SNAP

SNAP

SNAP

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q3	Sep 30, 2024	Octahedron Capital	-	-	AAPL, AMZN, CART, CPNG, DASH, DIS, GOOGL, GRAB, LYFT, META, NFLX, PINS, RDDT, ROKU, SNAP, SNOW, SPOT, UBER, WBD, WMT, YELP	AI, Cloud, Digital, E-Commerce, growth, Internet, semiconductors, technology	Generative AI is driving significant productivity improvements across software development and enterprise applications. Companies are seeing measurable ROI from AI investments, with GitHub Copilot accounting for over 40% of GitHub revenue growth and Microsoft reporting billions in AI infrastructure revenue. AI is accelerating cloud migrations and enabling new usage-based pricing models.		View
2025 Q2	Jun 30, 2025	Octahedron Capital	-	-	ABNB, AMZN, APP, BKNG, CART, CPNG, CVNA, DASH, GOOGL, GRAB, MELI, META, NFLX, PINS, RDDT, ROKU, SNAP, SNOW, UBER, W	Advertising, AI, Cloud, E-Commerce, payments, semiconductors, tariffs, Trade Policy	AI infrastructure demand remains insatiable with companies processing 480 trillion tokens monthly, up 50x year-over-year. ServiceNow expects AI products to reach $1 billion ACV by end of 2026, while companies are transitioning from seat-based to usage-based AI pricing models. AI agents are creating 4x more databases than humans, fundamentally changing software development workflows.		View
2025 Q1	Apr 8, 2025	Jacob Fund	-	-	GRAB, SNAP	Asia, E-Commerce, small caps, Social Media, tariffs, technology	Manager continues to overweight small-cap stocks across portfolios relative to benchmarks and peers, viewing the current environment as favorable for small-cap performance despite market correction concerns.	SNAP GRAB	View
2024 Q1	Apr 25, 2024	GreensKeeper Value Fund	4.7%	16.7%	AXP, BRK-A, MRK, SNAP, SPGI	financials, large cap, Pharmaceuticals, Quality, Resilience, value	GreensKeeper maintains a steadfast focus on finding high-quality businesses trading at attractive earnings multiples. The firm restricts portfolio investments to situations that check all their investment boxes, requiring obvious undervaluation relative to earnings power and prospects. They emphasize that great opportunities are rare and fleeting, requiring preparation and conviction to make sizable bets when the right price is offered.	SPGI MRK AXP BRK-B	View
2024 Q1	Apr 15, 2024	RiverPark Long/Short Opportunity Fund	0.6%	11.1%	AAPL, ADBE, AMAT, AMZN, DELL, DIS, FIVN, GOOGL, KLAC, LRCX, MA, META, MSFT, NFLX, NVDA, SMAR, SNAP, TWLO, UBER	AI, growth, large cap, Long/Short, Social Media, Streaming, technology	Performance was largely driven by AI hardware companies selling equipment into the AI space, with NVIDIA gaining 82% in the quarter. The artificial intelligence arms race kicked off by ChatGPT has generated tremendous demand for Nvidia's next generation graphic processors. The fund is excited about AI as a long-term trend and looks forward to valuation gains being more broadly spread through the AI ecosystem.	FIVN AAPL SNAP DIS META NVDA	View
2024 Q1	Apr 15, 2024	RiverPark Large Growth	3.7%	16.4%	AAPL, ADBE, AMAT, AMZN, DELL, DIS, FIVN, GOOGL, KLAC, LRCX, MA, META, MSFT, NFLX, NKE, NVDA, SNAP, UBER	AI, growth, large cap, Social Media, Streaming, technology	AI hardware companies drove Q1 performance with NVIDIA gaining 82% after adding over $1 trillion in market value. The AI arms race from ChatGPT and Bard generated tremendous demand for next-generation graphics processors. Portfolio companies implementing AI solutions like Adobe, Five9, and Alphabet underperformed despite revenue generation from AI.	NFLX UBER DIS META NVDA	View
2025 Q3	Oct 2, 2025	Rodrigo Benedetti	-	-	ABX, CLS, CONL, IJH, IREN, IWM, JOBY, MSFT, NBIS, NEM, ORCL, PLTR, RXST, SNAP, STRL, TGEN, TSSI, VRT	AI, Fed policy, Gold Miners, Long/Short, Risk Appetite, Shorts, Speculation	Manager attempted to short AI-related names believing the theme needed a rest, targeting low quality companies benefiting from datacenter capex but offering commoditizable services at high multiples. However, the market continued financing datacenter capex aggressively, forcing position closures after significant losses.		View
2022 Q3	Oct 10, 2022	RiverPark Large Growth	3.7%	16.4%	BKNG, FIVN, GOOG, INTU, NFLX, NKE, NOW, PINS, PYPL, RNG, SCHW PR D, SNAP, UBER, V, WDAY	-			View
