Polen Capital Management
Polen Capital Management
Latest 13F filing
Q4 2025
filed Feb 12, 2026
Portfolio value
$23.42B
Positions
231
Top 10 concentration
58.3%
QoQ change
-24.0%
$-7.38B
Activity vs. Q3 2025
56
New positions
47
Added to
9
Unchanged
119
Reduced
173
Exited
Portfolio composition — Q4 2025
- AMZNAMAZON COM INC8.5%
- MSFTMICROSOFT CORP8.1%
- ORCLORACLE CORP6.0%
- LLYELI LILLY & CO5.7%
- GOOGALPHABET INC5.4%
- AVGOBROADCOM INC5.2%
- MAMASTERCARD INCORPORATED5.2%
- VVISA INC5.1%
- SHOPSHOPIFY INC4.9%
- NVDANVIDIA CORPORATION4.2%
- Other221 more positions41.7%
Top buys
New & added positions, by size
Top sells
Reduced & exited positions, biggest cuts first
- PCTEXITPURECYCLE TECHNOLOGIES INC-100.0%Exited
- NVEEUSDEXITNV5 GLOBAL INC-100.0%Exited
- VISTEXITVISTA ENERGY S.A.B. DE C.V.-100.0%Exited
- FET 9 08/04/25EXITFORUM ENERGY TECHNOLOGIES IN-100.0%Exited
- MLREXITMILLER INDS INC TENN-100.0%Exited
Holdings as of Q4 2025
| # | Ticker | Issuer | Shares | Value | % Portfolio | Reported price | Action | Δ Shares |
|---|---|---|---|---|---|---|---|---|
| 1 | AMZN | AMAZON COM INC | 8,653,721 | $2.00B | 8.53% | $230.82 | REDUCE | -23.1% |
| 2 | MSFT | MICROSOFT CORP | 3,909,985 | $1.89B | 8.07% | $483.62 | REDUCE | -22.1% |
| 3 | ORCL | ORACLE CORP | 7,185,496 | $1.40B | 5.98% | $194.91 | REDUCE | -22.6% |
| 4 | LLY | ELI LILLY & CO | 1,246,090 | $1.34B | 5.72% | $1074.68 | REDUCE | -23.2% |
| 5 | GOOG | ALPHABET INC | 4,018,121 | $1.26B | 5.38% | $313.80 | REDUCE | -13.4% |
| 6 | AVGO | BROADCOM INC | 3,531,637 | $1.22B | 5.22% | $346.10 | REDUCE | -21.3% |
| 7 | MA | MASTERCARD INCORPORATED | 2,131,727 | $1.22B | 5.20% | $570.88 | REDUCE | -22.2% |
| 8 | V | VISA INC | 3,375,342 | $1.18B | 5.05% | $350.71 | REDUCE | -22.2% |
| 9 | SHOP | SHOPIFY INC | 7,201,872 | $1.16B | 4.95% | $160.97 | REDUCE | -34.9% |
| 10 | NVDA | NVIDIA CORPORATION | 5,328,112 | $993.69M | 4.24% | $186.50 | REDUCE | -15.4% |
| 11 | NOW | SERVICENOW INC | 5,680,788 | $870.24M | 3.72% | $153.19 | ADD | +405.4% |
| 12 | MSCI | MSCI INC | 1,331,085 | $763.68M | 3.26% | $573.73 | REDUCE | -16.0% |
| 13 | ZTS | ZOETIS INC | 5,562,669 | $699.89M | 2.99% | $125.82 | REDUCE | -26.0% |
| 14 | AON | AON PLC | 1,846,294 | $651.52M | 2.78% | $352.88 | REDUCE | -25.9% |
| 15 | IDXX | IDEXX LABS INC | 960,537 | $649.83M | 2.77% | $676.53 | REDUCE | -14.8% |
| 16 | SBUX | STARBUCKS CORP | 6,785,308 | $571.39M | 2.44% | $84.21 | REDUCE | -23.6% |
| 17 | ACN | ACCENTURE PLC IRELAND | 1,882,707 | $505.13M | 2.16% | $268.30 | REDUCE | -23.5% |
| 18 | ABT | ABBOTT LABS | 3,962,230 | $496.43M | 2.12% | $125.29 | REDUCE | -46.6% |
| 19 | ISRG | INTUITIVE SURGICAL INC | 842,618 | $477.22M | 2.04% | $566.36 | NEW | — |
| 20 | ADBE | ADOBE INC | 1,345,588 | $470.94M | 2.01% | $349.99 | REDUCE | -27.5% |
| 21 | ABNB | AIRBNB INC | 3,030,730 | $411.33M | 1.76% | $135.72 | REDUCE | -23.7% |
| 22 | SNPS | SYNOPSYS INC | 844,881 | $396.86M | 1.69% | $469.72 | REDUCE | -19.1% |
| 23 | BSX | BOSTON SCIENTIFIC CORP | 4,019,552 | $383.26M | 1.64% | $95.35 | REDUCE | -28.2% |
| 24 | IWF | ISHARES TR | 776,086 | $367.32M | 1.57% | $473.30 | ADD | +240.6% |
| 25 | INTU | INTUIT | 512,656 | $339.59M | 1.45% | $662.42 | REDUCE | -22.5% |
| 26 | CSGP | COSTAR GROUP INC | 4,890,936 | $328.87M | 1.40% | $67.24 | REDUCE | -23.4% |
| 27 | PAYC | PAYCOM SOFTWARE INC | 1,835,028 | $292.43M | 1.25% | $159.36 | REDUCE | -30.4% |
