Tenere Capital LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Tenere Capital LLC reported 22 stock positions worth $129.1 million. Its top holding was Apple (AAPL) at 9.9% of the portfolio, followed by Nvidia (NVDA, 7.4%) and BlackRock (BLK, 7.2%). Compared with Q3 2025, it opened 10 new positions, sold out of 9 and reduced 11. The biggest buy was a new position in Taiwan Semiconductor-SP ADR (TSM) and the biggest sale an exit from Blackstone (BX).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001849517
- Portfolio Value
- $129.1M (Q4 2025)
- SEC Filing
- 0001849517-26-000002 ↗ filed Feb 17, 2026
Holdings Value
Holdings 22 stocks · $129.1M
| AAPL Apple Inc. | 9.85% | 46,762 | $12.7M | Reduce -30.9% |
| NVDA Nvidia Corp. | 7.37% | 50,995 | $9.5M | Reduce -65.9% |
| BLK BlackRock Inc. | 7.23% | 8,712 | $9.3M | Reduce -58.9% |
| TSM Taiwan Semiconductor-SP ADR | 6.87% | 29,165 | $8.9M | New |
| GS Goldman Sachs Group Inc. | 6.76% | 9,918 | $8.7M | Reduce -69.5% |
| V Visa Inc. Class A | 6.59% | 24,252 | $8.5M | Reduce -76.0% |
| DHR Danaher Corp. | 6.15% | 34,648 | $7.9M | Reduce -60.0% |
| AMZN Amazon.com Inc. | 5.66% | 31,640 | $7.3M | Reduce -79.3% |
| COF Capital One Financial Corp. | 5.58% | 29,708 | $7.2M | New |
| GOOGL Alphabet Inc. Class A | 5.26% | 21,697 | $6.8M | New |
| ADI Analog Devices Inc. | 3.70% | 17,609 | $4.8M | New |
| COIN Coinbase Global Inc. Class A | 3.50% | 19,956 | $4.5M | Reduce -32.1% |
| MSFT Microsoft Corp. | 3.37% | 8,990 | $4.3M | Reduce -85.4% |
| GE General Electric filed as GE AEROSPACE | 3.21% | 13,461 | $4.1M | New |
| IQV Iqvia Holdings Inc. | 3.01% | 17,210 | $3.9M | New |
| META Meta Platforms Inc. Class A | 2.97% | 5,800 | $3.8M | Reduce -83.7% |
| AMAT Applied Materials Inc. | 2.88% | 14,478 | $3.7M | New |
| CAT Caterpillar Inc. | 2.86% | 6,451 | $3.7M | New |
| GEV GE Vernova Inc. | 2.66% | 5,243 | $3.4M | New |
| LLY Eli Lilly & Co. | 2.19% | 2,632 | $2.8M | New |
| KLAR Klarna Group PLC | 1.30% | 57,984 | $1.7M | No change |
| ADSK Autodesk Inc. | 1.05% | 4,579 | $1.4M | Reduce -85.8% |
Portfolio Sells Q3 2025 → Q4 2025
| BX Blackstone Inc. | Sold out | 0.00% | −7.75 |
| NFLX Netflix Inc. | Sold out | 0.00% | −5.64 |
| UBER Uber Technologies Inc. | Sold out | 0.00% | −4.48 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −4.30 |
| MSFT Microsoft Corp. | Reduce -85.4% | 3.37% | −4.18 |
| NSC Norfolk Southern Corp. | Sold out | 0.00% | −4.00 |
| EQIX Equinix Inc. | Sold out | 0.00% | −3.77 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −3.53 |
| META Meta Platforms Inc. Class A | Reduce -83.7% | 2.97% | −3.18 |
| HUBB Hubbell Inc. | Sold out | 0.00% | −2.89 |
| AMZN Amazon.com Inc. | Reduce -79.3% | 5.66% | −2.26 |
| CCI Crown Castle Inc. | Sold out | 0.00% | −2.04 |
| V Visa Inc. Class A | Reduce -76.0% | 6.59% | −1.54 |
| ADSK Autodesk Inc. | Reduce -85.8% | 1.05% | −1.36 |
| GS Goldman Sachs Group Inc. | Reduce -69.5% | 6.76% | +0.65 |
| NVDA Nvidia Corp. | Reduce -65.9% | 7.37% | +0.80 |
| COIN Coinbase Global Inc. Class A | Reduce -32.1% | 3.50% | +1.16 |
| BLK BlackRock Inc. | Reduce -58.9% | 7.23% | +1.39 |
| DHR Danaher Corp. | Reduce -60.0% | 6.15% | +2.10 |
| AAPL Apple Inc. | Reduce -30.9% | 9.85% | +5.79 |
Portfolio Buys Q3 2025 → Q4 2025
| TSM Taiwan Semiconductor-SP ADR | New | 6.87% | +6.87 |
| COF Capital One Financial Corp. | New | 5.58% | +5.58 |
| GOOGL Alphabet Inc. Class A | New | 5.26% | +5.26 |
| ADI Analog Devices Inc. | New | 3.70% | +3.70 |
| GE General Electric | New | 3.21% | +3.21 |
| IQV Iqvia Holdings Inc. | New | 3.01% | +3.01 |
| AMAT Applied Materials Inc. | New | 2.88% | +2.88 |
| CAT Caterpillar Inc. | New | 2.86% | +2.86 |
| GEV GE Vernova Inc. | New | 2.66% | +2.66 |
| LLY Eli Lilly & Co. | New | 2.19% | +2.19 |
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 |