Summit Partners Public Asset Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Summit Partners Public Asset Management, LLC reported 69 stock positions worth $3.6 billion. Its top holding was Sandisk (SNDK) at 4.9% of the portfolio, followed by GE Vernova (GEV, 4.5%) and Insmed (INSM, 4.5%). Compared with Q3 2025, it opened 21 new positions, sold out of 24, added to 21 and reduced 22. The biggest buy was Cidara Therapeutics (CDTX, shares +267%) and the biggest sale an exit from Verona Pharma (VRNA).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0001638555
- Portfolio Value
- $3.6B (Q4 2025)
- SEC Filing
- 0001172661-26-000834 ↗ filed Feb 17, 2026
Holdings Value
Holdings 69 stocks · $3.6B
| SNDK Sandisk Corp. | 4.94% | 739,745 | $175.6M | Reduce -17.4% |
| GEV GE Vernova Inc. | 4.47% | 243,322 | $159.0M | Reduce -9.3% |
| INSM Insmed Inc. | 4.45% | 909,080 | $158.2M | Reduce -12.7% |
| NVDA Nvidia Corp. | 4.08% | 776,861 | $144.9M | Add +34.2% |
| MDB Mongodb Inc. | 3.50% | 296,682 | $124.5M | Add +9.0% |
| WGS Genedx Holdings Corp. | 3.37% | 920,587 | $119.7M | Add +11.8% |
| SPOT Spotify Technology SA | 3.33% | 203,808 | $118.4M | Add +3.6% |
| IONS Ionis Pharmaceuticals Inc. | 3.26% | 1,462,706 | $115.7M | Add +95.0% |
| TSEM Tower Semiconductor Ltd. | 3.18% | 962,458 | $113.0M | Reduce -10.2% |
| CVNA Carvana Co. | 3.00% | 253,000 | $106.8M | Add +9.6% |
| CDTX Cidara Therapeutics Inc. | 2.97% | 477,527 | $105.5M | Add +267.3% |
| FROG Jfrog Ltd. | 2.79% | 1,587,525 | $99.2M | Add +77.8% |
| SEI Solaris Energy Infrastructur | 2.69% | 2,076,324 | $95.4M | Add +15.6% |
| NTRA Natera Inc. | 2.63% | 407,653 | $93.4M | Add +229.8% |
| RDDT Reddit Inc. Class A | 2.45% | 379,500 | $87.2M | Reduce -2.6% |
| GH Guardant Health Inc. | 2.45% | 851,958 | $87.0M | Add +674.5% |
| CRDO Credo Technology Group Holdi | 2.44% | 601,886 | $86.6M | Add +96.0% |
| ALAB Astera Labs Inc. | 2.39% | 510,000 | $84.8M | No change |
| RBRK Rubrik Inc. Class A | 2.12% | 985,000 | $75.3M | Add +8.4% |
| ARGX Argenx SE - ADR | 1.95% | 82,620 | $69.5M | Reduce -10.6% |
| AEIS Advanced Energy Industries | 1.89% | 320,918 | $67.2M | Add +28.0% |
| BBIO Bridgebio Pharma Inc. | 1.75% | 813,794 | $62.2M | Add +0.9% |
| MKSI MKS Inc. | 1.71% | 381,500 | $61.0M | Reduce -36.0% |
| COMP Compass Inc. Class A | 1.54% | 5,185,000 | $54.8M | Reduce -2.2% |
| IOT Samsara Inc. Class A | 1.54% | 1,544,499 | $54.8M | Reduce -9.3% |
| MSFT Microsoft Corp. | 1.54% | 113,163 | $54.7M | Reduce -7.8% |
| TSM Taiwan Semiconductor-SP ADR | 1.51% | 176,500 | $53.6M | Reduce -42.2% |
| SIMO Silicon Motion Technol-ADR | 1.39% | 534,932 | $49.6M | Reduce -4.1% |
| CEG Constellation Energy | 1.29% | 130,000 | $45.9M | No change |
| SITM Sitime Corp. | 1.23% | 123,958 | $43.8M | New |
| XMTR Xometry Inc. Class A | 1.17% | 700,381 | $41.7M | Reduce -16.5% |
