We break down the stocks Neil Mehta (Greenoaks) bought, sold, and held in Q1 2024, including their holdings at the end of the quarter. All data sourced from Greenoaks' 13F filed on May 15, 2024.
Who are Neil Mehta and Greenoaks?
Greenoaks is a concentrated investment firm founded in 2012 by Neil Mehta, a former Benchmark partner. The firm maintains the conviction that only a small handful of companies truly define each generation. With approximately $7 billion under management, Greenoaks employs a high-conviction, research-intensive approach to identify these exceptional businesses across both private and public markets. Mehta's strategy involves building deep partnerships with intensely focused management teams and maintaining positions for decades as these companies execute their long-term vision.
Greenoaks.com
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Portfolio Changes in Q1 2024
New positions
Greenoaks initiated a new position in Klaviyo (KVYO), purchasing 2.5 million shares valued at $64.0 million.
Bought
Greenoaks added to its position in Procore Technologies (PCOR), increasing holdings by 12,782 shares, which represented a modest increase from their existing stake.
Sold
Greenoaks trimmed multiple existing positions during the quarter, with the largest reduction being 400,000 shares of Toast (TOST), followed by significant trims in Upwork (UPWK) (220,007 shares), DoorDash (DASH) (70,000 shares), New York Times (NYT) (28,978 shares), Carvana (CVNA) (25,000 shares), and Amazon (AMZN) (15,000 shares).
New Investments in Q1 2024
| Ticker | Company | Weight | Change | Value |
|---|---|---|---|---|
| KVYO | Klaviyo | 100.0% | NEW | $64M |
Klaviyo KVYO
Neil Mehta bought $64M of Klaviyo in Q1 2024. Klaviyo demonstrated strong performance in Q1 2025 with $279.8 million revenue (33% YoY growth), beating estimates by $22.55 million, while maintaining a 76% gross margin. The stock surged 6.84% post-earnings due to accelerating international expansion and enterprise customer acquisition. Recent execution shows improved operational efficiency with 12% non-GAAP operating margin, positioning the company for sustained growth in marketing automation.
- Q1 revenue growth accelerated to 33% YoY vs 32% in Q4 2024.
- Enterprise customers ($50k+ ARR) grew 40% YoY, now representing 35% of total revenue.
- Stock has gained 18.7% since last quarterly earnings release (Feb 2025).
Holdings at the end of Q1 2024
| Ticker | Company | Weight | Change | Value |
|---|---|---|---|---|
| CVNA | Carvana | 43.6% | Trimmed (-0%) | $528.78M |
| TOST | Toast | 17.3% | Trimmed (-5%) | $210.36M |
| CPNG | Coupang | 13.1% | $159M | |
| KVYO | Klaviyo | 5.3% | NEW | $64M |
| AMZN | Amazon | 3.9% | Trimmed (-5%) | $46.9M |
| DASH | DoorDash | 3.8% | Trimmed (-17%) | $45.9M |
| SE | Sea | 3.4% | $40.66M | |
| NYT | New York Times | 2.4% | Trimmed (-4%) | $29.43M |
| CART | Maplebear | 2.3% | $28.29M | |
| SNOW | Snowflake | 2.3% | $27.47M | |
| PCOR | Procore Technologies | 1.3% | Added (+7%) | $16.12M |
| UPWK | Upwork | 1.1% | Trimmed (-17%) | $12.97M |
| Z | Zillow Group | 0.1% | $1.44M | |
| ZG | Zillow | 0.1% | $1.34M | |
| SOND | Sonder | 0.0% | $148.31K |
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