Sycomore Asset Management

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 21, 2025), Sycomore Asset Management reported 63 stock positions worth $600.9 million. Its top holding was Microsoft (MSFT) at 13.6% of the portfolio, followed by Nvidia (NVDA, 7.9%) and Waste Connections (WCN, 4.7%). Compared with Q2 2025, it opened 7 new positions and sold out of 8. The biggest buy was a new position in Accenture Class A (ACN) and the biggest sale an exit from Broadcom (AVGO).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0001728681
Portfolio Value
$600.9M (Q3 2025)
SEC Filing
0001728681-25-000011 ↗ filed Nov 21, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $457.4M Q1 2024 Q2 2024: $568.5M Q2 2024 Q3 2024: $602.5M Q3 2024 Q4 2024: $701.3M Q4 2024 Q1 2025: $704.6M Q1 2025 Q2 2025: $644.4M Q2 2025 Q3 2025: $600.9M $600.9M Q3 2025 Q4 2025: $604.5M Q4 2025 Q1 2026: $718.0M Q1 2026 Q2 2026: $931.6M Q2 2026

Holdings 63 stocks · $600.9M
MSFT Microsoft Corp. 13.63% 189,860 $81.9M No change
NVDA Nvidia Corp. 7.85% 380,389 $47.2M No change
WCN Waste Connections Inc. 4.69% 117,228 $28.2M No change
WDAY Workday Inc. Class A 4.01% 98,189 $24.1M No change
NOW ServiceNow Inc. 3.78% 25,703 $22.7M No change
ACN Accenture PLC Class A 3.39% 57,242 $20.4M New
MA Mastercard Inc. Class A 3.26% 39,834 $19.6M No change
LLY Eli Lilly & Co. 3.06% 20,238 $18.4M No change
SW Smurfit Westrock PLC 3.00% 488,737 $18.0M No change
STLA Stellantis NV 2.99% 1,110,051 $17.9M No change
SYK Stryker Corp. 2.86% 47,578 $17.2M No change
MU Micron Technology Inc. 2.85% 155,733 $17.1M No change
TMUS T-Mobile US Inc. 2.66% 78,614 $16.0M No change
ETN Eaton Corp. PLC 2.46% 44,428 $14.8M No change
TMO Thermo Fisher Scientific Inc. 2.40% 23,318 $14.4M No change
ALC Alcon Inc. filed as ALCON AG 2.31% 133,220 $13.9M No change
RACE Ferrari NV 1.95% 23,649 $11.7M No change
AMD Advanced Micro Devices 1.89% 67,942 $11.4M New
URI United Rentals Inc. 1.88% 14,060 $11.3M No change
SNPS Synopsys Inc. 1.81% 21,054 $10.9M No change
P Everpure Inc. Class A filed as PURE STORAGE INC 1.58% 187,874 $9.5M No change
VEEV Veeva Systems Inc. Class A 1.40% 40,273 $8.4M No change
DUOL Duolingo 1.30% 28,184 $7.8M No change
GOOGL Alphabet Inc. Class A 1.29% 47,803 $7.8M No change
CLH Clean Harbors Inc. 1.27% 31,437 $7.6M No change
TSM Taiwan Semiconductor-SP ADR 1.26% 40,524 $7.6M No change
SNOW Snowflake Inc. 1.19% 63,637 $7.2M No change
GTLB Gitlab Inc. Class A 1.14% 133,668 $6.9M No change
DE Deere & Co. 1.08% 15,835 $6.5M No change
VRSK Verisk Analytics Inc. 1.06% 24,085 $6.4M No change
JPM JPMorgan Chase & Co. 1.02% 29,164 $6.1M No change
WAB Wabtec Corp. 1.02% 33,558 $6.1M No change
PANW Palo Alto Networks Inc. 0.98% 17,365 $5.9M No change
PWR Quanta Services Inc. 0.96% 19,455 $5.8M No change
S Sentinelone Inc. Class A 0.83% 207,688 $5.0M No change
AAPL Apple Inc. 0.81% 21,479 $4.9M No change
DAR Darling Ingredients Inc. 0.79% 130,096 $4.7M No change
AMAT Applied Materials Inc. 0.78% 22,252 $4.7M New
OC Owens Corning 0.61% 20,947 $3.6M No change
NEE Nextera Energy Inc. 0.60% 42,889 $3.6M No change
CFLT Confluent Inc. Class A 0.58% 177,319 $3.5M No change
XYL Xylem Inc. 0.58% 25,939 $3.5M New
AWK American Water Works Co. Inc. 0.56% 23,553 $3.4M No change
QGEN Qiagen N.V. 0.55% 64,024 $3.3M No change
ON On Semiconductor 0.54% 44,450 $3.3M No change
COHR Coherent Corp. 0.53% 34,374 $3.2M No change
CRWD CrowdStrike Holdings Inc. Class A 0.51% 10,854 $3.1M No change
RSG Republic Services Inc. 0.46% 13,884 $2.8M No change
MTZ Mastec Inc. 0.46% 22,437 $2.8M No change
ANET Arista Networks Inc. 0.45% 7,039 $2.7M No change
FSLR First Solar Inc. 0.24% 5,544 $1.4M No change
CSL Carlisle Cos Inc. 0.22% 3,000 $1.3M No change
ALAB Astera Labs Inc. 0.16% 17,231 $943K No change
DDOG Datadog Inc. Class A 0.13% 6,700 $765K No change
WFG West Fraser Timber Co. Ltd. 0.10% 6,500 $611K No change
DLR Digital Realty Trust Inc. 0.08% 500,000 $473K No change
BABA Alibaba Group Holding-SP ADR 0.05% 2,800 $294K New
TAN Invesco Solar ETF 0.05% 6,500 $273K No change
CQQQ Invesco China Technology ETF 0.04% 6,100 $233K No change
BIDU Baidu Inc. - Spon ADR 0.01% 600 $62K New
AMZN Amazon.com Inc. 0.01% 300 $57K No change
NXT Nextpower Inc. filed as NEXTRACKER INC 0.00% 700 $6K No change
RUN Sunrun Inc. 0.00% 1,600 $3K New

