V
Valiant Capital Management, L.P.
Q1 2026 · CIK 0001452689
Portfolio — Q1 2026
Reported Book
$1.7B
13F value · -2% QoQ
Positions
34
+1 vs Q4 2025
Top 10
67.2%
of reported book
In Dimetrics Coverage
40.9%
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
Long 73.0%
Calls 20.9%
Puts $105.7M· 3 lines
Long $1.3B· 28 lines
Calls $364.4M· 3 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
Power Shells
11.4%
$198.4M
Hyperscalers
10.7%
$187.1M
Lithography & Fab Tools
7.9%
$138.3M
AI Grid & Power Equipment
4.7%
$82.5M
Custom Silicon
3.5%
$61.8M
AI Construction & EPC
2.1%
$35.9M
AI Networking
0.5%
$8.8M
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 — 34 positions
| Ticker | Security | Line | Value | Weight | Group | Coverage |
|---|---|---|---|---|---|---|
| SPY | SPDR S&P 500 ETF TR | Long | $225.2M | 12.94% | — | Outside |
| IWM | ISHARES TR | Long | $225.1M | 12.93% | — | Outside |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | Call | $138.3M | 7.95% | Lithography & Fab Tools | Covered |
| AMZN | AMAZON COM INC | Call | $130.2M | 7.48% | Hyperscalers | Covered |
| CORZ | CORE SCIENTIFIC INC NEW | Long | $102.5M | 5.89% | Power Shells | Covered |
| CORZ | CORE SCIENTIFIC INC NEW | Call | $95.9M | 5.51% | Power Shells | Covered |
| GEV | GE VERNOVA INC | Long | $82.5M | 4.74% | AI Grid & Power Equipment | Covered |
| SEI | SOLARIS ENERGY INFRAS INC | Long | $63.3M | 3.63% | — | Outside |
| PUMP | PROPETRO HLDG CORP | Long | $58.3M | 3.35% | — | Outside |
| APO | APOLLO GLOBAL MGMT INC | Put | $47.9M | 2.75% | — | Outside |
| GRDN | GUARDIAN PHARMACY SVCS INC | Long | $44.7M | 2.57% | — | Outside |
| RH | RH | Long | $42.1M | 2.42% | — | Outside |
| AVGO | BROADCOM INC | Long | $39.2M | 2.25% | Custom Silicon | Covered |
| GDX | VANECK ETF TRUST | Long | $39.0M | 2.24% | — | Outside |
| CG | CARLYLE GROUP INC | Put | $38.7M | 2.22% | — | Outside |
| TKO | TKO GROUP HOLDINGS INC | Long | $36.3M | 2.09% | — | Outside |
| PWR | QUANTA SVCS INC | Long | $35.9M | 2.06% | AI Construction & EPC | Covered |
| AMZN | AMAZON COM INC | Long | $32.4M | 1.86% | Hyperscalers | Covered |
| AGX | ARGAN INC | Long | $32.3M | 1.85% | — | Outside |
| HDB | HDFC BANK LTD | Long | $25.5M | 1.47% | — | Outside |
| MSFT | MICROSOFT CORP | Long | $24.6M | 1.41% | Hyperscalers | Covered |
| TTWO | TAKE-TWO INTERACTIVE SOFTWAR | Long | $24.1M | 1.39% | — | Outside |
| NVDA | NVIDIA CORPORATION | Long | $22.6M | 1.30% | Custom Silicon | Covered |
| LLY | ELI LILLY & CO | Long | $22.3M | 1.28% | — | Outside |
| Z | ZILLOW GROUP INC | Long | $19.6M | 1.13% | — | Outside |
| ARES | ARES MANAGEMENT CORPORATION | Put | $19.1M | 1.10% | — | Outside |
| CRWD | CROWDSTRIKE HLDGS INC | Long | $17.4M | 1.00% | — | Outside |
| CRM | SALESFORCE INC | Long | $15.9M | 0.92% | — | Outside |
| WLDN | WILLDAN GROUP INC | Long | $11.0M | 0.63% | — | Outside |
| CRDO | CREDO TECHNOLOGY GROUP HOLDI | Long | $8.8M | 0.50% | AI Networking | Covered |
| NOW | SERVICENOW INC | Long | $8.7M | 0.50% | — | Outside |
| UBER | UBER TECHNOLOGIES INC | Long | $4.3M | 0.25% | — | Outside |
| PSIX | POWER SOLUTIONS INTL INC | Long | $4.2M | 0.24% | — | Outside |
| FPS | FORGENT POWER SOLUTIONS INC | Long | $2.9M | 0.17% | — | 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.