Hamilton Lane Liquidates Its $9.4 Million Rubrik (NYSE: RBRK) Stake: Is the Stock in Trouble?
Key Points
Hamilton Lane sold 105,414 shares of Rubrik; estimated transaction value of $9.44 million.
The sale represents a 5.4% change in the fund's 13F assets under management for the period ended September 30, 2025.
The firm's post-trade stake: 0 shares, $0 value.
The position previously accounted for 7% of the fund’s AUM in Q3 2025.
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On October 7, 2025, Hamilton Lane Advisors sold its entire stake in Rubrik (NYSE:RBRK), an estimated $9.44 million trade based on quarterly average pricing for the quarter ended September 30, 2025.
What happened
According to a filing with the Securities and Exchange Commission (SEC) dated October 7, 2025, Hamilton Lane Advisors LLC sold all 105,414 shares of Rubrik. The estimated trade value was $9.44 million. After the sale, the fund reported a zero position in Rubrik at the close of the filing period.
What else to know
This was a complete liquidation of the Rubrik stake, which had represented 7.0% of the fund's AUM in the previous quarter. The post-trade allocation is 0% as of September 30, 2025.
Hamilton Lane's top holdings after the filing:
- Blue Owl Capital: $43.50 million (29.3% of AUM) as of September 30, 2025
- Granite Ridge Resources: $42.57 million (28.6% of AUM) as of September 30, 2025
- Nu Holdings: $18.04 million (12.1% of AUM) as of September 30, 2025
- IonQ: $15.99 million (10.8% of AUM) as of September 30, 2025
- Pagaya: $12.10 million (8.1% of AUM) as of September 30, 2025
As of October 6, 2025, shares of Rubrik were priced at $82.21, up 149.5% over the last year, outperforming the S&P 500 by 133.93 percentage points.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close October 6, 2025) | $82.21 |
| Market capitalization | $15.74 billion |
| Revenue (TTM) | $1.08 billion |
| Net income (TTM) | ($443.83 million) |
Company snapshot
Rubrik offers enterprise data protection, unstructured data protection, cloud and SaaS data protection, data threat analytics, security posture management, and cyber recovery solutions.
The company serves a diverse client base across financial, healthcare, technology, public sector, and other industries worldwide.
It is headquartered in Palo Alto, California, with approximately 3,200 employees.
Rubrik specializes in data security and protection solutions, with a focus on safeguarding critical information for large organizations. Its integrated platform addresses a broad range of data security needs for enterprise clients.
Foolish take
Cyber resilience leader, Rubrik, debuted on the markets in the middle of 2024 and has already seen its stock rise over 160%.
It looks like Hamilton Lane Advisors enjoyed most of this ride up and cashed out on their winning selection. With Rubrik's price-to-sales ratio rising from 7 to 15 in just one year, there's no denying the promising cybersecurity stock is now home to a lofty valuation.
To put this 15 times sales figure in perspective, if we assume Rubrik will mature to 20% net income margins, it would still be trading at 75 times earnings at today's share price.
However, Rubrik just grew revenue by 51% in its latest quarter, while seeing its existing customers grow their spending with the company by more than 20%.
Already integrated with the preventative cybersecurity behemoths of Palo Alto Networks, CrowdStrike, Zscaler, Okta, and Google's Mandiant, Rubrik might quickly grow into its lofty valuation.
Glossary
Stake: The amount of ownership or shares an investor holds in a company or fund.
13F assets under management (AUM): The total value of securities reported by institutional investment managers in their quarterly SEC Form 13F filings.
Liquidation: The process of selling all holdings in a particular investment, resulting in a zero position.
Allocation: The percentage of a portfolio or fund invested in a specific asset or security.
Filing period: The specific time frame covered by a regulatory or financial report.
Quarterly average pricing: The average price of a security calculated over a three-month financial quarter.
TTM: The 12-month period ending with the most recent quarterly report.
Data protection: Strategies and technologies used to safeguard digital information from loss, theft, or corruption.
Cyber recovery: The process and tools used to restore data and systems after a cyberattack or data breach.
Security posture management: Continuous monitoring and improvement of an organization's security measures and risk exposure.
Data threat analytics: The use of analytical tools to detect, assess, and respond to potential data security threats.
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Josh Kohn-Lindquist has positions in Alphabet, CrowdStrike, and Nu Holdings. The Motley Fool has positions in and recommends Alphabet, CrowdStrike, Okta, Rubrik, and Zscaler. The Motley Fool recommends Nu Holdings, Pagaya Technologies, and Palo Alto Networks. The Motley Fool has a disclosure policy.
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