LIGHTSPEED MANAGEMENT COMPANY, L.L.C.
Long book
$988.0M
Q1 2026
Positions
8
Top-10 weight
100%
concentration
Last quarter
+67.8%
SPY +14.8%
Turnover
13%
of book per quarter
Strategy in plain words
auto-generated from filingsLIGHTSPEED MANAGEMENT COMPANY, L.L.C. is a diversified fundamental manager, specialised in technology (93% of the long book), running a $988.0M US long book across 8 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: NAVAN INC-CL A, SERVICENOW INC, PERSONALIS INC, KODIAK AI INC, BLEND LABS INC-A.
Over the last 6 quarters its long book ran on average 6.6pp per quarter ahead of the S&P 500, beating the index in 3 of 6 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q4 2024
-12.5%
Q1 2025
+20.0%
Q2 2025
+17.4%
Q3 2025
+1.3%
Q4 2025
-26.8%
Q1 2026
+67.8%
Sector allocation
Technology 93%
Healthcare 7%
Long book by quarter
What does LIGHTSPEED own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NAVN NAVAN INC-CL A | Technology | 49.9M | $661.0M | 66.9% | Held |
| NOW SERVICENOW INC | Technology | 1.5M | $160.0M | 16.2% | -14.2% |
| PSNL PERSONALIS INC | Healthcare | 8.2M | $52.0M | 5.3% | Held |
| KDK KODIAK AI INC | Technology | 7.3M | $50.9M | 5.2% | Held |
| BLND BLEND LABS INC-A | Technology | 23.1M | $39.3M | 4.0% | Held |
| OLMA OLEMA PHARMACEUTICALS INC | Healthcare | 1.4M | $20.2M | 2.0% | -29.8% |
| FIG FIGMA INC-CL A | Technology | 183.5K | $3.9M | 0.4% | Held |
| DGNX DIGINEX LTD | Technology | 1.4M | $678K | 0.1% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 8 | $988.0M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 7 | $1.40B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 6 | $322.0M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 6 | $238.8M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 9 | $136.5M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR/ARESTATEMENT | May 15, 2025 | 10 | $283.6M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 11 | $357.6M | SEC ↗ |