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Alkeon Capital Management

Alkeon Capital Management Portfolio holdings

AUM $74.1B
1-Year Est. Return 71.18%
This Fund
S&P 500
This Quarter Est. Return
+5.82%
1 Year Est. Return
+71.18%
3 Year Est. Return
+221.96%
5 Year Est. Return
+240.8%
10 Year Est. Return
+1,849.79%
AUM
$63.1B
AUM Growth
-$4.83B
Cap. Flow
-$6.6B
Cap. Flow %
-10.45%
Top 10 Hldgs %
62.16%
Holding
128
New
22
Increased
19
Reduced
35
Closed
16

Top Buys

Rank Stock Value
1
QQQ icon
Invesco QQQ Trust
QQQ
+$351M
2
DASH icon
DoorDash
DASH
+$276M
3
VRT icon
Vertiv
VRT
+$223M
4
RTX icon
RTX Corp
RTX
+$217M
5
SNPS icon
Synopsys
SNPS
+$149M

Top Sells

Rank Stock Value
1
ORCL icon
Oracle
ORCL
+$535M
2
ADI icon
Analog Devices
ADI
+$200M
3
ARGX icon
argenx
ARGX
+$129M
4
RYTM icon
Rhythm Pharmaceuticals
RYTM
+$103M
5
TJX icon
TJX Companies
TJX
+$96.1M

Sector Composition

Rank Sector Weight
1 Technology 12.99%
2 Consumer Discretionary 5.86%
3 Communication Services 4.96%
4 Industrials 3.04%
5 Financials 2.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$822B
$15.1B 23.98%
22,200,000
-1,700,000
-7% -$1.15B
QQQ icon
2
PUT
Invesco QQQ Trust
QQQ
$486B
$13.6B 21.53%
22,126,700
-3,507,100
-14% -$2.15B
GOOGL icon
3
Alphabet (Google) Class A
GOOGL
$4.18T
$1.82B 2.88%
5,802,558
– –
TSM icon
4
TSMC
TSM
$2.17T
$1.65B 2.62%
5,438,668
+175,000
+3% +$51.3M
NVDA icon
5
CALL
NVIDIA
NVDA
$5.08T
$1.4B 2.22%
7,500,000
+2,500,000
+50% +$465M
AMZN icon
6
Amazon
AMZN
$2.81T
$1.34B 2.12%
5,799,899
-225,000
-4% -$51.5M
META icon
7
Meta Platforms (Facebook)
META
$1.47T
$1.32B 2.08%
1,992,629
-67,000
-3% -$44.7M
LRCX icon
8
Lam Research
LRCX
$392B
$1.1B 1.74%
6,420,456
– –
MSFT icon
9
Microsoft
MSFT
$3.69T
$956M 1.51%
1,976,176
– –
BKNG icon
10
CALL
Booking.com
BKNG
$157B
$937M 1.48%
4,375,000
+1,125,000
+35% +$232M
QQQ icon
11
Invesco QQQ Trust
QQQ
$486B
$874M 1.38%
1,421,977
+572,200
+67% +$351M
KLAC icon
12
KLA
KLAC
$240B
$863M 1.37%
7,103,650
– –
MSFT icon
13
CALL
Microsoft
MSFT
$3.69T
$725M 1.15%
1,500,000
-1,450,000
-49% -$727M
EXPE icon
14
Expedia Group
EXPE
$40B
$701M 1.11%
2,475,276
– –
LRCX icon
15
PUT
Lam Research
LRCX
$392B
$685M 1.08%
+4,000,000
New +$622M
AAPL icon
16
CALL
Apple
AAPL
$4.57T
$659M 1.04%
2,425,400
-1,174,600
-33% -$315M
TSM icon
17
CALL
TSMC
TSM
$2.17T
$608M 0.96%
2,000,000
-4,000,000
-67% -$1.17B
MAR icon
18
CALL
Marriott International
MAR
$93.5B
$578M 0.92%
1,862,600
+254,600
+16% +$72.7M
ADI icon
19
Analog Devices
ADI
$180B
$548M 0.87%
2,018,833
-795,000
-28% -$200M
AMD icon
20
PUT
Advanced Micro Devices
AMD
$785B
$535M 0.85%
+2,500,000
New +$561M
V icon
21
Visa
V
$717B
$515M 0.82%
1,468,618
– –
CDNS icon
22
Cadence Design Systems
CDNS
$92.2B
$507M 0.8%
1,622,874
– –
APH icon
23
Amphenol
APH
$199B
$506M 0.8%
3,744,603
-360,000
-9% -$48.2M
KLAC icon
24
PUT
KLA
KLAC
$240B
$486M 0.77%
+4,000,000
New +$469M
AMZN icon
25
CALL
Amazon
AMZN
$2.81T
$485M 0.77%
2,100,000
-1,900,000
-48% -$435M
1
2 3 4 5

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Alkeon Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Alkeon Capital Management held 128 positions worth $63.1B, down 7.1% from $68B the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Alkeon Capital Management withdrew a net $6.6B in Q4 2025, closing 16 positions and reducing 35 holdings. Its most notable exit was argenx, an estimated $129M position sold in full.

By sector, the portfolio is most concentrated in Technology at 13% of assets, up from 13% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Alkeon Capital Management opened a new position in DoorDash worth $267M.

  • Alkeon Capital Management's largest Q4 2025 buy was DoorDash: 1,178,410 shares worth $267M.
  • Alkeon Capital Management added most to Invesco QQQ Trust in Q4 2025, an estimated $351M increase.
  • Alkeon Capital Management's biggest Q4 2025 reduction was Oracle, cutting an estimated $535M.
  • Alkeon Capital Management fully exited argenx in Q4 2025, selling an estimated $129M.
  • Alkeon Capital Management's ten largest holdings make up 62% of its $63.1B portfolio in Q4 2025.
  • Alkeon Capital Management opened 22 new positions and closed 16 in Q4 2025.
  • Alkeon Capital Management's portfolio value fell 7.1% quarter-over-quarter to $63.1B.

Based on Alkeon Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.