Next Century Growth Investors LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Next Century Growth Investors LLC reported 122 stock positions worth $1.1 billion. Its top holding was Genedx (WGS) at 3.3% of the portfolio, followed by Paymentus Class A (PAY, 3.2%) and Alignment Healthcare (ALHC, 3.1%). Compared with Q4 2024, it opened 16 new positions, sold out of 24, added to 54 and reduced 52. The biggest buy was Alignment Healthcare (ALHC, shares +85%) and the biggest sale an exit from Agilysys (AGYS).
- Most Recent 13F
- Q2 2026
- Location
- PLYMOUTH, MN
- CIK
- 0001134007
- Portfolio Value
- $1.1B (Q1 2025)
- SEC Filing
- 0001134007-25-000007 ↗ filed May 14, 2025
Holdings Value
Holdings 122 stocks · $1.1B
| WGS Genedx Holdings Corp. | 3.29% | 417,037 | $36.9M | Add +33.7% |
| PAY Paymentus Holdings Inc. Class A | 3.15% | 1,356,980 | $35.4M | Add +5.4% |
| ALHC Alignment Healthcare Inc. | 3.12% | 1,886,505 | $35.1M | Add +85.3% |
| ATRO Astronics Corp. | 2.77% | 1,289,296 | $31.2M | Reduce -16.2% |
| PAR Par Technology Corp. | 2.73% | 500,820 | $30.7M | Reduce -3.4% |
| GDYN Grid Dynamics Holdings Inc. | 2.50% | 1,798,071 | $28.1M | Add +10.8% |
| UTI Universal Technical Institut | 2.40% | 1,049,742 | $27.0M | Add +5.8% |
| VCEL Vericel Corp. | 2.31% | 582,535 | $26.0M | Add +10.8% |
| AORT Artivion Inc. | 2.24% | 1,022,775 | $25.1M | Add +107.6% |
| IRTC Irhythm Holdings Inc. | 1.94% | 208,220 | $21.8M | New |
| KNSL Kinsale Capital Group Inc. | 1.76% | 40,598 | $19.8M | Add +23.1% |
| RBC RBC Bearings Inc. | 1.75% | 61,148 | $19.7M | Reduce -6.8% |
| SAIA Saia Inc. | 1.69% | 54,338 | $19.0M | Reduce -5.9% |
| OLLI Ollie's Bargain Outlet Holdi | 1.68% | 161,951 | $18.8M | Reduce -0.1% |
| ACVA Acv Auctions Inc. Class A | 1.66% | 1,328,308 | $18.7M | Add +0.6% |
| EXLS Exlservice Holdings Inc. | 1.63% | 388,463 | $18.3M | Reduce -6.8% |
| INOD Innodata Inc. | 1.60% | 502,053 | $18.0M | Add +24.5% |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 1.60% | 224,703 | $18.0M | Add +7.7% |
| MYRG MYR Group Inc./Delaware | 1.55% | 154,510 | $17.5M | Add +1.9% |
| ATEC Alphatec Holdings Inc. | 1.51% | 1,678,678 | $17.0M | Add +70.9% |
| XMTR Xometry Inc. Class A | 1.47% | 664,292 | $16.6M | Add +194.1% |
| MTSI Macom Technology Solutions H | 1.34% | 150,404 | $15.1M | Add +4.2% |
| GLBE Global-E Online Ltd. | 1.30% | 410,240 | $14.6M | Add +14.6% |
| VCYT Veracyte Inc. | 1.26% | 476,216 | $14.1M | Reduce -17.6% |
| CWAN Clearwater Analytics HDS-A | 1.26% | 526,761 | $14.1M | Add +113.4% |
| AAPL Apple Inc. | 1.24% | 62,918 | $14.0M | Reduce -15.1% |
| LMB Limbach Holdings Inc. | 1.22% | 184,426 | $13.7M | Add +18.0% |
| CRS Carpenter Technology | 1.20% | 74,209 | $13.4M | Add +20.8% |
| WAY Waystar Holding Corp. | 1.18% | 356,224 | $13.3M | Add +9.1% |
| LSCC Lattice Semiconductor Corp. | 1.06% | 227,482 | $11.9M | Reduce -6.8% |
