Alkeon Capital Management LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Alkeon Capital Management LLC reported 82 stock positions worth $22.1 billion. Its top holding was Meta Platforms Class A (META) at 6.8% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 6.6%) and Alphabet Class A (GOOGL, 6.4%). Compared with Q2 2025, it opened 8 new positions, sold out of 8, added to 12 and reduced 23. The biggest buy was Amphenol Class A (APH, shares +54%) and the biggest sale Alphabet Class A (GOOGL, shares −33%).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001230239
- Portfolio Value
- $22.1B (Q3 2025)
- SEC Filing
- 0000919574-25-006800 ↗ filed Nov 14, 2025
Holdings Value
Holdings 82 stocks · $22.1B
| META Meta Platforms Inc. Class A | 6.83% | 2,059,629 | $1.5B | Reduce -3.9% |
| TSM Taiwan Semiconductor-SP ADR | 6.64% | 5,263,668 | $1.5B | Reduce -5.4% |
| GOOGL Alphabet Inc. Class A | 6.37% | 5,802,558 | $1.4B | Reduce -32.8% |
| AMZN Amazon.com Inc. | 5.98% | 6,024,899 | $1.3B | Reduce -4.0% |
| MSFT Microsoft Corp. | 4.63% | 1,976,176 | $1.0B | Add +14.5% |
| LRCX Lam Research Corp. | 3.88% | 6,420,456 | $859.7M | Reduce -24.5% |
| KLAC KLA Corp. | 3.46% | 710,365 | $766.2M | Reduce -27.5% |
| ADI Analog Devices Inc. | 3.12% | 2,813,833 | $691.4M | No change |
| ORCL Oracle Corp. | 2.92% | 2,297,530 | $646.2M | Reduce -8.8% |
| CDNS Cadence Design SYS Inc. | 2.58% | 1,622,874 | $570.1M | No change |
| MELI MercadoLibre Inc. | 2.54% | 240,499 | $562.0M | No change |
| EXPE Expedia Group Inc. | 2.39% | 2,475,276 | $529.1M | No change |
| QQQ Invesco QQQ Trust Series 1 | 2.31% | 849,777 | $510.2M | No change |
| APH Amphenol Corp. Class A | 2.30% | 4,104,603 | $507.9M | Add +53.7% |
| V Visa Inc. Class A | 2.27% | 1,468,618 | $501.4M | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 2.25% | 3,449,971 | $498.7M | No change |
| MLM Martin Marietta Materials | 2.13% | 747,351 | $471.0M | Reduce -6.8% |
| VMC Vulcan Materials Co. | 2.06% | 1,478,646 | $454.9M | No change |
| MA Mastercard Inc. Class A | 2.00% | 778,465 | $442.8M | No change |
| TER Teradyne Inc. | 1.79% | 2,872,910 | $395.4M | Add +48.6% |
| CG The Carlyle Group Inc. | 1.68% | 5,941,316 | $372.5M | No change |
| CEG Constellation Energy | 1.55% | 1,041,219 | $342.6M | Reduce -8.8% |
| SNPS Synopsys Inc. | 1.49% | 668,278 | $329.7M | No change |
| UBER Uber Technologies Inc. | 1.49% | 3,361,005 | $329.3M | Add +13.5% |
| ICE Intercontinental Exchange Inc. | 1.37% | 1,800,310 | $303.3M | No change |
| VST Vistra Corp. | 1.33% | 1,506,357 | $295.1M | Add +11.1% |
| BWXT BWX Technologies Inc. | 1.31% | 1,578,048 | $290.9M | Add +163.0% |
| PWR Quanta Services Inc. | 1.31% | 700,983 | $290.5M | No change |
| ETR Entergy Corp. | 1.27% | 3,004,291 | $280.0M | Add +15.4% |
| TDG Transdigm Group Inc. | 1.17% | 195,611 | $257.8M | No change |
| DELL Dell Technologies -C | 1.00% | 1,562,409 | $221.5M | Reduce -39.0% |
| GE General Electric filed as GE AEROSPACE | 0.95% | 700,000 | $210.6M | No change |
| CRH CRH PLC | 0.95% | 1,750,000 | $209.8M | New |
| YMM Full Truck Alliance -SPN ADR | 0.83% | 14,198,535 | $184.2M | Reduce -3.4% |
| EQIX Equinix Inc. | 0.83% | 233,775 | $183.1M | No change |
| LOW Lowe's Cos Inc. | 0.74% | 648,594 | $163.0M | No change |
| SSNC Ss&c Technologies Holdings | 0.71% | 1,764,916 | $156.7M | Reduce -10.2% |
