HERALD INVESTMENT MANAGEMENT LTD
Q2 2025 Form 13-F
LONDON
CIK 0001512022
· Institutional investment manager
$674.3M Reported Value Total
Reported value
$674.3M
Quarter over quarter
+29.8%
Holdings
94
Top-10 concentration
46.0%
Key People
Named on the latest Form 13-F filing — not necessarily an owner
Mehul Bhudia
Head of Compliance
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
13F Metrics
Loading 13F Metrics
Q2 2025 13F record
Q2 2025 13F filing summary
| Period of report | June 30, 2025 |
|---|---|
| Filed | July 22, 2025 |
| Form | 13F-HR |
| Reported value | $674.3M |
| Positions | 94 |
| Change in reported value | +26.5% |
| New positions | 2 |
| Exited positions | 3 |
| Position turnover | 5.2% |
| Top-10 concentration | 46.0% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q3 2026 13F
Filed Oct 5, 2026
|
0 | $0 |
|
Q2 2026 13F
Filed Jul 23, 2026
|
92 | $737.3M |
|
Q1 2026 13F
Filed May 13, 2026
|
97 | $717.6M |
|
Q4 2025 13F
Filed Feb 13, 2026
|
97 | $765.5M |
|
Q3 2025 13F
Filed Nov 7, 2025
|
94 | $750.7M |
|
Q2 2025 13F
Filed Jul 22, 2025
|
94 | $674.3M |
|
Q1 2025 13F
Filed May 12, 2025
|
95 | $533.0M |
|
Q4 2024 13F
Filed Feb 13, 2025
|
94 | $610.9M |
|
Q3 2024 13F
Filed Nov 13, 2024
|
94 | $580.4M |
|
Q2 2024 13F
Filed Aug 9, 2024
|
96 | $610.2M |
|
Q1 2024 13F
Filed May 13, 2024
|
98 | $616.8M |
|
Q4 2023 13F
Filed Feb 14, 2024
|
98 | $523.5M |
|
Q3 2023 13F
Filed Nov 13, 2023
|
101 | $470.4M |
|
Q2 2023 13F
Filed Jul 25, 2023
|
100 | $514.9M |
|
Q1 2023 13F
Filed May 4, 2023
|
96 | $450.1M |
|
Q4 2022 13F
Filed Feb 14, 2023
|
96 | $407.4M |
|
Q3 2022 13F
Filed Nov 7, 2022
|
102 | $405.6M |
|
Q2 2022 13F
Filed Aug 4, 2022
|
105 | $430.5M |
|
Q1 2022 13F
Filed May 16, 2022
|
107 | $549.1M |
|
Q4 2021 13F
Filed Feb 15, 2022
|
102 | $616.4M |
33 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q2 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | CLS Celestica Inc | $61.0M | 9.05% |
| 2 | FN Fabrinet | $45.5M | 6.75% |
| 3 | PEGA Pegasystems Inc | $38.1M | 5.65% |
| 4 | SMCI Super Micro Computer Inc | $37.0M | 5.48% |
| 5 | SIMO Silicon Motion Technology Corp | $28.9M | 4.28% |
| 6 | VRNS Varonis Systems Inc | $22.5M | 3.34% |
| 7 | ARLO Arlo Technologies Inc | $21.6M | 3.21% |
| 8 | RDWR RADWARE Ltd | $19.8M | 2.94% |
| 9 | DSGX Descartes Systems Group Inc/The | $18.8M | 2.79% |
| 10 | CYBR CyberArk Software Ltd | $17.2M | 2.55% |
| 11 | DRS Leonardo DRS Inc | $13.9M | 2.07% |
| 12 | AVPT AvePoint Inc | $13.5M | 2.0% |
| 13 | MSFT Microsoft Corp | $12.1M | 1.79% |
| 14 | FROG JFrog Ltd | $11.0M | 1.63% |
| 15 | VICR Vicor Corp | $10.4M | 1.55% |
| 16 | KLIC Kulicke & Soffa Industries Inc | $10.2M | 1.52% |
| 17 | AMZN Amazon.com Inc | $10.2M | 1.51% |
| 18 | COI Cogent Communications Holdings Inc | $10.0M | 1.48% |
| 19 | RDVT Red Violet Inc | $9.8M | 1.46% |
| 20 | QLYS Qualys Inc | $9.3M | 1.38% |
Values as reported on the Q2 2025 Form 13F. Every position is in the holdings table below.