Penserra Capital Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Penserra Capital Management LLC reported 1,059 stock positions worth $8.4 billion. Its top holding was Broadcom (AVGO) at 2.5% of the portfolio, followed by Cisco Systems (CSCO, 2.4%) and Northrop Grumman (NOC, 1.8%). Compared with Q3 2025, it opened 121 new positions, sold out of 92, added to 378 and reduced 443. The biggest buy was Vanguard Total Intl Stock (VXUS, shares +150%) and the biggest sale an exit from Cyberark Software Ltd./Israel (CYBR).
- Most Recent 13F
- Q2 2026
- Location
- ORINDA, CA
- CIK
- 0001593324
- Portfolio Value
- $8.4B (Q4 2025)
- SEC Filing
- 0001593324-26-000001 ↗ filed Feb 12, 2026
Holdings Value
Holdings 1,059 stocks · $8.4B
| AVGO Broadcom Inc. | 2.53% | 614,549 | $212.7M | Reduce -29.0% |
| CSCO Cisco Systems Inc. | 2.41% | 2,634,974 | $203.0M | Add +5.9% |
| NOC Northrop Grumman Corp. | 1.85% | 272,129 | $155.2M | Add +5.9% |
| NET Cloudflare Inc. Class A | 1.68% | 715,377 | $141.0M | Add +6.0% |
| PANW Palo Alto Networks Inc. | 1.38% | 629,312 | $115.9M | Reduce -5.8% |
| VGSH Vanguard Short-Term Treasury | 1.34% | 1,912,299 | $112.3M | Add +51.0% |
| GD General Dynamics Corp. | 1.32% | 329,929 | $111.1M | Reduce -8.6% |
| CRWD CrowdStrike Holdings Inc. Class A | 1.30% | 233,596 | $109.5M | Reduce -20.0% |
| FTNT Fortinet Inc. | 1.22% | 1,287,910 | $102.3M | Reduce -5.0% |
| FFIV F5 Inc. | 1.21% | 397,111 | $101.4M | Add +27.8% |
| RBRK Rubrik Inc. Class A | 1.18% | 1,295,631 | $99.1M | Add +39.1% |
| OKTA Okta Inc. | 1.12% | 1,087,860 | $94.1M | Add +18.8% |
| GEN Gen Digital Inc. | 1.10% | 3,389,963 | $92.2M | Add +16.1% |
| CHKP Check Point Software Tech | 1.09% | 493,582 | $91.6M | Add +5.3% |
| VXUS Vanguard Total Intl Stock | 1.07% | 1,187,606 | $89.6M | Add +149.6% |
| ZS Zscaler Inc. | 1.04% | 387,626 | $87.2M | Add +9.0% |
| NVDA Nvidia Corp. | 1.01% | 455,303 | $84.9M | Add +1.1% |
| RDWR Radware Ltd. | 0.90% | 3,133,305 | $75.5M | Add +23.1% |
| ATEN A10 Networks Inc. | 0.90% | 4,260,259 | $75.4M | Add +16.4% |
| VRNS Varonis Systems Inc. | 0.89% | 2,281,839 | $74.8M | Add +80.1% |
| S Sentinelone Inc. Class A | 0.87% | 4,858,267 | $72.9M | Add +23.7% |
| QLYS Qualys Inc. | 0.86% | 547,075 | $72.7M | Add +6.1% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.86% | 904,560 | $72.6M | Reduce -23.8% |
| TENB Tenable Holdings Inc. | 0.77% | 2,756,341 | $64.9M | Add +26.3% |
| PDEC Innovator U.S. Equity Power | 0.75% | 1,450,062 | $62.9M | Reduce -2.7% |
| PFEB Innovator U.S. Equity Power | 0.74% | 1,536,231 | $62.6M | Reduce -2.0% |
| PJAN Innovator U.S. Equity Power | 0.74% | 1,329,811 | $62.5M | Reduce -2.0% |
| PMAR Innovator U.S. Equity Power | 0.74% | 1,387,922 | $62.4M | Reduce -1.5% |
| POCT Innovator U.S. Equity Power | 0.74% | 1,417,784 | $62.3M | Reduce -1.8% |
| PJUL Innovator U.S. Equity Power | 0.74% | 1,339,028 | $62.2M | Reduce -3.9% |
| PAUG Innovator U.S. Equity Power | 0.74% | 1,436,930 | $62.1M | Reduce -3.0% |
| PSEP Innovator U.S. Equity Power | 0.74% | 1,421,428 | $62.1M | Reduce -2.5% |
