Q4 2025 · 13F-HR
NEXT CENTURY GROWTH INVESTORS LLCholdings as filed
Filed 2026-02-13 · accession 0001134007-26-000002
$1.44B
Reported value
121
Positions
2025-12-31
Period end
The Brief · NEXT CENTURY GROWTH INVESTORS LLC · Q4 2025
AI · grounded in 13F
NEXT CENTURY GROWTH INVESTORS LLC established a new position in Axogen Inc AXGN worth $26.18M. The fund also opened new stakes in Almonty Industries ALM for $16.34M and Applied Optoelectronics AAOI for $16.22M. On the sell side, the fund closed its positions in Argan Inc AGX and Avepoint Inc AVPT, reducing exposure by $17.81M and $15.44M respectively.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 046433108 | ATRO | Astronics Corp | $57.9M | 4.02% | 1,067,612 | Common | SOLE |
| 02081G201 | ATEC | Alphatec Holdings Inc | $50.9M | 3.53% | 2,418,298 | Common | SOLE |
| 98423F109 | XMTR | Xometry Inc | $47.8M | 3.32% | 803,613 | Common | SOLE |
| 228903100 | AORT | Artivion Inc | $47.6M | 3.31% | 1,044,395 | Common | SOLE |
| 01625V104 | ALHC | Alignment Healthcare | $45.6M | 3.17% | 2,308,287 | Common | SOLE |
| 70439P108 | PAY | Paymentus Holdings | $37.3M | 2.59% | 1,181,624 | Common | SOLE |
| 450056106 | IRTC | iRhythm Holdings | $30.7M | 2.13% | 172,838 | Common | SOLE |
| 913915104 | UTI | Universal Technical Institute | $29.3M | 2.04% | 1,123,067 | Common | SOLE |
| 604749101 | MIRM | Mirum Pharmaceuticals | $29.1M | 2.02% | 368,035 | Common | SOLE |
| 55405W104 | MYRG | MYR Group Inc | $29.0M | 2.01% | 132,496 | Common | SOLE |
| 05463X106 | AXGN | Axogen Inc | $26.2M | 1.82% | 799,882 | Common | SOLE |
| 859241101 | STRL | Sterling Infrastruture | $25.1M | 1.74% | 81,939 | Common | SOLE |
| G3730v105 | — | FTAI Aviation | $23.2M | 1.61% | 117,912 | Common | SOLE |
| 67066G104 | NVDA | Nvidia Corporation | $23.2M | 1.61% | 124,203 | Common | SOLE |
| 518415104 | LSCC | Lattice Semiconductor Corp | $22.9M | 1.59% | 310,945 | Common | SOLE |
| 56146T103 | MAMA | Mama's Creations | $22.8M | 1.58% | 1,691,395 | Common | SOLE |
| 81663L200 | WGS | GeneDx Holdings | $22.6M | 1.57% | 173,411 | Common | SOLE |
| M6191J100 | FROG | JFrog | $22.4M | 1.55% | 357,976 | Common | SOLE |
| 037833100 | AAPL | Apple Computer Inc | $21.6M | 1.50% | 79,402 | Common | SOLE |
| 55405Y100 | MTSI | MACOM Technology Solutions Hol | $21.5M | 1.49% | 125,466 | Common | SOLE |
| 72703X106 | PL | Planet Labs PBC | $21.0M | 1.46% | 1,065,166 | Common | SOLE |
| 594918104 | MSFT | Microsoft Corp. | $20.9M | 1.45% | 43,212 | Common | SOLE |
| 19046P209 | CCB | Coastal Financial Corp | $20.4M | 1.42% | 178,224 | Common | SOLE |
| 000899104 | ADMA | ADMA Biologics | $20.1M | 1.39% | 1,100,773 | Common | SOLE |