| ALKT Alkami Technology Inc. | 1.06% | 452,284 | $11.9M | Add +7.3% |
| MSFT Microsoft Corp. | 1.05% | 31,564 | $11.8M | Reduce -23.8% |
| LINC Lincoln Educational Services | 1.04% | 738,923 | $11.7M | Add +11.3% |
| VERX Vertex Inc. Class A | 1.04% | 333,845 | $11.7M | Add +2.1% |
| BROS Dutch Bros Inc. Class A | 1.02% | 185,486 | $11.5M | Reduce -30.6% |
| PEN Penumbra Inc. | 0.99% | 41,579 | $11.1M | New |
| NVDA Nvidia Corp. | 0.98% | 101,700 | $11.0M | Reduce -19.8% |
| FTAI Ftai Aviation Ltd. | 0.96% | 97,500 | $10.8M | Reduce -12.9% |
| WAL Western Alliance Bancorp | 0.96% | 139,874 | $10.7M | Reduce -6.8% |
| GWRE Guidewire Software Inc. | 0.88% | 52,754 | $9.9M | Add +14.8% |
| PNFP Pinnacle Financial Partners | 0.87% | 92,117 | $9.8M | Add +11.4% |
| PYCR Paycor HCM Inc. | 0.87% | 433,661 | $9.7M | Reduce -66.6% |
| AAON Aaon Inc. | 0.86% | 124,390 | $9.7M | Reduce -16.8% |
| AVPT Avepoint Inc. | 0.86% | 666,684 | $9.6M | Add +9.6% |
| AMZN Amazon.com Inc. | 0.84% | 49,699 | $9.5M | Reduce -13.8% |
| STRL Sterling Infrastructure Inc. | 0.82% | 81,387 | $9.2M | Reduce -25.0% |
| MIRM Mirum Pharmaceuticals Inc. | 0.78% | 195,341 | $8.8M | Add +18.9% |
| HQY Healthequity Inc. | 0.77% | 98,268 | $8.7M | Add +30.1% |
| BY Byline Bancorp Inc. | 0.77% | 329,919 | $8.6M | Reduce -0.3% |
| LOAR Loar Holdings Inc. | 0.72% | 115,359 | $8.2M | Reduce -6.8% |
| INTA Intapp Inc. | 0.71% | 136,679 | $8.0M | Reduce -0.4% |
| PCTY Paylocity Holding Corp. | 0.69% | 41,193 | $7.7M | Add +36.2% |
| SARO Standardaero Inc. | 0.67% | 280,661 | $7.5M | Add +1.1% |
| QNST Quinstreet Inc. | 0.66% | 419,002 | $7.5M | Reduce -48.9% |
| SEMR Semrush Holdings Inc. Class A | 0.66% | 796,151 | $7.4M | Add +23.1% |
| PRCT Procept Biorobotics Corp. | 0.66% | 127,073 | $7.4M | Reduce -55.7% |
| BLFS Biolife Solutions Inc. | 0.63% | 309,686 | $7.1M | Reduce -0.3% |
| GOOGL Alphabet Inc. Class A | 0.63% | 45,473 | $7.0M | Reduce -12.4% |
| CWK Cushman & Wakefield UK Holdc | 0.62% | 687,195 | $7.0M | Reduce -45.8% |
| CYBR Cyberark Software Ltd./Israel | 0.62% | 20,703 | $7.0M | Reduce -6.7% |
| AGX Argan Inc. | 0.60% | 51,140 | $6.7M | New |
| META Meta Platforms Inc. Class A | 0.58% | 11,297 | $6.5M | Reduce -15.8% |
| BOW Bowhead Specialty Holdings I | 0.57% | 157,456 | $6.4M | Reduce -0.3% |
| GSHD Goosehead Insurance Inc. Class A | 0.55% | 52,840 | $6.2M | Reduce -0.3% |
| MAMA Mama's Creations Inc. | 0.55% | 942,144 | $6.1M | Reduce -0.4% |
| SKWD Skyward Specialty Insurance | 0.53% | 111,604 | $5.9M | Reduce -0.3% |
| COST Costco Wholesale Corp. | 0.53% | 6,241 | $5.9M | Add +9.3% |
| PBPB Potbelly Corp. | 0.52% | 618,591 | $5.9M | Add +298.3% |
| GLDD Great Lakes Dredge & Dock Co. | 0.51% | 665,282 | $5.8M | Reduce -0.3% |
| KRNT Kornit Digital Ltd. | 0.51% | 302,547 | $5.8M | Reduce -0.3% |