| 28 | UBER | UBER TECHNOLOGIES INC | 3,565,793 | $291.36M | 1.24% | $81.71 | REDUCE | -22.0% |
| 29 | MELI | MERCADOLIBRE INC | 47,920 | $96.52M | 0.41% | $2014.26 | REDUCE | -3.2% |
| 30 | ACWI | ISHARES TR | 610,133 | $86.33M | 0.37% | $141.49 | ADD | +220.4% |
| 31 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | 200,593 | $60.96M | 0.26% | $303.89 | ADD | +13.3% |
| 32 | SAP | SAP SE | 233,332 | $56.68M | 0.24% | $242.91 | REDUCE | -32.4% |
| 33 | SPOT | SPOTIFY TECHNOLOGY S A | 71,658 | $41.61M | 0.18% | $580.71 | ADD | +547.0% |
| 34 | NU | NU HLDGS LTD | 1,157,836 | $19.38M | 0.08% | $16.74 | REDUCE | -24.9% |
| 35 | ICLR | ICON PLC | 105,206 | $19.17M | 0.08% | $182.22 | REDUCE | -76.3% |
| 36 | NFLX | NETFLIX INC | 173,797 | $16.30M | 0.07% | $93.76 | REDUCE | -63.7% |
| 37 | VUG | VANGUARD INDEX FDS | 33,124 | $16.16M | 0.07% | $487.86 | ADD | +184.9% |
| 38 | HDB | HDFC BANK LTD | 367,007 | $13.41M | 0.06% | $36.54 | REDUCE | -38.1% |
| 39 | ASML | ASML HOLDING N V | 11,195 | $11.98M | 0.05% | $1069.88 | REDUCE | -43.5% |
| 40 | MNDY | MONDAY COM LTD | 79,332 | $11.71M | 0.05% | $147.56 | REDUCE | -36.9% |
| 41 | GOOGL | ALPHABET INC | 30,864 | $9.66M | 0.04% | $313.00 | REDUCE | -93.5% |
| 42 | IVV | ISHARES TR | 13,669 | $9.36M | 0.04% | $684.94 | NEW | — |
| 43 | ONON | ON HLDG AG | 194,483 | $9.04M | 0.04% | $46.48 | REDUCE | -24.7% |
| 44 | WTW | WILLIS TOWERS WATSON PLC LTD | 27,425 | $9.01M | 0.04% | $328.60 | REDUCE | -87.5% |
| 45 | ACWX | ISHARES TR | 126,761 | $8.51M | 0.04% | $67.13 | ADD | +105.7% |
| 46 | BE | BLOOM ENERGY CORP | 97,034 | $8.43M | 0.04% | $86.89 | REDUCE | -26.1% |
| 47 | MDT | MEDTRONIC PLC | 84,500 | $8.12M | 0.03% | $96.06 | REDUCE | -32.4% |
| 48 | AGX | ARGAN INC | 24,886 | $7.80M | 0.03% | $313.32 | REDUCE | -33.7% |
| 49 | WGS | GENEDX HOLDINGS CORP | 59,861 | $7.79M | 0.03% | $130.06 | REDUCE | -12.2% |
| 50 | BWXT | BWX TECHNOLOGIES INC | 44,828 | $7.75M | 0.03% | $172.84 | ADD | +22.0% |
| 51 | TME | TENCENT MUSIC ENTMT GROUP | 412,467 | $7.23M | 0.03% | $17.53 | REDUCE | -26.5% |
| 52 | DLO | DLOCAL LTD | 466,809 | $6.60M | 0.03% | $14.14 | REDUCE | -33.3% |
| 53 | POWL | POWELL INDS INC | 20,341 | $6.48M | 0.03% | $318.78 | REDUCE | -12.9% |
| 54 | VSEC | VSE CORP | 34,390 | $5.94M | 0.03% | $172.77 | REDUCE | -0.1% |
| 55 | GLOB | GLOBANT S A | 90,462 | $5.91M | 0.03% | $65.37 | REDUCE | -33.0% |
| 56 | SE | SEA LTD | 42,710 | $5.45M | 0.02% | $127.57 | REDUCE | -39.2% |
| 57 | ADPT | ADAPTIVE BIOTECHNOLOGIES COR | 325,767 | $5.29M | 0.02% | $16.24 | ADD | +11.9% |
| 58 | VT | VANGUARD INTL EQUITY INDEX F | 33,592 | $4.74M | 0.02% | $141.06 | ADD | +632.5% |
| 59 | SPY | SPDR S&P 500 ETF TR | 6,717 | $4.58M | 0.02% | $681.96 | ADD | +167.9% |
| 60 | — | MAKEMYTRIP LIMITED MAURITIUS | 53,658 | $4.41M | 0.02% | $82.12 | REDUCE | -38.5% |
| 61 | RHLD | RESOLUTE HLDGS MGMT INC | 20,915 | $4.32M | 0.02% | $206.43 | — | 0% |
| 62 | IESC | IES HLDGS INC | 10,941 | $4.26M | 0.02% | $389.02 | REDUCE | -9.9% |
| 63 | CECO | CECO ENVIRONMENTAL CORP | 69,775 | $4.18M | 0.02% | $59.85 | ADD | +15.9% |
| 64 | SOFI | SOFI TECHNOLOGIES INC | 159,250 | $4.17M | 0.02% | $26.18 | ADD | +11.2% |
| 65 | BELFB | BEL FUSE INC | 22,522 | $3.82M | 0.02% | $169.63 | ADD | +15.3% |
| 66 | CVNA | CARVANA CO | 8,974 | $3.79M | 0.02% | $422.02 | REDUCE | -14.2% |
