Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供参考 · 非买入清单
Dragoneer Investment Group
tiger_crossover
D
Reliability improving可靠性走强
leaderboard rank榜单排名 #45FADE淡出
Book持仓规模
$2.8B
long US listed only仅美股多头
Positions持仓数
12
67% resolved已解析
Top-10 concentration前十集中度
98%
% of book占组合%
Turnover换手
MED
28.5% per quarter每季
Median excess中位超额
-33%
buys vs SPY, since filing买入相对SPY，自披露起 · n 77
Hit rate胜率
25%
share of buys beating SPY跑赢SPY的买入占比
Core lean — the 10-second read核心倾向 — 10秒速读
Core lean: Space Economy — added SPCX (+48.2pp of book this quarter)核心倾向：太空经济 — 本季度加仓 SPCX（占组合 +48.2pp）
Space Economy太空经济
+48.2pp
48.2% of book held占组合持有
· 1 names标的
· Industrials & Defense
SPCX
AI InfrastructureAI 基础设施
+22.5pp
22.5% of book held占组合持有
· 2 names标的
· AI & Technology
AMD
CBRS
AI SemiconductorsAI半导体
+22.5pp
22.5% of book held占组合持有
· 2 names标的
· Semiconductors
AMDCBRS
Technology (Equal-Weight)信息技术（等权）
+19.4pp
19.4% of book held占组合持有
· 1 names标的
· US Sectors (EW)
AMD
Magnificent Seven七巨头
+10.7pp
10.7% of book held占组合持有
· 1 names标的
· AI & Technology
AMZN
Consumer Discretionary (Equal-Weight)非必需消费（等权）
+10.7pp
10.7% of book held占组合持有
· 1 names标的
· US Sectors (EW)
AMZN
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新披露的描述性解读——主题按精选篮子聚类（Finviz 兜底），added-pp = 本季度买入占组合百分比之和。非预测。
Grade & excess history评级与超额历史
per-quarter buy cohorts, scored on public filing dates vs SPY — descriptive ranks in a curated survivor cohort按季度买入队列，以公开披露日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: improving走强 · 13 scored quarters已评分季度 · 0% positive为正 · recent-4 median近4季中位 -9% vs all-time对全期 -32%
Median excess by quarter各季度中位超额: ▂▇▅▇▂▂▁▇▅▆▇█ (oldest → newest, shifted by the series minimum so negatives render由旧到新，按序列最小值平移以呈现负值)
| Quarter季度 | Buys买入数 | Median excess中位超额 | Hit胜率 | Median fwd 63d中位前瞻63日 |
|---|---|---|---|---|
| 2023-06-30 | 5 | -77% | 0% | -16% |
| 2023-09-30 | 8 | -62% | 25% | -5% |
| 2023-12-31 | 2 | -7% | 50% | +35% |
| 2024-03-31 | 6 | -34% | 33% | -13% |
| 2024-06-30 | 11 | -12% | 36% | +29% |
| 2024-09-30 | 4 | -65% | 0% | +12% |
| 2024-12-31 | 5 | -63% | 0% | -11% |
| 2025-03-31 | 7 | -74% | 14% | -1% |
| 2025-06-30 | 5 | -3% | 40% | +0% |
| 2025-09-30 | 7 | -32% | 14% | -24% |
| 2025-12-31 | 9 | -16% | 33% | -14% |
| 2026-03-31 | 4 | -3% | 50% | -6% |
| 2026-06-30 | 4 | -2% | 25% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新披露；季度环比变化对上季Current weights当前权重 · 2026-06-30
Unclassified
62.4%
▲ +46.0pp
Technology
23.5%
▼ -24.4pp
Consumer Cyclical
10.7%
▼ -2.4pp
Financial
3.4%
▼ -5.3pp
Theme categories主题类别
Industrials & Defense 48.2%
AI & Technology 33.2%
Rotating into (QoQ)轮入（环比）
no QoQ increases无环比增持
Rotating out of (QoQ)轮出（环比）
Technology -24.4pp
Communication Services -13.7pp
Financial -5.3pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-06-30 | Unclassified 62% · Technology 24% · Consumer Cyclical 11% |
| 2026-03-31 | Technology 48% · Unclassified 16% · Communication Services 14% |
| 2025-12-31 | Technology 43% · Unclassified 25% · Consumer Cyclical 13% |
| 2025-09-30 | Technology 39% · Unclassified 26% · Consumer Cyclical 17% |
| 2025-06-30 | Technology 45% · Unclassified 26% · Financial 19% |
| 2025-03-31 | Technology 49% · Unclassified 24% · Financial 11% |
| 2024-12-31 | Technology 50% · Unclassified 30% · Financial 8% |