| CSTL Castle Biosciences Inc. | 1.16% | 1,058,725 | $41.2M | Add +164.7% |
| PVLA Palvella Therapeutics Inc. | 1.15% | 389,420 | $40.8M | Add +1016.0% |
| UPWK Upwork Inc. | 1.13% | 2,025,000 | $40.1M | New |
| SKY Champion Homes Inc. | 1.12% | 470,832 | $39.8M | Reduce -4.5% |
| AORT Artivion Inc. | 1.11% | 863,867 | $39.4M | New |
| MU Micron Technology Inc. | 1.04% | 130,100 | $37.1M | New |
| VRT Vertiv Holdings Co. Class A | 1.03% | 226,965 | $36.8M | No change |
| HTFL Heartflow Inc. | 1.03% | 1,259,121 | $36.7M | Add +48.4% |
| FIVE Five Below | 0.90% | 170,000 | $32.0M | New |
| ARWR Arrowhead Pharmaceuticals Inc. | 0.88% | 470,000 | $31.2M | New |
| SNOW Snowflake Inc. | 0.87% | 140,461 | $30.8M | Reduce -43.7% |
| ESTA Establishment Labs Holdings | 0.80% | 391,850 | $28.6M | Reduce -8.9% |
| VIAV Viavi Solutions Inc. | 0.80% | 1,599,365 | $28.5M | Reduce -20.9% |
| POWL Powell Industries Inc. | 0.76% | 84,963 | $27.1M | Reduce -40.5% |
| FSLR First Solar Inc. | 0.73% | 100,000 | $26.1M | Add +66.7% |
| DY Dycom Industries Inc. | 0.64% | 67,000 | $22.6M | New |
| LRCX Lam Research Corp. | 0.64% | 132,000 | $22.6M | New |
| BRZE Braze Inc. Class A | 0.63% | 651,000 | $22.3M | New |
| FIX Comfort Systems USA Inc. | 0.53% | 20,000 | $18.7M | Reduce -50.0% |
| ZETA Zeta Global Holdings Corp. Class A | 0.51% | 886,141 | $18.0M | Add +13.3% |
| ODFL Old Dominion Freight Line | 0.44% | 100,000 | $15.7M | New |
| VIA Via Transportation Inc. Class A | 0.40% | 490,625 | $14.2M | New |
| DOCN Digitalocean Holdings Inc. | 0.38% | 284,000 | $13.7M | New |
| MIR Mirion Technologies Inc. | 0.33% | 500,000 | $11.7M | No change |
| AMZN Amazon.com Inc. | 0.29% | 44,000 | $10.2M | New |
| KMTS Kestra Medical Technologies | 0.26% | 350,000 | $9.3M | New |
| JOBY Joby Aviation Inc. | 0.26% | 700,000 | $9.2M | New |
| TRMB Trimble Inc. | 0.20% | 93,000 | $7.3M | New |
| WAY Waystar Holding Corp. | 0.18% | 196,723 | $6.4M | Reduce -82.8% |
| AGYS Agilysys Inc. | 0.18% | 54,000 | $6.4M | New |
| TTAN Servicetitan Inc. Class A | 0.16% | 53,000 | $5.6M | New |
| VEEV Veeva Systems Inc. Class A | 0.13% | 20,000 | $4.5M | No change |
| AMBQ Ambiq Micro Inc. | 0.10% | 123,597 | $3.5M | Add +32.0% |
| CRUS Cirrus Logic Inc. | 0.06% | 18,000 | $2.1M | Reduce -14.3% |
| ADI Analog Devices Inc. | 0.05% | 7,000 | $1.9M | Reduce -30.0% |
| BLLN Billiontoone Inc. Class A | 0.05% | 19,783 | $1.6M | New |
| LITE Lumentum Holdings Inc. | 0.03% | 3,000 | $1.1M | New |
| CLS Celestica Inc. | 0.02% | 3,000 | $887K | New |
Options reported separately and not counted above: INSM puts ($94.0M), SNDK puts ($78.3M), SEI puts ($71.7M), SPOT puts ($66.2M), MDB puts ($63.0M), CVNA puts ($60.8M), SMH puts ($54.0M), CRDO puts ($46.8M), META puts ($46.2M), AMZN calls ($46.2M), NVDA puts ($37.3M), HUBS calls ($36.1M), and 43 more.
