Nishkama Capital, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Nishkama Capital, LLC reported 41 stock positions worth $610.5 million. Its top holding was Reddit Class A (RDDT) at 7.9% of the portfolio, followed by Vistra (VST, 7.8%) and Microsoft (MSFT, 6.3%). Compared with Q1 2025, it opened 27 new positions, sold out of 16, added to 6 and reduced 8. The biggest buy was a new position in Reddit Class A (RDDT) and the biggest sale Talen Energy (TLN, shares −79%).

Most Recent 13F
Q2 2026
Location
DORADO, PR
CIK
0001633799
Portfolio Value
$610.5M (Q2 2025)
SEC Filing
0001633799-25-000011 ↗ filed Aug 14, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $878.2M Q1 2024 Q2 2024: $669.1M Q2 2024 Q3 2024: $648.5M Q3 2024 Q4 2024: $612.0M Q4 2024 Q1 2025: $238.5M Q1 2025 Q2 2025: $610.5M $610.5M Q2 2025 Q3 2025: $1.1B Q3 2025 Q4 2025: $739.8M Q4 2025 Q1 2026: $702.9M Q1 2026 Q2 2026: $886.2M Q2 2026

Holdings 41 stocks · $610.5M
RDDT Reddit Inc. Class A 7.90% 320,354 $48.2M New
VST Vistra Corp. 7.79% 245,424 $47.6M New
MSFT Microsoft Corp. 6.28% 77,038 $38.3M New
NVDA Nvidia Corp. 6.25% 241,449 $38.1M New
CELH Celsius Holdings Inc. 5.90% 776,928 $36.0M New
DDOG Datadog Inc. Class A 4.77% 216,600 $29.1M New
TSM Taiwan Semiconductor-SP ADR 3.76% 101,388 $23.0M Add +266.0%
COIN Coinbase Global Inc. Class A 3.19% 55,620 $19.5M New
AMZN Amazon.com Inc. 3.16% 87,860 $19.3M New
LVS Las Vegas Sands Corp. 3.15% 441,600 $19.2M New
HOOD Robinhood Markets Inc. Class A 3.10% 201,850 $18.9M New
CHWY Chewy Inc. Class A 3.04% 435,655 $18.6M Add +110.6%
CVNA Carvana Co. 3.01% 54,600 $18.4M Reduce -20.3%
U Unity Software Inc. 2.98% 750,854 $18.2M Add +253.1%
APP AppLovin Corp. Class A 2.89% 50,426 $17.7M Reduce -30.7%
PRIM Primoris Services Corp. 2.73% 214,149 $16.7M Add +23.2%
CART Maplebear Inc. 2.59% 348,924 $15.8M Add +36.3%
CEG Constellation Energy 2.54% 48,000 $15.5M New
ANET Arista Networks Inc. 2.37% 141,157 $14.4M New
FIVN FIVE9 Inc. 2.27% 522,211 $13.8M New
ESTC Elastic NV 2.12% 153,648 $13.0M Add +346.7%
AFRM Affirm Holdings Inc. 2.02% 178,003 $12.3M New
TLN Talen Energy Corp. 1.64% 34,508 $10.0M Reduce -78.6%
META Meta Platforms Inc. Class A 1.64% 13,578 $10.0M New
LITE Lumentum Holdings Inc. 1.63% 104,800 $10.0M New
CRM Salesforce Inc. 1.55% 34,700 $9.5M Reduce -27.9%
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 1.46% 504,117 $8.9M New
CMG Chipotle Mexican Grill Inc. 1.18% 128,200 $7.2M Reduce -12.2%
ENVX Enovix Corp. 0.92% 543,264 $5.6M Reduce -11.1%
ORCL Oracle Corp. 0.90% 25,185 $5.5M New
BE Bloom Energy Corp. Class A 0.78% 200,000 $4.8M New
UPST Upstart Holdings Inc. 0.76% 72,000 $4.7M New
LULU Lululemon Athletica Inc. 0.69% 17,800 $4.2M New
NOK Nokia Corp.-Spon ADR 0.59% 700,000 $3.6M New
WRBY Warby Parker Inc. Class A 0.56% 155,062 $3.4M New
PTON Peloton Interactive Inc. Class A 0.54% 479,100 $3.3M New
TSEM Tower Semiconductor Ltd. 0.53% 74,700 $3.2M New
QQQ Invesco QQQ Trust Series 1 0.27% 2,945 $1.6M New
IWM iShares Russell 2000 ETF 0.25% 6,987 $1.5M New
IMAX Imax Corp. 0.23% 50,000 $1.4M Reduce -60.9%
RKT Rocket Cos Inc. Class A 0.07% 28,381 $402K Reduce -82.7%

Options reported separately and not counted above: SPY puts ($542.0M), CMG calls ($224.6M), IWM puts ($171.9M), AMZN calls ($133.3M), NVDA calls ($119.8M), MSFT calls ($111.4M), QQQ puts ($107.8M), GOOGL calls ($69.6M), MA puts ($62.7M), RDDT calls ($58.7M), LVS calls ($55.6M), V puts ($53.3M), and 14 more.

