Data as of Q4 2025 (Dec 31, 2025)

HERALD INVESTMENT MANAGEMENT Ltd

•CIK: 1512022•Filing: Q4 2025

HERALD INVESTMENT MANAGEMENT Ltd manages $766M across a diversified portfolio of 97 positions. The fund maintains significant exposure to technology and industrial sectors, highlighted by top holdings including CLS at $67.9M and C-PR at $48.9M. Further allocations include substantial positions in PEGA ($42.0M) and SIMO ($35.6M). This concentrated approach demonstrates targeted conviction within key market segments.

Total AUM
$765.5M
QoQ Performance
+2.0%
Positions
96
Top 10 Concentration
41.0%
Latest Filing
Q4 2025

Top Holdings Allocation

CLS
FN
PEGA
CLS8.9%
FN6.4%
PEGA5.5%
SIMO4.7%
VICR3.5%
TSEM2.8%
SMCI2.7%
ARLO2.4%

📈 Biggest Buys

DOCN
DigitalOcean Holdings Inc
NEW
1.3% of portfolio
PLUS
ePlus Inc
NEW
0.9% of portfolio
VIAV
Viavi Solutions Inc
NEW
0.6% of portfolio
BRZE
Braze Inc
NEW
0.6% of portfolio
PWI
Power Integrations Inc
+294.7%
0.7% of portfolio

📉 Biggest Sells

CLS
Celestica Inc
-31.5%
8.9% of portfolio
FN
Fabrinet
-26.1%
6.4% of portfolio
AMD
Advanced Micro Devices Inc
-33.0%
0.6% of portfolio
TSEM
Tower Semiconductor Ltd
-9.1%
2.8% of portfolio
GOOGL
Alphabet Inc
-12.2%
1.8% of portfolio

Sector Breakdown

Other93.6%
Technology4.9%
Consumer1.5%

🚪 Exited Positionssold since Q3 2025

AVDX
AvidXchange Holdings Inc
SOLD
$5.0M
INUV
Inuvo Inc
SOLD
$2.0M
LTRX
Lantronix Inc
SOLD
$1.8M
ACCS
Access Newswire Inc
SOLD
$955.8K

Changes from Q3 2025

NEW7 new positions
↑27 increased
↓19 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

CLS8.9%
Celestica Inc
$67.9M
FN6.4%
Fabrinet
$48.9M
PEGA5.5%
Pegasystems Inc
$42.0M
SIMO4.7%
Silicon Motion Technology Corp
$35.6M
VICR3.5%
Vicor Corp
$26.8M

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