North Growth Management Ltd.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), North Growth Management Ltd. reported 47 stock positions worth $639.3 million. Its top holding was Ciena (CIEN) at 9.0% of the portfolio, followed by Jabil (JBL, 7.3%) and Lumentum (LITE, 5.5%). Compared with Q3 2025, it added to 27 and reduced 6. The biggest buy was Abercrombie & Fitch Class A (ANF, shares +1%) and the biggest sale Qualcomm (QCOM, shares −21%).
- Most Recent 13F
- Q2 2026
- Location
- VANCOUVER, A1
- CIK
- 0001745796
- Portfolio Value
- $639.3M (Q4 2025)
- SEC Filing
- 0001745796-26-000001 ↗ filed Feb 13, 2026
Holdings Value
Holdings 47 stocks · $639.3M
| CIEN Ciena Corp. | 9.03% | 247,000 | $57.7M | Reduce -24.0% |
| JBL Jabil Inc. | 7.29% | 204,000 | $46.6M | Add +1.0% |
| LITE Lumentum Holdings Inc. | 5.46% | 95,000 | $34.9M | Reduce -37.5% |
| AMAT Applied Materials Inc. | 5.34% | 133,000 | $34.1M | Reduce -7.6% |
| COHR Coherent Corp. | 4.20% | 145,000 | $26.8M | Reduce -27.5% |
| EAT Brinker International Inc. | 3.13% | 140,000 | $20.0M | Add +10.2% |
| SGI Somnigroup International Inc. | 2.97% | 213,000 | $19.0M | Add +1.4% |
| TPR Tapestry Inc. | 2.93% | 147,000 | $18.7M | Add +1.4% |
| MSI Motorola Solutions Inc. | 2.90% | 48,000 | $18.5M | No change |
| JCI Johnson Controls Internation | 2.88% | 153,000 | $18.4M | Add +0.7% |
| BKNG Booking Holdings Inc. | 2.85% | 3,000 | $18.3M | No change |
| NVDA Nvidia Corp. | 2.41% | 83,000 | $15.4M | Add +1.2% |
| ANF Abercrombie & Fitch Co. Class A | 2.36% | 120,000 | $15.1M | Add +0.8% |
| EA Electronic Arts Inc. | 2.32% | 73,000 | $14.8M | Add +1.4% |
| WBD Warner Bros Discovery Inc. | 2.27% | 503,000 | $14.5M | Add +0.8% |
| ULTA Ulta Beauty Inc. | 2.19% | 23,000 | $14.0M | No change |
| TMO Thermo Fisher Scientific Inc. | 2.11% | 23,000 | $13.5M | Add +9.5% |
| TXN Texas Instruments Inc. | 1.98% | 73,000 | $12.7M | Add +28.1% |
| J Jacobs Solutions Inc. | 1.97% | 95,000 | $12.6M | Add +11.8% |
| GPN Global Payments Inc. | 1.85% | 153,000 | $11.8M | Add +14.2% |
| IQV Iqvia Holdings Inc. | 1.78% | 51,000 | $11.4M | Add +15.9% |
| WTS Watts Water Technologies-A | 1.74% | 40,000 | $11.1M | No change |
| WST West Pharmaceutical Services | 1.69% | 39,000 | $10.8M | Add +14.7% |
| HPQ HP Inc. | 1.66% | 476,000 | $10.6M | Add +1.3% |
| NVR NVR Inc. | 1.62% | 1,000 | $10.3M | No change |
| ITGR Integer Holdings Corp. | 1.59% | 129,000 | $10.2M | Add +25.2% |
| AZO AutoZone Inc. | 1.58% | 3,000 | $10.1M | Add +50.0% |
| QCOM Qualcomm Inc. | 1.53% | 57,000 | $9.8M | Reduce -20.8% |
| INMD Inmode Ltd. | 1.52% | 662,000 | $9.7M | Add +1.2% |
| AAPL Apple Inc. | 1.45% | 34,000 | $9.3M | No change |
