Cadian Capital Management, LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Cadian Capital Management, LP reported 26 stock positions worth $1.7 billion. Its top holding was Global-E Online (GLBE) at 12.1% of the portfolio, followed by Flywire Corp.-Voting (FLYW, 9.1%) and Iqvia (IQV, 9.1%). Compared with Q2 2025, it opened 7 new positions, sold out of 5, added to 10 and reduced 9. The biggest buy was a new position in Varonis Systems (VRNS) and the biggest sale an exit from Roku (ROKU).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001423686
- Portfolio Value
- $1.7B (Q3 2025)
- SEC Filing
- 0001423686-25-000004 ↗ filed Nov 14, 2025
Holdings Value
Holdings 26 stocks · $1.7B
| GLBE Global-E Online Ltd. | 12.06% | 5,673,244 | $202.9M | Add +2.8% |
| FLYW Flywire Corp.-Voting | 9.10% | 11,310,589 | $153.1M | Add +15.9% |
| IQV Iqvia Holdings Inc. | 9.06% | 803,069 | $152.5M | Add +23.1% |
| GH Guardant Health Inc. | 7.95% | 2,141,191 | $133.8M | Reduce -32.6% |
| CFLT Confluent Inc. Class A | 6.91% | 5,873,644 | $116.3M | Add +35.0% |
| VRNS Varonis Systems Inc. | 6.20% | 1,816,100 | $104.4M | New |
| EVH Evolent Health Inc. Class A | 5.90% | 11,728,924 | $99.2M | Add +12.5% |
| NTNX Nutanix Inc. Class A | 5.68% | 1,283,808 | $95.5M | Add +6.9% |
| OMCL Omnicell Inc. | 3.79% | 2,093,318 | $63.7M | Add +25.9% |
| HUBS HubSpot Inc. | 3.76% | 135,274 | $63.3M | Add +213.1% |
| PCOR Procore Technologies Inc. | 3.38% | 780,741 | $56.9M | Reduce -54.2% |
| CRTO Criteo SA-Spon | 3.33% | 2,475,961 | $56.0M | Reduce -50.5% |
| DKNG Draftkings Inc. Class A | 3.09% | 1,388,760 | $51.9M | Add +716.9% |
| MNDY Monday.com Ltd. | 3.04% | 264,000 | $51.1M | New |
| BRZE Braze Inc. Class A | 2.98% | 1,763,108 | $50.1M | Reduce -33.5% |
| SPT Sprout Social Inc. Class A | 2.96% | 3,857,191 | $49.8M | Reduce -19.2% |
| CYRX Cryoport Inc. | 2.81% | 4,984,070 | $47.2M | Add +0.3% |
| OPLN Openlane Inc. | 2.00% | 1,166,828 | $33.6M | Reduce -44.6% |
| TCMD Tactile Systems Technology I | 1.69% | 2,055,758 | $28.5M | Reduce -11.0% |
| RELY Remitly Global Inc. | 1.25% | 1,289,122 | $21.0M | New |
| FLUT Flutter Entertainment PLC-Di | 0.79% | 52,050 | $13.2M | Reduce -15.0% |
| MXCT Maxcyte Inc. | 0.77% | 8,227,603 | $13.0M | Reduce -7.7% |
| WIX Wix.com Ltd. | 0.61% | 57,500 | $10.2M | New |
| SIBN Si-Bone Inc. | 0.52% | 595,000 | $8.8M | New |
| OABI Omniab Inc. | 0.35% | 3,675,568 | $5.9M | New |
| RBRK Rubrik Inc. Class A | 0.04% | 8,000 | $658K | New |
Portfolio Sells Q2 2025 → Q3 2025
| ROKU Roku Inc. | Sold out | 0.00% | −4.71 |
| SDGR Schrodinger Inc. | Sold out | 0.00% | −3.43 |
| CRTO Criteo SA-Spon | Reduce -50.5% | 3.33% | −3.39 |
| PCOR Procore Technologies Inc. | Reduce -54.2% | 3.38% | −3.14 |
| ACVA Acv Auctions Inc. Class A | Sold out | 0.00% | −3.09 |
| ESTC Elastic NV | Sold out | 0.00% | −2.76 |
| SPT Sprout Social Inc. Class A | Reduce -19.2% | 2.96% | −2.63 |
| GH Guardant Health Inc. | Reduce -32.6% | 7.95% | −1.32 |
| BRZE Braze Inc. Class A | Reduce -33.5% | 2.98% | −1.19 |
| OPLN Openlane Inc. | Reduce -44.6% | 2.00% | −0.89 |
| PRO Pros Holdings Inc. | Sold out | 0.00% | −0.61 |
| MXCT Maxcyte Inc. | Reduce -7.7% | 0.77% | −0.32 |
| FLUT Flutter Entertainment PLC-Di | Reduce -15.0% | 0.79% | −0.19 |
| TCMD Tactile Systems Technology I | Reduce -11.0% | 1.69% | +0.38 |
Portfolio Buys Q2 2025 → Q3 2025
| VRNS Varonis Systems Inc. | New | 6.20% | +6.20 |
| IQV Iqvia Holdings Inc. | Add +23.1% | 9.06% | +3.31 |
| MNDY Monday.com Ltd. | New | 3.04% | +3.04 |
| FLYW Flywire Corp.-Voting | Add +15.9% | 9.10% | +2.71 |
| DKNG Draftkings Inc. Class A | Add +716.9% | 3.09% | +2.68 |
| HUBS HubSpot Inc. | Add +213.1% | 3.76% | +2.41 |
| GLBE Global-E Online Ltd. | Add +2.8% | 12.06% | +1.69 |
| RELY Remitly Global Inc. | New | 1.25% | +1.25 |
| OMCL Omnicell Inc. | Add +25.9% | 3.79% | +1.05 |
| CFLT Confluent Inc. Class A | Add +35.0% | 6.91% | +0.84 |
| CYRX Cryoport Inc. | Add +0.3% | 2.81% | +0.73 |
| WIX Wix.com Ltd. | New | 0.61% | +0.61 |
| NTNX Nutanix Inc. Class A | Add +6.9% | 5.68% | +0.53 |
| SIBN Si-Bone Inc. | New | 0.52% | +0.52 |
| OABI Omniab Inc. | New | 0.35% | +0.35 |
| RBRK Rubrik Inc. Class A | New | 0.04% | +0.04 |
| EVH Evolent Health Inc. Class A | Add +12.5% | 5.90% | −0.68 |
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 |