Think Investments LP

Name: Think Investments LP 13F holdings, Q4 2025
Creator: Think Investments LP
Published: 2026-02-17

Q2 2026Q1 2026Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Think Investments LP reported 22 stock positions worth $782.0 million. Its top holding was Amazon.com (AMZN) at 9.6% of the portfolio, followed by Marvell Technology (MRVL, 8.1%) and Semtech (SMTC, 6.3%). Compared with Q3 2025, it opened 5 new positions, sold out of 3, added to 2 and reduced 6. The biggest buy was a new position in Core Scientific (CORZ) and the biggest sale Reddit Class A (RDDT, shares −40%).

Most Recent 13F: Q2 2026
Location: San Francisco, CA
CIK: 0001635999
Portfolio Value: $782.0M (Q4 2025)
SEC Filing: 0001635999-26-000001 ↗ filed Feb 17, 2026

Holdings Value

Holdings 22 stocks · $782.0M


AMZN Amazon.com Inc.	9.60%	325,275	$75.1M	No change
MRVL Marvell Technology Inc.	8.13%	747,811	$63.5M	Add +57.8%
SMTC Semtech Corp.	6.28%	666,400	$49.1M	Reduce -18.8%
BABA Alibaba Group Holding-SP ADR	6.01%	320,500	$47.0M	Add +32.1%
RDDT Reddit Inc. Class A	5.83%	198,382	$45.6M	Reduce -40.3%
TASK Taskus Inc. Class A	5.63%	3,734,665	$44.0M	No change
CORZ Core Scientific Inc.	5.21%	2,799,600	$40.8M	New
IBN Icici Bank Ltd.-Spon ADR	4.92%	1,292,200	$38.5M	No change
TTMI TTM Technologies	4.87%	551,504	$38.1M	Reduce -30.5%
BKH Black Hills Corp.	4.77%	537,637	$37.3M	New
GTLB Gitlab Inc. Class A	4.74%	988,200	$37.1M	No change
MELI MercadoLibre Inc.	4.71%	18,300	$36.9M	No change
ATAT Atour Lifestyle Holdings-ADR	4.52%	897,500	$35.4M	No change
CRCL Circle Internet Group Inc.	3.70%	364,700	$28.9M	New
CLS Celestica Inc.	3.49%	92,300	$27.3M	Reduce -6.6%
RKT Rocket Cos Inc. Class A	3.47%	1,400,000	$27.1M	New
SIMO Silicon Motion Technol-ADR	3.43%	289,300	$26.8M	No change
FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD	3.29%	156,900	$25.8M	Reduce -29.6%
COMP Compass Inc. Class A	2.86%	2,117,900	$22.4M	Reduce -19.7%
SE Sea Ltd.-ADR	2.84%	174,000	$22.2M	No change
QFIN Qfin Holdings Inc.-ADR	0.86%	349,900	$6.7M	No change
BE Bloom Energy Corp. Class A	0.83%	74,800	$6.5M	New

Options reported separately and not counted above: BKH calls ($55.5M), NU calls ($28.5M), MRVL calls ($25.5M), CORZ calls ($5.8M).

Portfolio Sells Q3 2025 → Q4 2025


RDDT Reddit Inc. Class A	Reduce -40.3%	5.83%	−4.26
AVGO Broadcom Inc.	Sold out	0.00%	−2.06
SNAP Snap Inc. Class A	Sold out	0.00%	−2.05
FUTU Futu Holdings Ltd.-ADR	Reduce -29.6%	3.29%	−1.83
SMTC Semtech Corp.	Reduce -18.8%	6.28%	−1.47
GOOG Alphabet Inc. Class C	Sold out	0.00%	−1.39
TTMI TTM Technologies	Reduce -30.5%	4.87%	−1.17
COMP Compass Inc. Class A	Reduce -19.7%	2.86%	+0.06
CLS Celestica Inc.	Reduce -6.6%	3.49%	+0.27

Portfolio Buys Q3 2025 → Q4 2025


CORZ Core Scientific Inc.	New	5.21%	+5.21
BKH Black Hills Corp.	New	4.77%	+4.77
CRCL Circle Internet Group Inc.	New	3.70%	+3.70
RKT Rocket Cos Inc. Class A	New	3.47%	+3.47
MRVL Marvell Technology Inc.	Add +57.8%	8.13%	+2.86
BE Bloom Energy Corp. Class A	New	0.83%	+0.83
BABA Alibaba Group Holding-SP ADR	Add +32.1%	6.01%	+0.28

Options Activity Q3 2025 → Q4 2025


BKH Black Hills Corp.	call	New	800,000	$55.5M
NU Nu Holdings Ltd./Cayman Isl-A	call	New	1,700,000	$28.5M
MRVL Marvell Technology Inc.	call	New	300,000	$25.5M
CORZ Core Scientific Inc.	call	New	400,000	$5.8M

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	21	$811.4M	MRVL, AMZN, LRCX, TSEM, AEVA
Q1 2026	30	$741.6M	AMZN, MRVL, BABA, CLS, CRCL
Q4 2025	22	$782.0M	AMZN, MRVL, SMTC, BABA, RDDT
Q3 2025	20	$756.6M	RDDT, AMZN, TASK, SMTC, TTMI
Q2 2025	21	$576.9M	AMZN, TASK, MELI, IBN, RDDT
Q1 2025	21	$512.7M	AMZN, TASK, SE, IBN, MELI
Q4 2024	18	$454.5M	AMZN, TASK, SNAP, RDDT, IBN
Q3 2024	17	$511.7M	TWKS, AMZN, SNAP, IBN, MELI
Q2 2024	20	$485.8M	AMZN, SNAP, IBN, XYZ, CAR
Q1 2024	20	$448.2M	AMZN, XYZ, IBN, CAR, SNAP