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ALKEON CAPITAL MANAGEMENT LLC

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13F filer, CIK 1230239, New York, NY

ALKEON CAPITAL MANAGEMENT LLC reported $67,967,193,098 across 106 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 46.42% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000919574-25-006800

Period
2025-09-30
Reported value
$68B
Holdings
106
Top 10 weight
46.42%
New
15
Sold out
12

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CRHnew+1,750,000$210M
BWXTadded+978,000$180M
APHadded+1,433,650$177M
MSFTadded+250,000$129M
TERadded+940,000$129M

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
GOOGLreduced-2,830,000-$688M
KLACreduced-270,000-$291M
LRCXreduced-2,084,000-$279M
BABAexited-1,625,000-$184M
DELLreduced-1,000,000-$142M

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, Q3 2025

Share positions as resolved from 13F-HR 0000919574-25-006800, largest first. % of portfolio is the value over $22,130,917,310, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,978,504 shares; 2024Q4: 2,875,314 shares; 2025Q1: 2,674,629 shares; 2025Q2: 2,142,629 shares; 2025Q3: 2,059,629 shares 2,059,629$1.51B6.83%-83,000Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,200,994 shares; 2024Q4: 6,150,994 shares; 2025Q1: 6,150,977 shares; 2025Q2: 5,563,668 shares; 2025Q3: 5,263,668 shares 5,263,668$1.47B6.64%-300,000Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,572,316 shares; 2024Q4: 5,224,186 shares; 2025Q1: 5,222,558 shares; 2025Q2: 8,632,558 shares; 2025Q3: 5,802,558 shares 5,802,558$1.41B6.37%-2,830,000Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,964,931 shares; 2024Q4: 7,514,931 shares; 2025Q1: 7,519,899 shares; 2025Q2: 6,274,899 shares; 2025Q3: 6,024,899 shares 6,024,899$1.32B5.98%-250,000Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,728,813 shares; 2024Q4: 1,727,953 shares; 2025Q1: 1,726,176 shares; 2025Q2: 1,726,176 shares; 2025Q3: 1,976,176 shares 1,976,176$1.02B4.63%+250,000Timeline
LRCXLAM RESEARCH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,458,720 shares; 2025Q1: 7,954,456 shares; 2025Q2: 8,504,456 shares; 2025Q3: 6,420,456 shares 6,420,456$860M3.88%-2,084,000Timeline
KLACKLA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 945,835 shares; 2024Q4: 1,005,835 shares; 2025Q1: 1,005,365 shares; 2025Q2: 980,365 shares; 2025Q3: 710,365 shares 710,365$766M3.46%-270,000Timeline
ADIANALOG DEVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,315,237 shares; 2024Q4: 2,315,237 shares; 2025Q1: 2,313,833 shares; 2025Q2: 2,813,833 shares; 2025Q3: 2,813,833 shares 2,813,833$691M3.12%0Timeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,520,000 shares; 2025Q3: 2,297,530 shares 2,297,530$646M2.92%-222,470Timeline
CDNSCADENCE DESIGN SYSTEM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,623,604 shares; 2024Q4: 1,623,604 shares; 2025Q1: 1,622,874 shares; 2025Q2: 1,622,874 shares; 2025Q3: 1,622,874 shares 1,622,874$570M2.58%0Timeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 190,633 shares; 2024Q4: 190,633 shares; 2025Q1: 220,499 shares; 2025Q2: 240,499 shares; 2025Q3: 240,499 shares 240,499$562M2.54%0Timeline
EXPEEXPEDIA GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,576,472 shares; 2024Q4: 1,976,472 shares; 2025Q1: 2,375,276 shares; 2025Q2: 2,475,276 shares; 2025Q3: 2,475,276 shares 2,475,276$529M2.39%0Timeline
QQQINVESCO QQQ TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 849,777 shares; 2024Q4: 849,777 shares; 2025Q1: 849,777 shares; 2025Q2: 849,777 shares; 2025Q3: 849,777 shares 849,777$510M2.31%0Timeline
APHAMPHENOL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,400,000 shares; 2024Q4: 2,400,000 shares; 2025Q1: 2,550,953 shares; 2025Q2: 2,670,953 shares; 2025Q3: 4,104,603 shares 4,104,603$508M2.3%+1,433,650Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,469,452 shares; 2024Q4: 1,469,452 shares; 2025Q1: 1,468,618 shares; 2025Q2: 1,468,618 shares; 2025Q3: 1,468,618 shares 1,468,618$501M2.27%0Timeline
TJXTJX COS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,381,901 shares; 2024Q4: 3,951,901 shares; 2025Q1: 3,449,971 shares; 2025Q2: 3,449,971 shares; 2025Q3: 3,449,971 shares 3,449,971$499M2.25%0Timeline
