Whetstone Capital Advisors, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Whetstone Capital Advisors, LLC reported 28 stock positions worth $226.3 million. Its top holding was Cloudflare Class A (NET) at 15.8% of the portfolio, followed by Dave (DAVE, 10.3%) and Alphabet Class C (GOOG, 9.0%). Compared with Q4 2024, it opened 10 new positions, sold out of 10, added to 8 and reduced 5. The biggest buy was a new position in Health Catalyst (HCAT) and the biggest sale an exit from Innovid (CTV).
- Most Recent 13F
- Q2 2026
- Location
- SHAWNEE MISSION, KS
- CIK
- 0001607278
- Portfolio Value
- $226.3M (Q1 2025)
- SEC Filing
- 0001607278-25-000005 ↗ filed May 14, 2025
Holdings Value
Holdings 28 stocks · $226.3M
| NET Cloudflare Inc. Class A | 15.78% | 316,960 | $35.7M | Reduce -0.3% |
| DAVE Dave Inc. | 10.34% | 283,017 | $23.4M | Reduce -0.1% |
| GOOG Alphabet Inc. Class C | 9.00% | 130,373 | $20.4M | No change |
| MNDY Monday.com Ltd. | 8.52% | 79,270 | $19.3M | Add +0.6% |
| AMZN Amazon.com Inc. | 7.84% | 93,240 | $17.7M | No change |
| OPRX Optimizerx Corp. | 5.77% | 1,508,303 | $13.1M | Add +11.7% |
| TOST Toast Inc. Class A | 4.91% | 334,963 | $11.1M | No change |
| OKTA Okta Inc. | 4.17% | 89,646 | $9.4M | Reduce 0.0% |
| THRY Thryv Holdings Inc. | 3.69% | 652,733 | $8.4M | Add +0.3% |
| HCAT Health Catalyst Inc. | 3.41% | 1,705,072 | $7.7M | New |
| PRO Pros Holdings Inc. | 3.33% | 396,160 | $7.5M | No change |
| RELY Remitly Global Inc. | 2.86% | 311,372 | $6.5M | Add +54.3% |
| ASAN Asana Inc. Class A | 2.46% | 381,716 | $5.6M | No change |
| GTLB Gitlab Inc. Class A | 2.45% | 117,745 | $5.5M | Add +5.3% |
| FIVN FIVE9 Inc. | 2.43% | 202,178 | $5.5M | New |
| DKNG Draftkings Inc. Class A | 2.33% | 158,864 | $5.3M | Add +26.0% |
| ZETA Zeta Global Holdings Corp. Class A | 2.22% | 370,961 | $5.0M | New |
| VYX NCR Voyix Corp. | 2.18% | 506,952 | $4.9M | New |
| BLZE Backblaze Inc. Class A | 1.49% | 697,083 | $3.4M | Reduce -42.9% |
| UIS Unisys Corp. | 1.25% | 617,959 | $2.8M | New |
| BODI The Beachbody Co. Inc. filed as THE BEACHBODY COMPANY INC | 1.11% | 335,562 | $2.5M | Add +78.4% |
| DH Definitive Healthcare Corp. | 1.11% | 869,275 | $2.5M | New |
| DSP Viant Technology Inc. Class A | 0.65% | 118,631 | $1.5M | New |
| LAW CS Disco Inc. | 0.34% | 185,970 | $761K | New |
| GOOGL Alphabet Inc. Class A | 0.12% | 1,761 | $272K | Add +1.4% |
| FORGE GLOBAL HOLDINGS INC | 0.09% | 371,008 | $209K | New |
| OUT Outfront Media Inc. | 0.08% | 10,816 | $175K | New |
| KREF KKR Real Estate Finance Trus | 0.08% | 15,957 | $172K | Reduce -2.9% |
Portfolio Sells Q4 2024 → Q1 2025
