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QVR LLC

505 MONTGOMERY STREET SUITE 1102, SAN FRANCISCO, CA 94111 • 510-684-8343

Q4 2025 · Filed 2026-01-28
Market Value
$143M
+73.3%
Holdings
74
+12
New Purchases
30
Added To
16
Closed
19
Reduced
9
Top 10 Concentration
74.2%
Turnover
66.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
META 9.83% 0.00% +9.83% $14M
TSLA 15.96% 8.89% +7.08% $23M
AMD 7.97% 2.30% +5.67% $11M
AMZN 5.53% 0.00% +5.53% $8M
LLY 5.39% 0.64% +4.75% $8M
GOOG 10.01% 6.23% +3.77% $14M
V 1.93% 0.00% +1.93% $3M
MU 2.33% 0.56% +1.76% $3M
GE 1.18% 0.00% +1.18% $2M
CRM 1.13% 0.00% +1.13% $2M
MRK 1.74% 0.63% +1.11% $2M
PM 0.92% 0.00% +0.92% $1M
LRCX 0.86% 0.00% +0.86% $1M
BA 0.79% 0.00% +0.79% $1M
LIN 0.72% 0.00% +0.72% $1M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AAPL 0.00% 21.07% -21.07% $0
NVDA 6.74% 15.90% -9.16% $10M
PLTR 1.52% 5.00% -3.48% $2M
ABBV 0.61% 3.40% -2.79% $869K
QQQ 0.00% 2.47% -2.47% $0
JNJ 1.48% 3.66% -2.18% $2M
AVGO 0.00% 1.59% -1.59% $0
HD 0.00% 1.54% -1.54% $0
BRK-B 0.38% 1.79% -1.42% $540K
MSFT 0.00% 1.40% -1.40% $0
WMT 0.01% 1.19% -1.18% $10K
GOOGL 8.46% 9.33% -0.86% $12M
CAT 0.00% 0.81% -0.81% $0
ANET 0.00% 0.77% -0.77% $0
IBIT 0.00% 0.70% -0.70% $0

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Consumer Cyclical 35.9%
Communication Services 35.7%
Technology 14.4%
Energy 8.0%
Healthcare 2.9%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 42 $129M 90.5%
Large Cap 30 $11M 7.7%
Small Cap 1 $1M 0.9%
Micro Cap 1 $1M 1.0%

Portfolio Analytics

Avg Market Cap
$666.1B
Median Market Cap
$239.0B
Avg P/E
40.5
Median P/E
28.7
Avg Dividend Yield
0.01%
Avg Beta
1.00
# Stocks
69
# ETFs / Funds
5

