V
Valiant Capital Management, L.P.
Q3 2024 · CIK 0001452689
Portfolio — Q3 2024
Reported Book
$1.8B
13F value · -3% QoQ
Positions
31
-2 vs Q2 2024
Top 10
72.9%
of reported book
In Dimetrics Coverage
21.5%
of reported book
Reported book is the value of 13F-reportable US positions as filed — not the manager's total assets under management, which include cash, debt, non-US and private holdings.
Book structure
Puts 26.5%
Long 40.4%
Calls 33.1%
Puts $479.7M· 4 lines
Long $731.7M· 23 lines
Calls $599.2M· 4 lines
Reported book structure — not net exposure. 13F reports options at the notional value of the underlying, with no strike, expiry, or premium. Delta is unknowable. This describes what was filed.
Reported book by group
PutsLongCallsNotes
Lithography & Fab Tools
5.8%
$104.4M
Hyperscalers
4.2%
$75.2M
Custom Silicon
3.4%
$61.4M
AI Merchant Power
3.3%
$60.2M
Power Shells
2.4%
$43.9M
AI Grid & Power Equipment
1.3%
$23.4M
AI Networking
0.6%
$11.4M
AI Construction & EPC
0.5%
$8.6M
Filed value by group, split by line type. Option lines are shown at the notional value of the underlying — a put bar is not exposure to that group, it is a position filed against it.
Holdings — 31 positions
| Ticker | Security | Line | Value | Weight | Group | Coverage |
|---|---|---|---|---|---|---|
| TLT | ISHARES TR | Call | $245.3M | 13.55% | — | Outside |
| QQQ | INVESCO QQQ TR | Put | $201.0M | 11.10% | — | Outside |
| CART | MAPLEBEAR INC | Long | $185.4M | 10.24% | — | Outside |
| INDA | ISHARES TR | Put | $153.6M | 8.49% | — | Outside |
| IWM | ISHARES TR | Call | $148.0M | 8.17% | — | Outside |
| TSM | TAIWAN SEMICONDUCTOR MFG LTD | Call | $104.4M | 5.76% | Lithography & Fab Tools | Covered |
| GLD | SPDR GOLD TR | Call | $101.6M | 5.61% | — | Outside |
| LRN | STRIDE INC | Put | $93.2M | 5.15% | — | Outside |
| CORZ | CORE SCIENTIFIC INC NEW | Long | $43.9M | 2.43% | Power Shells | Covered |
| MSFT | MICROSOFT CORP | Long | $43.1M | 2.38% | Hyperscalers | Covered |
| TKO | TKO GROUP HOLDINGS INC | Long | $34.5M | 1.90% | — | Outside |
| AVGO | BROADCOM INC | Long | $34.1M | 1.89% | Custom Silicon | Covered |
| CEG | CONSTELLATION ENERGY CORP | Long | $32.9M | 1.82% | AI Merchant Power | Covered |
| HDB | HDFC BANK LTD | Long | $32.5M | 1.80% | — | Outside |
| AMZN | AMAZON COM INC | Long | $32.1M | 1.77% | Hyperscalers | Covered |
| ABR | ARBOR REALTY TRUST INC | Put | $31.8M | 1.76% | — | Outside |
| VST | VISTRA CORP | Long | $27.3M | 1.51% | AI Merchant Power | Covered |
| NVDA | NVIDIA CORPORATION | Long | $27.3M | 1.51% | Custom Silicon | Covered |
| Z | ZILLOW GROUP INC | Long | $26.4M | 1.46% | — | Outside |
| GDX | VANECK ETF TRUST | Long | $26.2M | 1.45% | — | Outside |
| LLY | ELI LILLY & CO | Long | $26.2M | 1.44% | — | Outside |
| CRM | SALESFORCE INC | Long | $23.7M | 1.31% | — | Outside |
| GEV | GE VERNOVA INC | Long | $23.4M | 1.29% | AI Grid & Power Equipment | Covered |
| NOW | SERVICENOW INC | Long | $23.1M | 1.28% | — | Outside |
| NFLX | NETFLIX INC | Long | $20.7M | 1.14% | — | Outside |
| CRWD | CROWDSTRIKE HLDGS INC | Long | $19.6M | 1.08% | — | Outside |
| TTWO | TAKE-TWO INTERACTIVE SOFTWAR | Long | $15.7M | 0.87% | — | Outside |
| CRDO | CREDO TECHNOLOGY GROUP HOLDI | Long | $11.4M | 0.63% | AI Networking | Covered |
| AGX | ARGAN INC | Long | $9.1M | 0.50% | — | Outside |
| PWR | QUANTA SVCS INC | Long | $8.6M | 0.48% | AI Construction & EPC | Covered |
| UBER | UBER TECHNOLOGIES INC | Long | $4.5M | 0.25% | — | Outside |
Shares and value as filed. Positions held with shared investment discretion are reported in full by each manager, so a filer's book can overlap another's.