Technology Crossover Management XI, Ltd. — Q3 2025 13F-HR

← Technology Crossover Management XI, Ltd.

Q3 2025 · 13F-HR

Technology Crossover Management XI, Ltd.holdings as filed

Filed 2025-11-12 · accession 0001104659-25-110329

$977.4M

Reported value

Positions

2025-09-30

Period end

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The Brief · Technology Crossover Management XI, Ltd. · Q3 2025

AI · grounded in 13F

Technology Crossover Management XI, Ltd. established a new position in Spotify Technologies, S.A. SPOT valued at $698 million. The fund also initiated a stake in Zillow Group, Inc. Z worth $180.1 million. Additionally, it added Maplebear Inc. CART to its portfolio with a $99.3 million investment.

Holdings as filed

CUSIP	Ticker	Issuer	Value	% port.	Shares	Class	Voting
L8681T102	SPOT	Spotify Technologies, S.A.	$698.0M	71.4%	1,000,000	Common	SOLE
98954M200	Z	Zillow Group, Inc.	$180.1M	18.4%	2,338,036	Common	SOLE
565394103	CART	Maplebear Inc.	$99.3M	10.2%	2,700,000	Common	SOLE

Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.