Next Century Growth Investors LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Next Century Growth Investors LLC reported 130 stock positions worth $1.3 billion. Its top holding was Paymentus Class A (PAY) at 3.2% of the portfolio, followed by Par Technology (PAR, 2.8%) and Grid Dynamics (GDYN, 2.7%). Compared with Q3 2024, it opened 24 new positions, sold out of 21, added to 62 and reduced 43. The biggest buy was a new position in Paycor HCM (PYCR) and the biggest sale an exit from Transmedics (TMDX).

Most Recent 13F
Q2 2026
Location
PLYMOUTH, MN
CIK
0001134007
Portfolio Value
$1.3B (Q4 2024)
SEC Filing
0001134007-25-000002 ↗ filed Feb 13, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.2B Q1 2024 Q2 2024: $1.2B Q2 2024 Q3 2024: $1.2B Q3 2024 Q4 2024: $1.3B $1.3B Q4 2024 Q1 2025: $1.1B Q1 2025 Q2 2025: $1.3B Q2 2025 Q3 2025: $1.4B Q3 2025 Q4 2025: $1.4B Q4 2025 Q1 2026: $1.4B Q1 2026 Q2 2026: $1.9B Q2 2026

Holdings 130 stocks · $1.3B
PAY Paymentus Holdings Inc. Class A 3.15% 1,287,824 $42.1M Reduce -3.9%
PAR Par Technology Corp. 2.82% 518,554 $37.7M Add +15.7%
GDYN Grid Dynamics Holdings Inc. 2.70% 1,622,226 $36.1M Add +78.1%
VCEL Vericel Corp. 2.16% 525,816 $28.9M Add +0.4%
ACVA Acv Auctions Inc. Class A 2.14% 1,320,228 $28.5M Add +0.4%
SAIA Saia Inc. 1.97% 57,772 $26.3M Add +15.0%
UTI Universal Technical Institut 1.91% 991,752 $25.5M Add +16.5%
ATRO Astronics Corp. 1.84% 1,537,925 $24.5M Reduce -32.8%
PYCR Paycor HCM Inc. 1.81% 1,298,113 $24.1M New
WGS Genedx Holdings Corp. 1.80% 312,014 $24.0M Add +121.1%
PRCT Procept Biorobotics Corp. 1.73% 286,937 $23.1M Add +4.3%
VCYT Veracyte Inc. 1.71% 577,684 $22.9M Add +0.3%
MYRG MYR Group Inc./Delaware 1.69% 151,610 $22.6M Add +513.8%
QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC 1.57% 208,668 $21.0M Reduce -40.9%
RBC RBC Bearings Inc. 1.47% 65,589 $19.6M Add +7.0%
GLBE Global-E Online Ltd. 1.46% 358,075 $19.5M Add +44.5%
AGYS Agilysys Inc. 1.45% 146,445 $19.3M Add +0.3%
QNST Quinstreet Inc. 1.42% 819,630 $18.9M Add +7.8%
MTSI Macom Technology Solutions H 1.41% 144,367 $18.8M Add +0.9%
AAPL Apple Inc. 1.39% 74,141 $18.6M Add +18.8%
EXLS Exlservice Holdings Inc. 1.39% 416,567 $18.5M Add +0.9%
STRL Sterling Infrastructure Inc. 1.37% 108,472 $18.3M Add +45.1%
OLLI Ollie's Bargain Outlet Holdi 1.33% 162,136 $17.8M Add +27.6%
AAON Aaon Inc. 1.32% 149,467 $17.6M Add +26.6%
MSFT Microsoft Corp. 1.31% 41,404 $17.5M Add +3.9%
VERX Vertex Inc. Class A 1.31% 326,997 $17.4M Reduce -35.1%
NVDA Nvidia Corp. 1.28% 126,756 $17.0M Reduce -3.2%
CWK Cushman & Wakefield UK Holdc 1.24% 1,267,607 $16.6M New
FTAI Ftai Aviation Ltd. 1.21% 112,009 $16.1M Reduce -35.6%
INOD Innodata Inc. 1.19% 403,289 $15.9M Reduce -54.9%
