- 01 Alan Breed’s Edgewood Management LLC, a $15.5B New York concentrated growth fund founded in 1974, filed its Q1 2026 13F-HR on May 14, 2026.
- 02 Edgewood’s portfolio shrank from $21.0B in Q4 2025 to $15.5B in Q1 2026, a 26% drop driven by deliberate share-count cuts across the entire top ten, not market drops.
- 03 The three largest stakes are Netflix at $1.3B (added 16% into the top spot), ASML at $1.2B (trimmed 37%), and Nvidia at $1.2B (trimmed 19%).
- 04 Edgewood is taking chips off the AI semiconductor table after a long run, leaning the portfolio toward consumer media (Netflix, Spotify, Disney), industrial software and connectivity (ServiceNow, Amphenol, Axon), and luxury consumer (Ferrari) at far smaller scale.
- 05 The Q2 2026 13F will show whether Netflix can keep its new top spot above Nvidia, whether the deep cuts to S&P Global, Blackstone, and Eli Lilly continue toward full exits, and whether any AI-power or data-center physical-infrastructure name enters the portfolio.
How Edgewood Moved Last Quarter
What to Watch
Top stake durability. Whether Netflix holds its $1.35B top spot through Q2 2026 will signal whether Edgewood is leaning into media and consumer over AI hardware, or whether the rotation reverses if streaming growth slows.
AI infrastructure trim continuation. ASML, Nvidia, Broadcom, and Synopsys were all trimmed 13% to 37% this quarter. The next 13F will show whether the trim deepens or Edgewood adds back ahead of Q3 chip earnings.
Capital redeployment from deep cuts. S&P Global was cut 60%, Blackstone 56%, and Eli Lilly 45%, freeing roughly $1.1B. Watch whether those stakes get cut to zero or rebuilt, and whether any AI-power or data-center name absorbs the freed capital.
Verified as of June 2, 2026.
Primary Filings & Announcements
Edgewood Management LLC Q1 2026 13F-HR Information Table (SEC EDGAR, accession 0001062993-26-002623, period 3/31/2026, filed May 14, 2026)
Edgewood Management LLC Q1 2026 13F-HR Filing Index (SEC EDGAR)
Edgewood Management LLC 13F-HR filing history (SEC EDGAR, CIK 0000860561)
Market Coverage
Netflix (NFLX) price and news (Yahoo Finance)
ASML Holding (ASML) price and news (Yahoo Finance)
Nvidia (NVDA) price and news (Yahoo Finance)
Background & Analysis
Edgewood Management LLC Form ADV summary (SEC Investment Adviser Public Disclosure)
Edgewood Management LLC full EDGAR filing history (SEC EDGAR)