Next Century Growth Investors LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Next Century Growth Investors LLC reported 122 stock positions worth $1.3 billion. Its top holding was Astronics (ATRO) at 3.3% of the portfolio, followed by Paymentus Class A (PAY, 2.9%) and Sterling Infrastructure (STRL, 2.7%). Compared with Q1 2025, it opened 12 new positions, sold out of 12, added to 48 and reduced 62. The biggest buy was Sterling Infrastructure (STRL, shares +86%) and the biggest sale Grid Dynamics (GDYN, shares −73%).
- Most Recent 13F
- Q2 2026
- Location
- PLYMOUTH, MN
- CIK
- 0001134007
- Portfolio Value
- $1.3B (Q2 2025)
- SEC Filing
- 0001134007-25-000009 ↗ filed Aug 14, 2025
Holdings Value
Holdings 122 stocks · $1.3B
| ATRO Astronics Corp. | 3.28% | 1,267,874 | $42.4M | Reduce -1.7% |
| PAY Paymentus Holdings Inc. Class A | 2.86% | 1,129,725 | $37.0M | Reduce -16.8% |
| STRL Sterling Infrastructure Inc. | 2.69% | 150,972 | $34.8M | Add +85.5% |
| IRTC Irhythm Holdings Inc. | 2.67% | 224,863 | $34.6M | Add +8.0% |
| UTI Universal Technical Institut | 2.51% | 958,891 | $32.5M | Reduce -8.7% |
| AORT Artivion Inc. | 2.42% | 1,006,042 | $31.3M | Reduce -1.6% |
| ALHC Alignment Healthcare Inc. | 2.35% | 2,171,649 | $30.4M | Add +15.1% |
| PAR Par Technology Corp. | 2.24% | 417,625 | $29.0M | Reduce -16.6% |
| MYRG MYR Group Inc./Delaware | 2.20% | 157,043 | $28.5M | Add +1.6% |
| VCEL Vericel Corp. | 2.20% | 668,649 | $28.5M | Add +14.8% |
| XMTR Xometry Inc. Class A | 2.02% | 772,593 | $26.1M | Add +16.3% |
| ATEC Alphatec Holdings Inc. | 1.77% | 2,060,735 | $22.9M | Add +22.8% |
| MTSI Macom Technology Solutions H | 1.75% | 158,383 | $22.7M | Add +5.3% |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 1.70% | 235,404 | $22.0M | Add +4.8% |
| CDNA Caredx Inc. | 1.70% | 1,125,454 | $22.0M | Add +309.4% |
| RBC RBC Bearings Inc. | 1.68% | 56,514 | $21.7M | Reduce -7.6% |
| LMB Limbach Holdings Inc. | 1.67% | 154,287 | $21.6M | Reduce -16.3% |
| OLLI Ollie's Bargain Outlet Holdi | 1.64% | 160,774 | $21.2M | Reduce -0.7% |
| WGS Genedx Holdings Corp. | 1.58% | 221,610 | $20.5M | Reduce -46.9% |
| AVPT Avepoint Inc. | 1.52% | 1,019,773 | $19.7M | Add +53.0% |
| KNSL Kinsale Capital Group Inc. | 1.51% | 40,356 | $19.5M | Reduce -0.6% |
| MSFT Microsoft Corp. | 1.51% | 39,247 | $19.5M | Add +24.3% |
| NVDA Nvidia Corp. | 1.38% | 113,203 | $17.9M | Add +11.3% |
| CRS Carpenter Technology | 1.32% | 61,712 | $17.1M | Reduce -16.8% |
| LINC Lincoln Educational Services | 1.28% | 719,945 | $16.6M | Reduce -2.6% |
| EXLS Exlservice Holdings Inc. | 1.28% | 377,818 | $16.5M | Reduce -2.7% |
