HERALD INVESTMENT MANAGEMENT Ltd

Q4 2025 13F-HR Holdings

Location
London, X0
Holdings as of
12/31/2025
Date filed
2/13/2026
Form type
13F-HR
Num holdings
97
Total value ($000)
$765,530
Net value change ($000)
+14,785 (2.0%)
New positions
7
Sold out positions
4
Turnover %
5.7%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/7/2025 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)
VICR 14,442 116.4%
DOCN 9,708 NEW
TSEM 6,783 47.4%
PLUS 6,558 NEW
VIAV 4,901 NEW
BRZE 4,286 NEW
ELVA 3,882 52.1%
POWI 3,803 249.1%
MU 3,534 58.7%
POWL 3,185 NEW
Top Reduces (Value $000, Stocks/ETFs)
CLS -14,615 -17.7%
SMCI -13,733 -39.8%
VRNS -9,634 -37.8%
AVDX -4,975 -100.0%
FN -4,213 -7.9%
CCOI -4,074 -43.8%
ARLO -3,360 -15.5%
DRS -3,226 -24.9%
INUV -2,014 -100.0%
LTRX -1,824 -100.0%
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