Nine Ten Capital Management LLC

CIK 1635236 · View on SEC EDGAR ↗

Portfolio value
$321.3M
#4,984 of 9,443 by 13F value · top 52.8%
Positions
8
As of
June 30, 2026

Portfolio value QoQ: +2.1% 13F does not disclose cash

Top 10 holdings weight
100.00%
Top 25 holdings weight
100.00%
Positions above 1%
8
Effective number of positions
6.2

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 3.6% Est. buys $11,439,604 · sells $70,312,529

Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 66.7% still held

New positions
0
Increased
3
Decreased
3
Closed
1
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Performance vs S&P 500

Tracked Q4 2024–Q2 2026
+27.1%
S&P 500 total return (same window)
+28.1%
Excess return
-1.0%

Annualized: +17.4% · S&P 500: +18.0%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 97.4% · Options excluded: 0.0%

Sector breakdown

Technology
54.8%
Communication Services
19.3%
Retail
11.0%
Health Care
7.6%
Industrials
4.2%
Financial Services
3.1%

Full portfolio 8 positions

Type Streak 8Q trend
AGYS Agilysys, Inc. - Common Stock $68,501,000 21.32% 655,513 $22,005,000 Up ×2
MGNI Magnite, Inc. - Common Stock $61,899,000 19.26% 3,261,283 $20,541,000 Down ×1
CLBT Cellebrite DI Ltd. - Ordinary Shares $60,251,000 18.75% 4,126,808 $12,794,000 Up ×2
GPGI GPGI, Inc. Class A Common Stock $47,305,000 14.72% 2,984,544 $-2,363,000 Up ×6
WINA Winmark Corporation - Common Stock $35,400,000 11.02% 83,671 $-374,000
IRMD iRadimed Corporation - Common Stock $24,517,000 7.63% 256,562 $-7,681,000 Down ×4
RHLD Resolute Holdings Management - Common Stock $13,438,000 4.18% 92,980 $-1,653,000
SNEX StoneX Group Inc. - Common Stock $10,034,000 3.12% 84,679 $-36,741,000 Down ×1

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
GPGI $47,305,000 14.72% up ×6

Top movers (QoQ)

Security Action Shares Δ Value Δ
SNEX Trimmed -495K -$36.7M
AGYS Bought more +2K +$22.0M
MGNI Trimmed -220K +$20.5M
CLBT Bought more +683K +$12.8M
IRMD Trimmed -78K -$7.7M
GPGI Bought more +80K -$2.4M
RHLD Price move only +0 -$1.7M
WINA Price move only +0 -$374K

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
SPNS Dec. 31, 2025 1,149,230 $49,417,000 No longer tracked
XPEL March 31, 2025 190,716 $7,617,000 73.7%
NVEE June 30, 2025 379,852 $7,320,000 No longer tracked
FC June 30, 2025 114,818 $3,171,000 -12.2%