CC
Cadian Capital Management, LP — 13F Portfolio Report & Top Holdings (Q2 2026)
Cadian Capital Management, LPCIK: 0001423686
Momentum followerSector-focusedQuality / disciplined sizing
Total reported value
$1.3B
Reporting period: 2026-06-30 · Number of holdings: 28
CADIAN CAPITAL MANAGEMENT, LP disclosed 28 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.3B and a quarterly turnover rate of 74.7%.
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Personality snowflake
- Concentration
- 22.74
- Portfolio Stability
- 74.67
- Momentum
- 100
- Sector conviction
- 99.53
- Diversification
- 56
- Sizing Uniformity
- 92.17
Cadian Capital Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.057 — mathematically equivalent to about 18 equally-sized positions, close to its 28 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.78), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 69% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out DKNG
New buy SPOT
Sold out PANW
New buy VRNS
Trim IQV
+0.3% $18.9M
New buy DHR
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IQV | Iqvia Holdings Inc | Stock-Healthcare | 11.93% | -4.96% | +0.32% | |
| 2 | GH | Guardant Health Inc | Stock-Healthcare | 8.60% | -0.17% | -2.85% | |
| 3 | FLYW | Flywire Corp-voting | Stock-Other | 7.64% | -1.74% | -13.21% | |
| 4 | PLNT | Planet Fitness Inc - Cl A | Stock-Consumer Disc | 6.32% | +3.10% | +350.80% | |
| 5 | SPOT | Spotify Technology S.A. | Stock-Comm Services | 6.05% | +6.05% | NEW | |
| 6 | MNDY | monday.com Ltd. | Stock-Tech | 5.17% | +0.63% | +74.95% | |
| 7 | VRNS | Varonis Systems Inc | Stock-Tech | 5.04% | +5.04% | NEW | |
| 8 | DHR | Danaher CORP | Stock-Healthcare | 4.70% | +4.70% | NEW | |
| 9 | EVH | Evolent Health Inc - A | Stock-Other | 4.44% | +1.44% | — | |
| 10 | HQY | Healthequity Inc | Stock-Healthcare | 4.28% | -4.19% | -24.74% | |
| 11 | INTA | Intapp Inc | Stock-Other | 4.16% | +0.25% | +74.65% | |
| 12 | SIBN | Si-bone Inc | Stock-Other | 4.13% | +1.23% | +77.36% | |
| 13 | BSX | Boston Scientific CORP | Stock-Healthcare | 3.57% | +2.27% | +550.08% | |
| 14 | TCMD | Tactile Systems Technology I | Stock-Other | 3.55% | +0.24% | +51.47% | |
| 15 | CYRX | Cryoport Inc | Stock-Other | 3.47% | -1.35% | -38.85% | |
| 16 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.24% | +3.24% | NEW | |
| 17 | PCOR | Procore Technologies Inc | Stock-Tech | 2.60% | +0.31% | +156.06% | |
| 18 | NTNX | Nutanix Inc - A | Stock-Tech | 2.31% | -1.62% | -29.47% | |
| 19 | ALKT | Alkami Technology Inc | Stock-Other | 2.03% | -0.52% | +10.62% | |
| 20 | VRSN | Verisign Inc | Stock-Tech | 1.50% | +0.14% | +75.56% | |
| 21 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.30% | -0.66% | -24.74% | |
| 22 | EQIX | Equinix Inc | Stock-Real Estate | 1.07% | +1.07% | NEW | |
| 23 | OABI | Omniab Inc | Stock-Other | 0.78% | -0.01% | +1.32% | |
| 24 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.62% | +0.62% | NEW | |
| 25 | WK | Workiva Inc | Stock-Tech | 0.53% | +0.53% | NEW | |
| 26 | SHC | Sotera Health Co | Stock-Other | 0.47% | +0.47% | NEW | |
| 27 | MDLN | Medline Inc-cl A | Stock-Other | 0.30% | +0.30% | NEW | |
| 28 | MXCT | Maxcyte Inc | Stock-Other | 0.20% | +0.05% | +27.76% |
Portfolio Performance
Performance for Q3 2026
+22.3%
Performance Last 4 Quarters
