Hemant Taneja's Trades and Holdings in Q2 2026

Breaking down the stocks Hemant Taneja (General Catalyst) bought, sold, and held in Q2 2026, including their holdings at the end of the quarter. All data sourced from General Catalyst's 13F filed on August 17, 2026.

Who are Hemant Taneja and General Catalyst?

Hemant Taneja is the CEO and managing partner of General Catalyst (commonly referred to as General Catalyst). The firm is known for its highly concentrated public equity portfolio, typically consisting of around 10 stocks, with the top 5 holdings comprising approximately 98% of assets, and variable cash holdings deployed into strategic follow-on opportunities across private and public markets. His investment strategy is a growth-oriented venture and crossover approach emphasizing uncommon collaboration with founders to build resilient, transformative companies through applied AI, sustainability, and ecosystem innovation. Taneja focuses on high-potential companies in sectors like healthcare, AI infrastructure, software, and climate tech that can achieve massive scale and social impact, with strong qualitative factors like visionary leadership, disruptive business models, high margins, defensible moats, rapid adoption, and the ability to compound value through operational transformations and long-term secular trends.

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Q2 '26 13F filed with SEC

Holdings in Q2 2026

Current Investment Strategy

In the second quarter of 2026, Hemant Taneja's General Catalyst sharpened its highly concentrated crossover portfolio, rotating out of enterprise-software stalwarts Samsara and GitLab while adding fresh biotech bets in Parabilis Medicines and Odyssey Therapeutics alongside consumer-facing plays in DoorDash and Carvana, reinforcing a book still anchored by Arrivent Biopharma, Maplebear, Maze Therapeutics, Eikon Therapeutics, Fractyl Health, Ethos Technologies, Coupang and Amazon. The moves underscore Taneja's continued "applied AI" thesis of backing founders building resilient, technology-enabled platforms across healthcare, logistics and e-commerce, even as the firm leans further into clinical-stage biopharma and next-generation therapeutics as a proxy for AI-driven drug discovery and healthcare transformation.

New Investments

Parabilis Medicines, Inc.

Hemant Taneja bought $43.82M of Parabilis Medicines, Inc. in Q2 2026. Over the last two quarters, Parabilis Medicines has moved into the public markets with an upsized IPO that raised $670 million at $20 per share and a debut close at $31.60 (up 58%), indicating strong investor appetite for its clinical-stage oncology platform. In the current quarter (Q2 2026), the company reported a net loss of $52.5 million, widening from $34.8 million in the prior-year period as R&D and platform investments accelerate, pressuring near-term earnings while building longer-term pipeline value. Relative to early-stage biotech peers, the post-IPO share performance and targeted valuation near $2.3 billion underscore confidence in Parabilis’s Helicon helical peptide platform and lead Wnt/β‑catenin inhibitor program, positioning the stock as a high-growth, high‑risk oncology name.

• Net loss in Q2 2026 was $52.5 million, up roughly 51% from $34.8 million in the prior-year quarter..
• The June 2026 IPO priced at $20 per share, raised about $670 million, and closed the first trading day at $31.60, an increase of around 58%..
• The upsized offering targeted a valuation near $2.3 billion, reflecting robust demand for Parabilis’s Helicon-based oncology pipeline..

Odyssey Therapeutics, Inc.

Hemant Taneja bought $15.16M of Odyssey Therapeutics, Inc. in Q2 2026. Over the last two quarters, Odyssey Therapeutics has shifted from a late‑stage private company to a newly public, clinical‑stage autoimmune platform with strengthening fundamentals, highlighted by positive Phase 2a proof‑of‑concept data for OD‑001 in ulcerative colitis and a May 2026 Nasdaq listing that raised approximately $304M. Operational momentum is clearly positive this quarter: OD‑001 delivered clinically meaningful remission and response rates (about 27% clinical remission and 61% clinical response in the Phase 2a trial), management is preparing Phase 2b monotherapy and Phase 2a combination studies for 2H 2026, and OD‑002 remains on track for IND‑enabling completion and a CTA filing in 2H 2026. From a fundamentals perspective, the company ended Q1 2026 with roughly $464M in pro forma cash (including the IPO and concurrent private placement) and reported a Q2 2026 net loss of about $52.8M, implying a multi‑year cash runway into the second half of 2028 even as R&D spending ramps, which positions the name as a higher‑risk but increasingly de‑risked clinical asset story versus early‑stage immunology peers still pre–proof‑of‑concept.

• Pro forma cash balance of about $464M as of March 31, 2026, expected to fund operations into 2H 2028.
• Q2 2026 net loss of approximately $52.8M with no product revenue, reflecting heavy R&D investment typical for clinical‑stage biotech.
• Phase 2a OD‑001 trial in ulcerative colitis showed clinical remission in ~27% of patients and clinical response in ~61% over 12 weeks of treatment.

Doordash Inc.

