Scalar Gauge Management, LLC In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Scalar Gauge Management, LLC reported 25 stock positions worth $103.7 million . Its top holding was Fabrinet (FN) at 12.6% of the portfolio, followed by Celestica (CLS, 8.7% ) and Legence Class A (LGN, 8.2% ). Compared with Q4 2025, it opened 15 new positions, sold out of 18, added to 1 and reduced 9. The biggest buy was a new position in Legence Class A (LGN) and the biggest sale Blackline (BL, shares −71% ).
Location DALLAS, TX
CIK 0001965542
Portfolio Value $103.7M (Q1 2026) Holdings 25 stocks · $103.7M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2025 FN Fabrinet 25,000 $13.0M Add +35.1% CLS Celestica Inc. 32,000 $9.0M Reduce -11.1% LGN Legence Corp. Class A 150,000 $8.5M New FIX Comfort Systems USA Inc. 6,100 $8.4M New ONTO Onto Innovation Inc. 36,000 $7.4M New VRT Vertiv Holdings Co. Class A 24,000 $6.0M New BL Blackline Inc. 153,143 $5.7M Reduce -71.0% AAOI Applied Optoelectronics Inc. 59,301 $5.0M Reduce -56.7% CGNT Cognyte Software Ltd. 549,032 $4.4M Reduce -39.3% SIMO Silicon Motion Technol-ADR 39,000 $4.4M New TER Teradyne Inc. 14,000 $4.2M New CAMT Camtek Ltd. 23,500 $3.6M New TTMI TTM Technologies 34,000 $3.3M Reduce -22.7% NFLX Netflix Inc. 33,000 $3.2M Reduce -31.3% COHR Coherent Corp. 13,000 $3.1M New SMTC Semtech Corp. 40,000 $3.1M New HWM Howmet Aerospace Inc. 13,000 $3.0M New BE Bloom Energy Corp. Class A 15,000 $2.0M New AVPT Avepoint Inc. 190,000 $1.8M New POWI Power Integrations Inc. 35,000 $1.8M New BRZE Braze Inc. Class A 30,000 $708K Reduce -75.8% CCC CCC Intelligent Solutions Ho 110,000 $660K New VERX Vertex Inc. Class A 55,000 $654K New WEAV Weave Communications Inc. 104,188 $481K Reduce -43.4% OSPN Onespan Inc. 31,641 $333K Reduce -24.0%
Options reported separately and not counted above: BRAZE INC calls ($19K).
Portfolio Sells Q4 2025 → Q1 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▲ BL Blackline Inc. Reduce -71.0% 5.47% −13.89 SITM Sitime Corp. Sold out 0.00% −10.07 AVGO Broadcom Inc. Sold out 0.00% −5.16 SNOW Snowflake Inc. Sold out 0.00% −4.65 AXON Axon Enterprise Inc. Sold out 0.00% −3.95 ANET Arista Networks Inc. Sold out 0.00% −3.91 ZS Zscaler Inc. Sold out 0.00% −3.73 AAON Aaon Inc. Sold out 0.00% −2.58 MU Micron Technology Inc. Sold out 0.00% −2.46 MRVL Marvell Technology Inc. Sold out 0.00% −2.20 BRZE Braze Inc. Class A Reduce -75.8% 0.68% −2.14 CRDO Credo Technology Group Holdi Sold out 0.00% −1.91 META Meta Platforms Inc. Class A Sold out 0.00% −1.75 MXL Maxlinear Inc. Sold out 0.00% −1.68 NRG NRG Energy Inc. Sold out 0.00% −1.58 CGNT Cognyte Software Ltd. Reduce -39.3% 4.29% −1.35 CTAS Cintas Corp. Sold out 0.00% −1.25 WIX Wix.com Ltd. Sold out 0.00% −0.96 OS Onestream Inc. Sold out 0.00% −0.91 CWAN Clearwater Analytics HDS-A Sold out 0.00% −0.88 WEAV Weave Communications Inc. Reduce -43.4% 0.46% −0.46 AMZN Amazon.com Inc. Sold out 0.00% −0.46 OSPN Onespan Inc. Reduce -24.0% 0.32% −0.03 NFLX Netflix Inc. Reduce -31.3% 3.06% +0.08 TTMI TTM Technologies Reduce -22.7% 3.19% +1.18 CLS Celestica Inc. Reduce -11.1% 8.69% +1.64 AAOI Applied Optoelectronics Inc. Reduce -56.7% 4.84% +1.67
Portfolio Buys Q4 2025 → Q1 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▼ LGN Legence Corp. Class A New 8.17% +8.17 FIX Comfort Systems USA Inc. New 8.11% +8.11 ONTO Onto Innovation Inc. New 7.12% +7.12 FN Fabrinet Add +35.1% 12.58% +6.99 VRT Vertiv Holdings Co. Class A New 5.80% +5.80 SIMO Silicon Motion Technol-ADR New 4.22% +4.22 TER Teradyne Inc. New 4.00% +4.00 CAMT Camtek Ltd. New 3.44% +3.44 COHR Coherent Corp. New 2.99% +2.99 SMTC Semtech Corp. New 2.97% +2.97 HWM Howmet Aerospace Inc. New 2.89% +2.89 BE Bloom Energy Corp. Class A New 1.96% +1.96 AVPT Avepoint Inc. New 1.74% +1.74 POWI Power Integrations Inc. New 1.73% +1.73 CCC CCC Intelligent Solutions Ho New 0.64% +0.64 VERX Vertex Inc. Class A New 0.63% +0.63
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ JAMF HLDG CORP call Sold out 700 $348Kbefore exit CELESTICA INC call Sold out 100 $264Kbefore exit BLACKLINE INC call Sold out 207 $88Kbefore exit MARVELL TECHNOLOGY INC call Sold out 100 $65Kbefore exit BRAZE INC call New 100 $19K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 26 $181.3M FN, CLS, FIX, ONTO, SITM Q1 2026 25 $103.7M FN, CLS, LGN, FIX, ONTO Q4 2025 28 $150.8M BL, SITM, CLS, CGNT, FN Q3 2025 29 $196.1M BL, AVGO, FIX, FN, AXON Q2 2025 24 $174.9M BL, PD, CLS, CWAN, FIVN Q1 2025 27 $163.4M BL, CWAN, FIVN, SMWB, PD Q4 2024 28 $216.6M BL, FIVN, AXON, MSI, CWAN Q3 2024 25 $188.4M ZUO, CWAN, FIVN, NABL, MSI Q2 2024 29 $171.9M ZUO, NABL, SWI, EME, WKME Q1 2024 26 $129.9M ZUO, EME, SWI, ALKT, DELL