MLMMARTIN MARIETTA MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 526,198 shares; 2024Q4: 771,198 shares; 2025Q1: 770,351 shares; 2025Q2: 802,351 shares; 2025Q3: 747,351 shares 747,351$471M2.13%-55,000Timeline
VMCVULCAN MATLS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 832,001 shares; 2024Q4: 1,282,001 shares; 2025Q1: 1,338,346 shares; 2025Q2: 1,478,646 shares; 2025Q3: 1,478,646 shares 1,478,646$455M2.06%0Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 778,879 shares; 2024Q4: 778,879 shares; 2025Q1: 778,465 shares; 2025Q2: 778,465 shares; 2025Q3: 778,465 shares 778,465$443M2%0Timeline
TERTERADYNE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,144,017 shares; 2024Q4: 1,544,017 shares; 2025Q1: 1,482,910 shares; 2025Q2: 1,932,910 shares; 2025Q3: 2,872,910 shares 2,872,910$395M1.79%+940,000Timeline
CGCARLYLE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,239,907 shares; 2024Q4: 5,244,455 shares; 2025Q1: 5,241,316 shares; 2025Q2: 5,941,316 shares; 2025Q3: 5,941,316 shares 5,941,316$373M1.68%0Timeline
CEGCONSTELLATION ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,367,554 shares; 2024Q4: 1,267,554 shares; 2025Q1: 891,219 shares; 2025Q2: 1,141,219 shares; 2025Q3: 1,041,219 shares 1,041,219$343M1.55%-100,000Timeline
SNPSSYNOPSYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 668,637 shares; 2024Q4: 668,637 shares; 2025Q1: 668,278 shares; 2025Q2: 668,278 shares; 2025Q3: 668,278 shares 668,278$330M1.49%0Timeline
UBERUBER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,287,885 shares; 2024Q4: 3,462,885 shares; 2025Q1: 3,461,005 shares; 2025Q2: 2,961,005 shares; 2025Q3: 3,361,005 shares 3,361,005$329M1.49%+400,000Timeline
ICEINTERCONTINENTAL EXCHANGE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,801,057 shares; 2024Q4: 1,801,057 shares; 2025Q1: 1,800,310 shares; 2025Q2: 1,800,310 shares; 2025Q3: 1,800,310 shares 1,800,310$303M1.37%0Timeline
VSTVISTRA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,221,890 shares; 2024Q4: 1,546,890 shares; 2025Q1: 356,357 shares; 2025Q2: 1,356,357 shares; 2025Q3: 1,506,357 shares 1,506,357$295M1.33%+150,000Timeline
BWXTBWX TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 600,048 shares; 2025Q3: 1,578,048 shares 1,578,048$291M1.31%+978,000Timeline
PWRQUANTA SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 650,000 shares; 2024Q4: 701,285 shares; 2025Q1: 700,983 shares; 2025Q2: 700,983 shares; 2025Q3: 700,983 shares 700,983$291M1.31%0Timeline
ETRENTERGY CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,274,291 shares; 2025Q2: 2,604,291 shares; 2025Q3: 3,004,291 shares 3,004,291$280M1.27%+400,000Timeline
TDGTRANSDIGM GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 195,791 shares; 2024Q4: 245,791 shares; 2025Q1: 245,611 shares; 2025Q2: 195,611 shares; 2025Q3: 195,611 shares 195,611$258M1.16%0Timeline
DELLDELL TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,146,777 shares; 2024Q4: 2,246,777 shares; 2025Q1: 3,177,809 shares; 2025Q2: 2,562,409 shares; 2025Q3: 1,562,409 shares 1,562,409$222M1%-1,000,000Timeline
GEGE AEROSPACEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: 700,000 shares; 2025Q1: 700,000 shares; 2025Q2: 700,000 shares; 2025Q3: 700,000 shares 700,000$211M0.95%0Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,750,000 shares 1,750,000$210M0.95%newTimeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,276,570 shares; 2024Q4: 13,921,570 shares; 2025Q1: 13,908,535 shares; 2025Q2: 14,698,535 shares; 2025Q3: 14,198,535 shares 14,198,535$184M0.83%-500,000Timeline
EQIXEQUINIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 408,975 shares; 2024Q4: 408,975 shares; 2025Q1: 358,775 shares; 2025Q2: 233,775 shares; 2025Q3: 233,775 shares 233,775$183M0.83%0Timeline
LOWLOWES COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 449,078 shares; 2024Q4: 449,078 shares; 2025Q1: 648,594 shares; 2025Q2: 648,594 shares; 2025Q3: 648,594 shares 648,594$163M0.74%0Timeline
SSNCSS&C TECH HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,316,252 shares; 2024Q4: 1,966,252 shares; 2025Q1: 1,964,916 shares; 2025Q2: 1,964,916 shares; 2025Q3: 1,764,916 shares 1,764,916$157M0.71%-200,000Timeline
