TC
Tremblant Capital Group — 13F Portfolio Analysis & Stock Picks (Q2 2026)
Tremblant Capital GroupCIK: 0001353312
Diversified strategyContrarianQuality / disciplined sizing
Total reported value
$3.5B
Reporting period: 2026-06-30 · Number of holdings: 58
TREMBLANT CAPITAL GROUP disclosed 58 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $3.5B and a quarterly turnover rate of 45.2%.
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Personality snowflake
- Concentration
- 10.35
- Portfolio Stability
- 45.24
- Momentum
- 0
- Sector conviction
- 59.27
- Diversification
- 100
- Sizing Uniformity
- 92.86
Tremblant Capital Group's disclosed holdings carry a Herfindahl concentration index of 0.026 — mathematically equivalent to about 39 equally-sized positions, close to its 58 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.71), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy SMTC
New buy FORM
Sold out PANW
Trim UBER
-69.4% -$65.2M
Trim RCL
-98.3% -$65.3M
Add VRNS
+4.8% $80.5M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VRNS | Varonis Systems Inc | Stock-Tech | 4.52% | +2.05% | +4.75% | |
| 2 | SMTC | Semtech CORP | Stock-Tech | 4.12% | +4.12% | NEW | |
| 3 | LYV | Live Nation Entertainment In | Stock-Comm Services | 3.90% | +0.19% | -1.77% | |
| 4 | SPOT | Spotify Technology S.A. | Stock-Comm Services | 3.87% | -0.51% | +4.59% | |
| 5 | MKSI | Mks Inc | Stock-Tech | 3.77% | +1.33% | -10.43% | |
| 6 | DASH | Doordash Inc - A | Stock-Consumer Disc | 3.56% | +0.29% | -0.72% | |
| 7 | CPNG | Coupang Inc | Stock-Consumer Disc | 3.47% | +0.47% | +40.80% | |
| 8 | AFRM | Affirm Holdings Inc | Stock-Financials | 3.43% | +1.37% | +4.79% | |
| 9 | FORM | Formfactor Inc | Stock-Tech | 3.28% | +3.28% | NEW | |
| 10 | BE | Bloom Energy Corp- A | Stock-Industrials | 3.19% | +0.81% | -32.70% | |
| 11 | TKO | Tko Group Holdings Inc | Stock-Comm Services | 3.13% | -0.75% | -9.58% | |
| 12 | RDDT | Reddit Inc-cl A | Stock-Comm Services | 2.99% | +0.50% | +4.64% | |
| 13 | MDB | Mongodb Inc | Stock-Tech | 2.93% | +0.82% | +13.49% | |
| 14 | WING | Wingstop Inc | Stock-Consumer Disc | 2.72% | +0.34% | +14.56% | |
| 15 | NET | Cloudflare Inc - Class A | Stock-Tech | 2.71% | +0.76% | +30.86% | |
| 16 | QTWO | Q2 Holdings Inc | Stock-Tech | 2.54% | -0.05% | +8.17% | |
| 17 | HWM | Howmet Aerospace Inc | Stock-Industrials | 2.51% | -0.12% | -8.19% | |
| 18 | GRAB | Grab Holdings Limited | Stock-Tech | 2.50% | -0.37% | -5.44% | |
| 19 | LITE | Lumentum Holdings Inc | Stock-Tech | 2.38% | -1.07% | -36.83% | |
| 20 | CMG | Chipotle Mexican Grill Inc | Stock-Consumer Disc | 2.26% | -0.13% | -0.03% | |
| 21 | WH | Wyndham Hotels & Resorts Inc | Stock-Consumer Disc | 2.22% | -0.43% | -9.25% | |
| 22 | TLN | Talen Energy CORP | Stock-Utilities | 2.18% | +0.56% | +25.48% | |
| 23 | RKLB | Rocket Lab CORP | Stock-Industrials | 1.97% | +0.41% | -10.31% | |
| 24 | WAB | Wabtec CORP | Stock-Industrials | 1.96% | -0.19% | -5.62% | |
| 25 | COR | Cencora Inc | Stock-Healthcare | 1.93% | -0.23% | +11.23% | |
| 26 | FTAI | FTAI Aviation Ltd. | Stock-Industrials | 1.81% | -0.05% | -0.80% | |
| 27 | EME | Emcor Group Inc | Stock-Industrials | 1.60% | -0.03% | -1.71% | |
