We break down the stocks Neil Mehta (Greenoaks) bought, sold, and held in Q4 2024, including their holdings at the end of the quarter. All data sourced from Greenoaks' 13F filed on February 14, 2025.
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 Q4 2024
New positions
Greenoaks initiated a new position in ServiceTitan (TTAN), purchasing 723,030 shares worth $74.4 million.
Bought
Greenoaks added to their existing position in Coupang (CPNG), increasing their stake by 2.25 million shares, bringing the total position value to $305 million.
Sold
Greenoaks made significant reductions across multiple holdings, most notably trimming their Toast (TOST) position by 6.1 million shares (reducing value from $233M to $78M) and their Procore Technologies (PCOR) stake by 399,000 shares. The firm also completely liquidated four positions: Sea (SE) ($71M), Maplebear (CART) ($25M), New York Times (NYT) ($2M), and Sonder (SOND) ($234K), while making smaller trims to DoorDash (DASH) and Carvana (CVNA).
New Investments in Q4 2024
| Ticker | Company | Weight | Change | Value |
|---|---|---|---|---|
| TTAN | ServiceTitan | 100.0% | NEW | $74.38M |
ServiceTitan TTAN
Neil Mehta bought $74.38M of ServiceTitan in Q4 2024. ServiceTitan (TTAN) reported strong revenue growth but widening losses in its fiscal Q4 2025, with total revenue increasing 29% YoY to $209.3 million. The company's GAAP operating loss expanded to ($99.9) million from ($48.1) million in the prior year quarter, driven by strategic investments. Recent expansion into roofing and commercial verticals shows promise, but investors await clarity on path to profitability in the June 5 Q1 2026 earnings release.
- Q4 platform revenue grew 30% YoY to $200.1 million.
- Full FY2025 revenue increased 26% YoY to $771.9 million.
- Operating losses expanded 108% YoY in Q4 FY2025.
Holdings at the end of Q4 2024
| Ticker | Company | Weight | Change | Value |
|---|---|---|---|---|
| CVNA | Carvana | 63.0% | Trimmed (-2%) | $1.16B |
| CPNG | Coupang | 16.5% | Added (+19%) | $304.6M |
| KVYO | Klaviyo | 5.2% | $95.54M | |
| TOST | Toast | 4.2% | Trimmed (-74%) | $77.94M |
| TTAN | ServiceTitan | 4.0% | NEW | $74.38M |
| AMZN | Amazon | 3.1% | $57.04M | |
| DASH | DoorDash | 1.4% | Trimmed (-44%) | $26.55M |
| SNOW | Snowflake | 1.4% | $26.25M | |
| PCOR | Procore Technologies | 1.0% | Trimmed (-62%) | $17.99M |
| SE | Sea | 0.0% | Exited | $0 |
| CART | Maplebear | 0.0% | Exited | $0 |
| NYT | New York Times | 0.0% | Exited | $0 |
| SOND | Sonder | 0.0% | Exited | $0 |
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