Nine Ten Capital Management LLC

Q4 2025 13F-HR Holdings

Location
Chicago, IL
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
8
Total value ($000)
$315,831
Net value change ($000)
-72,168 (-18.6%)
New positions
0
Sold out positions
1
Turnover %
15.6%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
RHLD 10,047 109.8%
AGYS 4,936 12.9%
GPGI 2,429 5.5%
Top Reduces (Value $000, Stocks/ETFs)
SAPIENS INTERNATIONAL CORP N V -49,417 -100.0%
MGNI -13,512 -21.7%
IRMD -13,210 -24.1%
WINA -7,881 -18.9%
SNEX -4,320 -10.3%
CLBT -1,240 -2.7%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type