VC
VY Capital Management Co. Ltd. 13F Filing (Q2 2026) — Top Positions & Stock Picks
VY Capital Management Co. Ltd.CIK: 0001628622
High-turnover traderConcentrated strategySector-focused
Total reported value
$47.0B
Reporting period: 2026-06-30 · Number of holdings: 6
VY Capital Management Co. Ltd. disclosed 6 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $47.0B and a quarterly turnover rate of 200.0%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 100
- Momentum
- 0
- Sector conviction
- 100
- Diversification
- 12
- Sizing Uniformity
- 75.82
VY Capital Management Co. Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.979 — mathematically equivalent to about 1 equally-sized positions, well below its 6 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 2.42), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward initiating meaningfully larger new positions than it adds to existing ones (a 20.0 percentage-point tilt) — a pattern consistent with a more contrarian, new-idea-driven approach.
Sector classification currently covers about 0% 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim RDDT
-$474.0M
New buy 84615Q103
New buy 15675D103
New buy TONX
New buy MSTR
New buy BTGO
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
VY Capital executed a near-total portfolio reconstruction this quarter, fully liquidating RDDT (from 100% weight to zero) and concentrating 98.91% of assets into a new single position (84615Q103), with four additional small new buys rounding out the book. The combination of maximal concentration (HHI 0.9785) and near-complete turnover signals a clean-slate repositioning rather than incremental trimming.
Macro & Fundamentals
The sector allocation, with roughly 96.6% in Information Technology and 3.4% in Communication Services, suggests the manager is doubling down on tech exposure consistent with a broader institutional bias toward AI-infrastructure and software names. However, this is an inference from position data alone — the filing contains no information on the macro rationale, and the absence of any intermediate-size positions precludes reading this as a barbell or hedging strategy.
Blind Spots / Risks
The evident vulnerability is path-dependent liquidity risk: with ~99% of the portfolio in one name, any adverse idiosyncratic event — an earnings miss, regulatory surprise, or a crowding-driven unwind among peers holding the same position — could produce outsized drawdowns that diversification cannot cushion. Furthermore, the coefficient of variation of 2.42 underscores extreme weight dispersion, meaning the portfolio's realized volatility is almost entirely a function of this single holding's price action.
This overview is machine-generated from this institution's regulatory filings on SEC EDGAR and describes past disclosures only — it does not constitute financial advice. View the original 2026-06-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ✓ | Stock-Other | 98.91% | +98.91% | NEW | ||
| 2 | ✓ | Stock-Other | 1.01% | +1.01% | NEW | ||
| 3 | TONX | Ton Strategy Co | Stock-Other | 0.03% | +0.03% | NEW | |
| 4 | MSTR | Strategy Inc | Stock-Tech | 0.03% | +0.03% | NEW | |
| 5 | BTGO | Bitgo Holdings Inc-cl A | Stock-Other | 0.01% | +0.01% | NEW | |
| 6 | RDDT | Reddit Inc-cl A | Stock-Comm Services | — | -100.00% | — |
Portfolio Performance
Performance for Q3 2026
-13.1%
Performance Last 4 Quarters
-32%
- Stdev
- +65.4%
- Beta
- +2.39
- Alpha
- -12.6%
- Max Drawdown
- -47.4%
- Annualized Perf
- +4.9%
- Batting Avg vs S&P
- +47.6%
- Sortino
- +0.62
- Stutzer
- +0.11
- Treynor
- +0.11
- Sterling
- +0.1
- Calmar
- +0.1
- Information Ratio
- +0.16
- Tracking Error
- +60.5%
- Stdev Down
- +41%
- Winning Months %
- +57.1%
- Losing Months %
- +42.9%
- Best 12 Months
- +56.7%
- Worst 12 Months
- -32%
- Efficiency Ratio
- +0.03
- Sharpe
- +0.39
- Stdev Sectors
- +46.6%
- Skewness
- +0.07
- Kurtosis
- -0.4
- Upside Potential
- +2.51
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
VY Capital Management Co. Ltd.'s most significant position changes for 2026-06-30: New buy: ; New buy: ; New buy: Ton Strategy Co (TONX); New buy: Strategy Inc (MSTR); New buy: Bitgo Holdings Inc-cl A (BTGO).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | +98.9% | NEW | New buy | |
| 2 | ✓ | +1% | NEW | New buy | |
| 3 | TONX | Ton Strategy Co | 0% | NEW | New buy |
| 4 | MSTR | Strategy Inc | 0% | NEW | New buy |
| 5 | BTGO | Bitgo Holdings Inc-cl A | 0% | NEW | New buy |
| 6 | RDDT | Reddit Inc-cl A | -100% | — | Trim |
Filing History
FAQ
What is VY Capital Management Co. Ltd. and what type of investor is it?
VY Capital Management Co. Ltd. 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 $47.0B, spread across 6 disclosed positions.
What are VY Capital Management Co. Ltd.'s largest equity positions?
Based on the latest 13F filing, VY Capital Management Co. Ltd.'s top holdings by market value are:
1. — $46.4B (98.9%)
2. — $474.4M (1.0%)
3. Ton Strategy Co (TONX) — $15.6M (0.0%)
4. Strategy Inc (MSTR) — $12.2M (0.0%)
5. Bitgo Holdings Inc-cl A (BTGO) — $6.9M (0.0%)
What changes did VY Capital Management Co. Ltd. make in its most recent portfolio filing?
In the latest reported quarter, VY Capital Management Co. Ltd. made 6 notable position adjustments: 5 new positions were initiated, 0 existing holdings were added to, 1 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: ; New buy: ; New buy: Ton Strategy Co (TONX); New buy: Strategy Inc (MSTR); New buy: Bitgo Holdings Inc-cl A (BTGO)
What sectors does VY Capital Management Co. Ltd. focus on?
VY Capital Management Co. Ltd. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 96.6%
• Communication Services: 3.4%
Investment Profile
VY Capital Management Co. Ltd. returned an annualized 4.9% over the trailing 21 months — underperforming the S&P 500 by 12.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 2.39 (more volatile than the market) and a 48% quarterly batting average against the index.
Its portfolio is concentrated and fast-trading, with 96.6% of the portfolio concentrated in Information Technology.
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