| 2024-09-30 | Technology 44% · Unclassified 36% · Consumer Cyclical 8% |
| 2024-06-30 | Technology 44% · Unclassified 34% · Financial 7% |
| 2024-03-31 | Unclassified 39% · Technology 36% · Financial 11% |
| 2023-12-31 | Technology 45% · Unclassified 28% · Financial 12% |
| 2023-09-30 | Technology 45% · Unclassified 29% · Financial 11% |
Full book完整持仓
every resolved position as filed — click a column header to sort. Conviction is a descriptive composite, not a forecast.截至披露日的全部已解析持仓——点击列头排序。信念分为描述性综合指标，非预测。8 positions shown项持仓 · resolved已解析 8/12 (67%) · unresolved CUSIPs are excluded from this table but counted in book totals未解析CUSIP不列入本表，但计入组合总额
| #↕ | Ticker标的 ↕ | Company公司 ↕ | % book仓位% ↕ | Value金额 ↕ | Action动作 ↕ | Δ sharesΔ股数 ↕ | Add streak连加季数 ↕ | Conviction信念分 ↕ | Sector行业 ↕ | Themes主题 | Since filing自披露 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | SPCX |
Space Exploration Techn Corp | 48.2% | $1.4B | new | — | 1q | 75 · HIGH | — | Space Economy | +8% |
| 2 | AMD |
Advanced Micro Devices Inc | 19.4% | $548M | new | — | 1q | 71 · HIGH | Technology | AI Infrastructure, AI Semiconductors, Technology (Equal-Weight) | -2% |
| 3 | AMZN |
Amazon Com Inc | 10.7% | $303M | new | — | 1q | 56 · MODERATE | Consumer Cyclical | Magnificent Seven, Consumer Discretionary (Equal-Weight) | -1% |
| 4 | CBRS |
Cerebras Systems Inc | 3.1% | $88M | new | — | 1q | 52 · MODERATE | — | AI Infrastructure, AI Semiconductors | -15% |
| 5 |  CHYM |
Chime Finl Inc | 3.1% | $88M | hold | +0% | — | 42 · LOW | Financial | — | +5% |
| 6 |  TTAN |
Servicetitan Inc | 2.5% | $71M | hold | +0% | — | 38 · LOW | Technology | — | -36% |
| 7 |  CCC |
Ccc Intelligent Solutions Hl | 1.7% | $47M | hold | +0% | — | 34 · LOW | Technology | — | +0% |
| 8 |  ROOT |
Root Inc | 0.3% | $9M | hold | +0% | — | 29 · LOW | Financial | Insurance | +3% |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本披露周期，不设上限——新建/加仓与减持取自已解析持仓，清仓取自轮动数据Rotated into轮入 (4)
| SPCX new |
48.2% | +8% |
| AMD new |
19.4% | -2% |
| AMZN new |
10.7% | -1% |
| CBRS new |
3.1% | -15% |
Rotated out of轮出 (10)
 CPNG exit |
-100% | -4% |
 CVNA exit |
-100% | -4% |
 DDOG exit |
-100% | -8% |
 GTM exit |
-100% | +3% |
 META exit |
-100% | +15% |
 NVDA exit |
-100% | -4% |
 OSCR exit |
-100% | +5% |
 SAIL exit |
-100% | -8% |
 WLTH exit |
-100% | +21% |
 XYZ exit |
-100% | -2% |
Trade log交易记录
last 40 graded trades, filing-date anchored, newest first — variable hold vs SPY最近40笔已评分交易，以披露日为锚，最新在前——持有期不定，相对SPYNo graded trades available for this fund.该基金暂无已评分交易。
Caveats注意事项 —
13F = quarterly, ~45-day lag, reported long positions from managers with at least $100M in Section 13(f) securities. No shorts, no cash, no non-US positions. This desk is context — ownership is never a directional signal here.13F = 季度披露，约45天滞后，仅含美股多头且持仓≥1亿美元。不含空头、现金或非美股仓位。本台仅为背景参考——持仓数据在此永远不是方向性信号。
Grades and reliability are descriptive ranks within a curated survivor cohort — they measure what filings did after their filing dates, not a manager-selection edge. Conviction and core-lean reads are descriptive composites earning a forward record via the pre-registered ledger (L5); sector/theme classification applies the current map to history.评级与可靠性为精选幸存者队列中的描述性排名——衡量披露日之后持仓的表现，而非经理选择能力。信念分与核心倾向为描述性综合指标，通过预注册账本（L5）积累前瞻记录；行业/主题分类将当前映射应用于历史。