Nine Ten Capital Management LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Nine Ten Capital Management LLC reported 9 stock positions worth $336.1 million. Its top holding was Magnite (MGNI) at 20.5% of the portfolio, followed by Iradimed (IRMD, 15.5%) and Agilysys (AGYS, 12.4%). Compared with Q1 2025, it sold out of 2, added to 4 and reduced 1. The biggest buy was Magnite (MGNI, shares +5%) and the biggest sale an exit from NV5 Global (NVEE).

Most Recent 13F
Q2 2026
Location
CHICAGO, IL
CIK
0001635236
Portfolio Value
$336.1M (Q2 2025)
SEC Filing
0001420506-25-002047 ↗ filed Aug 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $328.4M Q1 2024 Q2 2024: $259.8M Q2 2024 Q3 2024: $330.9M Q3 2024 Q4 2024: $350.3M Q4 2024 Q1 2025: $267.9M Q1 2025 Q2 2025: $336.1M $336.1M Q2 2025 Q3 2025: $388.0M Q3 2025 Q4 2025: $315.8M Q4 2025 Q1 2026: $314.8M Q1 2026 Q2 2026: $321.3M Q2 2026

Holdings 9 stocks · $336.1M

MGNI Magnite Inc. 20.51% 2,858,583 $68.9M Add +4.5%
IRMD Iradimed Corp. 15.51% 872,003 $52.1M No change
AGYS Agilysys Inc. 12.39% 363,239 $41.6M Add +21.0%
SNEX Stonex Group Inc. 12.04% 443,986 $40.5M Reduce -13.4%
CLBT Cellebrite Di Ltd. 10.10% 2,121,534 $33.9M Add +6.1%
SPNS Sapiens International Corp. 10.00% 1,149,230 $33.6M No change
WINA Winmark Corp. 9.43% 83,900 $31.7M No change
GPGI Gpgi Inc. filed as COMPOSECURE INC 8.78% 2,094,005 $29.5M Add +21.1%
RHLD Resolute Holdings Manag 1.24% 131,196 $4.2M No change

Portfolio Sells Q1 2025 → Q2 2025

NVEE NV5 Global Inc. Sold out 0.00% −2.73
SNEX Stonex Group Inc. Reduce -13.4% 12.04% −2.57
FC Franklin Covey Co. Sold out 0.00% −1.18

Portfolio Buys Q1 2025 → Q2 2025

MGNI Magnite Inc. Add +4.5% 20.51% +8.87
AGYS Agilysys Inc. Add +21.0% 12.39% +4.26
GPGI Gpgi Inc. Add +21.1% 8.78% +1.76
CLBT Cellebrite Di Ltd. Add +6.1% 10.10% −4.40

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 8$321.3MAGYS, MGNI, CLBT, GPGI, WINA
Q1 2026 8$314.8MGPGI, CLBT, SNEX, AGYS, MGNI
Q4 2025 8$315.8MMGNI, GPGI, CLBT, AGYS, IRMD
Q3 2025 9$388.0MMGNI, IRMD, SPNS, CLBT, GPGI
Q2 2025 9$336.1MMGNI, IRMD, AGYS, SNEX, CLBT
Q1 2025 11$267.9MIRMD, SNEX, CLBT, MGNI, SPNS
Q4 2024 11$350.3MCLBT, IRMD, MGNI, SNEX, WINA
Q3 2024 10$330.9MCLBT, IRMD, SNEX, MGNI, SPNS
Q2 2024 10$259.8MCLBT, IRMD, SNEX, AGYS, SPNS
Q1 2024 13$328.4MSNEX, AGYS, MGNI, CLBT, IRMD