Valiant Capital Management, L.P. Hedge Fund

Location: San Francisco, CA

CIK: 0001452689 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 14, 2025

Total Value: $1.453B (100.0% shares, 0.0% debt)

Holdings (32)

TSM TAIWAN SEMICONDUCTOR MFG LTD 9.5%

Value $138M Shares 492,400 Share Price $279.29 Est. Cost/Share — Unrealized @ Report Date —

CORZ CORE SCIENTIFIC INC NEW 8.0%

Value $116M Shares 6,483,103 Share Price $17.94 * Est. Cost/Share $8.90 Unrealized @ Report Date +64.9%

GLD SPDR GOLD TR 8.0%

Value $116M Shares 325,300 Share Price $355.47 Est. Cost/Share — Unrealized @ Report Date —

SPY SPDR S&P 500 ETF TR 7.1%

Value $103M Shares 154,502 Share Price $666.18 Est. Cost/Share $559.39 Unrealized @ Report Date —

IWM ISHARES TR 7.0%

Value $102M Shares 422,857 Share Price $241.96 Est. Cost/Share $199.49 Unrealized @ Report Date —

AGX ARGAN INC 4.7%

Value $68.75M Shares 254,600 Share Price $270.05 * Est. Cost/Share $123.95 Unrealized @ Report Date +84.2%

CORZ CORE SCIENTIFIC INC NEW 4.7%

Value $68.71M Shares 3,830,000 Share Price $17.94 * Est. Cost/Share $8.90 Unrealized @ Report Date +64.9%

GEV GE VERNOVA INC 4.6%

Value $67.16M Shares 109,217 Share Price $614.90 Est. Cost/Share $253.01 Unrealized @ Report Date +139.3%

CRWV COREWEAVE INC 3.5%

Value $51.32M Shares 375,000 Share Price $136.85 Est. Cost/Share — Unrealized @ Report Date —

AVGO BROADCOM INC 3.5%

Value $50.31M Shares 152,504 Share Price $329.91 * Est. Cost/Share $163.21 Unrealized @ Report Date +87.3%

TKO TKO GROUP HOLDINGS INC 3.0%

Value $43.7M Shares 216,355 Share Price $201.96 * Est. Cost/Share $94.79 Unrealized @ Report Date +91.5%

MSFT MICROSOFT CORP 2.7%

Value $39.16M Shares 75,606 Share Price $517.95 Est. Cost/Share $275.73 Unrealized @ Report Date +84.5%

GDX VANECK ETF TRUST 2.7%

Value $38.96M Shares 509,916 Share Price $76.40 Est. Cost/Share $31.58 Unrealized @ Report Date —

VST VISTRA CORP 2.6%

Value $38.19M Shares 194,943 Share Price $195.92 Est. Cost/Share $102.63 Unrealized @ Report Date +92.6%

TTWO TAKE-TWO INTERACTIVE SOFTWAR 2.6%

Value $37.89M Shares 146,672 Share Price $258.36 * Est. Cost/Share $158.07 Unrealized @ Report Date +49.7%

HDB HDFC BANK LTD 2.5%

Value $36.26M Shares 1,061,396 Share Price $34.16 Est. Cost/Share $54.15 Unrealized @ Report Date —

AMZN AMAZON COM INC 2.4%

Value $35.51M Shares 161,715 Share Price $219.57 * Est. Cost/Share $133.15 Unrealized @ Report Date +70.0%

LLY ELI LILLY & CO 2.1%

Value $30.69M Shares 40,217 Share Price $763.00 * Est. Cost/Share $673.42 Unrealized @ Report Date +10.2%

PWR QUANTA SVCS INC 2.1%

Value $30.55M Shares 73,713 Share Price $414.42 * Est. Cost/Share $300.93 Unrealized @ Report Date +29.1%

GRDN GUARDIAN PHARMACY SVCS INC 1.9%

Value $27.93M Shares 1,064,722 Share Price $26.23 * Est. Cost/Share $23.83 Unrealized @ Report Date 0.0%

NVDA NVIDIA CORPORATION 1.9%

Value $27.58M Shares 147,793 Share Price $186.58 * Est. Cost/Share $91.49 Unrealized @ Report Date +90.5%

Z ZILLOW GROUP INC 1.9%

Value $26.96M Shares 349,877 Share Price $77.05 * Est. Cost/Share $44.52 Unrealized @ Report Date +83.6%

CRWD CROWDSTRIKE HLDGS INC 1.8%

Value $26.28M Shares 53,591 Share Price $490.38 * Est. Cost/Share $152.18 Unrealized @ Report Date +198.8%

CRM SALESFORCE INC 1.7%

Value $24.3M Shares 102,550 Share Price $237.00 * Est. Cost/Share $214.69 Unrealized @ Report Date +17.1%

NFLX NETFLIX INC 1.6%

Value $23.19M Shares 19,343 Share Price $1198.92 * Est. Cost/Share $38.90 Unrealized @ Report Date +213.8%

Value $22.04M Shares 108,500 Share Price $203.16 * Est. Cost/Share $185.72 Unrealized @ Report Date +17.0%

NOW SERVICENOW INC 1.3%

Value $18.34M Shares 19,924 Share Price $920.28 * Est. Cost/Share $95.38 Unrealized @ Report Date +95.8%

CRDO CREDO TECHNOLOGY GROUP HOLDI 1.1%

Value $16.3M Shares 111,909 Share Price $145.61 * Est. Cost/Share $20.94 Unrealized @ Report Date +484.6%