| PAPR Innovator U.S. Equity Power | 0.74% | 1,587,934 | $62.1M | Add +0.7% |
| PJUN Innovator U.S. Equity Power | 0.74% | 1,482,024 | $62.1M | Reduce -2.4% |
| PMAY Innovator U.S. Equity Power | 0.74% | 1,567,624 | $62.1M | Reduce -0.3% |
| PNOV Innovator U.S. Equity Power | 0.73% | 1,478,393 | $61.8M | Reduce -2.0% |
| RPD RAPID7 Inc. | 0.73% | 4,039,040 | $61.4M | Add +50.6% |
| FSLY Fastly Inc. Class A | 0.71% | 5,832,024 | $59.4M | Reduce -19.4% |
| QCOM Qualcomm Inc. | 0.70% | 346,015 | $59.2M | Add +12.6% |
| ORCL Oracle Corp. | 0.70% | 303,456 | $59.1M | Add +9.3% |
| NOK Nokia Corp.-Spon ADR | 0.68% | 8,878,761 | $57.4M | Add +14.4% |
| MU Micron Technology Inc. | 0.64% | 187,535 | $53.5M | Reduce -35.5% |
| MRVL Marvell Technology Inc. | 0.64% | 629,586 | $53.5M | Add +3.6% |
| RTX RTX Corp. | 0.57% | 263,471 | $48.3M | Add +23.0% |
| ALAB Astera Labs Inc. | 0.57% | 289,804 | $48.2M | Add +551.6% |
| AMD Advanced Micro Devices | 0.56% | 219,638 | $47.0M | Reduce -24.1% |
| GOOGL Alphabet Inc. Class A | 0.56% | 150,238 | $47.0M | Reduce -22.8% |
| LRCX Lam Research Corp. | 0.56% | 274,150 | $46.9M | Reduce -22.4% |
| BSV Vanguard Short-Term Bond ETF | 0.55% | 589,892 | $46.5M | Reduce -17.2% |
| SNOW Snowflake Inc. | 0.55% | 210,836 | $46.2M | Add +37.5% |
| MSFT Microsoft Corp. | 0.54% | 94,544 | $45.7M | Add +34.2% |
| LMT Lockheed Martin Corp. | 0.54% | 94,216 | $45.6M | Add +41.8% |
| CRM Salesforce Inc. | 0.54% | 171,937 | $45.5M | Add +50.3% |
| AAPL Apple Inc. | 0.54% | 166,491 | $45.3M | Reduce -4.1% |
| HON Honeywell International Inc. | 0.53% | 229,736 | $44.8M | Add +69.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.52% | 148,310 | $43.9M | Add +33.5% |
| NTNX Nutanix Inc. Class A | 0.51% | 835,351 | $43.2M | Add +97.2% |
| COHR Coherent Corp. | 0.50% | 229,666 | $42.4M | Reduce -39.4% |
| PLTR Palantir Technologies Inc. Class A | 0.50% | 236,197 | $42.0M | Add +3.4% |
| BIDU Baidu Inc. - Spon ADR | 0.49% | 316,902 | $41.4M | Add +0.1% |
| MDB Mongodb Inc. | 0.49% | 97,981 | $41.1M | Reduce -27.4% |
| SNPS Synopsys Inc. | 0.48% | 86,507 | $40.6M | Add +19.1% |
| ACN Accenture PLC Class A | 0.48% | 150,145 | $40.3M | Add +59.0% |
| KLAC KLA Corp. | 0.48% | 32,964 | $40.1M | Reduce -0.8% |
| ON On Semiconductor | 0.47% | 727,110 | $39.4M | Add +31.3% |
| STM Stmicroelectronics NV-NY SHS | 0.47% | 1,517,517 | $39.4M | Add +63.6% |
| WIT Wipro Ltd.-ADR | 0.47% | 13,819,932 | $39.2M | Add +49.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.47% | 128,780 | $39.1M | Reduce -1.9% |
| TXN Texas Instruments Inc. | 0.46% | 224,856 | $39.0M | Add +47.1% |
| QBTS D-Wave Quantum Inc. | 0.46% | 1,490,284 | $39.0M | Reduce -11.2% |
| ARM Arm Holdings PLC-ADR | 0.46% | 354,147 | $38.7M | Add +30.7% |
| HPE Hewlett Packard Enterprise | 0.46% | 1,610,960 | $38.7M | Add +1.9% |
| ADI Analog Devices Inc. | 0.46% | 141,887 | $38.5M | Add +16.3% |
| AMAT Applied Materials Inc. | 0.46% | 149,551 | $38.4M | Reduce -11.3% |
| TDC Teradata Corp. | 0.46% | 1,261,518 | $38.4M | Add +1.0% |
