JAT Capital Mgmt LP's Q1 2025 13F: 10 new positions, 28 exits
Form 13F-HR for the quarter ended Mar 31, 2025 · filed May 15, 2025 · 18 reported positions · accession 0001892688-25-000129
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | CONSTELLATION ENERGY CORP (CEG) | 13.4% | 8.7% | −4.6 pts | −228K sh | −67% |
| New | CELESTICA INC (CLS) | — | 15.3% | +15.3 pts | +509K sh | new |
| Exited | APPLIED OPTOELECTRONICS INC (AAOI) | 11.9% | — | −11.9 pts | −1.85M sh | −100% |
| New | VISTRA CORP (VST) | — | 8.5% | +8.5 pts | +190K sh | new |
| Exited | APPLOVIN CORP (APP) | 6.5% | — | −6.5 pts | −114K sh | −100% |
| New | PALANTIR TECHNOLOGIES INC (PLTR) | — | 6.3% | +6.3 pts | +196K sh | new |
| Increased | HUT 8 CORP (HUT) | 3.8% | 10.8% | +7.0 pts | +1.37M sh | +130% |
| Exited | COHERENT CORP (COHR) | 4.9% | — | −4.9 pts | −297K sh | −100% |
| Reduced | OKLO INC (ALCC) | 2.6% | 1.0% | −1.6 pts | −573K sh | −82% |
| Increased | CORE SCIENTIFIC INC NEW (CORZ) | 14.4% | 20.7% | +6.4 pts | +1.65M sh | +28% |
| Exited | MASTEC INC (MTZ) | 4.1% | — | −4.1 pts | −174K sh | −100% |
| Increased | REDDIT INC (RDDT) | 3.1% | 8.2% | +5.1 pts | +95,248 sh | +88% |
| New | WIX COM LTD (WIX) | — | 3.5% | +3.5 pts | +55,802 sh | new |
| New | BROADCOM INC (AVGO) | — | 3.4% | +3.4 pts | +53,500 sh | new |
| Exited | AMAZON COM INC (AMZN) | 3.4% | — | −3.4 pts | −87,500 sh | −100% |
| Exited | CARVANA CO (CVNA) | 3.1% | — | −3.1 pts | −86,545 sh | −100% |
| Exited | AVIS BUDGET GROUP (CAR) | 2.8% | — | −2.8 pts | −201K sh | −100% |
| Exited | THE TRADE DESK INC (TTD) | 2.7% | — | −2.7 pts | −132K sh | −100% |
| Exited | TESLA INC (TSLA) | 2.5% | — | −2.5 pts | −35,426 sh | −100% |
| Increased | ORACLE CORP (ORCL) | 3.7% | 9.2% | +5.5 pts | +46,067 sh | +36% |
| Reduced | WARNER BROS DISCOVERY INC (WBD) | 1.2% | 0.3% | −0.9 pts | −587K sh | −90% |
| Exited | ADOBE INC (ADBE) | 2.0% | — | −2.0 pts | −26,290 sh | −100% |
| Exited | DUOLINGO INC (DUOL) | 1.7% | — | −1.7 pts | −30,036 sh | −100% |
| Exited | CINEMARK HLDGS INC (CNK) | 1.7% | — | −1.7 pts | −314K sh | −100% |
| Exited | META PLATFORMS INC (META) | 1.5% | — | −1.5 pts | −15,000 sh | −100% |
| Exited | DRAFTKINGS INC NEW (DKNG) | 1.5% | — | −1.5 pts | −228K sh | −100% |
| New | DELL TECHNOLOGIES INC (DELL) | — | 1.4% | +1.4 pts | +41,600 sh | new |
| Exited | MONDAY COM LTD (MNDY) | 1.2% | — | −1.2 pts | −30,109 sh | −100% |
| Exited | BLOOM ENERGY CORP (BE) | 1.2% | — | −1.2 pts | −308K sh | −100% |
| New | ROBINHOOD MKTS INC (HOOD) | — | 1.0% | +1.0 pts | +64,971 sh | new |
| Exited | COLOMBIER ACQUISITION CORP I (CLBRU) | 0.9% | — | −0.9 pts | −415K sh | −100% |