| 67 | IBN | ICICI BANK LIMITED | 123,872 | $3.69M | 0.02% | $29.80 | REDUCE | -44.8% |
| 68 | TSLA | TESLA INC | 8,171 | $3.67M | 0.02% | $449.72 | REDUCE | -4.9% |
| 69 | PDD | PDD HOLDINGS INC | 31,329 | $3.55M | 0.02% | $113.39 | REDUCE | -50.5% |
| 70 | HCI | HCI GROUP INC | 18,126 | $3.47M | 0.01% | $191.69 | REDUCE | -0.2% |
| 71 | KARO | KAROOOOO LTD | 74,821 | $3.40M | 0.01% | $45.50 | REDUCE | -9.4% |
| 72 | — | JOBY AVIATION INC | 250,067 | $3.30M | 0.01% | $13.20 | REDUCE | -21.4% |
| 73 | BBIO | BRIDGEBIO PHARMA INC | 38,241 | $2.93M | 0.01% | $76.49 | ADD | +5.7% |
| 74 | ATRO | ASTRONICS CORP | 53,691 | $2.91M | 0.01% | $54.24 | REDUCE | -0.6% |
| 75 | REAL | THE REALREAL INC | 175,088 | $2.76M | 0.01% | $15.78 | ADD | +142.9% |
| 76 | W | WAYFAIR INC | 26,857 | $2.70M | 0.01% | $100.41 | REDUCE | -10.1% |
| 77 | IRMD | IRADIMED CORP | 26,891 | $2.62M | 0.01% | $97.28 | REDUCE | -5.5% |
| 78 | DAVE | DAVE INC | 11,805 | $2.61M | 0.01% | $221.41 | REDUCE | -5.0% |
| 79 | HURN | HURON CONSULTING GROUP INC | 15,086 | $2.61M | 0.01% | $172.91 | ADD | +46.5% |
| 80 | CCJ | CAMECO CORP | 28,174 | $2.58M | 0.01% | $91.49 | REDUCE | -27.1% |
| 81 | IE | IVANHOE ELECTRIC INC | 157,882 | $2.52M | 0.01% | $15.98 | REDUCE | -16.1% |
| 82 | AFRM | AFFIRM HLDGS INC | 32,969 | $2.45M | 0.01% | $74.43 | REDUCE | -0.4% |
| 83 | WDAY | WORKDAY INC | 10,782 | $2.32M | 0.01% | $214.79 | REDUCE | -99.4% |
| 84 | LASR | NLIGHT INC | 61,624 | $2.31M | 0.01% | $37.51 | ADD | +18.9% |
| 85 | AMPX | AMPRIUS TECHNOLOGIES INC | 288,290 | $2.27M | 0.01% | $7.89 | REDUCE | -15.1% |
| 86 | CATH | GLOBAL X FDS | 27,566 | $2.27M | 0.01% | $82.23 | REDUCE | -10.7% |
| 87 | SPHR | SPHERE ENTERTAINMENT CO | 23,828 | $2.27M | 0.01% | $95.08 | NEW | — |
| 88 | IT | GARTNER INC | 8,753 | $2.21M | 0.01% | $252.29 | REDUCE | -5.7% |
| 89 | PL | PLANET LABS PBC | 111,538 | $2.20M | 0.01% | $19.72 | NEW | — |
| 90 | FSLR | FIRST SOLAR INC | 8,302 | $2.17M | 0.01% | $261.23 | REDUCE | -26.0% |
| 91 | BKD | BROOKDALE SR LIVING INC | 200,588 | $2.16M | 0.01% | $10.79 | ADD | +20.2% |
| 92 | AAPL | APPLE INC | 7,724 | $2.10M | 0.01% | $271.85 | REDUCE | -49.7% |
| 93 | ATEC | ALPHATEC HLDGS INC | 95,761 | $2.01M | 0.01% | $21.04 | ADD | +85.2% |
| 94 | GH | GUARDANT HEALTH INC | 19,667 | $2.01M | 0.01% | $102.14 | ADD | +13.9% |
| 95 | MOD | MODINE MFG CO | 14,309 | $1.91M | 0.01% | $133.51 | REDUCE | -56.0% |
| 96 | CRS | CARPENTER TECHNOLOGY CORP | 6,062 | $1.91M | 0.01% | $314.84 | REDUCE | -0.4% |
| 97 | VTI | VANGUARD INDEX FDS | 5,677 | $1.90M | 0.01% | $335.27 | NEW | — |
| 98 | MIR | MIRION TECHNOLOGIES INC | 79,419 | $1.86M | 0.01% | $23.42 | ADD | +4.3% |
| 99 | BFLY | BUTTERFLY NETWORK INC | 472,971 | $1.80M | 0.01% | $3.80 | NEW | — |
| 100 | PTGX | PROTAGONIST THERAPEUTICS INC | 20,349 | $1.78M | 0.01% | $87.34 | ADD | +0.1% |
| 101 | RDVT | RED VIOLET INC | 30,328 | $1.73M | 0.01% | $56.95 | ADD | +0.3% |
| 102 | IRS | IRSA INVERSIONES Y REP S A | 102,911 | $1.70M | 0.01% | $16.54 | ADD | +8.0% |
| 103 | FTI | TECHNIPFMC PLC | 35,915 | $1.60M | 0.01% | $44.56 | REDUCE | -29.5% |
| 104 | METC | RAMACO RES INC | 88,507 | $1.59M | 0.01% | $18.00 | REDUCE | -51.5% |
| 105 | KTOS | KRATOS DEFENSE & SEC SOLUTIO | 19,697 | $1.50M | 0.01% | $75.91 | REDUCE | -17.0% |
| 106 | YOU | CLEAR SECURE INC | 39,325 | $1.38M | 0.01% | $35.08 | ADD | +36.2% |