| ESTC Elastic NV | 0.45% | 506,399 | $38.2M | Add +51.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.45% | 35,681 | $38.2M | Add +0.9% |
| TER Teradyne Inc. | 0.45% | 196,649 | $38.1M | Reduce -39.7% |
| CDNS Cadence Design SYS Inc. | 0.45% | 121,736 | $38.0M | Add +28.0% |
| MKSI MKS Inc. | 0.45% | 237,906 | $38.0M | Reduce -19.6% |
| MCHP Microchip Technology Inc. | 0.45% | 591,137 | $37.7M | Add +43.0% |
| NXPI NXP Semiconductors NV | 0.45% | 173,084 | $37.6M | Add +32.4% |
| LSCC Lattice Semiconductor Corp. | 0.45% | 509,369 | $37.5M | Reduce -6.3% |
| CRUS Cirrus Logic Inc. | 0.45% | 316,029 | $37.4M | Add +17.0% |
| ONTO Onto Innovation Inc. | 0.45% | 237,212 | $37.4M | Reduce -14.5% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.44% | 195,597 | $37.4M | Reduce -21.1% |
| INTC Intel Corp. | 0.44% | 1,005,231 | $37.1M | Reduce -28.1% |
| TSEM Tower Semiconductor Ltd. | 0.44% | 315,704 | $37.1M | Reduce -53.0% |
| RDNT Radnet Inc. | 0.44% | 517,822 | $36.9M | Add +8.1% |
| BABA Alibaba Group Holding-SP ADR | 0.44% | 251,478 | $36.9M | Add +9.1% |
| BAH Booz Allen Hamilton Holdings | 0.43% | 429,372 | $36.2M | Add +55.9% |
| IONQ Ionq Inc. | 0.41% | 774,817 | $34.8M | Reduce -3.2% |
| RGTI Rigetti Computing Inc. | 0.40% | 1,529,082 | $33.9M | Reduce -37.5% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.39% | 67,949 | $33.1M | Reduce -27.6% |
| CRWV Coreweave Inc. Class A | 0.39% | 459,718 | $32.9M | Add +33777.5% |
| NVEC Nve Corp. | 0.39% | 551,045 | $32.7M | Add +45.8% |
| QUBT Quantum Computing Inc. | 0.39% | 3,179,905 | $32.6M | Add +94.1% |
| BTQ BTQ Technologies Corp. | 0.37% | 6,015,000 | $30.8M | New |
| ARQQ Arqit Quantum Inc. | 0.36% | 1,378,655 | $30.2M | Add +35.0% |
| VCIT Vanguard Int-Term Corporate | 0.35% | 348,069 | $29.1M | Reduce -5.8% |
Other holdings (3): bonds, preferreds, convertibles and warrants · $9.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 44,392 | $3.4M | Add +1.8% |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 62,954 | $3.2M | Add +3.7% |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 59,467 | $3.1M | Reduce -1.2% |
Total filed on the 13F, all lines: $8.4B.
Portfolio Sells Q3 2025 → Q4 2025
| CYBR Cyberark Software Ltd./Israel | Sold out | 0.00% | −1.23 |
| AVGO Broadcom Inc. | Reduce -29.0% | 2.53% | −0.89 |
| RGTI Rigetti Computing Inc. | Reduce -37.5% | 0.40% | −0.47 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -20.0% | 1.30% | −0.41 |
| XCEM Columbia Em Core Ex-China | Reduce -52.6% | 0.31% | −0.31 |
| VCSH Vanguard S/T Corp. Bond ETF | Sold out | 0.00% | −0.25 |
| PANW Palo Alto Networks Inc. | Reduce -5.8% | 1.38% | −0.25 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -23.8% | 0.86% | −0.25 |
| VPL Vanguard Ftse Pacific ETF | Reduce -42.5% | 0.30% | −0.21 |
| HYLB Xtrackers Usd High Yield Cor | Sold out | 0.00% | −0.21 |
| BND Vanguard Total Bond Market | Sold out | 0.00% | −0.19 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -40.7% | 0.29% | −0.19 |
| VGK Vanguard Ftse Europe ETF | Reduce -39.5% | 0.31% | −0.18 |
| IONQ Ionq Inc. | Reduce -3.2% | 0.41% | −0.18 |
