Spyglass Capital Management LLC

Q4 2025 13F-HR Holdings

Location
San Francisco, CA
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
25
Total value ($000)
$1,998,489
Net value change ($000)
+123,426 (6.6%)
New positions
2
Sold out positions
2
Turnover %
9.8%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
CVNA 76,246 NEW
CRDO 55,953 NEW
CDNS 44,128 108.3%
FICO 42,339 102.2%
AFRM 34,087 46.5%
CSGP 21,536 25.5%
DASH 17,298 39.3%
NCNO 16,347 28.1%
KNSL 16,147 26.5%
ILMN 12,573 31.4%
Top Reduces (Value $000, Stocks/ETFs)
EXAS -61,452 -52.8%
APP -45,115 -35.7%
MEDP -38,725 -49.9%
DUOL -36,141 -41.8%
SG -32,371 -100.0%
ACVA -30,850 -100.0%
SNOW -12,341 -14.6%
AAON -8,456 -8.5%
LOAR -6,445 -9.5%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type