Hemant Taneja bought $525.91K of Doordash Inc. in Q2 2026. Over the last twelve months the company has maintained robust growth, with Q2 2026 total orders rising 27% year-over-year to 970 million, marketplace GOV up 36% to $33.1 billion, and revenue increasing 36% to $4.5 billion, underscoring continued share gains in on-demand delivery. This builds on Q1 2026 trends, where orders grew 27%, GOV 37%, and revenue 33% year-over-year to $4.0 billion, while Adjusted EBITDA expanded 28% to $754 million, highlighting improving operating leverage even as GAAP net income remains pressured by growth investments. In the current quarter, Adjusted EBITDA jumped another 40% year-over-year to $914 million even as GAAP net income declined 30% to $200 million, and the recent Q2 2026 earnings release and continued scaling of the platform are likely to be viewed as supportive for the company’s valuation trajectory.

• Q2 2026 revenue up 36% year-over-year to $4.5 billion.
• Q2 2026 Adjusted EBITDA increased 40% year-over-year to $914 million; GAAP net income declined 30% to $200 million.
• Q1 2026 revenue grew 33% year-over-year to $4.0 billion, with Adjusted EBITDA up 28% to $754 million.

Carvana

Hemant Taneja bought $425.53K of Carvana in Q2 2026. The firm added to its position as Carvana delivered back-to-back record quarters, with Q2 2026 retail units up 38% YoY to 197,325 and revenue up 52% YoY to $7.376B, extending the sharp growth seen in Q1 2026. Profitability is climbing sequentially, with net income increasing from $405M in Q1 2026 to $513M in Q2 2026 and adjusted EBITDA rising from $672M to $769M, while net income margin expanded to an industry-leading 7.0% and adjusted EBITDA margin held at 10.4%. The current quarter’s record GAAP operating income of $680M and EPS of about $0.42 modestly ahead of consensus underscore ongoing fundamental momentum, even as shares react volatility to the print, setting up further value creation if execution and growth persist.

• Q2 2026 retail units rose 38% YoY to 197,325, with revenue up 52% YoY to $7.376B..
• Q2 2026 net income reached $513M (margin 7.0%) and adjusted EBITDA was $769M (margin 10.4%), both record highs..
• Q1 2026 retail units were 187,393 (+40% YoY) and revenue was $6.432B (+52% YoY), with net income of $405M and adjusted EBITDA of $672M..

Added, Trimmed, and Exited

Added

General Catalyst added to three existing public positions this quarter: Coupang Inc. shares rose from 36,677 to 54,677 (+18,000 shares, value up to $949,739 from $692,462), Amazon.Com Inc. shares increased from 2,582 to 3,882 (+1,300 shares, value up to $925,236 from $537,753), and Meta Platforms Inc. shares nearly doubled from 658 to 1,320 (+662 shares, value up to $743,543 from $376,462).
What it means: These add-ons are modest in absolute dollar terms relative to the firm's large private-market bets, but the consistent increase across three mega-cap tech and e-commerce names (Coupang, Amazon, Meta) suggests General Catalyst is using its small public equity sleeve to maintain exposure to platform-scale AI and e-commerce winners even while its capital is overwhelmingly concentrated in newly public biotech names like Parabilis Medicines, Inc. and Odyssey Therapeutics, Inc. The size of these positions (all under $1M) indicates they remain a secondary, satellite allocation rather than a core conviction shift.

Trimmed

The only position with a share reduction was Fractyl Health, Inc., which saw shares decrease marginally from 4,884,193 to 4,884,186 (-7 shares), though the position's value actually rose from $2,235,984 to $3,879,997 on the return of the underlying stock.
What it means: This trim is negligible and likely reflects a rounding or corporate action adjustment rather than an active decision to reduce conviction, especially since the position's value grew substantially (+73.5%) alongside the stock's appreciation. Effectively, General Catalyst held its Fractyl Health, Inc. stake flat this quarter.

Exited

General Catalyst fully liquidated two positions: Samsara (2,000,000 shares, valued at $63.38M as of the prior quarter) and GitLab (921,405 shares, valued at $19.94M as of the prior quarter), both exited via a filing dated 2026-05-15.
What it means: The complete exit from both Samsara and GitLab—two established, profitable enterprise software/IoT names—frees up meaningful capital (over $83M combined at prior valuations) that appears to have been redeployed into the firm's large new positions in Parabilis Medicines, Inc. ($43.82M) and Odyssey Therapeutics, Inc. ($15.16M). This rotation signals a clear strategic pivot from mature, cash-generative software businesses toward earlier-stage, high-growth biotech names freshly emerging from IPO, consistent with General Catalyst's stated focus on capturing outsized upside in disruptive healthcare and AI-driven platforms even at the cost of near-term earnings visibility.

Disclaimer: All posts are for informational purposes only. They are NOT a recommendation to buy or sell the securities discussed. Please do your own research and due diligence before investing your money.