Vision Capital Fund Adjusts Q3 2026 Portfolio
Vision Capital Fund said it sold its entire stake in The Trade Desk during the third quarter and opened a new position in Datadog. The fund explained that Trade Desk's revenue growth has trailed peers, while Datadog benefits from rising cloud complexity and demand for monitoring tools. It also noted Google's leading shares across search, mobile operating systems, browsers, and other services.
Vision Capital Fund, a long-only global public equities manager led by Eugene Ng, disclosed the changes in its Q3 2026 quarterly letter. It fully sold The Trade Desk and opened a Datadog position during the period.
The fund tied the Trade Desk exit to revenue growth trailing Amazon, Meta, Google, and Walmart. It said Datadog should benefit from expanding cloud use and more complex software, which increases demand for monitoring, observability, and autonomy. It also cited Google's 91% search share, 69% Android phone share, 68% Chrome share, and over 70% across YouTube, Gmail, Maps, and Play Store.
The fund's shift may influence how investors view advertising technology versus cloud monitoring, potentially affecting shareholders of The Trade Desk, Datadog, and Google. Businesses dependent on digital ads or cloud services could see changing investment priorities, while consumers may experience indirect effects through platform competition, privacy, and service reliability. Because one fund's quarterly moves are limited in scale, any broader societal impact would likely depend on whether other investors follow similar views.