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Spyglass Capital Management LLC

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13F filer, CIK 1654344, Greenbrae, CA

Spyglass Capital Management LLC reported $1,875,063,378 across 25 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 53.42% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-004841

Period
2025-09-30
Reported value
$1.88B
Holdings
25
Top 10 weight
53.42%
New
4
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
IOTnew+2,200,165$82M
ASNDnew+388,647$77.3M
LOARnew+849,069$67.9M
HUBSadded+133,449$62.4M
DUOLadded+186,777$60.1M

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
HOODexited-916,631-$85.8M
ALABexited-734,570-$66.4M
VEEVexited-205,120-$59.1M
APPreduced-79,270-$57M
AFRMreduced-736,460-$53.8M

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.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001172661-25-004841, largest first. % of portfolio is the value over $1,875,063,378, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
APPAPPLOVIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 818,109 shares; 2024Q4: 315,061 shares; 2025Q1: 302,224 shares; 2025Q2: 255,187 shares; 2025Q3: 175,917 shares 175,917$126M6.74%-79,270Timeline
EXASEXACT SCIENCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,125,435 shares 2,125,435$116M6.2%+766,772Timeline
MDBMONGODB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 235,971 shares; 2024Q4: 249,683 shares; 2025Q1: 269,595 shares; 2025Q2: 345,127 shares; 2025Q3: 339,723 shares 339,723$105M5.62%-5,404Timeline
HUBSHUBSPOT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 93,328 shares; 2024Q4: 106,551 shares; 2025Q1: 91,150 shares; 2025Q2: 91,780 shares; 2025Q3: 225,229 shares 225,229$105M5.62%+133,449Timeline
AAONAAON 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: 620,895 shares; 2025Q2: 712,356 shares; 2025Q3: 1,068,859 shares 1,068,859$99.9M5.33%+356,503Timeline
GLBEGLOBAL E ONLINE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,703,171 shares 2,703,171$96.7M5.16%+1,044,960Timeline
FOURSHIFT4 PMTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 800,320 shares; 2024Q4: 981,859 shares; 2025Q1: 1,002,330 shares; 2025Q2: 1,027,983 shares; 2025Q3: 1,242,213 shares 1,242,213$96.1M5.13%+214,230Timeline
DUOLDUOLINGO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 136,559 shares; 2024Q4: 111,173 shares; 2025Q1: not reported; 2025Q2: 81,949 shares; 2025Q3: 268,726 shares 268,726$86.5M4.61%+186,777Timeline
CSGPCOSTAR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 829,004 shares; 2024Q4: 1,221,607 shares; 2025Q1: 495,858 shares; 2025Q2: 803,282 shares; 2025Q3: 1,002,717 shares 1,002,717$84.6M4.51%+199,435Timeline
SNOWSNOWFLAKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 547,848 shares; 2024Q4: 577,034 shares; 2025Q1: 557,726 shares; 2025Q2: 500,260 shares; 2025Q3: 374,509 shares 374,509$84.5M4.5%-125,751Timeline
IOTSAMSARA 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: 2,200,165 shares 2,200,165$82M4.37%newTimeline
APGAPI GROUP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,261,685 shares 2,261,685$77.7M4.15%-263,011Timeline
MEDPMEDPACE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 141,882 shares; 2024Q4: 262,660 shares; 2025Q1: 242,146 shares; 2025Q2: 224,471 shares; 2025Q3: 150,882 shares 150,882$77.6M4.14%-73,589Timeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 652,841 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 388,647 shares 388,647$77.3M4.12%newTimeline
AFRMAFFIRM HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,003,823 shares 1,003,823$73.4M3.91%-736,460Timeline
PCORPROCORE TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 935,896 shares; 2024Q4: 1,048,154 shares; 2025Q1: 933,887 shares; 2025Q2: 898,098 shares; 2025Q3: 943,888 shares 943,888$68.8M3.67%+45,790Timeline
LOARLOAR HOLDINGS 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: 849,069 shares 849,069$67.9M3.62%newTimeline
KNSLKINSALE CAP GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 88,348 shares; 2024Q4: 119,895 shares; 2025Q1: 151,421 shares; 2025Q2: 145,612 shares; 2025Q3: 143,385 shares 143,385$61M3.25%-2,227Timeline
NCNONCINO 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: 1,579,924 shares; 2025Q3: 2,149,090 shares 2,149,090$58.3M3.11%+569,166Timeline
DASHDOORDASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 553,194 shares; 2024Q4: 546,239 shares; 2025Q1: 245,112 shares; 2025Q2: 235,611 shares; 2025Q3: 161,702 shares 161,702$44M2.35%-73,909Timeline
FICOFAIR ISAAC 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: 20,782 shares; 2025Q2: not reported; 2025Q3: 27,673 shares 27,673$41.4M2.21%newTimeline
CDNSCADENCE DESIGN SYSTEM 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: 128,535 shares; 2025Q3: 115,969 shares 115,969$40.7M2.17%-12,566Timeline
ILMNILLUMINA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 537,716 shares; 2025Q1: 559,057 shares; 2025Q2: 698,565 shares; 2025Q3: 422,150 shares 422,150$40.1M2.14%-276,415Timeline
SGSWEETGREEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 4,056,570 shares 4,056,570$32.4M1.73%+156,757Timeline
ACVAACV AUCTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 3,113,017 shares 3,113,017$30.8M1.65%-44,113Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
HOODROBINHOOD MKTS INC916,631$85.8Mshares
ALABASTERA LABS INC734,570$66.4Mshares
VEEVVEEVA SYS INC205,120$59.1Mshares
CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAEL129,248$52.6Mshares

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 0001172661-25-004841 base2025-11-14acceptance time not in the bulk data set