Kerrisdale Advisers, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Kerrisdale Advisers, LLC reported 112 stock positions worth $262.7 million. Its top holding was Visa Class A (V) at 5.8% of the portfolio, followed by MercadoLibre (MELI, 5.7%) and Telephone and Data Systems (TDS, 4.8%). Compared with Q4 2025, it opened 47 new positions, sold out of 11, added to 22 and reduced 17. The biggest buy was a new position in Marvell Technology (MRVL) and the biggest sale Sysco (SYY, shares −60%).

Most Recent 13F
Q2 2026
Location
Miami, FL
CIK
0001569688
Portfolio Value
$262.7M (Q1 2026)
SEC Filing
0001172661-26-002087 ↗ filed May 15, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $318.3M Q1 2024 Q2 2024: $319.5M Q2 2024 Q3 2024: $294.1M Q3 2024 Q4 2024: $296.0M Q4 2024 Q1 2025: $239.0M Q1 2025 Q2 2025: $191.7M Q2 2025 Q3 2025: $192.9M Q3 2025 Q4 2025: $212.3M Q4 2025 Q1 2026: $262.7M $262.7M Q1 2026 Q2 2026: $399.2M Q2 2026

Holdings 112 stocks · $262.7M
V Visa Inc. Class A 5.76% 50,031 $15.1M Add +26.8%
MELI MercadoLibre Inc. 5.74% 8,724 $15.1M Add +1.9%
TDS Telephone and Data Systems 4.77% 297,966 $12.5M Reduce -41.1%
AMZN Amazon.com Inc. 4.66% 58,746 $12.2M Add +42.0%
MRVL Marvell Technology Inc. 4.29% 113,851 $11.3M New
ACMR Acm Research Inc. Class A 3.35% 223,755 $8.8M Reduce -15.1%
SHC Sotera Health Co. 3.32% 607,689 $8.7M Add +9.1%
GOOGL Alphabet Inc. Class A 3.22% 29,387 $8.5M No change
ADTN Adtran Holdings Inc. 2.64% 552,010 $6.9M New
SWKS Skyworks Solutions Inc. 2.59% 126,980 $6.8M New
LGN Legence Corp. Class A 2.28% 105,920 $6.0M Add +72.2%
SYY Sysco Corp. 2.27% 83,476 $6.0M Reduce -60.5%
UHAL.B U-Haul Holding Co.-Non Voting 2.16% 127,232 $5.7M Add +130.3%
LRN Stride Inc. 1.92% 57,155 $5.0M Reduce -4.2%
POOL Pool Corp. 1.86% 24,175 $4.9M New
UNP Union Pacific Corp. 1.85% 20,072 $4.9M Add +22.4%
MSFT Microsoft Corp. 1.74% 12,362 $4.6M Add +2080.3%
SNPS Synopsys Inc. 1.54% 10,231 $4.1M Add +21.7%
DV Doubleverify Holdings Inc. 1.44% 398,439 $3.8M New
ZM Zoom Communications Inc. 1.43% 46,649 $3.8M Add +23.4%
CNQ Canadian Natural Resources 1.36% 73,150 $3.6M New
APPF Appfolio Inc. Class A 1.34% 22,344 $3.5M Add +39.5%
CART Maplebear Inc. 1.34% 94,016 $3.5M Add +28.7%
AMRZ Amrize Ltd. 1.32% 61,720 $3.5M Add +31.2%
KVUE Kenvue Inc. 1.12% 170,807 $2.9M Reduce -50.3%
CVE Cenovus Energy Inc. 1.12% 110,950 $2.9M New
CIB Grupo Cibest SA-ADR 1.10% 39,700 $2.9M Reduce -56.4%
CPNG Coupang Inc. 1.08% 150,290 $2.8M Add +37.8%
INTC Intel Corp. 1.03% 61,285 $2.7M New
IPGP Ipg Photonics Corp. 1.02% 23,440 $2.7M New
DEO Diageo PLC-Sponsored ADR 0.97% 34,233 $2.5M Add +10.0%
ETN Eaton Corp. PLC 0.96% 7,077 $2.5M Add +47.5%
