In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Panoramic Capital, LLC reported 36 stock positions worth $129.8 million . Its top holding was Seagate Technology (STX) at 12.0% of the portfolio, followed by Nvidia (NVDA, 10.5% ) and Meta Platforms Class A (META, 7.3% ). Compared with Q1 2025, it opened 17 new positions, sold out of 11, added to 10 and reduced 9. The biggest buy was Nvidia (NVDA, shares +590% ) and the biggest sale Halozyme Therapeutics (HALO, shares −33% ).
Location LARKSPUR, CA
CIK 0001950490
Portfolio Value $129.8M (Q2 2025) Holdings 36 stocks · $129.8M 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 Q1 2025 STX Seagate Technology Holdings 108,216 $15.6M Reduce -17.7% NVDA Nvidia Corp. 86,250 $13.6M Add +590.0% META Meta Platforms Inc. Class A 12,788 $9.4M Add +1.7% AMZN Amazon.com Inc. 33,765 $7.4M Add +57.0% AFRM Affirm Holdings Inc. 77,579 $5.4M Add +411.8% FIVE Five Below 40,000 $5.2M New LITE Lumentum Holdings Inc. 50,000 $4.8M New HALO Halozyme Therapeutics Inc. 90,000 $4.7M Reduce -33.5% SNOW Snowflake Inc. 20,000 $4.5M New MRVL Marvell Technology Inc. 52,500 $4.1M New BOOT Boot Barn Holdings Inc. 25,000 $3.8M New MOD Modine Manufacturing Co. 38,569 $3.8M Add +53.4% OLED Universal Display Corp. 23,000 $3.6M New OLLI Ollie's Bargain Outlet Holdi 26,000 $3.4M Add +420.0% NFLX Netflix Inc. 2,542 $3.4M Reduce -48.0% ORCL Oracle Corp. 15,000 $3.3M New W Wayfair Inc. Class A 60,000 $3.1M New CBOE Cboe Global Markets Inc. 12,000 $2.8M New MCHP Microchip Technology Inc. 39,000 $2.7M Reduce -2.5% CRH CRH PLC 29,665 $2.7M Reduce -73.0% GFL GFL Environmental Inc.-Sub VT 52,000 $2.6M New EOG EOG Resources Inc. 20,455 $2.4M Reduce -41.4% LTH Life Time Group Holdings Inc. 77,500 $2.4M Reduce -18.4% BLND Blend Labs Inc. Class A 639,090 $2.1M Add +15.3% HUCK Huckleberry AI Inc. filed as DOMO INC 140,000 $2.0M Add +40.0% PTON Peloton Interactive Inc. Class A 270,000 $1.9M Add +42.1% TWLO Twilio Inc. Class A 15,000 $1.9M Add +50.0% MGNI Magnite Inc. 70,000 $1.7M New LULU Lululemon Athletica Inc. 7,000 $1.7M New LLY Eli Lilly & Co. 1,600 $1.2M Reduce -57.0% CRMD Cormedix Inc. 50,000 $616K New NBIS Nebius Group NV 10,000 $553K New EVLV Evolv Technologies Holdings 85,000 $530K New VPG Vishay Precision Group 15,000 $422K New PLSE Pulse Biosciences Inc. 26,361 $398K Reduce -50.0% TDUP Thredup Inc. Class A 20,000 $150K New
Options reported separately and not counted above: SMCI calls ($2.5M).
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ HALO Halozyme Therapeutics Inc. Reduce -33.5% 3.61% −7.18 UNH Unitedhealth Group Inc. Sold out 0.00% −5.24 EOG EOG Resources Inc. Reduce -41.4% 1.89% −3.71 NFLX Netflix Inc. Reduce -48.0% 2.62% −3.07 ARGX Argenx SE - ADR Sold out 0.00% −2.96 LLY Eli Lilly & Co. Reduce -57.0% 0.96% −2.88 DELL Dell Technologies -C Sold out 0.00% −2.85 SLV iShares Silver Trust Sold out 0.00% −2.71 BA The Boeing Co. Sold out 0.00% −2.67 NTNX Nutanix Inc. Class A Sold out 0.00% −2.62 STX Seagate Technology Holdings Reduce -17.7% 12.04% −1.92 LTH Life Time Group Holdings Inc. Reduce -18.4% 1.81% −1.78 OSW Onespaworld Holdings Ltd. Sold out 0.00% −1.58 RDDT Reddit Inc. Class A Sold out 0.00% −1.44 CRH CRH PLC Reduce -73.0% 2.10% −1.13 SLQT Selectquote Inc. Sold out 0.00% −1.01 PLSE Pulse Biosciences Inc. Reduce -50.0% 0.31% −0.75 ONON On Holding AG Class A Sold out 0.00% −0.55 MCHP Microchip Technology Inc. Reduce -2.5% 2.11% −0.31 AEHR Aehr Test Systems Sold out 0.00% −0.30
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ NVDA Nvidia Corp. Add +590.0% 10.50% +8.81 FIVE Five Below New 4.04% +4.04 LITE Lumentum Holdings Inc. New 3.66% +3.66 SNOW Snowflake Inc. New 3.45% +3.45 AFRM Affirm Holdings Inc. Add +411.8% 4.13% +3.28 MRVL Marvell Technology Inc. New 3.13% +3.13 BOOT Boot Barn Holdings Inc. New 2.93% +2.93 OLED Universal Display Corp. New 2.74% +2.74 ORCL Oracle Corp. New 2.53% +2.53 W Wayfair Inc. Class A New 2.36% +2.36 CBOE Cboe Global Markets Inc. New 2.16% +2.16 GFL GFL Environmental Inc.-Sub VT New 2.02% +2.02 OLLI Ollie's Bargain Outlet Holdi Add +420.0% 2.64% +1.91 MGNI Magnite Inc. New 1.30% +1.30 LULU Lululemon Athletica Inc. New 1.28% +1.28 AMZN Amazon.com Inc. Add +57.0% 5.71% +0.59 HUCK Huckleberry AI Inc. Add +40.0% 1.51% +0.54 MOD Modine Manufacturing Co. Add +53.4% 2.93% +0.52 CRMD Cormedix Inc. New 0.47% +0.47 NBIS Nebius Group NV New 0.43% +0.43 EVLV Evolv Technologies Holdings New 0.41% +0.41 VPG Vishay Precision Group New 0.32% +0.32 TWLO Twilio Inc. Class A Add +50.0% 1.44% +0.21 TDUP Thredup Inc. Class A New 0.12% +0.12 PTON Peloton Interactive Inc. Class A Add +42.1% 1.44% −0.06 BLND Blend Labs Inc. Class A Add +15.3% 1.63% −0.70 META Meta Platforms Inc. Class A Add +1.7% 7.27% −1.79
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ QQQ Invesco QQQ Trust Series 1 put Sold out 14,000 $6.6Mbefore exit SMCI Super Micro Computer Inc. call New 50,000 $2.5M
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