Atlassian (TEAM)


Market Price (10/14/2026): $206.55 | Market Cap: $52.2 BilSector: Information Technology | Industry: Application Software

Atlassian (TEAM)


Market Price (10/14/2026): $206.55
Market Cap: $52.2 Bil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%

Stock buyback support
Stock Buyback 3Y Total is 3.0 Bil

Megatrend and thematic drivers
Megatrends include Cloud Computing, Automation & Robotics, and Artificial Intelligence. Themes include Software as a Service (SaaS), Show more.

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 736x

Stock price has recently run up significantly
6M Rtn6 month market price return is 248%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 24%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 178%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.0%

Key risks
TEAM key risks include [1] intense competition from major enterprise software players targeting its core markets and [2] specific cloud service reliability failures, Show more.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%
1 Stock buyback support
Stock Buyback 3Y Total is 3.0 Bil
2 Megatrend and thematic drivers
Megatrends include Cloud Computing, Automation & Robotics, and Artificial Intelligence. Themes include Software as a Service (SaaS), Show more.
3 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 736x
4 Stock price has recently run up significantly
6M Rtn6 month market price return is 248%
5 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 24%
6 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 178%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.0%
8 Key risks
TEAM key risks include [1] intense competition from major enterprise software players targeting its core markets and [2] specific cloud service reliability failures, Show more.

TEAM in ETFs

Weight = TEAM's share of each fund

VTI0.04%
ITOT0.04%
IWB0.05%
VUG0.12%
VO0.30%
IGV1.0%
IWP0.92%
VOT0.70%
+16 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/12/2026

Atlassian (TEAM) stock has gained about 165% since 6/30/2026 because of the following key factors:

1. Exceptional Q4 Fiscal Year 2026 Earnings Beat and Upbeat Guidance.

Atlassian reported Q4 fiscal year 2026 (ended June 30, 2026) adjusted earnings per share (EPS) of $1.87, significantly surpassing analysts' estimates of $1.27 by 47.24%. Revenue reached $1.77 billion, a 28% year-over-year increase, exceeding the $1.66 billion forecast. Cloud revenue growth accelerated to 31% year-over-year, reaching $1.213 billion, and remaining performance obligations (RPO) surged 44% to $4.817 billion. The company's optimistic guidance for fiscal year 2027, projecting total revenue growth of approximately 13% and cloud revenue growth of approximately 25.5%, contributed to the stock's surge of over 35% on the earnings announcement day.

2. Achieved GAAP Profitability and Enhanced Operational Efficiency.

Atlassian achieved GAAP operating profitability in Q4 fiscal year 2026 with a 12% operating margin, a notable improvement from an operating loss of $28 million and a negative 2% margin in the prior year. This turnaround was partly attributed to "infrastructure optimization and improved operating leverage following a restructuring earlier in the year," including approximately 1,600 layoffs largely completed by June 30, 2026. The non-GAAP operating margin expanded to 36% from 24% year-over-year.

Show more
Updated on 10/12/2026

Atlassian (TEAM) stock has gained about 165% since 6/30/2026 because of the following key factors:

1. Exceptional Q4 Fiscal Year 2026 Earnings Beat and Upbeat Guidance.

Atlassian reported Q4 fiscal year 2026 (ended June 30, 2026) adjusted earnings per share (EPS) of $1.87, significantly surpassing analysts' estimates of $1.27 by 47.24%. Revenue reached $1.77 billion, a 28% year-over-year increase, exceeding the $1.66 billion forecast. Cloud revenue growth accelerated to 31% year-over-year, reaching $1.213 billion, and remaining performance obligations (RPO) surged 44% to $4.817 billion. The company's optimistic guidance for fiscal year 2027, projecting total revenue growth of approximately 13% and cloud revenue growth of approximately 25.5%, contributed to the stock's surge of over 35% on the earnings announcement day.

2. Achieved GAAP Profitability and Enhanced Operational Efficiency.

Atlassian achieved GAAP operating profitability in Q4 fiscal year 2026 with a 12% operating margin, a notable improvement from an operating loss of $28 million and a negative 2% margin in the prior year. This turnaround was partly attributed to "infrastructure optimization and improved operating leverage following a restructuring earlier in the year," including approximately 1,600 layoffs largely completed by June 30, 2026. The non-GAAP operating margin expanded to 36% from 24% year-over-year.

3. Strong Traction in AI Offerings and Enterprise Adoption.

Atlassian's focus on AI-powered collaboration and productivity software gained significant momentum, with its Rovo AI productivity offer adopted by over 80% of Fortune 500 companies. Furthermore, customers utilizing Rovo demonstrated twice the annual recurring revenue (ARR) growth compared to non-adopters, showcasing successful AI monetization and deepening enterprise commitment to its platform.

4. Positive Analyst Sentiment and Price Target Upgrades.

Following the strong financial results and strategic positioning, numerous Wall Street analysts upgraded Atlassian's stock and raised their price targets. RBC Capital increased its price target to $235 from $215, maintaining an Outperform rating, and Bank of America upgraded the stock to Buy with a $175 price target. As of October 12, 2026, analysts hold a "Moderate Buy" consensus rating for Atlassian, with 25 out of 30 analysts recommending a "Buy."

5. Significant Insider Purchase Signaling Confidence.

Atlassian's CEO and co-founder, Mike Cannon-Brookes, announced plans to purchase up to $250 million of Atlassian Class A stock on the open market under a Rule 10b5-1 trading plan, signaling strong management confidence in the company's future performance.

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Stock Movement Drivers

Fundamental Drivers

The 167.4% change in TEAM stock from 6/30/2026 to 10/13/2026 was primarily driven by a 144.0% change in the company's P/S Multiple.
(LTM values as of)630202610132026Change
Stock Price ($)77.79208.04167.4%
Change Contribution By: 
Total Revenues ($ Mil)6,1906,5726.2%
P/S Multiple3.38.0144.0%
Shares Outstanding (Mil)2612533.2%
Cumulative Contribution167.4%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/13/2026
ReturnCorrelation
TEAM167.4% 
Market (SPY)4.2%14.5%
Sector (XLK)3.0%-5.3%

Fundamental Drivers

The 204.8% change in TEAM stock from 3/31/2026 to 10/13/2026 was primarily driven by a 156.0% change in the company's P/S Multiple.
(LTM values as of)331202610132026Change
Stock Price ($)68.25208.04204.8%
Change Contribution By: 
Total Revenues ($ Mil)5,7606,57214.1%
P/S Multiple3.18.0156.0%
Shares Outstanding (Mil)2642534.3%
Cumulative Contribution204.8%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/13/2026
ReturnCorrelation
TEAM204.8% 
Market (SPY)19.9%8.0%
Sector (XLK)47.9%3.6%

Fundamental Drivers

The 30.3% change in TEAM stock from 9/30/2025 to 10/13/2026 was primarily driven by a 26.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202510132026Change
Stock Price ($)159.70208.0430.3%
Change Contribution By: 
Total Revenues ($ Mil)5,2156,57226.0%
P/S Multiple8.08.0-0.6%
Shares Outstanding (Mil)2632534.0%
Cumulative Contribution30.3%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/13/2026
ReturnCorrelation
TEAM30.3% 
Market (SPY)17.8%12.7%
Sector (XLK)39.8%9.5%

Fundamental Drivers

The 3.2% change in TEAM stock from 9/30/2023 to 10/13/2026 was primarily driven by a 85.9% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202310132026Change
Stock Price ($)201.51208.043.2%
Change Contribution By: 
Total Revenues ($ Mil)3,5356,57285.9%
P/S Multiple14.78.0-45.5%
Shares Outstanding (Mil)2572531.8%
Cumulative Contribution3.2%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/13/2026
ReturnCorrelation
TEAM3.2% 
Market (SPY)88.2%32.5%
Sector (XLK)143.7%28.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
TEAM Return63%-66%85%2%-33%28%-11%
Peers Return44%-49%63%17%-20%3%16%
S&P 500 Return27%-19%24%23%16%14%108%

