HI
HERALD INVESTMENT MANAGEMENT Ltd 13F Holdings (92 Positions, Q2 2026)
HERALD INVESTMENT MANAGEMENT LtdCIK: 0001512022
Diversified strategySector-focusedMomentum follower
Total reported value
$737.3M
Reporting period: 2026-06-30 · Number of holdings: 92
HERALD INVESTMENT MANAGEMENT Ltd disclosed 92 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $737.3M and a quarterly turnover rate of 38.2%.
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Personality snowflake
- Concentration
- 8.49
- Portfolio Stability
- 38.24
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 90.19
HERALD INVESTMENT MANAGEMENT Ltd's disclosed holdings carry a Herfindahl concentration index of 0.021 — mathematically equivalent to about 47 equally-sized positions, well below its 92 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.98), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 52% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim CLS
-60.6% -$28.8M
Trim FN
-58.4% -$28.8M
Trim PEGA
-19.2% -$12.6M
Add MU
-15.8% $13.6M
Add RDVT
+33.7% $9.6M
Add AIP
-25.8% $7.8M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SIMO | Silicon Motion Technol-adr | Stock-Other | 6.67% | +0.92% | -59.83% | |
| 2 | CLS | Celestica Inc | Stock-Tech | 4.08% | -4.13% | -60.60% | |
| 3 | VICR | Vicor CORP | Stock-Tech | 3.97% | -0.96% | -64.95% | |
| 4 | TSEM | Tower Semiconductor Ltd. | Stock-Tech | 3.50% | -0.56% | -40.36% | |
| 5 | KLIC | Kulicke & Soffa Industries | Stock-Tech | 3.20% | +0.96% | -27.65% | |
| 6 | FN | Fabrinet | Stock-Tech | 3.17% | -4.10% | -58.44% | |
| 7 | DOCN | Digitalocean Holdings Inc | Stock-Tech | 3.14% | +0.55% | -32.03% | |
| 8 | MU | Micron Technology Inc | Stock-Tech | 2.82% | +1.81% | -15.81% | |
| 9 | CEVA | Ceva Inc | Stock-Other | 2.36% | +1.01% | -28.97% | |
| 10 | PEGA | Pegasystems Inc | Stock-Tech | 2.25% | -1.82% | -19.25% | |
| 11 | RDVT | Red Violet Inc | Stock-Other | 2.20% | +1.28% | +33.67% | |
| 12 | VRNS | Varonis Systems Inc | Stock-Tech | 2.17% | +0.78% | -17.84% | |
| 13 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.14% | +0.37% | — | |
| 14 | ARLO | Arlo Technologies Inc | Stock-Other | 2.07% | -0.66% | -17.62% | |
| 15 | AIP | Arteris Inc | Stock-Other | 1.95% | +1.03% | -25.80% | |
| 16 | RDWR | Radware Ltd. | Stock-Other | 1.91% | -0.47% | -29.72% | |
| 17 | FROG | JFrog Ltd. | Stock-Tech | 1.89% | +0.58% | -23.23% | |
| 18 | VPG | Vishay Precision Group | Stock-Other | 1.70% | +0.67% | -50.74% | |
| 19 | SMCI | Super Micro Computer Inc | Stock-Tech | 1.68% | -0.54% | -39.73% | |
| 20 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.60% | +0.17% | — | |
| 21 | AMD | Advanced Micro Devices | Stock-Tech | 1.48% | +0.89% | -9.17% | |
