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Cadian Capital Management, LP
Eric Bannasch · Hedge Fund · Long/Short Equity
Cadian Capital Management, LP is a New York-based investment management firm founded in 2007 by Eric Bannasch, who previously served as a managing partner at Perry Capital. The firm specializes in fundamental, research-driven investment strategies primarily within the technology, media, and telecommunications (TMT) sectors, though it also explores opportunities in healthcare, consumer, and industrial industries. Cadian is known for its focus on small to mid-cap companies, utilizing deep industry expertise to identify long-term capital appreciation opportunities that are often overlooked by larger market participants. The institution operates as a hedge fund manager, employing a disciplined analytical approach to navigate complex market dynamics and manage risk through a variety of private investment vehicles.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +45.7% |
| YTD return | +22.8% |
| Sharpe ratio | 3.30 |
| Win rate | 72% |
| AUM | $1.1B |
| Inception | Oct 1, 2025 |
| Updated | Aug 20, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $1.1B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.cadiancap.com/ |
Current Holdings
Updated on Aug 20, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| IQV | IQVIA Holdings Inc | 15.0% | +37.3% |
| GH | Guardant Health Inc | 11.6% | +159.6% |
| FLYW | Flywire Corp | 11.0% | +37.9% |
| PANW | Palo Alto Networks Inc | 8.5% | +34.3% |
| DKNG | DraftKings Inc | 8.4% | +4.4% |
| HQY | HealthEquity Inc | 7.1% | +25.5% |
| CYRX | Cryoport Inc | 6.6% | +69.4% |
| EVH | Evolent Health Inc | 5.5% | +10.9% |
| NTNX | Nutanix Inc | 3.9% | +28.7% |
| MNDY | Monday.Com Ltd | 3.8% | -2.7% |
| INTA | Intapp Inc | 3.0% | +97.2% |
| TCMD | Tactile Systems Technology Inc | 2.9% | +48.8% |
| SIBN | Si-Bone Inc | 2.9% | +29.5% |
| ALKT | Alkami Technology Inc | 2.3% | +17.5% |
| TSM | Taiwan Semiconductor Manufacturing | 1.8% | +12.7% |
| PLNT | Planet Fitness Inc | 1.7% | +3.6% |
| PCOR | Procore Technologies Inc | 1.3% | +7.4% |
| VRSN | VeriSign Inc | 1.0% | -10.8% |
| OABI | OmniAb Inc. | 0.9% | +121.3% |
| GLBE | Global-E Online Ltd | 0.7% | +10.7% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Jul 6, 2026 | BUY | INTA | 2.6% → 3.0% |
| Jul 6, 2026 | SELL | TSM | 2.0% → 1.8% |
| Jul 6, 2026 | SELL | VRSN | 1.5% → 1.0% |
| Jul 6, 2026 | BUY | GLBE | 0.0% → 0.7% |
| Jul 6, 2026 | SELL | MNDY | 4.5% → 3.8% |
Investment Style Analysis
Cadian Capital Management, LP is widely recognized for employing a Long/Short Equity strategy. As of Aug 20, 2026, the firm oversees approximately $1.1B in assets under management (AUM). The portfolio demonstrates a clear preference for the Diagnostics & Research and Software - Infrastructure sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Jul 6, Cadian Capital Management, LP made a significant move by increasing exposure to INTA. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Cadian Capital Management employs a fundamental, bottom-up investment philosophy focused on exhaustive research within its core sectors of expertise, particularly technology and media. The firm seeks to identify mispriced securities by conducting rigorous analysis of company financials, management quality, and industry-specific growth drivers. Its primary strategy is long/short equity, characterized by high-conviction long positions in undervalued companies and strategic short positions in businesses facing structural challenges or overvaluation. By focusing on the small and mid-cap space where information inefficiencies are more prevalent, Cadian aims to generate superior risk-adjusted returns while maintaining a disciplined approach to market exposure and net beta management.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Cadian Capital Management, LP.
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Frequently asked questions
How is the simulated portfolio for Cadian Capital Management, LP constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Cadian Capital Management, LP's largest holding?
As of the latest filing, Cadian Capital Management, LP's top position is IQVIA Holdings Inc (IQV), representing 15.0% of the portfolio. This reflects a high-conviction bet by the institution.
What is Cadian Capital Management, LP's historical performance and risk profile?
Our simulation indicates a total return of +45.7% with a win rate of 72%. Notably, the portfolio maintains a Sharpe Ratio of 3.30, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Cadian Capital Management, LP primarily invest in?
Cadian Capital Management, LP has a strong preference for the Diagnostics & Research sector, which makes up 26.6% of their disclosed assets. The portfolio also has exposure to Software - Infrastructure, indicating a specific thematic focus.
Is Cadian Capital Management, LP's portfolio concentrated or diversified?
Cadian Capital Management, LP runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 37.7% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Cadian Capital Management, LP performed in 2026?
Our AI-simulated model portfolio for Cadian Capital Management, LP tracks a Year-to-Date (YTD) return of +22.8%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Eric Bannasch manage Cadian Capital Management, LP directly?
Yes, Eric Bannasch serves as the key portfolio manager for Cadian Capital Management, LP, overseeing the investment strategy and final capital allocation decisions.