TREMBLANT CAPITAL GROUP reported a new position in CyberArk Software Ltd. valued at approximately $29.09 million, according to a November 14, 2025, SEC filing.
What happened
In a quarterly report filed with the U.S. Securities and Exchange Commission on November 14, 2025 (SEC filing), TREMBLANT CAPITAL GROUP disclosed a new position in CyberArk Software Ltd. (CYBR 0.48%), totaling 60,201 shares as of September 30, 2025. The addition represents 3% of the fund's $968.95 million in reportable U.S. equity assets.
What else to know
- This new position is now the 14th largest, making CyberArk Software Ltd. 3% of TREMBLANT CAPITAL GROUP's 13F assets as of September 30, 2025.
Top holdings after the filing:
- NASDAQ:WBD: $59.30 million (6.12% of AUM)
- NASDAQ:GRAB: $57.59 million (5.94% of AUM)
- NASDAQ:DASH: $53.59 million (5.53% of AUM)
- NYSE:SPOT: $52.23 million (5.39% of AUM)
- NYSE:TKO: $50.39 million (5.20% of AUM)
- As of November 13, 2025, shares were priced at $487.29, up 67.1% over the past year, outperforming the S&P 500 by 49.43 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-11-13) | $487.29 |
| Market Capitalization | $24.60 billion |
| Revenue (TTM) | $1.30 billion |
| Net Income (TTM) | -$226.92 million |
Company Snapshot
- Offers privileged access management, identity security, endpoint privilege management, and cloud entitlement solutions, with a focus on risk-based credential security and SaaS-based identity management.
- Generates revenue primarily through software licensing, SaaS subscriptions, and maintenance and support services, leveraging direct sales and a global network of partners.
- Serves financial services, healthcare, manufacturing, energy, retail, technology, telecommunications, and government sectors across the United States, EMEA, and internationally.
CyberArk Software Ltd. is a leading provider of identity security and privileged access management solutions, supporting organizations in securing critical infrastructure and sensitive data. With a global footprint and a robust suite of SaaS and on-premises offerings, the company targets regulated and security-conscious industries. CyberArk's strategic focus on cloud-native security and adaptive authentication positions it as a key player in the evolving cybersecurity landscape.
Foolish take
CyberArk Software was TREMBLANT’s largest purchase in the third quarter of 2025. The $29.1 million invested exceeded the $26.3 million invested in Chipotle or the $20.5 million added to its Warner Bros. Discovery position.
Moreover, after closing seven positions in Q3, TREMBLANT likely had significant capital to put to work. It is also worth noting that Palo Alto Networks announced plans to acquire CyberArk in July. It is unclear if or how that purchase factored into TREMBLANT’s decision to buy the stock.
NASDAQ: CYBR
Key Data Points
Investors should also keep in mind that CyberArk is TREMBLANT’s 14th largest position out of 39 stocks. Nearly all of its holdings are in the technology or consumer sectors, so this holding is consistent with its investment interests.
Moreover, at a price-to-sales (P/S) ratio of 17, this is not a cheap stock. Still, cybersecurity is a critical industry in tech, and if the Palo Alto deal goes through, this could prove to be a wise purchase for TREMBLANT.
Glossary
13F reportable assets: Assets that U.S. institutional investment managers must disclose in quarterly SEC filings if above a certain threshold.
Assets under management (AUM): The total market value of investments that a fund or firm manages on behalf of clients.
Privileged access management: Security solutions that control and monitor access to critical systems by users with elevated permissions.
Identity security: Technologies and practices for verifying and protecting user identities within an organization’s systems.
Endpoint privilege management: Tools that restrict and manage user permissions on individual devices to reduce security risks.
Cloud entitlement solutions: Services that manage and secure user access rights to cloud-based resources.
SaaS (Software as a Service): Software delivered over the internet by subscription, rather than installed locally on devices.
Direct sales: Sales made directly from a company to customers, without intermediaries or third-party distributors.
EMEA: Geographic region including Europe, the Middle East, and Africa.
Cloud-native security: Security solutions designed specifically for cloud computing environments, rather than adapted from traditional systems.
Adaptive authentication: Security process that adjusts authentication requirements based on risk factors or user behavior.
TTM: The 12-month period ending with the most recent quarterly report.
