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Funds
3
Score
2.88
vs SPY
-12.3%
Stock return (since Q-end)
-7.9%
SPY return (since Q-end)
+4.5%
Current price
$159.93
Days to cover (short int.)
4.3d↑+11.4%
as of 2026-09-30
News Summary
NeutralReddit delivered a strong Q2 2026 earnings beat (EPS $1.25 vs. $0.95 estimate, 61% revenue growth) and secured a major legal victory against Anthropic on content scraping claims, while achieving S&P 500 inclusion. However, stock remains down 33.5% YTD amid persistent concerns about AI-driven search disruption, declining ChatGPT references to Reddit content, and decelerating user engagement despite robust revenue metrics.
Red flags
- •Stock down 33.5% YTD and 38% below 52-week high despite strong fundamentals, indicating significant investor skepticism
- •AI licensing relationship with Google and declining ChatGPT citations creating uncertainty about future traffic and engagement sustainability
- •Multiple analyst price target cuts (DA Davidson $200→$185, Baird to $185) citing user growth concerns despite revenue strength
- •Sequential decline in U.S. engagement metrics noted by analysts even as overall DAU growth remains solid
Funds Buying (3)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Tiger Global | Chase Coleman | 2.5M | +29K | $439M | 1.8% | +1% | Existing |
| D1 Capital | Dan Sundheim | 2.5M | +5K | $428M | 1.2% | +0% | Existing |
| Duquesne Family Office | Stanley Druckenmiller | 57K | +57K | $10M | 0.2% | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where RDDT ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
D1 Capital
position #10 of this fund's book
- 7US FOODS HLDG CORP$460M
- 8DANAHER CORP DEL$435M
- 9SHERWIN WILLIAMS CO$431M
- 10REDDIT INC$428M
- 11THERMO FISHER SCIENTIFIC INC$410M
- 12KILROY REALTY CORP$393M
- 13CLEAN HARBORS INC$393M
Tiger Global
position #18 of this fund's book
- 15INTEL CORP$594M
- 16SPOTIFY TECHNOLOGY S A$538M
- 17TAKE-TWO INTERACTIVE SOFTWAR$452M
- 18REDDIT INC$439M
- 19ADVANCED MICRO DEVICES INC$392M
- 20BLOCK INC$348M
- 21APOLLO GLOBAL MGMT INC$322M
Values are quarter-end position sizes. Shown only for funds where RDDT ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | LONG | 3 | 2.88 | -12.3% |
| Q1 2026 | LONG | 4 | 4.24 | +12.6% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| Huffman Steve Ladd | CEO & President | SELL | 300 | $142.44 | $0.04M | 2026-09-29 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 3K | $143.78 | $0.36M | 2026-09-29 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 8K | $144.64 | $1.17M | 2026-09-29 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 5K | $145.46 | $0.77M | 2026-09-29 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 776 | $146.62 | $0.11M | 2026-09-29 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 324 | $147.25 | $0.05M | 2026-09-29 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 900 | $158.21 | $0.14M | 2026-09-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 8K | $159.44 | $1.21M | 2026-09-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 6K | $160.28 | $0.97M | 2026-09-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 1K | $160.99 | $0.17M | 2026-09-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 1K | $162.81 | $0.23M | 2026-09-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 300 | $163.64 | $0.05M | 2026-09-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 3K | $158.04 | $0.43M | 2026-09-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 9K | $159.13 | $1.39M | 2026-09-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 5K | $159.84 | $0.87M | 2026-09-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 4K | $161.06 | $0.56M | 2026-09-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 9K | $162.34 | $1.48M | 2026-09-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 9K | $163.16 | $1.42M | 2026-09-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 13K | $164.17 | $2.14M | 2026-09-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 7K | $165.09 | $1.07M | 2026-09-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 2K | $165.90 | $0.38M | 2026-09-14 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 10K | $147.66 | $1.51M | 2026-08-31 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 7K | $148.35 | $1.04M | 2026-08-31 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 700 | $149.59 | $0.10M | 2026-08-31 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 100 | $151.17 | $0.02M | 2026-08-31 | ↗ |
