Spyglass Capital Management LLC
Long book
$1.41B
Q1 2026
Positions
25
Top-10 weight
52%
concentration
Last quarter
+27.3%
SPY +14.8%
Turnover
15%
of book per quarter
Strategy in plain words
auto-generated from filingsSpyglass Capital Management LLC is a concentrated fundamental stock-picker, running a $1.41B US long book across 25 positions.
The portfolio is concentrated: the top 10 names carry 52% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: SAMSARA INC-CL A, The Bank of New York Mellon Corporation, HUBSPOT INC, SHIFT4 PAYMENTS INC-CLASS A, AFFIRM HOLDINGS INC.
Over the last 9 quarters its long book ran on average 2pp per quarter ahead of the S&P 500, beating the index in 5 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
-2.1%
Q2 2024
+10.7%
Q3 2024
+24.8%
Q4 2024
-12.6%
Q1 2025
+20.2%
Q2 2025
+17.8%
Q3 2025
-3.1%
Q4 2025
-25.0%
Q1 2026
+27.3%
Sector allocation
Technology 51%
Services media 21%
Financials 11%
Industrials 8%
Healthcare 5%
Consumer discretionary 4%
Long book by quarter
What does Spyglass Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| IOT SAMSARA INC-CL A | Technology | 2.9M | $93.4M | 6.6% | +25.5% |
| HUBS HUBSPOT INC | Technology | 313.9K | $76.6M | 5.4% | +18.5% |
| FOUR SHIFT4 PAYMENTS INC-CLASS A | Services media | 1.8M | $76.6M | 5.4% | +3.1% |
| AFRM AFFIRM HOLDINGS INC | Financials | 1.7M | $76.2M | 5.4% | +15.2% |
| AAON AAON INC | Industrials | 858.8K | $71.1M | 5.0% | -28.4% |
| APP APPLOVIN CORP-CLASS A | Technology | 166.6K | $66.3M | 4.7% | +38.1% |
| CDNS CADENCE DESIGN SYS INC | Technology | 233.3K | $64.8M | 4.6% | -14.1% |
| MDB MONGODB INC | Technology | 253.2K | $62.0M | 4.4% | -4.6% |
| FICO FAIR ISAAC CORP | Services media | 56.4K | $60.2M | 4.3% | +13.7% |
| GLBE GLOBAL-E ONLINE LTD | Technology | 1.9M | $59.8M | 4.2% | -27.8% |
| PCOR PROCORE TECHNOLOGIES INC | Technology | 1.0M | $57.3M | 4.1% | -7.0% |
| CRDO CREDO TECHNOLOGY GROUP HOLDI | Technology | 592.0K | $55.6M | 3.9% | +52.2% |
| SNOW SNOWFLAKE INC | Technology | 352.3K | $53.1M | 3.8% | +7.1% |
| CVNA CARVANA CO | Consumer discretionary | 167.4K | $52.6M | 3.7% | -7.3% |
| APG API GROUP CORP | Services media | 1.3M | $51.5M | 3.6% | -44.5% |
| KNSL KINSALE CAPITAL GROUP INC | Financials | 137.0K | $46.8M | 3.3% | -30.5% |
| NCNO NCINO INC | Technology | 3.1M | $46.2M | 3.3% | +6.0% |
| CSGP COSTAR GROUP INC | Services media | 1.1M | $44.8M | 3.2% | -29.6% |
| DASH DOORDASH INC - A | Services media | 298.2K | $44.8M | 3.2% | +10.2% |
| RBLX ROBLOX CORP -CLASS A | Technology | 780.0K | $44.1M | 3.1% | New |
| ILMN ILLUMINA INC | Healthcare | 325.0K | $40.1M | 2.8% | -19.0% |
| LOAR LOAR HOLDINGS INC | Industrials | 584.1K | $33.5M | 2.4% | -35.4% |
| MEDP MEDPACE HOLDINGS INC | Healthcare | 55.8K | $26.8M | 1.9% | -19.4% |
| CHYM CHIME FINANCIAL INC-CL A | Financials | 1.3M | $24.3M | 1.7% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR/ARESTATEMENT | May 18, 2026 | 25 | $1.41B | canonical | SEC ↗ |
| Q1 2026 | 13F-HR | May 15, 2026 | 24 | $1.33B | SEC ↗ | |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 25 | $2.00B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 25 | $1.88B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 25 | $1.70B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 25 | $1.46B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 25 | $1.78B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 25 | $1.52B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 25 | $1.37B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 25 | $1.50B | canonical | SEC ↗ |
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