Whale Rock Capital Management
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Alex Sacerdote's Whale Rock Capital Management reported 36 stock positions worth $8.5 billion. Its top holding was Celestica (CLS) at 8.7% of the portfolio, followed by AppLovin Class A (APP, 8.2%) and Nvidia (NVDA, 7.0%). Compared with Q2 2025, it opened 2 new positions, sold out of 8, added to 13 and reduced 16. The biggest buy was Bloom Energy Class A (BE, shares +131%) and the biggest sale an exit from Draftkings Class A (DKNG).
- Most Recent 13F
- Q2 2026
- Notable People
- Alex Sacerdote
- Location
- Boston, MA
- CIK
- 0001387322
- Portfolio Value
- $8.5B (Q3 2025)
- SEC Filing
- 0001172661-25-005025 ↗ filed Nov 14, 2025
Holdings Value
Holdings 36 stocks · $8.5B
| CLS Celestica Inc. | 8.68% | 2,993,335 | $737.5M | Reduce -35.5% |
| APP AppLovin Corp. Class A | 8.22% | 971,404 | $698.0M | Reduce -20.7% |
| NVDA Nvidia Corp. | 7.00% | 3,186,551 | $594.5M | Reduce -11.3% |
| META Meta Platforms Inc. Class A | 6.31% | 729,822 | $536.0M | Add +17.3% |
| RBLX Roblox Corp. Class A | 6.07% | 3,719,580 | $515.2M | Add +8.4% |
| AVGO Broadcom Inc. | 5.56% | 1,430,911 | $472.1M | Reduce -12.6% |
| BE Bloom Energy Corp. Class A | 4.66% | 4,680,973 | $395.9M | Add +130.5% |
| AMZN Amazon.com Inc. | 3.74% | 1,447,575 | $317.8M | Reduce -9.1% |
| GOOGL Alphabet Inc. Class A | 3.35% | 1,170,283 | $284.5M | New |
| DUOL Duolingo | 3.29% | 868,169 | $279.4M | Add +77.6% |
| NFLX Netflix Inc. | 3.26% | 230,719 | $276.6M | Reduce -8.9% |
| SMTC Semtech Corp. | 2.95% | 3,504,965 | $250.4M | Reduce -12.2% |
| FN Fabrinet | 2.93% | 682,000 | $248.7M | Add +7.5% |
| PI Impinj Inc. | 2.61% | 1,224,585 | $221.3M | Add +38.2% |
| GLW Corning Inc. | 2.53% | 2,622,286 | $215.1M | Add +39.8% |
| CVNA Carvana Co. | 2.52% | 567,711 | $214.2M | Reduce -2.6% |
| SE Sea Ltd.-ADR | 2.44% | 1,160,795 | $207.5M | Reduce -17.6% |
| TSM Taiwan Semiconductor-SP ADR | 2.39% | 726,803 | $203.0M | Add +20.0% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 2.34% | 12,418,659 | $198.8M | Reduce -30.4% |
| CIEN Ciena Corp. | 2.29% | 1,337,800 | $194.9M | Add +60.0% |
| MDB Mongodb Inc. | 2.02% | 552,100 | $171.4M | Add +31.6% |
| MSFT Microsoft Corp. | 1.83% | 300,509 | $155.6M | Add +53.6% |
| SITM Sitime Corp. | 1.70% | 480,501 | $144.8M | Add +19.3% |
| MELI MercadoLibre Inc. | 1.68% | 60,940 | $142.4M | Reduce -2.6% |
| FROG Jfrog Ltd. | 1.62% | 2,908,397 | $137.7M | Add +69.7% |
| TTMI TTM Technologies | 1.37% | 2,016,285 | $116.1M | Reduce -16.8% |
| SHOP Shopify Inc. Class A | 1.34% | 765,466 | $113.8M | New |
| VRT Vertiv Holdings Co. Class A | 1.14% | 639,965 | $96.5M | Reduce -2.6% |
| KVYO Klaviyo Inc. Class A | 1.00% | 3,056,967 | $84.6M | Reduce -17.0% |
| HUBS HubSpot Inc. | 0.82% | 149,246 | $69.8M | No change |
| COHR Coherent Corp. | 0.58% | 459,398 | $49.5M | Reduce -54.4% |
| HPE Hewlett Packard Enterprise | 0.55% | 1,908,017 | $46.9M | No change |
| OKTA Okta Inc. | 0.47% | 434,854 | $39.9M | No change |
