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Valiant Capital Management, L.P.

Q2 2025 · Filed 2025-08-14
Market Value
$1.3B
+39.9%
Holdings
32
+2
New Purchases
3
Added To
14
Closed
3
Reduced
6
Top 10 Concentration
57.8%
Turnover
18.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ABR 3.10% 0.00% +3.10% $40M
CORZ 6.32% 3.45% +2.87% $82M
RH 1.58% 0.00% +1.58% $21M
GEV 6.62% 5.10% +1.51% $86M
LLY 3.12% 1.84% +1.28% $40M
AVGO 4.99% 3.88% +1.11% $65M
BTBT 0.68% 0.00% +0.68% $9M
AGX 6.62% 5.96% +0.67% $86M
TTWO 2.87% 2.28% +0.59% $37M
CRDO 1.03% 0.63% +0.41% $13M
CRWD 2.72% 2.40% +0.32% $35M
NFLX 2.67% 2.37% +0.30% $35M
PSIX 0.30% 0.12% +0.18% $4M
MSFT 4.16% 4.06% +0.11% $54M
NVDA 2.45% 2.35% +0.10% $32M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
KGS 0.00% 3.48% -3.48% $0
SPY 7.94% 10.66% -2.71% $103M
IWM 7.99% 10.62% -2.63% $104M
CART 4.70% 5.80% -1.10% $61M
TKO 4.17% 5.25% -1.07% $54M
TAC 0.00% 0.97% -0.97% $0
CRM 2.78% 3.57% -0.79% $36M
HDB 4.20% 4.86% -0.67% $54M
GDX 2.64% 3.26% -0.62% $34M
Z 2.44% 3.06% -0.62% $32M
TLN 0.00% 0.12% -0.12% $0
VST 4.21% 4.26% -0.05% $55M
AMZN 3.03% 3.08% -0.05% $39M
UBER 0.43% 0.47% -0.04% $6M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 8 $454M 35.0%
Large Cap 13 $497M 38.3%
Mid Cap 7 $281M 21.7%
Small Cap 4 $65M 5.0%

Portfolio Analytics

Avg Market Cap
$522.7B
Median Market Cap
$47.4B
Avg P/E
46.4
Median P/E
29.8
Avg Dividend Yield
0.01%
Avg Beta
1.47
# Stocks
29
# ETFs / Funds
3

Top Holdings (32 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IWM 7.99% 480,107 $104M $215.79 $5M -13,270 -2.7%
2 SPY 7.94% 166,722 $103M $617.85 $4M -9,890 -5.6%
3 AGX 6.62% 389,615 $86M $220.48 $31M -31,500 -7.5%
4 GEV 6.62% 162,153 $86M $529.15 $38M +7,200 +4.7%
5 CORZ 6.32% 4,801,524 $82M $17.07 $50M +379,000 +8.6%
6 AVGO 4.99% 234,740 $65M $275.65 $29M +19,700 +9.2%
7 CART 4.70% 1,348,275 $61M $45.24 $7M
8 VST 4.21% 281,486 $55M $193.81 $15M -54,900 -16.3%
9 HDB 4.20% 710,000 $54M $76.67 $9M +31,400 +4.6%
10 TKO 4.17% 297,559 $54M $181.95 $6M -20,700 -6.5%
11 MSFT 4.16% 108,595 $54M $497.41 $16M +8,400 +8.4%
12 PWR 3.24% 111,220 $42M $378.08 $12M -6,000 -5.1%
13 LLY 3.12% 51,926 $40M $779.53 $23M +31,300 +151.8%
14 ABR 3.10% 3,752,400 $40M $10.70 +3,752,400 NEW
15 AMZN 3.03% 179,015 $39M $219.39 $11M +28,900 +19.2%
16 TTWO 2.87% 153,172 $37M $242.85 $16M +51,200 +50.2%
17 CRM 2.78% 132,410 $36M $272.69 $3M +9,000 +7.3%
18 CRWD 2.72% 69,196 $35M $509.31 $13M +6,200 +9.8%
19 NFLX 2.67% 25,878 $35M $1,339.13 $13M +2,300 +9.8%
20 GDX 2.64% 658,389 $34M $52.06 $4M
21 NVDA 2.45% 201,415 $32M $157.99 $10M
22 Z 2.44% 451,750 $32M $70.05 $3M +38,600 +9.3%
23 NOW 2.04% 25,726 $26M $1,028.08 $8M +2,100 +8.9%
24 RH 1.58% 108,500 $21M $189.01 +108,500 NEW
25 CRDO 1.03% 144,496 $13M $92.59 $8M
26 WLDN 0.96% 198,321 $12M $62.51 $4M
27 BTBT 0.68% 4,000,000 $9M $2.19 +4,000,000 NEW
28 UBER 0.43% 59,464 $6M $93.30 $1M
29 PSIX 0.30% 60,505 $4M $64.68 $3M +16,900 +38.8%
30 TAC —% -$9M -960,092 -100.0% SOLD
31 KGS —% -$32M -865,257 -100.0% SOLD
32 TLN —% -$1M -5,633 -100.0% SOLD

Options Breakdown

4 Calls $314M Call Value 2 Puts $216M Put Value 0.69 P/C Ratio

Top Calls

SymbolSharesValueStatus
GLD 420,000 $128M
TSM 532,400 $121M
CORZ 3,830,000 $65M
RUN $0 SOLD

Top Puts

SymbolSharesValueStatus
QQQ 380,000 $210M NEW
ABR 600,700 $6M

New Positions

SymbolValue% Port
ABR $40M 3.10%
RH $21M 1.58%
BTBT $9M 0.68%

Sold Out Positions

SymbolValue% Port
KGS —%
TAC —%
TLN —%
View SEC EDGAR Filings for Valiant Capital Management, L.P. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms