Sequoia Capital Global Equities (SCGE) is the public markets investment arm of the prestigious Sequoia Capital. Founded as an extension of Sequoia's venture capital heritage, SCGE focuses on technology and high-growth companies across global markets. The firm leverages Sequoia's deep industry networks and expertise to identify public market opportunities with significant growth potential.
New positions: In Q4 2024, Sequoia Capital initiated several significant positions, including Broadcom Inc. (AVGO) with a $260M investment, Atlassian Corporation (TEAM) worth $207M, Carvana Co. (CVNA) at $201M, Fair Isaac Corporation (FICO) valued at $149M, and also established new stakes in ServiceTitan, Inc. (TTAN), Reddit, Inc. (RDDT), Netflix, Inc. (NFLX), Sea Limited (SE), and monday.com Ltd. (MNDY).
Bought: Sequoia Capital significantly increased its position in Shopify Inc. (SHOP) by adding 2.14M shares (+217.6%), boosted its stake in Palo Alto Networks, Inc. (PANW) by 913,000 shares (+44.1%), while maintaining strong positions in ServiceNow, Inc. (NOW), NVIDIA Corporation (NVDA), and Taiwan Semiconductor Manufacturing Company Limited (TSM), which all saw double-digit percentage gains in value.
Sold: The firm notably reduced its exposure to Nu Holdings Ltd. (NU) by 24.5M shares (-80.2%), cut Microsoft Corporation (MSFT) by 846,000 shares (-77.7%), reduced Coupang, Inc. (CPNG) by 2.1M shares (-27.4%), trimmed Meta Platforms, Inc. (META) by 209,000 shares, decreased CrowdStrike Holdings, Inc. (CRWD) by 207,000 shares, and completely liquidated its position in PDD Holdings Inc. (PDD) worth $112M.
Website: www.sequoiacap.com/scge
Wikipedia: en.wikipedia.org/wiki/Sequoia_Capital
| Ticker | Company | Weight | Shares | Value | Q4 Return |
|---|---|---|---|---|---|
| NOW | ServiceNow, Inc. | 19.4% | $1,047,398,560 | + 18.53% | |
| META | Meta Platforms, Inc. | 13.1% | ▼ Trimmed | $710,809,140 | - 12.74% |
| AMZN | Amazon.com, Inc. | 8.2% | ▼ Trimmed | $442,729,020 | + 4.76% |
| NVDA | NVIDIA Corporation | 7.3% | $394,006,860 | + 10.58% | |
| SHOP | Shopify Inc. | 7.2% | ▲ Added | $391,507,060 | + 217.64% |
| PANW | Palo Alto Networks, Inc. | 4.9% | ▲ Added | $263,478,080 | + 44.08% |
| AVGO | Broadcom Inc. | 4.8% | ▲ New | $259,660,800 | |
| TEAM | Atlassian Corporation | 3.8% | ▲ New | $207,116,380 | |
| CVNA | Carvana Co. | 3.7% | ▲ New | $201,123,040 | |
| CPNG | Coupang, Inc. | 3.6% | ▼ Trimmed | $196,391,300 | - 27.39% |
| HUBS | HubSpot, Inc. | 3.5% | ▼ Trimmed | $191,611,750 | + 11.94% |
| FICO | Fair Isaac Corporation | 2.8% | ▲ New | $149,319,750 | |
| TTAN | ServiceTitan, Inc. | 2.3% | ▲ New | $126,456,548 | |
| RDDT | Reddit, Inc. | 2.2% | ▲ New | $119,147,760 | |
| TSM | Taiwan Semiconductor Manufacturing Company Limited | 1.9% | $105,262,170 | + 13.72% | |
| MSFT | Microsoft Corporation | 1.9% | ▼ Trimmed | $104,953,500 | - 77.73% |
| NFLX | Netflix, Inc. | 1.8% | ▲ New | $98,045,200 | |
| SE | Sea Limited | 1.8% | ▲ New | $96,444,900 | |
| NU | Nu Holdings Ltd. | 1.7% | ▼ Trimmed | $89,593,280 | - 80.23% |
| CRWD | CrowdStrike Holdings, Inc. | 1.6% | ▼ Trimmed | $87,250,800 | - 32.66% |
| MELI | MercadoLibre, Inc. | 1.2% | ▼ Trimmed | $64,616,720 | - 31.54% |
| MNDY | monday.com Ltd. | 0.9% | ▲ New | $50,643,144 | |
| CART | Instacart (Maplebear Inc.) | 0.2% | $11,599,133 | + 1.67% | |
| PDD | PDD Holdings Inc. | 0.0% | ▼ Liquidated | $0 |
New Positions
Broadcom Inc. AVGO
Sequoia Capital bought 1,120,000 shares of Broadcom Inc. in Q4 2024. Broadcom Inc. has demonstrated strong revenue growth of 43.99% in 2024, reaching $51.57B, though earnings declined by -58.14%. The stock gained 81% over the last 12 months, reaching an all-time high of $248.58 in December 2024. Recent momentum stems from its expanded infrastructure software segment and AI-related chip demand.
