VC
Varenne Capital Partners's 13F Portfolio ($603.3M, Q2 2026)
Varenne Capital PartnersCIK: 0001902567
High-turnover traderMomentum followerSector-focused
Total reported value
$603.3M
Reporting period: 2026-06-30 · Number of holdings: 30
Varenne Capital Partners disclosed 30 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $603.3M and a quarterly turnover rate of 107.4%.
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Personality snowflake
- Concentration
- 28.75
- Portfolio Stability
- 100
- Momentum
- 100
- Sector conviction
- 99.85
- Diversification
- 60
- Sizing Uniformity
- 89.06
Varenne Capital Partners's disclosed holdings carry a Herfindahl concentration index of 0.072 — mathematically equivalent to about 14 equally-sized positions, well below its 30 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.09), 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.govAdd AVGO
+2173.6% $79.0M
Sold out BKNG
Sold out NVST
Sold out TEL
New buy WWD
Sold out T
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 | AVGO | Broadcom Inc | Stock-Tech | 13.59% | +12.87% | +2173.60% | |
| 2 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 12.13% | -3.02% | -16.94% | |
| 3 | ANET | Arista Networks Inc | Stock-Tech | 11.79% | -0.73% | -0.22% | |
| 4 | WWD | Woodward Inc | Stock-Industrials | 6.10% | +6.10% | NEW | |
| 5 | APH | Amphenol Corp-cl A | Stock-Tech | 5.44% | -0.25% | +0.40% | |
| 6 | LLY | Eli Lilly & Co | Stock-Healthcare | 5.22% | -0.60% | +0.73% | |
| 7 | NVDA | Nvidia CORP | Stock-Tech | 5.14% | +5.14% | NEW | |
| 8 | EL | Estee Lauder Companies-cl A | Stock-Consumer Staples | 4.65% | +4.65% | NEW | |
| 9 | ADI | Analog Devices Inc | Stock-Tech | 4.62% | -1.64% | -13.43% | |
| 10 | CBOE | Cboe Global Markets Inc | Stock-Financials | 4.30% | +4.30% | NEW | |
| 11 | FIVE | Five Below | Stock-Consumer Disc | 4.19% | +4.19% | NEW | |
| 12 | HSY | Hershey Co/the | Stock-Consumer Staples | 3.69% | +3.69% | NEW | |
| 13 | GMED | Globus Medical Inc - A | Stock-Healthcare | 3.12% | -1.83% | +0.67% | |
| 14 | GEHC | GE Healthcare Technology | Stock-Healthcare | 2.57% | +2.27% | +1273.11% | |
| 15 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.41% | +2.41% | NEW | |
| 16 | VFC | Vf CORP | Stock-Consumer Disc | 2.27% | +2.27% | NEW | |
| 17 | GXO | Gxo Logistics Inc | Stock-Industrials | 1.13% | -0.92% | -17.00% | |
| 18 | MU | Micron Technology Inc | Stock-Tech | 1.01% | +0.01% | -56.44% | |
| 19 | TXT | Textron Inc | Stock-Industrials | 0.96% | +0.96% | NEW | |
| 20 | WCN | Waste Connections Inc | Stock-Industrials | 0.95% | +0.95% | NEW | |
| 21 | WAB | Wabtec CORP | Stock-Industrials | 0.91% | -0.26% | +6.55% | |
| 22 | SCHW | The Charles Schwab Corporation | Stock-Financials | 0.86% | +0.86% | NEW | |
| 23 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.80% | -0.80% | -33.98% | |
| 24 | ROST | Ross Stores Inc | Stock-Consumer Disc | 0.66% | +0.66% | NEW | |
| 25 | GTLS | Chart Industries Inc | Stock-Industrials | 0.62% | -0.28% | — | |
| 26 | WBD | Warner Bros Discovery Inc | Stock-Comm Services | 0.46% | +0.46% | NEW | |
| 27 | WBD | Warner Bros. Discovery, Inc. | Stock-Comm Services | 0.34% | +0.34% | NEW | |
| 28 | BRC | Brady Corporation - Cl A | Stock-Other | 0.05% | +0.05% | NEW | |