| 038169207 | APLD | Applied Digital Corp | $19.5M | 1.36% | 797,237 | Common | SOLE |
| 533535100 | LINC | Lincoln Educational Services | $19.1M | 1.33% | 791,271 | Common | SOLE |
| 26701L100 | BROS | Dutch Bros Inc | $18.9M | 1.31% | 308,910 | Common | SOLE |
| 457642205 | INOD | Innodata Inc | $18.6M | 1.29% | 365,835 | Common | SOLE |
| 144285103 | CRS | Carpenter Technology | $18.4M | 1.28% | 58,555 | Common | SOLE |
| 19247G107 | COHR | Coherent Corp | $18.4M | 1.28% | 99,517 | Common | SOLE |
| 485924104 | KRMN | Karman Holdings | $17.0M | 1.18% | 232,320 | Common | SOLE |
| 75524B104 | RBC | RBC Bearings Inc | $16.5M | 1.14% | 36,764 | Common | SOLE |
| 020398707 | ALM | Almonty Industries | $16.3M | 1.14% | 1,855,260 | Common | SOLE |
| 03823U102 | AAOI | Applied Optoelectronics | $16.2M | 1.13% | 465,288 | Common | SOLE |
| 00650F109 | ADPT | Adaptive Biotechnologies | $15.3M | 1.06% | 943,597 | Common | SOLE |
| 70975L107 | PEN | Penumbra | $14.9M | 1.03% | 47,830 | Common | SOLE |
| 82982T106 | SITM | Sitime Corp | $13.8M | 0.96% | 39,199 | Common | SOLE |
| 88080T104 | WULF | Terawulf Inc | $13.6M | 0.94% | 1,180,535 | Common | SOLE |
| G52441105 | KMTS | Kestra Medical Technology | $12.4M | 0.86% | 465,845 | Common | SOLE |
| 89377M109 | TMDX | Transmedics Group Inc | $12.0M | 0.83% | 98,468 | Common | SOLE |
| 023135106 | AMZN | Amazon.Com | $11.9M | 0.82% | 51,436 | Common | SOLE |
| 358010106 | FEIM | Frequency Electronics | $11.8M | 0.82% | 219,463 | Common | SOLE |
| 15118V207 | CELH | Celsius Holdings | $11.3M | 0.79% | 247,930 | Common | SOLE |
| 87357P100 | TCMD | Tactile Systems | $11.3M | 0.79% | 389,980 | Common | SOLE |
| 70014A104 | PKE | Park AeroSpace | $11.2M | 0.78% | 526,054 | Common | SOLE |
| 00760J108 | AEHR | Aehr Test Systems | $11.2M | 0.77% | 552,506 | Common | SOLE |
| 11135F101 | AVGO | Broadcom | $11.0M | 0.76% | 31,792 | Common | SOLE |
| M5216V106 | GLBE | Global-E Online | $10.8M | 0.75% | 274,708 | Common | SOLE |
| 02079K305 | GOOGL | Alphabet Inc-Cl A | $10.7M | 0.75% | 34,294 | Common | SOLE |
| 000360206 | AAON | Aaon Inc | $10.6M | 0.74% | 139,381 | Common | SOLE |
| 52476L109 | LGN | Legence Corp | $10.4M | 0.72% | 242,045 | Common | SOLE |
| 64119N608 | NTSK | Netskope | $10.1M | 0.70% | 578,365 | Common | SOLE |
| G25457105 | CRDO | Credo Technology Group Holding | $10.1M | 0.70% | 70,232 | Common | SOLE |
| 78709Y105 | SAIA | Saia Inc | $10.0M | 0.70% | 30,739 | Common | SOLE |
| 00847J105 | AGYS | Agilysys | $9.9M | 0.68% | 82,990 | Common | SOLE |
| 681116109 | OLLI | Ollie's Bargain Outlet | $9.3M | 0.65% | 85,167 | Common | SOLE |