CPCANADIAN PACIFIC KANSAS CITYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,100,000 shares; 2025Q2: 2,004,000 shares; 2025Q3: 2,004,000 shares 2,004,000$149M0.67%0Timeline
NINISOURCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,461,500 shares; 2025Q2: 2,561,500 shares; 2025Q3: 3,100,500 shares 3,100,500$134M0.61%+539,000Timeline
BURLBURLINGTON STORES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 300,000 shares; 2025Q2: 350,000 shares; 2025Q3: 525,000 shares 525,000$134M0.6%+175,000Timeline
ARGXARGENX SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 345,000 shares; 2024Q4: 75,000 shares; 2025Q1: 75,000 shares; 2025Q2: 75,000 shares; 2025Q3: 175,000 shares 175,000$129M0.58%+100,000Timeline
VRTVERTIV HOLDINGS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 720,000 shares 720,000$109M0.49%newTimeline
ROSTROSS STORES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,613,133 shares; 2024Q4: 713,133 shares; 2025Q1: 712,635 shares; 2025Q2: 712,635 shares; 2025Q3: 712,635 shares 712,635$109M0.49%0Timeline
SHWSHERWIN WILLIAMS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 306,970 shares; 2024Q4: 306,970 shares; 2025Q1: 306,735 shares; 2025Q2: 306,735 shares; 2025Q3: 306,735 shares 306,735$106M0.48%0Timeline
RYTMRHYTHM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,167,700 shares; 2024Q4: 1,167,700 shares; 2025Q1: 817,700 shares; 2025Q2: 1,017,700 shares; 2025Q3: 1,017,700 shares 1,017,700$103M0.46%0Timeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 169,548 shares; 2024Q4: 169,548 shares; 2025Q1: 190,416 shares; 2025Q2: 190,416 shares; 2025Q3: 190,416 shares 190,416$92.7M0.42%0Timeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,027,272 shares; 2024Q4: 3,777,272 shares; 2025Q1: 4,523,802 shares; 2025Q2: 4,023,802 shares; 2025Q3: 2,523,802 shares 2,523,802$88.3M0.4%-1,500,000Timeline
AKROAKERO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,325,004 shares; 2024Q4: 1,761,268 shares; 2025Q1: 1,550,934 shares; 2025Q2: 1,850,934 shares; 2025Q3: 1,850,934 shares 1,850,934$87.9M0.4%0Timeline
AMTAMERICAN TOWER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 428,730 shares; 2024Q4: 428,730 shares; 2025Q1: 428,401 shares; 2025Q2: 428,401 shares; 2025Q3: 428,401 shares 428,401$82.4M0.37%0Timeline
EDUNEW ORIENTAL ED & TECHNOLOGYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,563,597 shares; 2024Q4: 1,303,597 shares; 2025Q1: 1,089,486 shares; 2025Q2: 2,193,486 shares; 2025Q3: 1,447,986 shares 1,447,986$76.8M0.35%-745,500Timeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 500,000 shares; 2025Q3: 500,000 shares 500,000$72M0.33%0Timeline
YUMYUM BRANDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 465,951 shares; 2024Q4: 465,951 shares; 2025Q1: 465,603 shares; 2025Q2: 465,603 shares; 2025Q3: 465,603 shares 465,603$70.8M0.32%0Timeline
IRENIREN LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,000,000 shares; 2025Q3: 1,500,000 shares 1,500,000$70.4M0.32%+500,000Timeline
JCIJOHNSON CONTROLS INTERNATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,400,000 shares; 2025Q2: 1,220,000 shares; 2025Q3: 620,000 shares 620,000$68.2M0.31%-600,000Timeline
XYZBLOCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,566,200 shares; 2024Q4: 866,200 shares; 2025Q1: 866,200 shares; 2025Q2: 866,200 shares; 2025Q3: 866,200 shares 866,200$62.6M0.28%0Timeline
RBRKRUBRIK INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 500,000 shares; 2025Q1: 700,000 shares; 2025Q2: 700,000 shares; 2025Q3: 700,000 shares 700,000$57.6M0.26%0Timeline
MDGLMADRIGAL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 120,000 shares 120,000$55M0.25%newTimeline
PATHUIPATH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,061,276 shares; 2024Q4: 4,061,276 shares; 2025Q1: 4,061,276 shares; 2025Q2: 4,061,276 shares; 2025Q3: 4,061,276 shares 4,061,276$54.3M0.25%0Timeline
ORICORIC PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,904,096 shares; 2024Q4: 3,904,096 shares; 2025Q1: 4,004,096 shares; 2025Q2: 4,504,096 shares; 2025Q3: 4,504,096 shares 4,504,096$54M0.24%0Timeline
