HERALD INVESTMENT MANAGEMENT Ltd

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 9, 2024), HERALD INVESTMENT MANAGEMENT Ltd reported 96 stock positions worth $610.2 million. Its top holding was Super Micro Computer (SMCI) at 11.4% of the portfolio, followed by Fabrinet (FN, 7.4%) and Silicon Motion Technol-ADR (SIMO, 5.1%). Compared with Q1 2024, it opened 1 new position, sold out of 3, added to 12 and reduced 6. The biggest buy was a new position in PDF Solutions (PDFS) and the biggest sale an exit from Akoustis Technologies (AKTSQ).

Most Recent 13F
Q2 2026
Location
LONDON, X0
CIK
0001512022
Portfolio Value
$610.2M (Q2 2024)
SEC Filing
0001512022-24-000007 ↗ filed Aug 9, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $616.8M Q1 2024 Q2 2024: $610.2M $610.2M Q2 2024 Q3 2024: $580.4M Q3 2024 Q4 2024: $610.9M Q4 2024 Q1 2025: $533.0M Q1 2025 Q2 2025: $674.3M Q2 2025 Q3 2025: $750.7M Q3 2025 Q4 2025: $765.5M Q4 2025 Q1 2026: $717.5M Q1 2026 Q2 2026: $737.3M Q2 2026

