 202532 pos · $1.45B
- 13F HOLDINGS REPORTQ/E Jun 202534 pos · $1.83B
- 13F HOLDINGS REPORTQ/E Mar 202535 pos · $1.37B
- 13F HOLDINGS REPORTQ/E Dec 202433 pos · $1.58B
- 13F HOLDINGS REPORTQ/E Sep 202432 pos · $1.81B
- 13F HOLDINGS REPORTQ/E Jun 202434 pos · $1.88B
- 13F HOLDINGS REPORTQ/E Mar 202433 pos · $1.58B
- 13F HOLDINGS REPORTQ/E Dec 202328 pos · $1.04B
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | INVESCO QQQ TR | IVZ | 560,000 | $344.0M | 19.46% |
| 2 | SPDR S&P 500 ETF TR | SPY | 237,326 | $161.8M | 9.15% |
| 3 | ISHARES TR | 464287655 | 657,301 | $161.8M | 9.15% |
| 4 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 448,200 | $136.2M | 7.70% |
| 5 | CORE SCIENTIFIC INC NEW | 21874A106 | 6,336,424 | $92.3M | 5.22% |
| 6 | GE VERNOVA INC | GEV | 101,637 | $66.4M | 3.76% |
| 7 | CORE SCIENTIFIC INC NEW | 21874A106 | 3,830,000 | $55.8M | 3.15% |
| 8 | BROADCOM INC | AVGO | 138,802 | $48.0M | 2.72% |
| 9 | ARGAN INC | AGX | 134,273 | $42.1M | 2.38% |
| 10 | SPDR GOLD TR | GLD | 106,100 | $42.0M | 2.38% |
| 11 | TKO GROUP HOLDINGS INC | TKO | 196,917 | $41.2M | 2.33% |
| 12 | HDFC BANK LTD | HDB | 1,122,032 | $41.0M | 2.32% |
| 13 | VANECK ETF TRUST | 92189F106 | 464,104 | $39.8M | 2.25% |
| 14 | GUARDIAN PHARMACY SVCS INC | 40145W101 | 1,232,463 | $37.1M | 2.10% |
| 15 | AMAZON COM INC | AMZN | 155,404 | $35.9M | 2.03% |
| 16 | MICROSOFT CORP | MSFT | 72,655 | $35.1M | 1.99% |
| 17 | PROPETRO HLDG CORP | PUMP | 3,668,820 | $34.9M | 1.97% |
| 18 | TAKE-TWO INTERACTIVE SOFTWAR | TTWO | 133,495 | $34.2M | 1.93% |
| 19 | SOLARIS ENERGY INFRAS INC | SEI | 734,499 | $33.8M | 1.91% |
| 20 | RH | RH | 182,765 | $32.7M | 1.85% |