| 107 | OPLN | OPENLANE INC | 46,259 | $1.38M | 0.01% | $29.78 | REDUCE | -3.1% |
| 108 | — | CORPORACION AMER ARPTS S A | 51,919 | $1.35M | 0.01% | $26.00 | ADD | +18.9% |
| 109 | TMO | THERMO FISHER SCIENTIFIC INC | 2,307 | $1.34M | 0.01% | $579.50 | REDUCE | -98.0% |
| 110 | XMTR | XOMETRY INC | 22,321 | $1.33M | 0.01% | $59.47 | ADD | +169.3% |
| 111 | — | PAGAYA TECHNOLOGIES LTD | 63,497 | $1.33M | 0.01% | $20.90 | REDUCE | -16.3% |
| 112 | TMDX | TRANSMEDICS GROUP INC | 10,828 | $1.32M | 0.01% | $121.65 | ADD | +90.3% |
| 113 | SEI | SOLARIS ENERGY INFRAS INC | 28,597 | $1.31M | 0.01% | $45.97 | NEW | — |
| 114 | ERO | ERO COPPER CORP | 45,544 | $1.29M | 0.01% | $28.29 | NEW | — |
| 115 | SION | SIONNA THERAPEUTICS INC | 31,258 | $1.29M | 0.01% | $41.14 | — | 0% |
| 116 | ESTA | ESTABLISHMENT LABS HLDGS INC | 17,475 | $1.27M | 0.01% | $72.88 | NEW | — |
| 117 | ESQ | ESQUIRE FINL HLDGS INC | 11,709 | $1.20M | 0.01% | $102.07 | — | 0% |
| 118 | OPY | OPPENHEIMER HLDGS INC | 16,343 | $1.18M | 0.01% | $72.29 | — | 0% |
| 119 | PLPC | PREFORMED LINE PRODS CO | 5,660 | $1.17M | 0.00% | $206.71 | — | 0% |
| 120 | GRAL | GRAIL INC | 13,526 | $1.16M | 0.00% | $85.59 | REDUCE | -18.9% |
| 121 | LQDA | LIQUIDIA CORPORATION | 33,538 | $1.16M | 0.00% | $34.49 | NEW | — |
| 122 | KOD | KODIAK SCIENCES INC | 41,340 | $1.16M | 0.00% | $27.96 | ADD | +91.7% |
| 123 | GGAL | GRUPO FINANCIERO GALICIA S.A | 21,373 | $1.15M | 0.00% | $53.94 | NEW | — |
| 124 | ROAD | CONSTRUCTION PARTNERS INC | 10,615 | $1.15M | 0.00% | $108.55 | REDUCE | -2.4% |
| 125 | AORT | ARTIVION INC | 25,259 | $1.15M | 0.00% | $45.61 | NEW | — |
| 126 | — | CREDO TECHNOLOGY GROUP HOLDI | 7,915 | $1.14M | 0.00% | $143.89 | REDUCE | -21.7% |
| 127 | HHH | HOWARD HUGHES HOLDINGS INC | 13,980 | $1.12M | 0.00% | $79.77 | REDUCE | -41.3% |
| 128 | RKLB | ROCKET LAB CORP | 15,324 | $1.07M | 0.00% | $69.76 | NEW | — |
| 129 | MIRM | MIRUM PHARMACEUTICALS INC | 13,360 | $1.06M | 0.00% | $78.99 | ADD | +0.2% |
| 130 | XERS | XERIS BIOPHARMA HOLDINGS INC | 133,416 | $1.05M | 0.00% | $7.85 | ADD | +0.2% |
| 131 | CEG | CONSTELLATION ENERGY CORP | 2,812 | $993.39K | 0.00% | $353.27 | REDUCE | -33.0% |
| 132 | TIGO | MILLICOM INTL CELLULAR S A | 17,685 | $980.46K | 0.00% | $55.44 | ADD | +0.1% |
| 133 | ASTE | ASTEC INDS INC | 22,344 | $967.94K | 0.00% | $43.32 | ADD | +23.4% |
| 134 | SRRK | SCHOLAR ROCK HLDG CORP | 21,762 | $958.62K | 0.00% | $44.05 | ADD | +20.5% |
| 135 | AX | AXOS FINANCIAL INC | 10,986 | $946.55K | 0.00% | $86.16 | ADD | +19.7% |
| 136 | KURA | KURA ONCOLOGY INC | 90,847 | $943.90K | 0.00% | $10.39 | NEW | — |
| 137 | TDUP | THREDUP INC | 145,615 | $930.48K | 0.00% | $6.39 | ADD | +31.9% |
| 138 | SMR | NUSCALE PWR CORP | 64,615 | $915.60K | 0.00% | $14.17 | REDUCE | -22.7% |
| 139 | TSHA | TAYSHA GENE THERAPIES INC | 156,586 | $861.22K | 0.00% | $5.50 | NEW | — |
| 140 | UPWK | UPWORK INC | 43,111 | $854.46K | 0.00% | $19.82 | ADD | +278.7% |
| 141 | BW | BABCOCK & WILCOX ENTERPRISES | 122,280 | $775.25K | 0.00% | $6.34 | NEW | — |
| 142 | ASPI | ASP ISOTOPES INC | 139,511 | $746.38K | 0.00% | $5.35 | REDUCE | -40.1% |
| 143 | SWIM | LATHAM GROUP INC | 112,388 | $713.66K | 0.00% | $6.35 | REDUCE | -32.6% |
| 144 | VCTR | VICTORY CAP HLDGS INC | 11,145 | $703.14K | 0.00% | $63.09 | REDUCE | -38.5% |
| 145 | CPF | CENTRAL PAC FINL CORP | 22,150 | $690.19K | 0.00% | $31.16 | ADD | +28.5% |
