Tenere Capital
NEW YORK, NYfiles as Tenere Capital LLC
$126m in 23 US stocks at the end of 30 June 2026. The top 10 are 60.1% of the money. It changed about 42.4% of the portfolio this quarter.
Value
$126m
Stocks
23
Top 10 share
60.1%
Turnover
42.4%
What changed this quarter
New
Bought for the first time this quarter.
- Hilton Worldwide HoldingsHLT5.1% of the fund
- Vail ResortsMTN4.4% of the fund
- Cisco SystemsCSCO4.2% of the fund
- Thermo Fisher ScientificTMO3.6% of the fund
- Capital One FinancialCOF3.6% of the fund
- UnitedHealth GroupUNH3.0% of the fund
- EquinixEQIX2.5% of the fund
- DigitalOcean HoldingsDOCN2.4% of the fund
Added
Bought more of a stock they already held.
- Goldman Sachs GroupGS6.2% of the fund+34%
- CSXCSX6.1% of the fund+72%
- VisaV4.9% of the fund+26%
- AlphabetGOOGL4.4% of the fund+20%
- Amazon.comAMZN3.3% of the fund+12%
Cut
Sold some of their stake.
- NvidiaNVDA10.6% of the fund-14%
- General ElectricGE7.8% of the fund-21%
- Applied MaterialsAMAT5.9% of the fund-37%
- Taiwan Semiconductor ManufacturingTSM4.6% of the fund-57%
- AppleAAPL4.4% of the fund-58%
- Eli LillyLLY3.5% of the fund-45%
- Meta PlatformsMETA2.7% of the fund-73%
- ShopifySHOP2.3% of the fund-37%
- ASML Holding NVASML2.3% of the fund-82%
- Analog DevicesADI2.2% of the fund-65%
Sold out
Sold their entire stake.
- BlackRockBLK-100%
- CaterpillarCAT-100%
- IntelINTC-100%
- GE VernovaGEV-100%
- MicrosoftMSFT-100%
- Coinbase GlobalCOIN-100%
- Klarna GroupKLAR-100%
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| NvidiaNVDA | 10.6% | $13m | 66,733 | -14% |
| General ElectricGE | 7.8% | $10m | 26,403 | -21% |
| Goldman Sachs GroupGS | 6.2% | $8m | 7,774 | +34% |
| CSXCSX | 6.1% | $8m | 160,470 | +72% |
| Applied MaterialsAMAT | 5.9% | $7m | 10,332 | -37% |
| Hilton Worldwide HoldingsHLT | 5.1% | $6m | 19,426 | New |
| VisaV | 4.9% | $6m | 18,104 | +26% |
| Taiwan Semiconductor ManufacturingTSM | 4.6% | $6m | 12,248 | -57% |
| Vail ResortsMTN | 4.4% | $6m | 40,724 | New |
| AlphabetGOOGL | 4.4% | $5m | 15,336 | +20% |
| AppleAAPL | 4.4% | $5m | 18,925 | -58% |
| Cisco SystemsCSCO | 4.2% | $5m | 44,677 | New |
| Thermo Fisher ScientificTMO | 3.6% | $5m | 9,127 | New |
| Capital One FinancialCOF | 3.6% | $5m | 22,805 | New |
| Eli LillyLLY | 3.5% | $4m | 3,642 | -45% |
| Amazon.comAMZN | 3.3% | $4m | 17,272 | +12% |
| UnitedHealth GroupUNH | 3.0% | $4m | 9,122 | New |
| Meta PlatformsMETA | 2.7% | $3m | 6,023 | -73% |
| EquinixEQIX | 2.5% | $3m | 2,998 | New |
| DigitalOcean HoldingsDOCN | 2.4% | $3m | 18,896 | New |
| ShopifySHOP | 2.3% | $3m | 25,691 | -37% |
| ASML Holding NVASML | 2.3% | $3m | 1,456 | -82% |
| Analog DevicesADI | 2.2% | $3m | 6,889 | -65% |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 67.8% since 30 June 2025.
Where the money is
Technology36.6%
Industrials16.2%
Financial services14.8%
Retail & consumer12.8%
Health care10.1%
Media & telecom7.0%
Real estate2.5%
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.