Next Century Growth Investors LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Next Century Growth Investors LLC reported 123 stock positions worth $1.4 billion. Its top holding was Astronics (ATRO) at 4.0% of the portfolio, followed by Artivion (AORT, 3.2%) and Xometry Class A (XMTR, 3.2%). Compared with Q2 2025, it opened 34 new positions, sold out of 33, added to 59 and reduced 30. The biggest buy was a new position in Planet Labs PBC (PL) and the biggest sale an exit from Par Technology (PAR).
- Most Recent 13F
- Q2 2026
- Location
- PLYMOUTH, MN
- CIK
- 0001134007
- Portfolio Value
- $1.4B (Q3 2025)
- SEC Filing
- 0001134007-25-000012 ↗ filed Nov 14, 2025
Holdings Value
Holdings 123 stocks · $1.4B
| ATRO Astronics Corp. | 4.04% | 1,214,287 | $55.4M | Reduce -4.2% |
| AORT Artivion Inc. | 3.24% | 1,048,486 | $44.4M | Add +4.2% |
| XMTR Xometry Inc. Class A | 3.21% | 807,524 | $44.0M | Add +4.5% |
| ALHC Alignment Healthcare Inc. | 2.89% | 2,272,745 | $39.7M | Add +4.7% |
| UTI Universal Technical Institut | 2.63% | 1,107,809 | $36.1M | Add +15.5% |
| PAY Paymentus Holdings Inc. Class A | 2.60% | 1,166,838 | $35.7M | Add +3.3% |
| MYRG MYR Group Inc./Delaware | 2.50% | 165,017 | $34.3M | Add +5.1% |
| ATEC Alphatec Holdings Inc. | 2.42% | 2,279,383 | $33.1M | Add +10.6% |
| IRTC Irhythm Holdings Inc. | 2.37% | 189,082 | $32.5M | Reduce -15.9% |
| STRL Sterling Infrastructure Inc. | 2.23% | 90,065 | $30.6M | Reduce -40.3% |
| MIRM Mirum Pharmaceuticals Inc. | 1.93% | 360,934 | $26.5M | Add +89.6% |
| WGS Genedx Holdings Corp. | 1.84% | 234,109 | $25.2M | Add +5.6% |
| NVDA Nvidia Corp. | 1.74% | 127,777 | $23.8M | Add +12.9% |
| PL Planet Labs PBC | 1.68% | 1,777,531 | $23.1M | New |
| MSFT Microsoft Corp. | 1.63% | 43,285 | $22.4M | Add +10.3% |
| OLLI Ollie's Bargain Outlet Holdi | 1.57% | 167,953 | $21.6M | Add +4.5% |
| MTSI Macom Technology Solutions H | 1.50% | 165,413 | $20.6M | Add +4.4% |
| PGY Pagaya Technologies Ltd. Class A | 1.43% | 660,608 | $19.6M | New |
| RBC RBC Bearings Inc. | 1.40% | 49,104 | $19.2M | Reduce -13.1% |
| FTAI Ftai Aviation Ltd. | 1.39% | 114,316 | $19.1M | Add +18.1% |
| LSCC Lattice Semiconductor Corp. | 1.39% | 260,056 | $19.1M | Add +15.2% |
| PI Impinj Inc. | 1.38% | 104,641 | $18.9M | New |
| SITM Sitime Corp. | 1.36% | 61,795 | $18.6M | Add +22.6% |
| AAPL Apple Inc. | 1.33% | 71,578 | $18.2M | Add +16.0% |
| LINC Lincoln Educational Services | 1.30% | 759,901 | $17.9M | Add +5.5% |
| AGX Argan Inc. | 1.30% | 65,964 | $17.8M | Add +5.6% |
| KNSL Kinsale Capital Group Inc. | 1.23% | 39,774 | $16.9M | Reduce -1.4% |