| FXI iShares China Large-Cap ETF | Reduce -59.7% | 0.10% | −0.17 |
| GD General Dynamics Corp. | Reduce -8.6% | 1.32% | −0.15 |
| FTNT Fortinet Inc. | Reduce -5.0% | 1.22% | −0.15 |
| VB Vanguard Most SM-Cap ETF-Usd | Sold out | 0.00% | −0.15 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -27.6% | 0.39% | −0.14 |
| TSEM Tower Semiconductor Ltd. | Reduce -53.0% | 0.44% | −0.14 |
| BLV Vanguard Long-Term Bond ETF | Sold out | 0.00% | −0.13 |
| SHV iShares 0-1 Year Treasury Bo | Sold out | 0.00% | −0.13 |
| TLT iShares 20+ Year Treasury BD | Sold out | 0.00% | −0.13 |
| BIV Vanguard Intermediate-Term B | Reduce -40.4% | 0.18% | −0.13 |
| BSV Vanguard Short-Term Bond ETF | Reduce -17.2% | 0.55% | −0.12 |
| INTC Intel Corp. | Reduce -28.1% | 0.44% | −0.12 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -21.1% | 0.44% | −0.11 |
| ANET Arista Networks Inc. | Reduce -26.4% | 0.21% | −0.11 |
| TER Teradyne Inc. | Reduce -39.7% | 0.45% | −0.08 |
| W Wayfair Inc. Class A | Reduce -68.3% | 0.04% | −0.08 |
| CLS Celestica Inc. | Reduce -40.0% | 0.16% | −0.06 |
| COIN Coinbase Global Inc. Class A | Reduce -3.7% | 0.11% | −0.06 |
| HIMS Hims & Hers Health Inc. | Reduce -34.7% | 0.03% | −0.05 |
| VWO Vanguard Ftse Emerging Marke | Reduce -19.7% | 0.18% | −0.05 |
| INOD Innodata Inc. | Sold out | 0.00% | −0.05 |
| HOOD Robinhood Markets Inc. Class A | Reduce -99.4% | 0.00% | −0.05 |
| PYPL PayPal Holdings Inc. | Reduce -7.1% | 0.19% | −0.05 |
| XLRE SS Real Estate Select Sector | Reduce -20.4% | 0.14% | −0.04 |
| BCI Abrdn Bloomberg All Commodit | Reduce -13.8% | 0.15% | −0.04 |
| RMBS Rambus Inc. | Sold out | 0.00% | −0.04 |
| AMSC American Superconductor Corp. | Sold out | 0.00% | −0.04 |
| IREN Iren Ltd. | Sold out | 0.00% | −0.04 |
| HUBS HubSpot Inc. | Reduce -96.3% | 0.00% | −0.04 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −0.04 |
| FLWS 1-800-Flowers.com Inc. Class A | Sold out | 0.00% | −0.04 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -17.7% | 0.19% | −0.04 |
| FVD First Trust Value Line DVD | Sold out | 0.00% | −0.04 |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Sold out | 0.00% | −0.04 |
| LYFT LYFT Inc. Class A | Reduce -41.9% | 0.04% | −0.04 |
| CMRC Commerce.com Inc. | Sold out | 0.00% | −0.04 |
Portfolio Buys Q3 2025 → Q4 2025
| VXUS Vanguard Total Intl Stock | Add +149.6% | 1.07% | +0.65 |
| ALAB Astera Labs Inc. | Add +551.6% | 0.57% | +0.47 |
| VGSH Vanguard Short-Term Treasury | Add +51.0% | 1.34% | +0.44 |
| CRWV Coreweave Inc. Class A | Add +33777.5% | 0.39% | +0.39 |
| CSCO Cisco Systems Inc. | Add +5.9% | 2.41% | +0.38 |
| BTQ BTQ Technologies Corp. | New | 0.37% | +0.37 |
| MBB iShares MBS ETF | New | 0.30% | +0.30 |
| RBRK Rubrik Inc. Class A | Add +39.1% | 1.18% | +0.26 |
| NOK Nokia Corp.-Spon ADR | Add +14.4% | 0.68% | +0.24 |
| CRM Salesforce Inc. | Add +50.3% | 0.54% | +0.22 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | New | 0.21% | +0.21 |
| VYM Vanguard High DVD Yield ETF | New | 0.20% | +0.20 |
| ACN Accenture PLC Class A | Add +59.0% | 0.48% | +0.20 |