| 28 | TRGP | Targa Resources CORP | Stock-Energy | 1.51% | -0.10% | -1.71% | |
| 29 | FCFS | Firstcash Holdings Inc | Stock-Financials | 1.26% | +0.42% | +45.68% | |
| 30 | CVNA | Carvana Co | Stock-Consumer Disc | 1.19% | -0.11% | +391.46% | |
| 31 | BWXT | Bwx Technologies Inc | Stock-Industrials | 1.17% | -0.51% | -18.38% | |
| 32 | ROKU | Roku Inc | Stock-Comm Services | 1.12% | -1.81% | -70.56% | |
| 33 | SBUX | Starbucks CORP | Stock-Consumer Disc | 1.11% | -0.53% | -33.12% | |
| 34 | VLO | Valero Energy CORP | Stock-Energy | 1.04% | -0.09% | -1.71% | |
| 35 | DDOG | Datadog Inc - Class A | Stock-Tech | 1.00% | +1.00% | NEW | |
| 36 | MNDY | monday.com Ltd. | Stock-Tech | 0.97% | +0.60% | +182.55% | |
| 37 | IDXX | Idexx Laboratories Inc | Stock-Healthcare | 0.96% | -0.21% | -1.71% | |
| 38 | NCLH | Norwegian Cruise Line Holdings Ltd. | Stock-Consumer Disc | 0.92% | -0.64% | -41.76% | |
| 39 | GH | Guardant Health Inc | Stock-Healthcare | 0.85% | +0.85% | NEW | |
| 40 | UBER | Uber Technologies Inc | Stock-Industrials | 0.83% | -2.20% | -69.38% | |
| 41 | SOFI | Sofi Technologies Inc | Stock-Financials | 0.81% | -0.01% | -1.71% | |
| 42 | ALNY | Alnylam Pharmaceuticals Inc | Stock-Healthcare | 0.80% | -0.21% | -1.71% | |
| 43 | ONDS | Ondas Inc | Stock-Tech | 0.80% | +0.80% | NEW | |
| 44 | DIS | Walt Disney Co/the | Stock-Comm Services | 0.75% | -0.07% | +3.04% | |
| 45 | PODD | Insulet CORP | Stock-Healthcare | 0.68% | -0.04% | +45.59% | |
| 46 | MELI | Mercadolibre Inc | Stock-Consumer Disc | 0.65% | -0.10% | -0.33% | |
| 47 | ATEC | Alphatec Holdings Inc | Stock-Other | 0.64% | -0.13% | +17.60% | |
| 48 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.61% | -0.14% | -21.06% | |
| 49 | NTRA | Natera Inc | Stock-Healthcare | 0.55% | +0.55% | NEW | |
| 50 | INSM | Insmed Inc | Stock-Healthcare | 0.52% | -0.39% | -1.71% |
1–50 of 58
Portfolio Performance
Performance for Q3 2026
+4.3%
Performance Last 4 Quarters
-1.4%
- Stdev
- +18%
- Beta
- +1.09
- Alpha
- -5.5%
- Max Drawdown
- -17.3%
- Annualized Perf
- +15.8%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +1.63
- Stutzer
- +0.27
- Treynor
- +0.15
- Sterling
- +0.8
- Calmar
- +0.91
- Information Ratio
- -0.33
- Tracking Error
- +11.3%
- Stdev Down
- +10%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +40.2%
- Worst 12 Months
- -5.3%
- Efficiency Ratio
- +0.35
- Sharpe
- +0.9
- Stdev Sectors
- +9.8%
- Skewness
- +0.06
- Kurtosis
- -0.59
- Upside Potential
- +3.45
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 58 | $3.5B | 45 | ||
| 2026 Q1 | 57 | $3.1B | 49 | ||
| 2025 Q4 | 68 | $3.9B | 100 | ||
| 2025 Q3 | 39 | $969.0M | 63 | ||
| 2025 Q2 | 44 | $1.0B | 0 | ||
| 2025 Q1 | 46 | $890.1M | 100 | ||
| 2024 Q4 | 45 | $965.6M | 0 | ||
| 2024 Q3 | 44 | $908.8M | 0 | ||
| 2024 Q2 | 41 | $923.7M | 0 | ||
| 2024 Q1 | 42 | $926.8M | 0 | ||
| 2023 Q4 | 38 | $885.7M | 0 | ||
| 2023 Q3 | 43 | $952.4M | 0 | ||
| 2023 Q2 | 41 | $1.0B | 0 | ||
| 2023 Q1 | 40 | $943.7M | 0 | ||
| 2022 Q4 | 38 | $1.2B | 0 | ||
| 2022 Q3 | 35 | $1.6B | 0 | ||
| 2022 Q2 | 29 | $1.7B | 0 | ||
| 2022 Q1 | 39 | $2.8B | 0 | ||
| 2021 Q4 | 33 | $2.8B | 0 | ||
| 2021 Q3 | 43 | $3.2B | 0 | ||