| CP Canadian Pacific Kansas City | 0.67% | 2,004,000 | $149.3M | No change |
| NI Nisource Inc. | 0.61% | 3,100,500 | $134.3M | Add +21.0% |
| BURL Burlington Stores Inc. | 0.60% | 525,000 | $133.6M | Add +50.0% |
| ARGX Argenx SE - ADR | 0.58% | 175,000 | $129.1M | Add +133.3% |
| VRT Vertiv Holdings Co. Class A | 0.49% | 720,000 | $108.6M | New |
| ROST Ross Stores Inc. | 0.49% | 712,635 | $108.6M | No change |
| SHW The Sherwin-Williams Co. | 0.48% | 306,735 | $106.2M | No change |
| RYTM Rhythm Pharmaceuticals Inc. | 0.46% | 1,017,700 | $102.8M | No change |
| SPGI S&P Global Inc. | 0.42% | 190,416 | $92.7M | No change |
| JD Jd.com Inc.-ADR | 0.40% | 2,523,802 | $88.3M | Reduce -37.3% |
| AKRO Akero Therapeutics Inc. | 0.40% | 1,850,934 | $87.9M | No change |
| AMT American Tower Corp. | 0.37% | 428,401 | $82.4M | No change |
| EDU New Oriental Educatio-SP ADR | 0.35% | 1,447,986 | $76.8M | Reduce -34.0% |
| INSM Insmed Inc. | 0.33% | 500,000 | $72.0M | No change |
| YUM Yum! Brands Inc. | 0.32% | 465,603 | $70.8M | No change |
| IREN Iren Ltd. filed as IREN LIMITED | 0.32% | 1,500,000 | $70.4M | Add +50.0% |
| JCI Johnson Controls Internation | 0.31% | 620,000 | $68.2M | Reduce -49.2% |
| XYZ Block Inc. | 0.28% | 866,200 | $62.6M | No change |
| RBRK Rubrik Inc. Class A | 0.26% | 700,000 | $57.6M | No change |
| MDGL Madrigal Pharmaceuticals Inc. | 0.25% | 120,000 | $55.0M | New |
| PATH Uipath Inc. Class A | 0.25% | 4,061,276 | $54.3M | No change |
| ORIC Oric Pharmaceuticals Inc. | 0.24% | 4,504,096 | $54.0M | No change |
| SARO Standardaero Inc. | 0.24% | 1,952,019 | $53.3M | Reduce -1.9% |
| ALAB Astera Labs Inc. | 0.22% | 250,000 | $49.0M | Reduce -37.5% |
| CTAS Cintas Corp. | 0.22% | 236,539 | $48.6M | No change |
| BCRX Biocryst Pharmaceuticals Inc. | 0.19% | 5,464,021 | $41.5M | Reduce -4.4% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 0.18% | 2,147,723 | $40.8M | Reduce -22.5% |
| NVDA Nvidia Corp. | 0.18% | 211,439 | $39.5M | No change |
| MDB Mongodb Inc. | 0.17% | 120,000 | $37.2M | New |
| FROG Jfrog Ltd. | 0.15% | 714,425 | $33.8M | Add +233.2% |
| TOST Toast Inc. Class A | 0.15% | 900,000 | $32.9M | No change |
| AGX Argan Inc. | 0.15% | 120,000 | $32.4M | New |
| NIQ Niq Global Intelligence PLC | 0.13% | 1,840,000 | $28.9M | New |
| SNOW Snowflake Inc. | 0.10% | 100,000 | $22.6M | New |
| FIG Figma Inc. Class A | 0.10% | 431,164 | $22.4M | New |
| CMG Chipotle Mexican Grill Inc. | 0.09% | 500,289 | $19.6M | Reduce -50.0% |
| HNGE Hinge Health Inc. Class A | 0.08% | 376,011 | $18.5M | No change |
| OS Onestream Inc. | 0.07% | 800,000 | $14.7M | Reduce -15.8% |
| AAPL Apple Inc. | 0.07% | 56,627 | $14.4M | No change |
| KROS Keros Therapeutics Inc. | 0.06% | 850,511 | $13.5M | No change |
| DLO Dlocal Ltd. | 0.05% | 823,837 | $11.8M | No change |
| RINGCENTRAL INC (RNG 0 03/15/26) | 0.04% | 10,000,000 | $9.7M | Reduce -50.0% |
| MREO Mereo Biopharma Group PL-ADR | 0.03% | 3,698,100 | $7.6M | Reduce -21.3% |
| PCTY Paylocity Holding Corp. | 0.02% | 24,683 | $3.9M | No change |
| ANRO Alto Neuroscience Inc. | 0.01% | 477,101 | $1.9M | No change |
Options reported separately and not counted above: SPY puts ($15.9B), QQQ puts ($15.4B), TSLA calls ($2.2B), TSM calls ($1.7B), MSFT calls ($1.5B), DASH calls ($1.4B), NVDA calls ($932.9M), AAPL calls ($916.7M), AMZN calls ($878.3M), AVGO calls ($758.8M), BKNG calls ($701.9M), WYNN calls ($641.4M), and 12 more.
