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Asset Manager ← All Institutions

HERALD INVESTMENT MANAGEMENT Ltd

Q4 2025 · Filed 2026-02-13
Market Value
$742M
+2.1%
Holdings
94
+2
New Purchases
7
Added To
24
Closed
3
Reduced
19
Top 10 Concentration
42.3%
Turnover
10.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VICR 3.62% 1.71% +1.91% $27M
DOCN 1.31% 0.00% +1.31% $10M
PLUS 0.88% 0.00% +0.88% $7M
TSEM 2.84% 1.97% +0.87% $21M
VIAV 0.66% 0.00% +0.66% $5M
BRZE 0.58% 0.00% +0.58% $4M
POWI 0.72% 0.21% +0.51% $5M
MU 1.29% 0.83% +0.46% $10M
POWL 0.43% 0.00% +0.43% $3M
CSGS 0.43% 0.00% +0.43% $3M
VPG 0.99% 0.66% +0.33% $7M
FROG 1.93% 1.63% +0.31% $14M
ALNT 0.29% 0.00% +0.29% $2M
AIP 0.83% 0.56% +0.28% $6M
FORM 0.81% 0.59% +0.22% $6M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CLS 9.15% 11.36% -2.21% $68M
SMCI 2.80% 4.75% -1.95% $21M
VRNS 2.14% 3.51% -1.37% $16M
FN 6.60% 7.32% -0.72% $49M
AVDX 0.00% 0.69% -0.69% $0
CCOI 0.71% 1.28% -0.58% $5M
ARLO 2.47% 2.98% -0.52% $18M
DRS 1.31% 1.78% -0.47% $10M
RDWR 2.19% 2.46% -0.27% $16M
TGEN 0.28% 0.54% -0.26% $2M
LTRX 0.00% 0.25% -0.25% $0
DSGX 2.19% 2.40% -0.21% $16M
SIMO 4.81% 5.01% -0.21% $36M
RBBN 0.31% 0.48% -0.17% $2M
VERX 0.54% 0.68% -0.14% $4M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 8 $59M 7.9%
Large Cap 15 $231M 31.1%
Mid Cap 27 $234M 31.6%
Small Cap 31 $188M 25.4%
Micro Cap 13 $30M 4.0%

Portfolio Analytics

Avg Market Cap
$194.4B
Median Market Cap
$2.2B
Avg P/E
67.6
Median P/E
44.0
Avg Dividend Yield
0.00%
Avg Beta
1.27
# Stocks
94
# ETFs / Funds
0

