In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Nishkama Capital, LLC reported 30 stock positions worth $238.5 million . Its top holding was Talen Energy (TLN) at 13.5% of the portfolio, followed by Western Digital (WDC, 9.9% ) and Entergy (ETR, 8.1% ). Compared with Q4 2024, it opened 16 new positions, sold out of 35, added to 5 and reduced 9. The biggest buy was a new position in Talen Energy (TLN) and the biggest sale Salesforce (CRM, shares −80% ).
Location DORADO, PR
CIK 0001633799
Portfolio Value $238.5M (Q1 2025) Holdings 30 stocks · $238.5M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 TLN Talen Energy Corp. 161,483 $32.2M New WDC Western Digital Corp. 586,129 $23.7M Add +682.6% ETR Entergy Corp. 226,333 $19.3M New APP AppLovin Corp. Class A 72,799 $19.3M Add +54.3% CVNA Carvana Co. 68,475 $14.3M Reduce -13.8% CRM Salesforce Inc. 48,092 $12.9M Reduce -80.3% CART Maplebear Inc. 256,000 $10.2M Reduce -19.9% PRIM Primoris Services Corp. 173,775 $10.0M Add +205.5% FN Fabrinet 48,618 $9.6M New CMG Chipotle Mexican Grill Inc. 146,000 $7.3M New CHWY Chewy Inc. Class A 206,859 $6.7M Reduce -82.2% FROG Jfrog Ltd. 205,024 $6.6M New MBLY Mobileye Global Inc. Class A 453,307 $6.5M New SPOT Spotify Technology SA 10,402 $5.7M Reduce -26.9% STX Seagate Technology Holdings 55,967 $4.8M New QCOM Qualcomm Inc. 30,889 $4.7M New TSM Taiwan Semiconductor-SP ADR 27,700 $4.6M Reduce -64.0% ENVX Enovix Corp. 610,997 $4.5M Add +132.0% ADBE Adobe Inc. 11,568 $4.4M New SNOW Snowflake Inc. 29,635 $4.3M New U Unity Software Inc. 212,621 $4.2M New SIMO Silicon Motion Technol-ADR 81,404 $4.1M Add +121.1% IMAX Imax Corp. 127,961 $3.4M Reduce -39.1% HUT Hut 8 Corp. 270,072 $3.1M Reduce -50.9% ESTC Elastic NV 34,396 $3.1M Reduce -62.6% CFLT Confluent Inc. Class A 123,418 $2.9M New UWMC Uwm Holdings Corp. 374,053 $2.0M New RKT Rocket Cos Inc. Class A 163,598 $2.0M New BLND Blend Labs Inc. Class A 522,973 $1.8M New RGTI Rigetti Computing Inc. 16,134 $128K New
Options reported separately and not counted above: SPY puts ($132.4M), TSM calls ($86.3M), WMT puts ($79.0M), ADBE calls ($61.8M), COST puts ($56.7M), ANET puts ($38.7M), TGT calls ($37.6M), PAYX puts ($34.3M), IWM puts ($31.2M), ET calls ($31.2M), V puts ($22.4M), MA puts ($19.7M), and 7 more.
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ CRM Salesforce Inc. Reduce -80.3% 5.41% −7.95 AMZN Amazon.com Inc. Sold out 0.00% −7.70 BEKE Ke Holdings Inc.-ADR Sold out 0.00% −4.25 SBUX Starbucks Corp. Sold out 0.00% −3.65 ULTA Ulta Beauty Inc. Sold out 0.00% −3.64 CHWY Chewy Inc. Class A Reduce -82.2% 2.82% −3.54 FUN Six Flags Entertainment Corp. Sold out 0.00% −3.28 XYZ Block Inc. Sold out 0.00% −3.21 BBWI Bath & Body Works Inc. Sold out 0.00% −3.00 MCD McDonald's Corp. Sold out 0.00% −2.92 NFLX Netflix Inc. Sold out 0.00% −2.91 LVS Las Vegas Sands Corp. Sold out 0.00% −2.84 CEG Constellation Energy Sold out 0.00% −2.26 ACI Albertsons Cos Inc. Class A Sold out 0.00% −2.24 UBER Uber Technologies Inc. Sold out 0.00% −2.16 MTN Vail Resorts Inc. Sold out 0.00% −1.63 CACC Credit Acceptance Corp. Sold out 0.00% −1.50 MNST Monster Beverage Corp. Sold out 0.00% −1.49 KMI Kinder Morgan Inc. Sold out 0.00% −1.49 AVGO Broadcom Inc. Sold out 0.00% −1.44 LSPD Lightspeed Commerce Inc. Sold out 0.00% −1.36 LITE Lumentum Holdings Inc. Sold out 0.00% −1.22 GTM Zoominfo Technologies Inc. Sold out 0.00% −0.90 FRSH Freshworks Inc. Class A Sold out 0.00% −0.82 DDOG Datadog Inc. Class A Sold out 0.00% −0.78 LW Lamb Weston Holdings Inc. Sold out 0.00% −0.75 DRI Darden Restaurants Inc. Sold out 0.00% −0.72 ANF Abercrombie & Fitch Co. Class A Sold out 0.00% −0.72 