SAROSTANDARDAERO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,620,000 shares; 2025Q1: 1,820,000 shares; 2025Q2: 1,990,000 shares; 2025Q3: 1,952,019 shares 1,952,019$53.3M0.24%-37,981Timeline
ALABASTERA LABS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,000 shares; 2024Q4: 400,000 shares; 2025Q1: 400,000 shares; 2025Q2: 400,000 shares; 2025Q3: 250,000 shares 250,000$49M0.22%-150,000Timeline
CTASCINTAS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 236,716 shares; 2024Q4: 236,716 shares; 2025Q1: 236,539 shares; 2025Q2: 236,539 shares; 2025Q3: 236,539 shares 236,539$48.6M0.22%0Timeline
BCRXBIOCRYST PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,093,822 shares; 2024Q4: 7,093,822 shares; 2025Q1: 7,214,021 shares; 2025Q2: 5,714,021 shares; 2025Q3: 5,464,021 shares 5,464,021$41.5M0.19%-250,000Timeline
BEKEKE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,025,999 shares; 2024Q4: 5,025,999 shares; 2025Q1: 4,272,723 shares; 2025Q2: 2,772,723 shares; 2025Q3: 2,147,723 shares 2,147,723$40.8M0.18%-625,000Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 674,953 shares; 2024Q4: 574,953 shares; 2025Q1: 571,439 shares; 2025Q2: 211,439 shares; 2025Q3: 211,439 shares 211,439$39.5M0.18%0Timeline
MDBMONGODB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 120,000 shares 120,000$37.2M0.17%newTimeline
FROGJFROG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,425 shares; 2024Q4: 14,425 shares; 2025Q1: 14,425 shares; 2025Q2: 214,425 shares; 2025Q3: 714,425 shares 714,425$33.8M0.15%+500,000Timeline
TOSTTOAST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,000 shares; 2024Q4: 500,000 shares; 2025Q1: 500,000 shares; 2025Q2: 900,000 shares; 2025Q3: 900,000 shares 900,000$32.9M0.15%0Timeline
AGXARGAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 120,000 shares 120,000$32.4M0.15%newTimeline
NIQNIQ GLOBAL INTELLIGENCE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,840,000 shares 1,840,000$28.9M0.13%newTimeline
SNOWSNOWFLAKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 100,000 shares 100,000$22.6M0.1%newTimeline
FIGFIGMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 431,164 shares 431,164$22.4M0.1%newTimeline
CMGCHIPOTLE MEXICAN GRILL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,001,250 shares; 2024Q4: 1,001,250 shares; 2025Q1: 1,000,289 shares; 2025Q2: 1,000,289 shares; 2025Q3: 500,289 shares 500,289$19.6M0.09%-500,000Timeline
HNGEHINGE HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 376,011 shares; 2025Q3: 376,011 shares 376,011$18.5M0.08%0Timeline
OSONESTREAM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,526,261 shares; 2025Q2: 950,000 shares; 2025Q3: 800,000 shares 800,000$14.7M0.07%-150,000Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 56,627 shares; 2024Q4: 56,627 shares; 2025Q1: 56,627 shares; 2025Q2: 56,627 shares; 2025Q3: 56,627 shares 56,627$14.4M0.07%0Timeline
KROSKEROS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,897,601 shares; 2024Q4: 1,101,000 shares; 2025Q1: 850,511 shares; 2025Q2: 850,511 shares; 2025Q3: 850,511 shares 850,511$13.5M0.06%0Timeline
DLODLOCAL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 823,837 shares; 2024Q4: 823,837 shares; 2025Q1: 823,837 shares; 2025Q2: 823,837 shares; 2025Q3: 823,837 shares 823,837$11.8M0.05%0Timeline
RINGCENTRAL INCRINGCENTRAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,000,000 shares; 2024Q4: 30,000,000 shares; 2025Q1: 20,000,000 shares; 2025Q2: 20,000,000 shares; 2025Q3: 10,000,000 shares 10,000,000$9.74M0.04%-10,000,000
MREOMEREO BIOPHARMA GROUP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,698,100 shares; 2024Q4: 4,698,100 shares; 2025Q1: 4,698,100 shares; 2025Q2: 4,698,100 shares; 2025Q3: 3,698,100 shares 3,698,100$7.62M0.03%-1,000,000Timeline
PCTYPAYLOCITY HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,683 shares; 2024Q4: 24,683 shares; 2025Q1: 24,683 shares; 2025Q2: 24,683 shares; 2025Q3: 24,683 shares 24,683$3.93M0.02%0Timeline
ANROALTO NEUROSCIENCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 934,904 shares; 2024Q4: 477,101 shares; 2025Q1: 477,101 shares; 2025Q2: 477,101 shares; 2025Q3: 477,101 shares 477,101$1.92M0.01%0Timeline