| 22 | VSH | Vishay Intertechnology Inc | Stock-Other | 1.32% | +0.57% | -39.84% | |
| 23 | MSFT | Microsoft CORP | Stock-Tech | 1.30% | -0.03% | — | |
| 24 | DRS | Leonardo Drs Inc | Stock-Industrials | 1.27% | -0.50% | -22.98% | |
| 25 | PDFS | Pdf Solutions Inc | Stock-Other | 1.15% | +0.24% | -40.17% | |
| 26 | LASR | Nlight Inc | Stock-Other | 1.15% | -0.32% | -34.32% | |
| 27 | POWI | Power Integrations Inc | Stock-Tech | 1.14% | -0.11% | -42.64% | |
| 28 | BAND | Bandwidth Inc-class A | Stock-Other | 1.06% | +0.63% | -29.14% | |
| 29 | FIVN | Five9 Inc | Stock-Tech | 1.02% | +0.25% | -2.07% | |
| 30 | DSGX | Descartes Systems Grp/the | Stock-Tech | 1.01% | -0.43% | -25.52% | |
| 31 | ELVA | Electrovaya Inc | Stock-Other | 1.00% | -0.25% | -38.74% | |
| 32 | TER | Teradyne Inc | Stock-Tech | 0.98% | +0.36% | — | |
| 33 | ALKT | Alkami Technology Inc | Stock-Other | 0.98% | -0.11% | -20.00% | |
| 34 | OUST | Ouster Inc | Stock-Other | 0.97% | +0.59% | -23.67% | |
| 35 | APPS | Digital Turbine Inc | Stock-Other | 0.96% | +0.73% | -6.38% | |
| 36 | AAPL | Apple Inc | Stock-Tech | 0.96% | +0.17% | +9.87% | |
| 37 | QLYS | Qualys Inc | Stock-Tech | 0.88% | +0.21% | -13.64% | |
| 38 | AVPT | Avepoint Inc | Stock-Other | 0.87% | -0.16% | -25.77% | |
| 39 | VIAV | Viavi Solutions Inc | Stock-Tech | 0.83% | -0.21% | -43.04% | |
| 40 | FORM | Formfactor Inc | Stock-Tech | 0.82% | -0.20% | -50.00% | |
| 41 | BELFB | Bel Fuse Inc-cl B | Stock-Other | 0.81% | -0.02% | -40.17% | |
| 42 | MRAM | Everspin Technologies Inc | Stock-Other | 0.79% | +0.06% | -59.71% | |
| 43 | MPTI | M-tron Industries Inc | Stock-Other | 0.79% | +0.28% | +6.36% | |
| 44 | FA | First Advantage CORP | Stock-Other | 0.76% | +0.19% | -10.71% | |
| 45 | PLUS | Eplus Inc | Stock-Other | 0.76% | -0.03% | -10.00% | |
| 46 | KOPN | Kopin CORP | Stock-Other | 0.76% | +0.16% | -34.34% | |
| 47 | DGII | Digi International Inc | Stock-Other | 0.76% | +0.09% | -25.50% | |
| 48 | VECO | Veeco Instruments Inc | Stock-Other | 0.71% | -0.23% | -65.25% | |
| 49 | QUIK | Quicklogic CORP | Stock-Other | 0.71% | -0.09% | -57.31% | |
| 50 | CLMB | Climb Global Solutions Inc | Stock-Other | 0.70% | -0.12% | -25.27% |
1–50 of 92
Portfolio Performance
Performance for Q3 2026
-15.5%
Performance Last 4 Quarters
+51%
- Stdev
- +30.5%
- Beta
- +1.86
- Alpha
- -6.4%
- Max Drawdown
- -18.7%
- Annualized Perf
- +30%
- Batting Avg vs S&P
- +55.6%
- Sortino
- +2.07
- Stutzer
- +0.3
- Treynor
- +0.17
- Sterling
- +1.23
- Calmar
- +1.6
- Information Ratio
- +0.5
- Tracking Error
- +21.8%
- Stdev Down
- +14.9%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +112.5%
- Worst 12 Months
