American Capital Management Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), American Capital Management Inc. reported 68 stock positions worth $2.5 billion. Its top holding was Aerovironment (AVAV) at 9.0% of the portfolio, followed by Kratos Defense & Security (KTOS, 7.3%) and Cyberark Software Ltd./Israel (CYBR, 6.7%). Compared with Q2 2025, it opened 6 new positions, sold out of 1, added to 18 and reduced 37. The biggest buy was a new position in Aaon (AAON) and the biggest sale an exit from Ansys (ANSS).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001320168
- Portfolio Value
- $2.5B (Q3 2025)
- SEC Filing
- 0001104659-25-112700 ↗ filed Nov 14, 2025
Holdings Value
Holdings 68 stocks · $2.5B
| AVAV Aerovironment Inc. | 9.05% | 721,110 | $227.1M | Reduce -4.8% |
| KTOS Kratos Defense & Security | 7.32% | 2,010,001 | $183.7M | Reduce -12.4% |
| CYBR Cyberark Software Ltd./Israel | 6.74% | 349,980 | $169.1M | Reduce -16.2% |
| MEDP Medpace Holdings Inc. | 5.10% | 248,757 | $127.9M | Reduce -6.3% |
| IDXX Idexx Laboratories Inc. | 4.69% | 184,298 | $117.7M | Reduce -2.5% |
| CVLT Commvault Systems Inc. | 4.02% | 534,413 | $100.9M | Reduce -3.4% |
| RMD Resmed Inc. | 3.39% | 310,853 | $85.1M | Reduce -2.2% |
| RBC RBC Bearings Inc. | 3.39% | 217,819 | $85.0M | Add +1.5% |
| FTNT Fortinet Inc. | 3.23% | 963,358 | $81.0M | Reduce -4.8% |
| VRNS Varonis Systems Inc. | 3.14% | 1,371,806 | $78.8M | Add +16.3% |
| GWRE Guidewire Software Inc. | 3.04% | 332,082 | $76.3M | Reduce -3.1% |
| MANH Manhattan Associates Inc. | 2.95% | 361,321 | $74.1M | Reduce -3.8% |
| CSGP Costar Group Inc. | 2.67% | 793,664 | $67.0M | Reduce -0.3% |
| VEEV Veeva Systems Inc. Class A | 2.64% | 222,157 | $66.2M | Reduce -3.5% |
| CGNT Cognyte Software Ltd. | 2.26% | 6,751,962 | $56.7M | Add +0.6% |
| NCNO Ncino Inc. | 2.20% | 2,040,303 | $55.3M | Add +4.3% |
| QLYS Qualys Inc. | 2.18% | 412,947 | $54.6M | Reduce -1.0% |
| TECH Bio-Techne Corp. | 2.13% | 960,447 | $53.4M | Add +0.9% |
| RAMP Liveramp Holdings Inc. | 2.08% | 1,926,376 | $52.3M | Reduce -3.3% |
| SEIC Sei Investments Company | 1.91% | 565,117 | $48.0M | Add +21.9% |
| NICE Nice Ltd. - Spon ADR | 1.81% | 313,431 | $45.4M | Reduce -4.8% |
| RGEN Repligen Corp. | 1.79% | 336,862 | $45.0M | Add +2.3% |
| FDS Factset Research Systems Inc. | 1.77% | 155,304 | $44.5M | Reduce -1.6% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 1.56% | 263,118 | $39.2M | Reduce -4.5% |
| CRNC Cerence Inc. | 1.33% | 2,679,057 | $33.4M | Reduce -4.2% |
| TW Tradeweb Markets Inc. Class A | 1.18% | 266,006 | $29.5M | Reduce -8.2% |
| SPSC SPS Commerce Inc. | 1.18% | 283,475 | $29.5M | Add +21.9% |
| GMED Globus Medical Inc. Class A | 1.14% | 499,059 | $28.6M | Add +3.2% |
| DXCM Dexcom Inc. | 0.96% | 357,790 | $24.1M | Add +0.6% |
| AZTA Azenta Inc. | 0.95% | 829,320 | $23.8M | Add +5.6% |
| MORN Morningstar Inc. | 0.92% | 99,197 | $23.0M | Add +1.8% |
| AAON Aaon Inc. | 0.91% | 244,446 | $22.8M | New |
| NOVT Novanta Inc. | 0.87% | 218,861 | $21.9M | New |
