Data as of Q4 2025 (Dec 31, 2025)

Dragoneer Investment Group, LLC

Marc Stad•CIK: 1602189•Filing: Q4 2025

Dragoneer Investment Group, LLC, managed by Marc Stad, holds $4.6 billion in assets with a concentrated portfolio of 27 positions, prominently featuring top holdings in CPNG, NVDA, and IVZ. Recently, the fund has made notable moves by adding CVNA and MLB1, while significantly cutting positions in GEMI and OSCR, reflecting a strategy focused on tech and healthcare sectors.

Total AUM
$4.6B
QoQ Performance
+1.3%
Positions
27
Top 10 Concentration
76.3%
Latest Filing
Q4 2025

Top Holdings Allocation

CPNG
NVDA
GLBE
CVNA
DAY
XYZ
MLB1
KLAR
CPNG11.1%
NVDA10.8%
GLBE9.7%
CVNA9.0%
DAY7.2%
XYZ7.1%
MLB17.0%
KLARNA5.2%

📈 Biggest Buys

CPNG
COUPANG INC
+47.1%
11.1% of portfolio
EXE
EXPAND ENERGY CORPORATION
NEW
3.2% of portfolio
CVNA
CARVANA CO
+44.3%
9.0% of portfolio
MLB1
MERCADOLIBRE INC
+55.0%
7.0% of portfolio
NVDA
NVIDIA CORPORATION
+27.4%
10.8% of portfolio

📉 Biggest Sells

XYZ
BLOCK INC
-24.0%
7.1% of portfolio
DUOL
DUOLINGO INC
-26.6%
4.4% of portfolio
GLBE
GLOBAL E ONLINE LTD
-4.4%
9.7% of portfolio
OSCR
OSCAR HEALTH INC
-51.2%
0.2% of portfolio
GEMI
GEMINI SPACE STA INC
-50.0%
0.2% of portfolio

Sector Breakdown

Other89.2%
Technology10.8%

🚪 Exited Positionssold since Q3 2025

FLNC
FLUENCE ENERGY INC
SOLD
$65.9M
STUB
STUBHUB HLDGS INC
SOLD
$7.2M
PTRN
PATTERN GROUP INC
SOLD
$6.7M
—
ACCELERANT HOLDINGS
SOLD
$5.0M

Changes from Q3 2025

NEW5 new positions
↑4 increased
↓5 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

CPNG11.1%
COUPANG INC
$509.0M
NVDA10.8%
NVIDIA CORPORATION
$493.9M
GLBE9.7%
GLOBAL E ONLINE LTD
$446.8M
CVNA9.0%
CARVANA CO
$413.4M
DAY7.2%
DAYFORCE INC
$328.5M

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