| CRS Carpenter Technology | 1.15% | 64,447 | $15.8M | Add +4.4% |
| AVPT Avepoint Inc. | 1.13% | 1,028,663 | $15.4M | Add +0.9% |
| LMB Limbach Holdings Inc. | 1.10% | 155,401 | $15.1M | Add +0.7% |
| SAIA Saia Inc. | 1.08% | 49,376 | $14.8M | Reduce -7.9% |
| APLD Applied Digital Corp. | 1.02% | 610,193 | $14.0M | New |
| MP MP Materials Corp. | 0.99% | 203,093 | $13.6M | New |
| INOD Innodata Inc. | 0.99% | 176,347 | $13.6M | Add +81.3% |
| PEN Penumbra Inc. | 0.96% | 51,928 | $13.2M | Add +4.4% |
| BROS Dutch Bros Inc. Class A | 0.95% | 247,771 | $13.0M | Add +4.0% |
| FROG Jfrog Ltd. | 0.95% | 273,939 | $13.0M | Add +174.3% |
| CRDO Credo Technology Group Holdi | 0.94% | 88,569 | $12.9M | Add +4.5% |
| CELH Celsius Holdings Inc. | 0.92% | 220,604 | $12.7M | Add +61.2% |
| MAMA Mama's Creations Inc. | 0.84% | 1,094,707 | $11.5M | Add +19.2% |
| AMZN Amazon.com Inc. | 0.82% | 51,423 | $11.3M | Add +0.6% |
| COHR Coherent Corp. | 0.81% | 102,674 | $11.1M | Add +4.5% |
| AAON Aaon Inc. | 0.80% | 117,233 | $11.0M | New |
| AVGO Broadcom Inc. | 0.77% | 31,853 | $10.5M | Add +26.4% |
| WAY Waystar Holding Corp. | 0.77% | 276,819 | $10.5M | Reduce -21.7% |
| ELF Elf Beauty Inc. | 0.74% | 77,004 | $10.2M | Add +4.4% |
| TOL Toll Brothers Inc. | 0.73% | 72,900 | $10.1M | New |
| KRMN Karman Holdings Inc. | 0.72% | 137,135 | $9.9M | New |
| BE Bloom Energy Corp. Class A | 0.70% | 113,542 | $9.6M | New |
| GOOGL Alphabet Inc. Class A | 0.69% | 39,210 | $9.5M | Add +78.7% |
| WULF Terawulf Inc. | 0.64% | 772,158 | $8.8M | New |
| AGYS Agilysys Inc. | 0.64% | 83,321 | $8.8M | Reduce -22.7% |
| PRCH Porch Group Inc. | 0.64% | 521,909 | $8.8M | New |
| CCB Coastal Financial Corp. | 0.61% | 77,493 | $8.4M | New |
| AEHR Aehr Test Systems | 0.61% | 276,346 | $8.3M | New |
| META Meta Platforms Inc. Class A | 0.58% | 10,927 | $8.0M | Add +80.2% |
| ADPT Adaptive Biotechnologies | 0.58% | 531,317 | $7.9M | New |
| AVAV Aerovironment Inc. | 0.57% | 24,840 | $7.8M | New |
| AMSC American Superconductor Corp. | 0.56% | 128,220 | $7.6M | New |
| ZETA Zeta Global Holdings Corp. Class A | 0.54% | 374,047 | $7.4M | New |
| GLBE Global-E Online Ltd. | 0.52% | 198,256 | $7.1M | Add +18.6% |
| NTSK Netskope Inc. Class A | 0.51% | 309,082 | $7.0M | New |
| BA The Boeing Co. | 0.51% | 32,251 | $7.0M | Add +0.6% |
| BLFS Biolife Solutions Inc. | 0.49% | 264,005 | $6.7M | Add +15.4% |
| SARO Standardaero Inc. | 0.49% | 244,591 | $6.7M | Reduce -12.2% |
| LEU Centrus Energy Corp. Class A | 0.48% | 21,425 | $6.6M | New |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 0.47% | 89,446 | $6.5M | Reduce -62.0% |
