My Stock Portfolio Review, April 2025

Portfolio Performance Overview and Key Stock Highlights

Hello, Investor,

Each month, I provide a transparent update on my portfolio performance, covering the latest news on core stock positions and analyzing recent developments across each holding.

For more frequent updates, follow me on X/Twitter and Threads, for visual infographics on Instagram and on SavvyTrader for portfolio changes.

Portfolio Review

Holdings:

Monthly Allocations:

* green (added), orange (trimmed)

Performance (TWR):

Historical performance (TWR):

2020: +110.2% (since 15.04.2020)
2021: +23.7%
2022: -59.6%
2023: +57.3%
2024: +24.9%

Cumulative: +103.4%

---

A recap of my Portfolio in 2025

January:

⬇️ Trim TSLA

⬆️Add DDOG TTD SHOP MNDY GTLB

February:

❌ TSLA

⬇️ Trim NOW NET

⬆️Add AXON

✅New DUOL

April:

⬇️ Trim CRWD AXON

⬆️Add ZS TTD IOT DUOL

Key reasons for changes in my investment portfolio:

I slightly reduced my $CRWD position after the company’s valuation multiples expanded and the stock price rose significantly. However, it remains one of the largest positions in my portfolio.
I slightly trimmed my $AXON position after its valuation increased.
I slightly increased my $ZS position. Zscaler provided a strong forecast for Q1, signaling a potential reversal of the previous revenue growth slowdown. They also added a significant number of new customers. The valuation is now near historical lows.
$TTD shares have dropped -61% from their all-time highs, and valuation multiples look more attractive than ever. The company unexpectedly faced execution challenges in Q4, but some corrective measures have already been taken. I am confident the management team will address the situation. However, I currently hold only a small position (~4% of my portfolio) and will monitor the Q1 results to confirm my optimism.
I slightly increased my $IOT position. The company's valuation multiples have decreased and are now more attractive. Meanwhile, revenue growth remains very high, and profitability is significantly improving.
I slightly increased my $DUOL position. The valuation multiples are reasonable, and revenue growth remains strong.

---

Commentary on my holdings:

Cloudflare NET

Cloudflare announced the acquisition of Outerbase, a developer-focused database platform, to enhance database support across Cloudflare Workers. The move targets simplifying the development of full-stack, AI-enabled applications, especially as AI-driven software creation accelerates.

Outerbase, already built on Cloudflare Workers, will integrate into Durable Objects, D1, and Cloudflare’s Agents SDK, improving interfaces for interacting with data. The goal is to support developers across skill levels by minimizing the need for deep SQL knowledge.

Cloudflare emphasized the strategic importance of accessible, scalable databases as AI adoption increases. The integration is positioned to support high-scale application development directly on Cloudflare’s global network.

Cloudflare introduced new capabilities to support AI agent development, including the first remote Model Context Protocol (MCP) server, free-tier access to Durable Objects, and general availability of Workflows. The updates aim to make building AI agents faster and more accessible.

MCP allows agents to perform tasks directly across services over the Internet, such as sending emails or booking meetings, with persistent context and integrated user permissions through partners like Auth0, Stytch, and WorkOS.

Durable Objects, now available on the free tier, enable stateful, serverless applications that can maintain user-specific context. Cloudflare’s global network ensures low-latency, scalable interactions for millions of users.

Workflows, now generally available, support long-running, multi-step AI applications that can persist for extended durations and retry operations as needed.

Cloudflare has introduced Workers VPC and Workers VPC Private Link, designed to simplify secure, global cross-cloud application development using Cloudflare Workers. Traditional Virtual Private Clouds (VPCs) often restrict developers due to regional limitations, complex networking, and high egress fees. Cloudflare's new solutions aim to remove these limitations by enabling developers to build applications on Workers while securely connecting to external data and systems.

Workers VPC isolates Cloudflare resources within a global network environment, allowing access only within the defined VPC. Workers VPC Private Link extends this by enabling secure connections between a Workers VPC and external VPCs across public or private clouds. This effectively unifies cloud environments, removing barriers to accessing legacy infrastructure or multi-cloud resources.

Both solutions are based on Cloudflare’s private networking infrastructure and are expected to be available later this year.

Rakuten Mobile partnered with Cloudflare to offer Zero Trust managed security services in Japan. As Cloudflare’s first MSSP partner in the country, Rakuten targets SMBs under 1,000 employees with a fully managed cybersecurity solution.

