Summit Partners Public Asset Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Summit Partners Public Asset Management, LLC reported 71 stock positions worth $2.6 billion. Its top holding was Verona Pharma (VRNA) at 7.9% of the portfolio, followed by Spotify Technology (SPOT, 5.8%) and GE Vernova (GEV, 5.5%). Compared with Q1 2025, it opened 22 new positions, sold out of 11, added to 15 and reduced 32. The biggest buy was a new position in Twilio Class A (TWLO) and the biggest sale Natera (NTRA, shares −84%).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0001638555
- Portfolio Value
- $2.6B (Q2 2025)
- SEC Filing
- 0001172661-25-003295 ↗ filed Aug 14, 2025
Holdings Value
Holdings 71 stocks · $2.6B
| VRNA Verona Pharma Ltd. | 7.91% | 2,144,286 | $202.8M | Reduce -7.7% |
| SPOT Spotify Technology SA | 5.81% | 194,341 | $149.1M | Reduce -1.2% |
| GEV GE Vernova Inc. | 5.53% | 268,322 | $142.0M | No change |
| NVDA Nvidia Corp. | 4.25% | 689,489 | $108.9M | Add +45.3% |
| INSM Insmed Inc. | 3.96% | 1,008,937 | $101.5M | Add +43.2% |
| RBRK Rubrik Inc. Class A | 3.47% | 994,371 | $89.1M | Reduce -21.6% |
| WAY Waystar Holding Corp. | 3.10% | 1,948,529 | $79.6M | Add +5.1% |
| TWLO Twilio Inc. Class A | 3.07% | 633,220 | $78.7M | New |
| WGS Genedx Holdings Corp. | 2.76% | 767,265 | $70.8M | Reduce -36.2% |
| SEI Solaris Energy Infrastructur | 2.66% | 2,409,616 | $68.2M | Add +70.2% |
| CVLT Commvault Systems Inc. | 2.60% | 382,000 | $66.6M | Reduce -21.4% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 2.46% | 876,307 | $63.1M | Add +1.0% |
| SNOW Snowflake Inc. | 2.37% | 271,181 | $60.7M | Reduce -25.4% |
| RDDT Reddit Inc. Class A | 2.29% | 389,500 | $58.6M | Reduce -39.7% |
| TSM Taiwan Semiconductor-SP ADR | 2.27% | 257,000 | $58.2M | Add +32.8% |
| MSFT Microsoft Corp. | 2.23% | 115,000 | $57.2M | New |
| ALAB Astera Labs Inc. | 2.17% | 616,500 | $55.7M | Add +1.8% |
| AEIS Advanced Energy Industries | 1.83% | 354,921 | $47.0M | Reduce -40.1% |
| IOT Samsara Inc. Class A | 1.80% | 1,161,985 | $46.2M | Reduce -24.1% |
| MELI MercadoLibre Inc. | 1.79% | 17,550 | $45.9M | Reduce -5.9% |
| TSEM Tower Semiconductor Ltd. | 1.72% | 1,020,163 | $44.2M | Add +4.5% |
| MKSI MKS Inc. | 1.67% | 432,153 | $42.9M | New |
| LNG Cheniere Energy Inc. | 1.66% | 175,000 | $42.6M | Reduce -30.0% |
| CEG Constellation Energy | 1.64% | 130,000 | $42.0M | Reduce -12.2% |
| GNRC Generac Holdings Inc. | 1.56% | 280,000 | $40.1M | New |
| ALGM Allegro Microsystems Inc. | 1.54% | 1,154,000 | $39.5M | Reduce -49.2% |
| CRDO Credo Technology Group Holdi | 1.51% | 418,200 | $38.7M | Add +5000.0% |
| SIMO Silicon Motion Technol-ADR | 1.51% | 513,937 | $38.6M | Add +81.0% |
| UPST Upstart Holdings Inc. | 1.47% | 583,000 | $37.7M | Reduce -13.1% |
| MNTN MNTN Inc. Class A | 1.46% | 1,713,427 | $37.5M | New |
| BBIO Bridgebio Pharma Inc. | 1.28% | 757,745 | $32.7M | Reduce -32.9% |
| VRT Vertiv Holdings Co. Class A | 1.14% | 226,965 | $29.1M | Reduce -31.6% |