| 146 | CRM | SALESFORCE INC | 2,581 | $683.77K | 0.00% | $264.93 | REDUCE | -31.2% |
| 147 | AMSC | AMERICAN SUPERCONDUCTOR CORP | 23,565 | $678.20K | 0.00% | $28.78 | REDUCE | -50.2% |
| 148 | CW | CURTISS WRIGHT CORP | 1,211 | $667.59K | 0.00% | $551.27 | REDUCE | -36.6% |
| 149 | ODD | ODDITY TECH LTD | 16,175 | $649.91K | 0.00% | $40.18 | REDUCE | -35.1% |
| 150 | IHRT | IHEARTMEDIA INC | 155,516 | $646.95K | 0.00% | $4.16 | ADD | +9.7% |
| 151 | GPGI | COMPOSECURE INC | 33,395 | $643.86K | 0.00% | $19.28 | — | 0% |
| 152 | PBI | PITNEY BOWES INC | 60,710 | $641.71K | 0.00% | $10.57 | REDUCE | -31.4% |
| 153 | NUVL | NUVALENT INC | 6,359 | $639.65K | 0.00% | $100.59 | NEW | — |
| 154 | — | JFROG LTD | 9,884 | $617.36K | 0.00% | $62.46 | NEW | — |
| 155 | CYTK | CYTOKINETICS INC | 9,584 | $608.97K | 0.00% | $63.54 | NEW | — |
| 156 | SES | SES AI CORPORATION | 338,156 | $608.68K | 0.00% | $1.80 | REDUCE | -15.3% |
| 157 | AEHR | AEHR TEST SYS | 30,111 | $607.94K | 0.00% | $20.19 | ADD | +29.2% |
| 158 | STRL | STERLING INFRASTRUCTURE INC | 1,952 | $597.76K | 0.00% | $306.23 | REDUCE | -40.4% |
| 159 | FIGS | FIGS INC | 48,828 | $554.69K | 0.00% | $11.36 | NEW | — |
| 160 | VELO | VELO3D INC | 39,896 | $548.17K | 0.00% | $13.74 | NEW | — |
| 161 | FTAI | FTAI AVIATION LTD | 2,748 | $540.94K | 0.00% | $196.85 | REDUCE | -74.6% |
| 162 | APEI | AMERICAN PUB ED INC | 14,117 | $533.62K | 0.00% | $37.80 | NEW | — |
| 163 | CSIQ | CANADIAN SOLAR INC | 22,223 | $528.24K | 0.00% | $23.77 | NEW | — |
| 164 | NSSC | NAPCO SEC TECHNOLOGIES INC | 12,567 | $524.04K | 0.00% | $41.70 | — | 0% |
| 165 | FIGR | FIGURE TECHNOLOGY SOLUTIO | 12,803 | $522.88K | 0.00% | $40.84 | NEW | — |
| 166 | EMBJ | EMBRAER S.A. | 7,924 | $510.07K | 0.00% | $64.37 | REDUCE | -60.1% |
| 167 | ADP | AUTOMATIC DATA PROCESSING IN | 1,976 | $508.39K | 0.00% | $257.28 | REDUCE | -19.7% |
| 168 | TLN | TALEN ENERGY CORP | 1,349 | $505.66K | 0.00% | $374.84 | REDUCE | -66.5% |
| 169 | SGOV | ISHARES TR | 4,972 | $499.09K | 0.00% | $100.38 | — | 0% |
| 170 | PRCH | PORCH GROUP INC | 53,683 | $490.13K | 0.00% | $9.13 | REDUCE | -75.3% |
| 171 | NRG | NRG ENERGY INC | 3,033 | $482.98K | 0.00% | $159.24 | REDUCE | -49.5% |
| 172 | KRMN | KARMAN HLDGS INC | 6,455 | $472.31K | 0.00% | $73.17 | NEW | — |
| 173 | CELC | CELCUITY INC | 4,660 | $464.79K | 0.00% | $99.74 | NEW | — |
| 174 | LMB | LIMBACH HLDGS INC | 5,892 | $458.69K | 0.00% | $77.85 | REDUCE | -62.6% |
| 175 | HQY | HEALTHEQUITY INC | 4,980 | $456.22K | 0.00% | $91.61 | NEW | — |
| 176 | MAMA | MAMAS CREATIONS INC | 32,989 | $445.02K | 0.00% | $13.49 | NEW | — |
| 177 | DNLI | DENALI THERAPEUTICS INC | 26,900 | $444.12K | 0.00% | $16.51 | NEW | — |
| 178 | SNDK | SANDISK CORP | 1,860 | $441.53K | 0.00% | $237.38 | NEW | — |
| 179 | SKYW | SKYWEST INC | 4,380 | $439.80K | 0.00% | $100.41 | REDUCE | -64.1% |
| 180 | ZGN | ERMENEGILDO ZEGNA N V | 42,768 | $438.37K | 0.00% | $10.25 | NEW | — |
| 181 | TWLO | TWILIO INC | 3,056 | $434.69K | 0.00% | $142.24 | ADD | +1.5% |
| 182 | ESPR | ESPERION THERAPEUTICS INC NE | 116,292 | $430.28K | 0.00% | $3.70 | NEW | — |
| 183 | OPFI | OPPFI INC | 40,472 | $423.34K | 0.00% | $10.46 | REDUCE | -33.6% |
| 184 | LUXE | LUXEXPERIENCE BV | 50,258 | $419.65K | 0.00% | $8.35 | ADD | +64.8% |
| 185 | MESO | MESOBLAST LTD | 23,005 | $415.01K | 0.00% | $18.04 | NEW | — |
