Varenne Capital Partners

Name: Varenne Capital Partners 13F holdings, Q4 2024
Creator: Varenne Capital Partners
Published: 2025-02-12

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

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 12, 2025), Varenne Capital Partners reported 15 stock positions worth $333.5 million. Its top holding was Wabtec (WAB) at 16.3% of the portfolio, followed by Meta Platforms Class A (META, 13.2%) and Alphabet Class A (GOOGL, 11.3%). Compared with Q3 2024, it opened 4 new positions, sold out of 2 and reduced 10. The biggest buy was a new position in Flowserve (FLS) and the biggest sale Intl Flavors & Fragrances (IFF, shares −83%).

Most Recent 13F: Q2 2026
Location: PARIS, I0
CIK: 0001902567
Portfolio Value: $333.5M (Q4 2024)
SEC Filing: 0000945621-25-000159 ↗ filed Feb 12, 2025

Holdings Value

Holdings 15 stocks · $333.5M


WAB Wabtec Corp.	16.30%	286,800	$54.4M	Reduce -34.7%
META Meta Platforms Inc. Class A	13.21%	75,220	$44.0M	Reduce -51.6%
GOOGL Alphabet Inc. Class A	11.30%	199,094	$37.7M	Reduce -29.0%
AMZN Amazon.com Inc.	11.28%	171,518	$37.6M	Reduce -30.9%
NFLX Netflix Inc.	11.26%	42,141	$37.6M	Reduce -38.3%
ETN Eaton Corp. PLC	7.96%	80,039	$26.6M	Reduce -52.4%
APH Amphenol Corp. Class A	7.88%	378,617	$26.3M	Reduce -38.6%
FLS Flowserve Corp.	7.86%	455,777	$26.2M	New
NVDA Nvidia Corp.	4.34%	107,820	$14.5M	Reduce -29.3%
ANET Arista Networks Inc.	4.33%	130,695	$14.4M	Reduce -64.3%
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA	1.96%	77,388	$6.5M	Reduce -82.8%
ESGR Enstar Group Ltd.	0.87%	9,058	$2.9M	No change
SMAR Smartsheet Inc. Class A	0.79%	47,157	$2.6M	New
BARNES GROUP INC	0.46%	32,166	$1.5M	New
MRVL Marvell Technology Inc.	0.17%	5,268	$582K	New

Options reported separately and not counted above: UBS GROUP AG calls ($4.7M), MICRON TECHNOLOGY INC calls ($641K).

Portfolio Sells Q3 2024 → Q4 2024


IFF Intl Flavors & Fragrances	Reduce -82.8%	1.96%	−7.24
META Meta Platforms Inc. Class A	Reduce -51.6%	13.21%	−4.11
ETN Eaton Corp. PLC	Reduce -52.4%	7.96%	−2.88
ANET Arista Networks Inc.	Reduce -64.3%	4.33%	−2.51
PRFT Perficient Inc.	Sold out	0.00%	−0.56
PWSC Powerschool Holdings Inc. Class A	Sold out	0.00%	−0.25
APH Amphenol Corp. Class A	Reduce -38.6%	7.88%	+0.07
NVDA Nvidia Corp.	Reduce -29.3%	4.34%	+0.74
WAB Wabtec Corp.	Reduce -34.7%	16.30%	+0.76
NFLX Netflix Inc.	Reduce -38.3%	11.26%	+1.84
GOOGL Alphabet Inc. Class A	Reduce -29.0%	11.30%	+2.25
AMZN Amazon.com Inc.	Reduce -30.9%	11.28%	+2.29

Portfolio Buys Q3 2024 → Q4 2024


FLS Flowserve Corp.	New	7.86%	+7.86
SMAR Smartsheet Inc. Class A	New	0.79%	+0.79
BARNES GROUP INC	New	0.46%	+0.46
MRVL Marvell Technology Inc.	New	0.17%	+0.17

Options Activity Q3 2024 → Q4 2024


UBS GROUP AG	call	Reduce -46.4%	95,366	$4.7M
MICRON TECHNOLOGY INC	call	Add +6.9%	11,440	$641K
UBS GROUP AG	put	Sold out	32,536	$472Kbefore exit

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