Karani Asset Management 13F annual report

Karani Asset Management is an investment fund managing more than $69.4 billion ran by Toni Martucci. There are currently 35 companies in Mr. Martucci’s portfolio. The largest investments include Apple Inc and HubSpot Inc, together worth $9.05 billion.

Limited to 30 biggest holdings

$69.4 billion Assets Under Management (AUM)

As of 7th November 2023, Karani Asset Management’s top holding is 26,570 shares of Apple Inc currently worth over $4.55 billion and making up 6.6% of the portfolio value. Relative to the number of outstanding shares of Apple Inc, Karani Asset Management owns more than approximately 0.1% of the company. In addition, the fund holds 9,129 shares of HubSpot Inc worth $4.5 billion, whose value fell approximately 0.1% in the past six months. The third-largest holding is Regeneron Pharmaceuticals worth $4.43 billion and the next is RLI worth $3.7 billion, with 27,256 shares owned.

Currently, Karani Asset Management's portfolio is worth at least $69.4 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Karani Asset Management

The Karani Asset Management office and employees reside in New York, New York. According to the last 13-F report filed with the SEC, Toni Martucci serves as the Chief Compliance Officer at Karani Asset Management.

Recent trades

In the most recent 13F filing, Karani Asset Management revealed that it had opened a new position in Steel Dynamics and bought 14,383 shares worth $1.54 billion. This means they effectively own approximately 0.1% of the company. Steel Dynamics makes up 50.0% of the fund's Materials sector allocation and has grown its share price by 7.0% in the past year.

The investment fund also strengthened its position in Apple Inc by buying 2,396 additional shares. This makes their stake in Apple Inc total 26,570 shares worth $4.55 billion. Apple Inc soared 24.6% in the past year.

On the other hand, there are companies that Karani Asset Management is getting rid of from its portfolio. Karani Asset Management closed its position in Palantir Technologies on 14th November 2023. It sold the previously owned 407,977 shares for $3.45 billion. Toni Martucci also disclosed a decreased stake in HubSpot Inc by 0.5%. This leaves the value of the investment at $4.5 billion and 9,129 shares.

One of the smallest hedge funds

The two most similar investment funds to Karani Asset Management are Surience Private Wealth and New York State Common Retirement Fund. They manage $69.4 billion and $69.6 billion respectively.

Toni Martucci investment strategy

Karani Asset Management’s portfolio is diversified across 8 sectors. Currently, their heaviest sector is Technology — making up 30.4% of the total portfolio value. The fund focuses on investments in the United States as 68.6% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 66% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $279 billion.

The complete list of Karani Asset Management trades based on 13F SEC filings

These positions were updated on November 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Apple Inc	9.91% 26,570	$4,549,050,000	6.55%
HubSpot Inc	45.54% 9,129	$4,496,033,000	6.47%
Regeneron Pharmaceuticals, Inc.	31.71% 5,378	$4,425,879,000	6.37%
RLI Corp.	17.68% 27,256	$3,703,818,000	5.33%
Palantir Technologies Inc.	Closed 407,977	$3,447,406,000
Costco Whsl Corp New	17.02% 5,860	$3,310,666,000	4.77%
Deere & Co.	26.15% 8,675	$3,273,772,000	4.71%
Intuit Inc	35.50% 5,595	$2,858,709,000	4.12%
Adobe Inc	42.34% 5,466	$2,787,113,000	4.01%
NVIDIA Corp	62.46% 6,358	$2,765,666,000	3.98%
Microsoft Corporation	1.53% 8,739	$2,759,339,000	3.97%
Eog Res Inc	32.66% 21,745	$2,756,396,000	3.97%
Cadence Design System Inc	52.70% 11,725	$2,747,168,000	3.96%
KKR & Co. Inc	34.87% 43,017	$2,649,847,000	3.82%
Pulte Group Inc	33.68% 32,750	$2,425,138,000	3.49%
Texas Instrs Inc	33.39% 14,128	$2,246,493,000	3.23%
Novo-nordisk A S	2.01% 24,330	$2,212,570,000	3.19%
American Express Co.	21.00% 14,075	$2,099,849,000	3.02%
Markel Group Inc	33.84% 1,396	$2,055,596,000	2.96%
Alnylam Pharmaceuticals Inc	26.48% 11,555	$2,046,391,000	2.95%
NVR Inc.	43.57% 307	$1,830,733,000	2.64%
Procore Technologies, Inc.	39.55% 27,693	$1,808,907,000	2.60%
Alphabet Inc	142.58% 13,621	$1,782,444,000	2.57%
Steel Dynamics Inc.	Opened 14,383	$1,542,145,000	2.22%
Nucor Corp.	Opened 9,853	$1,540,517,000	2.22%
Ishares Tr	Opened 2,852	$1,224,734,000	1.76%
ServiceNow Inc	49.72% 1,891	$1,056,993,000	1.52%
First Rep Bk San Francisco C	Closed 43,358	$606,578,000
MongoDB Inc	Closed 2,489	$580,236,000
JPMorgan Chase & Co.	Opened 4,000	$580,080,000	0.84%
Sprout Social, Inc.	Closed 8,799	$535,683,000
Snowflake Inc.	Closed 3,421	$527,826,000
Airbnb, Inc.	15.57% 3,052	$418,765,000	0.60%
Salesforce Inc	Closed 1,869	$373,389,000
Box Inc	Closed 13,779	$369,139,000
Advanced Micro Devices Inc.	Opened 3,122	$321,004,000	0.46%
Asana, Inc.	83.03% 16,232	$297,208,000	0.43%
Blackrock Inc.	Closed 349	$233,523,000
International Business Machs	Opened 1,500	$210,450,000	0.30%
Atlassian Corporation	81.95% 917	$184,785,000	0.27%
Union Pac Corp	Opened 900	$183,267,000	0.26%
GitLab Inc.	Closed 5,291	$181,428,000
Merck & Co Inc	Opened 1,536	$158,131,000	0.23%
Trane Technologies plc	Opened 660	$133,921,000	0.19%
Zscaler Inc	Closed 904	$105,614,000
No transactions found
Showing first 500 out of 45 holdings