13F portfolio / Long-term, concentrated
SRS Investment
Karthik Sarma (founder)
Karthik Sarma founded SRS Investment Management in 2006, after five years at Tiger Global Management.
The firm is based in New York, NY, according to its SEC filings.
Its earliest 13F holdings report on SEC EDGAR was filed in February 2011.
- Reported 13F value
- $10.7B
- Positions
- 32
- Est. 1-yearEstimate
- -7.5%SPY +15.7%
- Est. 3-year, annualizedEstimate
- +12.2%SPY +22.8%
As of Jun 30, 2026 · filed Aug 14, 2026
Holdings
5 new · 15 added · 8 trimmed · 4 unchanged · 2 sold out
| 1 | CAR on Yahoo Finance (opens in a new tab) | Avis Budget Group IncCOM | 24.1% | $2.6B | 17,430,882 | Unchanged | $181.37* | $106.37 | -41.4% |
| 2 | NFLX on Yahoo Finance (opens in a new tab) | Netflix Inc.COM | 10.1% | $1.1B | 15,184,530 | Unchanged | $101.10* | $70.36 | -30.4% |
| 3 | RBLX on Yahoo Finance (opens in a new tab) | Roblox CorpCL A | 6.7% | $710M | 13,063,442 | Added +97.9% | $67.32 | $49.38 | -26.6% |
| 4 | CRDO on Yahoo Finance (opens in a new tab) | Credo Technology Group HoldiORDINARY SHARES | 6.6% | $700M | 2,573,808 | Added +2.7% | $125.11 | $171.10 | +36.8% |
| 5 | TPR on Yahoo Finance (opens in a new tab) | Tapestry IncCOM | 5.6% | $595M | 4,062,897 | Trimmed -19.6% | $74.00 | $120.21 | +62.5% |
| 6 | AMD on Yahoo Finance (opens in a new tab) | Advanced Micro Devices IncCOM | 4.7% | $504M | 867,370 | Trimmed -39.9% | $180.09 | $534.28 | +196.7% |
| 7 | NVDA on Yahoo Finance (opens in a new tab) | Nvidia CorporationCOM | 4.7% | $500M | 2,500,000 | Unchanged | $135.36 | $215.30 | +59.1% |
| 8 | META on Yahoo Finance (opens in a new tab) | Meta Platforms IncCL A | 3.8% | $410M | 727,009 | Added +1.0% | $328.85* | $706.95 | +115.0% |
| 9 | UAL on Yahoo Finance (opens in a new tab) | United Airls Hldgs IncCOM | 3.7% | $400M | 2,942,727 | Added +1.0% | $61.22 | $96.99 | +58.4% |
| 10 | COHR on Yahoo Finance (opens in a new tab) | Coherent CorpCOM | 3.4% | $367M | 929,963 | New | $353.72 | $235.79 | -33.3% |
| 11 | BURL on Yahoo Finance (opens in a new tab) | Burlington Stores IncCOM | 3.2% | $341M | 1,075,291 | Trimmed -7.1% | $220.63 | $260.55 | +18.1% |
| 12 | CLS on Yahoo Finance (opens in a new tab) | Celestica IncCOM | 3.1% | $333M | 911,927 | Trimmed -10.3% | $141.79 | $304.83 | +115.0% |
| 13 | KMX on Yahoo Finance (opens in a new tab) | Carmax IncCOM | 2.9% | $313M | 5,922,862 | Added +4.8% | $41.19 | $52.64 | +27.8% |
| 14 | PLNT on Yahoo Finance (opens in a new tab) | Planet Fitness Master IssuerCL A | 2.4% | $257M | 4,917,311 | Added +0.6% | $54.90* | $51.04 | -7.0% |
| 15 | MDB on Yahoo Finance (opens in a new tab) | Mongodb IncCL A | 2.3% | $248M | 738,611 | Added +40.2% | $259.96 | $329.86 | +26.9% |
| 16 | TWLO on Yahoo Finance (opens in a new tab) | Twilio IncCL A | 2.1% | $222M | 1,075,683 | Trimmed -47.9% | $123.76 | $238.88 | +93.0% |
| 17 | FIVE on Yahoo Finance (opens in a new tab) | Five Below IncCOM | 1.9% | $199M | 1,105,109 | Added +52.9% | $211.37 | $221.40 | +4.7% |
| 18 | FRMI on Yahoo Finance (opens in a new tab) | Fermi IncCOM | 1.7% | $185M | 20,205,579 | New | $6.32 | $3.17 | -49.8% |
| 19 | TSM on Yahoo Finance (opens in a new tab) | Taiwan Semiconductor ManufacSPONSORED ADS | 1.2% | $125M | 261,301 | Trimmed -48.8% | $89.12* | $413.04 | +363.5% |
| 20 | HUT on Yahoo Finance (opens in a new tab) | Hut 8 CorpCOM | 1.1% | $115M | 1,000,000 | Trimmed -67.6% | $44.78 | $68.77 | +53.6% |
| 21 | SPOT on Yahoo Finance (opens in a new tab) | Spotify Technology S ASHS | 1.1% | $113M | 245,475 | Unchanged | $295.00* | $523.14 | +77.3% |
