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Spyglass Capital Management LLC

Q2 2025 · Filed 2025-08-13
Market Value
$1.7B
+16.4%
Holdings
28
New Purchases
3
Added To
11
Closed
3
Reduced
11
Top 10 Concentration
51.9%
Turnover
21.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NCNO 2.61% 0.00% +2.61% $44M
CDNS 2.34% 0.00% +2.34% $40M
DUOL 1.98% 0.00% +1.98% $34M
HOOD 5.06% 3.78% +1.29% $86M
AFRM 7.10% 5.90% +1.19% $120M
CSGP 3.81% 2.70% +1.11% $65M
MDB 4.27% 3.25% +1.03% $72M
SNOW 6.60% 5.60% +1.01% $112M
ILMN 3.93% 3.05% +0.89% $67M
FOUR 6.01% 5.62% +0.39% $102M
DASH 3.43% 3.08% +0.35% $58M
CYBR 3.10% 2.89% +0.21% $53M
ALAB 3.92% 3.72% +0.20% $66M
APG 5.07% 4.91% +0.16% $86M
ACVA 3.02% 3.02% +0.00% $51M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
WSC 0.00% 3.29% -3.29% $0
FICO 0.00% 2.63% -2.63% $0
SG 3.42% 5.82% -2.39% $58M
GDDY 0.00% 2.19% -2.19% $0
MEDP 4.16% 5.07% -0.91% $70M
KNSL 4.16% 5.06% -0.90% $70M
PCOR 3.62% 4.23% -0.61% $61M
HUBS 3.01% 3.57% -0.56% $51M
EXAS 4.26% 4.69% -0.43% $72M
GLBE 3.28% 3.52% -0.24% $56M
AAON 3.10% 3.33% -0.23% $53M
APP 5.27% 5.50% -0.23% $89M
VEEV 3.48% 3.61% -0.13% $59M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 19 $1.2B 71.9%
Mid Cap 6 $323M 19.1%
Small Cap 3 $153M 9.0%

Portfolio Analytics

Avg Market Cap
$28.3B
Median Market Cap
$15.9B
Avg P/E
70.1
Median P/E
42.1
Avg Dividend Yield
0.00%
Avg Beta
1.48
# Stocks
28
# ETFs / Funds
0

Top Holdings (28 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 AFRM 7.10% 1,740,283 $120M $69.14 $34M -162,142 -8.5%
2 SNOW 6.60% 500,260 $112M $223.77 $30M -57,466 -10.3%
3 FOUR 6.01% 1,027,983 $102M $99.11 $20M +25,653 +2.6%
4 APP 5.27% 255,187 $89M $350.08 $9M -47,037 -15.6%
5 APG 5.07% 2,524,696 $86M $34.03 $14M +523,955 +26.2%
6 HOOD 5.06% 916,631 $86M $93.63 $31M -404,977 -30.6%
7 MDB 4.27% 345,127 $72M $209.99 $25M +75,532 +28.0%
8 EXAS 4.26% 1,358,663 $72M $53.14 $4M -217,971 -13.8%
9 KNSL 4.16% 145,612 $70M $483.90 -$3M -5,809 -3.8%
10 MEDP 4.16% 224,471 $70M $313.86 -$3M -17,675 -7.3%
11 ILMN 3.93% 698,565 $67M $95.41 $22M +139,508 +24.9%
12 ALAB 3.92% 734,570 $66M $90.42 $12M -173,379 -19.1%
13 CSGP 3.81% 803,282 $65M $80.40 $25M +307,424 +62.0%
14 PCOR 3.62% 898,098 $61M $68.42 -$207K -35,789 -3.8%
15 VEEV 3.48% 205,120 $59M $287.98 $6M -22,177 -9.8%
16 DASH 3.43% 235,611 $58M $246.51 $13M -9,501 -3.9%
17 SG 3.42% 3,899,813 $58M $14.88 -$27M +513,643 +15.2%
18 GLBE 3.28% 1,658,211 $56M $33.54 $4M +220,710 +15.3%
19 CYBR 3.10% 129,248 $53M $406.88 $11M +4,737 +3.8%
20 AAON 3.10% 712,356 $53M $73.75 $4M +91,461 +14.7%
21 ACVA 3.02% 3,157,130 $51M $16.22 $7M +39,502 +1.3%
22 HUBS 3.01% 91,780 $51M $556.63 -$986K +630 +0.7%
23 NCNO 2.61% 1,579,924 $44M $27.97 +1,579,924 NEW
24 CDNS 2.34% 128,535 $40M $308.15 +128,535 NEW
25 DUOL 1.98% 81,949 $34M $410.02 +81,949 NEW
26 WSC —% -$48M -1,723,601 -100.0% SOLD
27 GDDY —% -$32M -176,722 -100.0% SOLD
28 FICO —% -$38M -20,782 -100.0% SOLD

New Positions

SymbolValue% Port
NCNO $44M 2.61%
CDNS $40M 2.34%
DUOL $34M 1.98%

Sold Out Positions

SymbolValue% Port
GDDY —%
FICO —%
WSC —%
View SEC EDGAR Filings for Spyglass Capital Management LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms