Pathway Capital Management, LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 4, 2025), Pathway Capital Management, LP reported 7 stock positions worth $20.3 million. Its top holding was Hims & Hers Health (HIMS) at 33.3% of the portfolio, followed by Arcellx (ACLX, 20.6%) and Goodrx Class A (GDRX, 20.5%). Compared with Q2 2025, it opened 4 new positions, sold out of 7 and added to 2. The biggest buy was a new position in Hims & Hers Health (HIMS) and the biggest sale an exit from Rubrik Class A (RBRK).
- Most Recent 13F
- Q2 2026
- Location
- Irvine, CA
- CIK
- 0001037353
- Portfolio Value
- $20.3M (Q3 2025)
- SEC Filing
- 0001214659-25-015847 ↗ filed Nov 4, 2025
Holdings Value
Holdings 7 stocks · $20.3M
| HIMS Hims & Hers Health Inc. | 33.26% | 119,279 | $6.8M | New |
| ACLX Arcellx Inc. | 20.60% | 51,051 | $4.2M | New |
| GDRX Goodrx Holdings Inc. Class A | 20.51% | 986,158 | $4.2M | Add +69.0% |
| CRSP Crispr Therapeutics AG | 15.95% | 50,049 | $3.2M | New |
| PDD PDD Holdings Inc. | 4.68% | 7,197 | $951K | New |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 4.64% | 59,010 | $945K | Add +62.7% |
| NEUE Neuehealth Inc. | 0.37% | 11,201 | $75K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| RBRK Rubrik Inc. Class A | Sold out | 0.00% | −63.11 |
| TOST Toast Inc. Class A | Sold out | 0.00% | −11.96 |
| TTAN Servicetitan Inc. Class A | Sold out | 0.00% | −7.51 |
| BRZE Braze Inc. Class A | Sold out | 0.00% | −5.27 |
| CXM Sprinklr Inc. Class A | Sold out | 0.00% | −5.06 |
| AMPL Amplitude Inc. Class A | Sold out | 0.00% | −2.94 |
| ABNB Airbnb Inc. Class A | Sold out | 0.00% | −0.33 |
Portfolio Buys Q2 2025 → Q3 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 4 | $23.9M | RBRK, HOOD, TTAN, BLND |
| Q1 2026 | 2 | $4.3M | LQDA, ETOR |
| Q4 2025 | 5 | $7.8M | BRZE, TTAN, NOW, ETOR, ABNB |
| Q3 2025 | 7 | $20.3M | HIMS, ACLX, GDRX, CRSP, PDD |
| Q2 2025 | 10 | $91.3M | RBRK, TOST, TTAN, BRZE, CXM |
| Q1 2025 | 5 | $17.3M | TEM, VRNA, AMPL, NU, NEUE |
| Q4 2024 | 9 | $100.2M | SPOT, WEAV, S, HOOD, LZ |
| Q3 2024 | 5 | $52.9M | RBRK, SPOT, WEAV, CFLT, NEUE |
| Q2 2024 | 4 | $63.4M | AON, SPOT, DELL, NEUE |
| Q1 2024 | 10 | $107.3M | NFLX, SPOT, NU, TOST, HIMS |