OBERNDORF WILLIAM E Dumps 74,000 monday.com Shares in Q1 Exit
Key Points
Sold 73,705 shares of monday.com; estimated transaction value of $7.07 million based on average first-quarter prices.
Net position value decreased by $10.88 million, reflecting both trading activity and price moves during the quarter.
Transaction represented 13.3% of 13F reportable AUM.
Fund now holds zero shares in monday.com, with a post-trade position value of $0.
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On May 14, 2026, OBERNDORF WILLIAM E, the fund controlled by investor William Oberndorf disclosed it exited its entire stake in monday.com (NASDAQ:MNDY).
What happened
According to its SEC filing dated May 14, 2026, the fund sold all 73,705 shares of monday.com in the first quarter. The estimated value of the trade was $7.07 million using the mean unadjusted close during the period. The net position value dropped by $10.88 million, a figure that includes both the impact of share sales and price movement.
What else to know
- This was a full exit; post-sale, monday.com represents 0% of the fund's reportable AUM.
- Top holdings after the filing:
- NYSE: UNH: $9.62 million (18.0% of AUM)
- NYSE: GWRE: $9.24 million (17.3% of AUM)
- NYSEMKT: PHYS: $7.95 million (14.9% of AUM)
- NYSE: VEEV: $7.93 million (14.9% of AUM)
- NASDAQ: AMZN: $7.50 million (14.1% of AUM)
- As of May 13, 2026, shares of monday.com were priced at $67.70, down 76.7% over the past year, underperforming the S&P 500 by 103.16 percentage points.
- The fund is undergoing a downsizing, with 32% lower AUM quarter-over-quarter.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $1.23 billion |
| Net Income (TTM) | $119.35 million |
| Price (as of market close May 13, 2026) | $67.70 |
| 1-Year Price Change | (76.69%) |
Company snapshot
- Offers a cloud-based Work OS platform enabling organizations to build custom workflow applications for project management, CRM, marketing, and software development.
- Offers business development and customer success services in addition to its core software platform.
- Serves a diverse global customer base, including enterprises, educational and government institutions, and business units across multiple regions.
monday.com is a technology company specializing in flexible work management software, with operations spanning the United States, Europe, the Middle East, Africa, and internationally. The company leverages a modular, cloud-based platform to help organizations streamline operations and enhance productivity. Its scalable SaaS model and broad product suite position it competitively within the global enterprise software market.
What this transaction means for investors
The fund managed by William Oberndorf has unloaded its monday.com in a broad sell-off of stocks for the fund.
Indeed, the performance of SaaS stocks like monday.com is on the decline as many software platforms have been replaced by software packages created on AI engines at a significantly lower cost.
Oberndorf did not reveal why he unloaded his entire monday.com stake. However, it is worth noting that monday.com was the only position completely liquidated.
Moreover, as previously mentioned, Oberndorf reduced AUM by 32% over one quarter. With that, the sell-off also included significantly reduced stakes in the Sprott Physical Gold Trust, Amazon, and Autodesk .
Investors should also note that Oberndorf increased his Veeva Systems stake by 52%, so we can assume the fund is still finding stocks it likes to buy in this environment.
As for monday.com, investors can only speculate as to what the motivation was behind the sale. However, given Oberndorf’s other movements, his fund more than likely lost faith in monday.com at the same time it wanted to increase the amount of capital available for other opportunities.
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Will Healy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Autodesk, Monday.com, and Veeva Systems. The Motley Fool recommends UnitedHealth Group. The Motley Fool has a disclosure policy.
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