The service combines Cloudflare’s global infrastructure with Rakuten’s regional support, securing remote and cloud environments. In Q1 2025, Cloudflare blocked 385 million cyber threats daily in Japan, with top targets in Retail, Gaming, IT, and Telecom.

Crowdstrike CRWD

CrowdStrike has been recognized as the 2025 Google Cloud Security Partner of the Year for Workload Security, highlighting its role in securing modern cloud environments. The company also expanded its partnership with Google Cloud to provide end-to-end protection for AI innovation through Falcon Cloud Security.

With cloud intrusions at record highs and AI adoption accelerating, CrowdStrike’s unified platform offers protection across infrastructure, workloads, applications, data, and models. Key integrations include AI image scanning, ARM64 compliance enforcement, and container escape detection, ensuring security from build through runtime.

CrowdStrike was named Leader and Fast Mover in the 2025 GigaOm Radar Report for XDR, earning the highest average score in Emerging Features and tying for top score in Key Features. It received perfect 5/5 scores in Threat Detection, Cloud Security Integration, Unified Telemetry, and Scalability.

The Falcon platform, built on a single-agent architecture, combines native and third-party data with AI-powered detection and automated workflows. It provides unified security across endpoint, cloud, identity, data, and Next-Gen SIEM. AI models automatically prioritize alerts, group them by incident, and enable drill-down investigation through Charlotte AI, reducing manual work and improving response time.

Charlotte AI Agentic Detection Triage delivers over 98% accuracy, saving teams 40+ hours per week. Falcon Identity Protection now secures the full identity attack lifecycle. Falcon Cloud Security protects AI infrastructure at scale.

CrowdStrike introduced Falcon Adversary OverWatch Next-Gen SIEM, the first solution to deliver managed threat hunting across third-party data. This extends visibility beyond endpoints, identity, and cloud environments, allowing 24/7 expert detection across unmanaged attack surfaces.

The platform addresses risks from groups like FAMOUS CHOLLIMA and OPERATOR PANDA, who exploit unmanaged infrastructure, edge devices, and siloed systems such as firewalls and VPNs. By hunting across third-party data, CrowdStrike improves detection speed, expands coverage, and strengthens breach prevention.

Falcon Adversary OverWatch uses deep adversary expertise and real-time threat intelligence, while Falcon Next-Gen SIEM unifies native and third-party data with AI-driven automation to deliver comprehensive visibility and faster response.

CrowdStrike introduced Charlotte AI Agentic Response and Charlotte AI Agentic Workflows, enabling autonomous reasoning and action across first- and third-party data within the Falcon platform. Charlotte AI draws conclusions and executes actions independently within expert-defined guardrails.

Falcon Complete Next-Gen MDR with Charlotte AI combines elite analyst triage and agentic AI to drive real-time detection, investigation, and response within one native system.

Innovations include Charlotte AI Agentic Response for faster root cause analysis, Charlotte AI Agentic Workflows through Falcon Fusion SOAR for automated decision-making, and Charlotte AI Agentic Detection Triage for prioritizing identity threats.

Platform updates include Falcon for XIoT with ExPRT.AI, validated by over 12 ICS vendors, and expanded CrowdStrike Pulse Services to operationalize agentic AI and strengthen security maturity.

CrowdStrike and Wipro announced a strategic partnership to modernize global enterprise security operations using Falcon Next-Gen SIEM. Wipro will integrate Falcon into its CyberShield platform to deliver real-time threat detection, reduce operational complexity, and lower total cost of ownership.

Falcon Next-Gen SIEM uses an index-free, cloud-native architecture to support high-speed performance at petabyte scale, avoiding the limitations of traditional SIEMs. The platform unifies first-party and third-party data with AI-powered automation, enabling faster detection and response.

Alex Ionescu has rejoined CrowdStrike as Chief Technology Innovation Officer, bringing deep expertise in operating systems and kernel-level security. As the founding architect of the Falcon platform, Ionescu previously shaped the sensor’s lightweight, high-performance design that underpins CrowdStrike’s core architecture.

Ionescu most recently held senior roles in Canadian national cybersecurity and has contributed to Microsoft, Apple, and Linux projects. He is also co-author of the Windows Internals series and is recognized globally for his technical leadership in operating system security.

CrowdStrike announced new cloud security innovations at RSA 2025, expanding the Falcon platform with tools to secure AI models, cloud data, identities, and SaaS environments. The platform now includes AI Model Scanning to detect malware, trojans, and adversarial manipulations within containerized AI environments before deployment, reducing risks tied to corrupted models. The AI Security Dashboard offers centralized control with visibility into AI workloads and shadow AI.

