In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Varenne Capital Partners reported 13 stock positions worth $513.9 million . Its top holding was Meta Platforms Class A (META) at 17.3% of the portfolio, followed by Wabtec (WAB, 15.5% ) and Eaton (ETN, 10.8% ). Compared with Q2 2024, it opened 2 new positions, sold out of 3, added to 8 and reduced 3. The biggest buy was Wabtec (WAB, shares +6797% ) and the biggest sale Nvidia (NVDA, shares −75% ).
Location PARIS, I0
CIK 0001902567
Portfolio Value $513.9M (Q3 2024) Holdings 13 stocks · $513.9M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2024 META Meta Platforms Inc. Class A 155,470 $89.0M Add +24.9% WAB Wabtec Corp. 439,422 $79.9M Add +6797.2% ETN Eaton Corp. PLC 168,118 $55.7M Add +4291.8% NFLX Netflix Inc. 68,263 $48.4M Add +160.9% IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 450,655 $47.3M Add +2.3% GOOGL Alphabet Inc. Class A 280,465 $46.5M Add +5052.8% AMZN Amazon.com Inc. 248,055 $46.2M Reduce -16.0% APH Amphenol Corp. Class A 616,544 $40.2M New ANET Arista Networks Inc. 91,601 $35.2M Add +482.3% NVDA Nvidia Corp. 152,405 $18.5M Reduce -74.6% ESGR Enstar Group Ltd. 9,058 $2.9M New PRFT Perficient Inc. 37,969 $2.9M Reduce -11.4% PWSC Powerschool Holdings Inc. Class A 56,250 $1.3M Add +13.8%
Options reported separately and not counted above: UBS GROUP AG calls ($4.3M), MICRON TECHNOLOGY INC calls ($3.5M), UBS GROUP AG puts ($472K).
Portfolio Sells Q2 2024 → Q3 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▲ NVDA Nvidia Corp. Reduce -74.6% 3.60% −17.37 NOW ServiceNow Inc. Sold out 0.00% −13.68 MSFT Microsoft Corp. Sold out 0.00% −8.73 AMZN Amazon.com Inc. Reduce -16.0% 8.99% −7.13 GE General Electric Sold out 0.00% −2.25 PRFT Perficient Inc. Reduce -11.4% 0.56% −0.35
Portfolio Buys Q2 2024 → Q3 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▼ WAB Wabtec Corp. Add +6797.2% 15.54% +15.26 ETN Eaton Corp. PLC Add +4291.8% 10.84% +10.50 GOOGL Alphabet Inc. Class A Add +5052.8% 9.05% +8.77 APH Amphenol Corp. Class A New 7.82% +7.82 ANET Arista Networks Inc. Add +482.3% 6.84% +5.28 NFLX Netflix Inc. Add +160.9% 9.42% +4.43 ESGR Enstar Group Ltd. New 0.57% +0.57 PWSC Powerschool Holdings Inc. Class A Add +13.8% 0.25% −0.06 META Meta Platforms Inc. Class A Add +24.9% 17.32% −0.41 IFF Intl Flavors & Fragrances Add +2.3% 9.20% −2.65
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ UBS UBS Group AG-Reg call Sold out 321,354 $28.6Mbefore exit GE AEROSPACE call Sold out 18,480 $13.5Mbefore exit UBS GROUP AG call New 178,044 $4.3M MICRON TECHNOLOGY INC call New 10,705 $3.5M UBS GROUP AG put New 32,536 $472K
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 26 $595.9M AVGO, TSM, ANET, WWD, APH Q1 2026 27 $403.0M TSM, ANET, BKNG, NVST, ADI Q4 2025 24 $480.8M TEL, ANET, WAB, TSM, LLY Q3 2025 21 $473.9M APH, TEL, ANET, WAB, UHS Q2 2025 15 $396.4M APH, WAB, ANET, DIS, NFLX Q1 2025 15 $271.3M META, ANET, WAB, FLS, NFLX Q4 2024 15 $333.5M WAB, META, GOOGL, AMZN, NFLX Q3 2024 13 $513.9M META, WAB, ETN, NFLX, IFF Q2 2024 14 $353.9M NVDA, META, AMZN, NOW, IFF Q1 2024 16 $576.4M VEEV, ETN, GOOGL, ULTA, META