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Hedge fund

Cadian Capital Management, LP

13F for the quarter to June 30, 2026, filed August 14, 2026 · SEC CIK 1423686

Reported value
$1.3bn
100% in companies we cover
Positions we cover
28
Largest IQV 11.9%
Copy, a year
+17.2%
S&P 500 +14.1%
Copy Sharpe ratio
0.68
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k$80.0k 2013201520172019202120232025 $81.4k$57.0k
CopyS&P 500 $10,000 copying Cadian Capital Management, LP's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −40.5% (S&P 500 −31.8%); beta 1.20; alpha +2.1% a year (t = 0.47); last 12 months +18.5% against +12.1%.

Reported value by quarter

Cadian Capital Management, LP: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $500B $1T $1.5T Reported value, 2013-06-30: $3B Reported value, 2013-09-30: $3.4B Reported value, 2013-12-31: $3.7B Reported value, 2014-03-31: $3.7B Reported value, 2014-06-30: $3.1B Reported value, 2014-09-30: $3.6B Reported value, 2014-12-31: $3.8B Reported value, 2015-03-31: $3.5B Reported value, 2015-06-30: $3.2B Reported value, 2015-09-30: $2.5B Reported value, 2015-12-31: $2.7B Reported value, 2016-03-31: $1.5B Reported value, 2016-06-30: $1.8B Reported value, 2016-09-30: $1.9B Reported value, 2016-12-31: $1.9B Reported value, 2017-03-31: $2.1B Reported value, 2017-06-30: $2.1B Reported value, 2017-09-30: $2.1B Reported value, 2017-12-31: $1.6B Reported value, 2018-03-31: $1.9B Reported value, 2018-06-30: $2.1B Reported value, 2018-09-30: $2.2B Reported value, 2018-12-31: $2.1B Reported value, 2019-03-31: $2.6B Reported value, 2019-06-30: $2.2B Reported value, 2019-09-30: $2.1B Reported value, 2019-12-31: $2.3B Reported value, 2020-03-31: $2B Reported value, 2020-06-30: $2.4B Reported value, 2020-09-30: $3.1B Reported value, 2020-12-31: $3.9B Reported value, 2021-03-31: $2.7B Reported value, 2021-06-30: $2.3B Reported value, 2021-09-30: $2.6B Reported value, 2021-12-31: $1.8B Reported value, 2022-03-31: $2B Reported value, 2022-06-30: $1.5B Reported value, 2022-09-30: $1.7B Reported value, 2022-12-31: $1.4T Reported value, 2023-03-31: $1.6B Reported value, 2023-06-30: $2.1B Reported value, 2023-09-30: $2.5B Reported value, 2023-12-31: $2.5B Reported value, 2024-03-31: $2.8B Reported value, 2024-06-30: $2B Reported value, 2024-09-30: $2B Reported value, 2024-12-31: $1.7B Reported value, 2025-03-31: $2.3B Reported value, 2025-06-30: $1.8B Reported value, 2025-09-30: $1.7B Reported value, 2025-12-31: $1.4B Reported value, 2026-03-31: $821.2M Reported value, 2026-06-30: $1.3B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $1.3B
View chart data
Period Reported value
2013-06-30 $3B
2013-09-30 $3.4B
2013-12-31 $3.7B
2014-03-31 $3.7B
2014-06-30 $3.1B
2014-09-30 $3.6B
2014-12-31 $3.8B
2015-03-31 $3.5B
2015-06-30 $3.2B
2015-09-30 $2.5B
2015-12-31 $2.7B
2016-03-31 $1.5B
2016-06-30 $1.8B
2016-09-30 $1.9B
2016-12-31 $1.9B
2017-03-31 $2.1B
2017-06-30 $2.1B
2017-09-30 $2.1B
2017-12-31 $1.6B
2018-03-31 $1.9B
2018-06-30 $2.1B
2018-09-30 $2.2B
2018-12-31 $2.1B
2019-03-31 $2.6B
2019-06-30 $2.2B
2019-09-30 $2.1B
2019-12-31 $2.3B
2020-03-31 $2B
2020-06-30 $2.4B
2020-09-30 $3.1B
2020-12-31 $3.9B
2021-03-31 $2.7B
2021-06-30 $2.3B
2021-09-30 $2.6B
2021-12-31 $1.8B
2022-03-31 $2B
2022-06-30 $1.5B