| AXON Axon Enterprise Inc. | 1.13% | 35,062 | $29.0M | Reduce -39.9% |
| XMTR Xometry Inc. Class A | 1.13% | 858,579 | $29.0M | New |
| MNDY Monday.com Ltd. | 1.06% | 86,790 | $27.3M | Add +76.7% |
| MIR Mirion Technologies Inc. | 0.88% | 1,046,000 | $22.5M | Add +16.7% |
| ASND Ascendis Pharma A/S | 0.87% | 130,000 | $22.4M | New |
| SKY Champion Homes Inc. | 0.84% | 342,770 | $21.5M | Reduce -31.1% |
| FIX Comfort Systems USA Inc. | 0.84% | 40,000 | $21.4M | Reduce -42.9% |
| CVNA Carvana Co. | 0.79% | 60,000 | $20.2M | Reduce -72.4% |
| COMP Compass Inc. Class A | 0.78% | 3,200,000 | $20.1M | Reduce -11.1% |
| COIN Coinbase Global Inc. Class A | 0.78% | 57,000 | $20.0M | New |
| AKRO Akero Therapeutics Inc. | 0.76% | 366,997 | $19.6M | Reduce -36.7% |
| ACVA Acv Auctions Inc. Class A | 0.76% | 1,202,026 | $19.5M | Reduce -14.3% |
| ALKT Alkami Technology Inc. | 0.66% | 565,959 | $17.1M | Add +232.9% |
| EXAS Exact Sciences Corp. | 0.62% | 299,985 | $15.9M | New |
| NTRA Natera Inc. | 0.60% | 91,330 | $15.4M | Reduce -83.9% |
| EQT Eqt Corp. | 0.58% | 253,070 | $14.8M | Add +130.4% |
| ESLT Elbit Systems Ltd. | 0.45% | 25,700 | $11.6M | New |
| FND Floor & Decor Holdings Inc. Class A | 0.44% | 150,000 | $11.4M | New |
| CRUS Cirrus Logic Inc. | 0.42% | 104,458 | $10.9M | Add +1292.8% |
| ESTA Establishment Labs Holdings | 0.38% | 229,905 | $9.8M | Reduce -35.0% |
| ARGX Argenx SE - ADR | 0.37% | 17,123 | $9.4M | Reduce -78.6% |
| AMZN Amazon.com Inc. | 0.36% | 41,600 | $9.1M | Reduce -48.9% |
| CAI Caris Life Sciences Inc. | 0.31% | 296,000 | $7.9M | New |
| GKOS Glaukos Corp. | 0.30% | 75,000 | $7.7M | Reduce -83.0% |
| LENZ Lenz Therapeutics Inc. | 0.27% | 240,000 | $7.0M | New |
| VEEV Veeva Systems Inc. Class A | 0.22% | 20,000 | $5.8M | No change |
| LRCX Lam Research Corp. | 0.18% | 46,500 | $4.5M | Reduce -82.9% |
| AMPL Amplitude Inc. Class A | 0.11% | 225,000 | $2.8M | New |
| DDOG Datadog Inc. Class A | 0.11% | 20,380 | $2.7M | Reduce -83.0% |
| ROG Rogers Corp. | 0.10% | 36,500 | $2.5M | New |
| MBLY Mobileye Global Inc. Class A | 0.10% | 139,000 | $2.5M | New |
| PAY Paymentus Holdings Inc. Class A | 0.08% | 61,000 | $2.0M | Reduce -65.1% |
| TDUP Thredup Inc. Class A | 0.07% | 230,000 | $1.7M | New |
| MCHP Microchip Technology Inc. | 0.04% | 13,000 | $915K | New |
| SNDK Sandisk Corp. | 0.03% | 19,000 | $862K | New |
| ASML ASML Holding NV-NY Reg SHS | 0.03% | 1,000 | $801K | New |
| PI Impinj Inc. | 0.03% | 6,500 | $722K | New |
| AMD Advanced Micro Devices | 0.02% | 4,000 | $568K | New |
| THRY Thryv Holdings Inc. | 0.02% | 44,169 | $537K | Reduce -69.7% |
Options reported separately and not counted above: VRNA puts ($132.4M), IWM puts ($129.5M), TSLA puts ($87.8M), SPOT puts ($83.6M), PANW puts ($62.0M), RBRK puts ($61.3M), AMZN calls ($55.9M), AAPL calls ($45.1M), NVDA calls ($38.5M), AXON puts ($29.0M), TTD calls ($28.8M), IOT calls ($27.8M), and 51 more.
