Alkeon Capital Management
Alkeon Capital Management is a global investment firm led by Panayotis "Takis" Sparaggis, known for his extensive experience in growth investing. The firm manages approximately $59.50 billion in assets, focusing on long-term capital appreciation through active management of equity products. Alkeon's investment philosophy emphasizes identifying secular growth trends and innovative companies across various sectors.
AUM figures shown are calculated by summing the reported market value of all positions in SEC 13F-HR filings — not the fund's actual assets under management.
- Excludes cash, bonds, private equity, short positions, and foreign-listed stocks not required to be reported.
- For PUT and CALL options, the reported Value is the notional value of the underlying shares — not the option premium paid. This significantly overstates the actual capital at risk.
- Actual fund AUM is typically higher and includes strategies, instruments, and positions that never appear in a 13F.
- 13F filings cover institutional managers with ≥$100M in 13F securities. Positions reflect end-of-quarter holdings, disclosed up to 45 days after the period ends.
Data sourced from SEC EDGAR. This tracker is for informational purposes only and does not constitute investment advice.
Portfolio Holdings
Top 30 positions
| Ticker | Issuer | Notional | Port % | @ Filing | Now (EOD) | Since Filing | Allocation |
|---|---|---|---|---|---|---|---|
| SPYPUT | $13.66B | 22.95% | $648.67 | $746.96 | +15.2% | 22.9% | |
| QQQPUT | $12.79B | 21.49% | $576.55 | $708.48 | +22.9% | 21.5% | |
| TSM | $1.83B | 3.08% | $337.16 | $431.61 | +28.0% | 3.1% | |
| NVDACALL | $1.74B | 2.93% | $174.40 | $196.56 | +12.7% | 2.9% | |
| GOOGL | $1.45B | 2.44% | $287.39 | $367.84 | +28.0% | 2.4% | |
| TSMCALL | $1.40B | 2.36% | $337.16 | $431.61 | +28.0% | 2.4% | |
| META | $1.23B | 2.06% | $571.60 | $616.86 | +7.9% | 2.1% | |
| AMZN | $1.21B | 2.03% | $208.27 | $245.46 | +17.9% | 2.0% | |
| AAPLCALL | $921.9M | 1.55% | $253.56 | $312.13 | +23.1% | 1.6% | |
| KLAC | $855.4M | 1.44% | $147.05 | $214.80 | +46.1% | 1.4% | |
| LRCX | $833.4M | 1.40% | $213.51 | $323.45 | +51.5% | 1.4% | |
| TER | $827.0M | 1.39% | $296.35 | $338.86 | +14.3% | 1.4% | |
| QQQ | $765.2M | 1.29% | $576.55 | $708.48 | +22.9% | 1.3% | |
| AVGOCALL | $696.4M | 1.17% | $309.02 | $369.21 | +19.5% | 1.2% | |
| ADI | $657.6M | 1.11% | $318.14 | $377.82 | +18.8% | 1.1% | |
| BKNGCALL | $631.5M | 1.06% | $167.99 | $181.15 | +7.8% | 1.1% | |
| VRT | $627.0M | 1.05% | $250.53 | $303.35 | +21.1% | 1.1% | |
| SNPS | $622.2M | 1.05% | $396.48 | $436.57 | +10.1% | 1.1% | |
| APH | $583.5M | 0.98% | $126.16 | $158.13 | +25.3% | 1.0% | |
| EXPE | $571.5M | 0.96% | $230.40 | $269.17 | +16.8% | 1.0% | |
| MARCALL | $515.1M | 0.87% | $326.43 | $381.16 | +16.8% | 0.9% | |
| SHOPCALL | $474.5M | 0.80% | $118.62 | $122.01 | +2.9% | 0.8% | |
| AMZNCALL | $458.2M | 0.77% | $208.27 | $245.46 | +17.9% | 0.8% | |
| MCHPCALL | $452.3M | 0.76% | $64.29 | $83.96 | +30.6% | 0.8% | |
| CDNS | $450.9M | 0.76% | $277.87 | $369.90 | +33.1% | 0.8% | |
| TJX | $447.2M | 0.75% | $159.18 | $153.13 | -3.8% | 0.8% | |
| MSFT | $444.6M | 0.75% | $369.37 | $389.31 | +5.4% | 0.8% | |
| V | $443.9M | 0.75% | $301.61 | $351.42 | +16.5% | 0.8% | |
| MLM | $439.9M | 0.74% | $588.68 | $588.68 | +0.0% | 0.7% | |
| PLTRCALL | $438.8M | 0.74% | $146.28 | $135.16 | -7.6% | 0.7% |