Falcon Data Protection for Cloud enables real-time runtime monitoring using eBPF, blocking unauthorized data access without performance impact. New SaaS Threat Services provide assessments and detection for cloud-native applications. Falcon Privileged Access removes permanent privileges and enforces Just-in-Time access. CrowdStrike Pulse Services help organizations address cloud misconfigurations and identity risks through modular support. The updates reflect the rising complexity of multi-cloud AI-driven environments and the need for unified, real-time protection across the stack.

CrowdStrike has introduced new Falcon Data Protection capabilities to secure sensitive data across endpoints, cloud, GenAI, and SaaS applications. The update reflects a growing shift in cyber threats from disruption to data theft, with attackers targeting SSO misconfigurations, trusted identities, and GenAI tool misuse to exfiltrate critical information.

The platform now offers runtime protection for cloud data in motion and at rest, using eBPF to block unauthorized transfers in real time. A new feature detects and stops encrypted file exfiltration by inspecting content inside archive formats like 7zip before encryption is finalized. CrowdStrike also introduced GenAI leak prevention, using pattern recognition to detect and block sensitive content uploads to unmanaged AI tools.

Monday MNDY

Monday appointed Casey George as Chief Revenue Officer, effective May 15, 2025. George brings nearly 30 years of go-to-market leadership experience and will be based in New York City, reporting to co-founders Roy Mann and Eran Zinman.

George previously led global sales at Qlik, overseeing 1.3 billion dollars in ARR and managing over 1,000 employees. He also served as CRO at Talend and held senior roles at Verint and IBM, where he was General Manager of North American cybersecurity. At Monday, George will lead revenue strategy and expansion into the enterprise market following a strong fiscal year 2024.

Axon AXON

Axon expanded its real-time public safety network with Axon Outpost and Axon Lightpost, fixed ALPR cameras that join Axon Fleet 3 for advanced vehicle recognition.

The Works With Axon program connects third-party cameras via Axon Fusus, increasing network interoperability. Axon Assistant, an AI voice tool in Axon Body 4, enables hands-free access to translation, policy, and online information.

Integration with Ring allows users to share video with law enforcement to accelerate investigations. Axon advances its vision for a collaborative, AI-driven safety platform.

Snowflake SNOW

Snowflake announced expanded support for Apache Iceberg, offering customers access to open table formats without sacrificing performance, governance, or security. This integration allows data to be activated with zero movement, helping organizations advance open lakehouse architectures and AI strategies.

Customers can now run Iceberg tables on Snowflake’s compute engine and use features like Search Optimization and Query Acceleration Services. Snowflake also introduced data replication and disaster recovery for Iceberg (currently in private preview), bringing enhanced resilience to open data environments.

Snowflake is enabling secure data sharing across Iceberg tables, aligning with its broader investment in open data ecosystems. Thirty-five percent of Snowflake’s acquisitions over the past four years supported this strategy. Key contributions include Apache Iceberg, Apache Polaris, and integrations with technologies like Modin, Datavolo, Streamlit, and TruEra.

Customer feedback highlights Iceberg’s impact. Illumina improved data agility in manufacturing operations. Komodo Health accelerated insights from healthcare data using Iceberg and Polaris. Medidata cited increased speed and usability for clinical data. WHOOP emphasized interoperability without vendor lock-in.

Snowflake announced it has achieved Department of Defense (DOD) Impact Level 5 (IL5) Provisional Authorization on AWS GovCloud US-West. This authorization allows Snowflake to support Controlled Unclassified Information (CUI) workloads for the DOD, enabling secure collaboration, data sharing, and AI-driven insights for mission-critical operations.

The IL5 authorization, granted by DISA, is valid across all branches of the U.S. military and extends to industry mission partners and eligible Federal and State agencies. Use cases include financial management, enterprise operations, supply chain, cybersecurity, and open-source intelligence. The platform provides unified data governance through Snowflake Horizon and supports AI/ML workloads at scale.

This milestone follows the launch of Snowflake Public Sector, Inc., a subsidiary focused on Federal, Defense, State and local government, and education markets. Snowflake’s IL5 compliance enhances its ability to support national security objectives through secure, cloud-native infrastructure.

Snowflake released the Radical ROI of Generative AI report, showing that 92% of early adopters are already seeing ROI from AI investments, and 98% plan to increase spending in 2025. On average, companies are reporting a 41% return, gaining $1.41 for every dollar spent through cost savings and revenue growth.

