Kultura Capital Management LP
PARK CITY, UT
$218m in 31 US stocks at the end of 30 June 2026. The top 10 are 61.8% of the money. It changed about 54.0% of the portfolio this quarter.
Value
$218m
Stocks
31
Top 10 share
61.8%
Turnover
54.0%
What changed this quarter
New
Bought for the first time this quarter.
- Applied MaterialsAMAT7.7% of the fund
- SandiskSNDK6.5% of the fund
- CohuCOHU5.3% of the fund
- Palo Alto NetworksPANW3.6% of the fund
- ASE Technology HldgASX2.6% of the fund
- Lam ResearchLRCX2.6% of the fund
- RedditRDDT2.4% of the fund
- ACM ResearchACMR2.2% of the fund
- NokiaNOK2.1% of the fund
- VicorVICR2.0% of the fund
- Cerebras SystemsCBRS0.6% of the fund
- Navitas SemiconductorNVTS0.6% of the fund
- Hinge HealthHNGE0.2% of the fund
Added
Bought more of a stock they already held.
- IntelINTC13.3% of the fund+158%
- Aehr Test SystemsAEHR5.2% of the fund+47%
- NvidiaNVDA4.5% of the fund+2%
- Applied OptoelectronicsAAOI3.6% of the fund+46%
- Bloom EnergyBE2.9% of the fund+13%
- Hyperliquid StrategiesPURR1.3% of the fund+18%
Cut
Sold some of their stake.
- Taiwan Semiconductor ManufacturingTSM5.4% of the fund-18%
- Micron TechnologyMU5.0% of the fund-8%
- AlphabetGOOGL4.8% of the fund-43%
- ASML Holding NVASML3.8% of the fund-28%
- Robinhood MarketsHOOD2.7% of the fund-34%
- Lumentum HoldingsLITE2.5% of the fund-21%
- AppLovinAPP1.8% of the fund-45%
- Tower SemiconductorTSEM0.8% of the fund-82%
Sold out
Sold their entire stake.
- Meta PlatformsMETA-100%
- CienaCIEN-100%
- Palantir TechnologiesPLTR-100%
- Babcock & Wilcox EnterprisesBW-100%
- Poet TechnologiesPOET-100%
- SamsaraIOT-100%
- Circle Internet GroupCRCL-100%
Holdings
- ASE Technology HldgASX
- Share
- 2.6%
- Value
- $6m
- Shares
- 127,900
New
- NokiaNOK
- Share
- 2.1%
- Value
- $4m
- Shares
- 337,585
New
- Cerebras SystemsCBRS
- Share
- 0.6%
- Value
- $1m
- Shares
- 5,700
New
- Opendoor TechnologiesOPENW
- Share
- <0.1%
- Value
- $8,085
- Shares
- 16,333
Held
- Opendoor TechnologiesOPENL
- Share
- <0.1%
- Value
- $4,619
- Shares
- 16,333
Held
- Opendoor TechnologiesOPENZ
- Share
- <0.1%
- Value
- $3,920
- Shares
- 16,333
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| IntelINTC | 13.3% | $29m | 206,750 | +158% |
| Applied MaterialsAMAT | 7.7% | $17m | 23,200 | New |
| SandiskSNDK | 6.5% | $14m | 6,180 | New |
| Taiwan Semiconductor ManufacturingTSM | 5.4% | $12m | 24,790 | -18% |
| CohuCOHU | 5.3% | $12m | 157,357 | New |
| Aehr Test SystemsAEHR | 5.2% | $11m | 117,865 | +47% |
| Micron TechnologyMU | 5.0% | $11m | 9,500 | -8% |
| AlphabetGOOGL | 4.8% | $10m | 29,255 | -43% |
| NvidiaNVDA | 4.5% | $10m | 48,935 | +2% |
| CrowdStrike HoldingsCRWD | 4.1% | $9m | 11,640 | Held |
