CIK: 0002083646
Total reported value
$271.9M
Reporting period: 2026-03-31 · Number of holdings: 36
Franchise GP Ltd disclosed 36 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $271.9M and a quarterly turnover rate of 105.7%.
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Franchise GP Ltd's disclosed holdings carry a Herfindahl concentration index of 0.129 — mathematically equivalent to about 8 equally-sized positions, well below its 36 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.94), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 11.7 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 65% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim PDD
+64.6% $16.6M
Add CRCL
+50901.5% $42.3M
Trim NVDA
+158.3% $33.4M
Trim TSM
+103.6% $18.2M
Trim GOOG
+82.9% $3.7M
Trim META
+39.7% $852.0K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 20.93% | -5.62% | +158.27% | |
| 2 | PDD | Pdd Holdings INC | Stock-Consumer Disc | 18.71% | -19.93% | +64.60% | |
| 3 | CRCL | Circle Internet Group INC | Stock-Financials | 15.57% | +15.49% | +50901.49% | |
| 4 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 12.01% | -4.25% | +103.62% | |
| 5 | PBR | Petroleo Brasileiro-spon Adr | Stock-Energy | 6.50% | +6.50% | NEW | |
| 6 | LITE | Lumentum Holdings INC | Stock-Tech | 4.95% | +4.95% | NEW | |
| 7 | AVGO | Broadcom INC | Stock-Tech | 3.91% | +3.91% | NEW | |
| 8 | YB | Yuanbao INC -adr | Stock-Other | 3.46% | +1.94% | +700.76% | |
| 9 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 3.35% | -2.78% | +82.94% | |
| 10 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.80% | -2.75% | +39.71% | |
| 11 | FUTU | Futu Holdings Ltd-adr | Stock-Financials | 1.48% | +1.48% | NEW | |
| 12 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 1.16% | +1.16% | NEW | |
| 13 | MU | Micron Technology INC | Stock-Tech | 1.03% | +1.03% | NEW | |
| 14 | SNDK | Sandisk CORP | Stock-Tech | 1.00% | +1.00% | NEW | |
| 15 | AMD | Advanced Micro Devices | Stock-Tech | 0.78% | +0.78% | NEW | |
| 16 | RBLX | Roblox CORP -class A | Stock-Comm Services | 0.62% | +0.62% | NEW | |
| 17 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.56% | +0.56% | NEW | |
| 18 | TER | Teradyne INC | Stock-Tech | 0.55% | +0.55% | NEW | |
| 19 | APH | Amphenol Corp-cl A | Stock-Tech | 0.54% | +0.54% | NEW | |
| 20 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.34% | +0.34% | NEW | |
| 21 | EQIX | Equinix INC | Stock-Real Estate | 0.10% | -0.13% | — | |
| 22 | PHM | Pultegroup INC | Stock-Consumer Disc | 0.08% | -0.18% | — | |
| 23 | DLR | Digital Realty Trust INC | Stock-Real Estate | 0.08% | -0.14% | — | |
| 24 | HST | Host Hotels & Resorts INC | Stock-Real Estate | 0.08% | -0.15% | — | |
| 25 | IBIT | Ishares Bitcoin Trust ETF | ETF-Crypto | 0.06% | -0.16% | — | |
| 26 | DHI | Dr Horton INC | Stock-Consumer Disc | 0.05% | -0.12% | — | |
| 27 | ETHA | Ishares Ethereum Trust ETF | ETF-Other | 0.04% | -0.15% | — | |
| 28 | APP | Applovin Corp-class A | Stock-Tech | 0.04% | +0.04% | NEW | |
| 29 | COLD | Americold Realty Trust INC | Stock-Real Estate | 0.04% | -0.20% | -48.04% | |
| 30 | WELL | Welltower INC | Stock-Real Estate | 0.03% | -0.06% | — | |
| 31 | BMNR | Bitmine Immersion Technologi | Stock-Financials | 0.03% | -0.10% | — | |