| CTV Innovid Corp. | Sold out | 0.00% | −4.47 |
| PAYC Paycom Software Inc. | Sold out | 0.00% | −3.86 |
| FVRR Fiverr International Ltd. | Sold out | 0.00% | −2.99 |
| CFLT Confluent Inc. Class A | Sold out | 0.00% | −2.98 |
| TEAM Atlassian Corp. Class A | Sold out | 0.00% | −2.93 |
| PCOR Procore Technologies Inc. | Sold out | 0.00% | −2.21 |
| ACCD Accolade Inc. | Sold out | 0.00% | −2.06 |
| DT Dynatrace Inc. | Sold out | 0.00% | −1.41 |
| BLZE Backblaze Inc. Class A | Reduce -42.9% | 1.49% | −1.31 |
| DOUG Douglas Elliman Inc. | Sold out | 0.00% | −0.96 |
| OPCH Option Care Health Inc. | Sold out | 0.00% | −0.31 |
| KREF KKR Real Estate Finance Trus | Reduce -2.9% | 0.08% | +0.01 |
| DAVE Dave Inc. | Reduce -0.1% | 10.34% | +0.96 |
| OKTA Okta Inc. | Reduce 0.0% | 4.17% | +1.48 |
| NET Cloudflare Inc. Class A | Reduce -0.3% | 15.78% | +2.74 |
Portfolio Buys Q4 2024 → Q1 2025
| HCAT Health Catalyst Inc. | New | 3.41% | +3.41 |
| OPRX Optimizerx Corp. | Add +11.7% | 5.77% | +3.27 |
| FIVN FIVE9 Inc. | New | 2.43% | +2.43 |
| ZETA Zeta Global Holdings Corp. Class A | New | 2.22% | +2.22 |
| VYX NCR Voyix Corp. | New | 2.18% | +2.18 |
| MNDY Monday.com Ltd. | Add +0.6% | 8.52% | +1.45 |
| UIS Unisys Corp. | New | 1.25% | +1.25 |
| RELY Remitly Global Inc. | Add +54.3% | 2.86% | +1.13 |
| DH Definitive Healthcare Corp. | New | 1.11% | +1.11 |
| BODI The Beachbody Co. Inc. | Add +78.4% | 1.11% | +0.67 |
| DSP Viant Technology Inc. Class A | New | 0.65% | +0.65 |
| DKNG Draftkings Inc. Class A | Add +26.0% | 2.33% | +0.55 |
| LAW CS Disco Inc. | New | 0.34% | +0.34 |
| FORGE GLOBAL HOLDINGS INC | New | 0.09% | +0.09 |
| OUT Outfront Media Inc. | New | 0.08% | +0.08 |
| GTLB Gitlab Inc. Class A | Add +5.3% | 2.45% | +0.05 |
| THRY Thryv Holdings Inc. | Add +0.3% | 3.69% | +0.03 |
| GOOGL Alphabet Inc. Class A | Add +1.4% | 0.12% | −0.01 |
Options Activity Q4 2024 → Q1 2025
| ISHARES TR | put | Sold out | 430,000 | $43.1Mbefore exit |
| REMITLY GLOBAL INC | put | Sold out | 200,000 | $4.5Mbefore exit |
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 | 67 | $377.4M | DAVE, NET, GOOG, AMZN, FRMI |
| Q1 2026 | 54 | $265.8M | NET, DAVE, GOOG, AMZN, OPRX |
| Q4 2025 | 54 | $320.5M | DAVE, NET, GOOG, AMZN, OPRX |
| Q3 2025 | 56 | $361.1M | NET, DAVE, GOOG, OPRX, AMZN |
| Q2 2025 | 32 | $354.0M | DAVE, NET, MNDY, GOOG, AMZN |
| Q1 2025 | 28 | $226.3M | NET, DAVE, GOOG, MNDY, AMZN |
| Q4 2024 | 28 | $262.7M | NET, GOOG, DAVE, AMZN, MNDY |
| Q3 2024 | 37 | $207.5M | NET, MNDY, GOOG, AMZN, BLZE |
| Q2 2024 | 38 | $215.5M | NET, GOOG, MNDY, AMZN, PRO |
| Q1 2024 | 31 | $228.4M | NET, GOOG, MNDY, AMZN, BLZE |