Great investors · Marc Stad · Q4 2024
What Marc Stad bought and sold in Q4 2024
Dragoneer Investment Group 13F portfolio as of Dec 31, 2024: 23 positions worth $5.7 bn. Largest: GLBE, RBLX, PDD, CPNG. Filed with the SEC on Feb 14, 2025.
The 13F is filed by Dragoneer Investment Group, not by Marc Stad personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q4 2024
- NewDynatraceDT+4.2 pp
- IncreasedPDD HoldingsPDD+3.1 pp
- NewInspire Medical SystemsINSP+2.8 pp
- IncreasedBlockXYZ+2.6 pp
- IncreasedCoupangCPNG+0.6 pp
Sells in Q4 2024
- ReducedAtlassianTEAM−7.8 pp
- ReducedDayforceDAY−4.7 pp
- ReducedGlobal-E OnlineGLBE−3.1 pp
- ReducedDoorDashDASH−2.9 pp
- ReducedZoomInfo TechnologiesGTM−2.9 pp
- ReducedDuolingoDUOL−2.7 pp
- ReducedKanzhunBZ−1.7 pp
- ReducedRobloxRBLX−1.7 pp
- ReducedJamf HoldingJAMF−0.7 pp
- Sold outRubrikRBRK−0.6 pp
15 companies with material moves, out of 18 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Dragoneer Investment Group's Q4 2024 13F lists 23 lines of US-listed securities worth $5.7 bn; the largest is GLBE at 11.4% of the portfolio. It was accepted by the SEC on Feb 14, 2025 at 7:00 AM ET.
Against the previous quarter, it opened 3 positions (DT, TTAN and INSP), closed 4 (RBRK, NXDR, RDDT and SNOW), added to 3 (PDD, XYZ and CPNG) and trimmed 9 (TEAM, GLBE, DAY and DUOL and 5 more). 8 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Global-E Online GLBE | 12.0 M | $654M | 11.4% | −22% |
| 2 | Roblox RBLX | 10.1 M | $584M | 10.2% | −14% |
| 3 | PDD Holdings PDD | 5.6 M | $540M | 9.44% | +49% |
| 4 | Coupang CPNG | 20.5 M | $451M | 7.89% | +9% |
| 5 | Atlassian TEAM | 1.8 M | $442M | 7.72% | −50% |
| 6 | Block XYZ | 5.1 M | $436M | 7.62% | +52% |
| 7 | Flutter Entertainment FLUT | 1.7 M | $435M | 7.60% | no change |
| 8 | Duolingo DUOL | 1.1 M | $345M | 6.02% | −31% |
| 9 | Dayforce DAY | 3.9 M | $280M | 4.90% | −49% |
| 10 | Dynatrace DT | 4.5 M | $242M | 4.23% | new |
| 11 | ServiceTitan TTAN | 2.0 M | $211M | 3.68% | new |
| 12 | Jamf Holding JAMF | 13.5 M | $189M | 3.30% | −18% |
| 13 | DoorDash DASH | 1.1 M | $179M | 3.13% | −48% |
| 14 | Inspire Medical Systems INSP | 871,110 | $161M | 2.82% | new |
| 15 | Oscar Health OSCR | 9.5 M | $128M | 2.23% | no change |
| 16 | CCC Intelligent Solutions Holdings CCC | 9.2 M | $108M | 1.88% | no change |
| 17 | Nu Holdings NU | 9.9 M | $103M | 1.79% | no change |
| 18 | ZoomInfo Technologies GTM | 6.3 M | $66.5M | 1.16% | −71% |
| 19 | Kanzhun BZ | 4.0 M | $55.7M | 0.97% | −63% |
| 20 | Procore Technologies PCOR | 633,824 | $47.5M | 0.83% | no change |
| 21 | Datadog DDOG | 271,800 | $38.8M | 0.68% | no change |
| 22 | Ibotta IBTA | 250,000 | $16.3M | 0.28% | no change |
| 23 | ROOT ROOT | 154,320 | $11.2M | 0.20% | no change |
Positions it closed (4)
- Rubrik RBRKwas 0.60% · 1.1 M shares
- Nextdoor Holdings NXDRwas 0.09% · 2.0 M shares
- Reddit RDDTwas 0.03% · 30,000 shares
- Snowflake SNOWwas 0.00% · 500 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Dragoneer Investment Group's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.