North Growth Management Ltd.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 22, 2025), North Growth Management Ltd. reported 47 stock positions worth $574.3 million. Its top holding was Ciena (CIEN) at 8.2% of the portfolio, followed by Jabil (JBL, 7.6%) and Applied Materials (AMAT, 5.1%). Compared with Q2 2025, it added to 8 and reduced 23. The biggest buy was AutoZone (AZO, shares +100%) and the biggest sale Brinker International (EAT, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- VANCOUVER, A1
- CIK
- 0001745796
- Portfolio Value
- $574.3M (Q3 2025)
- SEC Filing
- 0001745796-25-000007 ↗ filed Oct 22, 2025
Holdings Value
Holdings 47 stocks · $574.3M
| CIEN Ciena Corp. | 8.24% | 325,000 | $47.3M | Reduce -20.1% |
| JBL Jabil Inc. | 7.63% | 202,000 | $43.8M | Reduce -3.4% |
| AMAT Applied Materials Inc. | 5.15% | 144,000 | $29.6M | Reduce -0.7% |
| LITE Lumentum Holdings Inc. | 4.32% | 152,000 | $24.8M | Reduce -29.6% |
| MSI Motorola Solutions Inc. | 3.80% | 48,000 | $21.8M | No change |
| COHR Coherent Corp. | 3.75% | 200,000 | $21.5M | Reduce -19.7% |
| BKNG Booking Holdings Inc. | 3.17% | 3,000 | $18.2M | No change |
| SGI Somnigroup International Inc. | 3.09% | 210,000 | $17.7M | Reduce -17.0% |
| JCI Johnson Controls Internation | 2.90% | 152,000 | $16.7M | Reduce -3.8% |
| TPR Tapestry Inc. | 2.85% | 145,000 | $16.4M | Reduce -0.7% |
| EAT Brinker International Inc. | 2.80% | 127,000 | $16.1M | Reduce -0.8% |
| NVDA Nvidia Corp. | 2.66% | 82,000 | $15.3M | Reduce -17.2% |
| EA Electronic Arts Inc. | 2.52% | 72,000 | $14.5M | No change |
| HPQ HP Inc. | 2.23% | 470,000 | $12.8M | Reduce -0.6% |
| J Jacobs Solutions Inc. | 2.21% | 85,000 | $12.7M | Reduce -7.6% |
| ULTA Ulta Beauty Inc. | 2.18% | 23,000 | $12.5M | No change |
| QCOM Qualcomm Inc. | 2.07% | 72,000 | $11.9M | Reduce -15.3% |
| NVR NVR Inc. | 1.96% | 1,000 | $11.3M | No change |
| WTS Watts Water Technologies-A | 1.94% | 40,000 | $11.1M | No change |
| GPN Global Payments Inc. | 1.93% | 134,000 | $11.1M | No change |
| ITGR Integer Holdings Corp. | 1.84% | 103,000 | $10.6M | Add +5.1% |
| TXN Texas Instruments Inc. | 1.83% | 57,000 | $10.5M | Reduce -1.7% |
| URI United Rentals Inc. | 1.77% | 11,000 | $10.2M | Add +22.2% |
| ANF Abercrombie & Fitch Co. Class A | 1.77% | 119,000 | $10.1M | No change |
| TMO Thermo Fisher Scientific Inc. | 1.74% | 21,000 | $10.0M | Add +40.0% |
| AZO AutoZone Inc. | 1.72% | 2,000 | $9.9M | Add +100.0% |
| INMD Inmode Ltd. | 1.70% | 654,000 | $9.8M | Reduce -0.8% |
| WBD Warner Bros Discovery Inc. | 1.70% | 499,000 | $9.7M | Reduce -10.3% |
| MSFT Microsoft Corp. | 1.69% | 19,000 | $9.7M | Reduce -9.5% |
| WST West Pharmaceutical Services | 1.55% | 34,000 | $8.9M | Add +17.2% |
| AAPL Apple Inc. | 1.50% | 34,000 | $8.6M | Reduce -8.1% |
| IQV Iqvia Holdings Inc. | 1.45% | 44,000 | $8.3M | Add +33.3% |