Regional ROI varies, with Australia and New Zealand at 44%, Canada and the US at 43%, and France and Japan reporting 31% and 30%, respectively. Despite success, 58% say preparing data for AI remains a key challenge, particularly in integrating data, enforcing governance, and scaling infrastructure.

71% of early adopters struggle to fund all potential use cases. 54% find it hard to choose the right ones based on cost and impact. 59% fear job loss from backing the wrong initiatives.

Datadog DDOG

Datadog has acquired Metaplane, a data observability platform that uses machine learning to monitor data quality across the entire data lifecycle. The acquisition expands Datadog’s footprint in the rapidly growing data observability market and enhances its portfolio, which includes Data Jobs Monitoring and Data Streams Monitoring.

Metaplane offers column-level lineage and anomaly detection, extending visibility beyond data warehouses to the full data pipeline. This level of observability is critical as data teams become key players in developing AI applications and data products.

Datadog released the State of DevSecOps 2025 report, showing that after applying runtime context, only 18% of vulnerabilities with a critical CVSS score remained truly critical. Runtime context included factors like production deployment and internet exposure, significantly reducing noise for security teams.

Datadog was named a Leader in the Forrester Wave: AIOps Platforms, Q2 2025, receiving the highest score possible in categories including innovation, log management, data governance, cloud and infrastructure, APM, and incident mitigation.

Datadog’s AIOps capabilities, including Bits AI, Watchdog, and Event Management, support DevOps teams by reducing alert noise and enabling faster, more informed responses. Forrester highlighted Datadog’s superior data governance and its Observability Graph as key strengths for operational efficiency and growth.

Zscaler ZS

Zscaler released its 2025 VPN Risk Report, showing growing enterprise concerns over VPN security and compliance. 92 percent of organizations fear ransomware attacks due to VPN vulnerabilities, while 93 percent are concerned about backdoor risks from third-party VPN access. 81 percent plan to adopt Zero Trust architecture within the next year.

The report underscores the shift from traditional VPNs to Zero Trust Everywhere. Organizations aim to reduce the attack surface, prevent lateral movement, and simplify operations through identity-based access controls, least-privilege policies, and AI-driven monitoring. The data supports a clear trend: enterprises are replacing legacy VPNs with scalable Zero Trust frameworks to secure hybrid work environments.

Zscaler’s 2025 Phishing Report analyzed 2 billion+ phishing attempts and found a shift to AI-driven, targeted attacks. Global phishing dropped 20%, but focus shifted to IT, HR, finance, and payroll teams.

ServiceNow NOW

The company reported its first quarter of 2025 results.

Thoughts on ServiceNow Earnings Report $NOW:

🟢 Positive

• Revenue reached $3.088B, up +18.6% YoY and +21.3% QoQ, beating estimates by 0.1%

• Subscription revenue grew +19.1% YoY to $3.005B

• cRPO rose +22.0% YoY to $10.31B, RPO up +24.9% YoY to $22.10B

• Operating margin increased to 30.9%, up +0.5 PPs YoY

• FCF margin improved to 47.8%, up +0.8 PPs YoY

• EPS of $4.04, beat estimates by 4.9%

• 508 customers with $5M+ ACV, up +19.5% YoY

• S&M, R&D, G&A expenses as % of revenue decreased YoY

• Pro Plus deals quadrupled YoY, included in 15 of top 20 deals

• Creator Plus deal sizes tripled QoQ

• Wells Fargo, Adobe, Vodafone among major enterprise AI adopters

• Public sector ACV up +30% YoY with 11 $1M+ deals and 6 new federal logos

• FY25 revenue guidance raised to $12.64B–$12.68B, +18.9% YoY

🟡 Neutral

• Gross margin at 82.1%, down -1.4 PPs YoY

• Subscription GM at 82.0%, down -1.0 PPs YoY

• Renewal rate remained flat at 98%

• Basic shares increased +0.9% YoY, diluted shares up +0.6% YoY

• CAC payback lengthened to 23.2 months, up +6.6 months YoY

• Stock-based comp/revenue declined slightly to 15%

🔴 Negative

• Net new ARR declined -12.0% YoY to $556M

• R&D Index (RDI) fell to 1.08, down -0.32 YoY

• CRM incumbents present continued competitive pressure

• Scaling RaptorDB across legacy systems remains a challenge

• AI competition poses ongoing pricing and innovation risk

Market Reaction to Earnings Release: The stock price up +10.2% following the earnings release.