Portfolio Sells Q1 2025 → Q2 2025
| NTRA Natera Inc. | Reduce -83.9% | 0.60% | −3.26 |
| WGS Genedx Holdings Corp. | Reduce -36.2% | 2.76% | −2.35 |
| ARGX Argenx SE - ADR | Reduce -78.6% | 0.37% | −1.90 |
| GKOS Glaukos Corp. | Reduce -83.0% | 0.30% | −1.78 |
| SKY Champion Homes Inc. | Reduce -31.1% | 0.84% | −1.43 |
| DOCS Doximity Inc. Class A | Sold out | 0.00% | −1.40 |
| CVNA Carvana Co. | Reduce -72.4% | 0.79% | −1.39 |
| ALGM Allegro Microsystems Inc. | Reduce -49.2% | 1.54% | −1.20 |
| PRCT Procept Biorobotics Corp. | Sold out | 0.00% | −1.15 |
| TEAM Atlassian Corp. Class A | Sold out | 0.00% | −1.12 |
| LNG Cheniere Energy Inc. | Reduce -30.0% | 1.66% | −1.11 |
| CVLT Commvault Systems Inc. | Reduce -21.4% | 2.60% | −1.08 |
| IOT Samsara Inc. Class A | Reduce -24.1% | 1.80% | −1.01 |
| RDDT Reddit Inc. Class A | Reduce -39.7% | 2.29% | −0.97 |
| AEIS Advanced Energy Industries | Reduce -40.1% | 1.83% | −0.88 |
| LRCX Lam Research Corp. | Reduce -82.9% | 0.18% | −0.77 |
| COMP Compass Inc. Class A | Reduce -11.1% | 0.78% | −0.72 |
| BBIO Bridgebio Pharma Inc. | Reduce -32.9% | 1.28% | −0.60 |
| DDOG Datadog Inc. Class A | Reduce -83.0% | 0.11% | −0.46 |
| IESC Ies Holdings Inc. | Sold out | 0.00% | −0.42 |
| AMZN Amazon.com Inc. | Reduce -48.9% | 0.36% | −0.39 |
| AKRO Akero Therapeutics Inc. | Reduce -36.7% | 0.76% | −0.36 |
| VIAV Viavi Solutions Inc. | Sold out | 0.00% | −0.34 |
| AXON Axon Enterprise Inc. | Reduce -39.9% | 1.13% | −0.34 |
| ESTA Establishment Labs Holdings | Reduce -35.0% | 0.38% | −0.31 |
| ESTC Elastic NV | Sold out | 0.00% | −0.26 |
| FIX Comfort Systems USA Inc. | Reduce -42.9% | 0.84% | −0.25 |
| RBRK Rubrik Inc. Class A | Reduce -21.6% | 3.47% | −0.23 |
| ACVA Acv Auctions Inc. Class A | Reduce -14.3% | 0.76% | −0.19 |
| SNOW Snowflake Inc. | Reduce -25.4% | 2.37% | −0.18 |
| PAY Paymentus Holdings Inc. Class A | Reduce -65.1% | 0.08% | −0.14 |
| BLND Blend Labs Inc. Class A | Sold out | 0.00% | −0.12 |
| KRMN Karman Holdings Inc. | Sold out | 0.00% | −0.12 |
| VPG Vishay Precision Group | Sold out | 0.00% | −0.10 |
| THRY Thryv Holdings Inc. | Reduce -69.7% | 0.02% | −0.07 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −0.02 |
| SLAB Silicon Laboratories Inc. | Sold out | 0.00% | −0.01 |
| VRT Vertiv Holdings Co. Class A | Reduce -31.6% | 1.14% | −0.01 |
| UPST Upstart Holdings Inc. | Reduce -13.1% | 1.47% | −0.01 |
| MELI MercadoLibre Inc. | Reduce -5.9% | 1.79% | +0.04 |
| CEG Constellation Energy | Reduce -12.2% | 1.64% | +0.20 |
| SPOT Spotify Technology SA | Reduce -1.2% | 5.81% | +0.63 |
| VRNA Verona Pharma Ltd. | Reduce -7.7% | 7.91% | +0.83 |
Portfolio Buys Q1 2025 → Q2 2025
| TWLO Twilio Inc. Class A | New | 3.07% | +3.07 |
| MSFT Microsoft Corp. | New | 2.23% | +2.23 |
| NVDA Nvidia Corp. | Add +45.3% | 4.25% | +1.78 |
| MKSI MKS Inc. | New | 1.67% | +1.67 |
| GNRC Generac Holdings Inc. | New | 1.56% | +1.56 |
| CRDO Credo Technology Group Holdi | Add +5000.0% | 1.51% | +1.49 |