Holdings 96 stocks · $610.2M
SMCI Super Micro Computer Inc. 11.41% 85,300 $69.6M No change
FN Fabrinet 7.35% 183,550 $44.9M Reduce -1.3%
SIMO Silicon Motion Technol-ADR 5.10% 384,906 $31.1M No change
CLS Celestica Inc. 4.65% 495,700 $28.4M No change
VRNS Varonis Systems Inc. 3.76% 478,500 $22.9M No change
DSGX The Descartes Systems Grp 3.65% 230,000 $22.2M Reduce -4.2%
PEGA Pegasystems Inc. 3.44% 347,500 $21.0M No change
ARLO Arlo Technologies Inc. 2.73% 1,277,000 $16.6M No change
RDWR Radware Ltd. 2.39% 800,000 $14.6M No change
CYBR Cyberark Software Ltd./Israel 2.16% 48,300 $13.2M No change
MSFT Microsoft Corp. 1.90% 26,000 $11.6M Reduce -3.7%
CCOI Cogent Communications Holdin 1.85% 200,600 $11.3M No change
SPSC SPS Commerce Inc. 1.85% 60,000 $11.3M Reduce -7.7%
QLYS Qualys Inc. 1.73% 74,000 $10.6M No change
HLIT Harmonic Inc. 1.51% 785,000 $9.2M Add +4.7%
DRS Leonardo DRS Inc. 1.46% 350,000 $8.9M No change
KLIC Kulicke & Soffa Industries 1.44% 178,100 $8.8M No change
GOOGL Alphabet Inc. Class A 1.40% 46,900 $8.5M No change
AMZN Amazon.com Inc. 1.38% 43,700 $8.4M No change
TSEM Tower Semiconductor Ltd. 1.28% 198,000 $7.8M No change
AVPT Avepoint Inc. 1.20% 700,000 $7.3M No change
FORM Formfactor Inc. 1.17% 118,300 $7.2M No change
FROG Jfrog Ltd. 1.17% 190,000 $7.1M No change
AMD Advanced Micro Devices 1.13% 42,350 $6.9M No change
LGTY Logility Supply Chain Soluti filed as AMER SOFTWARE INC 1.12% 750,000 $6.9M Add +7.1%
VICR Vicor Corp. 1.08% 200,000 $6.6M Add +11.1%
VECO Veeco Instruments Inc. 1.07% 140,000 $6.5M Add +16.7%
NABL N-Able Inc. 1.03% 413,000 $6.3M No change
CEVA Ceva Inc. 1.03% 325,000 $6.3M No change
FC Franklin Covey Co. 1.00% 160,000 $6.1M No change
ANET Arista Networks Inc. 0.98% 17,000 $6.0M No change
HSTM Healthstream Inc. 0.91% 200,000 $5.6M No change
AAPL Apple Inc. 0.86% 25,000 $5.3M No change
RDVT Red Violet Inc. 0.82% 200,000 $5.0M No change
FA First Advantage Corp. 0.79% 300,000 $4.8M No change
MU Micron Technology Inc. 0.78% 36,000 $4.7M No change
QUIK Quicklogic Corp. 0.77% 454,154 $4.7M No change
RBBN Ribbon Communications Inc. 0.76% 1,415,869 $4.6M No change
AVNW Aviat Networks Inc. 0.73% 155,000 $4.4M Add +3.3%
VERX Vertex Inc. Class A 0.71% 120,000 $4.3M No change
ALKT Alkami Technology Inc. 0.70% 150,000 $4.3M No change
AVDX Avidxchange Holdings Inc. 0.69% 350,000 $4.2M No change
LTRX Lantronix Inc. 0.58% 1,000,000 $3.5M Add +17.6%
BAND Bandwidth Inc. Class A 0.58% 210,000 $3.5M No change
IDN Intellicheck Inc. 0.56% 1,000,000 $3.4M No change
BASE Couchbase Inc. 0.54% 180,000 $3.3M Add +9.1%
VLN Valens Semiconductor Ltd. 0.52% 998,963 $3.2M No change
TER Teradyne Inc. 0.50% 20,600 $3.1M No change
VPG Vishay Precision Group 0.50% 100,000 $3.0M No change
YELP Yelp Inc. 0.48% 80,000 $3.0M No change
FIVN FIVE9 Inc. 0.47% 65,000 $2.9M Add +6.6%
LASR Nlight Inc. 0.47% 260,000 $2.8M Add +4.0%
MRAM Everspin Technologies Inc. 0.46% 474,817 $2.8M Add +41.7%
CMRC Commerce.com Inc. filed as BIGCOMMERCE HLDGS INC 0.46% 350,000 $2.8M No change
PDFS PDF Solutions Inc. 0.45% 75,000 $2.7M New
POWI Power Integrations Inc. 0.44% 38,000 $2.7M No change
RMNI Rimini Street Inc. 0.43% 850,000 $2.6M No change
OOMA Ooma Inc. 0.42% 260,000 $2.6M No change
OSPN Onespan Inc. 0.42% 200,000 $2.6M No change
RDCM Radcom Ltd. 0.42% 275,000 $2.6M No change
JAMF Jamf Holding Corp. filed as JAMF HLDG CORP 0.41% 150,000 $2.5M No change
CLMB Climb Global Solutions Inc. 0.40% 40,000 $2.4M Add +3.0%
THRY Thryv Holdings Inc. 0.39% 134,651 $2.4M No change
AIP Arteris Inc. 0.37% 300,000 $2.3M No change
DT Dynatrace Inc. 0.37% 50,000 $2.2M No change
ADTN Adtran Holdings Inc. 0.34% 400,000 $2.1M No change
IMOS Chipmos Technologies Inc.-ADR 0.34% 78,394 $2.0M No change
IAS Integral Ad Science Holding 0.32% 200,000 $1.9M No change
SILC Silicom Ltd. 0.31% 125,000 $1.9M No change
ARW Arrow Electronics Inc. 0.30% 15,200 $1.8M No change
CINT Ci&t Inc./United States-A 0.30% 355,000 $1.8M No change
SPIR Spire Global Inc. 0.29% 165,000 $1.8M Add +10.0%
KD Kyndryl Holdings Inc. 0.29% 67,000 $1.8M No change
SCWX Secureworks Corp. Class A 0.29% 250,000 $1.7M No change
TSM Taiwan Semiconductor-SP ADR 0.27% 9,500 $1.7M No change
GNSS Genasys Inc. 0.26% 750,000 $1.6M No change
INUV Inuvo Inc. 0.26% 6,092,857 $1.6M No change
CDNS Cadence Design SYS Inc. 0.25% 5,000 $1.5M No change
ZM Zoom Communications Inc. filed as ZOOM VIDEO COMMUNICATIONS IN 0.25% 25,910 $1.5M No change
CKP Checkpoint Systems Inc. 0.25% 9,200 $1.5M No change
AKAM Akamai Technologies Inc. 0.22% 15,200 $1.4M No change
FRSH Freshworks Inc. Class A 0.19% 90,000 $1.1M No change
CGNT Cognyte Software Ltd. 0.19% 150,000 $1.1M No change
PATH Uipath Inc. Class A 0.18% 87,000 $1.1M No change
BCOV Brightcove 0.16% 425,000 $999K No change
APPS Digital Turbine Inc. 0.16% 600,000 $990K No change
OSS One Stop Systems Inc. 0.15% 379,059 $898K Reduce -21.7%
AWRE Aware Inc. 0.14% 430,000 $847K No change
TTEC Ttec Holdings Inc. filed as TTEC HLDGS INC 0.13% 140,000 $822K No change
TXN Texas Instruments Inc. 0.13% 4,100 $797K No change
ACCS Access Newswire Inc. filed as ISSUER DIRECT CORP 0.11% 90,000 $699K No change
ELVA Electrovaya Inc. 0.10% 250,000 $640K No change
INTC Intel Corp. 0.10% 19,000 $588K No change
QMCO Quantum Corp. 0.07% 1,000,000 $426K No change
STREAMLINE HEALTH SOLUTIONS 0.06% 835,464 $393K Reduce -10.7%
SEDG Solaredge Technologies Inc. 0.02% 4,400 $111K No change