| 22 | ABNB on Yahoo Finance (opens in a new tab) | Airbnb IncCOM CL A | 0.8% | $90M | 627,405 | Trimmed -64.7% | $124.53 | $171.85 | +38.0% |
| 23 | SNDK on Yahoo Finance (opens in a new tab) | Sandisk CorpCOM | 0.8% | $80M | 35,374 | Added +0.8% | $571.68 | $1328.47 | +132.4% |
| 24 | WRBY on Yahoo Finance (opens in a new tab) | Warby Parker IncCL A COM | 0.4% | $44M | 1,453,523 | Added +1.0% | $21.80 | $23.92 | +9.7% |
| 25 | CRL on Yahoo Finance (opens in a new tab) | Charles Riv Labs Intl IncCOM | 0.4% | $42M | 187,384 | New | $178.08 | $297.68 | +67.2% |
| 26 | TCOM on Yahoo Finance (opens in a new tab) | Trip Com Group LtdADS | 0.3% | $30M | 763,477 | Added +0.7% | $65.08 | $40.08 | -38.4% |
| 27 | CMCSA on Yahoo Finance (opens in a new tab) | Comcast Corp NewCL A | 0.2% | $24M | 984,257 | Added +1.2% | $37.15* | $21.95 | -40.9% |
| 28 | ELV on Yahoo Finance (opens in a new tab) | Elevance Health Inc FormerlyCOM | 0.2% | $24M | 61,945 | Added +4.0% | $387.47 | $428.93 | +10.7% |
| 29 | CPNG on Yahoo Finance (opens in a new tab) | Coupang IncCL A | 0.2% | $20M | 1,127,533 | Added +1.0% | $19.56 | $14.35 | -26.6% |
| 30 | HUM on Yahoo Finance (opens in a new tab) | Humana IncCOM | 0.1% | $13M | 33,282 | New | $284.09 | $417.60 | +47.0% |
| 31 | HSAI on Yahoo Finance (opens in a new tab) | Hesai GroupSPONSORED ADS | 0.1% | $10M | 563,130 | Added +0.6% | $21.87 | $12.58 | -42.5% |
| 32 | SOUN on Yahoo Finance (opens in a new tab) | Soundhound Ai IncCLASS A COM | 0.1% | $7M | 1,019,072 | New | $7.74 | $4.70 | -39.2% |
Sold out since Q1 2026
- DAL on Yahoo Finance (opens in a new tab)Delta Air Lines Inc$52M at Q1 2026
- GLBE on Yahoo Finance (opens in a new tab)Global E Online Ltd$38M at Q1 2026
Estimated, from reported holdings
Quarter by quarter
High-conviction buys (new positions at 3% or more of the portfolio) since Q3 2023: 7. Of 6 with six months of history, 50.0% beat the S&P 500 from the filing date.
Source: SEC Form 13F-HR 0001172661-26-003493, compared with the Q1 2026 report. 1 option rows are excluded from weights. Tickers map from CUSIP via OpenFIGI. Estimated returns weight each position’s next-quarter total return (Yahoo Finance adjusted closes) by its quarter-end value and assume no trades. Estimated cost averages daily adjusted closes in each quarter the share count rose, from Q3 2023 onward (* = held at the start of our data). Price is the latest close.
Important information
Form 13F data is delayed. Managers have up to 45 days after each calendar quarter to file, so holdings shown may have changed materially since the report date. 13F reports cover long positions in US-listed equities and certain other securities only; they exclude short positions, most non-US holdings, cash, bonds and private investments, and managers may request confidential treatment for some positions. Options rows are listed in filings but are not counted in the holdings and weights shown here.
Estimated holdings returns, estimated cost and high-conviction results are hypothetical calculations from quarter-end holdings and public prices, assuming no trades between reports. They are not the actual returns or costs of any fund or manager and do not reflect fees, trading, leverage, shorts or cash. Biographies are drawn from cited public sources. This page is for information only and is not individualized investment advice or a recommendation to buy or sell any security. Gulfstream Capital and its clients may hold positions in securities shown.