Data as of Q4 2025 (Dec 31, 2025)

Nine Ten Capital Management LLC

โ€ขCIK: 1635236โ€ขFiling: Q4 2025

**Nine Ten Capital Management LLC** manages $316M across a concentrated portfolio of eight positions. The fund exhibits significant conviction in its top holdings, with MGNI representing the largest allocation at $48.7M. Key concentrations include GPGI ($46.6M), BACRP ($44.7M), and AGYS ($43.2M), suggesting a focused, high-conviction investment mandate. This structure indicates a tactical approach targeting specific market opportunities across its core holdings.

Total AUM
$315.8M
QoQ Performance
-18.6%
Positions
8
Top 10 Concentration
100.0%
Latest Filing
Q4 2025

Top Holdings Allocation

MGNI
GPGI
CLBT
AGYS
IRMD
SNEX
WINA
RHLD
MGNI15.4%
GPGI14.8%
CLBT14.2%
AGYS13.7%
IRMD13.2%
SNEX12.0%
WINA10.7%
RHLD6.1%

๐Ÿ“ˆ Biggest Buys

GPGI
COMPOSECURE INC
+13.9%
14.8% of portfolio
MGNI
MAGNITE INC
+5.1%
15.4% of portfolio

๐Ÿ“‰ Biggest Sells

IRMD
IRADIMED CORP
-44.5%
13.2% of portfolio
RHLD
RESOLUTE HLDGS MGMT INC
-26.7%
6.1% of portfolio
SNEX
STONEX GROUP INC
-4.8%
12.0% of portfolio
WINA
WINMARK CORP
-0.3%
10.7% of portfolio

Sector Breakdown

Other100.0%

๐Ÿšช Exited Positionssold since Q3 2025

S3P
SAPIENS INTL CORP N V
SOLD
$49.4M

Changes from Q3 2025

โ†‘2 increased
โ†“4 decreased

Historical Filings

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