| Sauerberg Robert A. | — | SELL | 5K | $159.92 | $0.82M | 2026-08-25 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 1K | $175.04 | $0.23M | 2026-08-14 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 2K | $176.11 | $0.40M | 2026-08-14 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 3K | $177.04 | $0.50M | 2026-08-14 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 5K | $178.09 | $0.91M | 2026-08-14 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 3K | $178.95 | $0.50M | 2026-08-14 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 2K | $180.15 | $0.40M | 2026-08-14 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 600 | $181.06 | $0.11M | 2026-08-14 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 600 | $182.19 | $0.11M | 2026-08-14 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 200 | $182.82 | $0.04M | 2026-08-14 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 100 | $184.06 | $0.02M | 2026-08-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 3K | $174.82 | $0.49M | 2026-08-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 5K | $175.70 | $0.94M | 2026-08-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 11K | $176.73 | $2.01M | 2026-08-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 14K | $177.91 | $2.49M | 2026-08-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 13K | $178.71 | $2.25M | 2026-08-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 22K | $180.00 | $3.95M | 2026-08-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 3K | $180.71 | $0.58M | 2026-08-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 2K | $181.88 | $0.44M | 2026-08-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 1K | $182.70 | $0.18M | 2026-08-14 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 400 | $183.95 | $0.07M | 2026-08-14 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 700 | $154.51 | $0.11M | 2026-08-04 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 600 | $155.60 | $0.09M | 2026-08-04 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 300 | $157.18 | $0.05M | 2026-08-04 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 800 | $158.90 | $0.13M | 2026-08-04 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 10K | $159.87 | $1.52M | 2026-08-04 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 5K | $160.56 | $0.73M | 2026-08-04 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 1K | $161.78 | $0.19M | 2026-08-04 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 315 | $162.45 | $0.05M | 2026-08-04 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 300 | $190.54 | $0.06M | 2026-07-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 500 | $192.08 | $0.10M | 2026-07-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 700 | $193.85 | $0.14M | 2026-07-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 4K | $195.10 | $0.79M | 2026-07-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 4K | $195.79 | $0.79M | 2026-07-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 6K | $196.83 | $1.10M | 2026-07-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 11K | $198.03 | $2.13M | 2026-07-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 5K | $198.94 | $0.97M | 2026-07-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 3K | $199.89 | $0.64M | 2026-07-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 4K | $200.89 | $0.73M | 2026-07-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 700 | $201.94 | $0.14M | 2026-07-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 100 | $204.14 | $0.02M | 2026-07-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 500 | $205.85 | $0.10M | 2026-07-15 | ↗ |
| Wong Jennifer L. | Chief Operating Officer | SELL | 200 | $206.83 | $0.04M | 2026-07-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 100 | $190.68 | $0.02M | 2026-07-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 300 | $192.18 | $0.06M | 2026-07-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 600 | $194.19 | $0.12M | 2026-07-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 3K | $195.34 | $0.51M | 2026-07-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 2K | $196.46 | $0.49M | 2026-07-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 2K | $197.58 | $0.39M | 2026-07-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 5K | $198.27 | $1.00M | 2026-07-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 2K | $199.44 | $0.38M | 2026-07-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 2K | $200.47 | $0.32M | 2026-07-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 900 | $201.31 | $0.18M | 2026-07-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 300 | $202.25 | $0.06M | 2026-07-15 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 200 | $205.69 | $0.04M | 2026-07-15 | ↗ |
| Reynolds Michelle Marie | Chief Accounting Officer | SELL | 808 | $200.00 | $0.16M | 2026-07-01 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 1K | $170.71 | $0.19M | 2026-06-30 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 2K | $171.74 | $0.38M | 2026-06-30 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 5K | $172.91 | $0.86M | 2026-06-30 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 9K | $173.77 | $1.55M | 2026-06-30 | ↗ |
| Huffman Steve Ladd | CEO & President | SELL | 800 | $174.61 | $0.14M | 2026-06-30 | ↗ |
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| BAILLIE GIFFORD & CO | SC 13G | 7.3M | 5.2% | 2026-05-07 | ↗ |
| Steve Ladd Huffman | SC 13D/A | 48.1M | 24.8% | 2026-05-06 | ↗ |
| Vanguard Capital Management | SC 13G | 7.0M | 5.0% | 2026-04-30 | ↗ |
| FMR LLC | SC 13G/A | 4.4M | 2.3% | 2026-04-07 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.