Portfolio Sells Q3 2025 → Q4 2025
| VRNA Verona Pharma Ltd. | Sold out | 0.00% | −6.20 |
| CVLT Commvault Systems Inc. | Sold out | 0.00% | −2.44 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −1.38 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -42.2% | 1.51% | −1.27 |
| WAY Waystar Holding Corp. | Reduce -82.8% | 0.18% | −1.24 |
| AXON Axon Enterprise Inc. | Sold out | 0.00% | −0.98 |
| SNOW Snowflake Inc. | Reduce -43.7% | 0.87% | −0.97 |
| GEV GE Vernova Inc. | Reduce -9.3% | 4.47% | −0.90 |
| FND Floor & Decor Holdings Inc. Class A | Sold out | 0.00% | −0.84 |
| HUBS HubSpot Inc. | Sold out | 0.00% | −0.73 |
| MKSI MKS Inc. | Reduce -36.0% | 1.71% | −0.69 |
| POWL Powell Industries Inc. | Reduce -40.5% | 0.76% | −0.66 |
| ASND Ascendis Pharma A/S | Sold out | 0.00% | −0.65 |
| KLAC KLA Corp. | Sold out | 0.00% | −0.60 |
| AKRO Akero Therapeutics Inc. | Sold out | 0.00% | −0.58 |
| ESTC Elastic NV | Sold out | 0.00% | −0.55 |
| FIX Comfort Systems USA Inc. | Reduce -50.0% | 0.53% | −0.55 |
| MSFT Microsoft Corp. | Reduce -7.8% | 1.54% | −0.53 |
| IOT Samsara Inc. Class A | Reduce -9.3% | 1.54% | −0.53 |
| UPST Upstart Holdings Inc. | Sold out | 0.00% | −0.50 |
| LENZ Lenz Therapeutics Inc. | Sold out | 0.00% | −0.49 |
| ADPT Adaptive Biotechnologies | Sold out | 0.00% | −0.49 |
| RDDT Reddit Inc. Class A | Reduce -2.6% | 2.45% | −0.46 |
| AAON Aaon Inc. | Sold out | 0.00% | −0.46 |
| INSM Insmed Inc. | Reduce -12.7% | 4.45% | −0.44 |
| SIMO Silicon Motion Technol-ADR | Reduce -4.1% | 1.39% | −0.33 |
| XMTR Xometry Inc. Class A | Reduce -16.5% | 1.17% | −0.32 |
| IRM Iron Mountain Inc. | Sold out | 0.00% | −0.28 |
| ARGX Argenx SE - ADR | Reduce -10.6% | 1.95% | −0.27 |
| AMPL Amplitude Inc. Class A | Sold out | 0.00% | −0.17 |
| PAY Paymentus Holdings Inc. Class A | Sold out | 0.00% | −0.16 |
| BLND Blend Labs Inc. Class A | Sold out | 0.00% | −0.15 |
| SKY Champion Homes Inc. | Reduce -4.5% | 1.12% | −0.11 |
| MNDY Monday.com Ltd. | Sold out | 0.00% | −0.09 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.07 |
| GDS GDS Holdings Ltd. - ADR | Sold out | 0.00% | −0.06 |
| STM Stmicroelectronics NV-NY SHS | Sold out | 0.00% | −0.06 |
| TER Teradyne Inc. | Sold out | 0.00% | −0.04 |
| VIAV Viavi Solutions Inc. | Reduce -20.9% | 0.80% | −0.03 |
| ADI Analog Devices Inc. | Reduce -30.0% | 0.05% | −0.03 |
| CRUS Cirrus Logic Inc. | Reduce -14.3% | 0.06% | −0.03 |
| ADTN Adtran Holdings Inc. | Sold out | 0.00% | −0.02 |
| COMP Compass Inc. Class A | Reduce -2.2% | 1.54% | +0.16 |
| ESTA Establishment Labs Holdings | Reduce -8.9% | 0.80% | +0.23 |
| TSEM Tower Semiconductor Ltd. | Reduce -10.2% | 3.18% | +0.65 |
| SNDK Sandisk Corp. | Reduce -17.4% | 4.94% | +1.67 |
Portfolio Buys Q3 2025 → Q4 2025
| CDTX Cidara Therapeutics Inc. | Add +267.3% | 2.97% | +2.56 |
| GH Guardant Health Inc. | Add +674.5% | 2.45% | +2.22 |
