SCHEDULE: ICONIQ Entities & Key Principals Update Procore Stake

ICONIQ Strategic Partners and its principals, Divesh Makan, William J.G. Griffith, and Matthew Jacobson, have updated their beneficial ownership in Procore Technologies, Inc. as of December 31, 2025.

Summary

• ICONIQ Strategic Partners and its principals, Divesh Makan, William J.G. Griffith, and Matthew Jacobson, have filed an Amendment No. 6 to Schedule 13G for Procore Technologies, Inc.
• As of December 31, 2025, William J.G. Griffith beneficially owns 18,372,929 shares, representing 11.8% of Procore's common stock.
• Divesh Makan beneficially owns 17,970,312 shares, representing 11.6% of Procore's common stock.
• Matthew Jacobson beneficially owns 9,268,586 shares, representing 6.0% of Procore's common stock.
• These ownership percentages are calculated based on 155,469,860 shares of Common Stock outstanding as of October 31, 2025.
• Various ICONIQ Strategic Partners funds (III, IV, V, VI) and their general partners hold significant stakes, with ICONIQ Strategic Partners III GP, L.P. and ICONIQ Strategic Partners III TT GP, Ltd. each beneficially owning 4.5% of the outstanding shares.
• ICONIQ Strategic Partners II funds and related entities report 0% beneficial ownership.
• ICONIQ Capital, LLC and its related entities report less than 0.1% beneficial ownership (1,088 shares) through managed accounts, noting no pecuniary interest in these shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It is a standard regulatory disclosure of beneficial ownership and does not contain information that would inherently sway sentiment positively or negatively regarding the company's operational performance or future prospects.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that this filing is a routine disclosure of beneficial ownership by institutional investors and their principals, common for publicly traded technology companies like Procore Technologies. The significant stakes held by ICONIQ and its key individuals indicate continued investor interest and a long-term position in the company, which is typical for venture capital or growth equity firms that have supported companies through various stages.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional and individual ownership stakes, which can influence market perception and understanding of the company's investor base.
• Company Management: Awareness of substantial ownership by key investors like ICONIQ and its principals, which may imply ongoing engagement or oversight.

Key Dates

Keywords

Procore Technologies, ICONIQ Strategic Partners, beneficial ownership, Schedule 13G, institutional investor, equity stake, SEC filing