Lingotto Investment Management LLP
London, X0
$4.6bn in 31 US stocks at the end of 30 June 2026. The top 10 are 80.5% of the money. It changed about 23.1% of the portfolio this quarter.
Value
$4.6bn
Stocks
31
Top 10 share
80.5%
Turnover
23.1%
What changed this quarter
New
Bought for the first time this quarter.
- Molina HealthcareMOH12.4% of the fund
- Sunshine Silver Mining & RefiningSSMR0.6% of the fund
- Fervo EnergyFRVO0.3% of the fund
- Novagold Resources0.2% of the fund
- EnviriNVRI0.1% of the fund
- Klarna GroupKLAR<0.1% of the fund
Added
Bought more of a stock they already held.
- Range ResourcesRRC8.8% of the fund+54%
- Taiwan Semiconductor ManufacturingTSM3.2% of the fund+11%
- NvidiaNVDA2.9% of the fund+9%
- Nebius GroupNBIS1.2% of the fund+60%
Cut
Sold some of their stake.
- Teva Pharmaceutical IndustriesTEVA14.7% of the fund-27%
- CarvanaCVNA13.2% of the fund-27%
- VeonVEON5.9% of the fund-13%
- SLB LimitedSLB4.4% of the fund-19%
- Novagold ResourcesNG4.1% of the fund-14%
- ValarisVAL3.8% of the fund-35%
- Sibanye StillwaterSBSW3.5% of the fund-3%
- First Majestic SilverAG1.9% of the fund-47%
- Joby AviationJOBY0.5% of the fund-36%
- Intuitive SurgicalISRG0.4% of the fund-62%
- Pony AIPONY0.3% of the fund-45%
- Recursion PharmaceuticalsRXRX0.2% of the fund-62%
Sold out
Sold their entire stake.
- Vaneck ETF TrustGDXJ-100%
- ServiceNowNOW-100%
- APi GroupAPG-100%
- Amazon.comAMZN-100%
- MicrosoftMSFT-100%
- Rocket CompaniesRKT-100%
- KKRKKR-100%
- Blue Owl CapitalOWL-100%
- Alibaba Group HldgBABA-100%
Holdings
- VeonVEON
- Share
- 5.9%
- Value
- $275m
- Shares
- 5,265,123
-13%
- First Majestic SilverAG
- Share
- 1.9%
- Value
- $90m
- Shares
- 5,334,603
-47%
- Sunshine Silver Mining & RefiningSSMR
- Share
- 0.6%
- Value
- $26m
- Shares
- 2,000,000
New
- Fervo EnergyFRVO
- Share
- 0.3%
- Value
- $15m
- Shares
- 502,584
New
- Pony AIPONY
- Share
- 0.3%
- Value
- $13m
- Shares
- 1,817,066
-45%
- Novagold Resources
- Share
- 0.2%
- Value
- $11m
- Shares
- 1,900,000
New
- EnviriNVRI
- Share
- 0.1%
- Value
- $5m
- Shares
- 212,657
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Teva Pharmaceutical IndustriesTEVA | 14.7% | $685m | 20,205,943 | -27% |
| CarvanaCVNA | 13.2% | $611m | 9,283,819 | -27% |
| Molina HealthcareMOH | 12.4% | $574m | 2,511,490 | New |
| Paramount SkydancePSKY | 9.8% | $456m | 46,061,363 | Held |
| Range ResourcesRRC | 8.8% | $411m | 11,045,066 | +54% |
| VeonVEON | 5.9% | $275m | 5,265,123 | -13% |
| SLB LimitedSLB | 4.4% | $206m | 4,391,097 | -19% |
| Novagold ResourcesNG | 4.1% | $188m | 31,531,500 | -14% |
| ValarisVAL | 3.8% | $175m | 2,411,493 | -35% |
| Sibanye StillwaterSBSW | 3.5% | $162m | 19,075,936 | -3% |
| Taiwan Semiconductor ManufacturingTSM | 3.2% | $147m | 308,743 | +11% |
| NvidiaNVDA | 2.9% | $134m | 667,710 | +9% |
| First Majestic SilverAG | 1.9% | $90m | 5,334,603 | -47% |
| Tempus AITEM | 1.8% | $82m | 1,415,766 | Held |
| CloudflareNET | 1.6% | $74m | 300,023 | Held |
| Aurora InnovationAUR | 1.4% | $66m | 9,722,567 | Held |
| Nebius GroupNBIS | 1.2% | $57m | 205,661 | +60% |
| ModernaMRNA | 1.2% | $53m | 763,907 | Held |
| MercadoLibreMELI | 0.9% | $41m | 24,040 | Held |
| TeslaTSLA | 0.6% | $29m | 70,039 | Held |
| Sunshine Silver Mining & RefiningSSMR | 0.6% | $26m | 2,000,000 | New |
| Joby AviationJOBY | 0.5% | $21m | 2,405,253 | -36% |
| Intuitive SurgicalISRG | 0.4% | $20m | 49,717 | -62% |
| Fervo EnergyFRVO | 0.3% | $15m | 502,584 | New |
| Pony AIPONY | 0.3% | $13m | 1,817,066 | -45% |
| Novagold Resources | 0.2% | $11m | 1,900,000 | New |
| Recursion PharmaceuticalsRXRX | 0.2% | $8m | 2,206,661 | -62% |
| EnviriNVRI | 0.1% | $5m | 212,657 | New |
| DuolingoDUOL | <0.1% | $5m | 40,045 | Held |
| Klarna GroupKLAR | <0.1% | $4m | 188,675 | New |
| Harmony Gold MiningHMY | <0.1% | $2m | 161,787 | Held |
Options (1)
- SLB LimitedSLB
- Type
- Call
- Value
- $19m
- Contracts
- 410,000
| Company | Type | Value | Contracts |
|---|---|---|---|
| SLB LimitedSLB | Call | $19m | 410,000 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 0.1% since 30 June 2025.
Where the money is
Health care28.8%
Energy17.0%
Retail & consumer13.9%
Technology12.9%
Materials10.1%
Media & telecom9.8%
Industrials0.5%
Utilities0.4%
Financial services0.1%
Other6.4%
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.