Lingotto Investment Management LLP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Lingotto Investment Management LLP reported 44 stock positions worth $3.8 billion. Its top holding was Carvana (CVNA) at 22.1% of the portfolio, followed by Paramount Global Class B (PARAA, 14.3%) and Teva Pharmaceutical-SP ADR (TEVA, 11.2%). Compared with Q4 2024, it opened 6 new positions, sold out of 15, added to 18 and reduced 6. The biggest buy was Harmony Gold MNG-Spon ADR (HMY, shares +1%) and the biggest sale an exit from Gatos Silver (GATO).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001732768
- Portfolio Value
- $3.8B (Q1 2025)
- SEC Filing
- 0001172661-25-002046 ↗ filed May 15, 2025
Holdings Value
Holdings 44 stocks · $3.8B
| CVNA Carvana Co. | 22.10% | 4,045,296 | $845.8M | Add +1.5% |
| PARAA Paramount Global Class B | 14.32% | 45,833,162 | $548.2M | Add +2.4% |
| TEVA Teva Pharmaceutical-SP ADR | 11.19% | 27,853,943 | $428.1M | Add +2.4% |
| HMY Harmony Gold MNG-Spon ADR | 8.16% | 21,153,214 | $312.4M | Add +1.3% |
| RRC Range Resources Corp. | 7.33% | 7,022,737 | $280.4M | Add +2.3% |
| VEON Veon Ltd. | 6.71% | 5,887,007 | $256.7M | Add +2.5% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 4.43% | 4,052,344 | $169.4M | Add +2.2% |
| GDXJ Vaneck Junior Gold Miners | 3.77% | 2,525,495 | $144.5M | Add +2.3% |
| VAL Valaris Ltd. | 3.71% | 3,617,321 | $142.0M | Reduce -0.6% |
| SBSW Sibanye-Stillwater Ltd.-ADR | 3.37% | 28,166,809 | $129.0M | Add +1.3% |
| AG First Majestic Silver Corp. | 1.70% | 9,750,519 | $65.2M | New |
| NG Novagold Resources Inc. | 1.66% | 21,722,889 | $63.4M | Add +3.9% |
| NVDA Nvidia Corp. | 1.09% | 383,660 | $41.6M | Reduce -17.3% |
| ISRG Intuitive Surgical Inc. | 0.99% | 76,357 | $37.8M | No change |
| TEM Tempus AI Inc. Class A | 0.99% | 783,859 | $37.8M | No change |
| MSFT Microsoft Corp. | 0.89% | 90,526 | $34.0M | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.80% | 185,000 | $30.7M | No change |
| MELI MercadoLibre Inc. | 0.77% | 15,014 | $29.3M | No change |
| NOW ServiceNow Inc. | 0.75% | 36,104 | $28.7M | No change |
| TSLA Tesla Inc. | 0.60% | 88,961 | $23.1M | No change |
| PCOR Procore Technologies Inc. | 0.56% | 325,000 | $21.5M | No change |
| RXRX Recursion Pharmaceuticals-A | 0.51% | 3,675,077 | $19.4M | No change |
| AUR Aurora Innovation Inc. | 0.48% | 2,750,000 | $18.5M | New |
| JOBY Joby Aviation Inc. | 0.37% | 2,338,980 | $14.1M | No change |
| PONY Pony AI Inc. | 0.35% | 1,529,892 | $13.5M | Add +27.5% |
| MRNA Moderna Inc. | 0.28% | 373,095 | $10.6M | No change |
| AMZN Amazon.com Inc. | 0.21% | 42,410 | $8.1M | No change |
| H Hyatt Hotels Corp. Class A | 0.20% | 62,877 | $7.7M | Add +78.5% |
| BN Brookfield Corp. | 0.20% | 145,645 | $7.6M | Add +7.0% |
| SRAD Sportradar Group AG-A | 0.17% | 297,980 | $6.4M | Add +96.5% |
| APG Api Group Corp. | 0.16% | 174,000 | $6.2M | Add +35.9% |
| CRH CRH PLC | 0.14% | 59,613 | $5.2M | No change |
| OSCR Oscar Health Inc. Class A | 0.13% | 379,116 | $5.0M | Add +100.4% |
| UBER Uber Technologies Inc. | 0.13% | 68,013 | $5.0M | Reduce -43.8% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.12% | 84,300 | $4.6M | New |
| CP Canadian Pacific Kansas City | 0.12% | 63,049 | $4.4M | Reduce -54.5% |
| DKNG Draftkings Inc. Class A | 0.11% | 130,067 | $4.3M | Add +72.0% |
| GOOGL Alphabet Inc. Class A | 0.11% | 26,823 | $4.1M | New |
| COF Capital One Financial Corp. | 0.08% | 16,134 | $2.9M | Add +45.4% |
| LNG Cheniere Energy Inc. | 0.07% | 12,097 | $2.8M | Reduce -62.7% |
| WSC Willscot Holdings Corp. | 0.06% | 84,806 | $2.4M | New |
| CBRE CBRE Group Inc. Class A | 0.06% | 16,337 | $2.1M | Reduce -68.7% |
| DNA Ginkgo Bioworks Holdings Inc. | 0.04% | 250,282 | $1.4M | No change |
| BHVN Biohaven Ltd. | 0.02% | 24,390 | $586K | New |
Options reported separately and not counted above: GOOGL calls ($1.9M).