| ISRG Intuitive Surgical Inc. | 0.50% | 11,343 | $5.6M | Add +64.6% |
| KNX Knight-Swift Transportation | 0.49% | 127,559 | $5.5M | Reduce -25.2% |
| PGR Progressive Corp. | 0.49% | 19,434 | $5.5M | Add +76.2% |
| BA The Boeing Co. | 0.49% | 32,038 | $5.5M | Add +0.1% |
| HXL Hexcel Corp. | 0.47% | 96,904 | $5.3M | Reduce -52.3% |
| COHR Coherent Corp. | 0.46% | 79,223 | $5.1M | Reduce -52.8% |
| BLND Blend Labs Inc. Class A | 0.45% | 1,521,648 | $5.1M | Add +1.6% |
| CDNA Caredx Inc. | 0.43% | 274,874 | $4.9M | Add +25.1% |
| GS Goldman Sachs Group Inc. | 0.42% | 8,593 | $4.7M | Add +14.2% |
| SHOP Shopify Inc. Class A | 0.40% | 47,519 | $4.5M | Add +91.7% |
| SNOW Snowflake Inc. | 0.40% | 30,893 | $4.5M | New |
| CVLG Covenant Logistics Group Inc. | 0.39% | 198,384 | $4.4M | New |
| WEAV Weave Communications Inc. | 0.38% | 387,817 | $4.3M | Add +8.1% |
| HWM Howmet Aerospace Inc. | 0.38% | 33,099 | $4.3M | Add +0.1% |
| RXST Rxsight Inc. | 0.37% | 163,359 | $4.1M | Reduce -4.4% |
| BWB Bridgewater Bancshares Inc. | 0.36% | 294,307 | $4.1M | Reduce -0.3% |
| NFLX Netflix Inc. | 0.36% | 4,373 | $4.1M | Add +0.1% |
| CBLL Ceribell Inc. | 0.35% | 204,129 | $3.9M | Reduce -0.3% |
| ORN Orion Group Holdings Inc. | 0.33% | 711,372 | $3.7M | Add +28.8% |
| CRDO Credo Technology Group Holdi | 0.31% | 85,437 | $3.4M | Reduce -25.1% |
| APP AppLovin Corp. Class A | 0.30% | 12,735 | $3.4M | Add +48.5% |
| TWFG TWFG Inc. | 0.30% | 107,736 | $3.3M | Reduce -0.3% |
| V Visa Inc. Class A | 0.29% | 9,433 | $3.3M | Add +0.1% |
| FROG Jfrog Ltd. | 0.29% | 102,462 | $3.3M | New |
| MPTI M-Tron Industries Inc. | 0.28% | 70,606 | $3.1M | Reduce -25.0% |
| NOW ServiceNow Inc. | 0.27% | 3,881 | $3.1M | Reduce -26.1% |
| SITM Sitime Corp. | 0.26% | 19,458 | $3.0M | New |
| AVGO Broadcom Inc. | 0.26% | 17,503 | $2.9M | New |
| AIP Arteris Inc. | 0.25% | 407,721 | $2.8M | Add +46.4% |
| MA Mastercard Inc. Class A | 0.25% | 5,033 | $2.8M | Add +0.1% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $0 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| MPTI.WS M-Tron Industries Inc. -28 | *W EXP 04/25/202 | 70,606 | $0 | New |
Portfolio Sells Q4 2024 → Q1 2025
| AGYS Agilysys Inc. | Sold out | 0.00% | −1.45 |
| PRCT Procept Biorobotics Corp. | Reduce -55.7% | 0.66% | −1.07 |
| FLYW Flywire Corp.-Voting | Sold out | 0.00% | −1.03 |
| FRPT Freshpet Inc. | Sold out | 0.00% | −1.03 |
| NTRA Natera Inc. | Sold out | 0.00% | −1.00 |
| PYCR Paycor HCM Inc. | Reduce -66.6% | 0.87% | −0.94 |
| PEGA Pegasystems Inc. | Sold out | 0.00% | −0.81 |
| QNST Quinstreet Inc. | Reduce -48.9% | 0.66% | −0.75 |
| SMWB Similarweb Ltd. | Sold out | 0.00% | −0.74 |
| COHR Coherent Corp. | Reduce -52.8% | 0.46% | −0.73 |
| CWK Cushman & Wakefield UK Holdc | Reduce -45.8% | 0.62% | −0.62 |
| STRL Sterling Infrastructure Inc. | Reduce -25.0% | 0.82% | −0.55 |