2024 Q3	Sep 30, 2024	RiverPark Large Growth	3.7%	16.4%	AAPL, ADYEY, AMZN, BX, DIS, GOOGL, KKR, LLY, META, MSFT, NVDA, PINS, SCHW, SHOP, SNAP, UBER	AI, Cloud, E-Commerce, growth, large cap, payments, Social Media, technology	The fund has significant exposure to AI infrastructure and applications through companies like NVIDIA, Microsoft Azure, and Google Cloud. Microsoft's Azure platform alone has potential to grow to more than $200 billion in annual revenue over the next decade. Infrastructure constraints are currently limiting growth but capacity expansion is expected to drive reacceleration.		View
2024 Q2	Jun 30, 2024	RiverPark Large Growth	3.7%	16.4%	AAPL, ADYEY, AMZN, BKNG, DIS, FIVN, GOOG, META, MSFT, NFLX, NKE, NVDA, PINS, SHOP, SNAP, UBER	AI, Cloud, E-Commerce, growth, large cap, Streaming, technology	The artificial intelligence arms race kicked off by ChatGPT and Alphabet's Bard has generated tremendous demand for Nvidia's next generation graphic processors. AI advances helped improve targeting and measurement in Alphabet's advertising businesses, including in YouTube's fast growing Shorts segment. Apple stock got a boost from research reports suggesting iPhone sales may see a boost from an upgrade cycle driven by the upcoming rollout of Apple's AI assistant.		View
2023 Q1	Apr 17, 2023	SandbrooK Capital	6.0%	11.1%	AMZN, BILL, BOX, CFLT, CRM, CROX, CRWD, ESTC, ETSY, GOOS, HCP, HIMS, MSFT, NKE, RH, SNAP, SNOW, SPT, VRT, ZM	consumer, Long/Short, Macro, risk management, software, technology	Manager focused on large cap tech and growth software names, particularly beaten-up tech stocks in January. Positioned in CRM, CRWD, ZM, SNOW, BILL, AMZN, MSFT, and ESTC as top contributors. Also shorted tier 2 high growth software names where multiples had run above long-term averages.	SONO	View
2023 Q1	Mar 31, 2023	Ariel Fund	12.1%	0.0%	ADTL, AMG, APA, BOKF, BWA, GS, IPG, JLL, LESL, LMT, MAT, MHK, MOS, MSGE, ORCL, PARA, PGR, RCL, SNAP, ZBRA	Banking, Commercial real estate, energy, interest rates, Mid Caps, Regional Banks, small caps, value	Regional banks face significant challenges from deposit flight and commercial real estate exposure following Silicon Valley Bank's collapse. BOK Financial declined 18% amid banking sector stress, though managers believe it remains well-positioned with strong underwriting standards and diversified business model.		View
2023 Q4	Jan 31, 2024	RiverPark Large Growth	3.7%	16.4%	AAPL, AMZN, BX, GOOGL, ILMN, MA, META, MSFT, NFLX, SHOP, SNAP, UBER	AI, Cloud, E-Commerce, growth, large cap, Streaming, technology	Shopify continues to benefit from e-commerce growth with 25% revenue growth and 16% operating margins. The company processed 10% of US retail e-commerce sales, second only to Amazon. Management expects continued revenue growth of more than 20% per year driven by new merchants, increased adoption, and market share gains.	ARGX BB\|DAVA\|DDOG\|GLOB\|ILMN\|LOAR\|MELI\|NET\|NU\|NVDA\|TSM AAPL\|MSFT\|NFLX\|NVDA\|UNH SNAP AAPL\|MSFT\|NFLX\|NVDA\|UNH UBER SHOP	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 28, 2026	Fund Letters	RiverPark Large Growth	Snap Inc.	Communication Services	Interactive Media & Services	Bull	NYSE	digital advertising, monetization, Platform Innovation, profitability inflection, social media, turnaround, User growth	View Pitch
Apr 13, 2026	Fund Letters	RiverPark Long/Short Opportunity Fund	Snap Inc.	Communication Services	Interactive Media & Services	Bull	NYSE	digital advertising, growth, Mobile Application, monetization, social media, User growth	View Pitch
Apr 13, 2026	Fund Letters	Jacob Fund	Snap Inc.	Communication Services	Interactive Media & Services	Bull	NYSE	acquisition target, Ad platform, Cost Reduction, monetization, social media, Subscription service, technology, turnaround, user engagement	View Pitch
Jan 8, 2026	Substack	The Finance Corner	Snap Inc.	Social Media	Social Media	Bull	New York Stock Exchange	Fair value, high-margin, market cap, Memories Storage Plans, META, recurring revenue, Snap Inc., social media, storage costs, user monetization	View Pitch
Sep 19, 2025	Seeking Alpha	Seeking Alpha	Snap Inc.		Internet Content & Information	Bear		advertising revenue, augmented reality, Competition, market share, monetization, operating losses, Snapchat, social media, User growth, valuation	View Pitch
Aug 13, 2025	Seeking Alpha	Orion Investing	Snap Inc.	Communication Services	Internet Content & Information	Bull	NYSE	—	View Pitch

BSD Shareholders of SNAP

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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