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
SPYSTATE STR SPDR S&P 500 ETF T SHSput23,900,000$15.9B0
QQQINVESCO QQQ TR COMput25,633,800$15.4B+849,000
TSLATESLA INC COMcall5,000,000$2.22B+1,600,000
TSMTAIWAN SEMICONDUCTOR MANUFAC SPONSORED ADScall6,000,000$1.68B+159,500
MSFTMICROSOFT CORP COMcall2,950,000$1.53B+950,000
DASHDOORDASH INC Stockcall5,100,000$1.39B+1,050,000
NVDANVIDIA CORPORATION COMcall5,000,000$933M-2,365,000
AAPLAPPLE INC COMcall3,600,000$917Mnew
AMZNAMAZON COM INC COMcall4,000,000$878M-1,581,500
AVGOBROADCOM INC COMcall2,300,000$759Mnew
BKNGBOOKING HOLDINGS INC COMcall130,000$702M+10,000
WYNNWYNN RESORTS LTD COMcall5,000,000$641M+1,400,000
GOOGLALPHABET INC COMcall2,000,000$486Mnew
MARMARRIOTT INTL INC NEW Stockcall1,608,000$419M+408,000
METAMETA PLATFORMS INC COMcall550,000$404Mnew
HLTHILTON WORLDWIDE HLDGS INC Stockcall1,500,000$389M0
CRMSALESFORCE INC COMcall1,400,000$332M0
MMM3M CO Stockcall1,970,000$306M-880,000
LVSLAS VEGAS SANDS CORP Stockcall4,500,000$242M+1,065,000
CRWVCOREWEAVE INC COMcall730,000$99.9Mnew
GBTCGRAYSCALE BITCOIN TRUST ETF SHS REP COM UTcall650,000$58.4M+250,000
AMZNAMAZON COM INC COMput225,000$49.4M-1,500,000
METAMETA PLATFORMS INC COMput67,000$49.2Mnew
RDDTREDDIT INC Stockcall200,000$46Mnew

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
ORCLORACLE CORP4,000,000$875Mcall
BABAALIBABA GROUP HLDG LTD1,625,000$184Mshares
TSMTAIWAN SEMICONDUCTOR MANUFAC300,000$67.9Mput
RAREULTRAGENYX PHARMACEUTICAL IN1,685,729$61.3Mshares
ORCLORACLE CORP220,000$48.1Mput
GOOGLALPHABET INC230,000$40.5Mput
OKTAOKTA INC380,000$38Mshares
AMATAPPLIED MATLS INC45,000$8.24Mshares
SONYSONY GROUP CORP275,000$7.16Mshares
ASMLASML HLDG NV6,500$5.21Mshares
Shopify IncShopify Inc4,000,000$4.05Mshares
PMVPPMV PHARMACEUTICALS INC2,342,373$2.48Mshares

How Q3 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 0000919574-25-006800 base2025-11-14acceptance time not in the bulk data set