+23.7%
- Stdev
- +23.4%
- Beta
- +1.26
- Alpha
- -6.2%
- Max Drawdown
- -23.6%
- Annualized Perf
- +17.6%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +1.55
- Stutzer
- +0.24
- Treynor
- +0.15
- Sterling
- +0.7
- Calmar
- +0.75
- Information Ratio
- -0.06
- Tracking Error
- +17.1%
- Stdev Down
- +12.2%
- Winning Months %
- +55.6%
- Losing Months %
- +44.4%
- Best 12 Months
- +26.4%
- Worst 12 Months
- -10.8%
- Efficiency Ratio
- +0.33
- Sharpe
- +0.81
- Stdev Sectors
- +16.2%
- Skewness
- +0.41
- Kurtosis
- -0.14
- Upside Potential
- +3.39
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 28 | $1.3B | 75 | ||
| 2026 Q1 | 23 | $821.2M | 79 | ||
| 2025 Q4 | 26 | $1.4B | 60 | ||
| 2025 Q3 | 26 | $1.7B | 100 | ||
| 2025 Q2 | 24 | $1.8B | 0 | ||
| 2025 Q1 | 30 | $2.3B | 100 | ||
| 2024 Q4 | 26 | $1.7B | 0 | ||
| 2024 Q3 | 28 | $2.0B | 0 | ||
| 2024 Q2 | 29 | $2.0B | 0 | ||
| 2024 Q1 | 36 | $2.8B | 0 | ||
| 2023 Q4 | 31 | $2.5B | 0 | ||
| 2023 Q3 | 32 | $2.5B | 0 | ||
| 2023 Q2 | 30 | $2.1B | 0 | ||
| 2023 Q1 | 26 | $1.6B | 0 | ||
| 2022 Q4 | 31 | $1.4B | 0 | ||
| 2022 Q3 | 56 | $1.7B | 0 | ||
| 2022 Q2 | 56 | $1.5B | 0 | ||
| 2022 Q1 | 60 | $2.0B | 0 | ||
| 2021 Q4 | 63 | $1.8B | 0 | ||
| 2021 Q3 | 66 | $2.6B | 0 | ||
| 2021 Q2 | 58 | $2.3B | 100 | ||
| 2021 Q1 | 53 | $2.7B | 70 | ||
| 2020 Q4 | 34 | $3.9B | 47 | ||
| 2020 Q3 | 26 | $3.1B | 48 | ||
| 2020 Q2 | 23 | $2.4B | 57 | ||
| 2020 Q1 | 26 | $2.0B | 63 | ||
| 2019 Q4 | 29 | $2.3B | 36 | ||
| 2019 Q3 | 26 | $2.1B | 36 | ||
| 2019 Q2 | 28 | $2.2B | 48 | ||
| 2019 Q1 | 32 | $2.6B | 48 | ||
| 2018 Q4 | 29 | $2.1B | 44 | ||
| 2018 Q3 | 27 | $2.2B | 43 | ||
| 2018 Q2 | 25 | $2.1B | 40 | ||
| 2018 Q1 | 29 | $1.9B | 43 | ||
| 2017 Q4 | 26 | $1.6B | 46 | ||
| 2017 Q3 | 42 | $2.1B | 56 | ||
| 2017 Q2 | 40 | $2.1B | 65 | ||
| 2017 Q1 | 44 | $2.1B | 43 | ||
| 2016 Q4 | 43 | $1.9B | 66 | ||
| 2016 Q3 | 51 | $1.9B | 52 | ||
| 2016 Q2 | 44 | $1.8B | 74 | ||
| 2016 Q1 | 57 | $1.5B | 81 | ||
| 2015 Q4 | 99 | $2.8B | 72 | ||
| 2015 Q3 | 80 | $2.8B | 70 | ||
| 2015 Q2 | 81 | $3.4B | 65 | ||
| 2015 Q1 | 89 | $3.7B | 64 | ||
| 2014 Q4 | 105 | $4.0B | 51 | ||
| 2014 Q3 | 88 | $3.8B | 48 | ||
| 2014 Q2 | 87 | $3.4B | 58 | ||
| 2014 Q1 | 94 | $4.0B | 50 | ||
| 2013 Q4 | 85 | $3.9B | 56 | ||
| 2013 Q3 | 81 | $3.4B | 58 | 1021441269344F3268648 | |
| 2013 Q2 | 79 | $3.3B | 0 |
Holding changes this quarter
Cadian Capital Management, LP's most significant position changes for 2026-06-30: New buy: Spotify Technology S.A. (SPOT); Sold out: Draftkings Inc-cl A (DKNG); New buy: Varonis Systems Inc (VRNS); New buy: Danaher CORP (DHR); Sold out: Palo Alto Networks Inc (PANW).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPOT | Spotify Technology S.A. | +6.1% | NEW | New buy |
| 2 | VRNS | Varonis Systems Inc | +5% | NEW | New buy |
| 3 | DHR | Danaher CORP | +4.7% | NEW | New buy |
| 4 | AMZN | Amazon.com Inc | +3.2% | NEW | New buy |
| 5 | PLNT | Planet Fitness Inc - Cl A | +3.1% | +350.80% | Add |
| 6 | BSX | Boston Scientific CORP | +2.3% | +550.08% | Add |
| 7 | EVH | Evolent Health Inc - A | +1.4% | — | Unchanged |
| 8 | SIBN | Si-bone Inc | +1.2% | +77.36% | Add |
| 9 | EQIX | Equinix Inc | +1.1% | NEW | New buy |
| 10 | MNDY | monday.com Ltd. | +0.6% | +74.95% | Add |
