Norwood Investment Partners, LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Norwood Investment Partners, LP reported 15 stock positions worth $88.8 million. Its top holding was Api (APG) at 19.2% of the portfolio, followed by GFL Environmental Inc.-Sub VT (GFL, 14.4%) and Driven Brands (DRVN, 9.5%). Compared with Q3 2025, it opened 3 new positions, sold out of 3, added to 3 and reduced 7. The biggest buy was Driven Brands (DRVN, shares +138%) and the biggest sale Clearwater Analytics HDS-A (CWAN, shares −81%).
- Most Recent 13F
- Q2 2026
- Location
- MILL VALLEY, CA
- CIK
- 0001888610
- Portfolio Value
- $88.8M (Q4 2025)
- SEC Filing
- 0001888610-26-000001 ↗ filed Feb 17, 2026
Holdings Value
Holdings 15 stocks · $88.8M
| APG Api Group Corp. | 19.21% | 446,000 | $17.1M | Reduce -19.9% |
| GFL GFL Environmental Inc.-Sub VT | 14.41% | 297,920 | $12.8M | Add +12.5% |
| DRVN Driven Brands Holdings Inc. | 9.51% | 570,000 | $8.4M | Add +138.1% |
| FLYW Flywire Corp.-Voting | 9.38% | 588,083 | $8.3M | Reduce -31.7% |
| FSV Firstservice Corp. | 7.00% | 40,000 | $6.2M | Add +100.0% |
| MGNI Magnite Inc. | 6.03% | 330,000 | $5.4M | Reduce -23.3% |
| AMRZ Amrize Ltd. | 4.49% | 73,800 | $4.0M | Reduce -5.6% |
| EEFT Euronet Worldwide Inc. | 4.41% | 51,500 | $3.9M | Reduce -24.8% |
| ACVA Acv Auctions Inc. Class A | 4.38% | 485,307 | $3.9M | New |
| CWAN Clearwater Analytics HDS-A | 4.32% | 159,000 | $3.8M | Reduce -81.4% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 4.20% | 47,746 | $3.7M | Reduce -54.6% |
| PRTH Priority Technology Holdings | 3.87% | 629,869 | $3.4M | New |
| TFII Tfi International Inc. | 3.72% | 32,000 | $3.3M | No change |
| DSGR Distribution Solutions Group | 3.72% | 120,700 | $3.3M | No change |
| DSP Viant Technology Inc. Class A | 1.34% | 98,511 | $1.2M | New |
Portfolio Sells Q3 2025 → Q4 2025
| CWAN Clearwater Analytics HDS-A | Reduce -81.4% | 4.32% | −8.91 |
| THRY Thryv Holdings Inc. | Sold out | 0.00% | −6.15 |
| PAR Par Technology Corp. | Sold out | 0.00% | −3.68 |
| CLBT Cellebrite Di Ltd. | Sold out | 0.00% | −3.68 |
| KSPI JSC Kaspi.kz ADR | Reduce -54.6% | 4.20% | −3.18 |
| MGNI Magnite Inc. | Reduce -23.3% | 6.03% | −2.02 |
| EEFT Euronet Worldwide Inc. | Reduce -24.8% | 4.41% | −0.76 |
| FLYW Flywire Corp.-Voting | Reduce -31.7% | 9.38% | −0.64 |
| AMRZ Amrize Ltd. | Reduce -5.6% | 4.49% | +1.23 |
| APG Api Group Corp. | Reduce -19.9% | 19.21% | +2.77 |
Portfolio Buys Q3 2025 → Q4 2025
| DRVN Driven Brands Holdings Inc. | Add +138.1% | 9.51% | +6.19 |
| ACVA Acv Auctions Inc. Class A | New | 4.38% | +4.38 |
| PRTH Priority Technology Holdings | New | 3.87% | +3.87 |
| FSV Firstservice Corp. | Add +100.0% | 7.00% | +3.73 |
| GFL GFL Environmental Inc.-Sub VT | Add +12.5% | 14.41% | +3.62 |
| DSP Viant Technology Inc. Class A | New | 1.34% | +1.34 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 14 | $72.4M | GFL, CTRI, TFII, DRVN, APG |
| Q1 2026 | 15 | $65.0M | GFL, DRVN, APG, TFII, AMRZ |
| Q4 2025 | 15 | $88.8M | APG, GFL, DRVN, FLYW, FSV |
| Q3 2025 | 15 | $116.3M | APG, CWAN, GFL, FLYW, MGNI |
| Q2 2025 | 15 | $133.5M | APG, GFL, CWAN, DRVN, MGNI |
| Q1 2025 | 14 | $112.1M | DRVN, APG, ALIT, GFL, PAR |
| Q4 2024 | 12 | $140.1M | APG, DSGR, ALIT, PAR, TFII |
| Q3 2024 | 12 | $148.2M | DSGR, APG, ALIT, PAR, IMXI |
| Q2 2024 | 11 | $155.3M | APG, DSGR, ALIT, EEFT, IMXI |
| Q1 2024 | 13 | $156.6M | DSGR, APG, WSC, EEFT, IMXI |