WLDN WILLDAN GROUP INC 1.1%

Value $15.49M Shares 160,243 Share Price $96.69 * Est. Cost/Share $42.90 Unrealized @ Report Date +120.6%

UBER UBER TECHNOLOGIES INC 0.4%

Value $5.826M Shares 59,464 Share Price $97.97 * Est. Cost/Share $37.84 Unrealized @ Report Date +147.1%

PSIX POWER SOLUTIONS INTL INC 0.3%

Value $3.823M Shares 38,926 Share Price $98.22 * Est. Cost/Share $30.03 Unrealized @ Report Date +195.3%

FLY FIREFLY AEROSPACE INC 0.2%

Value $3.518M Shares 120,000 Share Price $29.32 * Est. Cost/Share $44.96 Unrealized @ Report Date 0.0%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
TSM	TAIWAN SEMICONDUCTOR MFG LTD	492,400	$138M	9.5%	$279.29	—	—	Call	874039100
CORZ	CORE SCIENTIFIC INC NEW	6,483,103	$116M	8.0%	$17.94 *	$8.90	+64.9%	COM	21874A106
GLD	SPDR GOLD TR	325,300	$116M	8.0%	$355.47	—	—	Call	78463V107
SPY	SPDR S&P 500 ETF TR	154,502	$103M	7.1%	$666.18	$559.39	—	TR UNIT	78462F103
IWM	ISHARES TR	422,857	$102M	7.0%	$241.96	$199.49	—	RUSSELL 2000 ETF	464287655
AGX	ARGAN INC	254,600	$68.75M	4.7%	$270.05 *	$123.95	+84.2%	COM	04010E109
CORZ	CORE SCIENTIFIC INC NEW	3,830,000	$68.71M	4.7%	$17.94 *	$8.90	+64.9%	Call	21874A106
GEV	GE VERNOVA INC	109,217	$67.16M	4.6%	$614.90	$253.01	+139.3%	COM	36828A101
CRWV	COREWEAVE INC	375,000	$51.32M	3.5%	$136.85	—	—	Call	21873S108
AVGO	BROADCOM INC	152,504	$50.31M	3.5%	$329.91 *	$163.21	+87.3%	COM	11135F101
TKO	TKO GROUP HOLDINGS INC	216,355	$43.7M	3.0%	$201.96 *	$94.79	+91.5%	CL A	87256C101
MSFT	MICROSOFT CORP	75,606	$39.16M	2.7%	$517.95	$275.73	+84.5%	COM	594918104
GDX	VANECK ETF TRUST	509,916	$38.96M	2.7%	$76.40	$31.58	—	GOLD MINERS ETF	92189F106
VST	VISTRA CORP	194,943	$38.19M	2.6%	$195.92	$102.63	+92.6%	COM	92840M102
TTWO	TAKE-TWO INTERACTIVE SOFTWAR	146,672	$37.89M	2.6%	$258.36 *	$158.07	+49.7%	COM	874054109
HDB	HDFC BANK LTD	1,061,396	$36.26M	2.5%	$34.16	$54.15	—	SPONSORED ADS	40415F101
AMZN	AMAZON COM INC	161,715	$35.51M	2.4%	$219.57 *	$133.15	+70.0%	COM	023135106
LLY	ELI LILLY & CO	40,217	$30.69M	2.1%	$763.00 *	$673.42	+10.2%	COM	532457108
PWR	QUANTA SVCS INC	73,713	$30.55M	2.1%	$414.42 *	$300.93	+29.1%	COM	74762E102
GRDN	GUARDIAN PHARMACY SVCS INC	1,064,722	$27.93M	1.9%	$26.23 *	$23.83	0.0%	CL A	40145W101
NVDA	NVIDIA CORPORATION	147,793	$27.58M	1.9%	$186.58 *	$91.49	+90.5%	COM	67066G104
Z	ZILLOW GROUP INC	349,877	$26.96M	1.9%	$77.05 *	$44.52	+83.6%	CL C CAP STK	98954M200
CRWD	CROWDSTRIKE HLDGS INC	53,591	$26.28M	1.8%	$490.38 *	$152.18	+198.8%	CL A	22788C105
CRM	SALESFORCE INC	102,550	$24.3M	1.7%	$237.00 *	$214.69	+17.1%	COM	79466L302
NFLX	NETFLIX INC	19,343	$23.19M	1.6%	$1198.92 *	$38.90	+213.8%	COM	64110L106
RH	RH	108,500	$22.04M	1.5%	$203.16 *	$185.72	+17.0%	COM	74967X103
NOW	SERVICENOW INC	19,924	$18.34M	1.3%	$920.28 *	$95.38	+95.8%	COM	81762P102
CRDO	CREDO TECHNOLOGY GROUP HOLDI	111,909	$16.3M	1.1%	$145.61 *	$20.94	+484.6%	ORDINARY SHARES	G25457105
WLDN	WILLDAN GROUP INC	160,243	$15.49M	1.1%	$96.69 *	$42.90	+120.6%	COM	96924N100
UBER	UBER TECHNOLOGIES INC	59,464	$5.826M	0.4%	$97.97 *	$37.84	+147.1%	COM	90353T100
PSIX	POWER SOLUTIONS INTL INC	38,926	$3.823M	0.3%	$98.22 *	$30.03	+195.3%	COM NEW	73933G202
FLY	FIREFLY AEROSPACE INC	120,000	$3.518M	0.2%	$29.32 *	$44.96	0.0%	COM	31816X106