| NTRA Natera Inc. | Add +229.8% | 2.63% | +1.98 |
| IONS Ionis Pharmaceuticals Inc. | Add +95.0% | 3.26% | +1.66 |
| FROG Jfrog Ltd. | Add +77.8% | 2.79% | +1.41 |
| SITM Sitime Corp. | New | 1.23% | +1.23 |
| UPWK Upwork Inc. | New | 1.13% | +1.13 |
| AORT Artivion Inc. | New | 1.11% | +1.11 |
| PVLA Palvella Therapeutics Inc. | Add +1016.0% | 1.15% | +1.08 |
| MU Micron Technology Inc. | New | 1.04% | +1.04 |
| CRDO Credo Technology Group Holdi | Add +96.0% | 2.44% | +0.98 |
| FIVE Five Below | New | 0.90% | +0.90 |
| ARWR Arrowhead Pharmaceuticals Inc. | New | 0.88% | +0.88 |
| CSTL Castle Biosciences Inc. | Add +164.7% | 1.16% | +0.86 |
| MDB Mongodb Inc. | Add +9.0% | 3.50% | +0.75 |
| DY Dycom Industries Inc. | New | 0.64% | +0.64 |
| LRCX Lam Research Corp. | New | 0.64% | +0.64 |
| BRZE Braze Inc. Class A | New | 0.63% | +0.63 |
| NVDA Nvidia Corp. | Add +34.2% | 4.08% | +0.56 |
| AEIS Advanced Energy Industries | Add +28.0% | 1.89% | +0.50 |
| WGS Genedx Holdings Corp. | Add +11.8% | 3.37% | +0.48 |
| ODFL Old Dominion Freight Line | New | 0.44% | +0.44 |
| VIA Via Transportation Inc. Class A | New | 0.40% | +0.40 |
| BBIO Bridgebio Pharma Inc. | Add +0.9% | 1.75% | +0.39 |
| DOCN Digitalocean Holdings Inc. | New | 0.38% | +0.38 |
| SEI Solaris Energy Infrastructur | Add +15.6% | 2.69% | +0.35 |
| FSLR First Solar Inc. | Add +66.7% | 0.73% | +0.30 |
| AMZN Amazon.com Inc. | New | 0.29% | +0.29 |
| KMTS Kestra Medical Technologies | New | 0.26% | +0.26 |
| JOBY Joby Aviation Inc. | New | 0.26% | +0.26 |
| TRMB Trimble Inc. | New | 0.20% | +0.20 |
| AGYS Agilysys Inc. | New | 0.18% | +0.18 |
| CVNA Carvana Co. | Add +9.6% | 3.00% | +0.17 |
| TTAN Servicetitan Inc. Class A | New | 0.16% | +0.16 |
| HTFL Heartflow Inc. | Add +48.4% | 1.03% | +0.10 |
| BLLN Billiontoone Inc. Class A | New | 0.05% | +0.05 |
| LITE Lumentum Holdings Inc. | New | 0.03% | +0.03 |
| CLS Celestica Inc. | New | 0.02% | +0.02 |
| AMBQ Ambiq Micro Inc. | Add +32.0% | 0.10% | +0.01 |
| ZETA Zeta Global Holdings Corp. Class A | Add +13.3% | 0.51% | +0.00 |
| RBRK Rubrik Inc. Class A | Add +8.4% | 2.12% | −0.32 |
| SPOT Spotify Technology SA | Add +3.6% | 3.33% | −1.14 |
Options Activity Q3 2025 → Q4 2025
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 180,000 | $108.1Mbefore exit |
| MSFT Microsoft Corp. | call | Sold out | 194,600 | $100.8Mbefore exit |
| INSM Insmed Inc. | put | Add +8.0% | 540,000 | $94.0M |
| SNDK Sandisk Corp. | put | Reduce -43.6% | 330,000 | $78.3M |
| SEI Solaris Energy Infrastructur | put | Reduce -9.8% | 1,560,000 | $71.7M |
| SPOT Spotify Technology SA | put | Reduce -22.7% | 114,000 | $66.2M |
| CVNA Carvana Co. | put | Reduce -7.7% | 144,000 | $60.8M |
| SMH Vaneck Semiconductor ETF | put | New | 150,000 | $54.0M |
| CRDO Credo Technology Group Holdi | put | New | 325,000 | $46.8M |
| META Meta Platforms Inc. Class A | put | New | 70,000 | $46.2M |