Portfolio Sells Q2 2025 → Q3 2025
AVGO Broadcom Inc. Sold out 0.00% −2.88
PGR Progressive Corp. Sold out 0.00% −2.03
CYBR Cyberark Software Ltd./Israel Sold out 0.00% −1.98
MDB Mongodb Inc. Sold out 0.00% −1.77
PCOR Procore Technologies Inc. Sold out 0.00% −1.49
ISRG Intuitive Surgical Inc. Sold out 0.00% −1.43
VRT Vertiv Holdings Co. Class A Sold out 0.00% −1.20
AYI Acuity Inc. Sold out 0.00% −0.32

Portfolio Buys Q2 2025 → Q3 2025
ACN Accenture PLC Class A New 3.39% +3.39
AMD Advanced Micro Devices New 1.89% +1.89
AMAT Applied Materials Inc. New 0.78% +0.78
XYL Xylem Inc. New 0.58% +0.58
BABA Alibaba Group Holding-SP ADR New 0.05% +0.05
BIDU Baidu Inc. - Spon ADR New 0.01% +0.01
RUN Sunrun Inc. New 0.00% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 72$931.6MMU, NVDA, MSFT, AVGO, AMD
Q1 2026 73$718.0MMSFT, NVDA, WCN, AZN, WDAY
Q4 2025 65$604.5MMSFT, WCN, WDAY, NOW, ACN
Q3 2025 63$600.9MMSFT, NVDA, WCN, WDAY, NOW
Q2 2025 64$644.4MMSFT, NVDA, WCN, WDAY, NOW
Q1 2025 73$704.6MMSFT, NVDA, WCN, WDAY, NOW
Q4 2024 73$701.3MMSFT, NVDA, WCN, WDAY, NOW
Q3 2024 70$602.5MNVDA, MSFT, NOW, SW, AVGO
Q2 2024 68$568.5MMSFT, NVDA, LLY, NOW, AMD
Q1 2024 68$457.4MMSFT, NVDA, NOW, AMD, INTU