13F HOLDINGS REPORT
Herald Investment Management Ltd
Quarter ended Q2 2025 · Filed July 22, 2025 · Accession 0001512022-25-000006
Total Value
$674.3M
Positions
94
Other Managers
0
Confidential Omitted
No
Holdings (94)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Celestica Inc | CLS | 390,700 | $61.0M | 9.05% |
| 2 | Fabrinet | FN | 154,600 | $45.5M | 6.75% |
| 3 | Pegasystems Inc | PEGA | 703,600 | $38.1M | 5.65% |
| 4 | Super Micro Computer Inc | SMCI | 754,500 | $37.0M | 5.48% |
| 5 | Silicon Motion Technology Corp | SIMO | 384,906 | $28.9M | 4.28% |
| 6 | Varonis Systems Inc | VRNS | 443,500 | $22.5M | 3.34% |
| 7 | Arlo Technologies Inc | ARLO | 1,277,000 | $21.6M | 3.21% |
| 8 | RADWARE Ltd | RDWR | 675,000 | $19.8M | 2.94% |
| 9 | Descartes Systems Group Inc/The | 249906108 | 185,000 | $18.8M | 2.79% |
| 10 | CyberArk Software Ltd | M2682V108 | 42,300 | $17.2M | 2.55% |
| 11 | Leonardo DRS Inc | DRS | 300,000 | $13.9M | 2.07% |
| 12 | AvePoint Inc | AVPT | 700,000 | $13.5M | 2.00% |
| 13 | Microsoft Corp | MSFT | 24,300 | $12.1M | 1.79% |
| 14 | JFrog Ltd | FROG | 250,000 | $11.0M | 1.63% |
| 15 | Vicor Corp | VICR | 230,000 | $10.4M | 1.55% |
| 16 | Kulicke & Soffa Industries Inc | 501242101 | 296,100 | $10.2M | 1.52% |
| 17 | Amazon.com Inc | AMZN | 46,400 | $10.2M | 1.51% |
| 18 | Cogent Communications Holdings Inc | CCOI | 207,600 | $10.0M | 1.48% |
| 19 | Red Violet Inc | RDVT | 200,000 | $9.8M | 1.46% |
| 20 | Qualys Inc | QLYS | 65,000 | $9.3M | 1.38% |
| 21 | Alphabet Inc | GOOG | 50,200 | $8.8M | 1.31% |
| 22 | Ceva Inc | CEVA | 400,000 | $8.8M | 1.30% |
| 23 | Tower Semiconductor Ltd | TSEM | 198,000 | $8.6M | 1.27% |
| 24 | Harmonic Inc | HLIT | 785,000 | $7.4M | 1.10% |
| 25 | Five9 Inc | FIVN | 262,000 | $6.9M | 1.03% |
| 26 | SPS Commerce Inc | SPSC | 47,500 | $6.5M | 0.96% |
| 27 | First Advantage Corp | FA | 347,873 | $5.8M | 0.86% |
| 28 | Alkami Technology Inc | ALKT | 180,000 | $5.4M | 0.80% |
| 29 | Intellicheck Inc | IDN | 1,000,000 | $5.3M | 0.79% |
| 30 | HealthStream Inc | HSTM | 190,000 | $5.3M | 0.78% |
| 31 | nLight Inc | LASR | 260,000 | $5.1M | 0.76% |
| 32 | AvidXchange Holdings Inc | 05368X102 | 500,000 | $4.9M | 0.73% |
| 33 | Couchbase Inc | 22207T101 | 200,000 | $4.9M | 0.72% |
| 34 | Ouster Inc | OUST | 200,000 | $4.8M | 0.72% |
| 35 | Climb Global Solutions Inc | CLMB | 45,000 | $4.8M | 0.71% |
| 36 | SimilarWeb Ltd | SMWB | 600,000 | $4.7M | 0.70% |
| 37 | Spire Global Inc | SPIR | 386,249 | $4.6M | 0.68% |
| 38 | QuickLogic Corp | QUIK | 730,379 | $4.5M | 0.66% |
| 39 | Micron Technology Inc | MU | 36,000 | $4.4M | 0.66% |
| 40 | Advanced Micro Devices Inc | AMD | 30,920 | $4.4M | 0.65% |
| 41 | Electrovaya Inc | ELVA | 1,265,000 | $4.3M | 0.64% |
| 42 | PDF Solutions Inc | PDFS | 200,000 | $4.3M | 0.63% |
| 43 | Everspin Technologies Inc | MRAM | 675,000 | $4.2M | 0.63% |
| 44 | Vishay Precision Group Inc | VPG | 150,000 | $4.2M | 0.62% |
| 45 | Apple Inc | AAPL | 20,400 | $4.2M | 0.62% |
