# Karani Asset Management LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1792430. Source: https://holderbook.com/funds/1792430-karani-asset-management-llc/

- Reported value: $138.7M
- Positions: 57
- Weight of the ten largest: 53.7%
- 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 |
|---|---|---|---|---|---|
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $13.0M | 65,153 | 9.4% | 23 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $12.5M | 43,229 | 9.0% | 22 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $11.1M | 31,100 | 8.0% | 23 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $8.2M | 21,877 | 5.9% | 23 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $6.4M | 3,214 | 4.6% | 7 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $5.4M | 7,451 | 3.9% | 7 |
| CUMMINS INC | [CMI](https://holderbook.com/stocks/CMI/) | $4.8M | 6,747 | 3.5% | 7 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $4.5M | 8,839 | 3.3% | 7 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $4.5M | 7,755 | 3.2% | 2 |
| STEEL DYNAMICS INC | [STLD](https://holderbook.com/stocks/STLD/) | $4.1M | 17,764 | 2.9% | 8 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $4.1M | 12,023 | 2.9% | 10 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $4.0M | 9,330 | 2.9% | 6 |
| RLI CORP | [RLI](https://holderbook.com/stocks/RLI/) | $4.0M | 68,106 | 2.9% | 16 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $3.9M | 6,216 | 2.8% | 23 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $3.6M | 11,048 | 2.6% | 8 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $3.6M | 8,769 | 2.6% | 6 |
| OLD DOMINION FREIGHT LINE IN | [ODFL](https://holderbook.com/stocks/ODFL/) | $3.4M | 15,470 | 2.4% | 5 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $2.3M | 5,839 | 1.7% | 2 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $2.3M | 7,560 | 1.6% | 6 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $2.2M | 7,360 | 1.6% | 17 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $2.1M | 5,703 | 1.5% | 21 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $2.1M | 1,986 | 1.5% | 2 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $2.0M | 7,490 | 1.4% | 23 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $1.6M | 4,306 | 1.2% | 5 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $1.4M | 3,213 | 1.0% | 2 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $1.3M | 3,219 | 1.0% | 2 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $1.3M | 4,235 | 1.0% | 2 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $1.2M | 1,028 | 0.9% | 6 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $1.2M | 11,915 | 0.9% | 2 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.1M | 1,527 | 0.8% | 8 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $1.1M | 960 | 0.8% | 2 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $1.0M | 7,836 | 0.7% | 8 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $1.0M | 6,820 | 0.7% | 2 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $970.8K | 0 | 0.7% | 4 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $739.5K | 2,240 | 0.5% | 2 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $729.2K | 6,208 | 0.5% | 2 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $726.8K | 17,028 | 0.5% | 2 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $708.6K | 4,523 | 0.5% | 5 |
| DELTA AIR LINES INC | [DAL](https://holderbook.com/stocks/DAL/) | $677.4K | 7,233 | 0.5% | 2 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $603.7K | 2,888 | 0.4% | 1 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $577.4K | 2,643 | 0.4% | 1 |
| MARRIOTT INTL INC NEW | [MAR](https://holderbook.com/stocks/MAR/) | $538.1K | 1,452 | 0.4% | 1 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $537.1K | 2,115 | 0.4% | 2 |
| WW GRAINGER INC | [GWW](https://holderbook.com/stocks/GWW/) | $531.9K | 391 | 0.4% | 1 |
| HILTON WORLDWIDE HLDGS INC | [HLT](https://holderbook.com/stocks/HLT/) | $530.7K | 1,606 | 0.4% | 1 |
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $465.4K | 9,709 | 0.3% | 23 |
| ROPER TECHNOLOGIES INC | [ROP](https://holderbook.com/stocks/ROP/) | $439.9K | 1,300 | 0.3% | 5 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $420.6K | 987 | 0.3% | 1 |
| AUTODESK INC | [ADSK](https://holderbook.com/stocks/ADSK/) | $392.5K | 2,019 | 0.3% | 2 |
| BAKER HUGHES COMPANY | [BKR](https://holderbook.com/stocks/BKR/) | $384.4K | 6,926 | 0.3% | 2 |
| UNITED RENTALS INC | [URI](https://holderbook.com/stocks/URI/) | $369.3K | 326 | 0.3% | 1 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $353.8K | 1,259 | 0.3% | 1 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $344.9K | 3,762 | 0.2% | 2 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $338.4K | 7,280 | 0.2% | 2 |
| FACTSET RESH SYS INC | [FDS](https://holderbook.com/stocks/FDS/) | $284.6K | 1,237 | 0.2% | 2 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $265.7K | 1,296 | 0.2% | 2 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $225.7K | 1,266 | 0.2% | 1 |

## 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 | +21.3% | +14.8% | +6.4% | 100% |
| Q1 2026 | -2.6% | -4.6% | +2.0% | 100% |
| Q4 2025 | +5.5% | +2.4% | +3.1% | 100% |
| Q3 2025 | +6.5% | +7.8% | -1.3% | 100% |
| Q2 2025 | +9.0% | +10.5% | -1.5% | 100% |
| Q1 2025 | -7.2% | -4.6% | -2.7% | 100% |
| Q4 2023 | +13.4% | +11.2% | +2.3% | 100% |
| Q3 2023 | -0.1% | -3.6% | +3.5% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $138.7M | 57 |
| Q1 2026 | $122.1M | 54 |
| Q4 2025 | $122.1M | 36 |
| Q3 2025 | $125.2M | 37 |
| Q2 2025 | $103.2M | 39 |
| Q1 2025 | $94.5M | 41 |
| Q4 2024 | $107.2M | 28 |
| Q3 2023 | $69.4M | 35 |
| Q2 2023 | $99.1M | 32 |
| Q1 2023 | $94.4M | 36 |
| Q4 2022 | $85.8M | 37 |
| Q3 2022 | $98.6M | 41 |