| 186 | NMRK | NEWMARK GROUP INC | 23,619 | $409.55K | 0.00% | $17.34 | ADD | +113.1% |
| 187 | GRBK | GREEN BRICK PARTNERS INC | 6,526 | $408.92K | 0.00% | $62.66 | NEW | — |
| 188 | AVAV | AEROVIRONMENT INC | 1,689 | $408.55K | 0.00% | $241.89 | ADD | +48.8% |
| 189 | PSNL | PERSONALIS INC | 50,705 | $403.61K | 0.00% | $7.96 | NEW | — |
| 190 | GHM | GRAHAM CORP | 6,217 | $399.32K | 0.00% | $64.23 | NEW | — |
| 191 | ADT | ADT INC DEL | 49,368 | $398.40K | 0.00% | $8.07 | REDUCE | -36.8% |
| 192 | UNH | UNITEDHEALTH GROUP INC | 1,197 | $395.23K | 0.00% | $330.18 | REDUCE | -19.3% |
| 193 | NAMS | NEWAMSTERDAM PHARMA COMPANY | 11,239 | $394.26K | 0.00% | $35.08 | NEW | — |
| 194 | MEDP | MEDPACE HLDGS INC | 696 | $390.91K | 0.00% | $561.65 | REDUCE | -12.1% |
| 195 | AYI | ACUITY INC | 1,061 | $382.00K | 0.00% | $360.04 | REDUCE | -33.8% |
| 196 | OLMA | OLEMA PHARMACEUTICALS INC | 15,206 | $380.15K | 0.00% | $25.00 | NEW | — |
| 197 | APPN | APPIAN CORP | 10,366 | $367.16K | 0.00% | $35.42 | NEW | — |
| 198 | AXTI | AXT INC | 22,215 | $363.21K | 0.00% | $16.35 | NEW | — |
| 199 | LYFT | LYFT INC | 18,239 | $353.29K | 0.00% | $19.37 | NEW | — |
| 200 | ABCL | ABCELLERA BIOLOGICS INC | 102,508 | $350.58K | 0.00% | $3.42 | REDUCE | -61.9% |
| 201 | ADSK | AUTODESK INC | 1,182 | $349.79K | 0.00% | $295.93 | REDUCE | -9.2% |
| 202 | WINA | WINMARK CORP | 859 | $347.84K | 0.00% | $404.94 | NEW | — |
| 203 | IOO | ISHARES TR | 2,743 | $347.42K | 0.00% | $126.66 | NEW | — |
| 204 | GAP | GAP INC | 12,860 | $329.22K | 0.00% | $25.60 | NEW | — |
| 205 | WAL | WESTERN ALLIANCE BANCORP | 3,797 | $319.21K | 0.00% | $84.07 | REDUCE | -42.9% |
| 206 | HLLY | HOLLEY INC | 77,032 | $318.14K | 0.00% | $4.13 | NEW | — |
| 207 | TTAN | SERVICETITAN INC | 2,975 | $316.84K | 0.00% | $106.50 | ADD | +32.7% |
| 208 | NTRA | NATERA INC | 1,376 | $315.23K | 0.00% | $229.09 | REDUCE | -53.0% |
| 209 | MLI | MUELLER INDS INC | 2,720 | $312.26K | 0.00% | $114.80 | REDUCE | -45.3% |
| 210 | AWI | ARMSTRONG WORLD INDS INC NEW | 1,511 | $288.75K | 0.00% | $191.10 | ADD | +27.3% |
| 211 | — | STRATASYS LTD | 32,493 | $282.04K | 0.00% | $8.68 | REDUCE | -38.5% |
| 212 | ULS | UL SOLUTIONS INC | 3,420 | $269.70K | 0.00% | $78.86 | NEW | — |
| 213 | ASNDUSD | ASCENDIS PHARMA A/S | 1,211 | $258.23K | 0.00% | $213.24 | REDUCE | -56.2% |
| 214 | PACB | PACIFIC BIOSCIENCES CALIF IN | 137,149 | $256.47K | 0.00% | $1.87 | NEW | — |
| 215 | SYM | SYMBOTIC INC | 4,298 | $255.73K | 0.00% | $59.50 | REDUCE | -48.7% |
| 216 | LTH | LIFE TIME GROUP HOLDINGS INC | 9,609 | $255.41K | 0.00% | $26.58 | REDUCE | -70.7% |
| 217 | CPS | COOPER STD HLDGS INC | 7,635 | $250.66K | 0.00% | $32.83 | NEW | — |
| 218 | EOSE | EOS ENERGY ENTERPRISES INC | 21,080 | $241.58K | 0.00% | $11.46 | — | 0% |
| 219 | U | UNITY SOFTWARE INC | 5,449 | $240.68K | 0.00% | $44.17 | REDUCE | -36.9% |
| 220 | PTON | PELOTON INTERACTIVE INC | 36,795 | $226.66K | 0.00% | $6.16 | REDUCE | -88.7% |
| 221 | SERV | SERVE ROBOTICS INC | 21,833 | $226.63K | 0.00% | $10.38 | NEW | — |
| 222 | TEM | TEMPUS AI INC | 3,756 | $221.79K | 0.00% | $59.05 | REDUCE | -77.7% |
| 223 | CCO | CLEAR CHANNEL OUTDOOR HLDGS | 95,912 | $211.97K | 0.00% | $2.21 | NEW | — |
| 224 | PRLB | PROTO LABS INC | 4,148 | $209.85K | 0.00% | $50.59 | NEW | — |
| 225 | ROIV | ROIVANT SCIENCES LTD | 9,662 | $209.66K | 0.00% | $21.70 | NEW | — |
