Spyglass Capital Management LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Spyglass Capital Management LLC reported 25 stock positions worth $1.5 billion. Its top holding was AppLovin Class A (APP) at 7.0% of the portfolio, followed by Ascendis Pharma A/S (ASND, 6.4%) and Affirm (AFRM, 6.3%). Compared with Q2 2024, it opened 2 new positions, sold out of 2, added to 9 and reduced 14. The biggest buy was a new position in Astera Labs (ALAB) and the biggest sale an exit from Five Below (FIVE).
- Most Recent 13F
- Q2 2026
- Location
- Greenbrae, CA
- CIK
- 0001654344
- Portfolio Value
- $1.5B (Q3 2024)
- SEC Filing
- 0001172661-24-004790 ↗ filed Nov 14, 2024
Holdings Value
Holdings 25 stocks · $1.5B
| APP AppLovin Corp. Class A | 7.01% | 818,109 | $106.8M | Reduce -21.9% |
| ASND Ascendis Pharma A/S | 6.40% | 652,841 | $97.5M | Reduce -1.5% |
| AFRM Affirm Holdings Inc. | 6.29% | 2,348,095 | $95.8M | Add +9.3% |
| EXAS Exact Sciences Corp. | 6.25% | 1,397,093 | $95.2M | Reduce -1.5% |
| DASH DoorDash Inc. Class A | 5.18% | 553,194 | $79.0M | Reduce -1.5% |
| SG Sweetgreen Inc. Class A | 4.77% | 2,050,611 | $72.7M | Reduce -18.3% |
| FOUR SHIFT4 Payments Inc. Class A | 4.66% | 800,320 | $70.9M | Reduce -33.5% |
| MDB Mongodb Inc. | 4.19% | 235,971 | $63.8M | Add +50.8% |
| SNOW Snowflake Inc. | 4.13% | 547,848 | $62.9M | Add +24.2% |
| CSGP Costar Group Inc. | 4.11% | 829,004 | $62.5M | Reduce -1.5% |
| APG Api Group Corp. | 3.98% | 1,834,189 | $60.6M | Add +4.3% |
| PCOR Procore Technologies Inc. | 3.79% | 935,896 | $57.8M | Reduce -1.8% |
| FND Floor & Decor Holdings Inc. Class A | 3.65% | 447,676 | $55.6M | Add +15.4% |
| GDDY GoDaddy Inc. Class A | 3.65% | 354,223 | $55.5M | Reduce -1.5% |
| GLBE Global-E Online Ltd. | 3.52% | 1,392,671 | $53.5M | Reduce -1.5% |
| ACVA Acv Auctions Inc. Class A | 3.49% | 2,614,245 | $53.1M | Add +69.1% |
| HUBS HubSpot Inc. | 3.26% | 93,328 | $49.6M | Reduce -1.5% |
| WSC Willscot Holdings Corp. | 3.21% | 1,301,780 | $48.9M | Add +6.3% |
| MEDP Medpace Holdings Inc. | 3.11% | 141,882 | $47.4M | Add +29.7% |
| VEEV Veeva Systems Inc. Class A | 3.09% | 224,143 | $47.0M | Add +6.4% |
| KNSL Kinsale Capital Group Inc. | 2.70% | 88,348 | $41.1M | Reduce -1.5% |
| ALAB Astera Labs Inc. | 2.53% | 736,121 | $38.6M | New |
| DUOL Duolingo | 2.53% | 136,559 | $38.5M | New |
| TDG Transdigm Group Inc. | 2.29% | 24,405 | $34.8M | Reduce -29.7% |
| SPOT Spotify Technology SA | 2.21% | 91,410 | $33.7M | Reduce -25.9% |
Portfolio Sells Q2 2024 → Q3 2024
| FIVE Five Below | Sold out | 0.00% | −3.52 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −2.07 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -33.5% | 4.66% | −1.81 |
| TDG Transdigm Group Inc. | Reduce -29.7% | 2.29% | −0.96 |
| PCOR Procore Technologies Inc. | Reduce -1.8% | 3.79% | −0.84 |
| HUBS HubSpot Inc. | Reduce -1.5% | 3.26% | −0.83 |
| SG Sweetgreen Inc. Class A | Reduce -18.3% | 4.77% | −0.76 |
| SPOT Spotify Technology SA | Reduce -25.9% | 2.21% | −0.62 |
| CSGP Costar Group Inc. | Reduce -1.5% | 4.11% | −0.46 |
| GLBE Global-E Online Ltd. | Reduce -1.5% | 3.52% | −0.24 |
| ASND Ascendis Pharma A/S | Reduce -1.5% | 6.40% | −0.22 |
| GDDY GoDaddy Inc. Class A | Reduce -1.5% | 3.65% | −0.03 |
| KNSL Kinsale Capital Group Inc. | Reduce -1.5% | 2.70% | +0.17 |
| APP AppLovin Corp. Class A | Reduce -21.9% | 7.01% | +0.63 |
| DASH DoorDash Inc. Class A | Reduce -1.5% | 5.18% | +0.71 |
| EXAS Exact Sciences Corp. | Reduce -1.5% | 6.25% | +1.86 |
Portfolio Buys Q2 2024 → Q3 2024
| ALAB Astera Labs Inc. | New | 2.53% | +2.53 |
| DUOL Duolingo | New | 2.53% | +2.53 |
| AFRM Affirm Holdings Inc. | Add +9.3% | 6.29% | +1.54 |
| ACVA Acv Auctions Inc. Class A | Add +69.1% | 3.49% | +1.42 |
| MDB Mongodb Inc. | Add +50.8% | 4.19% | +1.32 |
| FND Floor & Decor Holdings Inc. Class A | Add +15.4% | 3.65% | +0.83 |
| VEEV Veeva Systems Inc. Class A | Add +6.4% | 3.09% | +0.27 |
| WSC Willscot Holdings Corp. | Add +6.3% | 3.21% | −0.16 |
| MEDP Medpace Holdings Inc. | Add +29.7% | 3.11% | −0.19 |
| SNOW Snowflake Inc. | Add +24.2% | 4.13% | −0.23 |
| APG Api Group Corp. | Add +4.3% | 3.98% | −0.87 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 25 | $1.8B | AFRM, CRDO, IOT, AAON, APP |
| Q1 2026Amended | 25 | $1.4B | IOT, ASND, HUBS, FOUR, AFRM |
| Q4 2025 | 25 | $2.0B | MDB, AFRM, FOUR, HUBS, CSGP |
| Q3 2025 | 25 | $1.9B | APP, EXAS, MDB, HUBS, AAON |
| Q2 2025 | 25 | $1.7B | AFRM, SNOW, FOUR, APP, APG |
| Q1 2025 | 25 | $1.5B | AFRM, SG, FOUR, SNOW, APP |
| Q4 2024 | 25 | $1.8B | AFRM, APP, FOUR, DASH, SNOW |
| Q3 2024 | 25 | $1.5B | APP, ASND, AFRM, EXAS, DASH |
| Q2 2024 | 25 | $1.4B | ASND, FOUR, APP, SG, APG |
| Q1 2024 | 25 | $1.5B | APP, ASND, WSC, CSGP, EXAS |