American Capital Management Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), American Capital Management Inc. reported 63 stock positions worth $2.5 billion. Its top holding was Cyberark Software Ltd./Israel (CYBR) at 6.9% of the portfolio, followed by Fortinet (FTNT, 5.0%) and Aerovironment (AVAV, 4.6%). Compared with Q4 2024, it opened 4 new positions, sold out of 4, added to 31 and reduced 25. The biggest buy was Varonis Systems (VRNS, shares +105%) and the biggest sale an exit from Aspen Technology (AZPN).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001320168
- Portfolio Value
- $2.5B (Q1 2025)
- SEC Filing
- 0001104659-25-049586 ↗ filed May 15, 2025
Holdings Value
Holdings 63 stocks · $2.5B
| CYBR Cyberark Software Ltd./Israel | 6.86% | 498,771 | $168.6M | Reduce -22.4% |
| FTNT Fortinet Inc. | 5.04% | 1,286,720 | $123.9M | Reduce -13.7% |
| AVAV Aerovironment Inc. | 4.60% | 947,949 | $113.0M | Add +1.9% |
| CVLT Commvault Systems Inc. | 4.33% | 675,191 | $106.5M | Reduce -2.9% |
| MEDP Medpace Holdings Inc. | 4.03% | 324,811 | $99.0M | Reduce -1.4% |
| IDXX Idexx Laboratories Inc. | 3.79% | 221,606 | $93.1M | Add +7.5% |
| RMD Resmed Inc. | 3.59% | 394,534 | $88.3M | Add +0.5% |
| FDS Factset Research Systems Inc. | 3.29% | 177,632 | $80.8M | Add +2.1% |
| KTOS Kratos Defense & Security | 3.14% | 2,597,876 | $77.1M | Add +0.9% |
| GWRE Guidewire Software Inc. | 3.06% | 400,859 | $75.1M | Reduce -2.8% |
| MANH Manhattan Associates Inc. | 3.03% | 430,213 | $74.4M | Add +0.1% |
| CSGP Costar Group Inc. | 3.02% | 938,142 | $74.3M | Add +0.1% |
| RBC RBC Bearings Inc. | 3.02% | 230,498 | $74.2M | Add +1.4% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 2.82% | 378,902 | $69.2M | Reduce -8.6% |
| QLYS Qualys Inc. | 2.75% | 535,691 | $67.5M | Reduce -0.3% |
| NICE Nice Ltd. - Spon ADR | 2.72% | 433,100 | $66.8M | Reduce -5.2% |
| TECH Bio-Techne Corp. | 2.69% | 1,125,648 | $66.0M | Add +5.8% |
| VEEV Veeva Systems Inc. Class A | 2.67% | 283,185 | $65.6M | Reduce -2.3% |
| RAMP Liveramp Holdings Inc. | 2.52% | 2,373,215 | $62.0M | Add +9.4% |
| CGNT Cognyte Software Ltd. | 2.12% | 6,665,590 | $52.0M | Add +4.4% |
| VRNS Varonis Systems Inc. | 2.06% | 1,253,001 | $50.7M | Add +105.0% |
| GNTX Gentex Corp. | 1.98% | 2,085,578 | $48.6M | Reduce -1.0% |
| RGEN Repligen Corp. | 1.97% | 380,982 | $48.5M | Reduce -0.7% |
| TW Tradeweb Markets Inc. Class A | 1.90% | 314,124 | $46.6M | Add +5.3% |
| SEIC Sei Investments Company | 1.65% | 520,906 | $40.4M | Add +4.8% |
| NEOG Neogen Corp. | 1.63% | 4,610,506 | $40.0M | Add +29.8% |
| MORN Morningstar Inc. | 1.56% | 128,075 | $38.4M | Reduce -0.5% |
| NCNO Ncino Inc. | 1.51% | 1,348,206 | $37.0M | Add +7.8% |
| CGNX Cognex Corp. | 1.44% | 1,187,814 | $35.4M | Reduce -18.3% |
| SPSC SPS Commerce Inc. | 1.42% | 263,437 | $35.0M | Add +28.1% |
| KRNT Kornit Digital Ltd. | 1.41% | 1,813,883 | $34.6M | Reduce -4.3% |
| PAYC Paycom Software Inc. | 1.37% | 153,763 | $33.6M | Reduce -0.7% |
| ANSS Ansys Inc. | 1.36% | 105,446 | $33.4M | Reduce -4.2% |
| DXCM Dexcom Inc. | 1.11% | 400,793 | $27.4M | Add +31.0% |