Monthly Win Rates [3]
TEAM Win Rate67%25%67%33%33%50% 
Peers Win Rate57%27%57%62%38%48% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
TEAM Max Drawdown-25%-69%-31%-47%-55%-65% 
Peers Max Drawdown-27%-56%-27%-32%-39%-45% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: NOW, MSFT, ASAN, GTLB, CRM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/13/2026 (YTD)

How Low Can It Go

EventTEAMS&P 500
2024 Yen Carry Trade Unwind
  % Loss-21.2%-7.8%
  % Gain to Breakeven27.0%8.5%
  Time to Breakeven63 days18 days
2023 SVB Regional Banking Crisis
  % Loss-25.9%-6.7%
  % Gain to Breakeven35.0%7.1%
  Time to Breakeven23 days31 days
2020 COVID-19 Crash
  % Loss-20.7%-33.7%
  % Gain to Breakeven26.1%50.9%
  Time to Breakeven32 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-27.8%-19.2%
  % Gain to Breakeven38.4%23.8%
  Time to Breakeven76 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-19.8%-3.7%
  % Gain to Breakeven24.7%3.9%
  Time to Breakeven61 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-35.5%-12.2%
  % Gain to Breakeven55.0%13.9%
  Time to Breakeven163 days62 days

Compare to NOW, MSFT, ASAN, GTLB, CRM

In The Past

Atlassian's stock fell -21.2% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 27.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventTEAMS&P 500
2024 Yen Carry Trade Unwind
  % Loss-21.2%-7.8%
  % Gain to Breakeven27.0%8.5%
  Time to Breakeven63 days18 days
2023 SVB Regional Banking Crisis
  % Loss-25.9%-6.7%
  % Gain to Breakeven35.0%7.1%
  Time to Breakeven23 days31 days
2020 COVID-19 Crash
  % Loss-20.7%-33.7%
  % Gain to Breakeven26.1%50.9%
  Time to Breakeven32 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-27.8%-19.2%
  % Gain to Breakeven38.4%23.8%
  Time to Breakeven76 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-35.5%-12.2%
  % Gain to Breakeven55.0%13.9%
  Time to Breakeven163 days62 days
2014-2016 Oil Price Collapse
  % Loss-35.5%-6.8%
  % Gain to Breakeven55.0%7.3%
  Time to Breakeven163 days15 days

Compare to NOW, MSFT, ASAN, GTLB, CRM

In The Past

Atlassian's stock fell -21.2% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 27.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Atlassian (TEAM)

Atlassian Corporation Plc is a global software company specializing in designing, developing, licensing, and maintaining a comprehensive suite of products. The company's primary focus is on enhancing team collaboration, workflow management, and software development processes. Atlassian's mission is to empower teams worldwide to effectively plan, track, collaborate on, and manage their work and projects, facilitating improved productivity and communication across various organizational functions.

The company offers a robust portfolio of widely used software tools. Prominent products include Jira, a versatile workflow management system for tracking tasks and projects across teams; Jira Service Management, a dedicated service desk solution for IT, HR, and legal departments; and Trello, a visual collaboration product designed for organizing tasks and managing projects. For content creation and shared workspaces, Atlassian provides Confluence. Additionally, it supports software development with Bitbucket for code sharing and management, Opsgenie for centralized incident management and alerting, and Statuspage for transparent incident communication.

Atlassian's extensive product line serves a broad and diverse customer base globally. Its solutions are adopted by a wide range of teams within organizations, including software development, IT operations, HR, legal, and general project management teams. By providing tools that cater to agile planning, project oversight, and seamless communication, Atlassian enables organizations of all sizes—from small teams to large enterprises—to streamline their operations and foster more efficient, collaborative work environments.

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The Microsoft 365 for teams focused on project management, collaboration, and software development.

Imagine GitHub for software developers, but expanded to include powerful project management and team collaboration tools for everyone.

The Salesforce for internal team operations, project management, and software development.

AI Analysis | Feedback

  • JIRA: A workflow management system enabling teams to plan, track, collaborate, and manage work and projects.
  • Jira Service Management: A service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams.
  • Jira Align: An enterprise agile planning tool designed for large-scale agile transformations.
  • Opsgenie: An incident management tool that centralizes alerts and notifies the right people at the right time.
  • Statuspage: A platform used for incident communication, keeping stakeholders informed during service disruptions.
  • Confluence: A remote-friendly team workspace for building, organizing, and collaborating on content virtually.
  • Trello: A collaboration product that helps teams manage projects, organize tasks, and build team spirit.
  • Bitbucket: A code sharing and management platform primarily used by development teams.

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  • Amazon.com, Inc. (AMZN)
  • Alphabet Inc. (GOOGL)

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Mike Cannon-Brookes, CEO & Co-Founder

Mike Cannon-Brookes co-founded Atlassian with Scott Farquhar in 2002, funding the company with credit cards shortly after graduating from university. The company was bootstrapped, relying on organic growth and reinvestment of profits rather than initial venture capital investment. He is also involved in several other business ventures, including a significant investment in the Sun Cable project, which aims to build a solar and battery farm, and holds a minority stake in the NBA's Utah Jazz. Cannon-Brookes serves as an adjunct professor at the University of New South Wales' School of Computer Science and Engineering and is the chairman of Blackbird Ventures, a venture capital firm. He also formed a climate fund called Boundless Earth in 2022. He was recognized as the Australian IT Professional of the Year in 2004 and, alongside Scott Farquhar, as the Australian Entrepreneur of the Year in 2006.

Joe Binz, Chief Financial Officer

Joe Binz joined Atlassian as Chief Financial Officer in September 2022, overseeing the company's Accounting, Finance, Internal Audit, Investor Relations, Tax, and Treasury teams. He brings over 25 years of finance leadership and experience in the technology industry. Prior to joining Atlassian, Binz was Microsoft's Corporate Vice President, Finance, where he was responsible for financial planning and analysis, investor relations, acquisition integration, and procurement functions. His career also includes significant roles at Intel Corporation and KPMG Peat Marwick.

Brian Duffy, Chief Revenue Officer

Brian Duffy will join Atlassian as Chief Revenue Officer, effective January 1, 2025. He has over 20 years of experience in the technology industry. Previously, Duffy spent 18 years at SAP, where his most recent role was President of Cloud. In this role, he launched, built, and scaled the strategic initiative 'RISE with SAP,' transforming it into a multi-billion dollar business within two years by helping customers transition to the cloud. Following his time at SAP, Brian served as CEO of SoftwareOne, where he positioned the company for its next phase of growth. He has extensive international experience from living and working in the United States, Europe, China, and Japan.

Rajeev Rajan, Chief Technology Officer

Rajeev Rajan joined Atlassian as Chief Technology Officer in May 2022. He is responsible for Atlassian Engineering, IT, Security and Trust, and the Engineering Operations teams, focusing on the company's cloud transformation, Developer Platform, and Product lines. Rajan's background includes senior roles at Facebook and Microsoft. He holds advanced degrees in Computer Science.

Anu Bharadwaj, President

Anu Bharadwaj is the President at Atlassian, responsible for overseeing the company's strategic initiatives and ensuring operational excellence. Her key skills encompass product management, strategic planning, and leadership, which contribute to Atlassian's growth and innovation. Bharadwaj has a rich background that includes roles such as Chief Operating Officer and VP of Product at Atlassian, and has held various leadership positions at Microsoft and other tech companies.

