OGBORNE CAPITAL MANAGEMENT, LLC

Hedge Fund • Long/Short

OGBORNE CAPITAL MANAGEMENT, LLC is a Long/Short Hedge Fund based in San Francisco, CA led by Michael Patrick Ogborne, reporting $423.2M in AUM as of Q3 2025 with 55% Communication Services concentration, with only 10 positions, and 27% allocation to NFLX.

Managing PartnerMichael Patrick Ogborne

Portfolio Value: $367.0M
Positions: 10
Top Holding: NFLX at 26.95%
Last Reported: Q3 2025

Address220 Halleck St., Suite 110, San Francisco, CA, 94129, United States

Top Holdings

Largest long holdings in OGBORNE CAPITAL MANAGEMENT, LLC's portfolio (100% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Netflix NFLX	Entertainment Communication Services	$98.9M	26.95%	+$9.0M Bought	0.02% 82.5K shares	Q2 2023 Held for 2y 5m
2 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$91.8M	25.01%	-$18.4M Sold	0.00% 125.0K shares	Q1 2023 Held for 2y 8m
3 Nvidia NVDA	Semiconductors Technology	$56.0M	15.25%	-$42.0M Sold	0.00% 300.0K shares	Q2 2023 Held for 2y 5m
4 Applovin Corporation APP	Software - Application Technology	$35.9M	9.79%	+$18.0M Bought	0.01% 50.0K shares	Q1 2025 Held for 8 months
5 Affirm Holdings, Inc. AFRM	Software - Infrastructure Technology	$29.2M	7.96%	-$11.0M Sold	0.12% 400.0K shares	Q3 2024 Held for 1y 2m
6 SharkNinja SN	Furnishings, Fixtures & Appliances Consumer Cyclical	$15.5M	4.22%	+$15.5M Bought	0.11% 150.0K shares	Q1 2025 Held for 8 months
7 Oracle ORCL	Software - Infrastructure Technology	$15.5M	4.21%	-$7.0M Sold	0.00% 55.0K shares	Q2 2025 Held for 5 months
8 On Holding ONON	Apparel - Retail Consumer Cyclical	$14.0M	3.81%	+$4.3M Bought	0.10% 330.0K shares	Q2 2022 Held for 3y 5m
9 DoorDash DASH	Internet Content & Information Communication Services	$9.5M	2.59%	—	0.01% 35.0K shares	Q2 2025 Held for 5 months
10 Shopify SHOP	Software - Application Technology	$743.1K	0.20%	+$743.1K Bought	0.00% 5.0K shares	Q4 2024 Held for 11 months

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GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in OGBORNE CAPITAL MANAGEMENT, LLC's latest filing

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GthenC

Market Value

$367.0M

Prior: $403.1M

Q/Q Change

-8.95%

-$36.1M

Net Flows % of MV

-19.43%

Turnover Ratio

20.45%

New Purchases

0 stocks

Added To

3 stocks

+$31.3M

Sold Out Of

2 stocks

$24.3M

Reduced Holdings

4 stocks

-$78.3M

Increased Positions

Position	Shares Δ	Change
1 Applovin Corporation APP	+100.0%	25.0K → 50.0K +$18.0M
2 On Holding ONON	+44.92%	227.7K → 330.0K +$4.3M
3 Netflix NFLX	+10.0%	75.0K → 82.5K +$9.0M

Decreased Positions

Position	Shares Δ	Change
1 Uber Technologies UBER	Sold	150.0K → 0 −$14.0M
2 Zillow Group, Inc. ZG	Sold	150.0K → 0 −$10.3M
3 Nvidia NVDA	-42.86%	525.0K → 300.0K −$42.0M
4 Oracle ORCL	-31.25%	80.0K → 55.0K −$7.0M
5 Affirm Holdings, Inc. AFRM	-27.27%	550.0K → 400.0K −$11.0M