| BROS Dutch Bros Inc. Class A | 1.26% | 238,202 | $16.3M | Add +28.4% |
| TMDX Transmedics Group Inc. | 1.24% | 119,756 | $16.0M | New |
| ACVA Acv Auctions Inc. Class A | 1.21% | 962,921 | $15.6M | Reduce -27.5% |
| SAIA Saia Inc. | 1.14% | 53,622 | $14.7M | Reduce -1.3% |
| WAY Waystar Holding Corp. | 1.12% | 353,623 | $14.5M | Reduce -0.7% |
| AGX Argan Inc. | 1.06% | 62,491 | $13.8M | Add +22.2% |
| HQY Healthequity Inc. | 1.05% | 129,465 | $13.6M | Add +31.8% |
| ALKT Alkami Technology Inc. | 1.03% | 440,921 | $13.3M | Reduce -2.5% |
| PEN Penumbra Inc. | 0.99% | 49,742 | $12.8M | Add +19.6% |
| AAPL Apple Inc. | 0.98% | 61,706 | $12.7M | Reduce -1.9% |
| AGYS Agilysys Inc. | 0.96% | 107,830 | $12.4M | New |
| VERX Vertex Inc. Class A | 0.90% | 331,383 | $11.7M | Reduce -0.7% |
| AMZN Amazon.com Inc. | 0.87% | 51,131 | $11.2M | Add +2.9% |
| FTAI Ftai Aviation Ltd. | 0.86% | 96,794 | $11.1M | Reduce -0.7% |
| LSCC Lattice Semiconductor Corp. | 0.85% | 225,774 | $11.1M | Reduce -0.8% |
| PRCT Procept Biorobotics Corp. | 0.84% | 189,185 | $10.9M | Add +48.9% |
| SPRY Ars Pharmaceuticals Inc. | 0.84% | 622,823 | $10.9M | New |
| SITM Sitime Corp. | 0.83% | 50,385 | $10.7M | Add +158.9% |
| OLO Olo Inc. Class A | 0.80% | 1,159,731 | $10.3M | Add +227.4% |
| CYBR Cyberark Software Ltd./Israel | 0.78% | 24,907 | $10.1M | Add +20.3% |
| LOAR Loar Holdings Inc. | 0.76% | 114,481 | $9.9M | Reduce -0.8% |
| MIRM Mirum Pharmaceuticals Inc. | 0.75% | 190,325 | $9.7M | Reduce -2.6% |
| ELF Elf Beauty Inc. | 0.71% | 73,732 | $9.2M | New |
| PCTY Paylocity Holding Corp. | 0.70% | 49,741 | $9.0M | Add +20.8% |
| SARO Standardaero Inc. | 0.68% | 278,627 | $8.8M | Reduce -0.7% |
| COHR Coherent Corp. | 0.68% | 98,285 | $8.8M | Add +24.1% |
| ORN Orion Group Holdings Inc. | 0.65% | 932,908 | $8.5M | Add +31.1% |
| GLDD Great Lakes Dredge & Dock Co. | 0.61% | 648,290 | $7.9M | Reduce -2.5% |
| CRDO Credo Technology Group Holdi | 0.61% | 84,785 | $7.9M | Reduce -0.8% |
| MAMA Mama's Creations Inc. | 0.59% | 918,394 | $7.6M | Reduce -2.5% |
| PBPB Potbelly Corp. | 0.57% | 603,003 | $7.4M | Reduce -2.5% |
| CWAN Clearwater Analytics HDS-A | 0.55% | 325,680 | $7.1M | Reduce -38.2% |
| SEMR Semrush Holdings Inc. Class A | 0.54% | 775,997 | $7.0M | Reduce -2.5% |
| AVGO Broadcom Inc. | 0.54% | 25,194 | $6.9M | Add +43.9% |
| SNOW Snowflake Inc. | 0.53% | 30,905 | $6.9M | Add +0.0% |
| INTA Intapp Inc. | 0.53% | 133,271 | $6.9M | Reduce -2.5% |
| BA The Boeing Co. | 0.52% | 32,051 | $6.7M | Add +0.0% |
| NFLX Netflix Inc. | 0.52% | 4,997 | $6.7M | Add +14.3% |
| BY Byline Bancorp Inc. | 0.51% | 247,810 | $6.6M | Reduce -24.9% |
