Valiant Capital Management, L.P.

Portfolio Overview

Valiant Capital Management, L.P. disclosed 34 positions worth $1.7B in its Form 13F-HR for Q1 2026 — $1.3B in common stock plus $470.1M of put/call option positions (reported at underlying notional value, not premium at risk), led by $SPY (SPDR S&P 500 ETF TRUST) at 17.7% of the equity portfolio. During the quarter the fund opened 5 new positions and exited 4 — including a new stake in $AMZN and a full exit from $QQQ. The portfolio is most concentrated in Other (38.5% of disclosed assets). All figures are sourced directly from Valiant Capital Management, L.P.’s Form 13F-HR filing with the SEC under CIK 1452689.

• 

  SPDR S&P 500 ETF TRUST

  $SPY

  —

  Quality

  $225.2M346,326 sh

• ISHARES TR

  —

  Quality

  $225.1M907,801 sh
• 

  TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD

  $TSM CALL

  —

  Quality

  $138.3M409,300 sh
• 

  AMAZON COM INC

  $AMZN CALL

  74.6

  Quality

  $130.2M625,000 sh
• 

  Core Scientific, Inc./tx

  $CORZ

  14.0

  Quality

  $102.5M6,851,325 sh
• 

  Core Scientific, Inc./tx

  $CORZ CALL

  14.0

  Quality

  $95.9M6,407,700 sh
• 

  GE Vernova Inc.

  $GEV

  70.1

  Quality

  $82.5M94,557 sh
• 

  Solaris Energy Infrastructure, Inc.

  $SEI

  56.9

  Quality

  $63.3M1,119,503 sh
• 

  ProPetro Holding Corp.

  $PUMP

  39.3

  Quality

  $58.3M4,042,993 sh
• 

  Apollo Global Management, Inc.

  $APO PUT

  55.7

  Quality

  $47.9M430,000 sh

Company	Quality	Value	Shares
SPDR S&P 500 ETF TRUST$SPY	—	$225.2M	346,326
ISHARES TR	—	$225.1M	907,801
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD$TSMCALL	—	$138.3M	409,300
AMAZON COM INC$AMZNCALL	74.6	$130.2M	625,000
Core Scientific, Inc./tx$CORZ	14.0	$102.5M	6,851,325
Core Scientific, Inc./tx$CORZCALL	14.0	$95.9M	6,407,700
GE Vernova Inc.$GEV	70.1	$82.5M	94,557
Solaris Energy Infrastructure, Inc.$SEI	56.9	$63.3M	1,119,503
ProPetro Holding Corp.$PUMP	39.3	$58.3M	4,042,993
Apollo Global Management, Inc.$APOPUT	55.7	$47.9M	430,000

Showing top 10 of 34 holdings.

Full Holdings — Valiant Capital Management, L.P. (Q1 2026)

All 34 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$SPY	SPDR S&P 500 ETF TRUST	$225.2M	17.7%	+46%	—
2	—	ISHARES TR	$225.1M	17.7%	+38%	—
3	$TSMCALL	TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$138.3M	—	-9%	—
4	$AMZNCALL	AMAZON COM INC	$130.2M	—	NEW	74.6
5	$CORZ	Core Scientific, Inc./tx	$102.5M	8.1%	+8%	14
6	$CORZCALL	Core Scientific, Inc./tx	$95.9M	—	+67%	14
7	$GEV	GE Vernova Inc.	$82.5M	6.5%	-7%	70.1
8	$SEI	Solaris Energy Infrastructure, Inc.	$63.3M	5.0%	+52%	56.9
9	$PUMP	ProPetro Holding Corp.	$58.3M	4.6%	+10%	39.3
10	$APOPUT	Apollo Global Management, Inc.	$47.9M	—	NEW	55.7
11	$GRDN	Guardian Pharmacy Services, Inc.	$44.7M	3.5%	-4%	47.3
12	$RH	RH	$42.1M	3.3%	+65%	53.2
13	$AVGO	Broadcom Inc.	$39.2M	3.1%	-9%	86.4
14	—	VANECK ETF TRUST	$39.0M	3.1%	-8%	—
15	$CGPUT	Carlyle Group Inc.	$38.7M	—	NEW	47.3
16	$TKO	TKO Group Holdings, Inc.	$36.3M	2.9%	-9%	73.1
17	$PWR	QUANTA SERVICES, INC.	$35.9M	2.8%	-7%	62.6
18	$AMZN	AMAZON COM INC	$32.4M	2.5%	+0%	74.6
19	$AGX	ARGAN INC	$32.3M	2.5%	-56%	79.2
20	$HDB	HDFC BANK LTD	$25.5M	2.0%	-9%	—
21	$MSFT	MICROSOFT CORP	$24.6M	1.9%	-9%	83.7
22	$TTWO	TAKE TWO INTERACTIVE SOFTWARE INC	$24.1M	1.9%	-9%	47.2
23	$NVDA	NVIDIA CORP	$22.6M	1.8%	-9%	90.2
24	$LLY	ELI LILLY & Co	$22.3M	1.8%	-8%	89.3
25	$Z	ZILLOW GROUP, INC.	$19.6M	1.5%	+49%	57.3
26	$ARESPUT	Ares Management Corp	$19.1M	—	NEW	70.8
27	$CRWD	CrowdStrike Holdings, Inc.	$17.4M	1.4%	-9%	55
28	$CRM	Salesforce, Inc.	$15.9M	1.3%	-9%	75.2
29	$WLDN	Willdan Group, Inc.	$11.0M	0.9%	-6%	61.5
30	$CRDO	Credo Technology Group Holding Ltd	$8.8M	0.7%	-8%	—
31	$NOW	ServiceNow, Inc.	$8.7M	0.7%	-9%	76
32	$UBER	Uber Technologies, Inc	$4.3M	0.3%	+0%	79.3
33	$PSIX	POWER SOLUTIONS INTERNATIONAL, INC.	$4.2M	0.3%	+72%	75
34	$FPS	Forgent Power Solutions, Inc.	$2.9M	0.2%	NEW	—