- Revenue grew 43.99% YoY to $51.57B in 2024 while earnings fell -58.14%.
- Stock price increased 81% over 12 months with a 110.86 P/E ratio (forward P/E 33.49).
- VMware acquisition closed in March 2025, driving 37% QoQ growth in infrastructure software revenue.
Atlassian Corporation TEAM
Sequoia Capital bought 851,000 shares of Atlassian Corporation in Q4 2024. Atlassian Corporation reported 14% year-over-year revenue growth in Q3 FY25, driven by 25% cloud revenue growth and 19% subscription growth. Despite beating earnings estimates with adjusted EPS of $0.97, shares fell 18% due to slowing overall growth and a widened net loss of $70.8 million. The recent expansion of its AI-powered Rovo platform into premium products positions it for potential enterprise efficiency gains.
- Q3 FY25 revenue reached $1.36B, up 14% YoY – slowest growth rate in three years.
- Cloud revenue surged 25% while subscription revenue grew 19% to $1.27B.
- Post-earnings stock drop of 18% reflects investor concerns about decelerating growth margins.
Carvana Co. CVNA
Sequoia Capital bought 989,000 shares of Carvana Co. in Q4 2024. Carvana Co. has demonstrated strong growth over the past 12 months, with 26.94% YoY revenue growth in 2024 and a 46% YoY retail unit growth in Q1 2025. Despite a 53% earnings decline in 2024, the company achieved record profitability in early 2025, driving its stock price to $293.06 (up 21.63% over 30 days as of May 2025). Analysts project 166% earnings growth for 2025 due to operational efficiency improvements and market share gains in online used car sales.
- EPS surged 137.6% above estimates in recent quarters with Q1 2025 consensus estimates revised upward by $0.86.
- Stock price increased 20% YTD despite broader market challenges, reaching a 52-week high of $293.62.
- 150% EPS growth projected through 2029 fueled by expanded logistics network and AI-driven pricing optimization.
Fair Isaac Corporation FICO
Sequoia Capital bought 75,000 shares of Fair Isaac Corporation in Q4 2024. Fair Isaac Corporation has demonstrated strong stock performance over the past 12 months, with shares rising 57.77% year-over-year driven by consistent growth in its analytics software business. The stock trades near all-time highs at $2,136.03, though its 1.4 beta indicates higher volatility than the broader market. Recent partnerships and international expansion initiatives position the company for continued growth despite a premium valuation.
- 3-year stock price surge of 462.71% and 5-year gain of 478.74% demonstrates sustained momentum.
- Q2 2025 EPS of $6.59 with next quarter estimates at $7.67, representing potential 16.4% quarter-over-quarter growth.
- 52-week trading range shows 39.3% downside protection at lows vs 15.1% upside to recent highs, reflecting market confidence in long-term prospects.
