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MS

Marc Stad Dragoneer Investment Group

AUM $2.83B
1-Year Est. Return 12.55%
 

Marc Stad is the founder of Dragoneer Investment Group, a growth-oriented firm active in public and private technology investing. Dragoneer is known for long-term ownership of high-quality growth businesses and for participation in major technology financings. Stad’s public filings are closely watched for large-cap and growth-equity technology exposure.

This Fund
S&P 500
This Quarter Est. Return
+17.87%
1 Year Est. Return
+12.55%
3 Year Est. Return
+77.31%
5 Year Est. Return
+22.68%
10 Year Est. Return
+767.49%
AUM
$4.9B
AUM Growth
+$146M
Cap. Flow
-$550M
Cap. Flow %
-11.23%
Top 10 Hldgs %
83.93%
Holding
25
New
3
Increased
4
Reduced
7
Closed
5

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$401M
2
CHYM
Chime Financial
CHYM
+$282M
3
DDOG icon
Datadog
DDOG
+$220M
4
INSP icon
Inspire Medical Systems
INSP
+$153M
5
GLBE icon
Global E Online
GLBE
+$57.7M

Top Sells

Rank Stock Value
1
INTU icon
Intuit
INTU
+$397M
2
DUOL icon
Duolingo
DUOL
+$388M
3
TEAM icon
Atlassian
TEAM
+$236M
4
CPNG icon
Coupang
CPNG
+$125M
5
PDD icon
Pinduoduo
PDD
+$108M

Sector Composition

Rank Sector Weight
1 Technology 52.89%
2 Consumer Discretionary 37.03%
3 Healthcare 6.9%
4 Financials 3.18%
5 Communication Services 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XYZ
1
Block Inc
XYZ
$49.4B
$627M 12.8%
9,233,515
-1,690
-0% -$98.3K
CPNG icon
2
Coupang
CPNG
$29.6B
$626M 12.78%
20,893,452
-4,889,029
-19% -$125M
NVDA icon
3
NVIDIA
NVDA
$5.2T
$504M 10.28%
+3,187,000
New +$401M
FLUT icon
4
Flutter Entertainment
FLUT
$17.8B
$481M 9.82%
1,683,408
– –
PDD icon
5
Pinduoduo
PDD
$126B
$370M 7.55%
3,535,608
-1,028,464
-23% -$108M
GLBE icon
6
Global E Online
GLBE
$6.81B
$337M 6.88%
10,056,015
+1,708,655
+20% +$57.7M
INSP icon
7
Inspire Medical Systems
INSP
$1.8B
$306M 6.24%
2,354,411
+1,056,808
+81% +$153M
DDOG icon
8
Datadog
DDOG
$84.6B
$303M 6.18%
2,254,563
+1,982,763
+729% +$220M
CHYM
9
Chime Financial
CHYM
$12.4B
$295M 6.02%
+8,548,884
New +$282M
DAY
10
DELISTED
Dayforce
DAY
$263M 5.37%
4,749,842
+23,592
+0.5% +$1.35M
SAIL
11
SailPoint Inc
SAIL
$10.6B
$183M 3.73%
8,000,000
– –
DUOL icon
12
Duolingo
DUOL
$6.84B
$153M 3.12%
372,441
-883,420
-70% -$388M
NU icon
13
Nu Holdings
NU
$70.4B
$136M 2.77%
9,908,598
– –
TTAN
14
ServiceTitan Inc
TTAN
$9.05B
$129M 2.64%
1,206,157
-842,808
-41% -$94.2M
CCC
15
CCC Intelligent Solutions
CCC
$4.39B
$86.5M 1.77%
9,196,301
– –
JAMF
16
DELISTED
Jamf
JAMF
$41.2M 0.84%
4,328,286
-4,490,303
-51% -$48.2M
OSCR icon
17
Oscar Health
OSCR
$9.89B
$28.9M 0.59%
1,346,154
-5,571,294
-81% -$82.8M
ROOT icon
18
Root
ROOT
$864M
$19.7M 0.4%
154,320
– –
GTM
19
ZoomInfo Technologies
GTM
$1.16B
$6.78M 0.14%
670,000
– –
HNGE
20
Hinge Health
HNGE
$7.14B
$3.59M 0.07%
+69,283
New +$2.8M
DT icon
21
Dynatrace
DT
$14.2B
– –
-1,198,790
Closed -$56.5M
INTU icon
22
Intuit
INTU
$100B
– –
-646,123
Closed -$397M
RBLX icon
23
Roblox
RBLX
$27.4B
– –
-1,754,755
Closed -$102M
TEAM icon
24
Atlassian
TEAM
$43.5B
– –
-1,111,717
Closed -$236M
KRMN
25
Karman Holdings
KRMN
$7.08B
– –
-900,000
Closed -$30.1M

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Marc Stad's Q2 2025 Portfolio in Review

As of Q2 2025, Marc Stad held 25 positions worth $4.9B, up 3.1% from $4.75B the previous quarter. Its ten largest holdings account for 84% of the portfolio.

Marc Stad withdrew a net $550M in Q2 2025, closing 5 positions and reducing 7 holdings. Its most notable exit was Intuit, an estimated $397M position sold in full.

By sector, the portfolio is most concentrated in Technology at 53% of assets, up from 51% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Marc Stad opened a new position in NVIDIA worth $504M.

  • Marc Stad's largest Q2 2025 buy was NVIDIA: 3,187,000 shares worth $504M.
  • Marc Stad added most to Datadog in Q2 2025, an estimated $220M increase.
  • Marc Stad's biggest Q2 2025 reduction was Duolingo, cutting an estimated $388M.
  • Marc Stad fully exited Intuit in Q2 2025, selling an estimated $397M.
  • Marc Stad's ten largest holdings make up 84% of its $4.9B portfolio in Q2 2025.
  • Marc Stad opened 3 new positions and closed 5 in Q2 2025.
  • Marc Stad's portfolio value rose 3.1% quarter-over-quarter to $4.9B.

Based on Dragoneer Investment Group's 13F filing for Q2 2025, filed 14 Aug 2025.