| GS Goldman Sachs Group Inc. | 0.51% | 9,350 | $6.6M | Add +8.8% |
| VCYT Veracyte Inc. | 0.51% | 242,774 | $6.6M | Reduce -49.0% |
| WING Wingstop Inc. | 0.50% | 19,326 | $6.5M | Add +73.2% |
| CELH Celsius Holdings Inc. | 0.49% | 136,815 | $6.3M | New |
| SKWD Skyward Specialty Insurance | 0.49% | 108,809 | $6.3M | Reduce -2.5% |
| TTAN Servicetitan Inc. Class A | 0.48% | 58,567 | $6.3M | New |
| WAL Western Alliance Bancorp | 0.48% | 80,125 | $6.2M | Reduce -42.7% |
| PNFP Pinnacle Financial Partners | 0.48% | 56,436 | $6.2M | Reduce -38.7% |
| COST Costco Wholesale Corp. | 0.48% | 6,244 | $6.2M | Add +0.1% |
| HWM Howmet Aerospace Inc. | 0.48% | 33,112 | $6.2M | Add +0.0% |
| BSX Boston Scientific Corp. | 0.45% | 54,495 | $5.9M | Add +210.2% |
| BOW Bowhead Specialty Holdings I | 0.44% | 153,411 | $5.8M | Reduce -2.6% |
| GDYN Grid Dynamics Holdings Inc. | 0.44% | 488,114 | $5.6M | Reduce -72.8% |
| GLBE Global-E Online Ltd. | 0.43% | 167,172 | $5.6M | Reduce -59.3% |
| KNX Knight-Swift Transportation | 0.43% | 126,617 | $5.6M | Reduce -0.7% |
| GSHD Goosehead Insurance Inc. Class A | 0.42% | 51,487 | $5.4M | Reduce -2.6% |
| VRT Vertiv Holdings Co. Class A | 0.42% | 41,859 | $5.4M | Add +35.7% |
| PGR Progressive Corp. | 0.40% | 19,439 | $5.2M | Add +0.0% |
| TWFG TWFG Inc. | 0.39% | 144,398 | $5.1M | Add +34.0% |
| INOD Innodata Inc. | 0.38% | 97,245 | $5.0M | Reduce -80.6% |
| ASIC Ategrity Specialty Holdings | 0.38% | 230,145 | $5.0M | New |
| BLND Blend Labs Inc. Class A | 0.38% | 1,497,059 | $4.9M | Reduce -1.6% |
| BLFS Biolife Solutions Inc. | 0.38% | 228,790 | $4.9M | Reduce -26.1% |
| SIBN Si-Bone Inc. | 0.37% | 256,345 | $4.8M | New |
| TITN Titan Machinery Inc. | 0.37% | 240,052 | $4.8M | New |
| CVLG Covenant Logistics Group Inc. | 0.36% | 193,383 | $4.7M | Reduce -2.5% |
| BWB Bridgewater Bancshares Inc. | 0.35% | 286,741 | $4.6M | Reduce -2.6% |
| META Meta Platforms Inc. Class A | 0.35% | 6,063 | $4.5M | Reduce -46.3% |
| FROG Jfrog Ltd. | 0.34% | 99,876 | $4.4M | Reduce -2.5% |
| NOW ServiceNow Inc. | 0.34% | 4,246 | $4.4M | Add +9.4% |
| TSLA Tesla Inc. | 0.30% | 12,426 | $3.9M | Add +74.0% |
| GOOGL Alphabet Inc. Class A | 0.30% | 21,948 | $3.9M | Reduce -51.7% |
| AIP Arteris Inc. | 0.29% | 397,169 | $3.8M | Reduce -2.6% |
| CBLL Ceribell Inc. | 0.29% | 199,082 | $3.7M | Reduce -2.5% |
| V Visa Inc. Class A | 0.26% | 9,437 | $3.4M | Add +0.0% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $73K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| MPTI.WS M-Tron Industries Inc. -28 | *W EXP 04/25/202 | 70,606 | $73K | No change |
Total filed on the 13F, all lines: $1.3B.