| TNDM Tandem Diabetes Care Inc. | Sold out | 0.00% | −0.54 |
| ONON On Holding AG Class A | Sold out | 0.00% | −0.54 |
| ELF Elf Beauty Inc. | Sold out | 0.00% | −0.51 |
| HXL Hexcel Corp. | Reduce -52.3% | 0.47% | −0.48 |
| CSTL Castle Biosciences Inc. | Sold out | 0.00% | −0.47 |
| VCYT Veracyte Inc. | Reduce -17.6% | 1.26% | −0.46 |
| AAON Aaon Inc. | Reduce -16.8% | 0.86% | −0.45 |
| OS Onestream Inc. | Sold out | 0.00% | −0.44 |
| TSLA Tesla Inc. | Reduce -62.3% | 0.16% | −0.41 |
| WING Wingstop Inc. | Reduce -61.7% | 0.22% | −0.40 |
| MRTN Marten Transport Ltd. | Sold out | 0.00% | −0.37 |
| NEO Neogenomics Inc. | Sold out | 0.00% | −0.36 |
| HROW Harrow Inc. | Sold out | 0.00% | −0.32 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.31 |
| NVDA Nvidia Corp. | Reduce -19.8% | 0.98% | −0.29 |
| SAIA Saia Inc. | Reduce -5.9% | 1.69% | −0.28 |
| CRDO Credo Technology Group Holdi | Reduce -25.1% | 0.31% | −0.27 |
| MSFT Microsoft Corp. | Reduce -23.8% | 1.05% | −0.25 |
| FTAI Ftai Aviation Ltd. | Reduce -12.9% | 0.96% | −0.25 |
| KRUS Kura Sushi USA Inc. Class A | Reduce -38.3% | 0.17% | −0.24 |
| ARCB Arcbest Corp. | Reduce -50.4% | 0.18% | −0.23 |
| ARQ Arq Inc. | Sold out | 0.00% | −0.21 |
| DCBO Docebo Inc. | Sold out | 0.00% | −0.21 |
| KRNT Kornit Digital Ltd. | Reduce -0.3% | 0.51% | −0.19 |
| KNX Knight-Swift Transportation | Reduce -25.2% | 0.49% | −0.18 |
| PWR Quanta Services Inc. | Reduce -47.7% | 0.16% | −0.16 |
| AAPL Apple Inc. | Reduce -15.1% | 1.24% | −0.15 |
| NOW ServiceNow Inc. | Reduce -26.1% | 0.27% | −0.14 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.14 |
| PDFS PDF Solutions Inc. | Sold out | 0.00% | −0.13 |
| TOST Toast Inc. Class A | Sold out | 0.00% | −0.12 |
| GOOGL Alphabet Inc. Class A | Reduce -12.4% | 0.63% | −0.11 |
| AMZN Amazon.com Inc. | Reduce -13.8% | 0.84% | −0.11 |
| PAR Par Technology Corp. | Reduce -3.4% | 2.73% | −0.09 |
| SDHC Smith Douglas Homes Corp. | Sold out | 0.00% | −0.09 |
| SYM Symbotic Inc. | Sold out | 0.00% | −0.08 |
| RXST Rxsight Inc. | Reduce -4.4% | 0.37% | −0.07 |
| CSGP Costar Group Inc. | Sold out | 0.00% | −0.07 |
Portfolio Buys Q4 2024 → Q1 2025
| ALHC Alignment Healthcare Inc. | Add +85.3% | 3.12% | +2.27 |
| IRTC Irhythm Holdings Inc. | New | 1.94% | +1.94 |
| WGS Genedx Holdings Corp. | Add +33.7% | 3.29% | +1.49 |
| AORT Artivion Inc. | Add +107.6% | 2.24% | +1.18 |
| PEN Penumbra Inc. | New | 0.99% | +0.99 |
| ATEC Alphatec Holdings Inc. | Add +70.9% | 1.51% | +0.84 |
| XMTR Xometry Inc. Class A | Add +194.1% | 1.47% | +0.75 |
| CWAN Clearwater Analytics HDS-A | Add +113.4% | 1.26% | +0.75 |
| KNSL Kinsale Capital Group Inc. | Add +23.1% | 1.76% | +0.61 |
| AGX Argan Inc. | New | 0.60% | +0.60 |
| UTI Universal Technical Institut | Add +5.8% | 2.40% | +0.49 |