| 226 | RR | RICHTECH ROBOTICS INC | 64,298 | $207.68K | 0.00% | $3.23 | NEW | — |
| 227 | PYPL | PAYPAL HLDGS INC | 3,487 | $203.60K | 0.00% | $58.39 | REDUCE | -8.6% |
| 228 | OSCR | OSCAR HEALTH INC | 13,755 | $197.66K | 0.00% | $14.37 | REDUCE | -36.1% |
| 229 | PGEN | PRECIGEN INC | 42,095 | $175.96K | 0.00% | $4.18 | NEW | — |
| 230 | GDYN | GRID DYNAMICS HLDGS INC | 19,383 | $175.03K | 0.00% | $9.03 | NEW | — |
| 231 | SOPH | SOPHIA GENETICS SA | 21,738 | $101.52K | 0.00% | $4.67 | NEW | — |
Positions exited in Q4 2025
| Ticker | Issuer | Prior shares |
|---|---|---|
| PCT | PURECYCLE TECHNOLOGIES INC | 92,364 |
| NVEEUSD | NV5 GLOBAL INC | 0 |
| VIST | VISTA ENERGY S.A.B. DE C.V. | 210,976 |
| FET 9 08/04/25 | FORUM ENERGY TECHNOLOGIES IN | 0 |
| MLR | MILLER INDS INC TENN | 0 |
| ITRI | ITRON INC | 0 |
| MKTX | MARKETAXESS HLDGS INC | 0 |
| ALSN | ALLISON TRANSMISSION HLDGS I | 0 |
| BABA | ALIBABA GROUP HLDG LTD | 2,850 |
| BIL | SPDR SER TR | 0 |
| ALGN | ALIGN TECHNOLOGY INC | 0 |
| DOCS | DOXIMITY INC | 7,211 |
| EPAM | EPAM SYS INC | 0 |
| META | META PLATFORMS INC | 538 |
| HNST | HONEST CO INC | 0 |
| CWAN | CLEARWATER ANALYTICS HLDGS I | 0 |
| CHEF | CHEFS WHSE INC | 9,493 |
| OPCH | OPTION CARE HEALTH INC | 0 |
| BWMN | BOWMAN CONSULTING GROUP LTD | 0 |
| ALRM | ALARM COM HLDGS INC | 0 |
| AIT | APPLIED INDL TECHNOLOGIES IN | 0 |
| YPF | YPF SOCIEDAD ANONIMA | 0 |
| FCX | FREEPORT-MCMORAN INC | 0 |
| LGIH | LGI HOMES INC | 0 |
| NGVC | NATURAL GROCERS BY VITAMIN C | 14,277 |
| AMN | AMN HEALTHCARE SVCS INC | 0 |
| ADMA | ADMA BIOLOGICS INC | 0 |
| AAON | AAON INC | 0 |
| LRN | STRIDE INC | 11,233 |
| BRLT | BRILLIANT EARTH GROUP INC | 44,586 |
| VO | VANGUARD INDEX FDS | 8,690 |
| YETI | YETI HLDGS INC | 0 |
| ELF | E L F BEAUTY INC | 6,478 |
| GWRE | GUIDEWIRE SOFTWARE INC | 902 |
| BAH | BOOZ ALLEN HAMILTON HLDG COR | 0 |
| BL | BLACKLINE INC | 0 |
| ETSY | ETSY INC | 0 |
| FIVE | FIVE BELOW INC | 0 |
| BEAM | BEAM THERAPEUTICS INC | 9,133 |
| AXSM | AXSOME THERAPEUTICS INC | 0 |
| ALKT | ALKAMI TECHNOLOGY INC | 0 |
| KNSL | KINSALE CAP GROUP INC | 0 |
| CRL | CHARLES RIV LABS INTL INC | 0 |
| CAVA | CAVA GROUP INC | 7,922 |
| CALY | TOPGOLF CALLAWAY BRANDS CORP | 0 |
| OLLI | OLLIES BARGAIN OUTLET HLDGS | 0 |
| TECH | BIO-TECHNE CORP | 0 |
| RBBN | RIBBON COMMUNICATIONS INC | 87,246 |
| ATHM | AUTOHOME INC | 0 |
| BDC | BELDEN INC | 0 |
| HEPS | D MARKET ELECTR SVCS & TRADI | 0 |
| AZPN1USD | ASPEN TECHNOLOGY INC | 0 |
| BMBL | BUMBLE INC | 0 |
| RSP | INVESCO EXCHANGE TRADED FD T | 44,774 |
| NXE | NEXGEN ENERGY LTD | 12,308 |
| PG | PROCTER AND GAMBLE CO | 4,850 |
| ALIT | ALIGHT INC | 0 |
| BLD | TOPBUILD CORP | 0 |
| GNRC | GENERAC HLDGS INC | 0 |
| RVLV | REVOLVE GROUP INC | 0 |
| DAVA | ENDAVA PLC | 0 |
| TPIF | TIMOTHY PLAN | 0 |
| MVST | MICROVAST HOLDINGS INC | 113,150 |
| NKE | NIKE INC | 3,509 |
| HELE | HELEN OF TROY LTD | 0 |
| PCTY | PAYLOCITY HLDG CORP | 0 |
| UL | UNILEVER PLC | 0 |
| RBRK | RUBRIK INC. | 2,998 |
| SITE | SITEONE LANDSCAPE SUPPLY INC | 0 |
| IWO | ISHARES TR | 0 |
| XPEL | XPEL INC | 0 |
| IWM | ISHARES TR | 0 |
| EVER | EVERQUOTE INC | 20,871 |
| FND | FLOOR & DECOR HLDGS INC | 0 |
| — | CELLEBRITE DI LTD | 0 |
| TGTX | TG THERAPEUTICS INC | 0 |
| SITM | SITIME CORP | 0 |
| SHAK | SHAKE SHACK INC | 0 |
| IOT | SAMSARA INC | 0 |
| QLYS | QUALYS INC | 0 |