Portfolio Sells Q1 2025 → Q2 2025
TLN Talen Energy Corp. Reduce -78.6% 1.64% −11.88
WDC Western Digital Corp. Sold out 0.00% −9.94
ETR Entergy Corp. Sold out 0.00% −8.11
APP AppLovin Corp. Class A Reduce -30.7% 2.89% −5.20
FN Fabrinet Sold out 0.00% −4.03
CRM Salesforce Inc. Reduce -27.9% 1.55% −3.86
CVNA Carvana Co. Reduce -20.3% 3.01% −2.99
FROG Jfrog Ltd. Sold out 0.00% −2.75
MBLY Mobileye Global Inc. Class A Sold out 0.00% −2.74
SPOT Spotify Technology SA Sold out 0.00% −2.40
STX Seagate Technology Holdings Sold out 0.00% −1.99
QCOM Qualcomm Inc. Sold out 0.00% −1.99
CMG Chipotle Mexican Grill Inc. Reduce -12.2% 1.18% −1.90
ADBE Adobe Inc. Sold out 0.00% −1.86
SNOW Snowflake Inc. Sold out 0.00% −1.82
SIMO Silicon Motion Technol-ADR Sold out 0.00% −1.73
HUT Hut 8 Corp. Sold out 0.00% −1.32
CFLT Confluent Inc. Class A Sold out 0.00% −1.21
IMAX Imax Corp. Reduce -60.9% 0.23% −1.19
ENVX Enovix Corp. Reduce -11.1% 0.92% −0.96
UWMC Uwm Holdings Corp. Sold out 0.00% −0.86
RKT Rocket Cos Inc. Class A Reduce -82.7% 0.07% −0.76
BLND Blend Labs Inc. Class A Sold out 0.00% −0.73
RGTI Rigetti Computing Inc. Sold out 0.00% −0.05

Portfolio Buys Q1 2025 → Q2 2025
RDDT Reddit Inc. Class A New 7.90% +7.90
VST Vistra Corp. New 7.79% +7.79
MSFT Microsoft Corp. New 6.28% +6.28
NVDA Nvidia Corp. New 6.25% +6.25
CELH Celsius Holdings Inc. New 5.90% +5.90
DDOG Datadog Inc. Class A New 4.77% +4.77
COIN Coinbase Global Inc. Class A New 3.19% +3.19
AMZN Amazon.com Inc. New 3.16% +3.16
LVS Las Vegas Sands Corp. New 3.15% +3.15
HOOD Robinhood Markets Inc. Class A New 3.10% +3.10
CEG Constellation Energy New 2.54% +2.54
ANET Arista Networks Inc. New 2.37% +2.37
FIVN FIVE9 Inc. New 2.27% +2.27
AFRM Affirm Holdings Inc. New 2.02% +2.02
TSM Taiwan Semiconductor-SP ADR Add +266.0% 3.76% +1.83
META Meta Platforms Inc. Class A New 1.64% +1.64
LITE Lumentum Holdings Inc. New 1.63% +1.63
BEKE Ke Holdings Inc.-ADR New 1.46% +1.46
U Unity Software Inc. Add +253.1% 2.98% +1.23
ORCL Oracle Corp. New 0.90% +0.90
ESTC Elastic NV Add +346.7% 2.12% +0.84
BE Bloom Energy Corp. Class A New 0.78% +0.78
UPST Upstart Holdings Inc. New 0.76% +0.76
LULU Lululemon Athletica Inc. New 0.69% +0.69
NOK Nokia Corp.-Spon ADR New 0.59% +0.59
WRBY Warby Parker Inc. Class A New 0.56% +0.56
PTON Peloton Interactive Inc. Class A New 0.54% +0.54
TSEM Tower Semiconductor Ltd. New 0.53% +0.53
QQQ Invesco QQQ Trust Series 1 New 0.27% +0.27
IWM iShares Russell 2000 ETF New 0.25% +0.25
CHWY Chewy Inc. Class A Add +110.6% 3.04% +0.22
PRIM Primoris Services Corp. Add +23.2% 2.73% −1.45
CART Maplebear Inc. Add +36.3% 2.59% −1.70