| CRS Carpenter Technology | Add +20.8% | 1.20% | +0.41 |
| PBPB Potbelly Corp. | Add +298.3% | 0.52% | +0.41 |
| INOD Innodata Inc. | Add +24.5% | 1.60% | +0.41 |
| SNOW Snowflake Inc. | New | 0.40% | +0.40 |
| CVLG Covenant Logistics Group Inc. | New | 0.39% | +0.39 |
| GWRE Guidewire Software Inc. | Add +14.8% | 0.88% | +0.30 |
| FROG Jfrog Ltd. | New | 0.29% | +0.29 |
| PGR Progressive Corp. | Add +76.2% | 0.49% | +0.29 |
| WAY Waystar Holding Corp. | Add +9.1% | 1.18% | +0.29 |
| MIRM Mirum Pharmaceuticals Inc. | Add +18.9% | 0.78% | +0.27 |
| SITM Sitime Corp. | New | 0.26% | +0.26 |
| AVGO Broadcom Inc. | New | 0.26% | +0.26 |
| LINC Lincoln Educational Services | Add +11.3% | 1.04% | +0.26 |
| PCTY Paylocity Holding Corp. | Add +36.2% | 0.69% | +0.23 |
| ISRG Intuitive Surgical Inc. | Add +64.6% | 0.50% | +0.23 |
| HQY Healthequity Inc. | Add +30.1% | 0.77% | +0.23 |
| LMB Limbach Holdings Inc. | Add +18.0% | 1.22% | +0.22 |
| SHOP Shopify Inc. Class A | Add +91.7% | 0.40% | +0.21 |
| OLO Olo Inc. Class A | New | 0.19% | +0.19 |
| DAVA Endava PLC- Spon ADR | New | 0.17% | +0.17 |
| PAL Proficient Auto Logistics Inc. | New | 0.17% | +0.17 |
| CVNA Carvana Co. | New | 0.17% | +0.17 |
| PNFP Pinnacle Financial Partners | Add +11.4% | 0.87% | +0.16 |
| SARO Standardaero Inc. | Add +1.1% | 0.67% | +0.15 |
| VCEL Vericel Corp. | Add +10.8% | 2.31% | +0.15 |
| SPOT Spotify Technology SA | New | 0.15% | +0.15 |
| TEAM Atlassian Corp. Class A | New | 0.14% | +0.14 |
| CRM Salesforce Inc. | New | 0.14% | +0.14 |
| COST Costco Wholesale Corp. | Add +9.3% | 0.53% | +0.13 |
| MRVL Marvell Technology Inc. | New | 0.12% | +0.12 |
| HWM Howmet Aerospace Inc. | Add +0.1% | 0.38% | +0.11 |
| AVPT Avepoint Inc. | Add +9.6% | 0.86% | +0.10 |
| GS Goldman Sachs Group Inc. | Add +14.2% | 0.42% | +0.09 |
| APP AppLovin Corp. Class A | Add +48.5% | 0.30% | +0.09 |
| SEMR Semrush Holdings Inc. Class A | Add +23.1% | 0.66% | +0.09 |
| CDNA Caredx Inc. | Add +25.1% | 0.43% | +0.08 |
| NFLX Netflix Inc. | Add +0.1% | 0.36% | +0.07 |
| V Visa Inc. Class A | Add +0.1% | 0.29% | +0.07 |
| BA The Boeing Co. | Add +0.1% | 0.49% | +0.06 |
Notes & Other Activity Q4 2024 → Q1 2025
| MPTI.WS M-Tron Industries Inc. -28 | *W EXP 04/25/202 | New | 70,606 | $0 |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 113 | $1.9B | XMTR, LGND, ALHC, ATRO, LINC |
| Q1 2026 | 112 | $1.4B | ATRO, LINC, ALHC, AORT, MYRG |
| Q4 2025 | 120 | $1.4B | ATRO, ATEC, XMTR, AORT, ALHC |
| Q3 2025 | 123 | $1.4B | ATRO, AORT, XMTR, ALHC, UTI |
| Q2 2025 | 122 | $1.3B | ATRO, PAY, STRL, IRTC, UTI |
| Q1 2025 | 122 | $1.1B | WGS, PAY, ALHC, ATRO, PAR |
| Q4 2024 | 130 | $1.3B | PAY, PAR, GDYN, VCEL, ACVA |
| Q3 2024 | 127 | $1.2B | ATRO, TNDM, TMDX, VRRM, RXST |
| Q2 2024 | 122 | $1.2B | TMDX, ATRO, VRRM, NSSC, TNDM |
| Q1 2024 | 120 | $1.2B | ATRO, VERX, VRRM, TMDX, LGIH |