Portfolio Sells Q1 2025 → Q2 2025
| GDYN Grid Dynamics Holdings Inc. | Reduce -72.8% | 0.44% | −2.07 |
| WGS Genedx Holdings Corp. | Reduce -46.9% | 1.58% | −1.70 |
| INOD Innodata Inc. | Reduce -80.6% | 0.38% | −1.22 |
| GLBE Global-E Online Ltd. | Reduce -59.3% | 0.43% | −0.87 |
| PYCR Paycor HCM Inc. | Sold out | 0.00% | −0.87 |
| AAON Aaon Inc. | Sold out | 0.00% | −0.86 |
| VCYT Veracyte Inc. | Reduce -49.0% | 0.51% | −0.75 |
| CWAN Clearwater Analytics HDS-A | Reduce -38.2% | 0.55% | −0.70 |
| GWRE Guidewire Software Inc. | Reduce -78.1% | 0.21% | −0.67 |
| QNST Quinstreet Inc. | Sold out | 0.00% | −0.66 |
| CWK Cushman & Wakefield UK Holdc | Sold out | 0.00% | −0.62 |
| SAIA Saia Inc. | Reduce -1.3% | 1.14% | −0.55 |
| PAR Par Technology Corp. | Reduce -16.6% | 2.24% | −0.49 |
| WAL Western Alliance Bancorp | Reduce -42.7% | 0.48% | −0.47 |
| HXL Hexcel Corp. | Sold out | 0.00% | −0.47 |
| ACVA Acv Auctions Inc. Class A | Reduce -27.5% | 1.21% | −0.46 |
| PNFP Pinnacle Financial Partners | Reduce -38.7% | 0.48% | −0.39 |
| RXST Rxsight Inc. | Sold out | 0.00% | −0.37 |
| EXLS Exlservice Holdings Inc. | Reduce -2.7% | 1.28% | −0.35 |
| ISRG Intuitive Surgical Inc. | Reduce -68.9% | 0.15% | −0.35 |
| KRNT Kornit Digital Ltd. | Reduce -60.4% | 0.18% | −0.33 |
| GOOGL Alphabet Inc. Class A | Reduce -51.7% | 0.30% | −0.33 |
| PAY Paymentus Holdings Inc. Class A | Reduce -16.8% | 2.86% | −0.29 |
| AAPL Apple Inc. | Reduce -1.9% | 0.98% | −0.27 |
| BY Byline Bancorp Inc. | Reduce -24.9% | 0.51% | −0.26 |
| KNSL Kinsale Capital Group Inc. | Reduce -0.6% | 1.51% | −0.25 |
| BLFS Biolife Solutions Inc. | Reduce -26.1% | 0.38% | −0.25 |
| WEAV Weave Communications Inc. | Reduce -40.9% | 0.15% | −0.24 |
| META Meta Platforms Inc. Class A | Reduce -46.3% | 0.35% | −0.23 |
| LSCC Lattice Semiconductor Corp. | Reduce -0.8% | 0.85% | −0.21 |
| ARCB Arcbest Corp. | Sold out | 0.00% | −0.18 |
| INTA Intapp Inc. | Reduce -2.5% | 0.53% | −0.18 |
| DAVA Endava PLC- Spon ADR | Sold out | 0.00% | −0.17 |
| SHOP Shopify Inc. Class A | Reduce -42.3% | 0.24% | −0.16 |
| GSHD Goosehead Insurance Inc. Class A | Reduce -2.6% | 0.42% | −0.14 |
| VERX Vertex Inc. Class A | Reduce -0.7% | 0.90% | −0.13 |
| CDNS Cadence Design SYS Inc. | Sold out | 0.00% | −0.13 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.12 |
| BOW Bowhead Specialty Holdings I | Reduce -2.6% | 0.44% | −0.12 |
| SEMR Semrush Holdings Inc. Class A | Reduce -2.5% | 0.54% | −0.12 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -66.4% | 0.08% | −0.10 |
| FTAI Ftai Aviation Ltd. | Reduce -0.7% | 0.86% | −0.10 |
| APP AppLovin Corp. Class A | Reduce -34.7% | 0.23% | −0.08 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.07 |
| BLND Blend Labs Inc. Class A | Reduce -1.6% | 0.38% | −0.07 |
| RBC RBC Bearings Inc. | Reduce -7.6% | 1.68% | −0.07 |
| WAY Waystar Holding Corp. | Reduce -0.7% | 1.12% | −0.07 |
| CBLL Ceribell Inc. | Reduce -2.5% | 0.29% | −0.06 |
