Tenere Capital LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Tenere Capital LLC reported 21 stock positions worth $424.0 million. Its top holding was Visa Class A (V) at 8.1% of the portfolio, followed by Amazon.com (AMZN, 7.9%) and Blackstone (BX, 7.7%). Compared with Q2 2025, it opened 4 new positions, sold out of 2, added to 12 and reduced 5. The biggest buy was a new position in Netflix (NFLX) and the biggest sale an exit from Analog Devices (ADI).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001849517
- Portfolio Value
- $424.0M (Q3 2025)
- SEC Filing
- 0001849517-25-000014 ↗ filed Nov 14, 2025
Holdings Value
Holdings 21 stocks · $424.0M
| V Visa Inc. Class A | 8.13% | 100,969 | $34.5M | Add +78.1% |
| AMZN Amazon.com Inc. | 7.92% | 152,864 | $33.6M | Add +42.1% |
| BX Blackstone Inc. | 7.75% | 192,269 | $32.8M | Add +1.1% |
| MSFT Microsoft Corp. | 7.54% | 61,762 | $32.0M | Reduce -17.2% |
| NVDA Nvidia Corp. | 6.57% | 149,404 | $27.9M | Reduce -15.3% |
| META Meta Platforms Inc. Class A | 6.15% | 35,507 | $26.1M | Reduce -31.7% |
| GS Goldman Sachs Group Inc. | 6.10% | 32,497 | $25.9M | Add +31.7% |
| BLK BlackRock Inc. | 5.83% | 21,211 | $24.7M | Add +1.1% |
| NFLX Netflix Inc. | 5.64% | 19,946 | $23.9M | New |
| UBER Uber Technologies Inc. | 4.48% | 193,690 | $19.0M | Add +14.9% |
| NOW ServiceNow Inc. | 4.30% | 19,801 | $18.2M | Add +12.5% |
| AAPL Apple Inc. | 4.07% | 67,700 | $17.2M | Add +4.5% |
| DHR Danaher Corp. | 4.05% | 86,628 | $17.2M | Reduce -10.8% |
| NSC Norfolk Southern Corp. | 4.00% | 56,398 | $16.9M | Add +1.1% |
| EQIX Equinix Inc. | 3.77% | 20,430 | $16.0M | Add +1.1% |
| NKE Nike Inc. Class B | 3.53% | 214,690 | $15.0M | Add +23.3% |
| HUBB Hubbell Inc. | 2.89% | 28,469 | $12.3M | New |
| ADSK Autodesk Inc. | 2.41% | 32,163 | $10.2M | Reduce -49.4% |
| COIN Coinbase Global Inc. Class A | 2.34% | 29,400 | $9.9M | New |
| CCI Crown Castle Inc. | 2.04% | 89,511 | $8.6M | Add +1.1% |
| KLAR Klarna Group PLC | 0.50% | 57,984 | $2.1M | New |
Portfolio Sells Q2 2025 → Q3 2025
| ADI Analog Devices Inc. | Sold out | 0.00% | −6.28 |
| META Meta Platforms Inc. Class A | Reduce -31.7% | 6.15% | −3.68 |
| HD Home Depot Inc. | Sold out | 0.00% | −3.38 |
| ADSK Autodesk Inc. | Reduce -49.4% | 2.41% | −2.63 |
| MSFT Microsoft Corp. | Reduce -17.2% | 7.54% | −1.95 |
| DHR Danaher Corp. | Reduce -10.8% | 4.05% | −0.86 |
| NVDA Nvidia Corp. | Reduce -15.3% | 6.57% | −0.57 |
Portfolio Buys Q2 2025 → Q3 2025
| NFLX Netflix Inc. | New | 5.64% | +5.64 |
| V Visa Inc. Class A | Add +78.1% | 8.13% | +2.97 |
| HUBB Hubbell Inc. | New | 2.89% | +2.89 |
| COIN Coinbase Global Inc. Class A | New | 2.34% | +2.34 |
| AMZN Amazon.com Inc. | Add +42.1% | 7.92% | +1.87 |
| GS Goldman Sachs Group Inc. | Add +31.7% | 6.10% | +1.63 |
| AAPL Apple Inc. | Add +4.5% | 4.07% | +0.66 |
| KLAR Klarna Group PLC | New | 0.50% | +0.50 |
| BX Blackstone Inc. | Add +1.1% | 7.75% | +0.46 |
| UBER Uber Technologies Inc. | Add +14.9% | 4.48% | +0.45 |
| NKE Nike Inc. Class B | Add +23.3% | 3.53% | +0.36 |
| NSC Norfolk Southern Corp. | Add +1.1% | 4.00% | +0.34 |
| BLK BlackRock Inc. | Add +1.1% | 5.83% | +0.20 |
| CCI Crown Castle Inc. | Add +1.1% | 2.04% | −0.29 |
| NOW ServiceNow Inc. | Add +12.5% | 4.30% | −0.34 |
| EQIX Equinix Inc. | Add +1.1% | 3.77% | −0.34 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 23 | $125.9M | NVDA, GE, GS, CSX, AMAT |
| Q1 2026 | 22 | $136.4M | NVDA, META, AAPL, ASML, TSM |
| Q4 2025 | 22 | $129.1M | AAPL, NVDA, BLK, TSM, GS |
| Q3 2025Amended | 21 | $424.0M | V, AMZN, BX, MSFT, NVDA |
| Q2 2025 | 19 | $390.5M | META, MSFT, BX, NVDA, ADI |
| Q1 2025 | 21 | $363.4M | MSFT, DHR, BX, NVDA, AMZN |
| Q4 2024 | 23 | $377.6M | MSFT, GOOGL, V, BLK, AMZN |
| Q3 2024 | 26 | $376.2M | AAPL, MSFT, NVDA, GOOGL, NKE |
| Q2 2024 | 28 | $336.9M | MSFT, AAPL, GOOGL, V, TMO |
| Q1 2024 | 27 | $335.9M | GOOGL, META, TSM, V, TMO |