COHR Coherent Corp. 1.19% 167,867 $15.9M Add +0.5%
ALKT Alkami Technology Inc. 1.16% 421,623 $15.5M Reduce -0.4%
KNSL Kinsale Capital Group Inc. 1.15% 32,974 $15.3M Reduce -35.4%
AORT Artivion Inc. 1.06% 492,653 $14.1M Add +29.7%
BROS Dutch Bros Inc. Class A 1.05% 267,309 $14.0M Add +61.3%
LSCC Lattice Semiconductor Corp. 1.04% 244,017 $13.8M Add +37.5%
FLYW Flywire Corp.-Voting 1.03% 664,779 $13.7M Reduce -44.9%
FRPT Freshpet Inc. 1.03% 92,435 $13.7M Add +0.9%
LMB Limbach Holdings Inc. 1.00% 156,350 $13.4M New
NTRA Natera Inc. 1.00% 84,362 $13.4M Reduce -39.4%
HXL Hexcel Corp. 0.95% 203,096 $12.7M Reduce -26.9%
AMZN Amazon.com Inc. 0.95% 57,658 $12.6M Add +14.5%
WAL Western Alliance Bancorp 0.94% 150,029 $12.5M Add +116.9%
WAY Waystar Holding Corp. 0.90% 326,592 $12.0M Add +202.6%
ALHC Alignment Healthcare Inc. 0.86% 1,018,045 $11.5M New
PEGA Pegasystems Inc. 0.81% 116,439 $10.9M New
LINC Lincoln Educational Services 0.79% 664,148 $10.5M Add +17.9%
CRS Carpenter Technology 0.78% 61,458 $10.4M New
AVPT Avepoint Inc. 0.75% 608,340 $10.0M New
SMWB Similarweb Ltd. 0.74% 699,128 $9.9M Add +146.8%
GOOGL Alphabet Inc. Class A 0.74% 51,939 $9.8M Reduce -0.7%
XMTR Xometry Inc. Class A 0.72% 225,899 $9.6M New
BY Byline Bancorp Inc. 0.72% 330,983 $9.6M New
PNFP Pinnacle Financial Partners 0.71% 82,712 $9.5M New
KRNT Kornit Digital Ltd. 0.70% 303,497 $9.4M Add +86.5%
LOAR Loar Holdings Inc. 0.69% 123,825 $9.2M Add +0.9%
KNX Knight-Swift Transportation 0.68% 170,466 $9.0M Add +37.5%
ATEC Alphatec Holdings Inc. 0.68% 982,093 $9.0M Add +2.4%
INTA Intapp Inc. 0.66% 137,177 $8.8M Reduce -0.1%
WING Wingstop Inc. 0.62% 29,131 $8.3M New
BLFS Biolife Solutions Inc. 0.60% 310,658 $8.1M Add +66.7%
META Meta Platforms Inc. Class A 0.59% 13,424 $7.9M Add +0.1%
GWRE Guidewire Software Inc. 0.58% 45,944 $7.7M Reduce -29.6%
SEMR Semrush Holdings Inc. Class A 0.58% 646,706 $7.7M Reduce -0.1%
CRDO Credo Technology Group Holdi 0.57% 114,066 $7.7M Add +0.9%
TSLA Tesla Inc. 0.57% 18,931 $7.6M Add +175.0%
GLDD Great Lakes Dredge & Dock Co. 0.56% 667,465 $7.5M Reduce -0.1%
MAMA Mama's Creations Inc. 0.56% 945,509 $7.5M Reduce -0.1%
CYBR Cyberark Software Ltd./Israel 0.55% 22,194 $7.4M Add +0.9%
TNDM Tandem Diabetes Care Inc. 0.54% 201,839 $7.3M Reduce -79.5%
HQY Healthequity Inc. 0.54% 75,521 $7.2M Reduce -35.3%
ONON On Holding AG Class A filed as ON HLDG AG 0.54% 132,169 $7.2M Reduce -7.5%
SARO Standardaero Inc. 0.51% 277,482 $6.9M New
CWAN Clearwater Analytics HDS-A 0.51% 246,841 $6.8M Add +0.9%
MIRM Mirum Pharmaceuticals Inc. 0.51% 164,252 $6.8M Reduce -0.1%
ELF Elf Beauty Inc. 0.51% 53,920 $6.8M Add +39.0%
BLND Blend Labs Inc. Class A 0.47% 1,497,871 $6.3M Add +0.5%
CSTL Castle Biosciences Inc. 0.47% 235,214 $6.3M Add +0.5%