AI Analysis | Feedback

Atlassian (TEAM) faces several key risks to its business operations and market position. The most significant risk stems from **intense competition** within the enterprise software market. Atlassian operates in a fiercely competitive landscape, facing formidable rivals such as Microsoft (with Azure DevOps, GitHub, Teams, and SharePoint), GitLab Inc., ServiceNow, and Salesforce (Slack). Microsoft is particularly highlighted as a major competitive threat, leveraging its broad ecosystem and vertical integration to offer comprehensive solutions that can challenge Atlassian's market share in areas like agile project management and DevOps tooling. Competitors like GitLab also offer integrated, end-to-end DevOps platforms, presenting a "toolchain tax" argument against Atlassian's suite model. Another critical risk is **cybersecurity threats and vulnerabilities** affecting its products. Atlassian's core offerings, including Jira, Confluence, and Bitbucket, have been subject to critical security flaws and active exploitation. These vulnerabilities, some with high severity scores, include remote code execution (RCE), privilege escalation, and information disclosure issues. Such exploits can lead to unauthorized access, data breaches, system compromise, and a loss of customer trust. The increasing reliance on cloud applications also introduces risks related to authorization and access-control issues within its cloud services. Finally, the **challenges associated with cloud migration and the discontinuation of server products** represent a key risk. Atlassian has been actively phasing out support for its server products, compelling its large customer base to migrate to either its cloud offerings or Data Center platform. This transition poses an ongoing challenge, as Atlassian must ensure its legacy customers migrate without significant attrition. Delaying this migration can expose customers to increased vulnerabilities due to a lack of security updates and support for unsupported server products. Furthermore, Atlassian is heavily investing in its cloud platform, making new, critical features and advanced tools, including AI and automation capabilities, exclusive to the cloud, which could disadvantage customers remaining on older platforms.

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The emergence of "Work OS" platforms such as Notion, ClickUp, and Monday.com, which offer highly flexible, all-in-one workspaces capable of consolidating functions traditionally spread across multiple Atlassian products like Confluence (for content and wikis), Trello (for task management), and even some project tracking aspects of Jira for non-technical teams. These platforms often provide a more unified user experience, extensive customization, and increasingly sophisticated AI capabilities, directly challenging Atlassian's strategy of providing distinct, albeit integrated, tools.

The rise of fully integrated DevOps platforms like GitLab, which consolidate the entire software development lifecycle—including source code management (competing with Bitbucket), CI/CD (competing with Bamboo), issue tracking (competing with Jira), and other developer services—into a single application. This unified approach provides a compelling alternative for development teams seeking to simplify and streamline their toolchains, potentially displacing Atlassian's suite of specialized developer tools.

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Atlassian (symbol: TEAM) operates within significant addressable markets across its core product offerings. The company estimates its total serviceable addressable market (SAM) to be approximately $67 billion globally, with an anticipated growth rate of 13% annually. This overall market is projected to reach $176 billion by 2025, growing at 11% annually, encompassing software development, service management, and work management categories worldwide. Here's a breakdown of the addressable markets for Atlassian's main products and services: * Jira (Workflow Management, Project Management, Software Development, Enterprise Agile Planning): * The serviceable addressable market for software development is estimated at $17 billion globally, with a 9% annual growth rate. * The global Enterprise Agile Planning (EAP) market was valued at USD 1.58 billion in 2025 and is expected to grow to USD 4.69 billion by 2033. Another estimate projects the global EAP market to be approximately USD 3 billion in 2026, reaching USD 21.34 billion by 2035. * Jira Service Management (IT Service Management - ITSM): * The serviceable addressable market for service management is estimated at $15 billion globally, growing at 13% annually. Atlassian also identifies an additional $9 billion opportunity by expanding its use cases beyond traditional IT teams to areas like HR, legal, and marketing. * The global IT Service Management (ITSM) market was estimated at USD 13.4567 billion in 2024 and is projected to reach USD 29.927 billion by 2030. Other reports indicate the global ITSM market size at USD 13.49 billion in 2024, predicted to grow to approximately USD 51.93 billion by 2034. North America held the largest share of this market, accounting for over 40% in 2024. * Opsgenie and Statuspage (Incident Management and Communication): * These products fall under the broader Incident Management Software market. The global incident management software market was valued at USD 2.5 billion in 2024 and is projected to reach USD 5.93 billion by 2032. Another source estimates the global market at USD 7.215 billion in 2024, growing to USD 15.57883 billion by 2032. * The global Cyber Incident Management Software market was valued at US$ 36.9 billion in 2025 and is expected to reach US$ 131.6 billion by 2032. North America accounts for approximately 40% of the global incident management software market. * Confluence and Trello (Team Collaboration, Work Management, Knowledge Management): * Atlassian's serviceable addressable market for work management is estimated at US$35 billion globally. * The global Team Collaboration Software market was valued at USD 21.5 billion in 2025 and is expected to reach USD 55.0 billion by 2034. Other estimates place the global market at USD 36.1142 billion in 2024, projected to reach USD 57.4038 billion by 2030. North America held the largest share of the team collaboration software market, accounting for over 37% in 2024. * Confluence has a market share of 1.88% in Knowledge Management and 2.01% in productivity software globally. * Bitbucket (Code Sharing and Management, Version Control Systems): * The global Version Control Systems (VCS) market was valued at USD 1.24 billion in 2025 and is projected to grow to USD 5.89 billion by 2034. Other reports estimate the global VCS market at USD 1.03 billion in 2024, reaching USD 2.66 billion by 2030. North America dominates the VCS market, holding over 35% in 2025. * Bitbucket holds approximately 11% of the global market share for hosting services for source code and development projects. It also has an estimated market share of 18.53% in Continuous Integration and Delivery globally.

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Atlassian (TEAM) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:

  1. Cloud Migration: A significant driver of revenue growth is the ongoing migration of customers from Atlassian's legacy Data Center products to its cloud solutions. This transition has led to raised cloud revenue guidance and continues to show robust momentum. Management has noted strong migration performance and outperformance in cloud revenue, indicating continued customer adoption of cloud solutions.
  2. Enterprise Customer Expansion: Atlassian is experiencing strong execution from its enterprise sales and partner teams, resulting in a record number of deals exceeding $1 million in annual contract value. The company is focused on increasing its strategic value within existing enterprise accounts and expanding its large customer base, which now exceeds 300,000 customers.
  3. Artificial Intelligence (AI) Integration and Offerings: Heavy investment in AI and its integration across Atlassian's platform are identified as significant tailwinds for the company. Atlassian has seen rapid adoption of its AI capabilities, with millions of monthly active users, and is delivering new AI-driven innovations like "Rovo" and "Agents in Jira."
  4. Product-led Growth and Platform Expansion: Atlassian's core strategy of product-led growth and expanding its platform ecosystem, including new product launches and continued development of existing products (Jira, Confluence, Trello, Bitbucket), will contribute to revenue growth. The recently introduced "Teamwork collection" has shown strong momentum and is exceeding expectations.
  5. International Expansion: The company's international revenue streams, particularly from the EMEA and Asia Pacific regions, are expected to continue growing. These markets contribute a substantial portion to Atlassian's total revenue, with analysts projecting further increases in these segments.

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1. Share Repurchases

  • In October 2025, Atlassian authorized a new share buyback program of up to $2.5 billion, which is set to follow a previous $1.5 billion initiative launched in September 2024.
  • The company repurchased $779.439 million in shares in 2025, $395.256 million in 2024, and $150.006 million in 2023.

2. Share Issuance

  • Atlassian's shares outstanding have shown slight annual increases, reaching 0.262 billion in 2025 (a 1.02% increase from 2024), 0.259 billion in 2024 (a 1.1% increase from 2023), and 0.256 billion in 2023 (a 1.18% increase from 2022).
  • Share-based compensation amounted to $1.9 billion in fiscal year 2025.