Portfolio Sells Q4 2024 → Q1 2025
| GATO Gatos Silver Inc. | Sold out | 0.00% | −1.40 |
| VAL Valaris Ltd. | Reduce -0.6% | 3.71% | −0.61 |
| NVDA Nvidia Corp. | Reduce -17.3% | 1.09% | −0.58 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −0.31 |
| TLT iShares 20+ Year Treasury BD | Sold out | 0.00% | −0.26 |
| KRE SS SPDR S&P Regional Bank | Sold out | 0.00% | −0.26 |
| FNF Fidelity National Financial | Sold out | 0.00% | −0.24 |
| WMT Walmart Inc. | Sold out | 0.00% | −0.22 |
| LNTH Lantheus Holdings Inc. | Sold out | 0.00% | −0.21 |
| GDX Vaneck Gold Miners ETF | Sold out | 0.00% | −0.21 |
| GTX Garrett Motion Inc. | Sold out | 0.00% | −0.19 |
| VRT Vertiv Holdings Co. Class A | Sold out | 0.00% | −0.18 |
| CP Canadian Pacific Kansas City | Reduce -54.5% | 0.12% | −0.15 |
| CBRE CBRE Group Inc. Class A | Reduce -68.7% | 0.06% | −0.13 |
| LNG Cheniere Energy Inc. | Reduce -62.7% | 0.07% | −0.11 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.10 |
| KWEB Kranesh Csi China Internet | Sold out | 0.00% | −0.08 |
| UBER Uber Technologies Inc. | Reduce -43.8% | 0.13% | −0.07 |
| FSLR First Solar Inc. | Sold out | 0.00% | −0.06 |
| SKIL Skillsoft Corp. | Sold out | 0.00% | −0.04 |
| DM Desktop Metal Inc. Class A | Sold out | 0.00% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| HMY Harmony Gold MNG-Spon ADR | Add +1.3% | 8.16% | +3.56 |
| PARAA Paramount Global Class B | Add +2.4% | 14.32% | +1.77 |
| AG First Majestic Silver Corp. | New | 1.70% | +1.70 |
| GDXJ Vaneck Junior Gold Miners | Add +2.3% | 3.77% | +0.94 |
| SBSW Sibanye-Stillwater Ltd.-ADR | Add +1.3% | 3.37% | +0.91 |
| RRC Range Resources Corp. | Add +2.3% | 7.33% | +0.70 |
| VEON Veon Ltd. | Add +2.5% | 6.71% | +0.53 |
| AUR Aurora Innovation Inc. | New | 0.48% | +0.48 |
| CVNA Carvana Co. | Add +1.5% | 22.10% | +0.35 |
| SLB SLB Ltd. | Add +2.2% | 4.43% | +0.35 |
| TTD Trade Desk Inc./the Class A | New | 0.12% | +0.12 |
| GOOGL Alphabet Inc. Class A | New | 0.11% | +0.11 |
| SRAD Sportradar Group AG-A | Add +96.5% | 0.17% | +0.10 |
| OSCR Oscar Health Inc. Class A | Add +100.4% | 0.13% | +0.06 |
| WSC Willscot Holdings Corp. | New | 0.06% | +0.06 |
| H Hyatt Hotels Corp. Class A | Add +78.5% | 0.20% | +0.05 |
| APG Api Group Corp. | Add +35.9% | 0.16% | +0.04 |
| DKNG Draftkings Inc. Class A | Add +72.0% | 0.11% | +0.04 |
| COF Capital One Financial Corp. | Add +45.4% | 0.08% | +0.02 |
| BHVN Biohaven Ltd. | New | 0.02% | +0.02 |
| BN Brookfield Corp. | Add +7.0% | 0.20% | −0.01 |
| PONY Pony AI Inc. | Add +27.5% | 0.35% | −0.11 |
| NG Novagold Resources Inc. | Add +3.9% | 1.66% | −0.21 |
| TEVA Teva Pharmaceutical-SP ADR | Add +2.4% | 11.19% | −4.89 |
Options Activity Q4 2024 → Q1 2025
| GOOGL Alphabet Inc. Class A | call | New | 12,500 | $1.9M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 31 | $4.6B | TEVA, CVNA, MOH, PSKY, RRC |
| Q1 2026 | 34 | $5.0B | TEVA, CVNA, PSKY, VAL, NG |
| Q4 2025 | 38 | $5.7B | CVNA, TEVA, PSKY, SBSW, NG |
| Q3 2025Amended | 34 | $5.3B | CVNA, PSKY, TEVA, VEON, SBSW |
| Q2 2025 | 42 | $4.7B | CVNA, PARAA, TEVA, RRC, VEON |
| Q1 2025 | 44 | $3.8B | CVNA, PARAA, TEVA, HMY, RRC |
| Q4 2024 | 53 | $3.7B | CVNA, TEVA, PARAA, RRC, VEON |
| Q3 2024 | 46 | $3.5B | CVNA, TEVA, PARAA, HMY, RRC |
| Q2 2024 | 50 | $3.0B | CVNA, TEVA, PARAA, VAL, RRC |
| Q1 2024 | 47 | $2.4B | TEVA, CVNA, VAL, RRC, HMY |