# Franchise GP Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2083646. Source: https://holderbook.com/funds/2083646-franchise-gp-ltd/

- Reported value: $215.2M
- Positions: 39
- Weight of the ten largest: 83.7%
- Filed: 2026-07-22

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 |
|---|---|---|---|---|---|
| PDD HOLDINGS INC | [PDD](https://holderbook.com/stocks/PDD/) | $38.0M | 497,860 | 17.6% | 3 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $21.7M | 37,370 | 10.1% | 2 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $21.0M | 44,040 | 9.8% | 3 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $19.7M | 98,619 | 9.2% | 3 |
| YUANBAO INC | [YB](https://holderbook.com/stocks/YB/) | $18.5M | 1,214,593 | 8.6% | 3 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $17.1M | 7,520 | 7.9% | 2 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $15.4M | 13,380 | 7.2% | 2 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $13.2M | 34,980 | 6.1% | 2 |
| ISHARES BITCOIN TRUST ETF | [IBIT](https://holderbook.com/stocks/IBIT/) | $8.3M | 249,996 | 3.9% | 3 |
| NEBIUS GROUP N.V. | [NBIS](https://holderbook.com/stocks/NBIS/) | $7.0M | 25,487 | 3.3% | 1 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $6.8M | 10,710 | 3.2% | 1 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $6.4M | 14,660 | 3.0% | 1 |
| SEAGATE TECHNOLOGY HLDNGS PL | [STX](https://holderbook.com/stocks/STX/) | $4.9M | 5,030 | 2.3% | 1 |
| LUMENTUM HLDGS INC | [LITE](https://holderbook.com/stocks/LITE/) | $3.9M | 4,600 | 1.8% | 2 |
| TERADYNE INC | [TER](https://holderbook.com/stocks/TER/) | $2.4M | 5,000 | 1.1% | 2 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $2.1M | 4,950 | 1.0% | 1 |
| LATTICE SEMICONDUCTOR CORP | [LSCC](https://holderbook.com/stocks/LSCC/) | $2.0M | 13,200 | 0.9% | 1 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $1.8M | 4,600 | 0.8% | 1 |
| SNOWFLAKE INC | [SNOW](https://holderbook.com/stocks/SNOW/) | $796.6K | 3,130 | 0.4% | 1 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $614.5K | 850 | 0.3% | 1 |
| ARM HOLDINGS PLC | [ARM](https://holderbook.com/stocks/ARM/) | $443.2K | 1,250 | 0.2% | 1 |
| VENTAS INC | [VTR](https://holderbook.com/stocks/VTR/) | $322.4K | 3,631 | 0.1% | 3 |
| PULTE GROUP INC | [PHM](https://holderbook.com/stocks/PHM/) | $268.9K | 1,960 | 0.1% | 3 |
| AMERICAN HEALTHCARE REIT INC | [AHR](https://holderbook.com/stocks/AHR/) | $252.3K | 4,838 | 0.1% | 3 |
| CARETRUST REIT INC | [CTRE](https://holderbook.com/stocks/CTRE/) | $231.5K | 5,738 | 0.1% | 1 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $224.2K | 988 | 0.1% | 3 |
| ISHARES ETHEREUM TR | [ETHA](https://holderbook.com/stocks/ETHA/) | $199.2K | 16,750 | 0.1% | 3 |
| D R HORTON INC | [DHI](https://holderbook.com/stocks/DHI/) | $175.4K | 1,077 | 0.1% | 3 |
| NOKIA CORP | [NOK](https://holderbook.com/stocks/NOK/) | $175.2K | 13,190 | 0.1% | 1 |
| DIGITAL RLTY TR INC | [DLR](https://holderbook.com/stocks/DLR/) | $168.4K | 938 | 0.1% | 3 |
| GDS HLDGS LTD | [GDS](https://holderbook.com/stocks/GDS/) | $139.3K | 4,640 | 0.1% | 1 |
| AMERICOLD REALTY TRUST INC | [COLD](https://holderbook.com/stocks/COLD/) | $137.2K | 8,730 | 0.1% | 3 |
| HOST HOTELS & RESORTS INC | [HST](https://holderbook.com/stocks/HST/) | $127.9K | 5,395 | 0.1% | 3 |
| BITMINE IMMERSION TECHS INC | [BMNR](https://holderbook.com/stocks/BMNR/) | $122.5K | 9,200 | 0.1% | 3 |
| IRON MTN INC DEL | [IRM](https://holderbook.com/stocks/IRM/) | $102.9K | 815 | 0.0% | 3 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $83.4K | 80 | 0.0% | 3 |
| VICI PPTYS INC | [VICI](https://holderbook.com/stocks/VICI/) | $61.0K | 2,296 | 0.0% | 3 |
| KE HLDGS INC | [BEKE](https://holderbook.com/stocks/BEKE/) | $58.1K | 4,000 | 0.0% | 3 |
| CIRCLE INTERNET GROUP INC | [CRCL](https://holderbook.com/stocks/CRCL/) | $54.5K | 870 | 0.0% | 3 |

## 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 | +5.8% | +14.8% | -9.0% | 100% |
| Q1 2026 | -5.7% | -4.6% | -1.1% | 97% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $215.2M | 39 |
| Q1 2026 | $271.9M | 36 |
| Q4 2025 | $88.8M | 24 |