North Growth Management Ltd.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 22, 2025), North Growth Management Ltd. reported 47 stock positions worth $473.7 million. Its top holding was Jabil (JBL) at 7.1% of the portfolio, followed by Ciena (CIEN, 5.5%) and Motorola Solutions (MSI, 4.7%). Compared with Q4 2024, it opened 1 new position, added to 20 and reduced 5. The biggest buy was a new position in AutoZone (AZO) and the biggest sale Ciena (CIEN, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- VANCOUVER, A1
- CIK
- 0001745796
- Portfolio Value
- $473.7M (Q1 2025)
- SEC Filing
- 0001745796-25-000002 ↗ filed Apr 22, 2025
Holdings Value
Holdings 47 stocks · $473.7M
| JBL Jabil Inc. | 7.06% | 246,000 | $33.5M | Reduce -13.4% |
| CIEN Ciena Corp. | 5.48% | 429,000 | $26.0M | Reduce -6.3% |
| MSI Motorola Solutions Inc. | 4.65% | 50,000 | $22.0M | No change |
| EAT Brinker International Inc. | 4.52% | 144,000 | $21.4M | Reduce -17.2% |
| AMAT Applied Materials Inc. | 4.45% | 145,000 | $21.1M | No change |
| COHR Coherent Corp. | 3.41% | 249,000 | $16.2M | Reduce -8.5% |
| BKNG Booking Holdings Inc. | 3.30% | 3,000 | $15.6M | No change |
| SGI Somnigroup International Inc. | 3.19% | 253,000 | $15.1M | Add +0.4% |
| LITE Lumentum Holdings Inc. | 2.85% | 216,000 | $13.5M | No change |
| HPQ HP Inc. | 2.77% | 473,000 | $13.1M | Add +0.2% |
| QCOM Qualcomm Inc. | 2.76% | 85,000 | $13.1M | No change |
| JCI Johnson Controls Internation | 2.67% | 158,000 | $12.7M | No change |
| ELV Elevance Health Inc. | 2.55% | 28,000 | $12.1M | No change |
| INMD Inmode Ltd. | 2.47% | 659,000 | $11.7M | Add +12.8% |
| ITGR Integer Holdings Corp. | 2.43% | 98,000 | $11.5M | Add +1.0% |
| GPN Global Payments Inc. | 2.40% | 116,000 | $11.4M | Add +10.5% |
| J Jacobs Solutions Inc. | 2.34% | 92,000 | $11.1M | Add +1.1% |
| WBD Warner Bros Discovery Inc. | 2.33% | 1,027,000 | $11.0M | Add +0.3% |
| NVDA Nvidia Corp. | 2.27% | 99,000 | $10.8M | No change |
| EA Electronic Arts Inc. | 2.20% | 72,000 | $10.4M | Add +16.1% |
| TXN Texas Instruments Inc. | 2.19% | 58,000 | $10.4M | Add +1.8% |
| TPR Tapestry Inc. | 2.17% | 146,000 | $10.3M | Reduce -36.5% |
| NVR NVR Inc. | 2.16% | 1,000 | $10.2M | No change |
| CROX Crocs Inc. | 1.92% | 85,000 | $9.1M | No change |
| ULTA Ulta Beauty Inc. | 1.78% | 23,000 | $8.4M | Add +15.0% |
| AAPL Apple Inc. | 1.74% | 37,000 | $8.2M | No change |
| FDX FedEx Corp. | 1.73% | 34,000 | $8.2M | Add +3.0% |
| WTS Watts Water Technologies-A | 1.73% | 40,000 | $8.2M | No change |
| ANF Abercrombie & Fitch Co. Class A | 1.70% | 106,000 | $8.1M | Add +32.5% |
| MSFT Microsoft Corp. | 1.63% | 21,000 | $7.7M | No change |
| TMO Thermo Fisher Scientific Inc. | 1.48% | 14,000 | $7.0M | No change |
| FBIN Fortune Brands Innovations I | 1.46% | 113,000 | $6.9M | No change |