PCTY Paylocity Holding Corp. 0.45% 30,239 $6.0M New
RXST Rxsight Inc. 0.44% 170,899 $5.9M Reduce -70.3%
OS Onestream Inc. 0.44% 205,933 $5.9M Add +82.1%
WEAV Weave Communications Inc. 0.43% 358,931 $5.7M New
GSHD Goosehead Insurance Inc. Class A 0.43% 53,016 $5.7M Reduce -0.1%
BA The Boeing Co. 0.42% 32,015 $5.7M Add +16.1%
SKWD Skyward Specialty Insurance 0.42% 111,974 $5.7M Add +8.5%
BOW Bowhead Specialty Holdings I 0.42% 157,977 $5.6M Reduce -30.9%
NOW ServiceNow Inc. 0.42% 5,254 $5.6M Add +0.1%
ARCB Arcbest Corp. 0.41% 59,189 $5.5M Reduce -0.1%
KRUS Kura Sushi USA Inc. Class A 0.41% 60,485 $5.5M New
CBLL Ceribell Inc. 0.40% 204,760 $5.3M New
COST Costco Wholesale Corp. 0.39% 5,710 $5.2M Add +0.1%
MRTN Marten Transport Ltd. 0.37% 315,760 $4.9M Reduce -38.6%
NEO Neogenomics Inc. 0.36% 293,392 $4.8M Reduce -0.1%
CDNA Caredx Inc. 0.35% 219,747 $4.7M New
MPTI M-Tron Industries Inc. 0.34% 94,155 $4.6M New
GS Goldman Sachs Group Inc. 0.32% 7,528 $4.3M Reduce -19.6%
PWR Quanta Services Inc. 0.32% 13,371 $4.2M Add +0.0%
HROW Harrow Inc. 0.32% 125,520 $4.2M Reduce -25.0%
AMD Advanced Micro Devices 0.31% 34,312 $4.1M Add +0.0%
ORN Orion Group Holdings Inc. 0.30% 552,364 $4.0M Reduce -8.2%
BWB Bridgewater Bancshares Inc. 0.30% 295,288 $4.0M New
NFLX Netflix Inc. 0.29% 4,370 $3.9M Add +0.1%
HWM Howmet Aerospace Inc. 0.27% 33,075 $3.6M Add +96.4%
ISRG Intuitive Surgical Inc. 0.27% 6,890 $3.6M Add +72.4%
TWFG TWFG Inc. 0.25% 108,114 $3.3M Reduce -0.1%
VRT Vertiv Holdings Co. Class A 0.25% 29,176 $3.3M Add +0.0%
V Visa Inc. Class A 0.22% 9,425 $3.0M Add +0.0%
AIP Arteris Inc. 0.21% 278,578 $2.8M Reduce -0.1%
ARQ Arq Inc. 0.21% 374,726 $2.8M Reduce -0.1%
DCBO Docebo Inc. 0.21% 62,745 $2.8M Reduce -0.1%
APP AppLovin Corp. Class A 0.21% 8,573 $2.8M New
MA Mastercard Inc. Class A 0.20% 5,029 $2.6M Add +0.0%
PGR Progressive Corp. 0.20% 11,032 $2.6M Reduce -12.9%
SHOP Shopify Inc. Class A 0.20% 24,783 $2.6M Add +47.7%
ARM Arm Holdings PLC-ADR 0.16% 16,903 $2.1M Add +0.1%
TYL Tyler Technologies Inc. 0.15% 3,433 $2.0M New
CRWD CrowdStrike Holdings Inc. Class A 0.15% 5,770 $2.0M Add +0.1%
BSX Boston Scientific Corp. 0.14% 20,422 $1.8M Reduce -52.8%
PANW Palo Alto Networks Inc. 0.14% 10,000 $1.8M No change
PDFS PDF Solutions Inc. 0.13% 65,685 $1.8M Reduce -0.1%
CMG Chipotle Mexican Grill Inc. 0.13% 28,539 $1.7M Add +0.1%
CDNS Cadence Design SYS Inc. 0.13% 5,654 $1.7M Add +0.1%
TOST Toast Inc. Class A 0.12% 45,470 $1.7M New
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.12% 14,033 $1.6M New
PBPB Potbelly Corp. 0.11% 155,316 $1.5M Reduce -8.2%
AXON Axon Enterprise Inc. 0.10% 2,215 $1.3M New
SDHC Smith Douglas Homes Corp. 0.09% 44,383 $1.1M Reduce -85.3%
