Battery Management Corp.

Key Holdings

The portfolio is dominated by a single "mega-position," creating a distinct risk/reward profile centered on the performance of one asset.

• ServiceTitan Inc. (78.07%): This is the cornerstone position, valued at over $409 million. With a weighting of nearly 80% of the entire portfolio, the firm’s performance is inextricably linked to ServiceTitan. This suggests an extremely high level of conviction in this specific company, likely viewing it as a long-term compounder or a mispriced opportunity with significant upside potential.
• Braze Inc. (13.14%): As the second-largest holding, Braze represents a meaningful allocation but is dwarfed by the top position. The firm increased this stake significantly (discussed further below), signaling growing confidence in the company's fundamentals or valuation relative to growth.
• Sprinklr Inc. (4.08%): Once a much larger position, Sprinklr has been reduced to a minor holding. While still in the top five, the drastic reduction suggests the manager's thesis may have changed, or they are taking profits/reducing risk exposure here.
• Smaller Positions: Champions Oncology (2.99%) and Zeta Global Holdings Corp (1.72%) round out the portfolio. These are relatively small bets compared to the top two, likely serving as diversifiers within a specific thesis or higher-risk/higher-reward satellite positions.