Shannon River Fund Management LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Shannon River Fund Management LLC reported 22 stock positions worth $649.3 million. Its top holding was Pegasystems (PEGA) at 11.4% of the portfolio, followed by Flex (FLEX, 10.0%) and Tower Semiconductor (TSEM, 9.8%). Compared with Q1 2025, it opened 10 new positions, sold out of 2, added to 9 and reduced 3. The biggest buy was a new position in Coherent (COHR) and the biggest sale an exit from Qorvo (QRVO).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001301050
- Portfolio Value
- $649.3M (Q2 2025)
- SEC Filing
- 0001013594-25-000992 ↗ filed Aug 13, 2025
Holdings Value
Holdings 22 stocks · $649.3M
| PEGA Pegasystems Inc. | 11.44% | 1,372,565 | $74.3M | Add +116.2% |
| FLEX Flex Ltd. | 10.01% | 1,301,916 | $65.0M | Add +28.4% |
| TSEM Tower Semiconductor Ltd. | 9.80% | 1,467,504 | $63.6M | Add +23.0% |
| MRVL Marvell Technology Inc. | 8.47% | 710,174 | $55.0M | Add +114.5% |
| IDCC Interdigital Inc. | 8.17% | 236,571 | $53.0M | Add +5.1% |
| COHR Coherent Corp. | 6.12% | 445,440 | $39.7M | New |
| WIX Wix.com Ltd. | 5.67% | 232,248 | $36.8M | Add +96.5% |
| GWRE Guidewire Software Inc. | 5.46% | 150,708 | $35.5M | Add +3.0% |
| NCNO Ncino Inc. | 5.34% | 1,239,033 | $34.7M | New |
| DOCU Docusign Inc. | 3.91% | 325,915 | $25.4M | New |
| AFRM Affirm Holdings Inc. | 3.80% | 356,563 | $24.7M | New |
| CART Maplebear Inc. | 3.16% | 453,988 | $20.5M | Add +9.3% |
| PLTR Palantir Technologies Inc. Class A | 2.90% | 138,008 | $18.8M | Reduce -29.0% |
| CRDO Credo Technology Group Holdi | 2.71% | 190,320 | $17.6M | New |
| ESTC Elastic NV | 2.39% | 184,355 | $15.5M | Reduce -48.6% |
| CWAN Clearwater Analytics HDS-A | 2.25% | 667,281 | $14.6M | Reduce -51.2% |
| MIR Mirion Technologies Inc. | 1.84% | 555,377 | $12.0M | New |
| CCC CCC Intelligent Solutions Ho | 1.56% | 1,077,802 | $10.1M | New |
| U Unity Software Inc. | 1.51% | 405,534 | $9.8M | New |
| FROG Jfrog Ltd. | 1.47% | 216,784 | $9.5M | New |
| NATL NCR Atleos Corp. | 1.35% | 307,366 | $8.8M | Add +5.1% |
| PGY Pagaya Technologies Ltd. Class A | 0.67% | 204,171 | $4.4M | New |
Options reported separately and not counted above: IWM puts ($64.7M), PEGA puts ($37.9M).
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
| COHR Coherent Corp. | New | 6.12% | +6.12 |
| NCNO Ncino Inc. | New | 5.34% | +5.34 |
| DOCU Docusign Inc. | New | 3.91% | +3.91 |
| AFRM Affirm Holdings Inc. | New | 3.80% | +3.80 |
| MRVL Marvell Technology Inc. | Add +114.5% | 8.47% | +3.15 |
| CRDO Credo Technology Group Holdi | New | 2.71% | +2.71 |
| MIR Mirion Technologies Inc. | New | 1.84% | +1.84 |
| CCC CCC Intelligent Solutions Ho | New | 1.56% | +1.56 |
| U Unity Software Inc. | New | 1.51% | +1.51 |
| FROG Jfrog Ltd. | New | 1.47% | +1.47 |
| FLEX Flex Ltd. | Add +28.4% | 10.01% | +1.26 |
| PGY Pagaya Technologies Ltd. Class A | New | 0.67% | +0.67 |
| WIX Wix.com Ltd. | Add +96.5% | 5.67% | +0.63 |
| PEGA Pegasystems Inc. | Add +116.2% | 11.44% | −0.07 |
| NATL NCR Atleos Corp. | Add +5.1% | 1.35% | −0.66 |
| CART Maplebear Inc. | Add +9.3% | 3.16% | −1.16 |
| TSEM Tower Semiconductor Ltd. | Add +23.0% | 9.80% | −1.30 |
| GWRE Guidewire Software Inc. | Add +3.0% | 5.46% | −1.69 |
| IDCC Interdigital Inc. | Add +5.1% | 8.17% | −3.97 |
Options Activity Q1 2025 → Q2 2025
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 | 37 | $1.1B | TSEM, FLEX, AMD, IDCC, CLS |
| Q1 2026 | 28 | $524.1M | TSEM, MRVL, LYV, ABNB, RMBS |
| Q4 2025 | 26 | $637.5M | TSEM, PEGA, U, LYV, MRVL |
| Q3 2025 | 20 | $621.2M | PEGA, TSEM, IDCC, WIX, FLEX |
| Q2 2025 | 22 | $649.3M | PEGA, FLEX, TSEM, MRVL, IDCC |
| Q1 2025 | 14 | $383.2M | IDCC, PEGA, TSEM, CWAN, FLEX |
| Q4 2024 | 17 | $565.7M | PEGA, IDCC, MRVL, WIX LTD (WIX 0 08/15/25), TSEM |
| Q3 2024 | 18 | $661.7M | IDCC, CWAN, TSEM, PEGA, MRVL |
| Q2 2024 | 21 | $581.4M | TSEM, CGNX, IDCC, NVDA, WIX |
| Q1 2024 | 18 | $449.1M | TSEM, WIX, CGNX, NVDA, IDCC |