| AMZN Amazon.com Inc. | call | New | 200,000 | $46.2M |
| IWM iShares Russell 2000 ETF | call | Sold out | 177,700 | $43.0Mbefore exit |
| JBL Jabil Inc. | put | Sold out | 192,100 | $41.7Mbefore exit |
| IONS Ionis Pharmaceuticals Inc. | call | Sold out | 599,100 | $39.2Mbefore exit |
| KLAC KLA Corp. | call | Sold out | 34,600 | $37.3Mbefore exit |
| NVDA Nvidia Corp. | put | Reduce -36.5% | 200,000 | $37.3M |
| HUBS HubSpot Inc. | call | Add +350.0% | 90,000 | $36.1M |
| AXON Axon Enterprise Inc. | put | Sold out | 50,000 | $35.9Mbefore exit |
| CEG Constellation Energy | put | Reduce -23.1% | 100,000 | $35.3M |
| HD Home Depot Inc. | call | New | 100,000 | $34.4M |
| SNOW Snowflake Inc. | put | Sold out | 150,000 | $33.8Mbefore exit |
| RCL Royal Caribbean Cruises Ltd. | call | New | 115,000 | $32.1M |
| KKR KKR & Co. Inc. | call | Sold out | 245,000 | $31.8Mbefore exit |
| TWLO Twilio Inc. Class A | put | Sold out | 311,000 | $31.1Mbefore exit |
| AAPL Apple Inc. | call | Sold out | 119,700 | $30.5Mbefore exit |
| IGV iShares Expanded Tech-Softwa | put | New | 275,000 | $29.1M |
| TSEM Tower Semiconductor Ltd. | put | Reduce -18.3% | 245,000 | $28.8M |
| PANW Palo Alto Networks Inc. | call | New | 150,000 | $27.6M |
| RBRK Rubrik Inc. Class A | put | Sold out | 333,800 | $27.5Mbefore exit |
| DDOG Datadog Inc. Class A | call | New | 200,000 | $27.2M |
| IWM iShares Russell 2000 ETF | put | Sold out | 100,000 | $24.2Mbefore exit |
| IONS Ionis Pharmaceuticals Inc. | put | New | 300,000 | $23.7M |
| CRWD CrowdStrike Holdings Inc. Class A | call | New | 50,000 | $23.4M |
| ARGX Argenx SE - ADR | put | Sold out | 30,000 | $22.1Mbefore exit |
| SIMO Silicon Motion Technol-ADR | put | Sold out | 225,000 | $21.3Mbefore exit |
| IREN Iren Ltd. | put | Sold out | 446,000 | $20.9Mbefore exit |
| MKSI MKS Inc. | put | Reduce -40.0% | 129,000 | $20.6M |
| CVLT Commvault Systems Inc. | call | Sold out | 96,000 | $18.1Mbefore exit |
| ORCL Oracle Corp. | call | Sold out | 63,000 | $17.7Mbefore exit |
| MIR Mirion Technologies Inc. | call | Sold out | 700,000 | $16.3Mbefore exit |
| RMBS Rambus Inc. | call | Sold out | 155,000 | $16.2Mbefore exit |
| CRDO Credo Technology Group Holdi | call | Add +175.0% | 110,000 | $15.8M |
| ODFL Old Dominion Freight Line | call | New | 100,000 | $15.7M |
| UPST Upstart Holdings Inc. | put | Sold out | 300,000 | $15.2Mbefore exit |
| AMD Advanced Micro Devices | put | New | 70,000 | $15.0M |
| QCOM Qualcomm Inc. | put | Sold out | 90,000 | $15.0Mbefore exit |
| CRUS Cirrus Logic Inc. | call | Sold out | 117,500 | $14.7Mbefore exit |
| ANET Arista Networks Inc. | call | Sold out | 100,000 | $14.6Mbefore exit |
| INSM Insmed Inc. | call | Sold out | 100,000 | $14.4Mbefore exit |
| GTLB Gitlab Inc. Class A | call | Sold out | 307,000 | $13.8Mbefore exit |
Showing the first 50 of 126.
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 |