| PAYC Paycom Software Inc. | 0.86% | 103,802 | $21.6M | Reduce -3.9% |
| STAA Staar Surgical Co. | 0.80% | 743,424 | $20.0M | Reduce -5.3% |
| NEO Neogenomics Inc. | 0.72% | 2,345,263 | $18.1M | Add +120.9% |
| GNTX Gentex Corp. | 0.67% | 597,006 | $16.9M | Reduce -24.9% |
| CGNX Cognex Corp. | 0.67% | 369,891 | $16.8M | Reduce -18.1% |
| TREX Trex Company Inc. | 0.58% | 280,737 | $14.5M | Add +6.8% |
| PRLB Proto Labs Inc. | 0.56% | 279,296 | $14.0M | Add +417.0% |
| KRNT Kornit Digital Ltd. | 0.56% | 1,032,018 | $13.9M | Reduce -24.3% |
| TYL Tyler Technologies Inc. | 0.48% | 23,086 | $12.1M | Reduce -7.6% |
| SNPS Synopsys Inc. | 0.42% | 21,191 | $10.5M | New |
| NEOG Neogen Corp. | 0.38% | 1,665,936 | $9.5M | Reduce -50.1% |
| ORLY O'reilly Automotive Inc. | 0.37% | 86,235 | $9.3M | No change |
| IPGP Ipg Photonics Corp. | 0.36% | 114,128 | $9.0M | New |
| MMSI Merit Medical Systems Inc. | 0.29% | 87,079 | $7.2M | Reduce -0.0% |
| MPWR Monolithic Power Systems Inc. | 0.24% | 6,610 | $6.1M | Reduce -5.8% |
| PODD Insulet Corp. | 0.23% | 19,030 | $5.9M | Add +9.9% |
| ALRM Alarm.com Holdings Inc. | 0.19% | 87,663 | $4.7M | Reduce -20.4% |
| ICLR Icon PLC | 0.17% | 24,421 | $4.3M | Reduce -50.4% |
| HAE Haemonetics Corp. | 0.14% | 74,415 | $3.6M | Reduce -26.3% |
| DORM Dorman Products Inc. | 0.13% | 20,358 | $3.2M | No change |
| GHM Graham Corp. | 0.09% | 40,429 | $2.2M | Reduce -0.1% |
| FELE Franklin Electric Co. Inc. | 0.08% | 22,000 | $2.1M | Reduce -12.0% |
| KWR Quaker Chemical Corporation | 0.08% | 15,727 | $2.1M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.07% | 2,535 | $1.7M | No change |
| HOLX Hologic Inc. | 0.06% | 23,780 | $1.6M | No change |
| TRMB Trimble Inc. | 0.06% | 19,000 | $1.6M | Reduce -13.6% |
| VSEC Vse Corp. | 0.05% | 7,958 | $1.3M | Add +78.7% |
| DSGX The Descartes Systems Grp | 0.04% | 11,177 | $1.1M | Reduce -0.3% |
| ZBRA Zebra Technologies Corp. Class A | 0.04% | 3,300 | $981K | No change |
| ACIW Aci Worldwide Inc. | 0.04% | 18,410 | $971K | Add +0.1% |
| BLKB Blackbaud Inc. | 0.04% | 13,759 | $885K | Reduce -74.0% |
| AAPL Apple Inc. | 0.03% | 2,800 | $713K | No change |
| FROG Jfrog Ltd. | 0.02% | 11,445 | $542K | No change |
| ILMN Illumina Inc. | 0.01% | 2,220 | $211K | Reduce -2.4% |
| MDY State Street SPDR S&P Midcap | 0.01% | 353 | $210K | New |
Portfolio Sells Q2 2025 → Q3 2025
| ANSS Ansys Inc. | Sold out | 0.00% | −1.45 |
| FTNT Fortinet Inc. | Reduce -4.8% | 3.23% | −1.21 |
| FDS Factset Research Systems Inc. | Reduce -1.6% | 1.77% | −1.16 |
| RAMP Liveramp Holdings Inc. | Reduce -3.3% | 2.08% | −0.65 |
| TW Tradeweb Markets Inc. Class A | Reduce -8.2% | 1.18% | −0.58 |
| KRNT Kornit Digital Ltd. | Reduce -24.3% | 0.56% | −0.57 |
| NICE Nice Ltd. - Spon ADR | Reduce -4.8% | 1.81% | −0.50 |
| JKHY Jack Henry & Associates Inc. | Reduce -4.5% | 1.56% | −0.50 |
| CYBR Cyberark Software Ltd./Israel | Reduce -16.2% | 6.74% | −0.31 |
| GWRE Guidewire Software Inc. | Reduce -3.1% | 3.04% | −0.30 |
| QLYS Qualys Inc. | Reduce -1.0% | 2.18% | −0.30 |
| NEOG Neogen Corp. | Reduce -50.1% | 0.38% | −0.28 |
| PAYC Paycom Software Inc. | Reduce -3.9% | 0.86% | −0.18 |
| HAE Haemonetics Corp. | Reduce -26.3% | 0.14% | −0.17 |
| TYL Tyler Technologies Inc. | Reduce -7.6% | 0.48% | −0.13 |
| ICLR Icon PLC | Reduce -50.4% | 0.17% | −0.13 |
| MANH Manhattan Associates Inc. | Reduce -3.8% | 2.95% | −0.13 |
| VEEV Veeva Systems Inc. Class A | Reduce -3.5% | 2.64% | −0.11 |
| BLKB Blackbaud Inc. | Reduce -74.0% | 0.04% | −0.11 |
| ALRM Alarm.com Holdings Inc. | Reduce -20.4% | 0.19% | −0.07 |
| GNTX Gentex Corp. | Reduce -24.9% | 0.67% | −0.05 |
| MMSI Merit Medical Systems Inc. | Reduce -0.0% | 0.29% | −0.05 |
| RMD Resmed Inc. | Reduce -2.2% | 3.39% | −0.01 |
| FELE Franklin Electric Co. Inc. | Reduce -12.0% | 0.08% | −0.01 |
| TRMB Trimble Inc. | Reduce -13.6% | 0.06% | −0.01 |
| DSGX The Descartes Systems Grp | Reduce -0.3% | 0.04% | −0.01 |
| ILMN Illumina Inc. | Reduce -2.4% | 0.01% | −0.00 |
| GHM Graham Corp. | Reduce -0.1% | 0.09% | +0.01 |
| CSGP Costar Group Inc. | Reduce -0.3% | 2.67% | +0.01 |
| CVLT Commvault Systems Inc. | Reduce -3.4% | 4.02% | +0.02 |
| MPWR Monolithic Power Systems Inc. | Reduce -5.8% | 0.24% | +0.03 |
| CGNX Cognex Corp. | Reduce -18.1% | 0.67% | +0.07 |
| AVAV Aerovironment Inc. | Reduce -4.8% | 9.05% | +0.09 |
| CRNC Cerence Inc. | Reduce -4.2% | 1.33% | +0.15 |
| STAA Staar Surgical Co. | Reduce -5.3% | 0.80% | +0.25 |
| IDXX Idexx Laboratories Inc. | Reduce -2.5% | 4.69% | +0.49 |
| MEDP Medpace Holdings Inc. | Reduce -6.3% | 5.10% | +1.64 |
| KTOS Kratos Defense & Security | Reduce -12.4% | 7.32% | +2.90 |
Portfolio Buys Q2 2025 → Q3 2025
| AAON Aaon Inc. | New | 0.91% | +0.91 |
| NOVT Novanta Inc. | New | 0.87% | +0.87 |
| VRNS Varonis Systems Inc. | Add +16.3% | 3.14% | +0.66 |
| PRLB Proto Labs Inc. | Add +417.0% | 0.56% | +0.47 |
| SNPS Synopsys Inc. | New | 0.42% | +0.42 |
| NEO Neogenomics Inc. | Add +120.9% | 0.72% | +0.40 |
| IPGP Ipg Photonics Corp. | New | 0.36% | +0.36 |
| SEIC Sei Investments Company | Add +21.9% | 1.91% | +0.18 |
| TECH Bio-Techne Corp. | Add +0.9% | 2.13% | +0.10 |
| RGEN Repligen Corp. | Add +2.3% | 1.79% | +0.10 |
| KWR Quaker Chemical Corporation | New | 0.08% | +0.08 |
| VSEC Vse Corp. | Add +78.7% | 0.05% | +0.03 |
| PODD Insulet Corp. | Add +9.9% | 0.23% | +0.01 |
| MDY State Street SPDR S&P Midcap | New | 0.01% | +0.01 |
| ACIW Aci Worldwide Inc. | Add +0.1% | 0.04% | +0.00 |
| TREX Trex Company Inc. | Add +6.8% | 0.58% | −0.01 |
| RBC RBC Bearings Inc. | Add +1.5% | 3.39% | −0.04 |
| GMED Globus Medical Inc. Class A | Add +3.2% | 1.14% | −0.04 |
| AZTA Azenta Inc. | Add +5.6% | 0.95% | −0.05 |
| NCNO Ncino Inc. | Add +4.3% | 2.20% | −0.07 |
| SPSC SPS Commerce Inc. | Add +21.9% | 1.18% | −0.14 |
| CGNT Cognyte Software Ltd. | Add +0.6% | 2.26% | −0.31 |
| DXCM Dexcom Inc. | Add +0.6% | 0.96% | −0.33 |
| MORN Morningstar Inc. | Add +1.8% | 0.92% | −0.35 |
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 |