| AZTA Azenta Inc. | 1.06% | 751,546 | $26.0M | Add +13.9% |
| CRNC Cerence Inc. | 0.96% | 2,982,162 | $23.6M | Reduce -14.5% |
| GMED Globus Medical Inc. Class A | 0.88% | 294,841 | $21.6M | Add +790.5% |
| STAA Staar Surgical Co. | 0.72% | 1,010,164 | $17.8M | Add +19.1% |
| TREX Trex Company Inc. | 0.70% | 297,395 | $17.3M | Add +85.5% |
| BLKB Blackbaud Inc. | 0.68% | 270,215 | $16.8M | Reduce -24.9% |
| TYL Tyler Technologies Inc. | 0.63% | 26,471 | $15.4M | Reduce -1.9% |
| ICLR Icon PLC | 0.52% | 73,680 | $12.9M | Reduce -9.3% |
| MMSI Merit Medical Systems Inc. | 0.37% | 85,049 | $9.0M | Add +5.7% |
| ORLY O'reilly Automotive Inc. | 0.34% | 5,749 | $8.2M | Add +858.2% |
| ALRM Alarm.com Holdings Inc. | 0.27% | 119,332 | $6.6M | Reduce -7.0% |
| HAE Haemonetics Corp. | 0.26% | 100,915 | $6.4M | Add +26.1% |
| PODD Insulet Corp. | 0.18% | 16,900 | $4.4M | Add +14.2% |
| CRL Charles River Laboratories | 0.17% | 27,800 | $4.2M | Reduce -26.5% |
| MPWR Monolithic Power Systems Inc. | 0.17% | 7,098 | $4.1M | Reduce -0.3% |
| DORM Dorman Products Inc. | 0.10% | 20,343 | $2.5M | Add +11.8% |
| FELE Franklin Electric Co. Inc. | 0.10% | 25,000 | $2.3M | No change |
| PRLB Proto Labs Inc. | 0.07% | 50,112 | $1.8M | New |
| HOLX Hologic Inc. | 0.06% | 23,780 | $1.5M | New |
| TRMB Trimble Inc. | 0.06% | 22,000 | $1.4M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.06% | 2,535 | $1.4M | Reduce -4.9% |
| DSGX The Descartes Systems Grp | 0.05% | 11,633 | $1.2M | Add +62.9% |
| ACIW Aci Worldwide Inc. | 0.04% | 18,385 | $1.0M | Add +0.0% |
| ZBRA Zebra Technologies Corp. Class A | 0.04% | 3,300 | $932K | Add +266.7% |
| NEO Neogenomics Inc. | 0.03% | 81,062 | $769K | New |
| GHM Graham Corp. | 0.03% | 23,894 | $689K | Add +2.8% |
| FROG Jfrog Ltd. | 0.01% | 11,265 | $360K | New |
| AAPL Apple Inc. | 0.01% | 1,316 | $292K | No change |
| VRNT Verint Systems Inc. | 0.01% | 13,100 | $234K | Reduce -77.7% |
Portfolio Sells Q4 2024 → Q1 2025
| AZPN Aspen Technology Inc. | Sold out | 0.00% | −1.65 |
| CYBR Cyberark Software Ltd./Israel | Reduce -22.4% | 6.86% | −1.11 |
| KRNT Kornit Digital Ltd. | Reduce -4.3% | 1.41% | −0.78 |
| CGNX Cognex Corp. | Reduce -18.3% | 1.44% | −0.50 |
| BLKB Blackbaud Inc. | Reduce -24.9% | 0.68% | −0.31 |
| GNTX Gentex Corp. | Reduce -1.0% | 1.98% | −0.28 |
| FTNT Fortinet Inc. | Reduce -13.7% | 5.04% | −0.20 |
| NICE Nice Ltd. - Spon ADR | Reduce -5.2% | 2.72% | −0.17 |
| ICLR Icon PLC | Reduce -9.3% | 0.52% | −0.11 |
| CRL Charles River Laboratories | Reduce -26.5% | 0.17% | −0.09 |
| RGEN Repligen Corp. | Reduce -0.7% | 1.97% | −0.08 |
| CRNC Cerence Inc. | Reduce -14.5% | 0.96% | −0.06 |
| QLYS Qualys Inc. | Reduce -0.3% | 2.75% | −0.06 |
| MORN Morningstar Inc. | Reduce -0.5% | 1.56% | −0.05 |
| VRNT Verint Systems Inc. | Reduce -77.7% | 0.01% | −0.05 |
| MEDP Medpace Holdings Inc. | Reduce -1.4% | 4.03% | −0.05 |
| ANSS Ansys Inc. | Reduce -4.2% | 1.36% | −0.02 |
| ALRM Alarm.com Holdings Inc. | Reduce -7.0% | 0.27% | −0.02 |
| GLOB Globant SA | Sold out | 0.00% | −0.01 |
| ILMN Illumina Inc. | Sold out | 0.00% | −0.01 |