Portfolio Sells Q2 2025 → Q3 2025
| GOOGL Alphabet Inc. Class A | Reduce -32.8% | 6.37% | −1.02 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.90 |
| META Meta Platforms Inc. Class A | Reduce -3.9% | 6.83% | −0.85 |
| KLAC KLA Corp. | Reduce -27.5% | 3.46% | −0.80 |
| AMZN Amazon.com Inc. | Reduce -4.0% | 5.98% | −0.71 |
| DELL Dell Technologies -C | Reduce -39.0% | 1.00% | −0.52 |
| JCI Johnson Controls Internation | Reduce -49.2% | 0.31% | −0.32 |
| RARE Ultragenyx Pharmaceutical Inc. | Sold out | 0.00% | −0.30 |
| CEG Constellation Energy | Reduce -8.8% | 1.55% | −0.24 |
| JD Jd.com Inc.-ADR | Reduce -37.3% | 0.40% | −0.24 |
| EDU New Oriental Educatio-SP ADR | Reduce -34.0% | 0.35% | −0.23 |
| OKTA Okta Inc. | Sold out | 0.00% | −0.18 |
| CMG Chipotle Mexican Grill Inc. | Reduce -50.0% | 0.09% | −0.18 |
| LRCX Lam Research Corp. | Reduce -24.5% | 3.88% | −0.14 |
| SSNC Ss&c Technologies Holdings | Reduce -10.2% | 0.71% | −0.08 |
| SARO Standardaero Inc. | Reduce -1.9% | 0.24% | −0.07 |
| OS Onestream Inc. | Reduce -15.8% | 0.07% | −0.06 |
| BCRX Biocryst Pharmaceuticals Inc. | Reduce -4.4% | 0.19% | −0.06 |
| BEKE Ke Holdings Inc.-ADR | Reduce -22.5% | 0.18% | −0.05 |
| RINGCENTRAL INC (RNG 0 03/15/26) | Reduce -50.0% | 0.04% | −0.05 |
| AMAT Applied Materials Inc. | Sold out | 0.00% | −0.04 |
| SONY Sony Group Corp. - SP ADR | Sold out | 0.00% | −0.03 |
| MREO Mereo Biopharma Group PL-ADR | Reduce -21.3% | 0.03% | −0.03 |
| ASML ASML Holding NV-NY Reg SHS | Sold out | 0.00% | −0.03 |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | Sold out | 0.00% | −0.02 |
| PMVP PMV Pharmaceuticals Inc. | Sold out | 0.00% | −0.01 |
| YMM Full Truck Alliance -SPN ADR | Reduce -3.4% | 0.83% | −0.01 |
| MLM Martin Marietta Materials | Reduce -6.8% | 2.13% | −0.01 |
| ALAB Astera Labs Inc. | Reduce -37.5% | 0.22% | +0.05 |
| ORCL Oracle Corp. | Reduce -8.8% | 2.92% | +0.24 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -5.4% | 6.64% | +0.52 |
Portfolio Buys Q2 2025 → Q3 2025
| APH Amphenol Corp. Class A | Add +53.7% | 2.30% | +1.01 |
| CRH CRH PLC | New | 0.95% | +0.95 |
| TER Teradyne Inc. | Add +48.6% | 1.79% | +0.94 |
| BWXT BWX Technologies Inc. | Add +163.0% | 1.31% | +0.89 |
| VRT Vertiv Holdings Co. Class A | New | 0.49% | +0.49 |
| MSFT Microsoft Corp. | Add +14.5% | 4.63% | +0.45 |
| ARGX Argenx SE - ADR | Add +133.3% | 0.58% | +0.38 |
| MDGL Madrigal Pharmaceuticals Inc. | New | 0.25% | +0.25 |
| IREN Iren Ltd. | Add +50.0% | 0.32% | +0.25 |
| ETR Entergy Corp. | Add +15.4% | 1.27% | +0.21 |
| BURL Burlington Stores Inc. | Add +50.0% | 0.60% | +0.21 |
| MDB Mongodb Inc. | New | 0.17% | +0.17 |
| AGX Argan Inc. | New | 0.15% | +0.15 |
