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Spyglass Capital Management LLC

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13F filer, CIK 1654344, Greenbrae, CA

Spyglass Capital Management LLC reported $1,695,539,182 across 25 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-13. Its ten largest share positions make up 51.95% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-003124

Period
2025-06-30
Reported value
$1.7B
Holdings
25
Top 10 weight
51.95%
New
3
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NCNOnew+1,579,924$44.2M
CDNSnew+128,535$39.6M
DUOLnew+81,949$33.6M
CSGPadded+307,424$24.7M
APGadded+523,955$17.8M

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
WSCexited-1,723,601-$47.9M
FICOexited-20,782-$38.3M
HOODreduced-404,977-$37.9M
GDDYexited-176,722-$31.8M
APPreduced-47,037-$16.5M

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 0001172661-25-003124, largest first. % of portfolio is the value over $1,695,539,182, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
AFRMAFFIRM HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,348,095 shares; 2024Q4: 1,702,004 shares; 2025Q1: 1,902,425 shares; 2025Q2: 1,740,283 shares 1,740,283$120M7.1%-162,142Timeline
SNOWSNOWFLAKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 547,848 shares; 2024Q4: 577,034 shares; 2025Q1: 557,726 shares; 2025Q2: 500,260 shares 500,260$112M6.6%-57,466Timeline
FOURSHIFT4 PMTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 800,320 shares; 2024Q4: 981,859 shares; 2025Q1: 1,002,330 shares; 2025Q2: 1,027,983 shares 1,027,983$102M6.01%+25,653Timeline
APPAPPLOVIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 818,109 shares; 2024Q4: 315,061 shares; 2025Q1: 302,224 shares; 2025Q2: 255,187 shares 255,187$89.3M5.27%-47,037Timeline
APGAPI GROUP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,834,189 shares; 2024Q4: 2,070,041 shares; 2025Q1: 2,000,741 shares; 2025Q2: 2,524,696 shares 2,524,696$85.9M5.07%+523,955Timeline
HOODROBINHOOD MKTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,321,608 shares; 2025Q2: 916,631 shares 916,631$85.8M5.06%-404,977Timeline
MDBMONGODB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 235,971 shares; 2024Q4: 249,683 shares; 2025Q1: 269,595 shares; 2025Q2: 345,127 shares 345,127$72.5M4.27%+75,532Timeline
EXASEXACT SCIENCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,397,093 shares; 2024Q4: 1,539,436 shares; 2025Q1: 1,576,634 shares; 2025Q2: 1,358,663 shares 1,358,663$72.2M4.26%-217,971Timeline
KNSLKINSALE CAP GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 88,348 shares; 2024Q4: 119,895 shares; 2025Q1: 151,421 shares; 2025Q2: 145,612 shares 145,612$70.5M4.16%-5,809Timeline
MEDPMEDPACE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 141,882 shares; 2024Q4: 262,660 shares; 2025Q1: 242,146 shares; 2025Q2: 224,471 shares 224,471$70.5M4.16%-17,675Timeline
ILMNILLUMINA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 537,716 shares; 2025Q1: 559,057 shares; 2025Q2: 698,565 shares 698,565$66.7M3.93%+139,508Timeline
ALABASTERA LABS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 736,121 shares; 2024Q4: 455,312 shares; 2025Q1: 907,949 shares; 2025Q2: 734,570 shares 734,570$66.4M3.92%-173,379Timeline
CSGPCOSTAR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 829,004 shares; 2024Q4: 1,221,607 shares; 2025Q1: 495,858 shares; 2025Q2: 803,282 shares 803,282$64.6M3.81%+307,424Timeline
PCORPROCORE TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 935,896 shares; 2024Q4: 1,048,154 shares; 2025Q1: 933,887 shares; 2025Q2: 898,098 shares 898,098$61.4M3.62%-35,789Timeline
VEEVVEEVA SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 224,143 shares; 2024Q4: 307,801 shares; 2025Q1: 227,297 shares; 2025Q2: 205,120 shares 205,120$59.1M3.48%-22,177Timeline
DASHDOORDASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 553,194 shares; 2024Q4: 546,239 shares; 2025Q1: 245,112 shares; 2025Q2: 235,611 shares 235,611$58.1M3.43%-9,501Timeline
SGSWEETGREEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,050,611 shares; 2024Q4: 2,296,894 shares; 2025Q1: 3,386,170 shares; 2025Q2: 3,899,813 shares 3,899,813$58M3.42%+513,643Timeline
GLBEGLOBAL E ONLINE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,392,671 shares; 2024Q4: 1,487,335 shares; 2025Q1: 1,437,501 shares; 2025Q2: 1,658,211 shares 1,658,211$55.6M3.28%+220,710Timeline
CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 116,221 shares; 2025Q1: 124,511 shares; 2025Q2: 129,248 shares 129,248$52.6M3.1%+4,737
AAONAAON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 620,895 shares; 2025Q2: 712,356 shares 712,356$52.5M3.1%+91,461Timeline
ACVAACV AUCTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,614,245 shares; 2024Q4: 2,916,586 shares; 2025Q1: 3,117,628 shares; 2025Q2: 3,157,130 shares 3,157,130$51.2M3.02%+39,502Timeline
HUBSHUBSPOT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 93,328 shares; 2024Q4: 106,551 shares; 2025Q1: 91,150 shares; 2025Q2: 91,780 shares 91,780$51.1M3.01%+630Timeline
NCNONCINO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,579,924 shares 1,579,924$44.2M2.61%newTimeline
CDNSCADENCE DESIGN SYSTEM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 128,535 shares 128,535$39.6M2.34%newTimeline
DUOLDUOLINGO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 136,559 shares; 2024Q4: 111,173 shares; 2025Q1: not reported; 2025Q2: 81,949 shares 81,949$33.6M1.98%newTimeline

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
WSCWILLSCOT HLDGS CORP1,723,601$47.9Mshares
FICOFAIR ISAAC CORP20,782$38.3Mshares
GDDYGODADDY INC176,722$31.8Mshares

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 0001172661-25-003124 base2025-08-13acceptance time not in the bulk data set