4. Outbound Investments

  • Atlassian completed the acquisition of DX, an engineering intelligence company, in November 2025 for approximately $1 billion in cash and restricted stock to enhance its AI investments and developer experience insights.
  • In December 2025, Atlassian acquired Secoda, a provider of an AI platform for data and analytics solutions.
  • The company also acquired The Browser Company for $610 million in October 2025.

5. Capital Expenditures

  • Capital expenditures for the trailing twelve months leading up to February 2026 were reported as "negligible" at $52.7 million.
  • The primary focus of investments, which includes capital expenditures, has been on enhancing AI capabilities, enterprise sales, cloud platform infrastructure, and overall enterprise-grade capabilities for its System of Work.
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Better Bets vs. Atlassian (TEAM)

Peer Outperformance in Application Software

TEAM has trailed 54% of its 124 Application Software peers over 5Y. Among the peers that beat it are FROG, YOU and DT. Application Software ranks 11th of 12 industries in Information Technology by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Application Software constituents that TEAM has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
87%
of 151 industry peers · 39.3% return
3Y
60%
of 138 industry peers · 10.5% return
5Y
46%
of 124 industry peers · -48.9% return
Application Software peers with revenue growth within 4pp of TEAM's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
TEAM Atlassian 23.0% -977.2x 39.3%10.5%-48.9% —
FROG JFrog 24.3% -274.4x 110.5%325.0%196.3% +245pp
YOU Clear Secure 24.0% 29.7x 45.1%190.1%28.4% +77pp
DT Dynatrace 19.6% 124.5x 33.4%36.9%-15.1% +34pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Information Technology sector, ranked by 5Y. Application Software is TEAM's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Electronic Manufacturing Services 9 64.1%175.0%326.7% TTMI 768% · FLEX 726% · SANM 449%
Semiconductor Materials & Equipment 27 78.7%85.9%110.3% AXTI 696% · KLAC 503% · LRCX 482%
Technology Distributors 9 61.9%93.0%102.9% AVT 208% · SNX 186% · CNXN 131%
Communications Equipment 36 4.5%112.5%70.8% AAOI 1258% · LITE 1060% · ANET 752%
Electronic Components 26 24.5%81.4%70.5% CLS 3781% · BELFA 1359% · COHR 419%
Semiconductors 54 10.1%51.0%36.1% MU 1370% · NVDA 996% · AVGO 705%
Internet Services & Infrastructure 6 -3.2%43.1%19.3% GDDY 50% · VRSN 46% · DOCN 41%
Technology Hardware, Storage & Peripherals 21 17.7%93.4%17.0% DELL 1107% · SMCI 991% · STX 982%
Electronic Equipment & Instruments 26 -15.4%29.0%-4.9% PI 250% · KEYS 126% · OSIS 105%
IT Consulting & Other Services 28 -24.9%-12.1%-17.2% APLD 570% · ADEA 167% · IBM 107%
Application Software ← 125 -24.5%-13.9%-46.3% PLTR 765% · FROG 196% · CDNS 118%
Systems Software 68 -15.9%26.1%-48.9% ZETA 322% · CRWD 286% · FTNT 208%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

TEAMNOWMSFTASANGTLBCRMMedian
NameAtlassianServiceN.MicrosoftAsana GitLab Salesfor. 
Mkt Price207.35139.63546.679.9049.86238.70173.49
Mkt Cap52.40.14,059.62.38.4195.730.4
Rev LTM6,57214,732331,8398281,05543,93810,652
Op Inc LTM101,680155,237-160-909,455845
FCF LTM1,3194,57166,98711221415,1542,945
FCF 3Y Avg1,3833,80970,8904210513,0372,596
CFO LTM1,3535,308182,93513022315,7503,331
CFO 3Y Avg1,4214,628145,8825611113,6643,024

Growth & Margins

TEAMNOWMSFTASANGTLBCRMMedian
NameAtlassianServiceN.MicrosoftAsana GitLab Salesfor. 
Rev Chg LTM26.0%22.2%17.8%9.5%23.0%11.2%20.0%
Rev Chg 3Y Avg23.0%22.5%16.1%11.0%28.1%9.9%19.3%
Rev Chg Q27.6%24.0%17.7%9.9%21.3%10.8%19.5%
QoQ Delta Rev Chg LTM6.2%5.5%4.3%2.4%5.0%2.6%4.6%
Op Inc Chg LTM107.9%4.9%20.8%26.1%10.7%12.8%16.8%
Op Inc Chg 3Y Avg54.2%55.3%20.6%22.0%24.1%31.8%28.0%
Op Mgn LTM0.2%11.4%46.8%-19.4%-8.5%21.5%5.8%
Op Mgn 3Y Avg-1.7%11.8%45.7%-29.3%-15.3%20.6%5.1%
QoQ Delta Op Mgn LTM3.9%-2.0%-0.0%1.5%-3.4%-0.3%-0.2%
CFO/Rev LTM20.6%36.0%55.1%15.7%21.2%35.8%28.5%
CFO/Rev 3Y Avg27.3%38.0%50.6%6.9%12.1%34.1%30.7%
FCF/Rev LTM20.1%31.0%20.2%13.5%20.3%34.5%20.2%
FCF/Rev 3Y Avg26.6%31.1%25.3%5.0%11.5%32.5%25.9%

Valuation

TEAMNOWMSFTASANGTLBCRMMedian
NameAtlassianServiceN.MicrosoftAsana GitLab Salesfor. 
Mkt Cap52.40.14,059.62.38.4195.730.4
P/S8.00.012.22.88.04.56.2
P/Op Inc5,062.80.126.2-14.2-93.320.710.4
P/EBIT733.20.124.0-15.4-93.315.57.8
P/E-973.90.130.4-14.8-159.620.3-7.4
P/CFO38.70.022.217.637.712.419.9
Total Yield-0.1%1,168.2%4.0%-6.8%-0.6%5.7%1.9%
Dividend Yield0.0%0.0%0.7%0.0%0.0%0.8%0.0%
FCF Yield 3Y Avg4.1%2,084.2%2.2%2.0%1.8%6.0%3.2%
D/E0.058.70.00.10.00.20.1
Net D/E-0.026.3-0.0-0.0-0.10.2-0.0

Returns

TEAMNOWMSFTASANGTLBCRMMedian
NameAtlassianServiceN.MicrosoftAsana GitLab Salesfor. 
1M Rtn15.4%5.4%10.3%12.9%6.1%-3.5%8.2%
3M Rtn132.8%33.2%42.3%32.7%51.2%42.7%42.5%
6M Rtn247.3%59.1%39.6%80.3%148.3%39.9%69.7%
12M Rtn38.8%-24.4%7.2%-30.6%12.8%-3.2%2.0%
3Y Rtn10.1%27.0%70.7%-43.7%9.1%18.9%14.5%
1M Excs Rtn5.1%-4.4%5.7%0.0%-1.1%-10.3%-0.6%
3M Excs Rtn122.9%30.2%35.3%28.2%48.9%40.1%37.7%
6M Excs Rtn235.2%46.9%27.5%68.2%136.7%27.9%57.6%
12M Excs Rtn24.3%-40.7%-11.4%-46.6%-6.6%-19.6%-15.5%
3Y Excs Rtn-76.9%-57.3%-10.7%-123.5%-70.5%-64.1%-67.3%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment5,2154,3593,5352,803 
Maintenance    523
Other    242
Subscription    1,324
Total5,2154,3593,5352,8032,089


