In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Panoramic Capital, LLC reported 30 stock positions worth $80.0 million . Its top holding was Seagate Technology (STX) at 14.0% of the portfolio, followed by Halozyme Therapeutics (HALO, 10.8% ) and Meta Platforms Class A (META, 9.1% ). Compared with Q4 2024, it opened 13 new positions, sold out of 24, added to 8 and reduced 9. The biggest buy was Seagate Technology (STX, shares +592% ) and the biggest sale an exit from Datadog Class A (DDOG).
Location LARKSPUR, CA
CIK 0001950490
Portfolio Value $80.0M (Q1 2025) Holdings 30 stocks · $80.0M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 STX Seagate Technology Holdings 131,433 $11.2M Add +591.8% HALO Halozyme Therapeutics Inc. 135,255 $8.6M Add +146.7% META Meta Platforms Inc. Class A 12,577 $7.2M Reduce -23.7% NFLX Netflix Inc. 4,885 $4.6M Reduce -44.7% EOG EOG Resources Inc. 34,910 $4.5M Add +0.6% UNH Unitedhealth Group Inc. 8,000 $4.2M New AMZN Amazon.com Inc. 21,511 $4.1M Reduce -8.0% LLY Eli Lilly & Co. 3,724 $3.1M Reduce -51.5% LTH Life Time Group Holdings Inc. 95,000 $2.9M New CRH CRH PLC 110,000 $2.6M Add +86.4% ARGX Argenx SE - ADR 4,000 $2.4M New DELL Dell Technologies -C 25,000 $2.3M Add +46.5% SLV iShares Silver Trust 70,000 $2.2M New BA The Boeing Co. 12,500 $2.1M New NTNX Nutanix Inc. Class A 30,000 $2.1M Reduce -36.4% MCHP Microchip Technology Inc. 40,000 $1.9M New MOD Modine Manufacturing Co. 25,139 $1.9M Reduce -42.4% BLND Blend Labs Inc. Class A 554,090 $1.9M Reduce -17.9% NVDA Nvidia Corp. 12,500 $1.4M Reduce -78.8% OSW Onespaworld Holdings Ltd. 75,218 $1.3M New PTON Peloton Interactive Inc. Class A 190,014 $1.2M Add +85.6% RDDT Reddit Inc. Class A 11,000 $1.2M New TWLO Twilio Inc. Class A 10,000 $979K New PLSE Pulse Biosciences Inc. 52,723 $848K Add +8.6% SLQT Selectquote Inc. 241,082 $805K Add +141.1% HUCK Huckleberry AI Inc. filed as DOMO INC 100,000 $776K New AFRM Affirm Holdings Inc. 15,158 $685K New OLLI Ollie's Bargain Outlet Holdi 5,000 $582K New ONON On Holding AG Class A filed as ON HLDG AG 10,000 $439K New AEHR Aehr Test Systems 33,455 $244K Reduce -80.0%
Options reported separately and not counted above: QQQ puts ($6.6M).
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ DDOG Datadog Inc. Class A Sold out 0.00% −4.69 NVDA Nvidia Corp. Reduce -78.8% 1.69% −4.59 FIVE Five Below Sold out 0.00% −4.46 SMTC Semtech Corp. Sold out 0.00% −4.16 MSFT Microsoft Corp. Sold out 0.00% −3.70 FBTC Fidelity Wise Origin Bitcoin Sold out 0.00% −3.14 WGS Genedx Holdings Corp. Sold out 0.00% −3.14 TER Teradyne Inc. Sold out 0.00% −2.50 AVGO Broadcom Inc. Sold out 0.00% −2.49 AEHR Aehr Test Systems Reduce -80.0% 0.30% −1.91 S Sentinelone Inc. Class A Sold out 0.00% −1.76 HUT Hut 8 Corp. Sold out 0.00% −1.75 THO Thor Industries Inc. Sold out 0.00% −1.71 MOD Modine Manufacturing Co. Reduce -42.4% 2.41% −1.61 NBIS Nebius Group NV Sold out 0.00% −1.54 SMWB Similarweb Ltd. Sold out 0.00% −1.41 CDNA Caredx Inc. Sold out 0.00% −1.33 CORZ Core Scientific Inc. Sold out 0.00% −1.31 VST Vistra Corp. Sold out 0.00% −1.10 TLN Talen Energy Corp. Sold out 0.00% −1.09 SG Sweetgreen Inc. Class A Sold out 0.00% −1.01 NCMI National Cinemedia Inc. Sold out 0.00% −0.99 BURL Burlington Stores Inc. Sold out 0.00% −0.90 LLY Eli Lilly & Co. Reduce -51.5% 3.85% −0.87 RXST Rxsight Inc. Sold out 0.00% −0.61 NFLX Netflix Inc. Reduce -44.7% 5.70% −0.57 GRAL Grail Inc. Sold out 0.00% −0.39 SPRY Ars Pharmaceuticals Inc. Sold out 0.00% −0.38 LSCC Lattice Semiconductor Corp. Sold out 0.00% −0.26 BLND Blend Labs Inc. Class A Reduce -17.9% 2.32% +0.06 NTNX Nutanix Inc. Class A Reduce -36.4% 2.62% +0.32 AMZN Amazon.com Inc. Reduce -8.0% 5.12% +1.04 META Meta Platforms Inc. Class A Reduce -23.7% 9.06% +1.39
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ STX Seagate Technology Holdings Add +591.8% 13.96% +12.66 HALO Halozyme Therapeutics Inc. Add +146.7% 10.79% +8.71 UNH Unitedhealth Group Inc. New 5.24% +5.24 LTH Life Time Group Holdings Inc. New 3.59% +3.59 ARGX Argenx SE - ADR New 2.96% +2.96 SLV iShares Silver Trust New 2.71% +2.71 BA The Boeing Co. New 2.67% +2.67 MCHP Microchip Technology Inc. New 2.42% +2.42 EOG EOG Resources Inc. Add +0.6% 5.60% +2.21 OSW Onespaworld Holdings Ltd. New 1.58% +1.58 RDDT Reddit Inc. Class A New 1.44% +1.44 DELL Dell Technologies -C Add +46.5% 2.85% +1.29 TWLO Twilio Inc. Class A New 1.22% +1.22 HUCK Huckleberry AI Inc. New 0.97% +0.97 AFRM Affirm Holdings Inc. New 0.86% +0.86 PTON Peloton Interactive Inc. Class A Add +85.6% 1.50% +0.79 OLLI Ollie's Bargain Outlet Holdi New 0.73% +0.73 SLQT Selectquote Inc. Add +141.1% 1.01% +0.71 ONON On Holding AG Class A New 0.55% +0.55 PLSE Pulse Biosciences Inc. Add +8.6% 1.06% +0.39 CRH CRH PLC Add +86.4% 3.22% −1.12
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Sold out 36,000 $21.1Mbefore exit QQQ Invesco QQQ Trust Series 1 put Reduce -82.5% 14,000 $6.6M
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 43 $232.4M STX, ATEX, NVDA, MU, HNGE Q1 2026 38 $142.4M STX, LITE, FIVE, HALO, AMZN Q4 2025 37 $174.7M LITE, NVDA, STX, W, FIVE Q3 2025 42 $157.8M STX, META, FSLR, FIVE, MOD Q2 2025 36 $129.8M STX, NVDA, META, AMZN, AFRM Q1 2025 30 $80.0M STX, HALO, META, NFLX, EOG Q4 2024 41 $125.7M META, NVDA, NFLX, LLY, DDOG