| ASML Holding NVASML | 3.8% | $8m | 4,200 | -28% |
| Applied OptoelectronicsAAOI | 3.6% | $8m | 53,345 | +46% |
| Palo Alto NetworksPANW | 3.6% | $8m | 22,982 | New |
| Bloom EnergyBE | 2.9% | $6m | 20,750 | +13% |
| Robinhood MarketsHOOD | 2.7% | $6m | 58,900 | -34% |
| ASE Technology HldgASX | 2.6% | $6m | 127,900 | New |
| Lam ResearchLRCX | 2.6% | $6m | 12,880 | New |
| Lumentum HoldingsLITE | 2.5% | $6m | 6,435 | -21% |
| RedditRDDT | 2.4% | $5m | 30,200 | New |
| ACM ResearchACMR | 2.2% | $5m | 37,725 | New |
| NokiaNOK | 2.1% | $4m | 337,585 | New |
| VicorVICR | 2.0% | $4m | 11,255 | New |
| AppLovinAPP | 1.8% | $4m | 7,560 | -45% |
| Hyperliquid StrategiesPURR | 1.3% | $3m | 361,500 | +18% |
| Tower SemiconductorTSEM | 0.8% | $2m | 6,300 | -82% |
| Cerebras SystemsCBRS | 0.6% | $1m | 5,700 | New |
| Navitas SemiconductorNVTS | 0.6% | $1m | 68,765 | New |
| Hinge HealthHNGE | 0.2% | $415,000 | 5,000 | New |
| Opendoor TechnologiesOPENW | <0.1% | $8,085 | 16,333 | Held |
| Opendoor TechnologiesOPENL | <0.1% | $4,619 | 16,333 | Held |
| Opendoor TechnologiesOPENZ | <0.1% | $3,920 | 16,333 | Held |
Options (35)
- Invesco QQQ TRQQQ
- Type
- Put
- Value
- $83m
- Contracts
- 112,600
- Vaneck ETF TrustSMH
- Type
- Put
- Value
- $35m
- Contracts
- 54,000
- MicrosoftMSFT
- Type
- Call
- Value
- $20m
- Contracts
- 54,100
- BroadcomAVGO
- Type
- Call
- Value
- $18m
- Contracts
- 48,500
- NokiaNOK
- Type
- Call
- Value
- $17m
- Contracts
- 1,284,600
- Super Micro ComputerSMCI
- Type
- Put
- Value
- $15m
- Contracts
- 509,900
- Roundhill ETF TrustDRAM
- Type
- Put
- Value
- $14m
- Contracts
- 193,100
- EQTEQT
- Type
- Call
- Value
- $11m
- Contracts
- 198,900
- Kraneshares TrustKWEB
- Type
- Call
- Value
- $10m
- Contracts
- 402,600
- StrategyMSTR
- Type
- Put
- Value
- $9m
- Contracts
- 107,500
- IntelINTC
- Type
- Call
- Value
- $9m
- Contracts
- 66,000
- Kimberly-ClarkKMB
- Type
- Call
- Value
- $8m
- Contracts
- 76,600
- IntuitINTU
- Type
- Call
- Value
- $7m
- Contracts
- 27,300
- Home DepotHD
- Type
- Call
- Value
- $6m
- Contracts
- 18,400
- Roundhill ETF TrustDRAM
- Type
- Call
- Value
- $6m
- Contracts
- 87,000
- General MotorsGM
- Type
- Call
- Value
- $6m
- Contracts
- 82,200
- Space Exploration TechnologiesSPCX
- Type
- Call
- Value
- $5m
- Contracts
- 31,000
- Palantir TechnologiesPLTR
- Type
- Call
- Value
- $5m
- Contracts
- 43,800
- Nebius GroupNBIS
- Type
- Call
- Value
- $5m
- Contracts
- 18,400
- Advanced Micro DevicesAMD
- Type
- Call
- Value
- $4m
- Contracts
- 7,500
- ProPetro HoldingPUMP
- Type
- Call
- Value
- $4m
- Contracts
- 303,000
- BOXBOX
- Type
- Call
- Value
- $4m
- Contracts
- 158,500
- Freeport-McMoRanFCX
- Type
- Call
- Value
- $4m