Portfolio Sells Q1 2024 → Q2 2024
AKTSQ Akoustis Technologies Inc. Sold out 0.00% −0.41
VSAT Viasat Inc. Sold out 0.00% −0.29
EMKR Emcore Corp. Sold out 0.00% −0.11
OSS One Stop Systems Inc. Reduce -21.7% 0.15% −0.11
SPSC SPS Commerce Inc. Reduce -7.7% 1.85% −0.10
STREAMLINE HEALTH SOLUTIONS Reduce -10.7% 0.06% −0.01
MSFT Microsoft Corp. Reduce -3.7% 1.90% +0.06
DSGX The Descartes Systems Grp Reduce -4.2% 3.65% +0.09
FN Fabrinet Reduce -1.3% 7.35% +1.66

Portfolio Buys Q1 2024 → Q2 2024
PDFS PDF Solutions Inc. New 0.45% +0.45
VECO Veeco Instruments Inc. Add +16.7% 1.07% +0.39
LTRX Lantronix Inc. Add +17.6% 0.58% +0.09
MRAM Everspin Technologies Inc. Add +41.7% 0.46% +0.03
SPIR Spire Global Inc. Add +10.0% 0.29% +0.00
VICR Vicor Corp. Add +11.1% 1.08% −0.03
CLMB Climb Global Solutions Inc. Add +3.0% 0.40% −0.03
LASR Nlight Inc. Add +4.0% 0.47% −0.06
HLIT Harmonic Inc. Add +4.7% 1.51% −0.12
FIVN FIVE9 Inc. Add +6.6% 0.47% −0.14
BASE Couchbase Inc. Add +9.1% 0.54% −0.16
LGTY Logility Supply Chain Soluti Add +7.1% 1.12% −0.17
AVNW Aviat Networks Inc. Add +3.3% 0.73% −0.20

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 92$737.3MSIMO, CLS, VICR, TSEM, KLIC
Q1 2026 96$717.5MCLS, FN, SIMO, VICR, PEGA
Q4 2025 97$765.5MCLS, FN, PEGA, SIMO, VICR
Q3 2025 94$750.7MCLS, FN, PEGA, SIMO, SMCI
Q2 2025 94$674.3MCLS, FN, PEGA, SMCI, SIMO
Q1 2025 95$533.0MFN, CLS, SMCI, PEGA, SIMO
Q4 2024 94$610.9MCLS, FN, PEGA, SMCI, DSGX
Q3 2024 94$580.4MFN, SMCI, VRNS, PEGA, CLS
Q2 2024 96$610.2MSMCI, FN, SIMO, CLS, VRNS
Q1 2024 98$616.8MSMCI, FN, SIMO, VRNS, PEGA