| 29 | ✓ | Nike Inc | Stock-Other | 0.01% | -0.32% | -54.76% | |
| 30 | META | Meta Platforms, Inc. | Stock-Comm Services | 0.01% | +0.01% | NEW |
Portfolio Performance
Performance for Q3 2026
+4.2%
Performance Last 4 Quarters
+25%
- Stdev
- +19.3%
- Beta
- +1.19
- Alpha
- -6.4%
- Max Drawdown
- -15.5%
- Annualized Perf
- +16.7%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +1.53
- Stutzer
- +0.26
- Treynor
- +0.15
- Sterling
- +0.76
- Calmar
- +1.08
- Information Ratio
- -0.22
- Tracking Error
- +12%
- Stdev Down
- +11.3%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +54.4%
- Worst 12 Months
- -7.9%
- Efficiency Ratio
- +0.35
- Sharpe
- +0.9
- Stdev Sectors
- +16.5%
- Skewness
- -0.14
- Kurtosis
- -0.3
- Upside Potential
- +3.24
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 30 | $603.3M | 100 | ||
| 2026 Q1 | 30 | $413.0M | 93 | ||
| 2025 Q4 | 28 | $520.9M | 79 | ||
| 2025 Q3 | 24 | $526.7M | 100 | ||
| 2025 Q2 | 22 | $576.5M | 0 | ||
| 2025 Q1 | 18 | $278.4M | 0 | ||
| 2024 Q4 | 17 | $338.9M | 0 | ||
| 2024 Q3 | 16 | $522.2M | 0 | ||
| 2024 Q2 | 16 | $396.1M | 0 | ||
| 2024 Q1 | 17 | $637.5M | 0 | ||
| 2023 Q4 | 19 | $334.7M | 0 | ||
| 2023 Q3 | 8 | $103.5M | 0 | ||
| 2023 Q2 | 11 | $214.6M | — | ||
| 2023 Q1 | 9 | $298.5M | 0 | ||
| 2022 Q4 | 7 | $197.7M | 0 | ||
| 2022 Q3 | 11 | $241.1M | 0 | ||
| 2022 Q2 | 14 | $360.6M | 0 | ||
| 2022 Q1 | 14 | $492.8M | 0 | ||
| 2021 Q4 | 15 | $673.8M | 0 |
Holding changes this quarter
Varenne Capital Partners's most significant position changes for 2026-06-30: New buy: Woodward Inc (WWD); New buy: Nvidia CORP (NVDA); New buy: Estee Lauder Companies-cl A (EL); Sold out: Booking Holdings Inc (BKNG); Sold out: Envista Holdings CORP (NVST).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AVGO | Broadcom Inc | +12.9% | +2173.60% | Add |
| 2 | WWD | Woodward Inc | +6.1% | NEW | New buy |
| 3 | NVDA | Nvidia CORP | +5.1% | NEW | New buy |
| 4 | EL | Estee Lauder Companies-cl A | +4.7% | NEW | New buy |
| 5 | CBOE | Cboe Global Markets Inc | +4.3% | NEW | New buy |
| 6 | FIVE | Five Below | +4.2% | NEW | New buy |
| 7 | HSY | Hershey Co/the | +3.7% | NEW | New buy |
| 8 | AMZN | Amazon.com Inc | +2.4% | NEW | New buy |
| 9 | GEHC | GE Healthcare Technology | +2.3% | +1273.11% | Add |
| 10 | VFC | Vf CORP | +2.3% | NEW | New buy |
| 11 | TXT | Textron Inc | +1% | NEW | New buy |
| 12 | WCN | Waste Connections Inc | +1% | NEW | New buy |
| 13 | SCHW | The Charles Schwab Corporation | +0.9% | NEW | New buy |
| 14 | ROST | Ross Stores Inc | +0.7% | NEW | New buy |
| 15 | WBD | Warner Bros Discovery Inc | +0.5% | NEW | New buy |
| 16 | WBD | Warner Bros. Discovery, Inc. | +0.3% | NEW | New buy |
| 17 | BRC | Brady Corporation - Cl A | +0.1% | NEW | New buy |
| 18 | MU | Micron Technology Inc | 0% | -56.44% | Trim |
| 19 | META | Meta Platforms, Inc. | 0% | NEW | New buy |
| 20 | SDA | Sealed Air CORP | -0.1% | EXIT | Sold out |
| 21 | ROP | Roper Technologies Inc | -0.2% | EXIT | Sold out |
| 22 | ✓ | Amazon Com Inc | -0.2% | EXIT | Sold out |
| 23 | APH | Amphenol Corp-cl A | -0.3% | +0.40% | Add |
| 24 | WAB | Wabtec CORP | -0.3% | +6.55% | Add |
| 25 | GTLS | Chart Industries Inc | -0.3% | — | Unchanged |