Price Behavior

Price Behavior
Market Price$208.04 
Market Cap ($ Bil)52.6 
First Trading Date12/10/2015 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$178.07$113.74
DMA Trendupup
Distance from DMA16.8%82.9%
 3M1YR
Volatility92.2%78.4%
Downside Capture19.15123.04
Upside Capture466.49140.33
Correlation (S&P 500)17.6%12.7%
TEAM Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta1.253.071.350.630.761.29
Up Beta3.690.79-1.44-1.210.041.15
Down Beta0.670.36-0.510.530.521.52
Up Capture82%708%584%278%103%124%
Bmk +ve Days6162766132424
Stock +ve Days11254065121366
Down Capture162%68%-39%4%108%108%
Bmk -ve Days16263760120328
Stock -ve Days11172461131385

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with TEAM
TEAM44.1%78.4%0.77-
Sector ETF (XLK)41.8%26.2%1.299.5%
Equity (SPY)20.2%12.7%1.1612.6%
Gold (GLD)3.4%29.5%0.11-2.0%
Commodities (DBC)52.0%20.7%1.90-8.3%
Real Estate (VNQ)7.4%13.7%0.26-1.8%
Bitcoin (BTCUSD)-27.7%43.7%-0.6212.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with TEAM
TEAM-12.6%63.7%0.04-
Sector ETF (XLK)22.1%25.9%0.7543.7%
Equity (SPY)13.9%17.1%0.6245.6%
Gold (GLD)18.3%18.9%0.782.1%
Commodities (DBC)9.7%19.5%0.384.3%
Real Estate (VNQ)1.5%18.8%-0.0332.5%
Bitcoin (BTCUSD)9.7%51.9%0.3724.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with TEAM
TEAM21.2%53.8%0.57-
Sector ETF (XLK)24.7%25.0%0.8944.9%
Equity (SPY)15.5%17.9%0.7341.3%
Gold (GLD)11.8%16.4%0.583.4%
Commodities (DBC)8.3%18.1%0.376.1%
Real Estate (VNQ)4.8%20.7%0.1926.0%
Bitcoin (BTCUSD)63.2%66.2%1.0315.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity8.8 Mil
Short Interest: % Change Since 9152026-8.4%
Average Daily Volume3.3 Mil
Days-to-Cover Short Interest2.7 days
Basic Shares Quantity252.8 Mil
Short % of Basic Shares3.5%

Earnings Returns History

Updated 9/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/202635.3%50.7%72.1%
4/30/202629.6%34.7%69.0%
2/5/2026-3.7%-12.1%-16.6%
10/30/20255.4%-2.8%-4.2%
8/7/2025-1.7%-3.9%1.0%
5/1/2025-9.0%-9.1%-10.2%
1/30/202514.9%19.5%2.7%
10/31/202419.0%24.1%41.0%
...
SUMMARY STATS   
# Positive658
# Negative10118
Median Positive18.1%24.1%21.3%
Median Negative-9.3%-9.1%-12.6%
Max Positive35.3%50.7%72.1%
Max Negative-29.0%-19.9%-23.3%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/202635.3%50.7%72.1%
4/30/202629.6%34.7%69.0%
2/5/2026-3.7%-12.1%-16.6%
10/30/20255.4%-2.8%-4.2%
8/7/2025-1.7%-3.9%1.0%
5/1/2025-9.0%-9.1%-10.2%
1/30/202514.9%19.5%2.7%
10/31/202419.0%24.1%41.0%
8/1/2024-17.1%-19.9%-4.4%
4/25/2024-9.6%-7.5%-14.9%
2/1/2024-14.7%-16.7%-18.6%
11/2/2023-2.5%-5.8%7.2%
8/3/202317.2%16.4%20.5%
5/4/2023-9.5%-9.6%22.1%
2/2/2023-7.2%-6.2%-3.4%
11/3/2022-29.0%-19.1%-23.3%
SUMMARY STATS   
# Positive658
# Negative10118
Median Positive18.1%24.1%21.3%
Median Negative-9.3%-9.1%-12.6%
Max Positive35.3%50.7%72.1%
Max Negative-29.0%-19.9%-23.3%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/14/202610-K
03/31/202605/01/202610-Q
12/31/202502/06/202610-Q
09/30/202510/31/202510-Q
06/30/202508/15/202510-K
03/31/202505/02/202510-Q
12/31/202401/31/202510-Q
09/30/202411/01/202410-Q
06/30/202408/16/202410-K
03/31/202404/26/202410-Q
12/31/202302/02/202410-Q
09/30/202311/03/202310-Q
06/30/202308/18/202310-K
03/31/202305/05/202310-Q
12/31/202202/03/202310-Q
09/30/202211/04/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/14/202610-K
03/31/202605/01/202610-Q
12/31/202502/06/202610-Q
09/30/202510/31/202510-Q
06/30/202508/15/202510-K
03/31/202505/02/202510-Q
12/31/202401/31/202510-Q
09/30/202411/01/202410-Q
06/30/202408/16/202410-K
03/31/202404/26/202410-Q
12/31/202302/02/202410-Q
09/30/202311/03/202310-Q
06/30/202308/18/202310-K
03/31/202305/05/202310-Q
12/31/202202/03/202310-Q
09/30/202211/04/202210-Q
06/30/202208/19/202220-F
03/31/202204/29/20226-K
12/31/202101/28/20226-K
09/30/202110/29/20216-K
06/30/202108/13/202120-F
03/31/202104/30/20216-K
12/31/202001/29/20216-K
09/30/202011/03/20206-K
06/30/202008/14/202020-F
03/31/202005/01/20206-K
12/31/201901/28/20206-K
09/30/201910/25/20196-K

Recent Forward Guidance

Updated 10/4/2026

Latest: Q4 2026 Earnings Reported 8/6/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2027 RevenueReported1.71 Bil1.71 Bil1.72 Bil3.2% Higher NewGuidance: 1.66 Bil for Q4 2026
Q1 2027 Cloud Revenue GrowthReported 28.5%  3.0%Higher NewGuidance: 25.5% for Q4 2026
Q1 2027 Data Center Revenue GrowthReported -4.0%  -12.5%Lower NewGuidance: 8.5% for Q4 2026
Q1 2027 Marketplace and other revenue growthReported 12.5%  6.0%Higher NewGuidance: 6.5% for Q4 2026
Q1 2027 Gross margin (GAAP)Reported 85.0%  -0.5%Lower NewGuidance: 85.5% for Q4 2026
Q1 2027 Gross margin (non-GAAP)Reported 87.0%  -1.0%Lower NewGuidance: 88.0% for Q4 2026
Q1 2027 Operating margin (GAAP)Reported 6.5%  2.0%Higher NewGuidance: 4.5% for Q4 2026
Q1 2027 Operating margin (non-GAAP)Reported 28.5%  -2.0%Lower NewGuidance: 30.5% for Q4 2026
2027 Subscription ARR growthReported 18.0%    
2027 Total revenue growthReported 13.0%  -11.0%Lower NewGuidance: 24.0% for 2026
2027 Cloud revenue growthReported 25.5%  -1.0%Lower NewGuidance: 26.5% for 2026
2027 Data Center revenue growthReported -17.0%  -38.5%Lower NewGuidance: 21.5% for 2026
2027 Marketplace and other revenue growthReported 12.0%  5.5%Higher NewGuidance: 6.5% for 2026
2027 Gross margin (GAAP)Reported 84.5%  0.0%Same NewGuidance: 84.5% for 2026
2027 Gross margin (non-GAAP)Reported 86.5%  -1.5%Lower NewGuidance: 88.0% for 2026
2027 Operating margin (GAAP)Reported 4.5%  6.5%Higher NewGuidance: -2.0% for 2026
2027 Operating margin (non-GAAP)Reported 25.0%  -4.0%Lower NewGuidance: 29.0% for 2026