| CHYM Chime Financial Inc. Class A | 0.33% | 1,398,466 | $28.2M | No change |
| CPNG Coupang Inc. | 0.29% | 770,752 | $24.8M | Reduce -78.3% |
| HNGE Hinge Health Inc. Class A | 0.10% | 173,544 | $8.5M | No change |
Portfolio Sells Q2 2025 → Q3 2025
| DKNG Draftkings Inc. Class A | Sold out | 0.00% | −3.18 |
| NFLX Netflix Inc. | Reduce -8.9% | 3.26% | −1.45 |
| MNDY Monday.com Ltd. | Sold out | 0.00% | −1.44 |
| CLS Celestica Inc. | Reduce -35.5% | 8.68% | −1.36 |
| AFRM Affirm Holdings Inc. | Sold out | 0.00% | −1.22 |
| CPNG Coupang Inc. | Reduce -78.3% | 0.29% | −1.19 |
| AMZN Amazon.com Inc. | Reduce -9.1% | 3.74% | −1.11 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -30.4% | 2.34% | −1.05 |
| INTU Intuit Inc. | Sold out | 0.00% | −0.95 |
| NVDA Nvidia Corp. | Reduce -11.3% | 7.00% | −0.87 |
| KVYO Klaviyo Inc. Class A | Reduce -17.0% | 1.00% | −0.72 |
| AVGO Broadcom Inc. | Reduce -12.6% | 5.56% | −0.70 |
| SE Sea Ltd.-ADR | Reduce -17.6% | 2.44% | −0.68 |
| COHR Coherent Corp. | Reduce -54.4% | 0.58% | −0.66 |
| MELI MercadoLibre Inc. | Reduce -2.6% | 1.68% | −0.59 |
| SLAB Silicon Laboratories Inc. | Sold out | 0.00% | −0.51 |
| ENTG Entegris Inc. | Sold out | 0.00% | −0.47 |
| SMCI Super Micro Computer Inc. | Sold out | 0.00% | −0.38 |
| ALKT Alkami Technology Inc. | Sold out | 0.00% | −0.28 |
| CVNA Carvana Co. | Reduce -2.6% | 2.52% | −0.20 |
| VRT Vertiv Holdings Co. Class A | Reduce -2.6% | 1.14% | −0.03 |
| TTMI TTM Technologies | Reduce -16.8% | 1.37% | −0.00 |
| SMTC Semtech Corp. | Reduce -12.2% | 2.95% | +0.45 |
| APP AppLovin Corp. Class A | Reduce -20.7% | 8.22% | +2.27 |
Portfolio Buys Q2 2025 → Q3 2025
| BE Bloom Energy Corp. Class A | Add +130.5% | 4.66% | +3.99 |
| GOOGL Alphabet Inc. Class A | New | 3.35% | +3.35 |
| CIEN Ciena Corp. | Add +60.0% | 2.29% | +1.35 |
| SHOP Shopify Inc. Class A | New | 1.34% | +1.34 |
| PI Impinj Inc. | Add +38.2% | 2.61% | +1.24 |
| GLW Corning Inc. | Add +39.8% | 2.53% | +1.16 |
| RBLX Roblox Corp. Class A | Add +8.4% | 6.07% | +1.06 |
| MDB Mongodb Inc. | Add +31.6% | 2.02% | +0.80 |
| FROG Jfrog Ltd. | Add +69.7% | 1.62% | +0.58 |
| SITM Sitime Corp. | Add +19.3% | 1.70% | +0.51 |
| DUOL Duolingo | Add +77.6% | 3.29% | +0.51 |
| TSM Taiwan Semiconductor-SP ADR | Add +20.0% | 2.39% | +0.49 |
| MSFT Microsoft Corp. | Add +53.6% | 1.83% | +0.48 |
| FN Fabrinet | Add +7.5% | 2.93% | +0.34 |
| META Meta Platforms Inc. Class A | Add +17.3% | 6.31% | −0.06 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 35 | $12.5B | SNDK, AMD, GOOGL, TTMI, ALAB |
| Q1 2026 | 35 | $7.7B | GOOGL, SNDK, CLS, AMZN, TTMI |
| Q4 2025 | 32 | $7.8B | GOOGL, CLS, APP, CVNA, AMZN |
| Q3 2025 | 36 | $8.5B | CLS, APP, NVDA, META, RBLX |
| Q2 2025 | 42 | $7.2B | CLS, NVDA, META, AVGO, APP |
| Q1 2025 | 32 | $5.8B | CLS, APP, AMZN, META, DUOL |
| Q4 2024 | 38 | $8.4B | AMZN, AVGO, APP, CLS, META |
| Q3 2024 | 36 | $7.1B | AMZN, CLS, META, NVDA, GOOGL |
| Q2 2024 | 39 | $7.1B | NVDA, GOOGL, MSFT, AMZN, CLS |
| Q1 2024 | 33 | $6.7B | NVDA, AMZN, META, MSFT, NU |