| WAL Western Alliance Bancorp | 0.47% | 74,509 | $6.5M | Reduce -7.0% |
| BLND Blend Labs Inc. Class A | 0.47% | 1,765,108 | $6.4M | Add +17.9% |
| HWM Howmet Aerospace Inc. | 0.46% | 32,188 | $6.3M | Reduce -2.8% |
| GS Goldman Sachs Group Inc. | 0.45% | 7,763 | $6.2M | Reduce -17.0% |
| TTAN Servicetitan Inc. Class A | 0.45% | 61,166 | $6.2M | Add +4.4% |
| TMDX Transmedics Group Inc. | 0.44% | 54,350 | $6.1M | Reduce -54.6% |
| BWB Bridgewater Bancshares Inc. | 0.44% | 340,347 | $6.0M | Add +18.7% |
| APP AppLovin Corp. Class A | 0.43% | 8,217 | $5.9M | Reduce -1.2% |
| COST Costco Wholesale Corp. | 0.42% | 6,282 | $5.8M | Add +0.6% |
| ADMA Adma Biologics Inc. | 0.42% | 395,556 | $5.8M | New |
| SNOW Snowflake Inc. | 0.42% | 25,509 | $5.8M | Reduce -17.5% |
| SHOP Shopify Inc. Class A | 0.41% | 38,119 | $5.7M | Add +38.9% |
| ORN Orion Group Holdings Inc. | 0.41% | 670,416 | $5.6M | Reduce -28.1% |
| TSLA Tesla Inc. | 0.41% | 12,496 | $5.6M | Add +0.6% |
| PKE Park Aerospace Corp. | 0.40% | 272,546 | $5.5M | New |
| KVYO Klaviyo Inc. Class A | 0.40% | 199,397 | $5.5M | New |
| GLDD Great Lakes Dredge & Dock Co. | 0.39% | 446,821 | $5.4M | Reduce -31.1% |
| ALKT Alkami Technology Inc. | 0.39% | 215,490 | $5.4M | Reduce -51.1% |
| WING Wingstop Inc. | 0.37% | 20,204 | $5.1M | Add +4.5% |
| AIP Arteris Inc. | 0.36% | 495,308 | $5.0M | Add +24.7% |
| VRT Vertiv Holdings Co. Class A | 0.36% | 33,098 | $5.0M | Reduce -20.9% |
| LGN Legence Corp. Class A | 0.35% | 158,049 | $4.9M | New |
| MPTI M-Tron Industries Inc. | 0.35% | 87,050 | $4.8M | Add +26.6% |
| EVLV Evolv Technologies Holdings | 0.35% | 637,772 | $4.8M | New |
| GSHD Goosehead Insurance Inc. Class A | 0.34% | 62,559 | $4.7M | Add +21.5% |
| ASIC Ategrity Specialty Holdings | 0.33% | 228,476 | $4.5M | Reduce -0.7% |
| KMTS Kestra Medical Technologies | 0.32% | 183,013 | $4.3M | New |
| OPRX Optimizerx Corp. | 0.31% | 210,719 | $4.3M | New |
| TWFG TWFG Inc. | 0.29% | 143,340 | $3.9M | Reduce -0.7% |
| BRCB Black Rock Coffee Bar Inc. Class A | 0.27% | 157,077 | $3.7M | New |
| LOAR Loar Holdings Inc. | 0.27% | 46,217 | $3.7M | Reduce -59.6% |
| PWR Quanta Services Inc. | 0.27% | 8,838 | $3.7M | Add +0.6% |
| KNX Knight-Swift Transportation | 0.26% | 89,330 | $3.5M | Reduce -29.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $123K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| MPTI.WS M-Tron Industries Inc. -28 | *W EXP 04/25/202 | 70,349 | $123K | Reduce -0.4% |
Total filed on the 13F, all lines: $1.4B.
