Institutional Manager · CIK 0001112325

RIVERBRIDGE PARTNERS LLC

MINNEAPOLIS, MN · File #028-05655

Latest AUM

$5.33B

Positions

188

Top-10 Concentration

39.7%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
ADD	ServiceNow, Inc.	NOW	+374,813	+$57.4M	-$76.0M
ADD	Ishares Core S&P 500 Etf	464287200	+78,407	+$53.7M	+$101,609
REDUCE	Medpace Holdings, Inc.	MEDP	-92,119	-$51.7M	+$17.3M
ADD	Netflix Inc.	NFLX	+451,500	+$42.3M	-$58.1M
REDUCE	NVIDIA Corporation	NVDA	-197,851	-$36.9M	-$137,945
ADD	SAP SE ADR	SAPGF	+133,591	+$32.5M	-$21,871
REDUCE	Rollins, Inc.	ROL	-456,135	-$27.4M	+$2.6M
REDUCE	Five Below, Inc.	FIVE	-144,505	-$27.2M	+$32.3M
REDUCE	Tesla, Inc.	TSLA	-55,259	-$24.9M	+$940,862
ADD	Ishares Tr Russell 2000	464287655	+93,540	+$23.0M	+$14,931

Sector Allocation

Technology

31.6%$1.69B

Healthcare

15.1%$803.6M

Industrials

11.2%$595.7M

Consumer Discretionary

11.0%$588.7M

Consumer Staples

3.9%$206.7M

Financials

3.4%$181.4M

Real Estate

1.9%$99.7M

Communication Services

1.2%$66.6M

Materials

0.1%$7.6M

Filing History

Jan 13, 202613F HOLDINGS REPORTQ/E Dec 2025188 pos · $5.33B
Oct 14, 202513F HOLDINGS REPORTQ/E Sep 2025186 pos · $5.93B
Jul 15, 202513F HOLDINGS REPORTQ/E Jun 2025185 pos · $6.22B
Apr 21, 202513F HOLDINGS REPORTQ/E Mar 2025180 pos · $6.23B
Jan 17, 202513F HOLDINGS REPORTQ/E Dec 2024179 pos · $7.33B
Oct 15, 202413F HOLDINGS REPORTQ/E Sep 2024182 pos · $7.49B
Jul 17, 202413F HOLDINGS REPORTQ/E Jun 2024178 pos · $7.36B
Apr 26, 202413F HOLDINGS REPORTQ/E Mar 2024174 pos · $8.20B
Oct 16, 202313F HOLDINGS REPORTQ/E Dec 2023192 pos · $6.89B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	NVIDIA Corporation	NVDA	1,526,980	$284.8M	6.70%
2	Microsoft Corporation	MSFT	493,162	$238.5M	5.61%
3	HEICO Corporation	HEI-A	589,525	$190.8M	4.49%
4	RB Global, Inc.	RBA	1,501,366	$154.4M	3.63%
5	Five Below, Inc.	FIVE	814,643	$153.4M	3.61%
6	Medpace Holdings, Inc.	MEDP	272,969	$153.3M	3.61%
7	Grand Canyon Education, Inc.	LOPE	853,107	$141.9M	3.34%
8	Amazon.com, Inc.	AMZN	607,766	$140.3M	3.30%
9	Ensign Group, Inc.	ENSG	696,510	$121.3M	2.85%
10	Privia Health Group, Inc.	PRVA	4,583,590	$108.7M	2.56%
11	Tyler Technologies, Inc.	TYL	238,740	$108.4M	2.55%
12	Kinsale Capital Group, Inc.	49714P108	268,453	$105.0M	2.47%
13	Analog Devices, Inc.	ADI	374,366	$101.5M	2.39%
14	Workiva, Inc.	WK	1,153,427	$99.5M	2.34%
15	CoStar Group, Inc.	CSGP	1,452,546	$97.7M	2.30%
16	Fastenal Company	FAST	2,381,560	$95.6M	2.25%
17	Alphabet, Inc. Class A	GOOG	301,580	$94.4M	2.22%
18	Rollins, Inc.	ROL	1,545,713	$92.8M	2.18%
19	West Pharmaceutical Services,	955306105	318,613	$87.7M	2.06%
20	S&P Global, Inc.	SPGI	154,991	$81.0M	1.90%