SYM Symbotic Inc. 0.08% 45,582 $1.1M Reduce -70.2%
CSGP Costar Group Inc. 0.07% 13,506 $967K Reduce -48.0%
SIBN Si-Bone Inc. 0.00% 1,295 $18K Reduce -99.8%

Portfolio Sells Q3 2024 → Q4 2024
TMDX Transmedics Group Inc. Sold out 0.00% −3.35
VRRM Verra Mobility Corp. Sold out 0.00% −3.31
TNDM Tandem Diabetes Care Inc. Reduce -79.5% 0.54% −2.83
RXST Rxsight Inc. Reduce -70.3% 0.44% −1.87
ATRO Astronics Corp. Reduce -32.8% 1.84% −1.77
USAP Universal Stainless & Alloy Sold out 0.00% −1.74
AVAV Aerovironment Inc. Sold out 0.00% −1.02
SIBN Si-Bone Inc. Reduce -99.8% 0.00% −1.00
NSSC Napco Security Technologies Sold out 0.00% −0.99
SDHC Smith Douglas Homes Corp. Reduce -85.3% 0.09% −0.84
KNSL Kinsale Capital Group Inc. Reduce -35.4% 1.15% −0.77
QTWO Q2 Holdings Inc. Reduce -40.9% 1.57% −0.71
FTAI Ftai Aviation Ltd. Reduce -35.6% 1.21% −0.66
FLYW Flywire Corp.-Voting Reduce -44.9% 1.03% −0.57
TCMD Tactile Systems Technology I Sold out 0.00% −0.54
APPF Appfolio Inc. Class A Sold out 0.00% −0.50
SPSC SPS Commerce Inc. Sold out 0.00% −0.49
LLY Eli Lilly & Co. Sold out 0.00% −0.45
HXL Hexcel Corp. Reduce -26.9% 0.95% −0.44
ODFL Old Dominion Freight Line Sold out 0.00% −0.43
NTRA Natera Inc. Reduce -39.4% 1.00% −0.43
KIDS Orthopediatrics Corp. Sold out 0.00% −0.42
MNDY Monday.com Ltd. Sold out 0.00% −0.40
GWRE Guidewire Software Inc. Reduce -29.6% 0.58% −0.39
MRTN Marten Transport Ltd. Reduce -38.6% 0.37% −0.37
CAVA Cava Group Inc. Sold out 0.00% −0.34
HROW Harrow Inc. Reduce -25.0% 0.32% −0.29
VERX Vertex Inc. Class A Reduce -35.1% 1.31% −0.27
VRTX Vertex Pharmaceuticals Inc. Sold out 0.00% −0.25
SEMR Semrush Holdings Inc. Class A Reduce -0.1% 0.58% −0.25
LNTH Lantheus Holdings Inc. Sold out 0.00% −0.24
HQY Healthequity Inc. Reduce -35.3% 0.54% −0.23
MPWR Monolithic Power Systems Inc. Sold out 0.00% −0.23
SYM Symbotic Inc. Reduce -70.2% 0.08% −0.22
UNH Unitedhealth Group Inc. Sold out 0.00% −0.21
ADBE Adobe Inc. Sold out 0.00% −0.21
DHI D.R. Horton Inc. Sold out 0.00% −0.19
BSX Boston Scientific Corp. Reduce -52.8% 0.14% −0.16
DXCM Dexcom Inc. Sold out 0.00% −0.11
WDAY Workday Inc. Class A Sold out 0.00% −0.11
ARCB Arcbest Corp. Reduce -0.1% 0.41% −0.11
BOW Bowhead Specialty Holdings I Reduce -30.9% 0.42% −0.10
CSGP Costar Group Inc. Reduce -48.0% 0.07% −0.09
PGR Progressive Corp. Reduce -12.9% 0.20% −0.06
GS Goldman Sachs Group Inc. Reduce -19.6% 0.32% −0.05
ONON On Holding AG Class A Reduce -7.5% 0.54% −0.04
PDFS PDF Solutions Inc. Reduce -0.1% 0.13% −0.04
INOD Innodata Inc. Reduce -54.9% 1.19% −0.02
DCBO Docebo Inc. Reduce -0.1% 0.21% −0.01
NVDA Nvidia Corp. Reduce -3.2% 1.28% −0.01

Portfolio Buys Q3 2024 → Q4 2024
PYCR Paycor HCM Inc. New 1.81% +1.81