| 26 | ✓ | Nike Inc | -0.3% | -54.76% | Trim |
| 27 | CWAN | Clearwater Analytics Holdings, Inc. | -0.4% | EXIT | Sold out |
| 28 | K4F | Onestream Inc | -0.5% | EXIT | Sold out |
| 29 | LLY | Eli Lilly & Co | -0.6% | +0.73% | Add |
| 30 | AM6 | Amicus Therapeutics Inc | -0.6% | EXIT | Sold out |
| 31 | ANET | Arista Networks Inc | -0.7% | -0.22% | Trim |
| 32 | JNJ | Johnson & Johnson | -0.8% | -33.98% | Trim |
| 33 | AL | Air Lease CORP | -0.9% | EXIT | Sold out |
| 34 | HO1 | Hologic Inc | -0.9% | EXIT | Sold out |
| 35 | GXO | Gxo Logistics Inc | -0.9% | -17.00% | Trim |
| 36 | GEV | GE Vernova Inc | -1.3% | EXIT | Sold out |
| 37 | ADI | Analog Devices Inc | -1.6% | -13.43% | Trim |
| 38 | GMED | Globus Medical Inc - A | -1.8% | +0.67% | Add |
| 39 | MU | Micron Technology, Inc. | -1.9% | EXIT | Sold out |
| 40 | TSM | Taiwan Semiconductor-sp Adr | -3% | -16.94% | Trim |
| 41 | MSFT | Microsoft CORP | -4.7% | EXIT | Sold out |
| 42 | DECK | Deckers Outdoor CORP | -4.9% | EXIT | Sold out |
| 43 | T | At&t Inc | -5.9% | EXIT | Sold out |
| 44 | TEL | TE Connectivity plc | -6.1% | EXIT | Sold out |
| 45 | NVST | Envista Holdings CORP | -6.5% | EXIT | Sold out |
| 46 | BKNG | Booking Holdings Inc | -6.6% | EXIT | Sold out |
Filing History
FAQ
What is Varenne Capital Partners and what type of investor is it?
Varenne Capital Partners 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 $603.3M, spread across 30 disclosed positions.
What are Varenne Capital Partners's largest equity positions?
Based on the latest 13F filing, Varenne Capital Partners's top holdings by market value are:
1. Broadcom Inc (AVGO) — $82.0M (13.6%)
2. Taiwan Semiconductor-sp Adr (TSM) — $73.2M (12.1%)
3. Arista Networks Inc (ANET) — $71.1M (11.8%)
4. Woodward Inc (WWD) — $36.8M (6.1%)
5. Amphenol Corp-cl A (APH) — $32.8M (5.4%)
What changes did Varenne Capital Partners make in its most recent portfolio filing?
In the latest reported quarter, Varenne Capital Partners made 45 notable position adjustments: 16 new positions were initiated, 6 existing holdings were added to, 7 positions were partially reduced, and 16 were completely exited. The largest of these moves: New buy: Woodward Inc (WWD); New buy: Nvidia CORP (NVDA); New buy: Estee Lauder Companies-cl A (EL); Sold out: Booking Holdings Inc (BKNG); Sold out: Envista Holdings CORP (NVST)
What sectors does Varenne Capital Partners focus on?
Varenne Capital Partners is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 53.8%
• Health Care: 11.7%
• Industrials: 10.7%
• Consumer Discretionary: 9.5%
• Consumer Staples: 8.3%
• Financials: 5.2%
Investment Profile
Varenne Capital Partners returned an annualized 16.7% over the trailing 36 months — underperforming the S&P 500 by 6.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.19 (more volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading, with 53.8% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 100 over the past 4 quarters — a shift toward more active trading.
It has added to its TSM position over the past two quarters (+$17.6M, now $73.2M), while trimming NIKE INC over the same stretch (-$10.1M, still holding $87.5K).
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