RGM Capital, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), RGM Capital, LLC reported 19 stock positions worth $2.4 billion. Its top holding was Dynatrace (DT) at 8.4% of the portfolio, followed by Costar (CSGP, 7.4%) and Varonis Systems (VRNS, 6.5%). Compared with Q2 2025, it sold out of 1, added to 12 and reduced 7. The biggest buy was ServiceNow (NOW, shares +62%) and the biggest sale an exit from Nice Ltd. - Spon ADR (NICE).
- Most Recent 13F
- Q1 2026
- Location
- NAPLES, FL
- CIK
- 0001323953
- Portfolio Value
- $2.4B (Q3 2025)
- SEC Filing
- 0001323953-25-000022 ↗ filed Nov 13, 2025
Holdings Value
Holdings 19 stocks · $2.4B
| DT Dynatrace Inc. | 8.45% | 4,141,041 | $200.6M | Add +2.2% |
| CSGP Costar Group Inc. | 7.43% | 2,092,703 | $176.6M | Reduce -1.4% |
| VRNS Varonis Systems Inc. | 6.53% | 2,699,513 | $155.1M | Reduce -1.8% |
| TYL Tyler Technologies Inc. | 6.38% | 289,870 | $151.6M | Add +0.6% |
| PCOR Procore Technologies Inc. | 6.37% | 2,074,411 | $151.3M | Add +5.8% |
| RVTY Revvity Inc. | 6.23% | 1,689,388 | $148.1M | Add +5.5% |
| NOW ServiceNow Inc. | 6.09% | 157,094 | $144.6M | Add +61.8% |
| ESTC Elastic NV | 5.94% | 1,669,698 | $141.1M | Add +11.4% |
| VEEV Veeva Systems Inc. Class A | 5.89% | 469,748 | $139.9M | Add +8.1% |
| ENTG Entegris Inc. | 5.74% | 1,474,701 | $136.4M | Add +2.0% |
| TENB Tenable Holdings Inc. | 5.48% | 4,468,156 | $130.3M | Add +12.7% |
| TECH Bio-Techne Corp. | 5.39% | 2,300,052 | $128.0M | Add +4.5% |
| CYBR Cyberark Software Ltd./Israel | 4.90% | 240,722 | $116.3M | Reduce -49.5% |
| GWRE Guidewire Software Inc. | 4.43% | 457,456 | $105.2M | Reduce -1.4% |
| BOX Box Inc. Class A | 4.18% | 3,078,648 | $99.3M | Reduce -1.1% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 3.73% | 595,057 | $88.6M | Add +41.0% |
| MANH Manhattan Associates Inc. | 2.96% | 343,456 | $70.4M | Reduce -0.8% |
| PD Pagerduty Inc. | 2.92% | 4,194,782 | $69.3M | Reduce -25.8% |
| SPSC SPS Commerce Inc. | 0.96% | 219,085 | $22.8M | Add +504.5% |
Portfolio Sells Q2 2025 → Q3 2025
| NICE Nice Ltd. - Spon ADR | Sold out | 0.00% | −4.68 |
| CYBR Cyberark Software Ltd./Israel | Reduce -49.5% | 4.90% | −2.96 |
| PD Pagerduty Inc. | Reduce -25.8% | 2.92% | −0.58 |
| BOX Box Inc. Class A | Reduce -1.1% | 4.18% | −0.12 |
| GWRE Guidewire Software Inc. | Reduce -1.4% | 4.43% | +0.01 |
| MANH Manhattan Associates Inc. | Reduce -0.8% | 2.96% | +0.20 |
| CSGP Costar Group Inc. | Reduce -1.4% | 7.43% | +0.52 |
| VRNS Varonis Systems Inc. | Reduce -1.8% | 6.53% | +0.88 |
Portfolio Buys Q2 2025 → Q3 2025
| NOW ServiceNow Inc. | Add +61.8% | 6.09% | +2.04 |
| ENTG Entegris Inc. | Add +2.0% | 5.74% | +1.02 |
| PCOR Procore Technologies Inc. | Add +5.8% | 6.37% | +0.94 |
| VEEV Veeva Systems Inc. Class A | Add +8.1% | 5.89% | +0.82 |
| ESTC Elastic NV | Add +11.4% | 5.94% | +0.82 |
| TECH Bio-Techne Corp. | Add +4.5% | 5.39% | +0.80 |
| SPSC SPS Commerce Inc. | Add +504.5% | 0.96% | +0.76 |
| JKHY Jack Henry & Associates Inc. | Add +41.0% | 3.73% | +0.65 |
| TENB Tenable Holdings Inc. | Add +12.7% | 5.48% | +0.06 |
| RVTY Revvity Inc. | Add +5.5% | 6.23% | −0.03 |
| TYL Tyler Technologies Inc. | Add +0.6% | 6.38% | −0.54 |
| DT Dynatrace Inc. | Add +2.2% | 8.45% | −0.61 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q1 2026 | 0 | $0 | |
| Q4 2025 | 17 | $2.1B | DT, NOW, RVTY, PCOR, TYL |
| Q3 2025 | 19 | $2.4B | DT, CSGP, VRNS, TYL, PCOR |
| Q2 2025 | 20 | $2.5B | DT, CYBR, TYL, CSGP, RVTY |
| Q1 2025 | 20 | $2.4B | DT, CYBR, TYL, CSGP, GWRE |
| Q4 2024 | 20 | $2.4B | DT, CYBR, TYL, GWRE, CSGP |
| Q3 2024 | 19 | $2.3B | DT, CYBR, TYL, GWRE, NICE |
| Q2 2024 | 20 | $2.5B | CYBR, GWRE, TYL, NICE, DT |
| Q1 2024 | 19 | $2.5B | NICE, CYBR, GWRE, TYL, DT |