Valiant Capital Management, L.P.

CIK

1452689

Location

San Francisco, CA

Portfolio Value

Mid $1,444,020,571

Diversification

Diversified

Filing Date

Global Rank

#1,433 / 8,605 ▼ 14 · as of Mar 2026

Top Industry

Software - Infrastructure 18.6%

3Y Alpha vs SPY

+19.4%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+169.2%

SPY

+76.5%

Annualised alpha

+18.3%

Max drawdown

−25.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

29 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

15.6%

−6.9 pts

Top 5

55.9%

−0.2 pts

Top 10

73.6%

+3.5 pts

HHI

798

Diversified−111

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	32.2%	$465,030,282	10
Unclassified	15.6%	$225,229,650	1
Consumer Cyclical	14.2%	$204,659,151	2
Industrials	11.7%	$168,869,664	6
Financial Services	9.1%	$131,247,752	4
Energy	8.4%	$121,522,643	2
Healthcare	4.6%	$67,027,074	2
Communication Services	4.2%	$60,434,355	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

7 positions

Ticker	Company	Δ Shares	Shares	Value
CORZ	Core Scientific, Inc./tx	+3,092,601	13,259,025	$198,355,014
AMZN	Amazon Com Inc	+625,000	780,404	$162,534,741
SEI	Solaris Energy Infrastructure, Inc.	+385,004	1,119,503	$63,263,114
PUMP	ProPetro Holding Corp.	+374,173	4,042,993	$58,259,529
RH	Rh	+118,511	301,276	$42,124,410
SPY	Spdr S&P 500 ETF Trust	+109,000	346,326	$225,229,650
PSIX	Power Solutions International, Inc.	+28,987	69,388	$4,224,341
No positions match the current search.

Trimmed

Positions the filer reduced

17 positions

Ticker	Company	Δ Shares	Shares	Value
HDB	Hdfc Bank Ltd	−95,800	1,026,232	$25,532,652
AGX	Argan Inc	−75,030	59,243	$32,266,699
GRDN	Guardian Pharmacy Services, Inc.	−45,805	1,186,658	$44,689,540
TSM	Taiwan Semiconductor Manufacturing Co Ltd	−38,900	409,300	$138,322,935
TKO	TKO Group Holdings, Inc.	−16,800	180,117	$36,320,593
NVDA	Nvidia Corp	−12,400	129,579	$22,598,577
AVGO	Broadcom Inc.	−12,200	126,602	$39,184,585
TTWO	Take Two Interactive Software Inc	−11,400	122,095	$24,113,762
WLDN	Willdan Group, Inc.	−9,200	143,331	$10,973,421
CRDO	Credo Technology Group Holding Ltd	−8,500	93,353	$8,763,046
CRM	Salesforce, Inc.	−8,000	85,336	$15,929,671
NOW	ServiceNow, Inc.	−7,800	82,866	$8,663,640
GEV	GE Vernova Inc.	−7,080	94,557	$82,538,805
MSFT	Microsoft Corp	−6,240	66,415	$24,584,840
PWR	Quanta Services, Inc.	−4,920	65,461	$35,939,398
CRWD	CrowdStrike Holdings, Inc.	−4,200	44,576	$4,350,729
LLY	ELI LILLY & Co	−2,240	24,286	$22,337,534
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
APO	Apollo Global Management, Inc.	430,000	$47,910,600
CG	Carlyle Group Inc.	800,000	$38,712,000
ARES	Ares Management Corp	175,000	$19,092,500
FPS	Forgent Power Solutions, Inc.	100,000	$2,927,000
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
QQQ	Invesco Qqq Trust, Series 1	560,000	$344,013,600
GLD	Spdr Gold Trust	106,100	$42,048,491
VST	Vistra Corp.	178,927	$28,866,292
NFLX	Netflix Inc	185,880	$17,428,108
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

29 positions · $1,444,020,571 total · as of Mar 31, 2026

All sectors Communication Services Consumer Cyclical Energy Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SPY	Spdr S&P 500 ETF Trust	Added	346,326	+109,000	$225,229,650	+39.2%	15.60%
CORZ	Core Scientific, Inc./tx Technology	Reduced	13,259,025	-10,027,701	$198,355,014	−41.5%	13.74%
AMZN	Amazon Com Inc Consumer Cyclical	Added	780,404	+625,000	$162,534,741	+353.1%	11.26%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Reduced	409,300	-38,900	$138,322,935	+1.6%	9.58%
GEV	GE Vernova Inc. Industrials	Reduced	94,557	-7,080	$82,538,805	+24.3%	5.72%
SEI	Solaris Energy Infrastructure, Inc. Energy	Added	1,119,503	+385,004	$63,263,114	+87.4%	4.38%
PUMP	ProPetro Holding Corp. Energy	Added	4,042,993	+374,173	$58,259,529	+67.0%	4.03%
APO	Apollo Global Management, Inc. Financial Services	NEW	430,000	NEW	$47,910,600	NEW	3.32%
GRDN	Guardian Pharmacy Services, Inc. Healthcare	Reduced	1,186,658	-45,805	$44,689,540	+20.5%	3.09%
RH	Rh Consumer Cyclical	Added	301,276	+118,511	$42,124,410	+28.7%	2.92%
AVGO	Broadcom Inc. Technology	Reduced	126,602	-12,200	$39,184,585	−18.4%	2.71%
CG	Carlyle Group Inc. Financial Services	NEW	800,000	NEW	$38,712,000	NEW	2.68%
TKO	TKO Group Holdings, Inc. Communication Services	Reduced	180,117	-16,800	$36,320,593	−11.7%	2.52%
PWR	Quanta Services, Inc. Industrials	Reduced	65,461	-4,920	$35,939,398	+21.0%	2.49%
AGX	Argan Inc Industrials	Reduced	59,243	-75,030	$32,266,699	−23.3%	2.23%
HDB	Hdfc Bank Ltd Financial Services	Reduced	1,026,232	-95,800	$25,532,652	−37.7%	1.77%
MSFT	Microsoft Corp Technology	Reduced	66,415	-6,240	$24,584,840	−30.0%	1.70%
TTWO	Take Two Interactive Software Inc Communication Services	Reduced	122,095	-11,400	$24,113,762	−29.4%	1.67%
NVDA	Nvidia Corp Technology	Reduced	129,579	-12,400	$22,598,577	−14.7%	1.56%
LLY	ELI LILLY & Co Healthcare	Reduced	24,286	-2,240	$22,337,534	−21.6%	1.55%
ARES	Ares Management Corp Financial Services	NEW	175,000	NEW	$19,092,500	NEW	1.32%
CRM	Salesforce, Inc. Technology	Reduced	85,336	-8,000	$15,929,671	−35.6%	1.10%
WLDN	Willdan Group, Inc. Industrials	Reduced	143,331	-9,200	$10,973,421	−30.6%	0.76%
CRDO	Credo Technology Group Holding Ltd Technology	Reduced	93,353	-8,500	$8,763,046	−40.2%	0.61%
NOW	ServiceNow, Inc. Technology	Reduced	82,866	-7,800	$8,663,640	−37.6%	0.60%
CRWD	CrowdStrike Holdings, Inc. Technology	Reduced	44,576	-4,200	$4,350,729	−23.9%	0.30%
UBER	Uber Technologies, Inc Technology	Held	59,464	0	$4,277,245	−12.0%	0.30%
PSIX	Power Solutions International, Inc. Industrials	Added	69,388	+28,987	$4,224,341	+83.0%	0.29%
FPS	Forgent Power Solutions, Inc. Industrials	NEW	100,000	NEW	$2,927,000	NEW	0.20%