| ARHS Arhaus Inc. | 1.28% | 694,000 | $7.4M | Reduce -0.7% |
| ELV Elevance Health Inc. | 1.24% | 22,000 | $7.1M | No change |
| CROX Crocs Inc. | 1.23% | 85,000 | $7.1M | No change |
| FDX FedEx Corp. | 1.17% | 28,000 | $6.7M | Reduce -17.6% |
| FBIN Fortune Brands Innovations I | 1.05% | 113,000 | $6.0M | No change |
| NKE Nike Inc. Class B | 1.03% | 85,000 | $5.9M | Reduce -1.2% |
| ATKR Atkore Inc. | 1.01% | 93,000 | $5.8M | Add +14.8% |
| ALGN Align Technology Inc. | 0.98% | 45,000 | $5.6M | Add +36.4% |
| BIIB Biogen Inc. | 0.82% | 34,000 | $4.7M | No change |
| ODFL Old Dominion Freight Line | 0.75% | 31,000 | $4.3M | No change |
| FSLR First Solar Inc. | 0.57% | 15,000 | $3.3M | No change |
| MBC Masterbrand Inc. | 0.49% | 215,000 | $2.8M | Reduce -0.5% |
| AMTM Amentum Holdings Inc. | 0.40% | 97,000 | $2.3M | No change |
| ZYME Zymeworks Inc. | 0.25% | 82,000 | $1.4M | Reduce -15.5% |
| LULU Lululemon Athletica Inc. | 0.04% | 1,000 | $232K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| EAT Brinker International Inc. | Reduce -0.8% | 2.80% | −1.53 |
| JBL Jabil Inc. | Reduce -3.4% | 7.63% | −0.91 |
| QCOM Qualcomm Inc. | Reduce -15.3% | 2.07% | −0.47 |
| COHR Coherent Corp. | Reduce -19.7% | 3.75% | −0.42 |
| TXN Texas Instruments Inc. | Reduce -1.7% | 1.83% | −0.41 |
| NVDA Nvidia Corp. | Reduce -17.2% | 2.66% | −0.29 |
| FDX FedEx Corp. | Reduce -17.6% | 1.17% | −0.27 |
| MSFT Microsoft Corp. | Reduce -9.5% | 1.69% | −0.23 |
| JCI Johnson Controls Internation | Reduce -3.8% | 2.90% | −0.23 |
| SGI Somnigroup International Inc. | Reduce -17.0% | 3.09% | −0.14 |
| NKE Nike Inc. Class B | Reduce -1.2% | 1.03% | −0.11 |
| INMD Inmode Ltd. | Reduce -0.8% | 1.70% | −0.09 |
| J Jacobs Solutions Inc. | Reduce -7.6% | 2.21% | −0.05 |
| ZYME Zymeworks Inc. | Reduce -15.5% | 0.25% | +0.02 |
| MBC Masterbrand Inc. | Reduce -0.5% | 0.49% | +0.05 |
| HPQ HP Inc. | Reduce -0.6% | 2.23% | +0.06 |
| AAPL Apple Inc. | Reduce -8.1% | 1.50% | +0.07 |
| ARHS Arhaus Inc. | Reduce -0.7% | 1.28% | +0.15 |
| AMAT Applied Materials Inc. | Reduce -0.7% | 5.15% | +0.15 |
| TPR Tapestry Inc. | Reduce -0.7% | 2.85% | +0.45 |
| LITE Lumentum Holdings Inc. | Reduce -29.6% | 4.32% | +0.46 |
| WBD Warner Bros Discovery Inc. | Reduce -10.3% | 1.70% | +0.50 |
| CIEN Ciena Corp. | Reduce -20.1% | 8.24% | +2.04 |
Portfolio Buys Q2 2025 → Q3 2025
| AZO AutoZone Inc. | Add +100.0% | 1.72% | +0.86 |
| TMO Thermo Fisher Scientific Inc. | Add +40.0% | 1.74% | +0.58 |
| URI United Rentals Inc. | Add +22.2% | 1.77% | +0.56 |
| IQV Iqvia Holdings Inc. | Add +33.3% | 1.45% | +0.47 |
| WST West Pharmaceutical Services | Add +17.2% | 1.55% | +0.36 |
| ATKR Atkore Inc. | Add +14.8% | 1.01% | −0.05 |
| ALGN Align Technology Inc. | Add +36.4% | 0.98% | −0.18 |
| ITGR Integer Holdings Corp. | Add +5.1% | 1.84% | −0.41 |
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 |