DAVA Endava PLC- Spon ADR 0.95% 567,416 $2.5M No change
UNH Unitedhealth Group Inc. 0.91% 8,849 $2.4M Add +51.8%
PBR Petroleo Brasileiro-Spon ADR 0.88% 111,126 $2.3M No change
ON On Semiconductor 0.88% 37,210 $2.3M No change
RRX Regal Rexnord Corp. 0.87% 12,230 $2.3M New
NOK Nokia Corp.-Spon ADR 0.87% 283,845 $2.3M New
MSGE Madison Square Garden Entert 0.70% 31,069 $1.8M Reduce -27.7%
ICLR Icon PLC 0.66% 15,646 $1.7M New
WAB Wabtec Corp. 0.66% 6,925 $1.7M No change
ADEA Adeia Inc. 0.65% 70,830 $1.7M New
PYPL PayPal Holdings Inc. 0.63% 36,866 $1.7M New
ATKR Atkore Inc. 0.63% 28,074 $1.7M No change
JOE The St Joe Co. 0.57% 23,990 $1.5M No change
GTLB Gitlab Inc. Class A 0.57% 68,980 $1.5M Add +168.6%
UBER Uber Technologies Inc. 0.52% 18,960 $1.4M New
WHD Cactus Inc. Class A 0.50% 27,780 $1.3M New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.50% 26,730 $1.3M New
SNAP Snap Inc. Class A 0.50% 282,954 $1.3M Add +627.4%
RBA RB Global Inc. 0.47% 12,897 $1.2M New
KMB Kimberly-Clark Corp. 0.46% 12,615 $1.2M New
GFF Griffon Corp. 0.46% 16,660 $1.2M Add +133.0%
NDSN Nordson Corp. 0.46% 4,530 $1.2M New
HSIC Henry Schein Inc. filed as SCHEIN HENRY INC 0.45% 16,026 $1.2M No change
CC The Chemours Co. 0.44% 52,401 $1.2M No change
SU Suncor Energy Inc. 0.42% 16,550 $1.1M New
BDC Belden Inc. 0.41% 9,280 $1.1M New
MOS The Mosaic Co. 0.39% 39,940 $1.0M New
EC Ecopetrol SA-Sponsored ADR 0.39% 67,555 $1.0M No change
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 0.39% 13,665 $1.0M No change
BAH Booz Allen Hamilton Holdings 0.37% 12,422 $969K Add +31.4%
NTAP Netapp Inc. 0.37% 9,401 $963K New
DT Dynatrace Inc. 0.34% 23,935 $885K New
PMTS Cpi Card Group Inc. 0.34% 60,796 $882K No change
EQT Eqt Corp. 0.33% 13,630 $867K New
FOXF Fox Factory Holding Corp. 0.32% 51,166 $842K Reduce -38.3%
LNSR Lensar Inc. 0.32% 139,390 $831K New
CCJ Cameco Corp. 0.31% 7,535 $818K Reduce -22.0%
NOVT Novanta Inc. 0.31% 6,820 $806K New
SMCI Super Micro Computer Inc. 0.31% 35,335 $805K New
OBE Obsidian Energy Ltd. 0.30% 84,060 $796K No change
PAYO Payoneer Global Inc. 0.30% 162,825 $786K New
AMTM Amentum Holdings Inc. 0.29% 29,190 $761K New
MTN Vail Resorts Inc. 0.28% 5,820 $747K New
LBTYA Liberty Global Ltd. Class A 0.28% 60,640 $733K New
PSIX Power Solutions Internationa 0.27% 11,665 $710K New
FTRE Fortrea Holdings Inc. 0.26% 72,820 $686K New
NE Noble Corp. PLC 0.25% 13,633 $669K Reduce -90.8%
KFY Korn Ferry 0.25% 10,288 $648K Reduce -1.9%
KHC The Kraft Heinz Co. 0.25% 28,745 $646K New
RICK Rci Hospitality Holdings Inc. 0.24% 27,253 $622K Add +194.5%
SE Sea Ltd.-ADR 0.23% 7,380 $611K New
UHAL U-Haul Holding Co. 0.23% 12,714 $607K No change
CRL Charles River Laboratories 0.20% 3,043 $525K Reduce -33.8%