| 32 | AHR | American Healthcare Reit INC | Stock-Real Estate | 0.03% | -0.11% | -38.84% | |
| 33 | VICI | Vici Properties INC | Stock-Real Estate | 0.02% | -0.05% | — | |
| 34 | BEKE | Ke Holdings Inc-adr | Stock-Other | 0.02% | -0.05% | — | |
| 35 | IRM | Iron Mountain INC | Stock-Real Estate | 0.02% | -0.02% | — | |
| 36 | VTR | Ventas INC | Stock-Real Estate | 0.02% | -0.08% | -54.55% |
Performance for Q3 2026
-17.7%
Performance Last 4 Quarters
-14.4%
Based on 5 months of available history
Based on 82% of reported portfolio value with available pricing
Franchise GP Ltd's most significant position changes for 2026-03-31: New buy: Petroleo Brasileiro-spon Adr (PBR); New buy: Lumentum Holdings INC (LITE); New buy: Broadcom INC (AVGO); New buy: Futu Holdings Ltd-adr (FUTU); New buy: Vertiv Holdings Co-a (VRT).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CRCL | Circle Internet Group INC | +15.5% | +50901.49% | Add |
| 2 | YB | Yuanbao INC -adr | +1.9% | +700.76% | Add |
| 3 | IRM | Iron Mountain INC | 0% | — | Unchanged |
| 4 | BEKE | Ke Holdings Inc-adr | -0.1% | — | Unchanged |
| 5 | VICI | Vici Properties INC | -0.1% | — | Unchanged |
| 6 | WELL | Welltower INC | -0.1% | — | Unchanged |
| 7 | VTR | Ventas INC | -0.1% | -54.55% | Trim |
| 8 | BMNR | Bitmine Immersion Technologi | -0.1% | — | Unchanged |
| 9 | AHR | American Healthcare Reit INC | -0.1% | -38.84% | Trim |
| 10 | DHI | Dr Horton INC | -0.1% | — | Unchanged |
| 11 | EQIX | Equinix INC | -0.1% | — | Unchanged |
| 12 | DLR | Digital Realty Trust INC | -0.1% | — | Unchanged |
| 13 | ETHA | Ishares Ethereum Trust ETF | -0.2% | — | Unchanged |
| 14 | HST | Host Hotels & Resorts INC | -0.2% | — | Unchanged |
| 15 | IBIT | Ishares Bitcoin Trust ETF | -0.2% | — | Unchanged |
| 16 | PHM | Pultegroup INC | -0.2% | — | Unchanged |
| 17 | COLD | Americold Realty Trust INC | -0.2% | -48.04% | Trim |
| 18 | META | Meta Platforms Inc-class A | -2.8% | +39.71% | Add |
| 19 | GOOG | Alphabet Inc-cl C | -2.8% | +82.94% | Add |
| 20 | TSM | Taiwan Semiconductor-sp Adr | -4.3% | +103.62% | Add |
| 21 | NVDA | Nvidia CORP | -5.6% | +158.27% | Add |
| 22 | PDD | Pdd Holdings INC | -19.9% | +64.60% | Add |
| 23 | PBR | Petroleo Brasileiro-spon Adr | — | NEW | New buy |
| 24 | LITE | Lumentum Holdings INC | — | NEW | New buy |
| 25 | AVGO | Broadcom INC | — | NEW | New buy |
| 26 | FUTU | Futu Holdings Ltd-adr | — | NEW | New buy |
| 27 | VRT | Vertiv Holdings Co-a | — | NEW | New buy |
| 28 | HSDT | Solana Co | — | EXIT | Sold out |
| 29 | MU | Micron Technology INC | — | NEW | New buy |
| 30 | SNDK | Sandisk CORP | — | NEW | New buy |
| 31 | AMD | Advanced Micro Devices | — | NEW | New buy |
| 32 | RBLX | Roblox CORP -class A | — | NEW | New buy |
| 33 | PLTR | Palantir Technologies Inc-a | — | NEW | New buy |
| 34 | TER | Teradyne INC | — | NEW | New buy |
| 35 | APH | Amphenol Corp-cl A | — | NEW | New buy |
| 36 | LLY | Eli Lilly & Co | — | NEW | New buy |
| 37 | SE | Sea Ltd-adr | — | EXIT | Sold out |
| 38 | APP | Applovin Corp-class A | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-16 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-28 | 13F-HR | View on EDGAR |
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