Cadian Capital Management, LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Cadian Capital Management, LP reported 30 stock positions worth $2.3 billion. Its top holding was Elastic (ESTC) at 9.7% of the portfolio, followed by Guardant Health (GH, 8.4%) and Braze Class A (BRZE, 7.0%). Compared with Q4 2024, it opened 6 new positions, sold out of 2, added to 20 and reduced 3. The biggest buy was a new position in Flywire Corp.-Voting (FLYW) and the biggest sale Remitly Global (RELY, shares −46%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001423686
- Portfolio Value
- $2.3B (Q1 2025)
- SEC Filing
- 0001085146-25-003231 ↗ filed May 15, 2025
Holdings Value
Holdings 30 stocks · $2.3B
| ESTC Elastic NV | 9.72% | 2,549,595 | $227.2M | Add +34.4% |
| GH Guardant Health Inc. | 8.38% | 4,595,087 | $195.8M | Reduce -12.0% |
| BRZE Braze Inc. Class A | 7.03% | 4,556,615 | $164.4M | Add +24.0% |
| CRTO Criteo SA-Spon | 6.75% | 4,452,189 | $157.7M | Add +72.3% |
| ROKU Roku Inc. | 6.29% | 2,086,800 | $147.0M | Add +77.0% |
| PCOR Procore Technologies Inc. | 5.58% | 1,973,754 | $130.3M | Add +104.0% |
| NTNX Nutanix Inc. Class A | 5.16% | 1,726,792 | $120.5M | Add +18.6% |
| SPT Sprout Social Inc. Class A | 4.76% | 5,061,146 | $111.3M | Add +11.3% |
| EVH Evolent Health Inc. Class A | 4.37% | 10,794,606 | $102.2M | Add +106.6% |
| IQV Iqvia Holdings Inc. | 3.98% | 527,000 | $92.9M | Add +31.8% |
| PLNT Planet Fitness Inc. Class A | 3.86% | 932,973 | $90.1M | Add +45.3% |
| GLBE Global-E Online Ltd. | 3.71% | 2,434,000 | $86.8M | Add +479.5% |
| BBWI Bath & Body Works Inc. | 3.41% | 2,625,284 | $79.6M | Add +159.9% |
| MNDY Monday.com Ltd. | 2.95% | 283,855 | $69.0M | Add +89.2% |
| FLYW Flywire Corp.-Voting | 2.86% | 7,029,707 | $66.8M | New |
| RELY Remitly Global Inc. | 2.67% | 3,002,788 | $62.5M | Reduce -45.5% |
| USFD US Foods Holding Corp. | 2.46% | 879,496 | $57.6M | No change |
| CFLT Confluent Inc. Class A | 2.29% | 2,281,687 | $53.5M | Add +169.8% |
| ACVA Acv Auctions Inc. Class A | 2.22% | 3,678,018 | $51.8M | New |
| OPLN Openlane Inc. | 1.95% | 2,362,194 | $45.5M | Add +24.2% |
| LAD Lithia Motors Inc. | 1.41% | 112,641 | $33.1M | Add +29.3% |
| HUBS HubSpot Inc. | 1.41% | 57,620 | $32.9M | New |
| CYRX Cryoport Inc. | 1.30% | 4,982,027 | $30.3M | Add +1.1% |
| TCMD Tactile Systems Technology I | 1.21% | 2,135,592 | $28.2M | Add +22.8% |
| MXCT Maxcyte Inc. | 1.17% | 10,027,727 | $27.4M | Add +7.3% |
| FNA Paragon 28 Inc. | 1.16% | 2,075,005 | $27.1M | Add +47.9% |
| SDGR Schrodinger Inc. | 0.93% | 1,105,000 | $21.8M | New |
| GPI Group 1 Automotive Inc. | 0.87% | 53,337 | $20.4M | Reduce -14.7% |
| QUBT Quantum Computing Inc. | 0.09% | 270,000 | $2.2M | New |
| CRWV Coreweave Inc. Class A | 0.06% | 40,000 | $1.5M | New |
Portfolio Sells Q4 2024 → Q1 2025
Portfolio Buys Q4 2024 → Q1 2025
| FLYW Flywire Corp.-Voting | New | 2.86% | +2.86 |
| GLBE Global-E Online Ltd. | Add +479.5% | 3.71% | +2.39 |
| ACVA Acv Auctions Inc. Class A | New | 2.22% | +2.22 |
| HUBS HubSpot Inc. | New | 1.41% | +1.41 |
| PCOR Procore Technologies Inc. | Add +104.0% | 5.58% | +1.40 |
| ROKU Roku Inc. | Add +77.0% | 6.29% | +1.24 |
| BBWI Bath & Body Works Inc. | Add +159.9% | 3.41% | +1.15 |
| EVH Evolent Health Inc. Class A | Add +106.6% | 4.37% | +0.99 |
| SDGR Schrodinger Inc. | New | 0.93% | +0.93 |
| CFLT Confluent Inc. Class A | Add +169.8% | 2.29% | +0.93 |
| MNDY Monday.com Ltd. | Add +89.2% | 2.95% | +0.92 |
| CRTO Criteo SA-Spon | Add +72.3% | 6.75% | +0.86 |
| FNA Paragon 28 Inc. | Add +47.9% | 1.16% | +0.33 |
| PLNT Planet Fitness Inc. Class A | Add +45.3% | 3.86% | +0.20 |
| QUBT Quantum Computing Inc. | New | 0.09% | +0.09 |
| CRWV Coreweave Inc. Class A | New | 0.06% | +0.06 |
| NTNX Nutanix Inc. Class A | Add +18.6% | 5.16% | +0.03 |
| OPLN Openlane Inc. | Add +24.2% | 1.95% | −0.22 |
| LAD Lithia Motors Inc. | Add +29.3% | 1.41% | −0.38 |
| TCMD Tactile Systems Technology I | Add +22.8% | 1.21% | −0.51 |
| IQV Iqvia Holdings Inc. | Add +31.8% | 3.98% | −0.55 |
| CYRX Cryoport Inc. | Add +1.1% | 1.30% | −0.91 |
| MXCT Maxcyte Inc. | Add +7.3% | 1.17% | −1.07 |
| ESTC Elastic NV | Add +34.4% | 9.72% | −1.11 |
| BRZE Braze Inc. Class A | Add +24.0% | 7.03% | −1.83 |
| SPT Sprout Social Inc. Class A | Add +11.3% | 4.76% | −3.28 |
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 |