Managers / Q1 2026
Keenan Capital, LLC
CIK 0001647363 · 1229 BURLINGAME AVENUE, SUITE 201, BURLINGAME, CA, 94010 · 650-344-3332
Summary
Keenan Capital, LLC reported $474M in U.S.-listed holdings across 9 positions for Q1 2026.
Its largest position, APP, represents 16.1% of the portfolio.
Compared with Q4 2025, the fund opened 1 new position and exited 1.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 71.8% · $340M
- Other · 28.2% · $134M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| APPFAPPFOLIO INC | NEW | +334.6K | 334.6K | +$53M | $53M |
| SAILSAILPOINT INC | ADDED | +4.12M | 4.28M | +$53M | $57M |
| JAMFJAMF HLDG CORP | SOLD OUT | −1.12M | 0 | −$15M | $0 |
| CLEARWATER ANALYTICS HLDGS I | TRIMMED | −2.70M | 960.2K | −$66M | $23M |
| ACCELERANT HOLDINGS | ADDED | +852.9K | 3.99M | +$2M | $53M |
| DTDYNATRACE INC | ADDED | +197.0K | 1.65M | −$2M | $61M |
| GDDYGODADDY INC | ADDED | +59.0K | 604.0K | −$18M | $50M |
| APPAPPLOVIN CORP | ADDED | +14.5K | 191.2K | −$43M | $76M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | APPAPPLOVIN CORPhistory → | COM CL A | 16.06% | $76M | 191.2K |
| 2 | DTDYNATRACE INChistory → | COM NEW | 12.86% | $61M | 1.65M |
| 3 | GLOBAL E ONLINE LTD | SHS | 12.14% | $58M | 1.87M |
| 4 | SAILSAILPOINT INChistory → | COM | 11.96% | $57M | 4.28M |
| 5 | ACCELERANT HOLDINGS | CL A | 11.26% | $53M | 3.99M |
| 6 | APPFAPPFOLIO INChistory → | COM CL A | 11.14% | $53M | 334.6K |
| 7 | GDDYGODADDY INChistory → | CL A | 10.54% | $50M | 604.0K |
| 8 | WDAYWORKDAY INChistory → | CL A | 9.25% | $44M | 337.2K |
| 9 | CLEARWATER ANALYTICS HLDGS I | CL A | 4.79% | $23M | 960.2K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $474M | 9 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $549M | 9 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $512M | 8 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $428M | 8 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $435M | 10 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $495M | 10 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $452M | 9 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $408M | 9 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $390M | 9 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $424M | 9 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $567M | 10 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $558M | 10 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $551M | 12 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $499M | 12 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $526M | 12 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $526M | 11 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $715M | 13 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $792M | 15 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $721M | 15 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $730M | 14 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $601M | 13 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $618M | 13 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $498M | 13 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $507M | 13 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $366M | 14 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $304M | 13 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $276M | 15 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $250M | 12 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $230M | 12 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $183M | 13 | Feb 14, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.