| Exited | ELASTIC N V (ESTC) | 0.9% | — | −0.9 pts | −50,000 sh | −100% |
| Exited | GE VERNOVA INC (GEV) | 0.6% | — | −0.6 pts | −10,000 sh | −100% |
| Exited | MONGODB INC (MDB) | 0.6% | — | −0.6 pts | −13,575 sh | −100% |
| New | COREWEAVE INC (CRWV) | — | 0.5% | +0.5 pts | +37,500 sh | new |
| New | SPHERE ENTERTAINMENT CO (SPHR) | — | 0.4% | +0.4 pts | +35,856 sh | new |
| Exited | WESTERN DIGITAL CORP (WDC) | 0.4% | — | −0.4 pts | −38,424 sh | −100% |
| Exited | ARISTA NETWORKS INC (ANET) | 0.3% | — | −0.3 pts | −17,633 sh | −100% |
| Exited | GITLAB INC (GTLB) | 0.3% | — | −0.3 pts | −34,210 sh | −100% |
| Exited | NEBIUS GROUP N.V. (NBIS) | 0.3% | — | −0.3 pts | −60,125 sh | −100% |
| Increased | SPOTIFY TECHNOLOGY S A (SPOT) | 0.1% | 0.5% | +0.4 pts | +1,375 sh | +162% |
| Exited | HERTZ GLOBAL HLDGS INC (HTZ) | 0.3% | — | −0.3 pts | −396K sh | −100% |
| Exited | SHOPIFY INC (SHOP) | 0.2% | — | −0.2 pts | −12,500 sh | −100% |
| New | CREDO TECHNOLOGY GROUP HOLDI (CRDO) | — | 0.2% | +0.2 pts | +10,699 sh | new |
| Exited | ROBLOX CORP (RBLX) | 0.1% | — | −0.1 pts | −12,015 sh | −100% |
| Exited | PINTEREST INC (PINS) | 0.1% | — | −0.1 pts | −13,462 sh | −100% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 94.6% of the equity book
Changes in the top 10 this quarter: CLS entered · VST entered · PLTR entered · WIX entered · AVGO entered · AAOI left · APP left · COHR left · MTZ left · AMZN left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | CORE SCIENTIFIC INC NEW (CORZ) | 14.4% | 20.7% | |
| 2 | CELESTICA INC (CLS) | 0.0% | 15.3% | Entered the top 10 |
| 3 | HUT 8 CORP (HUT) | 3.8% | 10.8% | |
| 4 | ORACLE CORP (ORCL) | 3.7% | 9.2% | |
| 5 | CONSTELLATION ENERGY CORP (CEG) | 13.4% | 8.7% | |
| 6 | VISTRA CORP (VST) | 0.0% | 8.5% | Entered the top 10 |
| 7 | REDDIT INC (RDDT) | 3.1% | 8.2% | |
| 8 | PALANTIR TECHNOLOGIES INC (PLTR) | 0.0% | 6.3% | Entered the top 10 |
| 9 | WIX COM LTD (WIX) | 0.0% | 3.5% | Entered the top 10 |
| 10 | BROADCOM INC (AVGO) | 0.0% | 3.4% | Entered the top 10 |
| — | APPLIED OPTOELECTRONICS INC (AAOI) | 11.9% | 0.0% | Left the top 10 |
| — | APPLOVIN CORP (APP) | 6.5% | 0.0% | Left the top 10 |
| — | COHERENT CORP (COHR) | 4.9% | 0.0% | Left the top 10 |
| — | MASTEC INC (MTZ) | 4.1% | 0.0% | Left the top 10 |
| — | AMAZON COM INC (AMZN) | 3.4% | 0.0% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| Exited | CONSTELLATION ENERGY CORP (CEG) | Call | 140K | 0 | $0 |
| Reduced | APPLIED OPTOELECTRONICS INC (AAOI) | Call | 385K | 10,400 | $160K |
| Increased | CORE SCIENTIFIC INC NEW (CORZ) | Call | 1.07M | 2.5M | $18.1M |
| New | HUT 8 CORP (HUT) | Call | 0 | 94,500 | $1.1M |