| 15643U104 | LEU | Centrus Energy Corp | $8.1M | 0.56% | 33,462 | Common | SOLE |
| 69120X206 | OWLT | Owlet Inc | $7.9M | 0.55% | 484,908 | Common | SOLE |
| 946784105 | WAY | Waystar Holdings | $7.8M | 0.54% | 237,035 | Common | SOLE |
| 85423L103 | SARO | StandardAero Inc | $7.7M | 0.54% | 269,301 | Common | SOLE |
| 04302A104 | AIP | Arteris | $7.6M | 0.53% | 493,367 | Common | SOLE |
| 98956A105 | ZETA | Zeta Global | $7.6M | 0.53% | 372,581 | Common | SOLE |
| 49714P108 | KNSL | Kinsale Capital Group | $7.0M | 0.48% | 17,833 | Common | SOLE |
| 705573103 | PEGA | Pegasystems | $7.0M | 0.48% | 116,666 | Common | SOLE |
| 38141G104 | GS | Goldman Sachs Group Com | $6.8M | 0.47% | 7,754 | Common | SOLE |
| 68628V308 | ORN | Orion Group Holdings | $6.6M | 0.46% | 667,654 | Common | SOLE |
| 553368101 | MP | MP Materials Corp | $6.6M | 0.46% | 131,327 | Common | SOLE |
| 443201108 | HWM | Howmet Aerospace | $6.6M | 0.46% | 32,122 | Common | SOLE |
| 71722W107 | PHAT | Phathom Pharmaceuticals | $6.5M | 0.45% | 393,774 | Common | SOLE |
| 008073108 | AVAV | Aerovironment | $6.5M | 0.45% | 26,691 | Common | SOLE |
| 349381103 | FIGR | Figure Technology Solutions | $6.4M | 0.45% | 157,017 | Common | SOLE |
| 09062W204 | BLFS | Biolife Solutions | $6.4M | 0.44% | 262,971 | Common | SOLE |
| 68401U204 | OPRX | Optimizerx Corp | $6.2M | 0.43% | 505,407 | Common | SOLE |
| 82509L107 | SHOP | Shopify Inc | $6.1M | 0.43% | 38,036 | Common | SOLE |
| 974155103 | WING | Wingstop | $6.1M | 0.42% | 25,642 | Common | SOLE |
| 30303M102 | META | Meta Platforms, Inc. | $6.1M | 0.42% | 9,183 | Common | SOLE |
| 108621103 | BWB | Bridgewater Bancshares | $5.9M | 0.41% | 339,012 | Common | SOLE |
| M7S64L123 | PGY | Pagaya Technologies | $5.9M | 0.41% | 283,680 | Common | SOLE |
| M8740S227 | TATT | TAT Technologies | $5.9M | 0.41% | 132,154 | Common | SOLE |
| 30049H102 | EVLV | Evolv Technologies | $5.9M | 0.41% | 820,478 | Common | SOLE |
| 55380K109 | MPTI | M-Tron Industries | $5.8M | 0.41% | 109,884 | Common | SOLE |
| 833445109 | SNOW | Snowflake Inc | $5.6M | 0.39% | 25,469 | Common | SOLE |
| 03831W108 | APP | Applovin | $5.5M | 0.38% | 8,190 | Common | SOLE |
| 369604301 | GE | GE Aerospace | $5.4M | 0.38% | 17,533 | Common | SOLE |
| 92537N108 | VRT | Vertiv Holdings | $5.4M | 0.37% | 33,111 | Common | SOLE |
| 71535D106 | PSNL | Personalis Inc | $5.0M | 0.35% | 624,363 | Common | SOLE |
| 88160R101 | TSLA | Tesla Motors Inc | $4.8M | 0.34% | 10,742 | Common | SOLE |
| 36828A101 | GEV | GE Vernova | $4.2M | 0.29% | 6,389 | Common | SOLE |
| 770700102 | HOOD | Robinhood Markets | $4.2M | 0.29% | 36,767 | Common | SOLE |
