Tremblant Capital 13F, Q4 2025
Brett Barakett · quarter ending 31 December 2025 · filed 17 February 2026 · SEC CIK 1353312
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q4 2025
The 25 largest of 68 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| SPOTIFY TECHNOLOGY S A | $140.21M | 3.6% | +223% shares | |
| DOORDASH INC | DASH | $134.97M | 3.4% | +203% shares |
| TKO GROUP HOLDINGS INC | TKO | $133.90M | 3.4% | +157% shares |
| Q2 HLDGS INC | QTWO | $130.88M | 3.3% | +408% shares |
| WINGSTOP INC | WING | $117.59M | 3.0% | +305% shares |
| VARONIS SYS INC | VRNS | $115.12M | 2.9% | +678% shares |
| LIVE NATION ENTERTAINMENT | LYV | $111.87M | 2.9% | +282% shares |
| GRAB HOLDINGS LIMITED | $110.48M | 2.8% | +131% shares | |
| COSTAR GROUP INC | CSGP | $110.00M | 2.8% | +624% shares |
| LUMENTUM HLDGS INC | LITE | $109.99M | 2.8% | new |
| ROKU INC | ROKU | $107.42M | 2.7% | +159% shares |
| COUPANG INC | CPNG | $107.26M | 2.7% | +254% shares |
| CHIPOTLE MEXICAN GRILL INC | CMG | $100.38M | 2.6% | +305% shares |
| MONDAY COM LTD | $96.63M | 2.5% | +272% shares | |
| NCINO INC | NCNO | $90.60M | 2.3% | +434% shares |
| UBER TECHNOLOGIES INC | UBER | $86.77M | 2.2% | +181% shares |
| ROYAL CARIBBEAN GROUP | $84.75M | 2.2% | new | |
| WARNER BROS DISCOVERY INC | WBD | $83.71M | 2.1% | -4% shares |
| CYBERARK SOFTWARE LTD | $82.83M | 2.1% | +209% shares | |
| LPL FINL HLDGS INC | LPLA | $79.35M | 2.0% | new |
| AFFIRM HLDGS INC | AFRM | $78.93M | 2.0% | new |
| WYNDHAM HOTELS & RESORTS | WH | $77.98M | 2.0% | +602% shares |
| REDDIT INC | RDDT | $77.32M | 2.0% | new |
| HOWMET AEROSPACE INC | HWM | $76.71M | 2.0% | new |
| CENCORA INC | COR | $68.50M | 1.8% | new |
What changed since Q3 2025
Against the Q3 2025 filing, Tremblant Capital opened 32 new positions, added to 24, trimmed 7, left 5 unchanged and exited 3. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- LITE$109.99M
- ROYAL CARIBBEAN GROUP$84.75M
- LPLA$79.35M
- AFRM$78.93M
- RDDT$77.32M
- HWM$76.71M
- COR$68.50M
- ROL$64.98M
and 24 more
Exited
- VSXYwas $19.77M
- FIVNwas $15.65M
- KDPwas $2.32M
Other quarters
Source: SEC Form 13F-HR, accession 0001214659-26-001896, filed by TREMBLANT CAPITAL GROUP. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.