ServiceTitan, Inc. TTAN
Sequoia Capital bought 1,229,285 shares of ServiceTitan, Inc. in Q4 2024. ServiceTitan has demonstrated strong revenue growth over the past year, with 25.6% YoY growth to $771.88 million in 2024 and 29% YoY growth in Q4 2025. However, losses widened to $359.7 million in 2024 and $239.1 million in FY2025 despite improved non-GAAP profitability. The stock trades at a 246.47 forward P/E ratio versus the sector's 11.5x average, reflecting premium valuation concerns despite analyst optimism.
- Q4 2025 revenue reached $209.3 million with gross transaction value growing 26% to $17 billion.
- Shares surged 40% on IPO debut but now trade 5.9% above analysts' 12-month target price of $118.23.
- Non-GAAP net income turned positive at $16.5 million in FY2025 despite significant GAAP losses.
Reddit, Inc. RDDT
Sequoia Capital bought 729,000 shares of Reddit, Inc. in Q4 2024. Reddit, Inc. has demonstrated strong growth over the past 12 months, with Q1 2025 revenue surging 61% year-over-year to $392.4 million and daily active users rising 31% to 108.1 million. The company achieved profitability with net income of $26.2 million and expanded gross margins to 90.5%, reflecting improved operational efficiency. CEO Steve Huffman highlighted accelerating platform value as Reddit surpassed 400 million weekly users, positioning it as a key hub for authentic online discourse.
- Revenue grew 61% YoY in Q1 2025 ($392.4M) following 23% QoQ growth in Q4 2024 ($427.7M).
- Adjusted EBITDA margin reached 29.4% in Q1 2025 ($115.3M), demonstrating scalable profitability.
- Operating cash flow increased to $127.6 million in Q1 2025 while reducing fully diluted shares to 206.0 million.
Netflix, Inc. NFLX
Sequoia Capital bought 110,000 shares of Netflix, Inc. in Q4 2024. Netflix, Inc. has demonstrated strong performance over the past 12 months, with its stock delivering a total return of 87.56% and year-to-date gains of 29.13%, significantly outpacing the S&P 500. The stock reached an all-time high of $1,164.00 in May 2025, reflecting investor confidence in its growth trajectory. Recent outperformance is attributed to sustained subscriber growth and operational efficiency improvements.
- Year-to-date total return of 36.85% as of May 2025, outperforming the S&P 500 by 7.86 percentage points.
- 5-year total return of 160.43%, highlighting long-term value creation.
- Recent 52-week high at $1,164.00, with 28% YTD price appreciation driven by strong earnings and market leadership in streaming.
Sea Limited SE
Sequoia Capital bought 909,000 shares of Sea Limited in Q4 2024. Sea Limited (SE) has demonstrated robust growth over the past 12 months, with 28.75% revenue growth to $16.82 billion in 2024 and a 194.79% surge in earnings to $444.32 million. The stock has outperformed its 52-week range of $55–$147.73, reaching a recent high of $162.00, driven by strong execution in e-commerce, digital financial services (rebranded as Monee), and gaming. Analysts remain bullish with a 36.12 forward P/E ratio, though price targets vary amid mixed views on valuation post-surge.
- EPS grew 194.79% year-over-year in 2024, reaching $1.42 (ttm).
- Up 12.2% in Q1 2025 after reporting record Shopee GMV and 50%+ Garena bookings growth.
- TD Cowen raised price target to $140 (May 2025), while Bernstein SocGen maintains $170 target.
monday.com Ltd. MNDY
Sequoia Capital bought 215,100 shares of monday.com Ltd. in Q4 2024. monday.com Ltd. has demonstrated robust growth over the past year, with Q1 2025 revenue reaching $282.3 million, a 30% year-over-year increase, and record GAAP/non-GAAP operating profitability. The company’s net dollar retention rate of 112% reflects strong customer expansion, while strategic investments in AI-powered features and enterprise solutions position it for sustained momentum. Analysts maintain a Strong Buy rating with a 12-month price target of $340.57, signaling confidence in its upward trajectory.
- Revenue grew 32% YoY in Q4 2024 to $268.0 million, surpassing $1 billion in annual recurring revenue.
- Adjusted free cash flow hit a record high in Q1 2025, underscoring operational efficiency.
- Stock price surged ~60% over the last 12 months, outperforming the Nasdaq Composite Index.