| 2021 Q2 | 45 | $3.7B | 97 | ||
| 2021 Q1 | 46 | $3.4B | 52 | ||
| 2020 Q4 | 46 | $3.5B | 39 | ||
| 2020 Q3 | 41 | $2.6B | 46 | ||
| 2020 Q2 | 41 | $2.4B | 61 | ||
| 2020 Q1 | 45 | $1.6B | 69 | ||
| 2019 Q4 | 31 | $2.0B | 71 | ||
| 2019 Q3 | 38 | $1.7B | 43 | ||
| 2019 Q2 | 38 | $1.6B | 52 | ||
| 2019 Q1 | 42 | $1.7B | 45 | ||
| 2018 Q4 | 41 | $1.5B | 54 | ||
| 2018 Q3 | 50 | $1.9B | 43 | ||
| 2018 Q2 | 43 | $1.7B | 48 | ||
| 2018 Q1 | 39 | $1.6B | 78 | ||
| 2017 Q4 | 40 | $2.1B | 46 | ||
| 2017 Q3 | 40 | $2.3B | 62 | ||
| 2017 Q2 | 39 | $1.4B | 46 | ||
| 2017 Q1 | 37 | $1.4B | 64 | ||
| 2016 Q4 | 41 | $1.6B | 42 | ||
| 2016 Q3 | 48 | $1.8B | 68 | ||
| 2016 Q2 | 50 | $1.7B | 53 | ||
| 2016 Q1 | 51 | $1.7B | 65 | ||
| 2015 Q4 | 49 | $1.6B | 59 | ||
| 2015 Q3 | 45 | $1.6B | 58 | ||
| 2015 Q2 | 45 | $1.8B | 62 | ||
| 2015 Q1 | 42 | $1.5B | 50 | ||
| 2014 Q4 | 44 | $2.1B | 64 | ||
| 2014 Q3 | 50 | $2.8B | 47 | ||
| 2014 Q2 | 46 | $2.6B | 34 | ||
| 2014 Q1 | 52 | $2.7B | 46 | ||
| 2013 Q4 | 52 | $3.2B | 42 | ||
| 2013 Q3 | 48 | $2.5B | 44 | ||
| 2013 Q2 | 48 | $2.1B | 0 |
Holding changes this quarter
Tremblant Capital Group's most significant position changes for 2026-06-30: New buy: Semtech CORP (SMTC); New buy: Formfactor Inc (FORM); Sold out: Palo Alto Networks Inc (PANW); Sold out: Rollins Inc (ROL); Sold out: Axon Enterprise Inc (AXON).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SMTC | Semtech CORP | +4.1% | NEW | New buy |
| 2 | FORM | Formfactor Inc | +3.3% | NEW | New buy |
| 3 | VRNS | Varonis Systems Inc | +2.1% | +4.75% | Add |
| 4 | AFRM | Affirm Holdings Inc | +1.4% | +4.79% | Add |
| 5 | MKSI | Mks Inc | +1.3% | -10.43% | Trim |
| 6 | DDOG | Datadog Inc - Class A | +1% | NEW | New buy |
| 7 | GH | Guardant Health Inc | +0.9% | NEW | New buy |
| 8 | MDB | Mongodb Inc | +0.8% | +13.49% | Add |
| 9 | BE | Bloom Energy Corp- A | +0.8% | -32.70% | Trim |
| 10 | ONDS | Ondas Inc | +0.8% | NEW | New buy |
| 11 | NET | Cloudflare Inc - Class A | +0.8% | +30.86% | Add |
| 12 | MNDY | monday.com Ltd. | +0.6% | +182.55% | Add |
| 13 | TLN | Talen Energy CORP | +0.6% | +25.48% | Add |
| 14 | NTRA | Natera Inc | +0.6% | NEW | New buy |
| 15 | RDDT | Reddit Inc-cl A | +0.5% | +4.64% | Add |
| 16 | CPNG | Coupang Inc | +0.5% | +40.80% | Add |
| 17 | NRG | Nrg Energy Inc | +0.4% | NEW | New buy |
| 18 | FCFS | Firstcash Holdings Inc | +0.4% | +45.68% | Add |
| 19 | RKLB | Rocket Lab CORP | +0.4% | -10.31% | Trim |
| 20 | WING | Wingstop Inc | +0.3% | +14.56% | Add |
| 21 | DASH | Doordash Inc - A | +0.3% | -0.72% | Trim |
| 22 | LYV | Live Nation Entertainment In | +0.2% | -1.77% | Trim |
| 23 | MTCH | Match Group Inc | 0% | +1.41% | Add |
| 24 | DKNG | Draftkings Inc-cl A | — | +1.41% | Add |
| 25 | EVR | Evercore Inc - A | — | +1.42% | Add |
| 26 | PGR | Progressive CORP | — | +1.41% | Add |
| 27 | SOFI | Sofi Technologies Inc | 0% | -1.71% | Trim |
| 28 | SHOP | Shopify Inc - Class A | 0% | +12.40% | Add |
| 29 | EME | Emcor Group Inc | 0% | -1.71% | Trim |
| 30 | PODD | Insulet CORP | 0% | +45.59% | Add |
| 31 | QTWO | Q2 Holdings Inc | -0.1% | +8.17% | Add |
| 32 | FTAI | FTAI Aviation Ltd. | -0.1% | -0.80% | Trim |
| 33 | DIS | Walt Disney Co/the | -0.1% | +3.04% | Add |
