SRS Investment Management (Karthik Sarma) latest 13F portfolio: 33 holdings worth $10.7B as of Q2 2026.
Backtested since 2020: mirroring SRS Investment Management's reported 13F equity holdings each quarter would have returned +236.5% versus +186.6%for the S&P 500 (+21.1% annualized). See the Performance tab for the full equity curve.
Investor: Karthik Sarma
Number of Assets: 33
Reporting Period: Q2 - 2026
Holdings at Report: $10,681,555,928
Return $ Since Report: -$971,793,434
Return % Since Report: -9.10%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Burlington Stores Inc. (BURL) | Equity | -7.05% | 1,075,291 | 3.19% | $316.80 | $256.85 | $340,652,189 | $276,188,493 | -$64,463,696 | -18.92% |
| Avis Budget Group Inc. (CAR) | Equity | 0% | 17,430,882 | 24.12% | $147.83 | $107.73 | $2,576,807,286 | $1,877,828,918 | -$698,978,368 | -27.13% |
| Five Below Inc. (FIVE) | Equity | +52.89% | 1,105,109 | 1.86% | $179.79 | $232.28 | $198,687,547 | $256,694,719 | +$58,007,172 | +29.20% |
| Sandisk Corp (SNDK) | Equity | +0.79% | 35,374 | 0.75% | $2,273.73 | $1,887.04 | $80,430,925 | $66,752,153 | -$13,678,772 | -17.01% |
| Carmax Inc. (KMX) | Equity | +4.80% | 5,922,862 | 2.93% | $52.89 | $56.84 | $313,260,171 | $336,655,476 | +$23,395,305 | +7.47% |
| Fermi INC (FRMI) | Equity | +100% | 20,205,579 | 1.73% | $9.16 | $5.14 | $185,083,104 | $103,856,676 | -$81,226,428 | -43.89% |
| Nvidia Corp. (NVDA) | Equity | -0.02% | 2,500,000 | 4.68% | $200.09 | $228.87 | $500,225,000 | $572,175,000 | +$71,950,000 | +14.38% |
| Soundhound Ai Inc. (SOUN) | Equity | +100% | 1,019,072 | 0.06% | $6.47 | $6.12 | $6,593,396 | $6,236,721 | -$356,675 | -5.41% |
| Trip.Com Group Limited (TCOM) | Equity | +0.75% | 763,477 | 0.28% | $39.84 | $40.85 | $30,416,924 | $31,188,035 | +$771,111 | +2.54% |
| Warby Parker Inc. (WRBY) | Equity | +0.98% | 1,453,523 | 0.41% | $30.34 | $22.94 | $44,099,888 | $33,343,818 | -$10,756,070 | -24.39% |
| Advanced Micro Devices Inc. (AMD) | Equity | -39.87% | 867,370 | 4.72% | $580.91 | $623.77 | $503,863,907 | $541,039,385 | +$37,175,478 | +7.38% |
| Celestica Inc. (CLS) | Equity | -10.31% | 911,927 | 3.11% | $364.80 | $356.09 | $332,670,970 | $324,728,085 | -$7,942,885 | -2.39% |
| Comcast Corp. (CMCSA) | Equity | +1.16% | 984,257 | 0.23% | $24.55 | $22.42 | $24,163,509 | $22,067,042 | -$2,096,467 | -8.68% |
| Elevance Health Inc. (ELV) | Equity | +3.99% | 61,945 | 0.22% | $386.73 | $402.43 | $23,955,990 | $24,928,526 | +$972,536 | +4.06% |
| Hut 8 Corp. (HUT) | Equity | -67.58% | 1,000,000 | 1.08% | $115.45 | $106.61 | $115,445,000 | $106,610,000 | -$8,835,000 | -7.65% |
| Netflix Inc. (NFLX) | Equity | 0% | 15,184,530 | 10.15% | $71.40 | $72.16 | $1,084,175,442 | $1,095,715,685 | +$11,540,243 | +1.06% |
| Planet Fitness Inc. (PLNT) | Equity | +0.63% | 4,917,311 | 2.40% | $52.17 | $42.60 | $256,536,115 | $209,477,449 | -$47,058,666 | -18.34% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | -48.77% | 261,301 | 1.17% | $477.57 | $452.00 | $124,789,519 | $118,108,052 | -$6,681,467 | -5.35% |
| United Airlines Holdings Inc. (UAL) | Equity | +1.04% | 2,942,727 | 3.75% | $135.99 | $115.21 | $400,181,445 | $339,031,578 | -$61,149,867 | -15.28% |
| Coherent Corp. (COHR) | Equity | +100% | 929,963 | 3.43% | $394.47 | $310.39 | $366,842,505 | $288,651,216 | -$78,191,289 | -21.31% |
| Credo Technology Group Holding Ltd (CRDO) | Equity | +2.71% | 2,573,808 | 6.55% | $271.95 | $192.56 | $699,947,086 | $495,612,468 | -$204,334,618 | -29.19% |
| Humana Inc. (HUM) | Equity | +100% | 33,282 | 0.12% | $397.22 | $372.00 | $13,220,276 | $12,380,904 | -$839,372 | -6.35% |
| Mongodb Inc. (MDB) | Equity | +40.17% | 738,611 | 2.32% | $335.90 | $427.69 | $248,099,435 | $315,896,539 | +$67,797,104 | +27.33% |
| Spotify Technology S.A. (SPOT) | Equity | +0.38% | 245,475 | 1.06% | $459.13 | $501.30 | $112,704,937 | $123,056,618 | +$10,351,681 | +9.18% |
| Twilio Inc. (TWLO) | Equity | -47.89% | 1,075,683 | 2.08% | $206.33 | $284.53 | $221,945,673 | $306,064,084 | +$84,118,411 | +37.90% |
| Airbnb Inc. (ABNB) | Equity | -64.68% | 627,405 | 0.84% | $143.10 | $161.81 | $89,781,656 | $101,520,403 | +$11,738,747 | +13.07% |
| Charles River Laboratories International Inc. (CRL) | Equity | +100% | 187,384 | 0.40% | $226.79 | $285.11 | $42,496,817 | $53,425,052 | +$10,928,235 | +25.72% |
| Coupang Inc. (CPNG) | Equity | +0.95% | 1,127,533 | 0.18% | $17.37 | $14.61 | $19,585,248 | $16,473,257 | -$3,111,991 | -15.89% |
| Hesai Group (HSAI) | Equity | +0.61% | 563,130 | 0.10% | $18.22 | $17.10 | $10,260,229 | $9,629,523 | -$630,706 | -6.15% |
| Meta Platforms Inc. (META) | Equity | +1.01% | 727,009 | 3.83% | $563.29 | $736.60 | $409,516,900 | $535,511,194 | +$125,994,294 | +30.77% |
| Roblox Corp. (RBLX) | Equity | +97.88% | 13,063,442 | 6.65% | $54.38 | $49.87 | $710,389,976 | $651,473,853 | -$58,916,123 | -8.29% |
| Tapestry Inc. (TPR) | Equity | -19.58% | 4,062,897 | 5.57% | $146.38 | $112.59 | $594,726,863 | $457,441,573 | -$137,285,290 | -23.08% |
| Tesla Inc. (TSLA) | Call | +100% | 315,200 | N/A | $420.60 | N/A | $132,573,120 | N/A | N/A | N/A |