DASH DoorDash Inc. Class A Sold out 0.00% −0.71 COIN Coinbase Global Inc. Class A Sold out 0.00% −0.57 TSM Taiwan Semiconductor-SP ADR Reduce -64.0% 1.93% −0.55 HUT Hut 8 Corp. Reduce -50.9% 1.32% −0.53 WRBY Warby Parker Inc. Class A Sold out 0.00% −0.50 MXL Maxlinear Inc. Sold out 0.00% −0.50 FSLY Fastly Inc. Class A Sold out 0.00% −0.47 BTDR Bitdeer Technologies Group-A Sold out 0.00% −0.38 TSEM Tower Semiconductor Ltd. Sold out 0.00% −0.38 AIOT Powerfleet Inc. Sold out 0.00% −0.33 CMRC Commerce.com Inc. Sold out 0.00% −0.30 ESTC Elastic NV Reduce -62.6% 1.29% −0.20 IMAX Imax Corp. Reduce -39.1% 1.41% +0.53 SPOT Spotify Technology SA Reduce -26.9% 2.40% +1.36 CART Maplebear Inc. Reduce -19.9% 4.28% +2.12 CVNA Carvana Co. Reduce -13.8% 6.00% +3.37
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ TLN Talen Energy Corp. New 13.52% +13.52 WDC Western Digital Corp. Add +682.6% 9.94% +9.21 ETR Entergy Corp. New 8.11% +8.11 APP AppLovin Corp. Class A Add +54.3% 8.09% +5.59 FN Fabrinet New 4.03% +4.03 PRIM Primoris Services Corp. Add +205.5% 4.18% +3.47 CMG Chipotle Mexican Grill Inc. New 3.07% +3.07 FROG Jfrog Ltd. New 2.75% +2.75 MBLY Mobileye Global Inc. Class A New 2.74% +2.74 STX Seagate Technology Holdings New 1.99% +1.99 QCOM Qualcomm Inc. New 1.99% +1.99 ADBE Adobe Inc. New 1.86% +1.86 SNOW Snowflake Inc. New 1.82% +1.82 U Unity Software Inc. New 1.75% +1.75 ENVX Enovix Corp. Add +132.0% 1.88% +1.41 SIMO Silicon Motion Technol-ADR Add +121.1% 1.73% +1.40 CFLT Confluent Inc. Class A New 1.21% +1.21 UWMC Uwm Holdings Corp. New 0.86% +0.86 RKT Rocket Cos Inc. Class A New 0.83% +0.83 BLND Blend Labs Inc. Class A New 0.73% +0.73 RGTI Rigetti Computing Inc. New 0.05% +0.05
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ QQQ Invesco QQQ Trust Series 1 put Sold out 282,400 $144.4Mbefore exit SPY SS SPDR S&P 500 ETF Trust-US put Reduce -65.2% 236,600 $132.4M TSM Taiwan Semiconductor-SP ADR call New 520,000 $86.3M GOOGL Alphabet Inc. Class A put Sold out 437,000 $82.7Mbefore exit WMT Walmart Inc. put New 900,000 $79.0M MTN Vail Resorts Inc. call Sold out 400,000 $75.0Mbefore exit ADBE Adobe Inc. call New 161,100 $61.8M COST Costco Wholesale Corp. put New 60,000 $56.7M ANET Arista Networks Inc. put New 499,600 $38.7M TGT Target Corp. call New 360,000 $37.6M PAYX Paychex Inc. put New 222,300 $34.3M IWM iShares Russell 2000 ETF put New 156,600 $31.2M ET Energy Transfer LP call Reduce -39.0% 1,676,300 $31.2M V Visa Inc. Class A put New 64,000 $22.4M MA Mastercard Inc. Class A put New 36,000 $19.7M BEKE Ke Holdings Inc.-ADR call Sold out 1,000,000 $18.4Mbefore exit MSTR Strategy Inc. put Sold out 60,000 $17.4Mbefore exit INTC Intel Corp. call New 750,000 $17.0M META Meta Platforms Inc. Class A put Reduce -80.6% 23,800 $13.7M AMZN Amazon.com Inc. put New 63,500 $12.1M CZR Caesars Entertainment Inc. call New 380,000 $9.5M DASH DoorDash Inc. Class A put New 40,000 $7.3M TOST Toast Inc. Class A put Sold out 155,000 $5.6Mbefore exit URBN Urban Outfitters Inc. call New 100,000 $5.2M APPS Digital Turbine Inc. call Sold out 1,108,900 $1.9Mbefore exit WULF Terawulf Inc. call New 500,000 $1.4M
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 34 $886.2M EQIX, AMD, STX, VRSN, INTC Q1 2026 39 $702.9M EQIX, AMZN, WMB, ASML, STM Q4 2025 49 $739.8M AMZN, NVDA, FIGR, EPAM, TSM Q3 2025 69 $1.1B BE, AAPL, HPE, APP, AMZN Q2 2025 41 $610.5M RDDT, VST, MSFT, NVDA, CELH Q1 2025 30 $238.5M TLN, WDC, ETR, APP, CVNA Q4 2024 49 $612.0M CRM, AMZN, CHWY, BEKE, SBUX Q3 2024 75 $648.5M AAPL, MCD, SPOT, CEG, W Q2 2024 53 $669.1M AAPL, STX, WDC, SPOT, AMZN Q1 2024 84 $878.2M PINS, AMZN, HUBS, TGT, AAPL