Quarter-on-Quarter Activity
Q1 2026 vs. Q4 2025
New Positions (6)
| Ticker | Issuer | Notional |
|---|---|---|
| INTCCALL | $308.9M | |
| CATPUT | $283.4M | |
| ASML | $238.8M | |
| GLDCALL | $129.1M | |
| TTMI | $102.3M | |
| BABA | $62.7M |
Exited Positions (8)
| Ticker | Issuer | Notional |
|---|---|---|
| MMM | $424.3M | |
| CRM | $370.9M | |
| ORCL | $194.9M | |
| DELL | $133.7M | |
| CMI | $97.0M | |
| RDDT | $92.0M | |
| AMT | $75.2M | |
| IWM | $44.2M |
Increased (8)
| Ticker | Issuer | Notional | Shares Δ | Since Filing |
|---|---|---|---|---|
| SPYPUT | $13.57B | +15869.6% | +15.2% | |
| AAPL | $906.5M | +6314.8% | +23.1% | |
| NVDAPUT | $1.70B | +4629.5% | +12.7% | |
| TSMPUT | $1.78B | +2998.1% | +28.0% | |
| TSMPUT | $1.35B | +2271.4% | +28.0% | |
| QQQ | $11.91B | +1457.8% | +22.9% | |
| GOOGL | $1.30B | +911.7% | +28.0% | |
| TWLO | $195.9M | +636.0% |
Trimmed (8)
| Ticker | Issuer | Notional | Shares Δ | Since Filing |
|---|---|---|---|---|
| AAPL | $-645.0M | -97.7% | +23.1% | |
| TSMPUT | $-1602.1M | -97.2% | +28.0% | |
| NVDAPUT | $-1362.1M | -97.2% | +12.7% | |
| FROG | $-25.2M | -96.5% | ||
| NVDAPUT | $-1323.8M | -94.3% | +12.7% | |
| QQQ | $-12827.4M | -94.0% | +22.9% | |
| TSMPUT | $-557.1M | -92.5% | +28.0% | |
| AVGOPUT | $-317.1M | -90.5% | +19.5% |
Quarter Activity
During the quarter, Alkeon Capital Management initiated significant new positions in Intel Corp (INTC), Caterpillar Inc (CAT), and ASML Holding (ASML), reflecting a strategic diversification in their portfolio. They exited substantial holdings in 3M Co (MMM), Salesforce.com (CRM), and Oracle Corp (ORCL), indicating a shift away from these sectors. Additionally, there was a notable increase in their positions in SPDR S&P 500 ETF Trust (SPY) and Apple Inc (AAPL), while simultaneously reducing their stakes in the same companies, suggesting a rebalancing strategy.
AI Commentary
<p>Alkeon Capital Management's portfolio showcases a significant concentration in technology and semiconductor sectors, with major positions in high-profile tech stocks and ETFs. The fund's top holdings include substantial investments in the SPY and QQQ ETFs, with put options representing 22.9% and 21.5% of the portfolio respectively, indicating a defensive posture against potential declines in these indices. Notable stock holdings include Taiwan Semiconductor Manufacturing (TSM) with both regular and call options, NVIDIA Corporation (NVDA) with a call, and other tech giants like Alphabet Inc. (GOOGL), Meta Platforms Inc. (META), and Amazon.com Inc. (AMZN). The presence of KLA Corp (KLAC) further underscores the fund's focus on the semiconductor equipment sector.</p> <p>The recent quarterly adjustments suggest a strategic shift in Alkeon Capital Management's investment approach. The fund has opened new positions in Intel Corp (INTC), Caterpillar Inc (CAT), ASML Holding (ASML), and others, while closing positions in 3M Company (MMM), Salesforce (CRM), Oracle Corp (ORCL), and Dell Technologies (DELL). The significant increase in positions for SPY, AAPL, NVDA, and TSM, alongside substantial reductions in the same stocks, indicates a recalibration rather than a complete strategy overhaul. This could signal a nuanced view on tech growth prospects, balancing between direct equity exposure and hedging through options, amidst a potentially volatile market environment.</p>