| HON Honeywell International Inc. | Add +69.7% | 0.53% | +0.19 |
| DBMF Imgp Dbi MFT STR ETF-Usd Inc. | New | 0.18% | +0.18 |
| WIT Wipro Ltd.-ADR | Add +49.5% | 0.47% | +0.18 |
| STM Stmicroelectronics NV-NY SHS | Add +63.6% | 0.47% | +0.15 |
| IBM Intl Business Machines Corp. | Add +33.5% | 0.52% | +0.15 |
| RTX RTX Corp. | Add +23.0% | 0.57% | +0.15 |
| LMT Lockheed Martin Corp. | Add +41.8% | 0.54% | +0.14 |
| ON On Semiconductor | Add +31.3% | 0.47% | +0.14 |
| IEF iShares 7-10 Year Treasury B | New | 0.14% | +0.14 |
| NTNX Nutanix Inc. Class A | Add +97.2% | 0.51% | +0.14 |
| SNOW Snowflake Inc. | Add +37.5% | 0.55% | +0.14 |
| TDC Teradata Corp. | Add +1.0% | 0.46% | +0.13 |
| MCHP Microchip Technology Inc. | Add +43.0% | 0.45% | +0.13 |
| RPD RAPID7 Inc. | Add +50.6% | 0.73% | +0.13 |
| TXN Texas Instruments Inc. | Add +47.1% | 0.46% | +0.13 |
| ESTC Elastic NV | Add +51.9% | 0.45% | +0.12 |
| SPSM SS SPDR P S&P 600 Small Cap | New | 0.12% | +0.12 |
| OKTA Okta Inc. | Add +18.8% | 1.12% | +0.11 |
| MSFT Microsoft Corp. | Add +34.2% | 0.54% | +0.11 |
| GEN Gen Digital Inc. | Add +16.1% | 1.10% | +0.10 |
| ATEN A10 Networks Inc. | Add +16.4% | 0.90% | +0.10 |
| BAH Booz Allen Hamilton Holdings | Add +55.9% | 0.43% | +0.10 |
| ADI Analog Devices Inc. | Add +16.3% | 0.46% | +0.10 |
| NVEC Nve Corp. | Add +45.8% | 0.39% | +0.09 |
| QCOM Qualcomm Inc. | Add +12.6% | 0.70% | +0.09 |
| RDWR Radware Ltd. | Add +23.1% | 0.90% | +0.09 |
| NXPI NXP Semiconductors NV | Add +32.4% | 0.45% | +0.09 |
| MRCY Mercury Systems Inc. | Add +4203.7% | 0.07% | +0.07 |
| RKLB Rocket Lab Corp. | Add +14.8% | 0.17% | +0.07 |
| FIGS Figs Inc. Class A | New | 0.06% | +0.06 |
| FSLR First Solar Inc. | Add +3350.3% | 0.06% | +0.06 |
| RDDT Reddit Inc. Class A | Add +165.6% | 0.10% | +0.06 |
| LNG Cheniere Energy Inc. | Add +115047.6% | 0.06% | +0.06 |
| STRL Sterling Infrastructure Inc. | New | 0.05% | +0.05 |
| SNPS Synopsys Inc. | Add +19.1% | 0.48% | +0.05 |
| ISRG Intuitive Surgical Inc. | Add +764.4% | 0.06% | +0.05 |
| CDNS Cadence Design SYS Inc. | Add +28.0% | 0.45% | +0.05 |
Notes & Other Activity Q3 2025 → Q4 2025
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Add +1.8% | 44,392 | $3.4M |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | Add +3.7% | 62,954 | $3.2M |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Reduce -1.2% | 59,467 | $3.1M |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | Sold out | 12,129 | $306Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,124 | $13.0B | AVGO, CSCO, NET, NOC, PANW |
| Q1 2026 | 1,092 | $8.5B | AVGO, CSCO, NET, NOC, PANW |
| Q4 2025 | 1,059 | $8.4B | AVGO, CSCO, NOC, NET, PANW |
| Q3 2025 | 1,030 | $8.4B | AVGO, CSCO, NOC, NET, CRWD |
| Q2 2025 | 1,019 | $7.2B | AVGO, CSCO, NET, NOC, CRWD |
| Q1 2025 | 1,036 | $5.6B | AVGO, NOC, CSCO, GD, PANW |
| Q4 2024 | 1,092 | $5.5B | AVGO, CSCO, PANW, NOC, CRWD |
| Q3 2024 | 1,136 | $4.6B | AVGO, CSCO, PANW, RSP, NOC |
| Q2 2024 | 1,250 | $7.9B | UNH, MSFT, AAPL, V, CSCO |
| Q1 2024 | 1,237 | $8.0B | AVGO, CSCO, V, MSFT, HD |