| ENTG | ENTEGRIS INC | 0 |
| NVO | NOVO-NORDISK A S | 0 |
| ILMN | ILLUMINA INC | 0 |
| — | OCULIS HOLDING AG | 0 |
| PNTG | PENNANT GROUP INC | 0 |
| SAIA | SAIA INC | 0 |
| KRUS | KURA SUSHI USA INC | 0 |
| TYL | TYLER TECHNOLOGIES INC | 0 |
| — | MAREX GROUP PLC | 0 |
| — | KORNIT DIGITAL LTD | 0 |
| ENVX | ENOVIX CORPORATION | 0 |
| EXLS | EXLSERVICE HOLDINGS INC | 0 |
| HIMS | HIMS & HERS HEALTH INC | 12,624 |
| INTA | INTAPP INC | 0 |
| IBP | INSTALLED BLDG PRODS INC | 0 |
| NSIT | INSIGHT ENTERPRISES INC | 0 |
| P | PURE STORAGE INC | 5,963 |
| GSHD | GOOSEHEAD INS INC | 0 |
| CCC | CCC INTELLIGENT SOLUTIONS HL | 0 |
| TTEK | TETRA TECH INC NEW | 0 |
| NTES | NETEASE INC | 2,669 |
| WRBY | WARBY PARKER INC | 66,730 |
| MCD | MCDONALDS CORP | 1,659 |
| SUPV | GRUPO SUPERVIELLE S.A. | 0 |
| — | NAYAX LTD | 9,124 |
| LVS | LAS VEGAS SANDS CORP | 0 |
| — | MERUS N V | 11,460 |
| LQDT | LIQUIDITY SVCS INC | 40,688 |
| HYG | ISHARES TR | 200,000 |
| REAX | THE REAL BROKERAGE INC | 234,626 |
| SVV | SAVERS VALUE VLG INC | 13,022 |
| SG | SWEETGREEN INC | 40,133 |
| CHWY | CHEWY INC | 5,121 |
| WLFC | WILLIS LEASE FIN CORP | 2,572 |
| BBSI | BARRETT BUSINESS SVCS INC | 36,833 |
| BIDU | BAIDU INC | 3,413 |
| AXON | AXON ENTERPRISE INC | 299 |
| UTI | UNIVERSAL TECHNICAL INST INC | 25,247 |
| WING | WINGSTOP INC | 0 |
| AUR | AURORA INNOVATION INC | 18,365 |
| ARLO | ARLO TECHNOLOGIES INC | 60,486 |
| Z | ZILLOW GROUP INC | 6,539 |
| TREX | TREX CO INC | 0 |
| VST | VISTRA CORP | 2,727 |
| ACHR | ARCHER AVIATION INC | 81,485 |
| APPF | APPFOLIO INC | 753 |
| BSY | BENTLEY SYS INC | 0 |
| ALNY | ALNYLAM PHARMACEUTICALS INC | 693 |
| CNM | CORE & MAIN INC | 0 |
| CORT | CORCEPT THERAPEUTICS INC | 28,363 |
| CVLT | COMMVAULT SYS INC | 10,395 |
| FIX | COMFORT SYS USA INC | 0 |
| CIGI | COLLIERS INTL GROUP INC | 0 |
| KO | COCA COLA CO | 10,490 |
| CAKE | CHEESECAKE FACTORY INC | 14,226 |
| GTES | GATES INDL CORP PLC | 19,344 |
| FN | FABRINET | 0 |
| FVRR | FIVERR INTL LTD | 0 |
| MPWR | MONOLITHIC PWR SYS INC | 0 |
| CPA | COPA HOLDINGS SA | 0 |
| POOL | POOL CORP | 0 |
| RGEN | REPLIGEN CORP | 0 |
| KSPI | KASPI KZ JSC | 0 |
| QQEW | FIRST TR EXCHANGE-TRADED FD | 22,529 |
| YUMC | YUM CHINA HLDGS INC | 0 |
| WSC | WILLSCOT HLDGS CORP | 0 |
| FSV | FIRSTSERVICE CORP NEW | 0 |
| PLNT | PLANET FITNESS INC | 0 |
| BBBY | BED BATH & BEYOND INC | 15,164 |
| KB | KB FINL GROUP INC | 0 |
| DT | DYNATRACE INC | 0 |
| MORN | MORNINGSTAR INC | 0 |
| RMBS | RAMBUS INC DEL | 0 |
| PHR | PHREESIA INC | 0 |
| HLI | HOULIHAN LOKEY INC | 0 |
| TPLC | TIMOTHY PLAN | 0 |
| FERG | FERGUSON ENTERPRISES INC | 0 |
| BROS | DUTCH BROS INC | 0 |
| VOE | VANGUARD INDEX FDS | 2,000 |
| SFM | SPROUTS FMRS MKT INC | 0 |
| RH | RH | 0 |
| PLTR | PALANTIR TECHNOLOGIES INC | 0 |
| PEP | PEPSICO INC | 4,528 |
| NTNX | NUTANIX INC | 8,820 |
| EEFT | EURONET WORLDWIDE INC | 0 |
| HLNE | HAMILTON LANE INC | 0 |
| USHY | ISHARES TR | 0 |
| LOMA | LOMA NEGRA C I A S A MTN 14 | 0 |
| MANH | MANHATTAN ASSOCIATES INC | 0 |
| FOXF | FOX FACTORY HLDG CORP | 0 |
| PGNY | PROGYNY INC | 0 |
| VONG | VANGUARD SCOTTSDALE FDS | 0 |
| SKIL | SKILLSOFT CORP | 0 |
Source: SEC EDGAR 13F-HR filing Feb 12, 2026. Reported prices are derived from the filing's value-to-shares ratio (effectively the quarter-end mark). Filings are published with a 45-day delay. CIK 0001034524.