FRSH Freshworks Inc. Class A 0.19% 62,225 $500K New
PERI Perion Network Ltd. 0.19% 49,373 $493K Reduce -34.7%
OXY Occidental Petroleum Corp. 0.17% 7,050 $458K No change
FLO Flowers Foods Inc. 0.17% 56,065 $457K New
CRON Cronos Group Inc. 0.16% 171,886 $431K No change
FISV Fiserv Inc. 0.16% 7,630 $426K No change
OI O-I Glass Inc. 0.16% 39,855 $419K New
AZTA Azenta Inc. 0.15% 19,130 $404K New
SOLS Solstice Adv Materials Inc. 0.15% 5,170 $394K New
ACVA Acv Auctions Inc. Class A 0.15% 91,075 $386K New
LQDA Liquidia Corp. 0.15% 10,115 $382K Reduce -31.8%
FVRR Fiverr International Ltd. 0.14% 36,415 $365K New
NXE Nexgen Energy Ltd. 0.13% 30,183 $350K Reduce -40.7%
HDSN Hudson Technologies Inc. 0.13% 57,622 $339K No change
AVAL Grupo Aval Acciones Y Valore 0.13% 75,000 $330K No change
DNN Denison Mines Corp. 0.12% 86,800 $306K No change
ROOT Root Inc./Oh Class A 0.11% 6,830 $302K New
ECVT Ecovyst Inc. 0.10% 20,000 $257K New
MU Micron Technology Inc. 0.10% 740 $250K Reduce -89.3%
RCMT RCM Technologies Inc. 0.09% 12,891 $247K No change
RDDT Reddit Inc. Class A 0.09% 1,715 $231K No change
WMG Warner Music Group Corp. Class A 0.08% 8,735 $223K Reduce -86.9%
PRTS Carparts.com Inc. 0.08% 252,495 $198K No change
TENB Tenable Holdings Inc. 0.08% 11,720 $198K No change
SSTK Shutterstock Inc. 0.07% 10,765 $179K No change
BOOM DMC Global Inc. 0.04% 20,492 $107K No change
NKLR Terra Innovatum Global NV 0.02% 13,600 $63K New

Portfolio Sells Q4 2025 → Q1 2026
SYY Sysco Corp. Reduce -60.5% 2.27% −5.07
TDS Telephone and Data Systems Reduce -41.1% 4.77% −5.00
NE Noble Corp. PLC Reduce -90.8% 0.25% −1.71
KVUE Kenvue Inc. Reduce -50.3% 1.12% −1.67
GTM Zoominfo Technologies Inc. Sold out 0.00% −1.67
CIB Grupo Cibest SA-ADR Reduce -56.4% 1.10% −1.63
ACMR Acm Research Inc. Class A Reduce -15.1% 3.35% −1.54
VAL Valaris Ltd. Sold out 0.00% −1.19
RTO Rentokil Initial PLC-SP ADR Sold out 0.00% −0.95
WDC Western Digital Corp. Sold out 0.00% −0.92
WMG Warner Music Group Corp. Class A Reduce -86.9% 0.08% −0.88
MU Micron Technology Inc. Reduce -89.3% 0.10% −0.84
STX Seagate Technology Holdings Sold out 0.00% −0.74
KEYS Keysight Technologies Inc. Sold out 0.00% −0.63
KNX Knight-Swift Transportation Sold out 0.00% −0.56
LBRT Liberty Energy Inc. Sold out 0.00% −0.55
MSGE Madison Square Garden Entert Reduce -27.7% 0.70% −0.39
FOXF Fox Factory Holding Corp. Reduce -38.3% 0.32% −0.35
CRL Charles River Laboratories Reduce -33.8% 0.20% −0.23
PERI Perion Network Ltd. Reduce -34.7% 0.19% −0.15
NMM Navios Maritime Partners LP Sold out 0.00% −0.11
CCJ Cameco Corp. Reduce -22.0% 0.31% −0.10
LQDA Liquidia Corp. Reduce -31.8% 0.15% −0.10
BABA Alibaba Group Holding-SP ADR Sold out 0.00% −0.09
