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Daniel Gibson's Sylebra Capital ran an extreme concentration play in Q2 2026 ($944M, only 9 names, top-5 = 95.7%, top holding AEVA at 49.3% of AUM). No new positions. Only one add - Patria Investments +6.3%. Every other listed position was trimmed hard: Impinj -31.5%, Elastic -62.7%, Paycom -77%, Xometry -67.7%, LuxExperience (private SPV) -29.2%, 8x8 -53%. Two small exits: Nu Holdings ADR and SentinelOne (~$55M).
| Ticker | Company | Value | Shares | % of book |
|---|
| Ticker | Name | Note |
|---|---|---|
| S | SentinelOne | exited SentinelOne |
| NU UN | Nu Holdings | exited Nu Holdings ADR |
| Ticker | Q2 value | Change | Direction |
|---|
| PI | $111.1M | -31.5% | TRIM |
| ESTC | $30M | -62.7% | TRIM |
| PAYC | $19.9M | -77% | TRIM |
| XMTR | $16.7M | -67.7% | TRIM |
| LUXE | $12.9M | -29.2% | TRIM |
| EGHT | $7.2M | -53% | TRIM |
| PTRN | $4.2M | +6.3% | ADD |
Sylebra continues its 2024-2026 pattern of collapsing the fund into a single high-conviction bet: Aeva (LiDAR for autonomy) is now essentially half the book. The across-the-board trims on the remaining 7-8 names suggest funding the AEVA weight and preparing exit optionality on the rest. Not a diversified equity manager anymore - treats the book as a concentrated venture-style stack.
Figures are computed from the latest 13F-HR filing (period 2026-06-30); the filing is authoritative.