- -6.6%
- Efficiency Ratio
- +0.52
- Sharpe
- +1.01
- Stdev Sectors
- +37.1%
- Skewness
- +0.72
- Kurtosis
- +2.13
- Upside Potential
- +3.61
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 92 | $737.3M | 38 | ||
| 2026 Q1 | 97 | $717.6M | 26 | ||
| 2025 Q4 | 97 | $765.5M | 24 | ||
| 2025 Q3 | 94 | $750.7M | 43 | ||
| 2025 Q2 | 94 | $674.3M | 0 | ||
| 2025 Q1 | 95 | $533.0M | 100 | ||
| 2024 Q4 | 94 | $610.9M | 0 | ||
| 2024 Q3 | 94 | $580.4M | 0 | ||
| 2024 Q2 | 96 | $610.2M | 0 | ||
| 2024 Q1 | 98 | $616.8M | 0 | ||
| 2023 Q4 | 98 | $523.5M | 0 | ||
| 2023 Q3 | 101 | $470.4M | 0 | ||
| 2023 Q2 | 100 | $514.9M | 0 | ||
| 2023 Q1 | 96 | $450.1M | 0 | ||
| 2022 Q4 | 96 | $407.4M | 0 | ||
| 2022 Q3 | 102 | $405.6M | 0 | ||
| 2022 Q2 | 105 | $430.5M | 0 | ||
| 2022 Q1 | 107 | $549.1M | 0 | ||
| 2021 Q4 | 102 | $616.4M | 0 | ||
| 2021 Q3 | 102 | $608.4M | 0 | ||
| 2021 Q2 | 100 | $614.0M | 100 | ||
| 2021 Q1 | 100 | $575.1M | 20 | ||
| 2020 Q4 | 94 | $560.7M | 26 | ||
| 2020 Q3 | 96 | $464.3M | 22 | ||
| 2020 Q2 | 94 | $428.1M | 45 | ||
| 2020 Q1 | 93 | $330.3M | 26 | ||
| 2019 Q4 | 90 | $392.5M | 22 | ||
| 2019 Q3 | 88 | $335.9M | 20 | ||
| 2019 Q2 | 92 | $359.1M | 30 | ||
| 2019 Q1 | 97 | $393.2M | 29 | ||
| 2018 Q4 | 90 | $312.2M | 29 | ||
| 2018 Q3 | 92 | $390.8M | 21 | ||
| 2018 Q2 | 94 | $358.8M | 24 | ||
| 2018 Q1 | 94 | $334.8M | 25 | ||
| 2017 Q4 | 89 | $318.7M | 23 | ||
| 2017 Q3 | 90 | $308.7M | 19 | ||
| 2017 Q2 | 90 | $291.5M | 24 | ||
| 2017 Q1 | 89 | $272.8M | 33 | ||
| 2016 Q4 | 81 | $231.2M | 39 | ||
| 2016 Q3 | 81 | $269.7M | 24 | ||
| 2016 Q2 | 79 | $238.7M | 16 | ||
| 2016 Q1 | 80 | $235.1M | 18 | ||
| 2015 Q4 | 81 | $239.1M | 18 | ||
| 2015 Q3 | 82 | $225.5M | 43 | ||
| 2015 Q1 | 85 | $276.6M | 26 | ||
| 2014 Q4 | 86 | $258.3M | 17 | ||
| 2014 Q3 | 91 | $250.3M | 33 | ||
| 2014 Q2 | 85 | $251.5M | 37 | ||
| 2014 Q1 | 84 | $252.9M | 20 | ||
| 2013 Q4 | 83 | $250.5M | 38 | 100207R2797410300508B | |
| 2013 Q3 | 82 | $230.5M | 24 | 100207R2007974300508B | |
| 2013 Q2 | 81 | $213.9M | — | 1007974200207R300508B |
Holding changes this quarter
HERALD INVESTMENT MANAGEMENT Ltd's most significant position changes for 2026-06-30: Sold out: Csg Systems International In; Sold out: Genasys Inc (GNSS); Sold out: N-able Inc (NABL); Sold out: Ribbon Communications Inc (RBBN); Sold out: M-tron Inds Inc.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MU | Micron Technology Inc | +1.8% | -15.81% | Trim |
| 2 | RDVT | Red Violet Inc | +1.3% | +33.67% | Add |
| 3 | AIP | Arteris Inc | +1% | -25.80% | Trim |
| 4 | CEVA | Ceva Inc | +1% | -28.97% | Trim |
| 5 | KLIC | Kulicke & Soffa Industries | +1% | -27.65% | Trim |