Prior: Q3 2026 Earnings Reported 4/30/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2026 Total RevenueReported1.65 Bil1.66 Bil1.66 Bil-2.1% LoweredGuidance: 1.69 Bil for Q3 2026
Q4 2026 Cloud Revenue GrowthReported 25.5%  2.5%RaisedGuidance: 23.0% for Q3 2026
Q4 2026 Data Center Revenue GrowthReported 8.5%  -25.0%LoweredGuidance: 33.5% for Q3 2026
Q4 2026 Marketplace and Other Revenue GrowthReported 6.5%  1.5%RaisedGuidance: 5.0% for Q3 2026
Q4 2026 Gross Margin (GAAP)Reported 85.5%  0.0%AffirmedGuidance: 85.5% for Q3 2026
Q4 2026 Gross Margin (Non-GAAP)Reported 88.0%  0.0%AffirmedGuidance: 88.0% for Q3 2026
Q4 2026 Operating Margin (GAAP)Reported 4.5%  4.5%RaisedGuidance: 0.0% for Q3 2026
Q4 2026 Operating Margin (Non-GAAP)Reported 30.5%  3.0%RaisedGuidance: 27.5% for Q3 2026
2026 Total Revenue GrowthReported 24.0%  2.0%RaisedGuidance: 22.0% for 2026
2026 Cloud Revenue GrowthReported 26.5%  2.2%RaisedGuidance: 24.3% for 2026
2026 Data Center Revenue GrowthReported 21.5%  1.5%RaisedGuidance: 20.0% for 2026
2026 Marketplace and Other Revenue GrowthReported 6.5%  0.5%RaisedGuidance: 6.0% for 2026
2026 Gross Margin (GAAP)Reported 84.5%  0.5%RaisedGuidance: 84.0% for 2026
2026 Gross Margin (Non-GAAP)Reported 88.0%  1.0%RaisedGuidance: 87.0% for 2026
2026 Operating Margin (GAAP)Reported -2.0%  1.0%RaisedGuidance: -3.0% for 2026
2026 Operating Margin (Non-GAAP)Reported 29.0%  3.5%RaisedGuidance: 25.5% for 2026

Q2 2026 Earnings Reported 2/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2026 RevenueReported1.69 Bil1.69 Bil1.70 Bil   
Q3 2026 Cloud Revenue GrowthReported 23.0%    
Q3 2026 Data Center Revenue GrowthReported 33.5%    
Q3 2026 Marketplace and other revenue growthReported 5.0%    
Q3 2026 Gross Margin (GAAP)Reported 85.5%    
Q3 2026 Gross Margin (Non-GAAP)Reported 88.0%    
Q3 2026 Operating Margin (GAAP)Reported 0.0%    
Q3 2026 Operating Margin (Non-GAAP)Reported 27.5%    
2026 Revenue GrowthReported 22.0%  1.2%RaisedGuidance: 20.8% for 2026
2026 Cloud Revenue GrowthReported 24.3%  1.8%RaisedGuidance: 22.5% for 2026
2026 Data Center Revenue GrowthReported 20.0%  0.0%AffirmedGuidance: 20.0% for 2026
2026 Marketplace and other revenue growthReported 6.0%  1.0%RaisedGuidance: 5.0% for 2026
2026 Gross Margin (GAAP)Reported 84.0%    
2026 Gross Margin (Non-GAAP)Reported 87.0%    
2026 Operating Margin (GAAP)Reported -3.0%    
2026 Operating Margin (Non-GAAP)Reported 25.5%    

Q1 2026 Earnings Reported 10/30/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Total RevenueReported1.53 Bil1.54 Bil1.54 Bil   
Q2 2026 Cloud Revenue GrowthReported 22.5%  0AffirmedGuidance: 22.5% for Q1 2026
Q2 2026 Data Center Revenue GrowthReported 17.0%  9.0%Higher NewGuidance: 8.0% for Q1 2026
Q2 2026 Marketplace and other revenue growthReported 2.0%  -9.5%Lower NewGuidance: 11.5% for Q1 2026
2026 Total Revenue GrowthReported 20.8%  2.8%RaisedGuidance: 18.0% for 2026
2026 Cloud Revenue GrowthReported 22.5%  1.5%RaisedGuidance: 21.0% for 2026
2026 Data Center Revenue GrowthReported 20.0%  7.5%RaisedGuidance: 12.5% for 2026
2026 Marketplace and other revenue growthReported 5.0%  -5.0%LoweredGuidance: 10.0% for 2026