- Contracts
- 65,000
- Dell TechnologiesDELL
- Type
- Call
- Value
- $4m
- Contracts
- 8,500
- TeradyneTER
- Type
- Call
- Value
- $3m
- Contracts
- 6,700
- ARM HoldingsARM
- Type
- Call
- Value
- $3m
- Contracts
- 7,800
- FermiFRMI
- Type
- Call
- Value
- $3m
- Contracts
- 296,300
- OkloOKLO
- Type
- Call
- Value
- $3m
- Contracts
- 51,800
- BackblazeBLZE
- Type
- Call
- Value
- $3m
- Contracts
- 167,100
- Red Cat HoldingsRCAT
- Type
- Call
- Value
- $2m
- Contracts
- 223,400
- AmerescoAMRC
- Type
- Call
- Value
- $2m
- Contracts
- 81,500
- Power IntegrationsPOWI
- Type
- Call
- Value
- $1m
- Contracts
- 14,800
- Hims & Hers HealthHIMS
- Type
- Call
- Value
- $1m
- Contracts
- 33,500
- IonQIONQ
- Type
- Call
- Value
- $719,010
- Contracts
- 13,500
- Virgin Galactic HoldingsSPCE
- Type
- Put
- Value
- $701,403
- Contracts
- 242,700
| Company | Type | Value | Contracts |
|---|---|---|---|
| Invesco QQQ TRQQQ | Put | $83m | 112,600 |
| Vaneck ETF TrustSMH | Put | $35m | 54,000 |
| MicrosoftMSFT | Call | $20m | 54,100 |
| BroadcomAVGO | Call | $18m | 48,500 |
| NokiaNOK | Call | $17m | 1,284,600 |
| Super Micro ComputerSMCI | Put | $15m | 509,900 |
| Roundhill ETF TrustDRAM | Put | $14m | 193,100 |
| EQTEQT | Call | $11m | 198,900 |
| Kraneshares TrustKWEB | Call | $10m | 402,600 |
| StrategyMSTR | Put | $9m | 107,500 |
| IntelINTC | Call | $9m | 66,000 |
| Kimberly-ClarkKMB | Call | $8m | 76,600 |
| IntuitINTU | Call | $7m | 27,300 |
| Home DepotHD | Call | $6m | 18,400 |
| Roundhill ETF TrustDRAM | Call | $6m | 87,000 |
| General MotorsGM | Call | $6m | 82,200 |
| Space Exploration TechnologiesSPCX | Call | $5m | 31,000 |
| Palantir TechnologiesPLTR | Call | $5m | 43,800 |
| Nebius GroupNBIS | Call | $5m | 18,400 |
| Advanced Micro DevicesAMD | Call | $4m | 7,500 |
| ProPetro HoldingPUMP | Call | $4m | 303,000 |
| BOXBOX | Call | $4m | 158,500 |
| Freeport-McMoRanFCX | Call | $4m | 65,000 |
| Dell TechnologiesDELL | Call | $4m | 8,500 |
| TeradyneTER | Call | $3m | 6,700 |
| ARM HoldingsARM | Call | $3m | 7,800 |
| FermiFRMI | Call | $3m | 296,300 |
| OkloOKLO | Call | $3m | 51,800 |
| BackblazeBLZE | Call | $3m | 167,100 |
| Red Cat HoldingsRCAT | Call | $2m | 223,400 |
| AmerescoAMRC | Call | $2m | 81,500 |
| Power IntegrationsPOWI | Call | $1m | 14,800 |
| Hims & Hers HealthHIMS | Call | $1m | 33,500 |
| IonQIONQ | Call | $719,010 | 13,500 |
| Virgin Galactic HoldingsSPCE | Put | $701,403 | 242,700 |
Over time and by industry
Value over time
Dec '25
Jun '26
Value is up 58.0% since 31 December 2025.
Where the money is
Technology60.9%
Industrials21.4%
Media & telecom9.0%
Financial services4.0%
Other4.7%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.