| UBER Uber Technologies Inc. | Add +13.5% | 1.49% | +0.15 |
| NIQ Niq Global Intelligence PLC | New | 0.13% | +0.13 |
| FROG Jfrog Ltd. | Add +233.2% | 0.15% | +0.11 |
| NI Nisource Inc. | Add +21.0% | 0.61% | +0.10 |
| SNOW Snowflake Inc. | New | 0.10% | +0.10 |
| FIG Figma Inc. Class A | New | 0.10% | +0.10 |
| VST Vistra Corp. | Add +11.1% | 1.33% | +0.06 |
Options Activity Q2 2025 → Q3 2025
| QQQ Invesco QQQ Trust Series 1 | put | Add +3.4% | 25,633,800 | $15.4B |
| TSLA Tesla Inc. | call | Add +47.1% | 5,000,000 | $2.2B |
| TSM Taiwan Semiconductor-SP ADR | call | Add +2.7% | 6,000,000 | $1.7B |
| MSFT Microsoft Corp. | call | Add +47.5% | 2,950,000 | $1.5B |
| DASH DoorDash Inc. Class A | call | Add +25.9% | 5,100,000 | $1.4B |
| NVDA Nvidia Corp. | call | Reduce -32.1% | 5,000,000 | $932.9M |
| AAPL Apple Inc. | call | New | 3,600,000 | $916.7M |
| AMZN Amazon.com Inc. | call | Reduce -28.3% | 4,000,000 | $878.3M |
| ORCL Oracle Corp. | call | Sold out | 4,000,000 | $874.5Mbefore exit |
| AVGO Broadcom Inc. | call | New | 2,300,000 | $758.8M |
| BKNG Booking Holdings Inc. | call | Add +8.3% | 130,000 | $701.9M |
| WYNN WYNN Resorts Ltd. | call | Add +38.9% | 5,000,000 | $641.4M |
| GOOGL Alphabet Inc. Class A | call | New | 2,000,000 | $486.2M |
| MAR Marriott International Class A | call | Add +34.0% | 1,608,000 | $418.8M |
| META Meta Platforms Inc. Class A | call | New | 550,000 | $403.9M |
| MMM 3M Co. | call | Reduce -30.9% | 1,970,000 | $305.7M |
| LVS Las Vegas Sands Corp. | call | Add +31.0% | 4,500,000 | $242.1M |
| CRWV Coreweave Inc. Class A | call | New | 730,000 | $99.9M |
| TSM Taiwan Semiconductor-SP ADR | put | Sold out | 300,000 | $67.9Mbefore exit |
| GBTC Grayscale Bitcoin Trust ETF | call | Add +62.5% | 650,000 | $58.4M |
| AMZN Amazon.com Inc. | put | Reduce -87.0% | 225,000 | $49.4M |
| META Meta Platforms Inc. Class A | put | New | 67,000 | $49.2M |
| ORCL Oracle Corp. | put | Sold out | 220,000 | $48.1Mbefore exit |
| RDDT Reddit Inc. Class A | call | New | 200,000 | $46.0M |
| GOOGL Alphabet Inc. Class A | put | Sold out | 230,000 | $40.5Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 79 | $25.9B | TSM, AMZN, LRCX, GOOGL, QQQ |
| Q1 2026 | 75 | $22.1B | TSM, GOOGL, META, AMZN, KLAC |
| Q4 2025 | 83 | $22.9B | GOOGL, TSM, AMZN, META, LRCX |
| Q3 2025 | 82 | $22.1B | META, TSM, GOOGL, AMZN, MSFT |
| Q2 2025 | 82 | $20.6B | META, GOOGL, AMZN, TSM, KLAC |
| Q1 2025 | 82 | $16.9B | META, AMZN, TSM, GOOGL, KLAC |
| Q4 2024 | 75 | $17.3B | META, AMZN, TSM, GOOGL, MSFT |
| Q3 2024 | 77 | $18.3B | META, AMZN, TSM, GOOGL, MSFT |
| Q2 2024 | 79 | $19.5B | META, AMZN, GOOGL, TSM, MSFT |
| Q1 2024 | 75 | $18.2B | META, AMZN, TSM, GOOGL, MSFT |