| MNTN MNTN Inc. Class A | New | 1.46% | +1.46 |
| INSM Insmed Inc. | Add +43.2% | 3.96% | +1.38 |
| SEI Solaris Energy Infrastructur | Add +70.2% | 2.66% | +1.18 |
| XMTR Xometry Inc. Class A | New | 1.13% | +1.13 |
| ASND Ascendis Pharma A/S | New | 0.87% | +0.87 |
| SIMO Silicon Motion Technol-ADR | Add +81.0% | 1.51% | +0.82 |
| COIN Coinbase Global Inc. Class A | New | 0.78% | +0.78 |
| TSM Taiwan Semiconductor-SP ADR | Add +32.8% | 2.27% | +0.73 |
| EXAS Exact Sciences Corp. | New | 0.62% | +0.62 |
| MNDY Monday.com Ltd. | Add +76.7% | 1.06% | +0.49 |
| ALKT Alkami Technology Inc. | Add +232.9% | 0.66% | +0.45 |
| ESLT Elbit Systems Ltd. | New | 0.45% | +0.45 |
| FND Floor & Decor Holdings Inc. Class A | New | 0.44% | +0.44 |
| ALAB Astera Labs Inc. | Add +1.8% | 2.17% | +0.44 |
| CRUS Cirrus Logic Inc. | Add +1292.8% | 0.42% | +0.39 |
| CAI Caris Life Sciences Inc. | New | 0.31% | +0.31 |
| EQT Eqt Corp. | Add +130.4% | 0.58% | +0.29 |
| LENZ Lenz Therapeutics Inc. | New | 0.27% | +0.27 |
| MIR Mirion Technologies Inc. | Add +16.7% | 0.88% | +0.25 |
| TTD Trade Desk Inc./the Class A | Add +1.0% | 2.46% | +0.18 |
| AMPL Amplitude Inc. Class A | New | 0.11% | +0.11 |
| MBLY Mobileye Global Inc. Class A | New | 0.10% | +0.10 |
| ROG Rogers Corp. | New | 0.10% | +0.10 |
| TDUP Thredup Inc. Class A | New | 0.07% | +0.07 |
| TSEM Tower Semiconductor Ltd. | Add +4.5% | 1.72% | +0.05 |
| MCHP Microchip Technology Inc. | New | 0.04% | +0.04 |
| SNDK Sandisk Corp. | New | 0.03% | +0.03 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.03% | +0.03 |
| PI Impinj Inc. | New | 0.03% | +0.03 |
| AMD Advanced Micro Devices | New | 0.02% | +0.02 |
| WAY Waystar Holding Corp. | Add +5.1% | 3.10% | −0.22 |
Options Activity Q1 2025 → Q2 2025
| VRNA Verona Pharma Ltd. | put | Add +55.6% | 1,400,000 | $132.4M |
| IWM iShares Russell 2000 ETF | put | Add +114.3% | 599,900 | $129.5M |
| TSLA Tesla Inc. | put | Add +58.0% | 276,500 | $87.8M |
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 181,200 | $85.0Mbefore exit |
| SMH Vaneck Semiconductor ETF | put | Sold out | 400,000 | $84.6Mbefore exit |
| SPOT Spotify Technology SA | put | Reduce -46.6% | 109,000 | $83.6M |
| NTRA Natera Inc. | put | Sold out | 529,600 | $74.9Mbefore exit |
| PANW Palo Alto Networks Inc. | put | New | 303,000 | $62.0M |
| RBRK Rubrik Inc. Class A | put | Add +128.0% | 684,000 | $61.3M |
| AMZN Amazon.com Inc. | call | New | 255,000 | $55.9M |
| JPM JPMorgan Chase & Co. | call | Sold out | 200,000 | $49.1Mbefore exit |
| SNOW Snowflake Inc. | put | Sold out | 330,000 | $48.2Mbefore exit |
| LNG Cheniere Energy Inc. | put | Sold out | 200,000 | $46.3Mbefore exit |
| AAPL Apple Inc. | call | New | 220,000 | $45.1M |
| NVDA Nvidia Corp. | call | Add +306.7% | 244,000 | $38.5M |
| SKY Champion Homes Inc. | put | Sold out | 400,000 | $37.9Mbefore exit |
| META Meta Platforms Inc. Class A | put | Sold out | 65,000 | $37.5Mbefore exit |