Insider Activity

Updated 10/13/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Liu, GeneChief Accounting OfficerDirectSell10132026210.0033770,77011,661,510Form
2Liu, GeneChief Accounting OfficerDirectSell8312026190.00939178,41010,614,920Form
3Chuong, JamesChief Financial OfficerDirectSell8202026172.459,0541,561,37748,151,607Form
4Duffy, BrianChief Revenue OfficerDirectSell8202026172.451,851319,20437,632,408Form
5Liu, GeneChief Accounting OfficerDirectSell8202026175.001,125196,8759,941,225Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Liu, GeneChief Accounting OfficerDirectSell10132026210.0033770,77011,661,510Form
2Liu, GeneChief Accounting OfficerDirectSell8312026190.00939178,41010,614,920Form
3Chuong, JamesChief Financial OfficerDirectSell8202026172.459,0541,561,37748,151,607Form
4Duffy, BrianChief Revenue OfficerDirectSell8202026172.451,851319,20437,632,408Form
5Liu, GeneChief Accounting OfficerDirectSell8202026175.001,125196,8759,941,225Form
6Duffy, BrianChief Revenue OfficerDirectSell8172026163.007,6171,241,55235,871,524Form
7Liu, GeneChief Accounting OfficerDirectSell8172026163.00815132,8459,442,891Form
8Liu, GeneChief Accounting OfficerDirectSell8172026165.00737121,6059,693,255Form
9Duffy, BrianChief Revenue OfficerDirectSell612202689.713,000269,13020,426,160Form
10Duffy, BrianChief Revenue OfficerDirectSell612202688.791,432127,14720,483,054Form
11Duffy, BrianChief Revenue OfficerDirectSell612202692.791,813168,22821,538,693Form
12Duffy, BrianChief Revenue OfficerDirectSell609202695.351,454138,63922,305,798Form
13Duffy, BrianChief Revenue OfficerDirectSell609202698.031,451142,24223,075,282Form
14Chuong, JamesChief Financial OfficerDirectSell521202687.758,838775,51325,295,168Form
15Duffy, BrianChief Revenue OfficerDirectSell520202687.751,986174,26320,781,827Form
16Liu, GeneChief Accounting OfficerDirectSell520202687.71675,8775,217,531Form
17Duffy, BrianChief Revenue OfficerDirectSell515202680.827,017567,10819,301,793Form
18Liu, GeneChief Accounting OfficerDirectSell515202680.8280364,8994,812,932Form
19Duffy, BrianChief Revenue OfficerDirectSell220202681.351,22299,41010,114,451Form
20Liu, GeneChief Accounting OfficerDirectSell220202681.36665,3704,910,218Form
21Rajan, Rajeev BashyamChief Technology OfficerDirectSell220202681.353,072249,90717,320,707Form
22Binz, Joseph LeoChief Financial OfficerDirectSell220202681.351,653134,47116,972,681Form
23Liu, GeneChief Accounting OfficerDirectSell218202681.8090874,2744,942,315Form
24Duffy, BrianChief Revenue OfficerDirectSell218202681.8098280,32910,270,473Form
25Rajan, Rajeev BashyamChief Technology OfficerDirectSell218202681.804,009327,93617,667,803Form
26Binz, Joseph LeoChief Financial OfficerDirectSell218202681.802,949241,22917,201,962Form
27Farquhar, ScottSee FootnoteSell206202694.817,665726,71626,161,764Form
28Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell206202694.817,665726,71626,161,764Form
29Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell2062026102.287,665783,97029,006,905Form
30Farquhar, ScottSee FootnoteSell2062026102.287,665783,97129,006,933Form
31Farquhar, ScottSee FootnoteSell2042026104.047,665797,46231,101,010Form
32Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell2042026104.047,665797,45931,100,918Form
33Farquhar, ScottSee FootnoteSell2022026119.157,665913,31237,445,795Form
34Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell2022026119.157,665913,31137,445,766Form
35Farquhar, ScottSee FootnoteSell1302026118.977,665911,89538,299,601Form
36Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell1302026118.977,665911,89538,299,578Form
37Farquhar, ScottSee FootnoteSell1282026133.307,6651,021,72744,955,977Form
38Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell1282026133.307,6651,021,72644,955,933Form
39Farquhar, ScottSee FootnoteSell1262026130.857,6651,002,96246,136,262Form
40Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell1262026130.857,6651,002,96146,136,224Form
41Farquhar, ScottSee FootnoteSell1232026126.117,665966,64145,432,132Form
42Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell1232026126.117,665966,64045,432,103Form
43Farquhar, ScottSee FootnoteSell1212026118.197,665905,91644,389,865Form
44Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell1212026118.197,665905,91644,389,865Form
45Farquhar, ScottSee FootnoteSell1162026120.827,665926,05746,302,828Form
46Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell1162026120.827,665926,05546,302,736Form
47Farquhar, ScottSee FootnoteSell1162026130.817,6651,002,65351,135,312Form
48Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell1162026130.817,6651,002,65251,135,229Form
49Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell1132026147.157,6651,127,89360,906,231Form
50Farquhar, ScottSee FootnoteSell1132026147.157,6651,127,89560,906,355Form
51Farquhar, ScottSee FootnoteSell1122026145.917,6651,118,42761,513,499Form
52Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell1122026145.917,6651,118,42761,513,491Form
53Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell1072026158.627,6651,215,81870,517,444Form
54Farquhar, ScottSee FootnoteSell1072026158.627,6651,215,81870,517,469Form
55Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell1062026154.207,6651,181,96969,736,152Form
56Farquhar, ScottSee FootnoteSell1062026154.207,6651,181,97069,736,237Form
57Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell1052026156.157,6651,196,85971,811,555Form
58Farquhar, ScottSee FootnoteSell1052026156.157,6651,196,86071,811,618Form
59Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12312025162.687,665  Form
60Farquhar, ScottSee FootnoteSell12312025162.687,665  Form
61Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12312025163.507,6651,253,2641,253,264Form
62Farquhar, ScottSee FootnoteSell12312025163.507,6651,253,2651,253,265Form
63Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12302025163.667,6651,254,4402,508,880Form
64Farquhar, ScottSee FootnoteSell12302025163.667,6651,254,4412,508,882Form
65Farquhar, ScottSee FootnoteSell12292025162.537,6651,245,8213,737,462Form
66Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12292025162.537,6651,245,8203,737,460Form
67Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12292025161.037,6651,234,3274,937,309Form
68Farquhar, ScottSee FootnoteSell12292025161.037,6651,234,3284,937,312Form
69Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12232025161.307,6651,236,3466,181,729Form
70Farquhar, ScottSee FootnoteSell12232025161.307,6651,236,3476,181,734Form
71Farquhar, ScottSee FootnoteSell12232025164.117,6651,257,9147,547,484Form
72Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12232025164.117,6651,257,9137,547,477Form
73Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12232025162.407,6651,244,8028,713,612Form
74Farquhar, ScottSee FootnoteSell12232025162.407,6651,244,8048,713,628Form
75Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12192025164.817,6651,263,29010,106,320Form
76Farquhar, ScottSee FootnoteSell12192025164.817,6651,263,29010,106,321Form
77Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12182025163.167,6651,250,63111,255,681Form
78Farquhar, ScottSee FootnoteSell12182025163.167,6651,250,63411,255,702Form
79Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12172025160.427,6651,229,60012,295,997Form
80Farquhar, ScottSee FootnoteSell12172025160.427,6651,229,60212,296,023Form
81Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12162025158.927,6651,218,09213,399,014Form
82Farquhar, ScottSee FootnoteSell12162025158.927,6651,218,09313,399,028Form
83Brown, Shona LSee FootnoteSell12152025163.0052886,0645,950,804Form
84Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12152025162.117,6651,242,61014,911,314Form
85Farquhar, ScottSee FootnoteSell12152025162.117,6651,242,61014,911,315Form
86Farquhar, ScottSee FootnoteSell12122025163.077,6651,249,93916,249,202Form
87Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12122025163.077,6651,249,93816,249,197Form
88Farquhar, ScottSee FootnoteSell12112025161.797,6651,240,12517,361,752Form
89Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12112025161.797,6651,240,12317,361,726Form
90Farquhar, ScottSee FootnoteSell12102025161.137,6651,235,05518,525,820Form
91Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12102025161.137,6651,235,05318,525,798Form
92Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12092025160.707,6651,231,76519,708,236Form
93Farquhar, ScottSee FootnoteSell12092025160.707,6651,231,76519,708,247Form
94Farquhar, ScottSee FootnoteSell12082025160.487,6651,230,09120,911,540Form
95Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12082025160.487,6651,230,09020,911,536Form
96Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12052025155.707,6651,193,45221,482,133Form
97Farquhar, ScottSee FootnoteSell12052025155.707,6651,193,45321,482,150Form
98Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12042025155.087,6651,188,65822,584,507Form
99Farquhar, ScottSee FootnoteSell12042025155.087,6651,188,65922,584,514Form
100Farquhar, ScottSee FootnoteSell12032025154.547,6651,184,53023,690,597Form
101Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12032025154.547,6651,184,52923,690,573Form
102Belsky, ScottSee FootnoteBuy12022025148.031,672247,506913,197Form
103Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12022025152.047,6651,165,39924,473,373Form
104Farquhar, ScottSee FootnoteSell12022025152.047,6651,165,39924,473,382Form
105Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell12012025150.127,6651,150,69825,315,354Form
106Farquhar, ScottSee FootnoteSell12012025150.127,6651,150,70025,315,397Form
107Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11262025148.297,6651,136,61126,142,048Form
108Farquhar, ScottSee FootnoteSell11262025148.297,6651,136,61126,142,062Form
109Farquhar, ScottSee FootnoteSell11262025149.207,6651,143,61327,446,721Form
110Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11262025149.207,6651,143,61227,446,689Form
111Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11252025146.627,6651,123,83628,095,889Form
112Farquhar, ScottSee FootnoteSell11252025146.627,6651,123,83628,095,889Form
113Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11242025144.027,6651,103,92928,702,166Form
114Farquhar, ScottSee FootnoteSell11242025144.027,6651,103,93228,702,221Form
115Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11212025145.537,6651,115,45230,117,210Form
116Farquhar, ScottSee FootnoteSell11212025145.537,6651,115,45330,117,228Form
117Liu, GeneChief Accounting OfficerDirectSell11202025147.449213,5658,562,027Form
118Rajan, Rajeev BashyamChief Technology OfficerDirectSell11202025147.463,017444,89632,441,403Form
119Binz, Joseph LeoChief Financial OfficerDirectSell11202025147.461,710252,16131,445,106Form
120Duffy, BrianChief Revenue OfficerDirectSell11202025147.461,940286,07918,659,399Form
121Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11202025147.637,6651,131,56931,683,921Form
122Farquhar, ScottSee FootnoteSell11202025147.637,6651,131,57031,683,952Form
123Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11192025147.667,6651,131,84132,823,400Form
124Farquhar, ScottSee FootnoteSell11192025147.667,6651,131,84332,823,457Form
125Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11182025147.417,6651,129,89233,896,771Form
126Farquhar, ScottSee FootnoteSell11182025147.417,6651,129,89333,896,793Form
127Binz, Joseph LeoChief Financial OfficerDirectSell11172025152.464,531690,77832,770,551Form
128Bharadwaj, AnuttharaPresidentDirectSell11172025152.469,8471,501,23536,908,406Form
129Rajan, Rajeev BashyamChief Technology OfficerDirectSell11172025152.465,652861,68133,999,809Form
130Liu, GeneChief Accounting OfficerDirectSell11172025152.451,044159,1618,867,124Form
131Duffy, BrianChief Revenue OfficerDirectSell11172025152.461,468223,80619,586,965Form
132Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11172025152.517,6651,168,97836,238,323Form
133Farquhar, ScottSee FootnoteSell11172025152.517,6651,168,98036,238,384Form
134Farquhar, ScottSee FootnoteSell11142025153.777,6651,178,67937,717,714Form
135Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11142025153.777,6651,178,67737,717,651Form
136Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11132025154.977,6651,187,85239,199,103Form
137Farquhar, ScottSee FootnoteSell11132025154.977,6651,187,85339,199,148Form
138Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11122025160.307,6651,228,73141,776,852Form
139Farquhar, ScottSee FootnoteSell11122025160.307,6651,228,73641,777,020Form
140Farquhar, ScottSee FootnoteSell11102025158.007,6651,211,06442,387,242Form
141Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11102025158.007,6651,211,06242,387,175Form
142Farquhar, ScottSee FootnoteSell11102025155.587,6651,192,50142,930,036Form
143Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11102025155.587,6651,192,50042,929,986Form
144Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11072025155.887,6651,194,83144,208,748Form
145Farquhar, ScottSee FootnoteSell11072025155.887,6651,194,83344,208,822Form
146Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11062025162.667,6651,246,79147,378,072Form
147Farquhar, ScottSee FootnoteSell11062025162.667,6651,246,79347,378,152Form
148Farquhar, ScottSee FootnoteSell11052025165.247,6651,266,59949,397,364Form
149Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11052025165.247,6651,266,59149,397,068Form
150Belsky, ScottSee FootnoteBuy11042025169.991,476250,905764,445Form
151Farquhar, ScottSee FootnoteSell11042025172.797,6651,324,39752,975,891Form
152Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11042025172.787,6651,324,39252,975,667Form
153Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell11032025167.617,6651,284,76152,675,220Form
154Farquhar, ScottSee FootnoteSell11032025167.617,6651,284,76352,675,282Form
155Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10312025161.757,6651,239,81352,072,163Form
156Farquhar, ScottSee FootnoteSell10312025161.757,6651,239,81552,072,245Form
157Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10302025160.407,6651,229,50352,868,630Form
158Farquhar, ScottSee FootnoteSell10302025160.417,6651,229,50452,868,693Form
159Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10302025163.677,6651,254,50955,198,397Form
160Farquhar, ScottSee FootnoteSell10302025163.677,6651,254,51055,198,434Form
161Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10282025165.037,6651,264,96356,923,330Form
162Farquhar, ScottSee FootnoteSell10282025165.037,6651,264,96456,923,362Form
163Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10272025164.507,6651,260,91758,002,169Form
164Farquhar, ScottSee FootnoteSell10272025164.507,6651,260,91858,002,242Form
165Farquhar, ScottSee FootnoteSell10242025164.817,6651,263,23559,372,049Form
166Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10242025164.817,6651,263,23459,372,013Form
167Farquhar, ScottSee FootnoteSell10232025169.167,6651,296,64462,238,918Form
168Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10232025169.167,6651,296,64462,238,889Form
169Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10222025165.767,6651,270,56462,257,650Form
170Farquhar, ScottSee FootnoteSell10222025165.767,6651,270,56462,257,650Form
171Farquhar, ScottSee FootnoteSell10202025157.287,6651,205,58060,279,010Form
172Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10202025157.287,6651,205,57960,278,937Form
173Farquhar, ScottSee FootnoteSell10202025151.217,6651,159,00959,109,467Form
174Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10202025151.217,6651,159,00859,109,420Form
175Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10172025151.357,6651,160,11960,326,182Form
176Farquhar, ScottSee FootnoteSell10172025151.357,6651,160,12060,326,221Form
177Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10162025151.837,6651,163,77261,679,922Form
178Farquhar, ScottSee FootnoteSell10162025151.837,6651,163,77561,680,094Form
179Farquhar, ScottSee FootnoteSell10152025153.607,6651,177,32363,575,462Form
180Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10152025153.607,6651,177,32263,575,387Form
181Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10142025147.817,6651,132,96862,313,228Form
182Farquhar, ScottSee FootnoteSell10142025147.817,6651,132,96962,313,288Form
183Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10102025145.857,6651,117,94962,605,121Form
184Farquhar, ScottSee FootnoteSell10102025145.857,6651,117,94962,605,131Form
185Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10102025148.547,6651,138,58164,899,121Form
186Farquhar, ScottSee FootnoteSell10102025148.547,6651,138,58164,899,129Form
187Farquhar, ScottSee FootnoteSell10092025150.937,6651,156,86167,097,944Form
188Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10092025150.937,6651,156,86167,097,936Form
189Farquhar, ScottSee FootnoteSell10082025148.037,6651,134,64066,943,769Form
190Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10082025148.037,6651,134,64066,943,752Form
191Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10072025150.757,6651,155,51769,330,999Form
192Farquhar, ScottSee FootnoteSell10072025150.757,6651,155,51769,331,021Form
193Farquhar, ScottSee FootnoteSell10062025150.867,6651,156,32470,535,772Form
194Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10062025150.867,6651,156,32370,535,705Form
195Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10032025150.617,6651,154,40871,573,281Form
196Farquhar, ScottSee FootnoteSell10032025150.617,6651,154,40871,573,327Form
197Belsky, ScottSee FootnoteBuy10022025153.101,566239,752462,510Form
198Farquhar, ScottSee FootnoteSell10022025152.507,6651,168,92173,642,001Form
199Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell10022025152.507,6651,168,92073,641,953Form
200Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell9302025159.617,665  Form
201Farquhar, ScottSee FootnoteSell9302025159.617,665  Form
202Farquhar, ScottSee FootnoteSell9302025166.367,6651,275,1591,275,159Form
203Cannon-Brookes, MichaelCEO, Co-FounderSee FootnoteSell9302025166.367,6651,275,1571,275,157Form

