Cadian Capital Management, LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Cadian Capital Management, LP reported 26 stock positions worth $1.4 billion. Its top holding was Draftkings Class A (DKNG) at 13.8% of the portfolio, followed by Global-E Online (GLBE, 12.5%) and Iqvia (IQV, 8.9%). Compared with Q3 2025, it opened 8 new positions, sold out of 8, added to 8 and reduced 10. The biggest buy was Draftkings Class A (DKNG, shares +298%) and the biggest sale Confluent Class A (CFLT, shares −78%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001423686
- Portfolio Value
- $1.4B (Q4 2025)
- SEC Filing
- 0001423686-26-000003 ↗ filed Feb 17, 2026
Holdings Value
Holdings 26 stocks · $1.4B
| DKNG Draftkings Inc. Class A | 13.75% | 5,524,221 | $190.4M | Add +297.8% |
| GLBE Global-E Online Ltd. | 12.45% | 4,385,770 | $172.4M | Reduce -22.7% |
| IQV Iqvia Holdings Inc. | 8.95% | 549,669 | $123.9M | Reduce -31.6% |
| FLYW Flywire Corp.-Voting | 8.11% | 7,927,159 | $112.2M | Reduce -29.9% |
| GH Guardant Health Inc. | 6.81% | 922,628 | $94.2M | Reduce -56.9% |
| PCOR Procore Technologies Inc. | 5.55% | 1,056,032 | $76.8M | Add +35.3% |
| VRNS Varonis Systems Inc. | 5.41% | 2,282,581 | $74.9M | Add +25.7% |
| NTNX Nutanix Inc. Class A | 5.14% | 1,377,589 | $71.2M | Add +7.3% |
| MNDY Monday.com Ltd. | 4.67% | 438,490 | $64.7M | Add +66.1% |
| HQY Healthequity Inc. | 3.75% | 566,700 | $51.9M | New |
| OMCL Omnicell Inc. | 3.74% | 1,142,555 | $51.8M | Reduce -45.4% |
| CYRX Cryoport Inc. | 3.44% | 4,962,552 | $47.6M | Reduce -0.4% |
| EVH Evolent Health Inc. Class A | 3.20% | 11,085,455 | $44.3M | Reduce -5.5% |
| CFLT Confluent Inc. Class A | 2.78% | 1,272,854 | $38.5M | Reduce -78.3% |
| OPLN Openlane Inc. | 2.75% | 1,279,418 | $38.1M | Add +9.7% |
| TCMD Tactile Systems Technology I | 2.27% | 1,084,094 | $31.4M | Reduce -47.3% |
| ALKT Alkami Technology Inc. | 1.95% | 1,169,000 | $27.0M | New |
| SIBN Si-Bone Inc. | 1.67% | 1,171,100 | $23.1M | Add +96.8% |
| TSM Taiwan Semiconductor-SP ADR | 1.25% | 57,000 | $17.3M | New |
| META Meta Platforms Inc. Class A | 0.65% | 13,700 | $9.0M | New |
| INTA Intapp Inc. | 0.61% | 185,000 | $8.5M | New |
| OABI Omniab Inc. | 0.59% | 4,434,954 | $8.2M | Add +20.7% |
| MXCT Maxcyte Inc. | 0.41% | 3,683,052 | $5.7M | Reduce -55.2% |
| U Unity Software Inc. | 0.04% | 13,000 | $574K | New |
| HIMS Hims & Hers Health Inc. | 0.03% | 12,635 | $410K | New |
| GOGO Gogo Inc. | 0.02% | 50,000 | $233K | New |
Portfolio Sells Q3 2025 → Q4 2025
| CFLT Confluent Inc. Class A | Reduce -78.3% | 2.78% | −4.13 |
| HUBS HubSpot Inc. | Sold out | 0.00% | −3.76 |
| CRTO Criteo SA-Spon | Sold out | 0.00% | −3.33 |
| BRZE Braze Inc. Class A | Sold out | 0.00% | −2.98 |
| SPT Sprout Social Inc. Class A | Sold out | 0.00% | −2.96 |
| EVH Evolent Health Inc. Class A | Reduce -5.5% | 3.20% | −2.69 |
| RELY Remitly Global Inc. | Sold out | 0.00% | −1.25 |
| GH Guardant Health Inc. | Reduce -56.9% | 6.81% | −1.14 |
| FLYW Flywire Corp.-Voting | Reduce -29.9% | 8.11% | −0.99 |
| FLUT Flutter Entertainment PLC-Di | Sold out | 0.00% | −0.79 |
| WIX Wix.com Ltd. | Sold out | 0.00% | −0.61 |
| MXCT Maxcyte Inc. | Reduce -55.2% | 0.41% | −0.36 |
| IQV Iqvia Holdings Inc. | Reduce -31.6% | 8.95% | −0.12 |
| OMCL Omnicell Inc. | Reduce -45.4% | 3.74% | −0.05 |
| RBRK Rubrik Inc. Class A | Sold out | 0.00% | −0.04 |
| GLBE Global-E Online Ltd. | Reduce -22.7% | 12.45% | +0.40 |
| TCMD Tactile Systems Technology I | Reduce -47.3% | 2.27% | +0.58 |
| CYRX Cryoport Inc. | Reduce -0.4% | 3.44% | +0.63 |
Portfolio Buys Q3 2025 → Q4 2025
| DKNG Draftkings Inc. Class A | Add +297.8% | 13.75% | +10.66 |
| HQY Healthequity Inc. | New | 3.75% | +3.75 |
| PCOR Procore Technologies Inc. | Add +35.3% | 5.55% | +2.17 |
| ALKT Alkami Technology Inc. | New | 1.95% | +1.95 |
| MNDY Monday.com Ltd. | Add +66.1% | 4.67% | +1.63 |
| TSM Taiwan Semiconductor-SP ADR | New | 1.25% | +1.25 |
| SIBN Si-Bone Inc. | Add +96.8% | 1.67% | +1.15 |
| OPLN Openlane Inc. | Add +9.7% | 2.75% | +0.76 |
| META Meta Platforms Inc. Class A | New | 0.65% | +0.65 |
| INTA Intapp Inc. | New | 0.61% | +0.61 |
| OABI Omniab Inc. | Add +20.7% | 0.59% | +0.24 |
| U Unity Software Inc. | New | 0.04% | +0.04 |
| HIMS Hims & Hers Health Inc. | New | 0.03% | +0.03 |
| GOGO Gogo Inc. | New | 0.02% | +0.02 |
| NTNX Nutanix Inc. Class A | Add +7.3% | 5.14% | −0.53 |
| VRNS Varonis Systems Inc. | Add +25.7% | 5.41% | −0.79 |
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 |