Kopion Asset Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 8, 2025), Kopion Asset Management, LLC reported 20 stock positions worth $148.3 million. Its top holding was Trupanion (TRUP) at 8.2% of the portfolio, followed by Borgwarner (BWA, 7.6%) and Technipfmc (FTI, 7.5%). Compared with Q1 2025, it opened 1 new position, sold out of 1, added to 12 and reduced 7. The biggest buy was a new position in Energy Recovery (ERII) and the biggest sale Aci Worldwide (ACIW, shares −18%).
- Most Recent 13F
- Q3 2026
- Location
- MCKINNEY, TX
- CIK
- 0001728689
- Portfolio Value
- $148.3M (Q2 2025)
- SEC Filing
- 0001728689-25-000007 ↗ filed Jul 8, 2025
Holdings Value
Holdings 20 stocks · $148.3M
| TRUP Trupanion Inc. | 8.17% | 219,009 | $12.1M | Reduce -22.1% |
| BWA Borgwarner Inc. | 7.65% | 338,736 | $11.3M | Reduce -7.3% |
| FTI Technipfmc PLC | 7.47% | 321,513 | $11.1M | Add +0.3% |
| VRNS Varonis Systems Inc. | 7.12% | 208,105 | $10.6M | Add +0.1% |
| MGNI Magnite Inc. | 6.88% | 423,178 | $10.2M | Reduce -29.4% |
| PRO Pros Holdings Inc. | 6.80% | 644,440 | $10.1M | Add +62.3% |
| NICE Nice Ltd. - Spon ADR | 6.47% | 56,843 | $9.6M | Add +0.1% |
| SSYS Stratasys Ltd. | 6.37% | 823,236 | $9.4M | Add +0.1% |
| CGNX Cognex Corp. | 6.08% | 284,193 | $9.0M | Add +16.3% |
| SSTI Soundthinking Inc. | 5.16% | 586,652 | $7.7M | Add +8.3% |
| CERT Certara Inc. | 4.65% | 588,890 | $6.9M | Reduce -1.9% |
| TNC Tennant Co. | 4.39% | 84,109 | $6.5M | Add +109.1% |
| COHR Coherent Corp. | 4.30% | 71,413 | $6.4M | Add +8.0% |
| ANSS Ansys Inc. | 4.16% | 17,560 | $6.2M | Reduce -19.6% |
| HXL Hexcel Corp. | 3.95% | 103,776 | $5.9M | Add +17.7% |
| ERII Energy Recovery Inc. | 2.61% | 302,837 | $3.9M | New |
| ACIW Aci Worldwide Inc. | 2.50% | 80,871 | $3.7M | Reduce -18.0% |
| AIOT Powerfleet Inc. | 2.24% | 770,199 | $3.3M | Add +0.1% |
| SLP Simulations Plus Inc. | 1.84% | 156,401 | $2.7M | Add +22.7% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.18% | 19,085 | $1.8M | Reduce -36.3% |
Portfolio Sells Q1 2025 → Q2 2025
| ACIW Aci Worldwide Inc. | Reduce -18.0% | 2.50% | −1.70 |
| ANSS Ansys Inc. | Reduce -19.6% | 4.16% | −1.22 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -36.3% | 1.18% | −0.96 |
| BWA Borgwarner Inc. | Reduce -7.3% | 7.65% | −0.51 |
| TYL Tyler Technologies Inc. | Sold out | 0.00% | −0.47 |
| TRUP Trupanion Inc. | Reduce -22.1% | 8.17% | +0.02 |
| CERT Certara Inc. | Reduce -1.9% | 4.65% | +0.02 |
| MGNI Magnite Inc. | Reduce -29.4% | 6.88% | +1.56 |
Portfolio Buys Q1 2025 → Q2 2025
| ERII Energy Recovery Inc. | New | 2.61% | +2.61 |
| TNC Tennant Co. | Add +109.1% | 4.39% | +1.90 |
| COHR Coherent Corp. | Add +8.0% | 4.30% | +0.95 |
| PRO Pros Holdings Inc. | Add +62.3% | 6.80% | +0.92 |
| VRNS Varonis Systems Inc. | Add +0.1% | 7.12% | +0.57 |
| CGNX Cognex Corp. | Add +16.3% | 6.08% | +0.41 |
| HXL Hexcel Corp. | Add +17.7% | 3.95% | +0.19 |
| SSYS Stratasys Ltd. | Add +0.1% | 6.37% | +0.10 |
| NICE Nice Ltd. - Spon ADR | Add +0.1% | 6.47% | −0.34 |
| FTI Technipfmc PLC | Add +0.3% | 7.47% | −0.44 |
| SLP Simulations Plus Inc. | Add +22.7% | 1.84% | −0.59 |
| AIOT Powerfleet Inc. | Add +0.1% | 2.24% | −1.05 |
| SSTI Soundthinking Inc. | Add +8.3% | 5.16% | −1.98 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q3 2026 | 20 | $156.5M | NICE, CERT, MGNI, VRNS, TRUP |
| Q2 2026 | 21 | $158.2M | VRNS, NICE, TRUP, MGNI, CERT |
| Q1 2026 | 20 | $128.5M | NICE, TNC, VRNS, TRUP, MGNI |
| Q4 2025 | 18 | $139.9M | NICE, FTI, TRUP, VRNS, MGNI |
| Q3 2025 | 19 | $154.3M | PRO, NICE, TRUP, FTI, BWA |
| Q2 2025 | 20 | $148.3M | TRUP, BWA, FTI, VRNS, MGNI |
| Q1 2025 | 20 | $128.5M | TRUP, BWA, FTI, SSTI, NICE |
| Q4 2024 | 20 | $142.4M | TRUP, FTI, BWA, MGNI, PRO |
| Q3 2024 | 19 | $138.9M | BWA, TRUP, FTI, SSYS, VRNS |
| Q2 2024 | 18 | $140.9M | TRUP, FTI, BWA, COHR, MGNI |
| Q1 2024 | 18 | $140.7M | FTI, BWA, TRUP, MIXT, MGNI |