# Valiant Capital Management, L.P.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1452689. Source: https://holderbook.com/funds/1452689-valiant-capital-management-l-p/

- Reported value: $2.5B
- Positions: 26
- Weight of the ten largest: 82.2%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $455.3M | 155,404 | 18.4% | 31 |
| CORE SCIENTIFIC INC NEW | [CORZ](https://holderbook.com/stocks/CORZ/) | $358.3M | 7,474,231 | 14.5% | 9 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $259.3M | 863,141 | 10.5% | 6 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $251.2M | 336,426 | 10.1% | 6 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $195.5M | 0 | 7.9% | 10 |
| RH | [RH](https://holderbook.com/stocks/RH/) | $140.2M | 301,276 | 5.7% | 5 |
| SOLARIS ENERGY INFRAS INC | [SEI](https://holderbook.com/stocks/SEI/) | $129.1M | 1,604,346 | 5.2% | 3 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $114.7M | 97,612 | 4.6% | 8 |
| TERAWULF INC | [WULF](https://holderbook.com/stocks/WULF/) | $71.5M | 2,896,756 | 2.9% | 1 |
| PROPETRO HLDG CORP | [PUMP](https://holderbook.com/stocks/PUMP/) | $60.8M | 4,242,475 | 2.5% | 3 |
| GUARDIAN PHARMACY SVCS INC | [GRDN](https://holderbook.com/stocks/GRDN/) | $49.7M | 1,186,658 | 2.0% | 4 |
| QUANTA SVCS INC | [PWR](https://holderbook.com/stocks/PWR/) | $49.2M | 68,275 | 2.0% | 8 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $47.8M | 126,602 | 1.9% | 10 |
| TKO GROUP HOLDINGS INC | [TKO](https://holderbook.com/stocks/TKO/) | $36.3M | 180,117 | 1.5% | 10 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $34.0M | 44,576 | 1.4% | 14 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $32.1M | 425,204 | 1.3% | 14 |
| TAKE-TWO INTERACTIVE SOFTWAR | [TTWO](https://holderbook.com/stocks/TTWO/) | $30.5M | 122,095 | 1.2% | 29 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $29.1M | 24,286 | 1.2% | 12 |
| HDFC BANK LTD | [HDB](https://holderbook.com/stocks/HDB/) | $26.5M | 1,026,232 | 1.1% | 8 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $25.9M | 129,579 | 1.0% | 13 |
| CREDO TECHNOLOGY GROUP HOLDI | [CRDO](https://holderbook.com/stocks/CRDO/) | $25.4M | 93,353 | 1.0% | 10 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $24.8M | 66,415 | 1.0% | 14 |
| ZILLOW GROUP INC | [Z](https://holderbook.com/stocks/Z/) | $14.9M | 473,329 | 0.6% | 31 |
| BABCOCK & WILCOX ENTERPRISES | [BW](https://holderbook.com/stocks/BW/) | $7.8M | 550,000 | 0.3% | 1 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $4.3M | 59,464 | 0.2% | 29 |
| POWER SOLUTIONS INTL INC | [PSIX](https://holderbook.com/stocks/PSIX/) | $3.2M | 81,674 | 0.1% | 7 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +23.5% | +14.8% | +8.7% | 85% |
| Q1 2026 | +0.7% | -4.6% | +5.4% | 96% |
| Q4 2025 | +0.3% | +2.4% | -2.0% | 94% |
| Q3 2025 | +8.3% | +7.8% | +0.5% | 95% |
| Q2 2025 | +31.8% | +10.5% | +21.3% | 98% |
| Q1 2025 | -10.2% | -4.6% | -5.7% | 100% |
| Q4 2024 | +10.7% | +2.1% | +8.6% | 100% |
| Q3 2024 | +8.6% | +5.4% | +3.2% | 86% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $2.5B | 26 |
| Q1 2026 | $1.7B | 32 |
| Q4 2025 | $1.8B | 32 |
| Q3 2025 | $1.5B | 31 |
| Q2 2025 | $1.8B | 32 |
| Q1 2025 | $1.4B | 34 |
| Q4 2024 | $1.6B | 33 |
| Q3 2024 | $1.8B | 31 |
| Q2 2024 | $1.9B | 31 |
| Q1 2024 | $1.6B | 30 |
| Q4 2023 | $2.0B | 24 |
| Q3 2023 | $1.0B | 27 |