| 46 | FormFactor Inc | FORM | 118,300 | $4.1M | 0.60% |
| 47 | Veeco Instruments Inc | 922417100 | 200,000 | $4.1M | 0.60% |
| 48 | Franklin Covey Co | FC | 175,000 | $4.0M | 0.59% |
| 49 | Vertex Inc | VERX | 110,000 | $3.9M | 0.58% |
| 50 | Aviat Networks Inc | AVNW | 155,000 | $3.7M | 0.55% |
| 51 | RADCOM Ltd | RDCM | 275,000 | $3.7M | 0.55% |
| 52 | Ribbon Communications Inc | RBBN | 912,869 | $3.7M | 0.54% |
| 53 | Digital Turbine Inc | APPS | 600,000 | $3.5M | 0.52% |
| 54 | FARO Technologies Inc | 311642102 | 80,000 | $3.5M | 0.52% |
| 55 | Ooma Inc | OOMA | 260,000 | $3.4M | 0.50% |
| 56 | N-Able Inc | NABL | 413,000 | $3.3M | 0.50% |
| 57 | Bandwidth Inc | BAND | 210,000 | $3.3M | 0.50% |
| 58 | Onespan Inc | OSPN | 200,000 | $3.3M | 0.49% |
| 59 | Rimini Street Inc | 76674Q107 | 850,000 | $3.2M | 0.48% |
| 60 | BigCommerce Holdings Inc | CMRC | 625,000 | $3.1M | 0.46% |
| 61 | Bel Fuse Inc | BELFB | 30,000 | $2.9M | 0.43% |
| 62 | Arteris Inc | AIP | 300,000 | $2.9M | 0.42% |
| 63 | Kyndryl Holdings Inc | KD | 67,000 | $2.8M | 0.42% |
| 64 | Digi International Inc | 253798102 | 80,000 | $2.8M | 0.41% |
| 65 | Dynatrace Inc | DT | 50,000 | $2.8M | 0.41% |
| 66 | CI&T Inc | CINT | 450,000 | $2.7M | 0.40% |
| 67 | Inuvo Inc | INUV | 577,500 | $2.7M | 0.39% |
| 68 | Lantronix Inc | LTRX | 900,000 | $2.6M | 0.38% |
| 69 | Valens Semiconductor Ltd | VLN-WT | 950,000 | $2.5M | 0.37% |
| 70 | Kopin Corp | KOPN | 1,535,000 | $2.3M | 0.35% |
| 71 | Arista Networks Inc | ANET | 22,700 | $2.3M | 0.34% |
| 72 | Tecogen Inc/Waltham MA | TGEN | 321,078 | $2.2M | 0.33% |
| 73 | Power Integrations Inc | POWI | 38,000 | $2.1M | 0.31% |
| 74 | UiPath Inc | PATH | 161,280 | $2.1M | 0.31% |
| 75 | Himax Technologies Inc | HIMX | 230,000 | $2.1M | 0.30% |
| 76 | Check Point Software Technologies Ltd | CHKP | 9,200 | $2.0M | 0.30% |
| 77 | Zoom Communications Inc | ZM | 25,910 | $2.0M | 0.30% |
| 78 | Arrow Electronics Inc | 042735100 | 15,200 | $1.9M | 0.29% |
| 79 | Silicom Ltd | SILC | 125,000 | $1.9M | 0.28% |
| 80 | Teradyne Inc | TER | 20,600 | $1.9M | 0.27% |
| 81 | ADTRAN Holdings Inc | ADTN | 200,000 | $1.8M | 0.27% |
| 82 | Forrester Research Inc | 346563109 | 150,000 | $1.5M | 0.22% |
| 83 | M-Tron Industries Inc | 55380K109 | 35,000 | $1.5M | 0.22% |
| 84 | Freshworks Inc | FRSH | 90,000 | $1.3M | 0.20% |
| 85 | Genasys Inc | GNSS | 750,000 | $1.3M | 0.19% |
| 86 | Freightos Ltd | CRGOW | 500,000 | $1.2M | 0.18% |
| 87 | Mesa Laboratories Inc | 59064R109 | 12,500 | $1.2M | 0.17% |
| 88 | Issuer Direct Corp | ACCS | 90,000 | $1.1M | 0.16% |
| 89 | Texas Instruments Inc | 882508104 | 4,100 | $850,791 | 0.13% |
| 90 | Aware Inc/MA | AWRE | 430,000 | $808,400 | 0.12% |
| 91 | Cadence Design Systems Inc | CDNS | 2,500 | $769,900 | 0.11% |
| 92 | TTEC Holdings Inc | TTEC | 140,000 | $673,400 | 0.10% |
| 93 | Bel Fuse Inc | BELFB | 7,500 | $669,825 | 0.10% |
| 94 | Intel Corp | INTC | 19,000 | $425,220 | 0.06% |