| MSFT Microsoft Corp. | 1.43% | 19,000 | $9.2M | No change |
| CROX Crocs Inc. | 1.38% | 103,000 | $8.8M | Add +21.2% |
| URI United Rentals Inc. | 1.37% | 11,000 | $8.7M | No change |
| FDX FedEx Corp. | 1.30% | 29,000 | $8.3M | Add +3.6% |
| ARHS Arhaus Inc. | 1.23% | 702,000 | $7.9M | Add +1.1% |
| ELV Elevance Health Inc. | 1.22% | 22,000 | $7.8M | No change |
| NKE Nike Inc. Class B | 1.16% | 116,000 | $7.4M | Add +36.5% |
| ALGN Align Technology Inc. | 1.11% | 45,000 | $7.1M | No change |
| BIIB Biogen Inc. | 0.94% | 34,000 | $6.0M | No change |
| ATKR Atkore Inc. | 0.93% | 94,000 | $5.9M | Add +1.1% |
| FBIN Fortune Brands Innovations I | 0.89% | 114,000 | $5.7M | Add +0.9% |
| ODFL Old Dominion Freight Line | 0.76% | 31,000 | $4.9M | No change |
| FSLR First Solar Inc. | 0.61% | 15,000 | $3.9M | No change |
| AMTM Amentum Holdings Inc. | 0.44% | 98,000 | $2.8M | Add +1.0% |
| MBC Masterbrand Inc. | 0.38% | 218,000 | $2.4M | Add +1.4% |
| ZYME Zymeworks Inc. | 0.18% | 45,000 | $1.2M | Reduce -45.1% |
| LULU Lululemon Athletica Inc. | 0.04% | 1,000 | $273K | No change |
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
| ANF Abercrombie & Fitch Co. Class A | Add +0.8% | 2.36% | +0.60 |
| WBD Warner Bros Discovery Inc. | Add +0.8% | 2.27% | +0.57 |
| TMO Thermo Fisher Scientific Inc. | Add +9.5% | 2.11% | +0.37 |
| IQV Iqvia Holdings Inc. | Add +15.9% | 1.78% | +0.33 |
| EAT Brinker International Inc. | Add +10.2% | 3.13% | +0.33 |
| CROX Crocs Inc. | Add +21.2% | 1.38% | +0.15 |
| TXN Texas Instruments Inc. | Add +28.1% | 1.98% | +0.15 |
| WST West Pharmaceutical Services | Add +14.7% | 1.69% | +0.14 |
| FDX FedEx Corp. | Add +3.6% | 1.30% | +0.13 |
| NKE Nike Inc. Class B | Add +36.5% | 1.16% | +0.13 |
| TPR Tapestry Inc. | Add +1.4% | 2.93% | +0.07 |
| AMTM Amentum Holdings Inc. | Add +1.0% | 0.44% | +0.04 |
| JCI Johnson Controls Internation | Add +0.7% | 2.88% | −0.03 |
| ARHS Arhaus Inc. | Add +1.1% | 1.23% | −0.05 |
| GPN Global Payments Inc. | Add +14.2% | 1.85% | −0.08 |
| ATKR Atkore Inc. | Add +1.1% | 0.93% | −0.09 |
| SGI Somnigroup International Inc. | Add +1.4% | 2.97% | −0.12 |
| MBC Masterbrand Inc. | Add +1.4% | 0.38% | −0.12 |
| AZO AutoZone Inc. | Add +50.0% | 1.58% | −0.14 |
| FBIN Fortune Brands Innovations I | Add +0.9% | 0.89% | −0.16 |
| INMD Inmode Ltd. | Add +1.2% | 1.52% | −0.18 |
| EA Electronic Arts Inc. | Add +1.4% | 2.32% | −0.20 |
| J Jacobs Solutions Inc. | Add +11.8% | 1.97% | −0.24 |
| NVDA Nvidia Corp. | Add +1.2% | 2.41% | −0.25 |
| ITGR Integer Holdings Corp. | Add +25.2% | 1.59% | −0.26 |
| JBL Jabil Inc. | Add +1.0% | 7.29% | −0.35 |
| HPQ HP Inc. | Add +1.3% | 1.66% | −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 |