Portfolio Sells Q2 2025 → Q3 2025
| PAR Par Technology Corp. | Sold out | 0.00% | −2.24 |
| VCEL Vericel Corp. | Sold out | 0.00% | −2.20 |
| CDNA Caredx Inc. | Sold out | 0.00% | −1.70 |
| EXLS Exlservice Holdings Inc. | Sold out | 0.00% | −1.28 |
| QTWO Q2 Holdings Inc. | Reduce -62.0% | 0.47% | −1.23 |
| ACVA Acv Auctions Inc. Class A | Sold out | 0.00% | −1.21 |
| HQY Healthequity Inc. | Sold out | 0.00% | −1.05 |
| VERX Vertex Inc. Class A | Sold out | 0.00% | −0.90 |
| PRCT Procept Biorobotics Corp. | Sold out | 0.00% | −0.84 |
| SPRY Ars Pharmaceuticals Inc. | Sold out | 0.00% | −0.84 |
| OLO Olo Inc. Class A | Sold out | 0.00% | −0.80 |
| TMDX Transmedics Group Inc. | Reduce -54.6% | 0.44% | −0.80 |
| CYBR Cyberark Software Ltd./Israel | Sold out | 0.00% | −0.78 |
| PCTY Paylocity Holding Corp. | Sold out | 0.00% | −0.70 |
| ALKT Alkami Technology Inc. | Reduce -51.1% | 0.39% | −0.64 |
| PBPB Potbelly Corp. | Sold out | 0.00% | −0.57 |
| CWAN Clearwater Analytics HDS-A | Sold out | 0.00% | −0.55 |
| SEMR Semrush Holdings Inc. Class A | Sold out | 0.00% | −0.54 |
| BY Byline Bancorp Inc. | Sold out | 0.00% | −0.51 |
| VCYT Veracyte Inc. | Sold out | 0.00% | −0.51 |
| LOAR Loar Holdings Inc. | Reduce -59.6% | 0.27% | −0.49 |
| SKWD Skyward Specialty Insurance | Sold out | 0.00% | −0.49 |
| PNFP Pinnacle Financial Partners | Sold out | 0.00% | −0.48 |
| STRL Sterling Infrastructure Inc. | Reduce -40.3% | 2.23% | −0.46 |
| BOW Bowhead Specialty Holdings I | Sold out | 0.00% | −0.44 |
| GDYN Grid Dynamics Holdings Inc. | Sold out | 0.00% | −0.44 |
| NFLX Netflix Inc. | Reduce -67.4% | 0.14% | −0.37 |
| TITN Titan Machinery Inc. | Sold out | 0.00% | −0.37 |
| CVLG Covenant Logistics Group Inc. | Sold out | 0.00% | −0.36 |
| INTA Intapp Inc. | Reduce -55.2% | 0.18% | −0.35 |
| WAY Waystar Holding Corp. | Reduce -21.7% | 0.77% | −0.35 |
| SIBN Si-Bone Inc. | Reduce -90.9% | 0.03% | −0.35 |
| PGR Progressive Corp. | Reduce -79.7% | 0.07% | −0.33 |
| AGYS Agilysys Inc. | Reduce -22.7% | 0.64% | −0.32 |
| BSX Boston Scientific Corp. | Reduce -64.7% | 0.14% | −0.32 |
| IRTC Irhythm Holdings Inc. | Reduce -15.9% | 2.37% | −0.30 |
| CBLL Ceribell Inc. | Sold out | 0.00% | −0.29 |
| RBC RBC Bearings Inc. | Reduce -13.1% | 1.40% | −0.28 |
| KNSL Kinsale Capital Group Inc. | Reduce -1.4% | 1.23% | −0.28 |
| ORN Orion Group Holdings Inc. | Reduce -28.1% | 0.41% | −0.25 |
| GLDD Great Lakes Dredge & Dock Co. | Reduce -31.1% | 0.39% | −0.22 |
| ARM Arm Holdings PLC-ADR | Sold out | 0.00% | −0.21 |
| TYL Tyler Technologies Inc. | Sold out | 0.00% | −0.20 |
| SARO Standardaero Inc. | Reduce -12.2% | 0.49% | −0.19 |
| KRNT Kornit Digital Ltd. | Sold out | 0.00% | −0.18 |
| KNX Knight-Swift Transportation | Reduce -29.4% | 0.26% | −0.18 |
| ISRG Intuitive Surgical Inc. | Sold out | 0.00% | −0.15 |
| WEAV Weave Communications Inc. | Sold out | 0.00% | −0.15 |
| TEAM Atlassian Corp. Class A | Sold out | 0.00% | −0.14 |
