Latest Herald Investment Management Ltd Stock Portfolio

Herald Investment Management Ltd Performance:

2025 Q4: 2.07%YTD: 27.57%2024: 29.25%

Performance for 2025 Q4 is 2.07%, and YTD is 27.57%, and 2024 is 29.25%.

About Herald Investment Management Ltd and 13F Hedge Fund Stock Holdings

On 2026-02-13, the fund reported it's updated stock portfolio. In the 13F Holdings report, Herald Investment Management Ltd reported an equity portfolio of $765.5 Millions as of 31 Dec, 2025.

The top stock holdings of Herald Investment Management Ltd are CLS, FN, PEGA. The fund has invested 8.9% of it's portfolio in CELESTICA INC and 6.4% of portfolio in FABRINET.

The fund managers got completely rid off AVIDXCHANGE HOLDINGS INC (AVDX), INUVO INC (INUV) and LANTRONIX INC (LTRX) stocks. They significantly reduced their stock positions in ADVANCED MICRO DEVICES INC (AMD), CELESTICA INC (CLS) and FABRINET (FN). Herald Investment Management Ltd opened new stock positions in DIGITALOCEAN HOLDINGS INC (DOCN), EPLUS INC (PLUS) and VIAVI SOLUTIONS INC (VIAV). The fund showed a lot of confidence in some stocks as they added substantially to POWER INTEGRATIONS INC (POWI), CLIMB GLOBAL SOLUTIONS INC (WSTG) and NOVANTA INC (NOVT).

Herald Investment Management Ltd Annual Return Estimates Vs S&P 500

Our best estimate is that HERALD INVESTMENT MANAGEMENT Ltd made a return of 2.07% in the last quarter. In trailing 12 months, it's portfolio return was 27.57%.

Performance
S&P 500

New Buys

Ticker	$ Bought
digitalocean holdings inc	9,708,120
eplus inc	6,558,000
viavi solutions inc	4,900,500
braze inc	4,286,250
powell industries inc	3,185,100
csg systems international inc	3,159,400
allient inc	2,140,400

New stocks bought by Herald Investment Management Ltd

Additions

Ticker	% Inc.
power integrations inc	294
climb global solutions inc	50.00
novanta inc	40.00
ci&t inc	33.33
five9 inc	28.37
sps commerce inc	27.27
vishay precision group inc	26.67
uipath inc	25.42

Additions to existing portfolio by Herald Investment Management Ltd

Reductions

Ticker	% Reduced
advanced micro devices inc	-32.99
celestica inc	-31.49
fabrinet	-26.1
teradyne inc	-19.42
arista networks inc	-17.62
nlight inc	-14.00
ribbon communications inc	-12.36
alphabet inc	-12.15

Herald Investment Management Ltd reduced stake in above stock

Sold off

Ticker	$ Sold
inuvo inc	-2,013,940
avidxchange holdings inc	-4,975,000
lantronix inc	-1,824,000
access newswire inc	-955,800

Herald Investment Management Ltd got rid off the above stocks

Sector Distribution

HERALD INVESTMENT MANAGEMENT Ltd has about 61.4% of it's holdings in Technology sector.

Sector	%
Technology	61.4
Others	26.1
Industrials	5.8
Communication Services	3.2
Consumer Cyclical	1.5
Healthcare	1.1

Market Cap. Distribution

HERALD INVESTMENT MANAGEMENT Ltd has about 19.7% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
MID-CAP	27.5
UNALLOCATED	25.8
SMALL-CAP	22
LARGE-CAP	12
MEGA-CAP	7.7
MICRO-CAP	4.9

Stocks belong to which Index?

About 57.9% of the stocks held by HERALD INVESTMENT MANAGEMENT Ltd either belong to S&P 500 or RUSSELL 2000 index.

Index	%
RUSSELL 2000	49.5
Others	42.1
S&P 500	8.4

Top 5 Winners (%)		%
VICR	vicor corp	119.6 %
MU	micron technology inc	68.1 %
TSEM	tower semiconductor ltd	59.3 %
AIP	arteris inc	53.4 %
FORM	formfactor inc	50.8 %

Top 5 Winners ($)		$
VICR	vicor corp	14.8 M
CLS	celestica inc	14.0 M
FN	fabrinet	11.4 M
TSEM	tower semiconductor ltd	8.5 M
MU	micron technology inc	4.1 M

Top 5 Losers (%)		%
CCOI	cogent communications holdings inc	-43.8 %
TGEN	tecogen inc/waltham ma	-42.0 %
VRNS	varonis systems inc	-41.9 %
SMCI	super micro computer inc	-38.7 %
SPIR	spire global inc	-31.9 %

Top 5 Losers ($)		$
SMCI	super micro computer inc	-13.3 M
VRNS	varonis systems inc	-11.4 M
CCOI	cogent communications holdings inc	-4.1 M
ARLO	arlo technologies inc	-3.8 M
DRS	leonardo drs inc	-3.2 M

Herald Investment Management Ltd Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Herald Investment Management Ltd

HERALD INVESTMENT MANAGEMENT Ltd has 97 stocks in it's portfolio. About 41% of the portfolio is in top 10 stocks. SMCI proved to be the most loss making stock for the portfolio. VICR was the most profitable stock for HERALD INVESTMENT MANAGEMENT Ltd last quarter.

Last Reported on: 13 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc	0.72	20,400	5,545,540	unchanged	0.00

ADTN	adtran holdings inc	0.23	200,000	1,738,000	unchanged	0.00

AIP	arteris inc	0.81	400,000	6,192,000	unchanged	0.00

ALKT	alkami technology inc	1.51	500,000	11,540,000	added	25.00

AMD	advanced micro devices inc	0.58	20,720	4,436,570	reduced	-32.99

AMOT	allient inc	0.28	40,000	2,140,400	new

AMZN	amazon.com inc	1.49	49,400	11,402,500	added	6.47

ANET	arista networks inc	0.32	18,700	2,449,330	reduced	-17.62

APPS	digital turbine inc	0.39	600,000	2,994,000	unchanged	0.00

ARLO	arlo technologies inc	2.39	1,307,000	18,284,900	added	2.35

ARW	arrow electronics inc	0.22	15,200	1,675,190	unchanged	0.00

AVDX	avidxchange holdings inc	0.00	0.00	0.00	sold off	-100

AVNW	aviat networks inc	0.43	155,000	3,313,900	unchanged	0.00

AVPT	avepoint inc	1.54	850,000	11,806,500	added	21.43

AWRE	aware inc/ma	0.10	430,000	795,500	unchanged	0.00

BAND	bandwidth inc	0.42	210,000	3,244,500	unchanged	0.00

BELFB	bel fuse inc	0.66	30,000	5,080,200	unchanged	0.00

BELFB	bel fuse inc	0.15	7,500	1,132,500	unchanged	0.00

BIGC	commerce.com inc	0.38	700,000	2,877,000	unchanged	0.00

BRZE	braze inc	0.56	125,000	4,286,250	new