Options Activity Q1 2025 → Q2 2025
SPY SS SPDR S&P 500 ETF Trust-US put Add +270.8% 877,300 $542.0M
CMG Chipotle Mexican Grill Inc. call New 4,000,700 $224.6M
IWM iShares Russell 2000 ETF put Add +408.6% 796,500 $171.9M
AMZN Amazon.com Inc. call New 607,500 $133.3M
NVDA Nvidia Corp. call New 758,500 $119.8M
MSFT Microsoft Corp. call New 224,000 $111.4M
QQQ Invesco QQQ Trust Series 1 put New 195,500 $107.8M
TSM Taiwan Semiconductor-SP ADR call Sold out 520,000 $86.3Mbefore exit
WMT Walmart Inc. put Sold out 900,000 $79.0Mbefore exit
GOOGL Alphabet Inc. Class A call New 395,000 $69.6M
MA Mastercard Inc. Class A put Add +209.7% 111,500 $62.7M
ADBE Adobe Inc. call Sold out 161,100 $61.8Mbefore exit
RDDT Reddit Inc. Class A call New 390,000 $58.7M
COST Costco Wholesale Corp. put Sold out 60,000 $56.7Mbefore exit
LVS Las Vegas Sands Corp. call New 1,277,100 $55.6M
V Visa Inc. Class A put Add +134.4% 150,000 $53.3M
META Meta Platforms Inc. Class A call New 63,200 $46.6M
C Citigroup Inc. call New 540,000 $46.0M
COIN Coinbase Global Inc. Class A call New 120,400 $42.2M
LMND Lemonade Inc. call New 955,500 $41.9M
COF Capital One Financial Corp. call New 195,000 $41.5M
ANET Arista Networks Inc. put Sold out 499,600 $38.7Mbefore exit
TGT Target Corp. call Sold out 360,000 $37.6Mbefore exit
DDOG Datadog Inc. Class A call New 268,500 $36.1M
PAYX Paychex Inc. put Sold out 222,300 $34.3Mbefore exit
U Unity Software Inc. call New 1,330,500 $32.2M
HOOD Robinhood Markets Inc. Class A call New 337,000 $31.6M
ET Energy Transfer LP call Sold out 1,676,300 $31.2Mbefore exit
CELH Celsius Holdings Inc. call New 662,000 $30.7M
EEM iShares MSCI Emerging Market call New 501,000 $24.2M
XLF SS Financial Select Sector call New 435,000 $22.8M
INTC Intel Corp. call Sold out 750,000 $17.0Mbefore exit
META Meta Platforms Inc. Class A put Sold out 23,800 $13.7Mbefore exit
GTLB Gitlab Inc. Class A call New 286,200 $12.9M
AMZN Amazon.com Inc. put Sold out 63,500 $12.1Mbefore exit
CZR Caesars Entertainment Inc. call Sold out 380,000 $9.5Mbefore exit
DASH DoorDash Inc. Class A put Sold out 40,000 $7.3Mbefore exit
CORZ Core Scientific Inc. call New 367,000 $6.3M
URBN Urban Outfitters Inc. call Sold out 100,000 $5.2Mbefore exit
COIN Coinbase Global Inc. Class A put New 8,800 $3.1M
WULF Terawulf Inc. call Sold out 500,000 $1.4Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 34$886.2MEQIX, AMD, STX, VRSN, INTC
Q1 2026 39$702.9MEQIX, AMZN, WMB, ASML, STM
Q4 2025 49$739.8MAMZN, NVDA, FIGR, EPAM, TSM
Q3 2025 69$1.1BBE, AAPL, HPE, APP, AMZN
Q2 2025 41$610.5MRDDT, VST, MSFT, NVDA, CELH
Q1 2025 30$238.5MTLN, WDC, ETR, APP, CVNA
Q4 2024 49$612.0MCRM, AMZN, CHWY, BEKE, SBUX
Q3 2024 75$648.5MAAPL, MCD, SPOT, CEG, W
Q2 2024 53$669.1MAAPL, STX, WDC, SPOT, AMZN
Q1 2024 84$878.2MPINS, AMZN, HUBS, TGT, AAPL