NXE Nexgen Energy Ltd. Reduce -40.7% 0.13% −0.09
KFY Korn Ferry Reduce -1.9% 0.25% −0.08
LESL Leslie's Inc. Sold out 0.00% −0.02
LRN Stride Inc. Reduce -4.2% 1.92% +0.09

Portfolio Buys Q4 2025 → Q1 2026
MRVL Marvell Technology Inc. New 4.29% +4.29
ADTN Adtran Holdings Inc. New 2.64% +2.64
SWKS Skyworks Solutions Inc. New 2.59% +2.59
POOL Pool Corp. New 1.86% +1.86
MSFT Microsoft Corp. Add +2080.3% 1.74% +1.61
DV Doubleverify Holdings Inc. New 1.44% +1.44
CNQ Canadian Natural Resources New 1.36% +1.36
CVE Cenovus Energy Inc. New 1.12% +1.12
LGN Legence Corp. Class A Add +72.2% 2.28% +1.03
INTC Intel Corp. New 1.03% +1.03
IPGP Ipg Photonics Corp. New 1.02% +1.02
UHAL.B U-Haul Holding Co.-Non Voting Add +130.3% 2.16% +0.95
RRX Regal Rexnord Corp. New 0.87% +0.87
NOK Nokia Corp.-Spon ADR New 0.87% +0.87
ICLR Icon PLC New 0.66% +0.66
ADEA Adeia Inc. New 0.65% +0.65
PYPL PayPal Holdings Inc. New 0.63% +0.63
UBER Uber Technologies Inc. New 0.52% +0.52
WHD Cactus Inc. Class A New 0.50% +0.50
BAC Bank of America Corp. New 0.50% +0.50
RBA RB Global Inc. New 0.47% +0.47
KMB Kimberly-Clark Corp. New 0.46% +0.46
NDSN Nordson Corp. New 0.46% +0.46
SU Suncor Energy Inc. New 0.42% +0.42
BDC Belden Inc. New 0.41% +0.41
MOS The Mosaic Co. New 0.39% +0.39
NTAP Netapp Inc. New 0.37% +0.37
SNAP Snap Inc. Class A Add +627.4% 0.50% +0.35
DT Dynatrace Inc. New 0.34% +0.34
EQT Eqt Corp. New 0.33% +0.33
LNSR Lensar Inc. New 0.32% +0.32
NOVT Novanta Inc. New 0.31% +0.31
SMCI Super Micro Computer Inc. New 0.31% +0.31
PAYO Payoneer Global Inc. New 0.30% +0.30
AMTM Amentum Holdings Inc. New 0.29% +0.29
MTN Vail Resorts Inc. New 0.28% +0.28
LBTYA Liberty Global Ltd. Class A New 0.28% +0.28
PSIX Power Solutions Internationa New 0.27% +0.27
FTRE Fortrea Holdings Inc. New 0.26% +0.26
KHC The Kraft Heinz Co. New 0.25% +0.25
ETN Eaton Corp. PLC Add +47.5% 0.96% +0.24
SE Sea Ltd.-ADR New 0.23% +0.23
GFF Griffon Corp. Add +133.0% 0.46% +0.21
FRSH Freshworks Inc. Class A New 0.19% +0.19
FLO Flowers Foods Inc. New 0.17% +0.17
OI O-I Glass Inc. New 0.16% +0.16
AMZN Amazon.com Inc. Add +42.0% 4.66% +0.16
AZTA Azenta Inc. New 0.15% +0.15
SOLS Solstice Adv Materials Inc. New 0.15% +0.15
ACVA Acv Auctions Inc. Class A New 0.15% +0.15

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 114$399.2MRRX, V, BDC, MELI, AMZN
Q1 2026 112$262.7MV, MELI, TDS, AMZN, MRVL
Q4 2025 76$212.3MTDS, MELI, SYY, V, ACMR
Q3 2025 75$192.9MV, SHC, MELI, NE, AMZN
Q2 2025 66$191.7MSTX, UNH, MELI, V, NE
Q1 2025 81$239.0MSTX, V, MELI, DEO, AMZN
Q4 2024 86$296.0MACMR, SYY, V, DEO, GOOGL
Q3 2024 97$294.1MSYY, V, DEO, GOOGL, SHC
Q2 2024 93$319.5MSYY, V, NE, DEO, GOOGL
Q1 2024 87$318.3MV, NE, SYY, DEO, WAB