| 6 | SIMO | Silicon Motion Technol-adr | +0.9% | -59.83% | Trim |
| 7 | AMD | Advanced Micro Devices | +0.9% | -9.17% | Trim |
| 8 | VRNS | Varonis Systems Inc | +0.8% | -17.84% | Trim |
| 9 | APPS | Digital Turbine Inc | +0.7% | -6.38% | Trim |
| 10 | VPG | Vishay Precision Group | +0.7% | -50.74% | Trim |
| 11 | BAND | Bandwidth Inc-class A | +0.6% | -29.14% | Trim |
| 12 | OUST | Ouster Inc | +0.6% | -23.67% | Trim |
| 13 | FROG | JFrog Ltd. | +0.6% | -23.23% | Trim |
| 14 | VSH | Vishay Intertechnology Inc | +0.6% | -39.84% | Trim |
| 15 | DOCN | Digitalocean Holdings Inc | +0.6% | -32.03% | Trim |
| 16 | GOOGL | Alphabet Inc-cl A | +0.4% | — | Unchanged |
| 17 | TER | Teradyne Inc | +0.4% | — | Unchanged |
| 18 | SMWB | Similarweb Ltd. | +0.3% | — | Unchanged |
| 19 | MPTI | M-tron Industries Inc | +0.3% | +6.36% | Add |
| 20 | FIVN | Five9 Inc | +0.3% | -2.07% | Trim |
| 21 | SILC | Silicom Ltd. | +0.3% | -22.30% | Trim |
| 22 | PDFS | Pdf Solutions Inc | +0.2% | -40.17% | Trim |
| 23 | INTC | Intel CORP | +0.2% | — | Unchanged |
| 24 | ALNT | Allient Inc | +0.2% | — | Unchanged |
| 25 | QLYS | Qualys Inc | +0.2% | -13.64% | Trim |
| 26 | POWL | Powell Industries Inc | +0.2% | +200.00% | Add |
| 27 | FC | Franklin Covey Co | +0.2% | — | Unchanged |
| 28 | FA | First Advantage CORP | +0.2% | -10.71% | Trim |
| 29 | AMZN | Amazon.com Inc | +0.2% | — | Unchanged |
| 30 | AAPL | Apple Inc | +0.2% | +9.87% | Add |
| 31 | SLP | Simulations Plus Inc | +0.2% | — | Unchanged |
| 32 | CMRC | Commerce.com Inc | +0.2% | +51.43% | Add |
| 33 | KOPN | Kopin CORP | +0.2% | -34.34% | Trim |
| 34 | NOVT | Novanta Inc | +0.2% | — | Unchanged |
| 35 | TGEN | Tecogen Inc/waltham Ma | +0.2% | — | Unchanged |
| 36 | VLN | Valens Semiconductor Ltd. | +0.1% | — | Unchanged |
| 37 | VERX | Vertex Inc - Class A | +0.1% | +50.00% | Add |
| 38 | ARW | Arrow Electronics Inc | +0.1% | — | Unchanged |
| 39 | PATH | Uipath Inc - Class A | +0.1% | +46.47% | Add |
| 40 | HSTM | Healthstream Inc | +0.1% | — | Unchanged |
| 41 | AVT | Avnet Inc | +0.1% | — | Unchanged |
| 42 | ANET | Arista Networks Inc | +0.1% | — | Unchanged |
| 43 | DGII | Digi International Inc | +0.1% | -25.50% | Trim |
| 44 | OOMA | Ooma Inc | +0.1% | — | Unchanged |
| 45 | HIMX | Himax Technologies Inc-adr | +0.1% | -37.00% | Trim |
| 46 | ✓ | Radcom LTD New | +0.1% | — | Unchanged |
| 47 | ✓ | Ci&t Inc | +0.1% | +90.48% | Add |
| 48 | BELFA | Bel Fuse Inc-cl A | +0.1% | — | Unchanged |
| 49 | MRAM | Everspin Technologies Inc | +0.1% | -59.71% | Trim |
| 50 | TXN | Texas Instruments Inc | +0.1% | — | Unchanged |
1–50 of 97
Filing History
FAQ
What is HERALD INVESTMENT MANAGEMENT Ltd and what type of investor is it?