Investor Activity (13F)

Updated Oct 14, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Voyager Global Management LP$262.8 Mil8.9%8ADD +185.2%13F
Capco Asset Management, LLC$11.9 Mil3.2%27ADD +215.4%13F
Optimus Prime Fund Management Co., Ltd.$25.8 Mil2.5%27ADD +371.9%13F
Loews Corp$50.5 Mil0.4%25ADD +640.0%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Loews Corp$50.5 Mil0.4%25ADD +640.0%13F
Optimus Prime Fund Management Co., Ltd.$25.8 Mil2.5%27ADD +371.9%13F
Capco Asset Management, LLC$11.9 Mil3.2%27ADD +215.4%13F
Voyager Global Management LP$262.8 Mil8.9%8ADD +185.2%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Atreides Management, LP$64.6 Mil1.4%49Exited13F
Anomaly Capital Management, LP$22.6 Mil0.8%32Exited13F
Glynn Capital Management LLC$10.8 Mil3.7%37Exited13F
Benchstone Capital Management LP$10.7 Mil1.2%43Exited13F
Light Street Capital Management, LLC$10.3 Mil1.6%24Exited13F
Tensor Edge Capital, LLC$5.0 Mil1.9%13Exited13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Voyager Global Management LP$262.8 Mil8.9%8ADD +185.2%13F
Loews Corp$50.5 Mil0.4%25ADD +640.0%13F
Optimus Prime Fund Management Co., Ltd.$25.8 Mil2.5%27ADD +371.9%13F
Capco Asset Management, LLC$11.9 Mil3.2%27ADD +215.4%13F
Core Cache Last Updated: 10/13/2026