KA
Kopion Asset Management, LLC — 13F Portfolio Changes & Top Buys (Q2 2026)
Kopion Asset Management, LLCCIK: 0001728689
Sector-focusedMomentum followerQuality / disciplined sizing
Total reported value
$158.2M
Reporting period: 2026-06-30 · Number of holdings: 21
Kopion Asset Management, LLC disclosed 21 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $158.2M and a quarterly turnover rate of 28.3%.
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Personality snowflake
- Concentration
- 24.86
- Portfolio Stability
- 28.34
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 42
- Sizing Uniformity
- 94.34
Kopion Asset Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.062 — mathematically equivalent to about 16 equally-sized positions, close to its 21 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.57), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 4.7 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 43% 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 TNC
-41.8% -$2.6M
Add TYL
+411.3% $4.4M
Trim BWA
-42.6% -$2.0M
Add CERT
+44.2% $4.8M
Add VRNS
-22.9% $5.4M
Trim FTI
-7.6% -$841.2K
Holdings Map
New buyAddUnchangedTrim
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Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VRNS | Varonis Systems Inc | Stock-Tech | 10.13% | +1.85% | -22.92% | |
| 2 | NICE | Nice LTD - Spon Adr | Stock-Tech | 8.40% | -1.47% | +27.16% | |
| 3 | TRUP | Trupanion Inc | Stock-Other | 8.19% | +0.23% | +30.85% | |
| 4 | MGNI | Magnite Inc | Stock-Other | 8.09% | +0.18% | -21.20% | |
| 5 | CERT | Certara Inc | Stock-Other | 7.69% | +1.98% | +44.25% | |
| 6 | SSTI | Soundthinking Inc | Stock-Other | 6.38% | +1.37% | +14.64% | |
| 7 | AIOT | Powerfleet Inc | Stock-Other | 5.87% | +0.03% | -0.51% | |
| 8 | ACIW | Aci Worldwide Inc | Stock-Tech | 5.74% | -0.05% | -0.47% | |
| 9 | TNC | Tennant Co | Stock-Other | 5.53% | -3.33% | -41.78% | |
| 10 | SSYS | Stratasys Ltd. | Stock-Other | 5.13% | -0.50% | +2.28% | |
| 11 | CGNX | Cognex CORP | Stock-Tech | 4.18% | +0.52% | -4.94% | |
| 12 | FTI | TechnipFMC plc | Stock-Energy | 4.15% | -1.61% | -7.57% | |
| 13 | ERII | Energy Recovery Inc | Stock-Other | 3.65% | -0.32% | +26.15% | |
| 14 | TYL | Tyler Technologies Inc | Stock-Tech | 3.62% | +2.60% | +411.35% | |
| 15 | HXL | Hexcel CORP | Stock-Industrials | 2.96% | -0.47% | -13.94% | |
| 16 | BWA | Borgwarner Inc | Stock-Consumer Disc | 2.91% | -2.20% | -42.63% | |
| 17 | SLP | Simulations Plus Inc | Stock-Other | 2.14% | +0.09% | -17.01% | |
| 18 | CYRX | Cryoport Inc | Stock-Other | 2.07% | +0.72% | -0.47% | |
| 19 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-Gov Bonds | 1.84% | -0.44% | -0.65% | |
| 20 | TREX | Trex Company Inc | Stock-Industrials | 0.92% | +0.92% | NEW | |
| 21 | COHR | Coherent CORP | Stock-Tech | 0.42% | -0.07% | -36.58% |
Portfolio Performance
Performance for Q3 2026
+9.4%
Performance Last 4 Quarters
+15.9%
- Stdev
- +21%
- Beta
- +1.27
- Alpha
- -3.2%
- Max Drawdown
- -14.6%
- Annualized Perf
- +21.9%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.08
- Stutzer
- +0.31
- Treynor
- +0.17
- Sterling
- +1.05
- Calmar
- +1.51
- Information Ratio
- +0.15
- Tracking Error
- +13.5%
- Stdev Down
- +10.6%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +53.9%
- Worst 12 Months
- -7%
- Efficiency Ratio
- +0.44
- Sharpe
- +1.05
- Stdev Sectors
- +28.8%
- Skewness
- +0.15
- Kurtosis
- -1.07
- Upside Potential
- +3.92
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 21 | $158.2M | 28 | ||
| 2026 Q1 | 20 | $128.5M | 20 | ||
| 2025 Q4 | 18 | $139.9M | 23 | ||
| 2025 Q3 | 19 | $154.3M | 31 | ||
| 2025 Q2 | 20 | $148.3M | 0 | ||
| 2025 Q1 | 20 | $128.5M | 100 | ||
| 2024 Q4 | 20 | $142.4M | 0 | ||
| 2024 Q3 | 19 | $138.9M | 0 | ||
| 2024 Q2 | 18 | $140.9M | 0 | ||
| 2024 Q1 | 18 | $140.7M | 0 | ||
| 2023 Q4 | 18 | $130.5M | 0 | ||
| 2023 Q3 | 18 | $112.1M | 0 | ||
| 2023 Q2 | 19 | $118.1M | — | ||
