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Valiant Capital Management, L.P.

Q4 2025 · Filed 2026-02-17
Market Value
$1.2B
+10.1%
Holdings
30
-1
New Purchases
2
Added To
8
Closed
1
Reduced
18
Top 10 Concentration
61.5%
Turnover
10.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IWM 13.60% 9.47% +4.13% $162M
SPY 13.60% 9.53% +4.07% $162M
PUMP 2.93% 0.00% +2.93% $35M
SEI 2.84% 0.00% +2.84% $34M
RH 2.75% 2.04% +0.71% $33M
GRDN 3.12% 2.59% +0.53% $37M
HDB 3.45% 3.36% +0.09% $41M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CORZ 7.75% 10.77% -3.01% $92M
AGX 3.54% 6.36% -2.83% $42M
VST 2.43% 3.54% -1.11% $29M
NFLX 1.46% 2.15% -0.68% $17M
MSFT 2.95% 3.63% -0.67% $35M
Z 1.83% 2.50% -0.67% $22M
TTWO 2.87% 3.51% -0.64% $34M
GEV 5.58% 6.22% -0.63% $66M
AVGO 4.04% 4.66% -0.62% $48M
TKO 3.46% 4.04% -0.59% $41M
NOW 1.17% 1.70% -0.53% $14M
CRWD 1.92% 2.43% -0.51% $23M
LLY 2.40% 2.84% -0.44% $29M
PWR 2.50% 2.83% -0.33% $30M
NVDA 2.23% 2.55% -0.33% $26M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 8 $420M 35.3%
Large Cap 12 $458M 38.4%
Mid Cap 8 $295M 24.8%
Small Cap 2 $18M 1.5%

Portfolio Analytics

Avg Market Cap
$556.8B
Median Market Cap
$65.2B
Avg P/E
48.8
Median P/E
32.1
Avg Dividend Yield
0.00%
Avg Beta
1.30
# Stocks
27
# ETFs / Funds
3

Top Holdings (30 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 SPY 13.60% 237,326 $162M $681.92 $59M +82,824 +53.6%
2 IWM 13.60% 657,301 $162M $246.16 $59M +234,444 +55.4%
3 CORZ 7.75% 6,336,424 $92M $14.56 -$24M -146,679 -2.3%
4 GEV 5.58% 101,637 $66M $653.57 -$731K -7,580 -6.9%
5 AVGO 4.04% 138,802 $48M $346.10 -$2M -13,702 -9.0%
6 AGX 3.54% 134,273 $42M $313.32 -$27M -120,327 -47.3%
7 TKO 3.46% 196,917 $41M $209.00 -$3M -19,438 -9.0%
8 HDB 3.45% 1,122,032 $41M $36.54 $5M +60,636 +5.7%
9 GDX 3.35% 464,104 $40M $85.77 $849K -45,812 -9.0%
10 GRDN 3.12% 1,232,463 $37M $30.09 $9M +167,741 +15.8%
11 AMZN 3.01% 155,404 $36M $230.82 $363K -6,311 -3.9%
12 MSFT 2.95% 72,655 $35M $483.62 -$4M -2,951 -3.9%
13 PUMP 2.93% 3,668,820 $35M $9.51 +3,668,820 NEW
14 TTWO 2.87% 133,495 $34M $256.03 -$4M -13,177 -9.0%
15 SEI 2.84% 734,499 $34M $45.97 +734,499 NEW
16 RH 2.75% 182,765 $33M $179.15 $11M +74,265 +68.5%
17 PWR 2.50% 70,381 $30M $422.06 -$843K -3,332 -4.5%
18 VST 2.43% 178,927 $29M $161.33 -$9M -16,016 -8.2%
19 LLY 2.40% 26,526 $29M $1,074.68 -$2M -13,691 -34.0%
20 NVDA 2.23% 141,979 $26M $186.50 -$1M -5,814 -3.9%
21 CRM 2.08% 93,336 $25M $264.91 $421K -9,214 -9.0%
22 CRWD 1.92% 48,776 $23M $468.76 -$3M -4,815 -9.0%
23 Z 1.83% 318,443 $22M $68.22 -$5M -31,434 -9.0%
24 NFLX 1.46% 185,880 $17M $93.76 -$6M +166,537 +861.0%
25 WLDN 1.33% 152,531 $16M $103.66 $317K -7,712 -4.8%
26 CRDO 1.23% 101,853 $15M $143.89 -$2M -10,056 -9.0%
27 NOW 1.17% 90,666 $14M $153.19 -$4M +70,742 +355.1%
28 UBER 0.41% 59,464 $5M $81.71 -$967K
29 PSIX 0.19% 40,401 $2M $57.14 -$2M +1,475 +3.8%
30 FLY —% -$4M -120,000 -100.0% SOLD

Options Breakdown

4 Calls $234M Call Value 1 Puts $344M Put Value 1.47 P/C Ratio

Top Calls

SymbolSharesValueStatus
TSM 448,200 $136M
CORZ 3,830,000 $56M
GLD 106,100 $42M
CRWV $0 SOLD

Top Puts

SymbolSharesValueStatus
QQQ 560,000 $344M NEW

New Positions

SymbolValue% Port
PUMP $35M 2.93%
SEI $34M 2.84%

Sold Out Positions

SymbolValue% Port
FLY —%
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