| AMD Advanced Micro Devices | call | Sold out | 325,000 | $33.4Mbefore exit |
| CEG Constellation Energy | put | Sold out | 150,000 | $30.2Mbefore exit |
| HOOD Robinhood Markets Inc. Class A | call | Sold out | 725,000 | $30.2Mbefore exit |
| DOCS Doximity Inc. Class A | put | Sold out | 501,000 | $29.1Mbefore exit |
| AXON Axon Enterprise Inc. | put | Reduce -12.5% | 35,000 | $29.0M |
| TTD Trade Desk Inc./the Class A | call | Add +33.3% | 400,000 | $28.8M |
| MELI MercadoLibre Inc. | call | Sold out | 14,600 | $28.5Mbefore exit |
| NEE Nextera Energy Inc. | put | Sold out | 400,000 | $28.4Mbefore exit |
| LII Lennox International Inc. | put | Sold out | 50,000 | $28.0Mbefore exit |
| IOT Samsara Inc. Class A | call | New | 700,000 | $27.8M |
| UPST Upstart Holdings Inc. | put | Sold out | 600,000 | $27.6Mbefore exit |
| CVLT Commvault Systems Inc. | put | Reduce -42.3% | 150,000 | $26.1M |
| ANET Arista Networks Inc. | put | New | 250,000 | $25.6M |
| UPST Upstart Holdings Inc. | call | New | 385,000 | $24.9M |
| CRDO Credo Technology Group Holdi | call | Sold out | 608,000 | $24.4Mbefore exit |
| VST Vistra Corp. | call | New | 125,000 | $24.2M |
| VRT Vertiv Holdings Co. Class A | put | Sold out | 330,000 | $23.8Mbefore exit |
| ZTS Zoetis Inc. | put | New | 145,000 | $22.6M |
| MSFT Microsoft Corp. | call | New | 45,000 | $22.4M |
| COIN Coinbase Global Inc. Class A | put | New | 62,000 | $21.7M |
| TSLA Tesla Inc. | call | Sold out | 80,000 | $20.7Mbefore exit |
| RIVN Rivian Automotive Inc. Class A | call | Sold out | 1,660,000 | $20.7Mbefore exit |
| IWM iShares Russell 2000 ETF | call | Sold out | 100,000 | $19.9Mbefore exit |
| APO Apollo Global Management Inc. | put | New | 140,000 | $19.9M |
| NFLX Netflix Inc. | call | Sold out | 21,000 | $19.6Mbefore exit |
| RDDT Reddit Inc. Class A | call | New | 126,000 | $19.0M |
| GNRC Generac Holdings Inc. | call | New | 130,000 | $18.6M |
| HD Home Depot Inc. | put | New | 50,000 | $18.3M |
| TSEM Tower Semiconductor Ltd. | put | Sold out | 480,000 | $17.1Mbefore exit |
| APO Apollo Global Management Inc. | call | New | 120,000 | $17.0M |
| TEAM Atlassian Corp. Class A | put | Sold out | 80,000 | $17.0Mbefore exit |
| AVGO Broadcom Inc. | call | Sold out | 100,000 | $16.7Mbefore exit |
| SEI Solaris Energy Infrastructur | put | Add +9.7% | 590,400 | $16.7M |
Showing the first 50 of 124.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 79 | $3.8B | SNDK, GH, MKSI, DOCN, SEI |
| Q1 2026 | 66 | $2.2B | TSEM, SNDK, INSM, IONS, SEI |
| Q4 2025 | 69 | $3.6B | SNDK, GEV, INSM, NVDA, MDB |
| Q3 2025 | 72 | $3.1B | VRNA, GEV, INSM, SPOT, NVDA |
| Q2 2025 | 71 | $2.6B | VRNA, SPOT, GEV, NVDA, INSM |
| Q1 2025 | 60 | $2.1B | VRNA, SPOT, WGS, GEV, NTRA |
| Q4 2024 | 67 | $3.0B | RDDT, ALAB, TSM, NTRA, GKOS |
| Q3 2024 | 64 | $2.2B | RDDT, SPOT, NVDA, TSM, ALAB |
| Q2 2024 | 70 | $2.2B | TSM, RDDT, NVDA, GEV, MU |
| Q1 2024 | 68 | $2.1B | MU, TSM, CEG, MELI, NEE |