| TOST Toast Inc. Class A | Sold out | 0.00% | −0.14 |
Portfolio Buys Q2 2025 → Q3 2025
| PL Planet Labs PBC | New | 1.68% | +1.68 |
| PGY Pagaya Technologies Ltd. Class A | New | 1.43% | +1.43 |
| PI Impinj Inc. | New | 1.38% | +1.38 |
| XMTR Xometry Inc. Class A | Add +4.5% | 3.21% | +1.19 |
| MIRM Mirum Pharmaceuticals Inc. | Add +89.6% | 1.93% | +1.18 |
| APLD Applied Digital Corp. | New | 1.02% | +1.02 |
| MP MP Materials Corp. | New | 0.99% | +0.99 |
| AORT Artivion Inc. | Add +4.2% | 3.24% | +0.82 |
| AAON Aaon Inc. | New | 0.80% | +0.80 |
| TOL Toll Brothers Inc. | New | 0.73% | +0.73 |
| KRMN Karman Holdings Inc. | New | 0.72% | +0.72 |
| BE Bloom Energy Corp. Class A | New | 0.70% | +0.70 |
| ATEC Alphatec Holdings Inc. | Add +10.6% | 2.42% | +0.65 |
| WULF Terawulf Inc. | New | 0.64% | +0.64 |
| PRCH Porch Group Inc. | New | 0.64% | +0.64 |
| CCB Coastal Financial Corp. | New | 0.61% | +0.61 |
| AEHR Aehr Test Systems | New | 0.61% | +0.61 |
| FROG Jfrog Ltd. | Add +174.3% | 0.95% | +0.61 |
| INOD Innodata Inc. | Add +81.3% | 0.99% | +0.61 |
| ADPT Adaptive Biotechnologies | New | 0.58% | +0.58 |
| AVAV Aerovironment Inc. | New | 0.57% | +0.57 |
| AMSC American Superconductor Corp. | New | 0.56% | +0.56 |
| ALHC Alignment Healthcare Inc. | Add +4.7% | 2.89% | +0.54 |
| ZETA Zeta Global Holdings Corp. Class A | New | 0.54% | +0.54 |
| LSCC Lattice Semiconductor Corp. | Add +15.2% | 1.39% | +0.54 |
| FTAI Ftai Aviation Ltd. | Add +18.1% | 1.39% | +0.53 |
| SITM Sitime Corp. | Add +22.6% | 1.36% | +0.53 |
| NTSK Netskope Inc. Class A | New | 0.51% | +0.51 |
| LEU Centrus Energy Corp. Class A | New | 0.48% | +0.48 |
| CELH Celsius Holdings Inc. | Add +61.2% | 0.92% | +0.43 |
| ADMA Adma Biologics Inc. | New | 0.42% | +0.42 |
| PKE Park Aerospace Corp. | New | 0.40% | +0.40 |
| KVYO Klaviyo Inc. Class A | New | 0.40% | +0.40 |
| GOOGL Alphabet Inc. Class A | Add +78.7% | 0.69% | +0.40 |
| NVDA Nvidia Corp. | Add +12.9% | 1.74% | +0.36 |
| LGN Legence Corp. Class A | New | 0.35% | +0.35 |
| EVLV Evolv Technologies Holdings | New | 0.35% | +0.35 |
| AAPL Apple Inc. | Add +16.0% | 1.33% | +0.35 |
| CRDO Credo Technology Group Holdi | Add +4.5% | 0.94% | +0.33 |
| KMTS Kestra Medical Technologies | New | 0.32% | +0.32 |
| OPRX Optimizerx Corp. | New | 0.31% | +0.31 |
| MYRG MYR Group Inc./Delaware | Add +5.1% | 2.50% | +0.30 |
| BRCB Black Rock Coffee Bar Inc. Class A | New | 0.27% | +0.27 |
| WGS Genedx Holdings Corp. | Add +5.6% | 1.84% | +0.26 |
| MAMA Mama's Creations Inc. | Add +19.2% | 0.84% | +0.25 |
| META Meta Platforms Inc. Class A | Add +80.2% | 0.58% | +0.24 |
| AGX Argan Inc. | Add +5.6% | 1.30% | +0.23 |
| ORCL Oracle Corp. | New | 0.23% | +0.23 |
| AVGO Broadcom Inc. | Add +26.4% | 0.77% | +0.23 |
| MDB Mongodb Inc. | New | 0.20% | +0.20 |
Notes & Other Activity Q2 2025 → Q3 2025
| MPTI.WS M-Tron Industries Inc. -28 | *W EXP 04/25/202 | Reduce -0.4% | 70,349 | $123K |
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 |