| CRL Charles River Laboratories | 1.24% | 39,000 | $5.9M | No change |
| ARHS Arhaus Inc. | 1.16% | 634,000 | $5.5M | Add +16.5% |
| WST West Pharmaceutical Services | 1.16% | 25,000 | $5.5M | Add +38.9% |
| NKE Nike Inc. Class B | 1.15% | 86,000 | $5.4M | Add +62.3% |
| URI United Rentals Inc. | 1.13% | 9,000 | $5.4M | No change |
| ALGN Align Technology Inc. | 1.09% | 33,000 | $5.2M | Add +3.1% |
| ODFL Old Dominion Freight Line | 1.08% | 31,000 | $5.1M | Add +19.2% |
| BIIB Biogen Inc. | 0.98% | 34,000 | $4.7M | Add +88.9% |
| ATKR Atkore Inc. | 0.91% | 72,000 | $4.3M | Add +94.6% |
| AZO AutoZone Inc. | 0.77% | 1,000 | $3.7M | New |
| MBC Masterbrand Inc. | 0.49% | 177,000 | $2.3M | No change |
| FSLR First Solar Inc. | 0.40% | 15,000 | $1.9M | No change |
| AMTM Amentum Holdings Inc. | 0.35% | 92,000 | $1.7M | Add +1.1% |
| ZYME Zymeworks Inc. | 0.24% | 97,000 | $1.2M | No change |
| LULU Lululemon Athletica Inc. | 0.04% | 1,000 | $204K | No change |
Portfolio Sells Q4 2024 → Q1 2025
Portfolio Buys Q4 2024 → Q1 2025
| AZO AutoZone Inc. | New | 0.77% | +0.77 |
| INMD Inmode Ltd. | Add +12.8% | 2.47% | +0.61 |
| EA Electronic Arts Inc. | Add +16.1% | 2.20% | +0.49 |
| SGI Somnigroup International Inc. | Add +0.4% | 3.19% | +0.49 |
| BIIB Biogen Inc. | Add +88.9% | 0.98% | +0.46 |
| NKE Nike Inc. Class B | Add +62.3% | 1.15% | +0.38 |
| ATKR Atkore Inc. | Add +94.6% | 0.91% | +0.32 |
| WBD Warner Bros Discovery Inc. | Add +0.3% | 2.33% | +0.27 |
| ODFL Old Dominion Freight Line | Add +19.2% | 1.08% | +0.21 |
| ARHS Arhaus Inc. | Add +16.5% | 1.16% | +0.19 |
| GPN Global Payments Inc. | Add +10.5% | 2.40% | +0.18 |
| TXN Texas Instruments Inc. | Add +1.8% | 2.19% | +0.14 |
| ULTA Ulta Beauty Inc. | Add +15.0% | 1.78% | +0.13 |
| WST West Pharmaceutical Services | Add +38.9% | 1.16% | +0.03 |
| J Jacobs Solutions Inc. | Add +1.1% | 2.34% | +0.03 |
| AMTM Amentum Holdings Inc. | Add +1.1% | 0.35% | −0.01 |
| ITGR Integer Holdings Corp. | Add +1.0% | 2.43% | −0.01 |
| FDX FedEx Corp. | Add +3.0% | 1.73% | −0.06 |
| HPQ HP Inc. | Add +0.2% | 2.77% | −0.15 |
| ALGN Align Technology Inc. | Add +3.1% | 1.09% | −0.19 |
| ANF Abercrombie & Fitch Co. Class A | Add +32.5% | 1.70% | −0.57 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 48 | $780.2M | AMAT, JBL, CIEN, LITE, COHR |
| Q1 2026 | 47 | $653.3M | CIEN, JBL, AMAT, LITE, COHR |
| Q4 2025 | 47 | $639.3M | CIEN, JBL, LITE, AMAT, COHR |
| Q3 2025 | 47 | $574.3M | CIEN, JBL, AMAT, LITE, MSI |
| Q2 2025 | 47 | $532.9M | JBL, CIEN, AMAT, EAT, COHR |
| Q1 2025 | 47 | $473.7M | JBL, CIEN, MSI, EAT, AMAT |
| Q4 2024 | 46 | $527.1M | JBL, CIEN, COHR, AMAT, MSI |
| Q3 2024 | 48 | $537.1M | JBL, AMAT, CIEN, MSI, COHR |
| Q2 2024 | 45 | $506.1M | AMAT, JBL, CIEN, COHR, MSI |
| Q1 2024 | 46 | $523.7M | JBL, AMAT, CIEN, COHR, MSI |