GDYN Grid Dynamics Holdings Inc. Add +78.1% 2.70% +1.67
MYRG MYR Group Inc./Delaware Add +513.8% 1.69% +1.49
WGS Genedx Holdings Corp. Add +121.1% 1.80% +1.31
CWK Cushman & Wakefield UK Holdc New 1.24% +1.24
LMB Limbach Holdings Inc. New 1.00% +1.00
PAR Par Technology Corp. Add +15.7% 2.82% +0.93
ALHC Alignment Healthcare Inc. New 0.86% +0.86
PEGA Pegasystems Inc. New 0.81% +0.81
UTI Universal Technical Institut Add +16.5% 1.91% +0.79
CRS Carpenter Technology New 0.78% +0.78
AVPT Avepoint Inc. New 0.75% +0.75
XMTR Xometry Inc. Class A New 0.72% +0.72
BY Byline Bancorp Inc. New 0.72% +0.72
PNFP Pinnacle Financial Partners New 0.71% +0.71
GLBE Global-E Online Ltd. Add +44.5% 1.46% +0.69
WAY Waystar Holding Corp. Add +202.6% 0.90% +0.65
WING Wingstop Inc. New 0.62% +0.62
BROS Dutch Bros Inc. Class A Add +61.3% 1.05% +0.62
SMWB Similarweb Ltd. Add +146.8% 0.74% +0.54
SARO Standardaero Inc. New 0.51% +0.51
STRL Sterling Infrastructure Inc. Add +45.1% 1.37% +0.49
WAL Western Alliance Bancorp Add +116.9% 0.94% +0.45
PCTY Paylocity Holding Corp. New 0.45% +0.45
WEAV Weave Communications Inc. New 0.43% +0.43
TSLA Tesla Inc. Add +175.0% 0.57% +0.43
KRUS Kura Sushi USA Inc. Class A New 0.41% +0.41
CBLL Ceribell Inc. New 0.40% +0.40
VCEL Vericel Corp. Add +0.4% 2.16% +0.37
KRNT Kornit Digital Ltd. Add +86.5% 0.70% +0.36
CDNA Caredx Inc. New 0.35% +0.35
MPTI M-Tron Industries Inc. New 0.34% +0.34
OLLI Ollie's Bargain Outlet Holdi Add +27.6% 1.33% +0.33
BWB Bridgewater Bancshares Inc. New 0.30% +0.30
CRDO Credo Technology Group Holdi Add +0.9% 0.57% +0.29
AAON Aaon Inc. Add +26.6% 1.32% +0.29
LSCC Lattice Semiconductor Corp. Add +37.5% 1.04% +0.27
ATEC Alphatec Holdings Inc. Add +2.4% 0.68% +0.24
LINC Lincoln Educational Services Add +17.9% 0.79% +0.24
QNST Quinstreet Inc. Add +7.8% 1.42% +0.24
AORT Artivion Inc. Add +29.7% 1.06% +0.24
BLFS Biolife Solutions Inc. Add +66.7% 0.60% +0.23
AAPL Apple Inc. Add +18.8% 1.39% +0.21
APP AppLovin Corp. Class A New 0.21% +0.21
SAIA Saia Inc. Add +15.0% 1.97% +0.19
AMZN Amazon.com Inc. Add +14.5% 0.95% +0.19
ELF Elf Beauty Inc. Add +39.0% 0.51% +0.16
AGYS Agilysys Inc. Add +0.3% 1.45% +0.16
TYL Tyler Technologies Inc. New 0.15% +0.15
KNX Knight-Swift Transportation Add +37.5% 0.68% +0.14

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 113$1.9BXMTR, LGND, ALHC, ATRO, LINC
Q1 2026 112$1.4BATRO, LINC, ALHC, AORT, MYRG
Q4 2025 120$1.4BATRO, ATEC, XMTR, AORT, ALHC
Q3 2025 123$1.4BATRO, AORT, XMTR, ALHC, UTI
Q2 2025 122$1.3BATRO, PAY, STRL, IRTC, UTI
Q1 2025 122$1.1BWGS, PAY, ALHC, ATRO, PAR
Q4 2024 130$1.3BPAY, PAR, GDYN, VCEL, ACVA
Q3 2024 127$1.2BATRO, TNDM, TMDX, VRRM, RXST
Q2 2024 122$1.2BTMDX, ATRO, VRRM, NSSC, TNDM
Q1 2024 120$1.2BATRO, VERX, VRRM, TMDX, LGIH