Q4 2025 · 13F-HR
Varenne Capital Partnersholdings as filed
Filed 2026-02-17 · accession 0000945621-26-000325
$520.9M
Reported value
26
Positions
2025-12-31
Period end
The Brief · Varenne Capital Partners · Q4 2025
AI · grounded in 13F
Varenne Capital Partners established a new position in TSM worth $55.6M. The fund also opened new stakes in ON HLDG AG for $29.9M and LLY for $27.6M. To fund these moves, the manager closed positions in DIS and META, reducing exposure by $29.2M and $27.2M respectively.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| G87052109 | TEL | TE CONNECTIVITY PLC | $64.8M | 12.4% | 284,802 | Common | SOLE |
| 040413205 | ANET | ARISTA NETWORKS INC | $58.0M | 11.1% | 442,083 | Common | SOLE |
| 929740108 | WAB | WABTEC | $56.3M | 10.8% | 263,672 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $55.6M | 10.7% | 182,745 | Common | SOLE |
| H5919C904 | — | ON HLDG AG | $29.9M | 5.74% | 35,700 | CALL | NONE |
| 532457108 | LLY | ELI LILLY & CO | $27.6M | 5.31% | 25,716 | Common | SOLE |
| 98419M100 | XYL | XYLEM INC | $27.2M | 5.23% | 199,927 | Common | SOLE |
| 032095101 | APH | AMPHENOL CORP NEW | $24.8M | 4.77% | 183,750 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $24.8M | 4.76% | 51,246 | Common | SOLE |
| 90353T100 | UBER | UBER TECHNOLOGIES INC | $22.3M | 4.27% | 272,382 | Common | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $22.1M | 4.24% | 235,621 | Common | SOLE |
| 052769106 | ADSK | AUTODESK INC | $21.9M | 4.21% | 74,092 | Common | SOLE |
| 219350105 | GLW | CORNING INC | $21.1M | 4.06% | 241,150 | Common | SOLE |
| 032654105 | ADI | ANALOG DEVICES INC | $20.3M | 3.90% | 74,780 | Common | SOLE |
| 654106903 | NKE | NIKE INC | $10.2M | 1.95% | 37,800 | CALL | NONE |
| 913903100 | UHS | UNIVERSAL HLTH SVCS INC | $7.4M | 1.42% | 33,940 | Common | SOLE |
| 36828A101 | GEV | GE VERNOVA INC | $5.1M | 0.98% | 7,818 | Common | SOLE |
| 595112103 | MU | MICRON TECHNOLOGY INC | $4.5M | 0.87% | 15,847 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $3.3M | 0.63% | 9,430 | Common | SOLE |
| 09857L108 | BKNG | BOOKING HOLDINGS INC | $3.1M | 0.60% | 583 | Common | SOLE |
| 00912X302 | AL | AIR LEASE CORP | $2.9M | 0.57% | 45,888 | Common | SOLE |
| 16115Q308 | GTLS | CHART INDS INC | $2.5M | 0.48% | 12,000 | Common | SOLE |
| 436440101 | HO1 | HOLOGIC INC | $2.2M | 0.42% | 29,116 | Common | SOLE |
| 36266G107 | GEHC | GE HEALTHCARE TECHNOLOGIES I | $1.4M | 0.27% | 17,357 | Common | SOLE |
| 70450Y103 | PYPL | PAYPAL HLDGS INC | $1.2M | 0.24% | 21,031 | Common | SOLE |
| 74743L100 | Q | QNITY ELECTRONICS INC | $251,350 | 0.05% | 3,077 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.