Spyglass Capital Management LLC

Long Only Manager • Growth

Spyglass Capital Management LLC is a Long Only Manager specializing in Growth based in San Francisco, CA led by James Andrew Robillard, managing $1.9B across 25 long positions as of Q3 2025 with 52% Technology concentration, 53% concentrated in top 10 holdings, and 52% technology allocation.

PresidentJames Andrew Robillard

Portfolio Value: $1.9B
Positions: 25
Top Holding: APP at 6.74%
Last Reported: Q3 2025

AddressOne Letterman Drive, Building A, Suite A4-800, San Francisco, CA, 94129-1492, United States

Top Holdings

Largest long holdings in Spyglass Capital Management LLC's portfolio (53.4% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Applovin Corporation APP	Software - Application Technology	$126.4M	6.74%	-$57.0M Sold	0.05% 175.9K shares	Q3 2021 Held for 4y 2m
2 Exact Sciences EXAS	Medical - Diagnostics & Research Healthcare	$116.3M	6.20%	+$42.0M Bought	1.12% 2.1M shares	Q4 2018 Held for 6y 11m
3 MongoDB MDB	Software - Infrastructure Technology	$105.4M	5.62%	-$1.7M Sold	0.42% 339.7K shares	Q2 2024 Held for 1y 5m
4 HubSpot HUBS	Software - Application Technology	$105.4M	5.62%	+$62.4M Bought	0.43% 225.2K shares	Q4 2023 Held for 1y 11m
5 Aaon AAON	Construction Industrials	$99.9M	5.33%	+$33.3M Bought	1.31% 1.1M shares	Q1 2025 Held for 8 months
6 Global-E Online GLBE	Specialty Retail Consumer Cyclical	$96.7M	5.16%	+$37.4M Bought	1.59% 2.7M shares	Q1 2023 Held for 2y 8m
7 Shift4 Payments FOUR	Software - Infrastructure Technology	$96.1M	5.13%	+$16.6M Bought	1.81% 1.2M shares	Q3 2023 Held for 2y 2m
8 Duolingo DUOL	Software - Application Technology	$86.5M	4.61%	+$60.1M Bought	0.59% 268.7K shares	Q3 2024 Held for 1y 2m
9 CoStar Group CSGP	Real Estate - Services Real Estate	$84.6M	4.51%	+$16.8M Bought	0.24% 1.0M shares	Q4 2023 Held for 1y 11m
10 Snowflake SNOW	Software - Application Technology	$84.5M	4.50%	-$28.4M Sold	0.11% 374.5K shares	Q4 2023 Held for 1y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Spyglass Capital Management LLC's latest filing

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Market Value

$1.9B

Prior: $1.7B

Q/Q Change

+10.59%

+$179.5M

Net Flows % of MV

-5.79%

Turnover Ratio

29.45%

New Purchases

2 stocks

$149.9M

Added To

10 stocks

+$288.6M

Sold Out Of

4 stocks

$263.9M

Reduced Holdings

11 stocks

-$283.2M

Increased Positions

Position	Shares Δ	Change
1 Samsara IOT	New	0 → 2.2M +$82.0M
2 Loar Holdings LOAR	New	0 → 849.1K +$67.9M
3 Duolingo DUOL	+227.92%	81.9K → 268.7K +$60.1M
4 HubSpot HUBS	+145.4%	91.8K → 225.2K +$62.4M
5 Global-E Online GLBE	+63.02%	1.7M → 2.7M +$37.4M

Decreased Positions

Position	Shares Δ	Change
1 Robinhood Markets, Inc. HOOD	Sold	916.6K → 0 −$85.8M
2 Astera Labs, Inc. ALAB	Sold	734.6K → 0 −$66.4M
3 Veeva Systems VEEV	Sold	205.1K → 0 −$59.1M
4 CyberArk Software CYBR	Sold	129.2K → 0 −$52.6M
5 Affirm Holdings, Inc. AFRM	-42.32%	1.7M → 1.0M −$53.8M