We are live on
!
Find out more
TC
Tenere Capital Portfolio holdings
AUM
$126M
1-Year Est. Return
42.13%
This Fund
S&P 500
This Quarter
Est. Return
+17.18%
1 Year Est. Return
+42.13%
3 Year Est. Return
+131.42%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$390M
AUM Growth
+$27M
(+7.4%)
Cap. Flow
-$20.1M
Cap. Flow
% of AUM
-5.15%
Top 10 Holdings %
Top 10 Hldgs %
66.82%
Holding
25
New
4
Increased
4
Reduced
5
Closed
6
Avg Time Held
4.1
quarters
Top 10 Avg Time Held
3.8
quarters
Top 20 Avg Time Held
3.9
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Analog Devices
ADI
|
+$21.4M |
| 2 |
Equinix
EQIX
|
+$17.1M |
| 3 |
Uber
UBER
|
+$13.9M |
| 4 |
Meta Platforms (Facebook)
META
|
+$11.6M |
| 5 |
Crown Castle
CCI
|
+$8.96M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Union Pacific
UNP
|
+$19M |
| 2 |
Adobe
ADBE
|
+$13.8M |
| 3 |
Apollo Global Management
APO
|
+$13.1M |
| 4 |
Rockwell Automation
ROK
|
+$12.9M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$11.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 40.03% |
| 2 | Financials | 22.55% |
| 3 | Consumer Discretionary | 12.58% |
| 4 | Communication Services | 9.83% |
| 5 | Real Estate | 6.44% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Meta Platforms (Facebook)
META
$1.84T
| $38.4M | 9.83% |
52,007
+18,800
| +57% | +$11.6M |
2022 Q3
11 quarters
|
|
2
Microsoft
MSFT
$3.88T
| $37.1M | 9.5% |
74,556
+7,400
| +11% | +$3.21M |
2021 Q4
14 quarters
|
|
3
Blackstone
BX
$84.6B
| $28.4M | 7.28% |
190,100
+19,700
| +12% | +$2.71M |
2024 Q1
5 quarters
|
|
4
NVIDIA
NVDA
$5.57T
| $27.9M | 7.14% |
176,477
-42,100
| -19% | -$5.3M |
2024 Q3
3 quarters
|
|
|
5
Analog Devices
ADI
$197B
| $24.5M | 6.28% |
+103,000
| New | +$21.4M |
2025 Q2
0 quarters
|
|
6
Amazon
AMZN
$2.74T
| $23.6M | 6.04% |
107,538
-3,848
| -3% | -$761K |
2024 Q4
2 quarters
|
|
7
Blackrock
BLK
$165B
| $22M | 5.64% |
20,972
| – | – |
2024 Q3
3 quarters
|
|
8
Visa
V
$704B
| $20.1M | 5.16% |
56,695
| – | – |
2021 Q4
14 quarters
|
|
9
Autodesk
ADSK
$48.8B
| $19.7M | 5.04% |
63,600
+21,700
| +52% | +$6.16M |
2024 Q4
2 quarters
|
|
10
Danaher
DHR
$153B
| $19.2M | 4.91% |
97,101
-25,000
| -20% | -$4.85M |
2024 Q1
5 quarters
|
|
11
ServiceNow
NOW
$144B
| $18.1M | 4.63% |
88,000
| – | – |
2025 Q1
1 quarter
|
|
12
Goldman Sachs
GS
$257B
| $17.5M | 4.47% |
24,676
| – | – |
2024 Q4
2 quarters
|
|
|
13
Equinix
EQIX
$99.8B
| $16.1M | 4.12% |
+20,200
| New | +$17.1M |
2025 Q2
0 quarters
|
|
|
14
Uber
UBER
$143B
| $15.7M | 4.03% |
+168,600
| New | +$13.9M |
2025 Q2
0 quarters
|
|
15
Norfolk Southern
NSC
$71.2B
| $14.3M | 3.66% |
55,760
| – | – |
2024 Q2
4 quarters
|
|
16
Apple
AAPL
$4.97T
| $13.3M | 3.41% |
64,805
-24,515
| -27% | -$4.95M |
2024 Q1
5 quarters
|
|
17
Home Depot
HD
$295B
| $13.2M | 3.38% |
35,950
| – | – |
2025 Q1
1 quarter
|
|
18
Nike
NKE
$51.6B
| $12.4M | 3.17% |
174,062
-155,186
| -47% | -$9.32M |
2023 Q4
6 quarters
|
|
|
19
Crown Castle
CCI
$29.3B
| $9.09M | 2.33% |
+88,500
| New | +$8.96M |
2025 Q2
0 quarters
|
|
|
20
Adobe
ADBE
$95.8B
| – | – |
-35,907
| Closed | -$13.8M | – |
|
|
21
Apollo Global Management
APO
$68.1B
| – | – |
-95,791
| Closed | -$13.1M | – |
|
|
22
Alphabet (Google) Class A
GOOGL
$4.26T
| – | – |
-75,983
| Closed | -$11.8M | – |
|
|
23
Rockwell Automation
ROK
$48.2B
| – | – |
-49,815
| Closed | -$12.9M | – |
|
24
TSMC
TSM
$2.38T
| – | – |
-57,500
| Closed | -$9.54M | – |
|
|
25
Union Pacific
UNP
$165B
| – | – |
-80,330
| Closed | -$19M | – |
|
Similar funds
SKK
MCRM
CAM
SPWM
HPM
MIA
MPIA
KC
Tenere Capital's Q2 2025 Portfolio in Review
As of Q2 2025, Tenere Capital held 25 positions worth $390M, up 7.4% from $363M the previous quarter. Its ten largest holdings account for 67% of the portfolio.
Tenere Capital withdrew a net $20.1M in Q2 2025, closing 6 positions and reducing 5 holdings. Its most notable exit was Union Pacific, an estimated $19M position sold in full.
By sector, the portfolio is most concentrated in Technology at 40% of assets, up from 32% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Tenere Capital opened a new position in Analog Devices worth $24.5M.
- Tenere Capital's largest Q2 2025 buy was Analog Devices: 103,000 shares worth $24.5M.
- Tenere Capital added most to Meta Platforms (Facebook) in Q2 2025, an estimated $11.6M increase.
- Tenere Capital's biggest Q2 2025 reduction was Nike, cutting an estimated $9.32M.
- Tenere Capital fully exited Union Pacific in Q2 2025, selling an estimated $19M.
- Tenere Capital's ten largest holdings make up 67% of its $390M portfolio in Q2 2025.
- Tenere Capital opened 4 new positions and closed 6 in Q2 2025.
- Tenere Capital's portfolio value rose 7.4% quarter-over-quarter to $390M.
Based on Tenere Capital's 13F filing for Q2 2025, filed 14 Aug 2025.