| 34 | VLO | Valero Energy CORP | -0.1% | -1.71% | Trim |
| 35 | TRGP | Targa Resources CORP | -0.1% | -1.71% | Trim |
| 36 | MELI | Mercadolibre Inc | -0.1% | -0.33% | Trim |
| 37 | CVNA | Carvana Co | -0.1% | +391.46% | Add |
| 38 | HWM | Howmet Aerospace Inc | -0.1% | -8.19% | Trim |
| 39 | CMG | Chipotle Mexican Grill Inc | -0.1% | -0.03% | Trim |
| 40 | ATEC | Alphatec Holdings Inc | -0.1% | +17.60% | Add |
| 41 | AMZN | Amazon.com Inc | -0.1% | -21.06% | Trim |
| 42 | WAB | Wabtec CORP | -0.2% | -5.62% | Trim |
| 43 | LION | Lionsgate Studios CORP | -0.2% | EXIT | Sold out |
| 44 | ALNY | Alnylam Pharmaceuticals Inc | -0.2% | -1.71% | Trim |
| 45 | IDXX | Idexx Laboratories Inc | -0.2% | -1.71% | Trim |
| 46 | COR | Cencora Inc | -0.2% | +11.23% | Add |
| 47 | GRAB | Grab Holdings Limited | -0.4% | -5.44% | Trim |
| 48 | INSM | Insmed Inc | -0.4% | -1.71% | Trim |
| 49 | WBD | Warner Bros Discovery Inc | -0.4% | EXIT | Sold out |
| 50 | WH | Wyndham Hotels & Resorts Inc | -0.4% | -9.25% | Trim |
1–50 of 64
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Filing History
FAQ
What is Tremblant Capital Group and what type of investor is it?
Tremblant Capital Group is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $3.5B, spread across 58 disclosed positions.
What are Tremblant Capital Group's largest equity positions?
Based on the latest 13F filing, Tremblant Capital Group's top holdings by market value are:
1. Varonis Systems Inc (VRNS) — $157.3M (4.5%)
2. Semtech CORP (SMTC) — $143.6M (4.1%)
3. Live Nation Entertainment In (LYV) — $135.8M (3.9%)
4. Spotify Technology S.A. (SPOT) — $134.7M (3.9%)
5. Mks Inc (MKSI) — $131.4M (3.8%)
What changes did Tremblant Capital Group make in its most recent portfolio filing?
In the latest reported quarter, Tremblant Capital Group made 64 notable position adjustments: 7 new positions were initiated, 22 existing holdings were added to, 29 positions were partially reduced, and 6 were completely exited. The largest of these moves: New buy: Semtech CORP (SMTC); New buy: Formfactor Inc (FORM); Sold out: Palo Alto Networks Inc (PANW); Sold out: Rollins Inc (ROL); Sold out: Axon Enterprise Inc (AXON)
What sectors does Tremblant Capital Group focus on?
Tremblant Capital Group is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 32.2%
• Consumer Discretionary: 19.0%
• Communication Services: 16.1%
• Industrials: 15.1%
• Health Care: 6.3%
• Financials: 5.8%
Investment Profile
Tremblant Capital Group returned an annualized 15.8% over the trailing 36 months — underperforming the S&P 500 by 5.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.09 (roughly in line with the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 32.2% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 45 over the past 4 quarters — a shift toward more active trading.
It has added to its BE position over the past two quarters (+$70.6M, now $111.1M), while trimming CSGP over the same stretch (-$103.5M, still holding $6.5M).
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NB
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Developer Access
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