| KNX Knight-Swift Transportation | Reduce -0.7% | 0.43% | −0.06 |
| MPTI M-Tron Industries Inc. | Reduce -2.6% | 0.22% | −0.06 |
Portfolio Buys Q1 2025 → Q2 2025
| STRL Sterling Infrastructure Inc. | Add +85.5% | 2.69% | +1.87 |
| CDNA Caredx Inc. | Add +309.4% | 1.70% | +1.27 |
| TMDX Transmedics Group Inc. | New | 1.24% | +1.24 |
| AGYS Agilysys Inc. | New | 0.96% | +0.96 |
| SPRY Ars Pharmaceuticals Inc. | New | 0.84% | +0.84 |
| IRTC Irhythm Holdings Inc. | Add +8.0% | 2.67% | +0.74 |
| ELF Elf Beauty Inc. | New | 0.71% | +0.71 |
| AVPT Avepoint Inc. | Add +53.0% | 1.52% | +0.67 |
| MYRG MYR Group Inc./Delaware | Add +1.6% | 2.20% | +0.65 |
| OLO Olo Inc. Class A | Add +227.4% | 0.80% | +0.61 |
| SITM Sitime Corp. | Add +158.9% | 0.83% | +0.56 |
| XMTR Xometry Inc. Class A | Add +16.3% | 2.02% | +0.54 |
| CELH Celsius Holdings Inc. | New | 0.49% | +0.49 |
| TTAN Servicetitan Inc. Class A | New | 0.48% | +0.48 |
| AGX Argan Inc. | Add +22.2% | 1.06% | +0.47 |
| MSFT Microsoft Corp. | Add +24.3% | 1.51% | +0.45 |
| MTSI Macom Technology Solutions H | Add +5.3% | 1.75% | +0.41 |
| NVDA Nvidia Corp. | Add +11.3% | 1.38% | +0.40 |
| ASIC Ategrity Specialty Holdings | New | 0.38% | +0.38 |
| SIBN Si-Bone Inc. | New | 0.37% | +0.37 |
| TITN Titan Machinery Inc. | New | 0.37% | +0.37 |
| ORN Orion Group Holdings Inc. | Add +31.1% | 0.65% | +0.32 |
| BSX Boston Scientific Corp. | Add +210.2% | 0.45% | +0.29 |
| WING Wingstop Inc. | Add +73.2% | 0.50% | +0.28 |
| AVGO Broadcom Inc. | Add +43.9% | 0.54% | +0.28 |
| HQY Healthequity Inc. | Add +31.8% | 1.05% | +0.28 |
| ATEC Alphatec Holdings Inc. | Add +22.8% | 1.77% | +0.25 |
| BROS Dutch Bros Inc. Class A | Add +28.4% | 1.26% | +0.24 |
| COHR Coherent Corp. | Add +24.1% | 0.68% | +0.22 |
| VRT Vertiv Holdings Co. Class A | Add +35.7% | 0.42% | +0.22 |
| PRCT Procept Biorobotics Corp. | Add +48.9% | 0.84% | +0.18 |
| CYBR Cyberark Software Ltd./Israel | Add +20.3% | 0.78% | +0.16 |
| NFLX Netflix Inc. | Add +14.3% | 0.52% | +0.15 |
| CAT Caterpillar Inc. | New | 0.15% | +0.15 |
| TSLA Tesla Inc. | Add +74.0% | 0.30% | +0.14 |
| TOST Toast Inc. Class A | New | 0.14% | +0.14 |
| SNOW Snowflake Inc. | Add +0.0% | 0.53% | +0.13 |
| OWLT Owlet Inc. | New | 0.13% | +0.13 |
| QTWO Q2 Holdings Inc. | Add +4.8% | 1.70% | +0.10 |
| PWR Quanta Services Inc. | Add +25.7% | 0.26% | +0.10 |
| HWM Howmet Aerospace Inc. | Add +0.0% | 0.48% | +0.09 |
| TWFG TWFG Inc. | Add +34.0% | 0.39% | +0.09 |
| GS Goldman Sachs Group Inc. | Add +8.8% | 0.51% | +0.09 |
| AXON Axon Enterprise Inc. | Add +19.6% | 0.24% | +0.09 |
| NOW ServiceNow Inc. | Add +9.4% | 0.34% | +0.06 |
| ARM Arm Holdings PLC-ADR | Add +0.1% | 0.21% | +0.05 |
| BA The Boeing Co. | Add +0.0% | 0.52% | +0.03 |
| SPOT Spotify Technology SA | Add +0.1% | 0.18% | +0.03 |
| AMZN Amazon.com Inc. | Add +2.9% | 0.87% | +0.03 |
| TYL Tyler Technologies Inc. | Add +19.2% | 0.20% | +0.01 |
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 |