Sycomore Asset Management

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Sycomore Asset Management reported 65 stock positions worth $604.5 million. Its top holding was Microsoft (MSFT) at 13.5% of the portfolio, followed by Waste Connections (WCN, 4.7%) and Workday Class A (WDAY, 4.0%). Compared with Q3 2025, it opened 10 new positions, sold out of 8 and reduced 1. The biggest buy was a new position in Progressive (PGR) and the biggest sale an exit from Nvidia (NVDA).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0001728681
Portfolio Value
$604.5M (Q4 2025)
SEC Filing
0001728681-26-000001 ↗ filed Feb 12, 2026

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 Q3 2025 Q4 2025: $604.5M $604.5M Q4 2025 Q1 2026: $718.0M Q1 2026 Q2 2026: $931.6M Q2 2026

Holdings 65 stocks · $604.5M
MSFT Microsoft Corp. 13.55% 189,860 $81.9M No change
WCN Waste Connections Inc. 4.67% 117,228 $28.2M No change
WDAY Workday Inc. Class A 3.99% 98,189 $24.1M No change
NOW ServiceNow Inc. 3.76% 25,703 $22.7M Reduce -80.0%
ACN Accenture PLC Class A 3.37% 57,242 $20.4M No change
MA Mastercard Inc. Class A 3.24% 39,834 $19.6M No change
STLA Stellantis NV 3.06% 1,110,051 $18.5M No change
LLY Eli Lilly & Co. 3.04% 20,238 $18.4M No change
SW Smurfit Westrock PLC 2.98% 488,737 $18.0M No change
MU Micron Technology Inc. 2.83% 155,733 $17.1M No change
TMUS T-Mobile US Inc. 2.64% 78,614 $16.0M No change
ETN Eaton Corp. PLC 2.45% 44,428 $14.8M No change
ALC Alcon Inc. filed as ALCON AG 2.41% 133,220 $14.6M No change
TMO Thermo Fisher Scientific Inc. 2.39% 23,318 $14.4M No change
PGR Progressive Corp. 2.16% 51,770 $13.1M New
CYBR Cyberark Software Ltd./Israel 2.11% 44,312 $12.7M New
RACE Ferrari NV 2.00% 23,649 $12.1M No change
MDB Mongodb Inc. 1.88% 41,780 $11.4M New
AMD Advanced Micro Devices 1.88% 67,942 $11.4M No change
URI United Rentals Inc. 1.87% 14,060 $11.3M No change
SNPS Synopsys Inc. 1.79% 21,054 $10.9M No change
INTU Intuit Inc. 1.77% 16,846 $10.7M New
ADI Analog Devices Inc. 1.64% 44,251 $9.9M New
PCOR Procore Technologies Inc. 1.58% 155,373 $9.6M New
P Everpure Inc. Class A filed as PURE STORAGE INC 1.57% 187,874 $9.5M No change
ISRG Intuitive Surgical Inc. 1.52% 18,945 $9.2M New
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
VRT Vertiv Holdings Co. Class A 1.28% 76,651 $7.7M New
TSM Taiwan Semiconductor-SP ADR 1.25% 40,524 $7.6M No change
SNOW Snowflake Inc. 1.18% 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. 1.01% 29,164 $6.1M No change
WAB Wabtec Corp. 1.01% 33,558 $6.1M No change
PANW Palo Alto Networks Inc. 0.97% 17,365 $5.9M No change
PWR Quanta Services Inc. 0.95% 19,455 $5.8M No change
S Sentinelone Inc. Class A 0.82% 207,688 $5.0M No change
AAPL Apple Inc. 0.81% 21,479 $4.9M No change
DAR Darling Ingredients Inc. 0.78% 130,096 $4.7M No change
OC Owens Corning 0.60% 20,947 $3.6M No change
NEE Nextera Energy Inc. 0.59% 42,889 $3.6M No change
CFLT Confluent Inc. Class A 0.58% 177,319 $3.5M No change
AWK American Water Works Co. Inc. 0.56% 23,553 $3.4M 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
AYI Acuity Inc. 0.34% 7,669 $2.1M New
FSLR First Solar Inc. 0.23% 5,544 $1.4M No change
TTE Totalenergies SE 0.16% 12,710 $944K New
ALAB Astera Labs Inc. 0.16% 17,231 $943K No change
DDOG Datadog Inc. Class A 0.13% 6,700 $765K No change
DLR Digital Realty Trust Inc. 0.08% 500,000 $487K No change
BABA Alibaba Group Holding-SP ADR 0.05% 2,800 $294K No change
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 No change
AMZN Amazon.com Inc. 0.01% 300 $57K No change
NXT Nextpower Inc. 0.00% 700 $6K No change
RUN Sunrun Inc. 0.00% 1,600 $3K No change

Portfolio Sells Q3 2025 → Q4 2025
NVDA Nvidia Corp. Sold out 0.00% −7.85
SYK Stryker Corp. Sold out 0.00% −2.86
CLH Clean Harbors Inc. Sold out 0.00% −1.27
AMAT Applied Materials Inc. Sold out 0.00% −0.78
XYL Xylem Inc. Sold out 0.00% −0.58
QGEN Qiagen N.V. Sold out 0.00% −0.55
CSL Carlisle Cos Inc. Sold out 0.00% −0.22
WFG West Fraser Timber Co. Ltd. Sold out 0.00% −0.10
NOW ServiceNow Inc. Reduce -80.0% 3.76% −0.02

Portfolio Buys Q3 2025 → Q4 2025
PGR Progressive Corp. New 2.16% +2.16
CYBR Cyberark Software Ltd./Israel New 2.11% +2.11
MDB Mongodb Inc. New 1.88% +1.88
INTU Intuit Inc. New 1.77% +1.77
ADI Analog Devices Inc. New 1.64% +1.64
PCOR Procore Technologies Inc. New 1.58% +1.58
ISRG Intuitive Surgical Inc. New 1.52% +1.52
VRT Vertiv Holdings Co. Class A New 1.28% +1.28
AYI Acuity Inc. New 0.34% +0.34
TTE Totalenergies SE New 0.16% +0.16

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