| 11 | META | Meta Platforms Inc-class A | +0.6% | NEW | New buy |
| 12 | WK | Workiva Inc | +0.5% | NEW | New buy |
| 13 | SHC | Sotera Health Co | +0.5% | NEW | New buy |
| 14 | PCOR | Procore Technologies Inc | +0.3% | +156.06% | Add |
| 15 | MDLN | Medline Inc-cl A | +0.3% | NEW | New buy |
| 16 | INTA | Intapp Inc | +0.3% | +74.65% | Add |
| 17 | TCMD | Tactile Systems Technology I | +0.2% | +51.47% | Add |
| 18 | VRSN | Verisign Inc | +0.1% | +75.56% | Add |
| 19 | MXCT | Maxcyte Inc | +0.1% | +27.76% | Add |
| 20 | OABI | Omniab Inc | 0% | +1.32% | Add |
| 21 | GH | Guardant Health Inc | -0.2% | -2.85% | Trim |
| 22 | ALKT | Alkami Technology Inc | -0.5% | +10.62% | Add |
| 23 | PEGA | Pegasystems Inc | -0.6% | EXIT | Sold out |
| 24 | TSM | Taiwan Semiconductor-sp Adr | -0.7% | -24.74% | Trim |
| 25 | GLBE | Global-E Online Ltd. | -0.8% | EXIT | Sold out |
| 26 | CYRX | Cryoport Inc | -1.4% | -38.85% | Trim |
| 27 | NTNX | Nutanix Inc - A | -1.6% | -29.47% | Trim |
| 28 | FLYW | Flywire Corp-voting | -1.7% | -13.21% | Trim |
| 29 | HQY | Healthequity Inc | -4.2% | -24.74% | Trim |
| 30 | IQV | Iqvia Holdings Inc | -5% | +0.32% | Add |
| 31 | PANW | Palo Alto Networks Inc | -5.4% | EXIT | Sold out |
| 32 | DKNG | Draftkings Inc-cl A | -9.6% | EXIT | Sold out |
Filing History
FAQ
What is Cadian Capital Management, LP and what type of investor is it?
Cadian Capital Management, LP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.3B, spread across 28 disclosed positions.
What are Cadian Capital Management, LP's largest equity positions?
Based on the latest 13F filing, Cadian Capital Management, LP's top holdings by market value are:
1. Iqvia Holdings Inc (IQV) — $157.6M (11.9%)
2. Guardant Health Inc (GH) — $113.6M (8.6%)
3. Flywire Corp-voting (FLYW) — $100.9M (7.6%)
4. Planet Fitness Inc - Cl A (PLNT) — $83.5M (6.3%)
5. Spotify Technology S.A. (SPOT) — $79.9M (6.0%)
What changes did Cadian Capital Management, LP make in its most recent portfolio filing?
In the latest reported quarter, Cadian Capital Management, LP made 31 notable position adjustments: 9 new positions were initiated, 12 existing holdings were added to, 6 positions were partially reduced, and 4 were completely exited. The largest of these moves: New buy: Spotify Technology S.A. (SPOT); Sold out: Draftkings Inc-cl A (DKNG); New buy: Varonis Systems Inc (VRNS); New buy: Danaher CORP (DHR); Sold out: Palo Alto Networks Inc (PANW)
What sectors does Cadian Capital Management, LP focus on?
Cadian Capital Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 48.1%
• Information Technology: 26.8%
• Consumer Discretionary: 13.9%
• Communication Services: 9.7%
• Real Estate: 1.6%
Investment Profile
Cadian Capital Management, LP returned an annualized 17.6% over the trailing 36 months — underperforming the S&P 500 by 6.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.26 (more volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading, with 48.1% of the portfolio concentrated in Health Care.
Its turnover score has risen from 0 to 75 over the past 4 quarters — a shift toward more active trading.
It has added to its INTA position over the past two quarters (+$46.5M, now $55.0M), while trimming NTNX over the same stretch (-$40.7M, still holding $30.6M).
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