Top Holdings (94 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 CLS 9.15% 229,500 $68M $295.74 -$15M -105,500 -31.5%
2 FN 6.60% 107,600 $49M $454.83 -$4M -38,000 -26.1%
3 PEGA 5.66% 703,600 $42M $59.69 $2M
4 SIMO 4.81% 384,906 $36M $92.60 -$754K
5 VICR 3.62% 245,000 $27M $109.59 $14M -5,000 -2.0%
6 TSEM 2.84% 180,000 $21M $117.20 $7M -18,000 -9.1%
7 SMCI 2.80% 709,500 $21M $29.25 -$14M -10,000 -1.4%
8 ARLO 2.47% 1,307,000 $18M $13.99 -$3M +30,000 +2.4%
9 RDWR 2.19% 675,000 $16M $24.08 -$2M
10 DSGX 2.19% 185,000 $16M $87.64 -$1M
11 VRNS 2.14% 483,500 $16M $32.79 -$10M +40,000 +9.0%
12 FROG 1.93% 230,000 $14M $62.35 $3M -20,000 -8.0%
13 GOOGL 1.86% 44,100 $14M $312.94 $2M -6,100 -12.2%
14 KLIC 1.69% 276,100 $13M $45.52 $535K -20,000 -6.8%
15 MSFT 1.68% 25,800 $12M $483.60 -$109K +1,500 +6.2%
16 AVPT 1.59% 850,000 $12M $13.89 $1M +150,000 +21.4%
17 ALKT 1.56% 500,000 $12M $23.08 $2M +100,000 +25.0%
18 AMZN 1.54% 49,400 $11M $230.82 $1M +3,000 +6.5%
19 RDVT 1.53% 200,000 $11M $56.92 $932K
20 CEVA 1.51% 520,000 $11M $21.53 -$689K +70,000 +15.6%
21 DRS 1.31% 285,000 $10M $34.08 -$3M
22 DOCN 1.31% 202,000 $10M $48.06 +202,000 NEW
23 MU 1.29% 33,500 $10M $285.31 $4M -2,500 -6.9%
24 QLYS 1.16% 65,000 $9M $132.78 $27K
25 LASR 1.09% 215,000 $8M $37.47 $649K -35,000 -14.0%
26 HLIT 1.05% 785,000 $8M $9.89 -$236K
27 CLMB 1.04% 75,000 $8M $102.79 $968K +25,000 +50.0%
28 MRAM 1.00% 800,000 $7M $9.24 -$24K
29 VPG 0.99% 190,000 $7M $38.51 $3M +40,000 +26.7%
30 FIVN 0.98% 362,000 $7M $20.04 $427K +80,000 +28.4%
31 PLUS 0.88% 75,000 $7M $87.44 +75,000 NEW
32 IDN 0.87% 975,569 $6M $6.65 $1M -24,431 -2.4%
33 PDFS 0.87% 225,000 $6M $28.53 $1M +25,000 +12.5%
34 SPSC 0.84% 70,000 $6M $89.13 $513K +15,000 +27.3%
35 AIP 0.83% 400,000 $6M $15.48 $2M
36 FORM 0.81% 108,300 $6M $55.74 $2M -10,000 -8.4%
37 FA 0.78% 400,000 $6M $14.51 $187K +35,000 +9.6%
38 VECO 0.77% 200,000 $6M $28.55 -$378K
39 AAPL 0.75% 20,400 $6M $271.84 $353K
40 POWI 0.72% 150,000 $5M $35.53 $4M +112,000 +294.7%
41 CCOI 0.71% 242,600 $5M $21.56 -$4M
42 DGII 0.70% 120,000 $5M $43.29 $2M +20,000 +20.0%
43 BELFB 0.68% 30,000 $5M $169.34 $850K
44 VIAV 0.66% 275,000 $5M $17.82 +275,000 NEW
45 SMWB 0.65% 645,465 $5M $7.52 -$726K +45,465 +7.6%
46 CTS 0.64% 110,000 $5M $42.85 $720K +10,000 +10.0%
47 HSTM 0.62% 200,000 $5M $23.05 -$756K +10,000 +5.3%
48 AMD 0.60% 20,720 $4M $214.12 -$565K -10,200 -33.0%
49 KOPN 0.60% 1,900,000 $4M $2.33 -$433K -100,000 -5.0%
50 QUIK 0.59% 730,379 $4M $5.97 -$58K
51 WK 0.58% 50,000 $4M $86.35 $15K
52 BRZE 0.58% 125,000 $4M $34.29 +125,000 NEW
53 RDCM 0.57% 325,000 $4M $12.97 -$57K +25,000 +8.3%
54 NOVT 0.56% 35,000 $4M $118.97 $2M +10,000 +40.0%
55 VERX 0.54% 200,000 $4M $19.97 -$964K
56 MLAB 0.53% 50,000 $4M $78.31 $575K
57 RMNI 0.52% 1,000,000 $4M $3.87 -$108K +150,000 +17.6%
58 SLP 0.49% 200,000 $4M $18.21 $626K
59 SLAB 0.48% 27,500 $4M $130.54 -$16K
60 MPTI 0.48% 67,000 $4M $53.08 $521K +12,000 +21.8%
61 AVNW 0.45% 155,000 $3M $21.38 -$240K
62 PATH 0.45% 202,280 $3M $16.37 $1M +41,000 +25.4%
63 HIMX 0.44% 400,000 $3M $8.19 -$252K
64 BAND 0.44% 210,000 $3M $15.45 -$256K
65 TER 0.43% 16,600 $3M $193.38 $376K -4,000 -19.4%
66 POWL 0.43% 10,000 $3M $318.51 +10,000 NEW
67 CSGS 0.43% 41,240 $3M $76.61 +41,240 NEW
68 NABL 0.42% 413,000 $3M $7.47 -$132K
69 OOMA 0.41% 260,000 $3M $11.71 -$73K
70 APPS 0.40% 600,000 $3M $4.99 -$846K
71 FC 0.40% 175,000 $3M $16.76 -$464K
72 BIGC 0.39% 700,000 $3M $4.11 -$616K
73 OSPN 0.35% 200,000 $3M $12.84 -$610K
74 ANET 0.33% 18,700 $2M $130.98 -$858K -4,000 -17.6%
75 FRSH 0.31% 190,000 $2M $12.25 $95K
76 RBBN 0.31% 800,000 $2M $2.88 -$1M -112,869 -12.4%
77 ZM 0.30% 25,910 $2M $86.29 $99K
78 DT 0.29% 50,000 $2M $43.33 -$256K
79 ALNT 0.29% 40,000 $2M $53.51 +40,000 NEW
80 KD 0.29% 80,000 $2M $26.56 $113K +13,000 +19.4%
81 TGEN 0.28% 420,000 $2M $4.96 -$2M -26,078 -5.8%
82 SILC 0.24% 125,000 $2M $14.44 -$406K
83 CKP 0.23% 9,200 $2M $185.28 -$199K
84 ARW 0.23% 15,200 $2M $110.21 -$162K
85 GNSS 0.20% 700,000 $1M $2.14 -$324K -50,000 -6.7%
86 VLN 0.18% 950,000 $1M $1.41 -$361K
87 FORR 0.16% 150,000 $1M $8.11 -$372K
88 BELFA 0.15% 7,500 $1M $151.00 $260K
89 AWRE 0.11% 430,000 $796K $1.85 -$215K
90 TXN 0.10% 4,100 $711K $173.45 -$42K
91 INTC 0.09% 19,000 $701K $36.91 $64K
92 LTRX —% -$2M -400,000 -100.0% SOLD
93 AVDX —% -$5M -500,000 -100.0% SOLD
94 ISDR —% -$956K -90,000 -100.0% SOLD

New Positions

SymbolValue% Port
DOCN $10M 1.31%
PLUS $7M 0.88%
VIAV $5M 0.66%
BRZE $4M 0.58%
POWL $3M 0.43%
CSGS $3M 0.43%
ALNT $2M 0.29%

Sold Out Positions

SymbolValue% Port
LTRX —%
ISDR —%
AVDX —%
View SEC EDGAR Filings for HERALD INVESTMENT MANAGEMENT Ltd →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms