In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Circumference Group LLC reported 21 stock positions worth $80.8 million . Its top holding was Resources Connection (RGP) at 8.6% of the portfolio, followed by Teradata (TDC, 8.4% ) and Upwork (UPWK, 7.7% ). Compared with Q4 2024, it sold out of 4, added to 11 and reduced 3. The biggest buy was Teradata (TDC, shares +71% ) and the biggest sale an exit from GoDaddy Class A (GDDY).
Location Little Rock, AR
CIK 0001742372
Portfolio Value $80.8M (Q1 2025) Holdings 21 stocks · $80.8M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 RGP Resources Connection Inc. 1,060,000 $6.9M No change TDC Teradata Corp. 300,000 $6.7M Add +71.4% UPWK Upwork Inc. 475,000 $6.2M Reduce -12.0% EXTR Extreme Networks Inc. 395,000 $5.2M Add +29.5% BASE Couchbase Inc. 321,801 $5.1M Add +3.8% DAVA Endava PLC- Spon ADR 251,500 $4.9M Add +48.8% TWLO Twilio Inc. Class A 50,000 $4.9M No change PATH Uipath Inc. Class A 450,000 $4.6M Add +23.3% INFA Informatica Inc. Class A 260,000 $4.5M Add +52.9% YEXT Yext Inc. 697,800 $4.3M Reduce -13.6% GTM Zoominfo Technologies Inc. 385,000 $3.9M Reduce -11.5% AVDX Avidxchange Holdings Inc. 370,000 $3.1M Add +34.5% FIVN FIVE9 Inc. 115,000 $3.1M No change VMEO Vimeo Inc. 575,000 $3.0M Add +9.5% CXM Sprinklr Inc. Class A 360,000 $3.0M No change KFY Korn Ferry 43,900 $3.0M Add +22.3% ONTF ON24 Inc. 394,196 $2.0M No change TIXT Telus International Cda Inc. 675,000 $1.8M Add +8.0% AMPL Amplitude Inc. Class A 178,000 $1.8M No change IAS Integral Ad Science Holding 210,000 $1.7M Add +10.5% KLTR Kaltura Inc. 435,181 $818K No change
Options reported separately and not counted above: CXM calls ($865K).
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ GDDY GoDaddy Inc. Class A Sold out 0.00% −5.52 ZUO Zuora Inc. Class A Sold out 0.00% −5.23 WIX Wix.com Ltd. Sold out 0.00% −4.00 SCWX Secureworks Corp. Class A Sold out 0.00% −2.42 UPWK Upwork Inc. Reduce -12.0% 7.68% −0.56 GTM Zoominfo Technologies Inc. Reduce -11.5% 4.77% +0.50 YEXT Yext Inc. Reduce -13.6% 5.32% +0.53
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ TDC Teradata Corp. Add +71.4% 8.35% +3.27 BASE Couchbase Inc. Add +3.8% 6.28% +1.77 EXTR Extreme Networks Inc. Add +29.5% 6.47% +1.71 INFA Informatica Inc. Class A Add +52.9% 5.62% +1.51 KFY Korn Ferry Add +22.3% 3.69% +1.43 PATH Uipath Inc. Class A Add +23.3% 5.74% +1.41 AVDX Avidxchange Holdings Inc. Add +34.5% 3.89% +1.23 DAVA Endava PLC- Spon ADR Add +48.8% 6.08% +1.21 VMEO Vimeo Inc. Add +9.5% 3.75% +0.61 IAS Integral Ad Science Holding Add +10.5% 2.10% +0.25 TIXT Telus International Cda Inc. Add +8.0% 2.25% −0.04
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ GDDY GoDaddy Inc. Class A put Sold out 30,000 $5.9Mbefore exit RGP Resources Connection Inc. call Sold out 120,100 $1.0Mbefore exit CXM Sprinklr Inc. Class A call Reduce -60.0% 100,000 $865K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 13 $46.0M EXTR, ICLR, RGP, CNM, TWLO Q1 2026 13 $44.6M EXTR, RGP, CNM, PATH, WIX Q4 2025 20 $89.7M TWLO, UPWK, RGP, PATH, TDC Q3 2025 22 $85.2M UPWK, TWLO, RGP, WIX, EXTR Q2 2025 23 $96.4M TWLO, EXTR, RGP, TDC, INFA Q1 2025 21 $80.8M RGP, TDC, UPWK, EXTR, BASE Q4 2024 25 $107.2M RGP, UPWK, GDDY, ZUO, TDC Q3 2024 26 $95.4M RGP, EXTR, YEXT, TDC, UPWK Q2 2024 25 $93.6M TDC, RGP, EXTR, ZUO, CXM Q1 2024 29 $96.9M RGP, ZUO, TDC, JNPR, CXM