| 093712107 | BE | Bloom Energy Corp | $4.0M | 0.28% | 45,776 | Common | SOLE |
| 60937P106 | MDB | MongoDB | $3.8M | 0.26% | 8,974 | Common | SOLE |
| 05464C101 | AXON | Axon Enterprise | $3.7M | 0.25% | 6,442 | Common | SOLE |
| 092244102 | BRCB | Black Rock Coffee Bar | $3.6M | 0.25% | 161,601 | Common | SOLE |
| 457669307 | INSM | Insmed Inc | $3.5M | 0.25% | 20,301 | Common | SOLE |
| 92826C839 | V | Visa Inc | $3.4M | 0.23% | 9,580 | Common | SOLE |
| 74275K108 | PCOR | Procore Technologies | $3.3M | 0.23% | 44,735 | Common | SOLE |
| 53947R105 | LOAR | Loar Holdings | $3.1M | 0.22% | 46,036 | Common | SOLE |
| 453204109 | PI | Impinj Inc | $3.0M | 0.21% | 17,444 | Common | SOLE |
| 04681Y103 | ASIC | Ategrity Specialty Holdings | $3.0M | 0.21% | 143,657 | Common | SOLE |
| 090168105 | BLLN | BillionToOne | $3.0M | 0.21% | 36,659 | Common | SOLE |
| 53263P105 | LMB | Limbach Holdings | $3.0M | 0.21% | 38,381 | Common | SOLE |
| 57636Q104 | MA | Mastercard Inc | $2.9M | 0.20% | 5,113 | Common | SOLE |
| 149123101 | CAT | Caterpillar | $2.9M | 0.20% | 5,026 | Common | SOLE |
| 007903107 | AMD | Advanced Micro Devices | $2.8M | 0.19% | 13,086 | Common | SOLE |
| 825704109 | SIBN | SI-BONE Inc | $2.8M | 0.19% | 141,998 | Common | SOLE |
| 086921103 | BETA | Beta Technologies | $2.7M | 0.19% | 94,526 | Common | SOLE |
| 911549103 | UAMY | United States Antimony | $2.4M | 0.17% | 480,430 | Common | SOLE |
| 146869102 | CVNA | Carvana | $2.4M | 0.16% | 5,604 | Common | SOLE |
| 097023105 | BA | Boeing Co | $2.4M | 0.16% | 10,834 | Common | SOLE |
| 74762E102 | QURE | Quanta Services | $2.3M | 0.16% | 5,496 | Common | SOLE |
| 77543R102 | ROKU | Roku Inc | $2.2M | 0.16% | 20,599 | Common | SOLE |
| 68389X105 | ORCL | Oracle Corporation | $2.2M | 0.15% | 11,385 | Common | SOLE |
| 40171V100 | GWRE | Guidewire Software | $2.0M | 0.14% | 9,943 | Common | SOLE |
| 81762P102 | NOW | ServiceNow Inc | $2.0M | 0.14% | 12,870 | Common | SOLE |
| 22160K105 | COST | Costco Wholesale Corp | $1.9M | 0.13% | 2,242 | Common | SOLE |
| 38267D109 | GSHD | Goosehead Insurance | $1.9M | 0.13% | 26,050 | Common | SOLE |
| 40131M109 | GH | Guardant Health | $1.9M | 0.13% | 18,484 | Common | SOLE |
| 22788C105 | CRWD | Crowdstrike Holdings Inc | $1.8M | 0.12% | 3,828 | Common | SOLE |
| 101137107 | BSX | Boston Scientific Corp | $972,379 | 0.07% | 10,198 | Common | SOLE |
| 390607109 | GLDD | Great Lakes Dredge & Doc | $400,422 | 0.03% | 30,520 | Common | SOLE |
| 55380K125 | MPTI/WS | M-Tron Industries - Warrants | $27,967 | 0.00% | 27,967 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.