- 01 Sequoia Capital Global Equities, the public-markets affiliate of venture-capital firm Sequoia Capital, reported a $3.3 billion U.S. stock portfolio for the first quarter, a stretch in which longtime head Jeff Wang stepped down in February and a four-person team led by portfolio manager Bryce Kam took over.
- 02 The reported U.S. stock holdings shrank from $4.4 billion in December to $3.3 billion as of March 31, a 25% drop, as the fund trimmed most of its largest stakes into a falling first-quarter market.
- 03 Nvidia is still the top holding at $529 million even after a 9% trim, ahead of Alphabet at $461 million and Microsoft at $282 million, and the five largest stakes make up 53% of the U.S. portfolio.
- 04 The clear pattern is a broad pullback, lighter on every megacap and sharply lower on ASML, Snowflake and Zillow, with fresh money going into Broadcom, Credo, the cybersecurity firm Netskope and the chipmaker Sandisk.
- 05 The next 13F, due by August 14, will show whether the new leadership keeps raising cash, or whether the fresh Netskope and Sandisk bets mark the start of a rebuild.
How Sequoia Capital Global Equities Moved Last Quarter
What to watch
1. Sequoia Capital Global Equities files its next 13F by August 14, 2026, covering the new leadership team’s first full quarter in charge. It will show whether the first-quarter pullback was a one-time reset or the start of a longer move into cash.
2. The fund slashed its ASML stake 40% and cut Snowflake 33%, Zillow 37% and Meta 26% over the quarter. Whether those names keep shrinking or stabilize will signal how much of the selling was about falling prices versus lost conviction.
3. Two new bets stand out, a $93 million stake in newly public cybersecurity firm Netskope and a $40 million stake in memory-chip maker Sandisk. The next filing will show whether the team builds on them or treats them as small starter trades.
Verified as of June 14, 2026.
Primary Filings & Announcements
SEC EDGAR: SCGE Management, L.P. 13F-HR Information Table (Q1 2026, filed May 15, 2026)
SEC EDGAR: 13F-HR Filing Index, Accession 0000905148-26-002396
SEC EDGAR: SCGE Management, L.P. CIK 0001537530 Full 13F Filing History
Market Coverage
Yahoo Finance: Nvidia Quote and Performance
Yahoo Finance: Alphabet Quote and Performance
Yahoo Finance: Microsoft Quote and Performance
Background & Analysis
SEC EDGAR: SCGE Management, L.P. Full Filing History (all forms)
SEC EDGAR: Prior Quarter 13F-HR Information Table (Q4 2025, filed February 13, 2026)