| 2023 Q1 | 19 | $115.0M | — | ||
| 2022 Q4 | 18 | $98.9M | — | ||
| 2022 Q3 | 18 | $91.2M | 0 | ||
| 2022 Q2 | 17 | $93.9M | 0 | ||
| 2022 Q1 | 18 | $118.0M | 0 | ||
| 2021 Q4 | 18 | $120.9M | 0 | ||
| 2021 Q3 | 18 | $125.0M | 0 | ||
| 2021 Q2 | 20 | $144.2M | 100 | ||
| 2021 Q1 | 20 | $134.2M | 24 | ||
| 2020 Q4 | 22 | $124.5M | 38 | ||
| 2020 Q3 | 21 | $87.0M | 29 | ||
| 2020 Q2 | 21 | $88.3M | 34 | ||
| 2020 Q1 | 21 | $69.0M | 38 | ||
| 2019 Q4 | 20 | $100.7M | — |
Holding changes this quarter
Kopion Asset Management, LLC's most significant position changes for 2026-06-30: New buy: Trex Company Inc (TREX); Trim: Tennant Co (TNC) — shares -41.78%; Add: Tyler Technologies Inc (TYL) — shares +411.35%; Trim: Borgwarner Inc (BWA) — shares -42.63%; Add: Certara Inc (CERT) — shares +44.25%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TYL | Tyler Technologies Inc | +2.6% | +411.35% | Add |
| 2 | CERT | Certara Inc | +2% | +44.25% | Add |
| 3 | VRNS | Varonis Systems Inc | +1.9% | -22.92% | Trim |
| 4 | SSTI | Soundthinking Inc | +1.4% | +14.64% | Add |
| 5 | TREX | Trex Company Inc | +0.9% | NEW | New buy |
| 6 | CYRX | Cryoport Inc | +0.7% | -0.47% | Trim |
| 7 | CGNX | Cognex CORP | +0.5% | -4.94% | Trim |
| 8 | TRUP | Trupanion Inc | +0.2% | +30.85% | Add |
| 9 | MGNI | Magnite Inc | +0.2% | -21.20% | Trim |
| 10 | SLP | Simulations Plus Inc | +0.1% | -17.01% | Trim |
| 11 | AIOT | Powerfleet Inc | 0% | -0.51% | Trim |
| 12 | ACIW | Aci Worldwide Inc | -0.1% | -0.47% | Trim |
| 13 | COHR | Coherent CORP | -0.1% | -36.58% | Trim |
| 14 | ERII | Energy Recovery Inc | -0.3% | +26.15% | Add |
| 15 | BIL | Ss Spdr Bb 1-3m T-bill ETF | -0.4% | -0.65% | Trim |
| 16 | HXL | Hexcel CORP | -0.5% | -13.94% | Trim |
| 17 | SSYS | Stratasys Ltd. | -0.5% | +2.28% | Add |
| 18 | NICE | Nice LTD - Spon Adr | -1.5% | +27.16% | Add |
| 19 | FTI | TechnipFMC plc | -1.6% | -7.57% | Trim |
| 20 | BWA | Borgwarner Inc | -2.2% | -42.63% | Trim |
| 21 | TNC | Tennant Co | -3.3% | -41.78% | Trim |
Filing History
FAQ
What is Kopion Asset Management, LLC and what type of investor is it?
Kopion Asset Management, LLC 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 $158.2M, spread across 21 disclosed positions.
What are Kopion Asset Management, LLC's largest equity positions?
Based on the latest 13F filing, Kopion Asset Management, LLC's top holdings by market value are:
1. Varonis Systems Inc (VRNS) — $16.0M (10.1%)
2. Nice LTD - Spon Adr (NICE) — $13.3M (8.4%)
3. Trupanion Inc (TRUP) — $13.0M (8.2%)
4. Magnite Inc (MGNI) — $12.8M (8.1%)
5. Certara Inc (CERT) — $12.2M (7.7%)
What changes did Kopion Asset Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, Kopion Asset Management, LLC made 21 notable position adjustments: 1 new positions were initiated, 7 existing holdings were added to, 13 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: Trex Company Inc (TREX); Trim: Tennant Co (TNC) — shares -41.78%; Add: Tyler Technologies Inc (TYL) — shares +411.35%; Trim: Borgwarner Inc (BWA) — shares -42.63%; Add: Certara Inc (CERT) — shares +44.25%
What sectors does Kopion Asset Management, LLC focus on?
Kopion Asset Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 74.8%
• Energy: 9.6%
• Industrials: 8.9%
• Consumer Discretionary: 6.7%
Investment Profile
Kopion Asset Management, LLC returned an annualized 21.9% over the trailing 36 months — underperforming the S&P 500 by 3.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.27 (more volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 74.8% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 28 over the past 4 quarters — a shift toward more active trading.
It has added to its MGNI position over the past two quarters (+$2.8M, now $12.8M), while trimming FTI over the same stretch (-$4.5M, still holding $6.6M).
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Developer Access
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