2022-09-30 $1.7B
2022-12-31 $1.4T
2023-03-31 $1.6B
2023-06-30 $2.1B
2023-09-30 $2.5B
2023-12-31 $2.5B
2024-03-31 $2.8B
2024-06-30 $2B
2024-09-30 $2B
2024-12-31 $1.7B
2025-03-31 $2.3B
2025-06-30 $1.8B
2025-09-30 $1.7B
2025-12-31 $1.4B
2026-03-31 $821.2M
2026-06-30 $1.3B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
IQVIQVIA11.93%$157.6m815.8K+0.3%
GHGuardant Health, Inc.8.60%$113.6m757.4K−2.9% Reduced
FLYWFlywire Corp7.64%$100.9m5.74M−13.2% Reduced
PLNTPlanet Fitness, Inc.6.32%$83.5m1.60M+350.8% Added
SPOTSpotify Technology S.a.6.05%$79.9m174.0KNew
MNDYMonday.com Ltd.5.17%$68.3m944.0K+74.9% Added
VRNSVaronis Systems Inc5.04%$66.5m1.59MNew
DHRDanaher Corporation4.70%$62.1m326.1KNew
EVHEvolent Health, Inc.4.44%$58.6m10.81M0.0%
HQYHealthequity, Inc.4.28%$56.6m626.7K−24.7% Reduced
INTAIntapp, Inc.4.16%$55.0m2.18M+74.6% Added
SIBNSi-bone, Inc.4.13%$54.6m3.35M+77.4% Added
BSXBoston Scientific3.57%$47.2m1.11M+550.1% Added
TCMDTactile Systems Technology Inc3.55%$47.0m1.58M+51.5% Added
CYRXCryoport, Inc.3.47%$45.9m2.92M−38.9% Reduced
AMZNAmazon3.24%$42.8m179.7KNew
PCORProcore Technologies, Inc.2.60%$34.3m845.0K+156.1% Added
NTNXNutanix, Inc.2.31%$30.6m599.5K−29.5% Reduced
ALKTAlkami Technology, Inc.2.02%$26.8m1.48M+10.6% Added
VRSNVerisign Inc1.50%$19.9m79.0K+75.6% Added
TSMTaiwan Semiconductor Manufacturing Co LTD1.30%$17.1m35.9K−24.7% Reduced
EQIXEquinix1.07%$14.2m13.6KNew
OABIOmniab, Inc.0.78%$10.4m4.21M+1.3% Added
METAMeta Platforms0.62%$8.2m14.5KNew
WKWorkiva Inc0.53%$7.0m144.2KNew
SHCSotera Health Co0.47%$6.2m350.0KNew
MDLNMedline Inc.0.30%$3.9m100.0KNew
MXCTMaxcyte, Inc.0.20%$2.7m2.20M+27.8% Added
CompanyBought (value)Shares
SPOTSpotify Technology S.a.$79.9m174.0K
VRNSVaronis Systems Inc$66.5m1.59M
PLNTPlanet Fitness, Inc.$65.0m1.25M
DHRDanaher Corporation$62.1m326.1K
AMZNAmazon$42.8m179.7K
BSXBoston Scientific$39.9m935.1K
MNDYMonday.com Ltd.$29.3m404.4K
SIBNSi-bone, Inc.$23.8m1.46M
INTAIntapp, Inc.$23.5m931.9K
PCORProcore Technologies, Inc.$20.9m515.0K
TCMDTactile Systems Technology Inc$16.0m535.9K
EQIXEquinix$14.2m13.6K
VRSNVerisign Inc$8.6m34.0K
METAMeta Platforms$8.2m14.5K
WKWorkiva Inc$7.0m144.2K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
DKNGDraftkings Inc.−$79.2m−3.66M
PANWPalo Alto Networks−$44.0m−274.5K
CYRXCryoport, Inc.−$29.1m−1.86M
HQYHealthequity, Inc.−$18.6m−206.0K
FLYWFlywire Corp−$15.4m−874.0K
NTNXNutanix, Inc.−$12.8m−250.5K
GLBEGlobal-e Online Ltd.−$6.8m−221.7K
TSMTaiwan Semiconductor Manufacturing Co LTD−$5.6m−11.8K
PEGAPegasystems Inc−$5.1m−119.7K
GHGuardant Health, Inc.−$3.3m−22.3K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
DKNGDraftkings Inc.$79.2m3.66M
PANWPalo Alto Networks$44.0m274.5K
GLBEGlobal-e Online Ltd.$6.8m221.7K
PEGAPegasystems Inc$5.1m119.7K
  • Health Care50.4%
  • Technology24.6%
  • Consumer Discretionary9.6%
  • Financials7.6%
  • Communication Services6.7%
  • Real Estate1.1%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to November 2, 2026+17.2%+14.1%0.680.78−40.5%1.20
2018 onwardsJanuary 5, 2018 to November 2, 2026+19.3%+13.9%0.670.66−40.2%1.18
Last three yearsNovember 3, 2023 to November 2, 2026+21.3%+21.8%0.671.16−33.8%1.24
Last yearNovember 7, 2025 to November 2, 2026+19.8%+14.2%0.590.84−31.0%1.10

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.