| MDY State Street SPDR S&P Midcap | Sold out | 0.00% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -4.9% | 0.06% | −0.00 |
| MPWR Monolithic Power Systems Inc. | Reduce -0.3% | 0.17% | +0.01 |
| TYL Tyler Technologies Inc. | Reduce -1.9% | 0.63% | +0.05 |
| JKHY Jack Henry & Associates Inc. | Reduce -8.6% | 2.82% | +0.11 |
| PAYC Paycom Software Inc. | Reduce -0.7% | 1.37% | +0.19 |
| VEEV Veeva Systems Inc. Class A | Reduce -2.3% | 2.67% | +0.40 |
| CVLT Commvault Systems Inc. | Reduce -2.9% | 4.33% | +0.43 |
| GWRE Guidewire Software Inc. | Reduce -2.8% | 3.06% | +0.47 |
Portfolio Buys Q4 2024 → Q1 2025
| VRNS Varonis Systems Inc. | Add +105.0% | 2.06% | +1.05 |
| GMED Globus Medical Inc. Class A | Add +790.5% | 0.88% | +0.78 |
| IDXX Idexx Laboratories Inc. | Add +7.5% | 3.79% | +0.62 |
| KTOS Kratos Defense & Security | Add +0.9% | 3.14% | +0.61 |
| CSGP Costar Group Inc. | Add +0.1% | 3.02% | +0.53 |
| RBC RBC Bearings Inc. | Add +1.4% | 3.02% | +0.49 |
| TW Tradeweb Markets Inc. Class A | Add +5.3% | 1.90% | +0.44 |
| ORLY O'reilly Automotive Inc. | Add +858.2% | 0.34% | +0.31 |
| TREX Trex Company Inc. | Add +85.5% | 0.70% | +0.29 |
| RMD Resmed Inc. | Add +0.5% | 3.59% | +0.25 |
| DXCM Dexcom Inc. | Add +31.0% | 1.11% | +0.23 |
| FDS Factset Research Systems Inc. | Add +2.1% | 3.29% | +0.18 |
| SEIC Sei Investments Company | Add +4.8% | 1.65% | +0.12 |
| MMSI Merit Medical Systems Inc. | Add +5.7% | 0.37% | +0.08 |
| PRLB Proto Labs Inc. | New | 0.07% | +0.07 |
| RAMP Liveramp Holdings Inc. | Add +9.4% | 2.52% | +0.07 |
| CGNT Cognyte Software Ltd. | Add +4.4% | 2.12% | +0.06 |
| HOLX Hologic Inc. | New | 0.06% | +0.06 |
| PODD Insulet Corp. | Add +14.2% | 0.18% | +0.04 |
| NEO Neogenomics Inc. | New | 0.03% | +0.03 |
| HAE Haemonetics Corp. | Add +26.1% | 0.26% | +0.03 |
| ZBRA Zebra Technologies Corp. Class A | Add +266.7% | 0.04% | +0.03 |
| NEOG Neogen Corp. | Add +29.8% | 1.63% | +0.02 |
| DSGX The Descartes Systems Grp | Add +62.9% | 0.05% | +0.02 |
| FROG Jfrog Ltd. | New | 0.01% | +0.01 |
| SPSC SPS Commerce Inc. | Add +28.1% | 1.42% | +0.01 |
| DORM Dorman Products Inc. | Add +11.8% | 0.10% | +0.01 |
| ACIW Aci Worldwide Inc. | Add +0.0% | 0.04% | +0.01 |
| GHM Graham Corp. | Add +2.8% | 0.03% | −0.01 |
| STAA Staar Surgical Co. | Add +19.1% | 0.72% | −0.04 |
| NCNO Ncino Inc. | Add +7.8% | 1.51% | −0.06 |
| TECH Bio-Techne Corp. | Add +5.8% | 2.69% | −0.17 |
| AZTA Azenta Inc. | Add +13.9% | 1.06% | −0.17 |
| AVAV Aerovironment Inc. | Add +1.9% | 4.60% | −0.73 |
| MANH Manhattan Associates Inc. | Add +0.1% | 3.03% | −1.29 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 79 | $2.2B | PANW, FTNT, MEDP, VRNS, RBC |
| Q1 2026 | 74 | $1.9B | MEDP, PANW, RBC, IDXX, AVAV |
| Q4 2025 | 68 | $2.3B | AVAV, CYBR, MEDP, KTOS, IDXX |
| Q3 2025 | 68 | $2.5B | AVAV, KTOS, CYBR, MEDP, IDXX |
| Q2 2025 | 63 | $2.4B | AVAV, CYBR, FTNT, KTOS, IDXX |
| Q1 2025 | 63 | $2.5B | CYBR, FTNT, AVAV, CVLT, MEDP |
| Q4 2024 | 63 | $2.7B | CYBR, AVAV, FTNT, MANH, MEDP |
| Q3 2024 | 61 | $3.1B | AVAV, CYBR, MANH, FTNT, MEDP |
| Q2 2024 | 62 | $3.0B | AVAV, CYBR, MANH, MEDP, IDXX |
| Q1 2024 | 64 | $3.1B | CYBR, AVAV, FTNT, MANH, IDXX |