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Two Creeks Capital Management, LP

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13F filer, CIK 1606430, New York, NY

Two Creeks Capital Management, LP reported $1,525,950,249 across 27 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 57.1% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-003357

Period
2025-06-30
Reported value
$1.53B
Holdings
27
Top 10 weight
57.1%
New
6
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
TEAMnew+243,585$49.5M
MSFTnew+89,471$44.5M
TLNadded+142,652$41.5M
ASMLadded+38,543$30.9M
TYLnew+47,504$28.2M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
ADBEexited-210,203-$80.6M
KLACreduced-67,041-$60.1M
ICLRexited-276,531-$48.4M
EQTreduced-515,376-$30.1M
WINGreduced-85,116-$28.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001172661-25-003357, largest first. % of portfolio is the value over $1,504,365,580, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
FNDFLOOR & DECOR HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,587,590 shares; 2025Q1: 1,768,859 shares; 2025Q2: 1,619,457 shares 1,619,457$123M8.18%-149,402Timeline
TLNTALEN ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: 194,233 shares; 2025Q2: 336,885 shares 336,885$98M6.51%+142,652Timeline
UBERUBER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,134,980 shares; 2025Q1: 1,070,853 shares; 2025Q2: 969,003 shares 969,003$90.4M6.01%-101,850Timeline
FLUTFLUTTER ENTMT PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 106,198 shares; 2025Q1: 231,120 shares; 2025Q2: 289,455 shares 289,455$82.7M5.5%+58,335Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 521,074 shares; 2025Q1: 310,673 shares; 2025Q2: 230,958 shares 230,958$82M5.45%-79,715Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,166,816 shares; 2025Q1: 954,082 shares; 2025Q2: 879,163 shares 879,163$80.7M5.36%-74,919Timeline
LOWLOWES COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 502,276 shares; 2025Q1: 419,163 shares; 2025Q2: 356,030 shares 356,030$79M5.25%-63,133Timeline
CMGCHIPOTLE MEXICAN GRILL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,710,250 shares; 2025Q1: 1,894,950 shares; 2025Q2: 1,400,372 shares 1,400,372$78.6M5.23%-494,578Timeline
ASMLASML HLDG NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 81,455 shares; 2025Q1: 52,187 shares; 2025Q2: 90,730 shares 90,730$72.7M4.83%+38,543Timeline
EQTEQT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,098,617 shares; 2025Q1: 1,747,087 shares; 2025Q2: 1,231,711 shares 1,231,711$71.8M4.77%-515,376Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 2,768,663 shares; 2025Q1: 3,049,882 shares; 2025Q2: 2,206,297 shares 2,206,297$66.1M4.39%-843,585Timeline
ABNBAIRBNB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 553,703 shares; 2025Q1: 562,525 shares; 2025Q2: 484,784 shares 484,784$64.2M4.26%-77,741Timeline
WINGWINGSTOP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: 271,927 shares; 2025Q2: 186,811 shares 186,811$62.9M4.18%-85,116Timeline
IDXXIDEXX LABS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 69,110 shares; 2025Q1: 160,254 shares; 2025Q2: 114,459 shares 114,459$61.4M4.08%-45,795Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 127,979 shares; 2025Q1: 110,188 shares; 2025Q2: 109,214 shares 109,214$61.4M4.08%-974Timeline
PLNTPLANET FITNESS MASTER ISSUERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,069,283 shares; 2025Q1: 761,455 shares; 2025Q2: 540,979 shares 540,979$59M3.92%-220,476Timeline
HDBHDFC BANK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 952,645 shares; 2025Q1: 954,614 shares; 2025Q2: 665,970 shares 665,970$51.1M3.39%-288,644Timeline
TEAMATLASSIAN CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 243,585 shares 243,585$49.5M3.29%newTimeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 89,471 shares 89,471$44.5M2.96%newTimeline
EXEEXPAND ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 347,105 shares; 2025Q1: 403,995 shares; 2025Q2: 372,278 shares 372,278$43.5M2.89%-31,717Timeline
TYLTYLER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 47,504 shares 47,504$28.2M1.87%newTimeline
KLACKLA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 94,113 shares; 2025Q1: 96,130 shares; 2025Q2: 29,089 shares 29,089$26.1M1.73%-67,041Timeline
MLMMARTIN MARIETTA MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: 78,493 shares; 2025Q2: 39,913 shares 39,913$21.9M1.46%-38,580Timeline
IBNICICI BK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: 115,114 shares; 2025Q2: 115,114 shares 115,114$3.87M0.26%0Timeline
RTORENTOKIL INITIAL PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 79,590 shares 79,590$1.91M0.13%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
IRDMIRIDIUM COMMUNICATIONS INC COMput525,700$15.9Mnew
SAMBOSTON BEER INC Stockput30,000$5.72Mnew

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ADBEADOBE INC210,203$80.6Mshares
ICLRICON PUB LTD CO276,531$48.4Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-25-003357 base2025-08-14acceptance time not in the bulk data set