Deer Management Co. LLC
Long book
$622.3M
Q1 2026
Positions
9
Top-10 weight
100%
concentration
Last quarter
+56.5%
SPY +14.8%
Turnover
11%
of book per quarter
Strategy in plain words
auto-generated from filingsDeer Management Co. LLC is a concentrated fundamental stock-picker, specialised in technology (73% of the long book), running a $622.3M US long book across 9 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: SERVICETITAN INC-A, STUBHUB HOLDINGS INC-CLASS A, HINGE HEALTH INC-A, CS DISCO INC, KYMERA THERAPEUTICS INC.
Over the last 9 quarters its long book ran on average 7.5pp per quarter ahead of the S&P 500, beating the index in 3 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-23.7%
Q2 2024
-2.5%
Q3 2024
+121.3%
Q4 2024
-8.2%
Q1 2025
+13.5%
Q2 2025
-3.4%
Q3 2025
-2.0%
Q4 2025
-44.0%
Q1 2026
+56.5%
Sector allocation
Technology 73%
Services media 23%
Healthcare 2%
Communications 1%
Long book by quarter
What does Deer Management own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| TTAN SERVICETITAN INC-A | Technology | 5.1M | $321.6M | 51.7% | -12.6% |
| STUB STUBHUB HOLDINGS INC-CLASS A | Services media | 22.0M | $137.5M | 22.1% | Held |
| HNGE HINGE HEALTH INC-A | Technology | 2.6M | $101.6M | 16.3% | New |
| LAW CS DISCO INC | Technology | 8.7M | $33.1M | 5.3% | Held |
| KYMR KYMERA THERAPEUTICS INC | Healthcare | 125.9K | $10.5M | 1.7% | -45.5% |
| SPIR SPIRE GLOBAL INC | Communications | 713.3K | $9.0M | 1.4% | Held |
| FVRR FIVERR INTERNATIONAL LTD | Services media | 561.4K | $5.6M | 0.9% | Held |
| GUTS FRACTYL HEALTH INC | Healthcare | 4.8M | $2.2M | 0.4% | Held |
| TCRX TSCAN THERAPEUTICS INC | Healthcare | 1.2M | $1.3M | 0.2% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 10 | $622.3M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 9 | $1.03B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 12 | $1.12B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 11 | $1.26B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 11 | $1.08B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 12 | $1.28B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 13 | $630.0M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 14 | $486.1M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 14 | $551.7M | canonical | SEC ↗ |