SRS Investment Management (Karthik Sarma) latest 13F portfolio: 29 holdings worth $9.5B as of Q1 2026.
Backtested since 2020: mirroring SRS Investment Management's reported 13F equity holdings each quarter would have returned +260.0% versus +184.6%for the S&P 500 (+22.9% annualized). See the Performance tab for the full equity curve.
Investor: Karthik Sarma
Number of Assets: 29
Reporting Period: Q1 - 2026
Holdings at Report: $9,465,975,502
Return $ Since Report: +$1,156,063,018
Return % Since Report: +12.21%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Planet Fitness Inc. (PLNT) | Equity | +0.18% | 4,886,522 | 3.84% | $74.38 | $56.27 | $363,459,506 | $274,940,160 | -$88,519,346 | -24.35% |
| Spotify Technology S.A. (SPOT) | Equity | +66.24% | 244,547 | 1.25% | $484.91 | $490.34 | $118,583,286 | $119,911,176 | +$1,327,890 | +1.12% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | +0.26% | 510,073 | 1.82% | $337.95 | $416.60 | $172,379,170 | $212,497,942 | +$40,118,772 | +23.27% |
| Twilio Inc. (TWLO) | Equity | +14.04% | 2,064,408 | 2.74% | $125.82 | $192.01 | $259,743,815 | $396,376,658 | +$136,632,843 | +52.60% |
| Advanced Micro Devices Inc. (AMD) | Equity | -11.80% | 1,442,552 | 3.10% | $203.43 | $484.63 | $293,458,353 | $699,103,976 | +$405,645,623 | +138.23% |
| Airbnb Inc. (ABNB) | Equity | -29.50% | 1,776,551 | 2.37% | $126.28 | $151.47 | $224,342,860 | $269,094,180 | +$44,751,320 | +19.95% |
| Avis Budget Group Inc. (CAR) | Equity | 0% | 17,430,882 | 26.86% | $145.85 | $139.40 | $2,542,294,140 | $2,429,777,796 | -$112,516,344 | -4.43% |
| Burlington Stores Inc. (BURL) | Equity | +0.27% | 1,156,869 | 3.98% | $325.38 | $369.21 | $376,422,035 | $427,127,603 | +$50,705,568 | +13.47% |
| Carmax Inc. (KMX) | Equity | +0.25% | 5,651,674 | 2.48% | $41.58 | $56.73 | $234,996,605 | $320,619,466 | +$85,622,861 | +36.44% |
| Celestica Inc. (CLS) | Equity | +0.25% | 1,016,740 | 3.03% | $281.68 | $370.94 | $286,395,323 | $377,149,536 | +$90,754,213 | +31.69% |
| Comcast Corp. (CMCSA) | Equity | +0.34% | 972,985 | 0.30% | $28.71 | $24.43 | $27,934,399 | $23,770,024 | -$4,164,375 | -14.91% |
| Coupang Inc. (CPNG) | Equity | +100% | 1,116,899 | 0.22% | $18.88 | $16.01 | $21,087,053 | $17,875,968 | -$3,211,085 | -15.23% |
| Credo Technology Group Holding Ltd (CRDO) | Equity | +2143.81% | 2,505,841 | 2.48% | $93.87 | $231.45 | $235,223,295 | $579,964,370 | +$344,741,075 | +146.56% |
| Delta Air Lines Inc. (DAL) | Equity | +6.00% | 780,437 | 0.55% | $66.48 | $94.05 | $51,883,452 | $73,400,100 | +$21,516,648 | +41.47% |
| Elevance Health Inc. (ELV) | Equity | -59.47% | 59,568 | 0.18% | $292.75 | $387.56 | $17,438,532 | $23,086,174 | +$5,647,642 | +32.39% |
| Five Below Inc. (FIVE) | Equity | +100% | 722,826 | 1.74% | $228.48 | $221.74 | $165,151,284 | $160,279,437 | -$4,871,847 | -2.95% |
| Global-E Online Ltd. (GLBE) | Equity | +37.94% | 1,236,946 | 0.40% | $30.85 | $41.56 | $38,159,784 | $51,401,291 | +$13,241,507 | +34.70% |
| Hesai Group (HSAI) | Equity | +0.17% | 559,706 | 0.11% | $19.12 | $18.08 | $10,701,579 | $10,119,484 | -$582,095 | -5.44% |
| Hut 8 Corp. (HUT) | Equity | +7.50% | 3,084,905 | 1.53% | $46.91 | $97.55 | $144,712,894 | $300,917,058 | +$156,204,164 | +107.94% |
| Mongodb Inc. (MDB) | Equity | +0.25% | 526,942 | 1.36% | $244.77 | $377.11 | $128,979,593 | $198,715,098 | +$69,735,505 | +54.07% |
| United Airlines Holdings Inc. (UAL) | Equity | +0.30% | 2,912,484 | 2.83% | $92.07 | $133.80 | $268,152,402 | $389,690,359 | +$121,537,957 | +45.32% |
| Meta Platforms Inc. (META) | Equity | -3.20% | 719,729 | 4.35% | $572.13 | $586.06 | $411,778,553 | $421,804,378 | +$10,025,825 | +2.43% |
| Netflix Inc. (NFLX) | Equity | 0% | 15,184,530 | 15.42% | $96.15 | $73.89 | $1,459,992,560 | $1,121,908,999 | -$338,083,561 | -23.16% |
| Nvidia Corp. (NVDA) | Equity | -24.24% | 2,500,525 | 4.61% | $174.40 | $219.85 | $436,091,560 | $549,727,919 | +$113,636,359 | +26.06% |
| Roblox Corp. (RBLX) | Equity | +124.70% | 6,601,674 | 3.94% | $56.56 | $36.32 | $373,390,681 | $239,772,800 | -$133,617,881 | -35.79% |
| Sandisk Corp (SNDK) | Equity | +100% | 35,095 | 0.24% | $635.34 | $1,419.00 | $22,297,257 | $49,799,805 | +$27,502,548 | +123.34% |
| Trip.Com Group Limited (TCOM) | Equity | +0.22% | 757,817 | 0.40% | $49.79 | $46.05 | $37,731,708 | $34,893,684 | -$2,838,024 | -7.52% |
| Tapestry Inc. (TPR) | Equity | +0.12% | 5,051,844 | 7.53% | $141.11 | $159.43 | $712,865,707 | $805,390,230 | +$92,524,523 | +12.98% |
| Warby Parker Inc. (WRBY) | Equity | +0.28% | 1,439,398 | 0.32% | $21.07 | $29.82 | $30,328,116 | $42,922,848 | +$12,594,732 | +41.53% |