North Growth Management Ltd.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), North Growth Management Ltd. reported 47 stock positions worth $532.9 million. Its top holding was Jabil (JBL) at 8.5% of the portfolio, followed by Ciena (CIEN, 6.2%) and Applied Materials (AMAT, 5.0%). Compared with Q1 2025, it opened 1 new position, sold out of 1, added to 8 and reduced 6. The biggest buy was a new position in Iqvia (IQV) and the biggest sale an exit from Charles River Laboratories (CRL).
- Most Recent 13F
- Q2 2026
- Location
- VANCOUVER, A1
- CIK
- 0001745796
- Portfolio Value
- $532.9M (Q2 2025)
- SEC Filing
- 0001745796-25-000006 ↗ filed Aug 13, 2025
Holdings Value
Holdings 47 stocks · $532.9M
| JBL Jabil Inc. | 8.54% | 209,000 | $45.5M | Reduce -15.0% |
| CIEN Ciena Corp. | 6.21% | 407,000 | $33.1M | Reduce -5.1% |
| AMAT Applied Materials Inc. | 4.99% | 145,000 | $26.6M | No change |
| EAT Brinker International Inc. | 4.33% | 128,000 | $23.1M | Reduce -11.1% |
| COHR Coherent Corp. | 4.17% | 249,000 | $22.2M | No change |
| LITE Lumentum Holdings Inc. | 3.86% | 216,000 | $20.6M | No change |
| MSI Motorola Solutions Inc. | 3.79% | 48,000 | $20.2M | Reduce -4.0% |
| BKNG Booking Holdings Inc. | 3.68% | 3,000 | $19.6M | No change |
| SGI Somnigroup International Inc. | 3.23% | 253,000 | $17.2M | No change |
| JCI Johnson Controls Internation | 3.14% | 158,000 | $16.7M | No change |
| NVDA Nvidia Corp. | 2.95% | 99,000 | $15.7M | No change |
| QCOM Qualcomm Inc. | 2.55% | 85,000 | $13.6M | No change |
| TPR Tapestry Inc. | 2.40% | 146,000 | $12.8M | No change |
| J Jacobs Solutions Inc. | 2.26% | 92,000 | $12.1M | No change |
| ITGR Integer Holdings Corp. | 2.25% | 98,000 | $12.0M | No change |
| TXN Texas Instruments Inc. | 2.25% | 58,000 | $12.0M | No change |
| HPQ HP Inc. | 2.17% | 473,000 | $11.6M | No change |
| EA Electronic Arts Inc. | 2.17% | 72,000 | $11.5M | No change |
| ULTA Ulta Beauty Inc. | 2.02% | 23,000 | $10.8M | No change |
| GPN Global Payments Inc. | 2.02% | 134,000 | $10.8M | Add +15.5% |
| NVR NVR Inc. | 1.96% | 1,000 | $10.4M | No change |
| MSFT Microsoft Corp. | 1.92% | 21,000 | $10.2M | No change |
| ANF Abercrombie & Fitch Co. Class A | 1.86% | 119,000 | $9.9M | Add +12.3% |
| WTS Watts Water Technologies-A | 1.85% | 40,000 | $9.9M | No change |
| INMD Inmode Ltd. | 1.78% | 659,000 | $9.5M | No change |
| CROX Crocs Inc. | 1.62% | 85,000 | $8.7M | No change |
| ELV Elevance Health Inc. | 1.62% | 22,000 | $8.6M | Reduce -21.4% |
| FDX FedEx Corp. | 1.43% | 34,000 | $7.6M | No change |
| AAPL Apple Inc. | 1.43% | 37,000 | $7.6M | No change |
| URI United Rentals Inc. | 1.21% | 9,000 | $6.5M | No change |
| WBD Warner Bros Discovery Inc. | 1.19% | 556,000 | $6.4M | Reduce -45.9% |
| WST West Pharmaceutical Services | 1.19% | 29,000 | $6.4M | Add +16.0% |
| TMO Thermo Fisher Scientific Inc. | 1.16% | 15,000 | $6.2M | Add +7.1% |
| ALGN Align Technology Inc. | 1.16% | 33,000 | $6.2M | No change |
| NKE Nike Inc. Class B | 1.14% | 86,000 | $6.1M | No change |
| ARHS Arhaus Inc. | 1.14% | 699,000 | $6.1M | Add +10.3% |
| FBIN Fortune Brands Innovations I | 1.09% | 113,000 | $5.8M | No change |
| ATKR Atkore Inc. | 1.07% | 81,000 | $5.7M | Add +12.5% |
| IQV Iqvia Holdings Inc. | 0.98% | 33,000 | $5.2M | New |
| ODFL Old Dominion Freight Line | 0.94% | 31,000 | $5.0M | No change |
| AZO AutoZone Inc. | 0.86% | 1,000 | $4.6M | No change |
| BIIB Biogen Inc. | 0.80% | 34,000 | $4.3M | No change |
| FSLR First Solar Inc. | 0.46% | 15,000 | $2.5M | No change |
| MBC Masterbrand Inc. | 0.44% | 216,000 | $2.4M | Add +22.0% |
| AMTM Amentum Holdings Inc. | 0.43% | 97,000 | $2.3M | Add +5.4% |
| ZYME Zymeworks Inc. | 0.23% | 97,000 | $1.2M | No change |
| LULU Lululemon Athletica Inc. | 0.04% | 1,000 | $214K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| CRL Charles River Laboratories | Sold out | 0.00% | −1.24 |
| WBD Warner Bros Discovery Inc. | Reduce -45.9% | 1.19% | −1.13 |
| ELV Elevance Health Inc. | Reduce -21.4% | 1.62% | −0.93 |
| MSI Motorola Solutions Inc. | Reduce -4.0% | 3.79% | −0.86 |
| EAT Brinker International Inc. | Reduce -11.1% | 4.33% | −0.19 |
| CIEN Ciena Corp. | Reduce -5.1% | 6.21% | +0.73 |
| JBL Jabil Inc. | Reduce -15.0% | 8.54% | +1.48 |
Portfolio Buys Q1 2025 → Q2 2025
| IQV Iqvia Holdings Inc. | New | 0.98% | +0.98 |
| ATKR Atkore Inc. | Add +12.5% | 1.07% | +0.16 |
| ANF Abercrombie & Fitch Co. Class A | Add +12.3% | 1.86% | +0.15 |
| AMTM Amentum Holdings Inc. | Add +5.4% | 0.43% | +0.08 |
| WST West Pharmaceutical Services | Add +16.0% | 1.19% | +0.03 |
| ARHS Arhaus Inc. | Add +10.3% | 1.14% | −0.03 |
| MBC Masterbrand Inc. | Add +22.0% | 0.44% | −0.05 |
| TMO Thermo Fisher Scientific Inc. | Add +7.1% | 1.16% | −0.32 |
| GPN Global Payments Inc. | Add +15.5% | 2.02% | −0.38 |
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 |