Cadian Capital Management, LP In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Cadian Capital Management, LP reported 26 stock positions worth $1.7 billion . Its top holding was Elastic (ESTC) at 10.8% of the portfolio, followed by Guardant Health (GH, 9.2% ) and Braze Class A (BRZE, 8.9% ). Compared with Q3 2024, it opened 5 new positions, sold out of 6, added to 5 and reduced 16. The biggest buy was a new position in Roku (ROKU) and the biggest sale Global-E Online (GLBE, shares −87% ).
Location NEW YORK, NY
CIK 0001423686
Portfolio Value $1.7B (Q4 2024) Holdings 26 stocks · $1.7B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 ESTC Elastic NV 1,897,650 $188.0M Reduce -24.9% GH Guardant Health Inc. 5,221,565 $159.5M Reduce -24.7% BRZE Braze Inc. Class A 3,673,650 $153.9M Reduce -18.3% SPT Sprout Social Inc. Class A 4,548,323 $139.7M Add +6.1% RELY Remitly Global Inc. 5,509,814 $124.4M Reduce -56.3% CRTO Criteo SA-Spon 2,584,333 $102.2M Add +38.2% NTNX Nutanix Inc. Class A 1,455,792 $89.1M Add +68.5% ROKU Roku Inc. 1,178,800 $87.6M New IQV Iqvia Holdings Inc. 400,000 $78.6M New PCOR Procore Technologies Inc. 967,634 $72.5M Reduce -65.7% PLNT Planet Fitness Inc. Class A 641,976 $63.5M Reduce -56.3% USFD US Foods Holding Corp. 879,496 $59.3M Reduce -23.7% EVH Evolent Health Inc. Class A 5,225,001 $58.8M New BBWI Bath & Body Works Inc. 1,010,284 $39.2M Reduce -55.0% MXCT Maxcyte Inc. 9,344,424 $38.9M Add +14.1% CYRX Cryoport Inc. 4,927,027 $38.3M Add +14.1% OPLN Openlane Inc. 1,902,194 $37.7M Reduce -22.2% MNDY Monday.com Ltd. 150,000 $35.3M New LAD Lithia Motors Inc. 87,141 $31.1M Reduce -22.2% TCMD Tactile Systems Technology I 1,739,454 $29.8M Reduce -10.1% GPI Group 1 Automotive Inc. 62,537 $26.4M Reduce -22.2% CFLT Confluent Inc. Class A 845,859 $23.7M Reduce -66.6% GLBE Global-E Online Ltd. 420,000 $22.9M Reduce -87.4% FNA Paragon 28 Inc. 1,402,920 $14.5M Reduce -26.2% TTAN Servicetitan Inc. Class A 125,000 $12.9M New CMRC Commerce.com Inc. filed as BIGCOMMERCE HLDGS INC 1,466,679 $9.0M Reduce -60.9%
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ GLBE Global-E Online Ltd. Reduce -87.4% 1.32% −5.27 PCOR Procore Technologies Inc. Reduce -65.7% 4.17% −4.75 PLNT Planet Fitness Inc. Class A Reduce -56.3% 3.65% −2.45 PEGA Pegasystems Inc. Sold out 0.00% −2.05 CXM Sprinklr Inc. Class A Sold out 0.00% −1.84 OMCL Omnicell Inc. Sold out 0.00% −1.79 HUBS HubSpot Inc. Sold out 0.00% −1.66 RELY Remitly Global Inc. Reduce -56.3% 7.16% −1.48 BBWI Bath & Body Works Inc. Reduce -55.0% 2.26% −1.42 CFLT Confluent Inc. Class A Reduce -66.6% 1.36% −1.28 AUR Aurora Innovation Inc. Sold out 0.00% −0.96 MIRM Mirum Pharmaceuticals Inc. Sold out 0.00% −0.95 CMRC Commerce.com Inc. Reduce -60.9% 0.52% −0.61 USFD US Foods Holding Corp. Reduce -23.7% 3.42% −0.21 GPI Group 1 Automotive Inc. Reduce -22.2% 1.52% −0.06 LAD Lithia Motors Inc. Reduce -22.2% 1.79% −0.03 OPLN Openlane Inc. Reduce -22.2% 2.17% +0.06 FNA Paragon 28 Inc. Reduce -26.2% 0.83% +0.18 TCMD Tactile Systems Technology I Reduce -10.1% 1.72% +0.27 ESTC Elastic NV Reduce -24.9% 10.83% +0.88 GH Guardant Health Inc. Reduce -24.7% 9.19% +1.04 BRZE Braze Inc. Class A Reduce -18.3% 8.86% +1.41
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ ROKU Roku Inc. New 5.05% +5.05 IQV Iqvia Holdings Inc. New 4.53% +4.53 EVH Evolent Health Inc. Class A New 3.38% +3.38 NTNX Nutanix Inc. Class A Add +68.5% 5.13% +2.51 MNDY Monday.com Ltd. New 2.03% +2.03 CRTO Criteo SA-Spon Add +38.2% 5.89% +2.03 SPT Sprout Social Inc. Class A Add +6.1% 8.04% +1.66 TTAN Servicetitan Inc. Class A New 0.74% +0.74 MXCT Maxcyte Inc. Add +14.1% 2.24% +0.61 CYRX Cryoport Inc. Add +14.1% 2.21% +0.41
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ GH Guardant Health Inc. call Sold out 77,500 $1.8Mbefore 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 28 $1.3B IQV, GH, FLYW, PLNT, SPOT Q1 2026 23 $821.2M IQV, DKNG, FLYW, GH, HQY Q4 2025 26 $1.4B DKNG, GLBE, IQV, FLYW, GH Q3 2025 26 $1.7B GLBE, FLYW, IQV, GH, CFLT Q2 2025 24 $1.8B GLBE, GH, CRTO, EVH, PCOR Q1 2025 30 $2.3B ESTC, GH, BRZE, CRTO, ROKU Q4 2024 26 $1.7B ESTC, GH, BRZE, SPT, RELY Q3 2024 27 $2.0B ESTC, PCOR, RELY, GH, BRZE Q2 2024 29 $2.0B BRZE, VRNS, PLNT, PCOR, ESTC Q1 2024 36 $2.8B PLNT, PCOR, BRZE, VRNS, CRTO