Gitlab GTLB

GitLab has been recognized by Google Cloud as the 2025 Technology Partner of the Year in the Application Development – DevOps category. This marks the fifth consecutive year of recognition for GitLab, highlighting its continued collaboration with Google Cloud since 2018.

Over the past year, GitLab expanded platform integrations with key Google Cloud services, including Identity and Access Management (IAM), Workload Identity Federation, Artifact Registry, and Compute Engine. The enhancements provide joint customers with unified visibility across the entire software development lifecycle, helping reduce tool fragmentation and context switching.

Samsara IOT

Samsara reported that thousands of construction companies have adopted its Connected Operations Platform to manage complex mixed fleets. In Q4 FY25, construction contributed the highest net new ACV mix for the sixth straight quarter.

The platform provides AI-powered solutions for real-time fleet visibility, safety coaching, asset tracking, and operational efficiency. Customers have reported reduced accidents, lower fuel costs, and improved asset recovery.

Examples include Cable East, which recovered 2.5 million dollars worth of assets, Emery Sapp & Sons, which saw a 25 percent drop in at-fault accidents, and Fox Brothers, which reduced mobile phone use by 86 percent and seatbelt violations by 91 percent. Sterling Crane Canada cut maintenance costs by over 3 million dollars, and The Rasmussen Group reduced phone use while driving by 90 percent and stop sign violations by 70 percent.

OMC Global implemented Samsara’s Connected Operations Platform to enable real-time vehicle tracking, allowing customers to monitor location and ETA from their phones. This eliminated the need for manual delay reporting and improved communication accuracy.

With AI dash cams and Vehicle Gateways, Samsara provided insights into driving behavior, helping detect speeding, phone use, and harsh braking. Event-based footage is uploaded to a secure dashboard for review and coaching.

Access to incident footage has improved claim handling and helped exonerate drivers, contributing to a 15% reduction in insurance premiums. Driver coaching also cut fuel use by 200 litres in the first three months.

Samsara drivers value AI safety tools, real-time feedback, and the top-rated Driver App for its ease of use. AI detects distractions, supports coaching, and highlights safe driving.

DHL Supply Chain cut driver turnover by 50% using the platform. Positive Recognition rewards compliance and fuel efficiency. Over 300 million workflows were digitized in a year, improving efficiency and reducing admin work.

Samsara launched EBPMS to meet DVSA's April 2025 brake testing rules. The system tracks brake performance in real time and can save up to £1,200 per trailer annually by reducing manual tests.

Fox Brothers and Conway Bailey Transport will use EBPMS to cut downtime and simplify compliance. Data is collected through the Asset Gateway for automated monitoring.

Samsara also introduced TPMS in open beta, sending real-time alerts on tyre pressure and temperature, supporting EU-aligned safety standards.

Smart Trailer features include GPS tracking, geofencing, and security sensors, all visible through a unified platform for better maintenance and asset use.

AO, a leading UK electricals retailer, deployed Samsara’s Connected Operations Platform across its 1,000+ vehicle fleet, achieving 16% annual cost savings and reducing road incidents.

Digital Driver App replaced manual vehicle walkarounds, improving efficiency. AI-driven maintenance cut costs by 31%, reduced tyre spend by 8%, and helped lower insurance premiums by 25% through fewer accidents.

In-cab alerts and AI dash cams improved driver behavior and enabled targeted coaching. The introduction of a Driver Safety Score raised safety standards and created a performance-driven culture.

Mongodb MDB

MongoDB announced the appointment of Mike Berry as Chief Financial Officer, effective May 27, 2025. Berry brings over 30 years of experience in the technology and software sector, having previously served as CFO at NetApp, McAfee, FireEye, Informatica, IO, SolarWinds, and i2 Technologies. At NetApp, Berry spent five years leading financial operations and scaling the business toward $5 billion in revenue.

---

Thank you for reading!

Follow me for frequent updates on key news on X/Twitter and Threads @SergeyCYW and for visual infographics on Instagram.

For portfolio changes, follow me on SavvyTrader, where you'll find: current portfolio holdings, portfolio performance, trade alerts, and trade history.

Past recaps:

March 2025
February 2025
January 2025
December 2024
November 2024
October 2024
September 2024
August 2024
July 2024
June 2024
May 2024
April 2024
March 2024

Disclaimer: This portfolio summary is for informational purposes only and not investment advice. Opinions are my own; please conduct your own due diligence.