HERALD INVESTMENT MANAGEMENT Ltd is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $737.3M, spread across 92 disclosed positions.
What are HERALD INVESTMENT MANAGEMENT Ltd's largest equity positions?
Based on the latest 13F filing, HERALD INVESTMENT MANAGEMENT Ltd's top holdings by market value are:
1. Silicon Motion Technol-adr (SIMO) — $49.2M (6.7%)
2. Celestica Inc (CLS) — $30.1M (4.1%)
3. Vicor CORP (VICR) — $29.3M (4.0%)
4. Tower Semiconductor Ltd. (TSEM) — $25.8M (3.5%)
5. Kulicke & Soffa Industries (KLIC) — $23.6M (3.2%)
What changes did HERALD INVESTMENT MANAGEMENT Ltd make in its most recent portfolio filing?
In the latest reported quarter, HERALD INVESTMENT MANAGEMENT Ltd made 67 notable position adjustments: 0 new positions were initiated, 8 existing holdings were added to, 54 positions were partially reduced, and 5 were completely exited. The largest of these moves: Sold out: Csg Systems International In; Sold out: Genasys Inc (GNSS); Sold out: N-able Inc (NABL); Sold out: Ribbon Communications Inc (RBBN); Sold out: M-tron Inds Inc
What sectors does HERALD INVESTMENT MANAGEMENT Ltd focus on?
HERALD INVESTMENT MANAGEMENT Ltd is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 89.2%
• Communication Services: 4.1%
• Industrials: 3.6%
• Consumer Discretionary: 3.1%
Investment Profile
HERALD INVESTMENT MANAGEMENT Ltd returned an annualized 30.0% over the trailing 36 months — underperforming the S&P 500 by 6.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.86 (more volatile than the market) and a 56% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 89.2% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 38 over the past 4 quarters — a shift toward more active trading.
It has added to its SIMO position over the past two quarters (+$13.5M, now $49.2M), while trimming CLS over the same stretch (-$37.8M, still holding $30.1M).
Peer Institutions
Institutions with a similar AUM
GI
GFI Investment Counsel Ltd.
CIK 0001688774
Total reported value
$737.3M
30 stks
2026-06-30
Concentration27.3
Portfolio Stability19.9
Sector conviction90.0
AUM within 0.0% of this institution
View detail
NA
North American Management CORP
CIK 0000861462
Total reported value
$737.8M
107 stks
2021-03-31
Stale — no recent filing
Concentration9.7
Portfolio Stability8.5
Sector conviction52.2
AUM within 0.1% of this institution
View detail
LI
LS Investment Advisors, LLC
CIK 0001455845
Total reported value
$737.8M
127 stks
2026-06-30
Concentration12.5
Portfolio Stability18.6
Sector conviction53.2
AUM within 0.1% of this institution
View detail
Similar Holdings Style
Institutions with overlapping top holdings
HA
Heartland Advisors Inc
CIK 0000937394
Total reported value
$2.2B
244 stks
2026-06-30
Concentration2.8
Portfolio Stability27.6
Sector conviction36.6
Also holds Silicon Motion Technol-adr as its largest position
View detail
RP
Reinhart Partners, LLC.
CIK 0001080298
Total reported value
$4.4B
72 stks
2026-06-30
Concentration12.0
Portfolio Stability31.9
Sector conviction53.3
Also holds Silicon Motion Technol-adr as its largest position
View detail
SF
Systematic Financial Management LP
CIK 0001085936
Total reported value
$5.0B
406 stks
2026-06-30
Concentration3.4
Portfolio Stability26.3
Sector conviction40.7
Also holds Silicon Motion Technol-adr as its largest position
View detail
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Developer Access
Access HERALD INVESTMENT MANAGEMENT Ltd's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/herald-investment-management-ltdCLI
npx alphasmo institutions get herald-investment-management-ltd