Meritech Capital Associates Vi L.L.C 13F annual report

Meritech Capital Associates Vi L.L.C is an investment fund managing more than $84.4 billion ran by Joel Backman. There are currently 5 companies in Mr. Backman’s portfolio. The largest investments include Snowflake and Braze, Inc., together worth $75.5 billion.

$84.4 billion Assets Under Management (AUM)

As of 7th August 2023, Meritech Capital Associates Vi L.L.C’s top holding is 275,749 shares of Snowflake currently worth over $48.5 billion and making up 57.5% of the portfolio value. Relative to the number of outstanding shares of Snowflake, Meritech Capital Associates Vi L.L.C owns more than approximately 0.1% of the company. In addition, the fund holds 616,667 shares of Braze, Inc. worth $27 billion. The third-largest holding is Twilio Inc worth $3.75 billion and the next is JFrog Ltd worth $3.46 billion, with 125,000 shares owned.

Currently, Meritech Capital Associates Vi L.L.C's portfolio is worth at least $84.4 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Meritech Capital Associates Vi L.L.C

The Meritech Capital Associates Vi L.L.C office and employees reside in Palo Alto, California. According to the last 13-F report filed with the SEC, Joel Backman serves as the Attorney in Fact at Meritech Capital Associates Vi L.L.C.

Recent trades

In the most recent 13F filing, Meritech Capital Associates Vi L.L.C revealed that it had increased its stake in Twilio Inc and bought 1,108 additional shares worth around $68 thousand. This means they effectively own approximately 0.1% of the company. Twilio Inc makes up 6.7% of the fund's Technology sector allocation and has decreased its share price by approximately 0.1% in the past year.

On the other hand, there are companies that Meritech Capital Associates Vi L.L.C is getting rid of from its portfolio. Meritech Capital Associates Vi L.L.C closed its position in UiPath on 14th August 2023. It sold the previously owned 854,320 shares for $15.5 million. Joel Backman also disclosed a decreased stake in Bright Health by 1.0%. This leaves the value of the investment at $1.62 billion and 132,503 shares.

One of the smallest hedge funds

The two most similar investment funds to Meritech Capital Associates Vi L.L.C are Prime Movers Lab and Versant Venture Management. They manage $84.4 billion and $84.3 billion respectively.

Joel Backman investment strategy

Meritech Capital Associates Vi L.L.C’s portfolio is diversified across 3 sectors. Currently, their heaviest sector is Technology — making up 66.1% of the total portfolio value. The fund focuses on investments in the United States as 80.0% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 20% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $15 billion.

The complete list of Meritech Capital Associates Vi L.L.C trades based on 13F SEC filings

These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Snowflake Inc.	No change 275,749	$48,526,309,000	57.52%
Braze, Inc.	No change 616,667	$27,003,848,000	32.01%
Twilio Inc	1.91% 58,987	$3,752,753,000	4.45%
JFrog Ltd	No change 125,000	$3,462,500,000	4.10%
Bright Health Group Inc.	98.75% 132,503	$1,619,187,000	1.92%
UiPath, Inc.	Closed 854,320	$15,540,000
No transactions found
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