Totem Point Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Totem Point Management, LLC reported 14 stock positions worth $100.2 million. Its top holding was Spotify Technology (SPOT) at 11.8% of the portfolio, followed by S&P Global (SPGI, 11.8%) and Taiwan Semiconductor-SP ADR (TSM, 11.6%). Compared with Q3 2025, it opened 4 new positions, sold out of 5, added to 4 and reduced 6. The biggest buy was a new position in Hewlett Packard Enterprise (HPE) and the biggest sale an exit from Roblox Class A (RBLX).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001759364
- Portfolio Value
- $100.2M (Q4 2025)
- SEC Filing
- 0001759364-26-000002 ↗ filed Feb 17, 2026
Holdings Value
Holdings 14 stocks · $100.2M
| SPOT Spotify Technology SA | 11.78% | 20,336 | $11.8M | Add +39.6% |
| SPGI S&P Global Inc. | 11.77% | 22,579 | $11.8M | Add +82.5% |
| TSM Taiwan Semiconductor-SP ADR | 11.55% | 38,096 | $11.6M | Reduce -12.0% |
| NVDA Nvidia Corp. | 10.32% | 55,442 | $10.3M | Reduce -27.6% |
| TTWO Take-Two Interactive Softwre | 10.06% | 39,402 | $10.1M | Reduce -8.3% |
| MU Micron Technology Inc. | 9.81% | 34,453 | $9.8M | Reduce -41.1% |
| HPE Hewlett Packard Enterprise | 9.74% | 406,506 | $9.8M | New |
| BILL Bill Holdings Inc. | 8.44% | 155,100 | $8.5M | Add +117.8% |
| ON On Semiconductor | 6.67% | 123,407 | $6.7M | New |
| BKNG Booking Holdings Inc. | 4.19% | 784 | $4.2M | Add +4.7% |
| MCO Moody's Corp. | 2.01% | 3,953 | $2.0M | New |
| APP AppLovin Corp. Class A | 1.65% | 2,457 | $1.7M | Reduce -66.4% |
| AVGO Broadcom Inc. | 1.43% | 4,143 | $1.4M | Reduce -82.5% |
| FWONK Liberty Media Corp. Class C | 0.57% | 5,789 | $570K | New |
Portfolio Sells Q3 2025 → Q4 2025
| RBLX Roblox Corp. Class A | Sold out | 0.00% | −7.63 |
| SE Sea Ltd.-ADR | Sold out | 0.00% | −7.01 |
| AVGO Broadcom Inc. | Reduce -82.5% | 1.43% | −5.54 |
| MMYT Makemytrip Ltd. | Sold out | 0.00% | −3.92 |
| SNDK Sandisk Corp. | Sold out | 0.00% | −3.79 |
| APP AppLovin Corp. Class A | Reduce -66.4% | 1.65% | −3.03 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −2.46 |
| NVDA Nvidia Corp. | Reduce -27.6% | 10.32% | −2.42 |
| TTWO Take-Two Interactive Softwre | Reduce -8.3% | 10.06% | +0.17 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -12.0% | 11.55% | +0.77 |
| MU Micron Technology Inc. | Reduce -41.1% | 9.81% | +1.08 |
Portfolio Buys Q3 2025 → Q4 2025
| HPE Hewlett Packard Enterprise | New | 9.74% | +9.74 |
| ON On Semiconductor | New | 6.67% | +6.67 |
| SPGI S&P Global Inc. | Add +82.5% | 11.77% | +6.40 |
| BILL Bill Holdings Inc. | Add +117.8% | 8.44% | +5.08 |
| SPOT Spotify Technology SA | Add +39.6% | 11.78% | +2.72 |
| MCO Moody's Corp. | New | 2.01% | +2.01 |
| BKNG Booking Holdings Inc. | Add +4.7% | 4.19% | +0.58 |
| FWONK Liberty Media Corp. Class C | New | 0.57% | +0.57 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 18 | $163.5M | CBRS, TSM, LRCX, NVDA, AMD |
| Q1 2026 | 17 | $78.4M | NVDA, AMD, ON, TSM, SPOT |
| Q4 2025 | 14 | $100.2M | SPOT, SPGI, TSM, NVDA, TTWO |
| Q3 2025 | 15 | $112.1M | NVDA, TSM, TTWO, SPOT, MU |
| Q2 2025 | 12 | $95.0M | SPOT, SPGI, NVDA, TTWO, SE |
| Q1 2025 | 13 | $81.2M | SPGI, SPOT, TTWO, SE, TSM |
| Q4 2024 | 16 | $94.4M | SPGI, TSM, TTWO, BKNG, SPOT |
| Q3 2024 | 16 | $94.6M | SPOT, SPGI, NVDA, ADI, TSM |
| Q2 2024 | 15 | $68.3M | SPOT, SPGI, TSM, ADI, NVDA |
| Q1 2024 | 16 | $91.4M | SPGI, NVDA, MSCI, MU, TSM |