Top Holdings (74 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TSLA 15.96% 50,794 $23M $449.72 $16M +34,291 +207.8%
2 GOOG 10.01% 45,635 $14M $313.80 $9M +24,492 +115.8%
3 META 9.83% 21,318 $14M $660.09 +21,318 NEW
4 GOOGL 8.46% 38,688 $12M $313.00 $4M +7,002 +22.1%
5 AMD 7.97% 53,273 $11M $214.16 $10M +41,522 +353.4%
6 NVDA 6.74% 51,710 $10M $186.50 -$3M -18,675 -26.5%
7 AMZN 5.53% 34,261 $8M $230.82 +34,261 NEW
8 LLY 5.39% 7,177 $8M $1,074.68 $7M +6,487 +940.1%
9 MU 2.33% 11,664 $3M $285.41 $3M +8,875 +318.2%
10 V 1.93% 7,887 $3M $350.71 +7,887 NEW
11 MRK 1.74% 23,647 $2M $105.26 $2M +17,496 +284.4%
12 PLTR 1.52% 12,247 $2M $177.75 -$2M -10,410 -46.0%
13 JNJ 1.48% 10,204 $2M $206.95 -$911K -6,096 -37.4%
14 JPM 1.23% 5,446 $2M $322.22 $550K +1,628 +42.6%
15 GE 1.18% 5,466 $2M $308.03 +5,466 NEW
16 CRM 1.13% 6,109 $2M $264.91 +6,109 NEW
17 RTX 1.00% 7,812 $1M $183.40 $1M +6,081 +351.3%
18 SVXY 0.97% 25,001 $1M $55.38 $213K +2,000 +8.7%
19 PM 0.92% 8,192 $1M $160.40 +8,192 NEW
20 WFC 0.91% 13,982 $1M $93.20 $875K +8,879 +174.0%
21 BTAL 0.86% 86,018 $1M $14.39 $1M +73,386 +581.0%
22 LRCX 0.86% 7,217 $1M $171.18 +7,217 NEW
23 XOM 0.85% 10,156 $1M $120.34 $1M +8,869 +689.1%
24 BA 0.79% 5,219 $1M $217.12 +5,219 NEW
25 LIN 0.72% 2,421 $1M $426.39 +2,421 NEW
26 GLD 0.72% 2,591 $1M $396.31 $897K +2,225 +607.9%
27 MA 0.61% 1,531 $874K $570.88 +1,531 NEW
28 ABBV 0.61% 3,805 $869K $228.49 -$2M -8,325 -68.6%
29 DIS 0.61% 7,625 $867K $113.77 +7,625 NEW
30 SCHW 0.59% 8,382 $837K $99.91 +8,382 NEW
31 BMY 0.55% 14,520 $783K $53.94 +14,520 NEW
32 C 0.50% 6,185 $722K $116.69 +6,185 NEW
33 MS 0.48% 3,845 $683K $177.53 $55K -105 -2.7%
34 COF 0.46% 2,695 $653K $242.36 +2,695 NEW
35 CB 0.41% 1,888 $589K $312.12 +1,888 NEW
36 BRK-B 0.38% 1,075 $540K $502.65 -$942K -1,873 -63.5%
37 TMO 0.34% 848 $491K $579.45 $277K +407 +92.3%
38 GS 0.30% 492 $432K $879.00 $84K +55 +12.6%
39 CVX 0.30% 2,837 $432K $152.41 +2,837 NEW
40 BAC 0.30% 7,745 $426K $55.00 -$206K -4,510 -36.8%
41 AMAT 0.27% 1,479 $380K $256.99 +1,479 NEW
42 ICE 0.26% 2,328 $377K $161.96 +2,328 NEW
43 ADI 0.26% 1,384 $375K $271.20 +1,384 NEW
44 SPGI 0.25% 674 $352K $522.59 +674 NEW
45 ISRG 0.22% 563 $319K $566.36 +563 NEW
46 ADBE 0.19% 784 $274K $349.99 +784 NEW
47 COP 0.18% 2,813 $263K $93.61 +2,813 NEW
48 GILD 0.18% 2,070 $254K $122.74 +2,070 NEW
49 LMT 0.16% 479 $232K $483.67 +479 NEW
50 DHR 0.15% 926 $212K $228.92 +926 NEW
51 KLAC 0.15% 171 $208K $1,215.08 +171 NEW
52 SLB 0.11% 4,000 $154K $38.38 +4,000 NEW
53 VRTX 0.08% 253 $115K $453.36 +253 NEW
54 TJX 0.08% 708 $109K $153.61 -$294K -2,081 -74.6%
55 WMT 0.01% 89 $10K $111.40 -$973K -9,448 -99.1%
56 INTC —% -$415K -12,355 -100.0% SOLD
57 ANET —% -$639K -4,387 -100.0% SOLD
58 PLD —% -$221K -1,934 -100.0% SOLD
59 MSFT —% -$1M -2,228 -100.0% SOLD
60 IBM —% -$144K -509 -100.0% SOLD
61 AAPL —% -$17M -68,350 -100.0% SOLD
62 AVGO —% -$1M -3,971 -100.0% SOLD
63 HD —% -$1M -3,149 -100.0% SOLD
64 MDT —% -$160K -1,681 -100.0% SOLD
65 QQQ —% -$2M -3,402 -100.0% SOLD
66 LOW —% -$151K -599 -100.0% SOLD
67 PFE —% -$316K -12,383 -100.0% SOLD
68 IBIT —% -$574K -8,838 -100.0% SOLD
69 GEV —% -$181K -295 -100.0% SOLD
70 PEP —% -$183K -1,304 -100.0% SOLD
71 WELL —% -$290K -1,628 -100.0% SOLD
72 BX —% -$124K -725 -100.0% SOLD
73 CAT —% -$668K -1,400 -100.0% SOLD
74 APH —% -$384K -3,100 -100.0% SOLD

Options Breakdown

37 Calls $61M Call Value 73 Puts $1.8B Put Value 29.16 P/C Ratio

Top Calls

SymbolSharesValueStatus
NVDA 162,600 $30M
GLD 53,000 $21M
AVGO 9,300 $3M
MSFT 4,000 $2M
AMZN 4,000 $923K NEW
NFLX 9,400 $881K NEW
META 700 $462K
ETN 1,200 $382K NEW
AAPL 1,400 $381K
WELL 1,900 $353K NEW

Top Puts

SymbolSharesValueStatus
TSLA 855,400 $385M
NVDA 1,825,700 $340M
GOOG 681,200 $214M
AMD 986,900 $200M
PLTR 980,200 $174M
AMZN 668,800 $154M
META 208,100 $137M
GOOGL 323,800 $101M
GLD 82,000 $32M NEW
SPY 23,000 $16M

New Positions

SymbolValue% Port
META $14M 9.83%
AMZN $8M 5.53%
V $3M 1.93%
GE $2M 1.18%
CRM $2M 1.13%
PM $1M 0.92%
LRCX $1M 0.86%
BA $1M 0.79%
LIN $1M 0.72%
MA $874K 0.61%
DIS $867K 0.61%
SCHW $837K 0.59%
BMY $783K 0.55%
C $722K 0.50%
COF $653K 0.46%

Sold Out Positions

SymbolValue% Port
MDT —%
HD —%
LOW —%
PFE —%
IBM —%
GEV —%
CAT —%
BX —%
PLD —%
ANET —%
APH —%
AAPL —%
INTC —%
PEP —%
IBIT —%
View SEC EDGAR Filings for QVR LLC →

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