Pathway Capital Management, L.P. 13F annual report

Pathway Capital Management, L.P. is an investment fund managing more than $107 billion ran by Stefanie Hochman. There are currently 10 companies in Mrs. Hochman’s portfolio. The largest investments include Netflix and Spotify Technology S.A, together worth $53.6 billion.

$107 billion Assets Under Management (AUM)

As of 25th April 2024, Pathway Capital Management, L.P.’s top holding is 58,307 shares of Netflix currently worth over $35.4 billion and making up 33.0% of the portfolio value. Relative to the number of outstanding shares of Netflix, Pathway Capital Management, L.P. owns more than approximately 0.1% of the company. In addition, the fund holds 68,926 shares of Spotify Technology S.A worth $18.2 billion, whose value grew 70.1% in the past six months. The third-largest holding is Nu Hldgs Ltd worth $15.7 billion and the next is Toast worth $15.4 billion, with 616,449 shares owned.

Currently, Pathway Capital Management, L.P.'s portfolio is worth at least $107 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Pathway Capital Management, L.P.

The Pathway Capital Management, L.P. office and employees reside in Irvine, California. According to the last 13-F report filed with the SEC, Stefanie Hochman serves as the Senior Vice President & Chief Compliance Officer at Pathway Capital Management, L.P..

Recent trades

In the most recent 13F filing, Pathway Capital Management, L.P. revealed that it had opened a new position in Netflix and bought 58,307 shares worth $35.4 billion. This means they effectively own approximately 0.1% of the company. Netflix makes up 97.6% of the fund's Communication Services sector allocation and has grown its share price by 73.7% in the past year.

The investment fund also strengthened its position in Confluent Inc by buying 28,615 additional shares. This makes their stake in Confluent Inc total 56,143 shares worth $1.71 billion.

On the other hand, there are companies that Pathway Capital Management, L.P. is getting rid of from its portfolio. Pathway Capital Management, L.P. closed its position in Snowflake on 2nd May 2024. It sold the previously owned 78,975 shares for $15.7 billion. Stefanie Hochman also disclosed a decreased stake in Spotify Technology S.A by 0.5%. This leaves the value of the investment at $18.2 billion and 68,926 shares.

One of the smallest hedge funds

The two most similar investment funds to Pathway Capital Management, L.P. are Northstar Asset Management nj/ and Klein Pavlis & Peasley Financial, Inc. They manage $107 billion and $107 billion respectively.

Stefanie Hochman investment strategy

Pathway Capital Management, L.P.’s portfolio is diversified across 5 sectors. Currently, their heaviest sector is Communication Services — making up 33.8% of the total portfolio value. The fund focuses on investments in the United States as 60.0% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 30% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $30.3 billion.

The complete list of Pathway Capital Management, L.P. trades based on 13F SEC filings

These positions were updated on May 2nd based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Netflix Inc.	Opened 58,307	$35,411,590,000	33.00%
Spotify Technology S.A.	52.48% 68,926	$18,189,571,000	16.95%
Nu Hldgs Ltd	Opened 1,318,765	$15,732,866,000	14.66%
Snowflake Inc.	Closed 78,975	$15,716,025,000
Toast, Inc.	Opened 616,449	$15,361,909,000	14.32%
Hims & Hers Health, Inc.	Opened 729,917	$11,291,816,000	10.52%
Broadcom Inc.	Closed 9,273	$10,350,986,000
Hashicorp Inc	Closed 367,964	$8,698,669,000
Braze Inc	Closed 157,649	$8,375,891,000
Mirum Pharmaceuticals Inc	Closed 190,286	$5,617,243,000
Udemy Inc	Closed 270,388	$3,982,815,000
Robinhood Mkts Inc	No change 196,535	$3,956,250,000	3.69%
Roblox Corporation	Closed 59,973	$2,741,966,000
Weave Communications, Inc.	Opened 231,637	$2,659,193,000	2.48%
Geron Corp.	Opened 636,838	$2,101,565,000	1.96%
Confluent Inc	103.95% 56,143	$1,713,484,000	1.60%
Denali Therapeutics Inc	Closed 69,450	$1,490,397,000
Scholar Rock Hldg Corp	Closed 64,873	$1,219,612,000
Airbnb, Inc.	10.11% 5,306	$875,278,000	0.82%
No transactions found
Showing first 500 out of 19 holdings