Shannon River Fund Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Shannon River Fund Management LLC reported 26 stock positions worth $637.5 million. Its top holding was Tower Semiconductor (TSEM) at 11.1% of the portfolio, followed by Pegasystems (PEGA, 9.7%) and Unity Software (U, 7.4%). Compared with Q3 2025, it opened 12 new positions, sold out of 6, added to 3 and reduced 9. The biggest buy was a new position in Unity Software (U) and the biggest sale Wix.com (WIX, shares −86%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001301050
- Portfolio Value
- $637.5M (Q4 2025)
- SEC Filing
- 0001013594-26-000239 ↗ filed Feb 17, 2026
Holdings Value
Holdings 26 stocks · $637.5M
| TSEM Tower Semiconductor Ltd. | 11.10% | 602,804 | $70.8M | Reduce -37.3% |
| PEGA Pegasystems Inc. | 9.73% | 1,038,832 | $62.0M | Reduce -24.9% |
| U Unity Software Inc. | 7.38% | 1,065,452 | $47.1M | New |
| LYV Live Nation Entertainment Inc. | 5.71% | 255,433 | $36.4M | New |
| MRVL Marvell Technology Inc. | 5.03% | 377,684 | $32.1M | Reduce -10.8% |
| EXTR Extreme Networks Inc. | 4.97% | 1,904,528 | $31.7M | New |
| CLS Celestica Inc. | 4.97% | 107,130 | $31.7M | New |
| COHR Coherent Corp. | 4.86% | 167,918 | $31.0M | Add +88.1% |
| CWAN Clearwater Analytics HDS-A | 4.68% | 1,236,412 | $29.8M | Add +82.4% |
| NCNO Ncino Inc. | 4.57% | 1,135,922 | $29.1M | Reduce -28.1% |
| ALAB Astera Labs Inc. | 4.37% | 167,641 | $27.9M | New |
| GWRE Guidewire Software Inc. | 3.97% | 126,057 | $25.3M | No change |
| KVYO Klaviyo Inc. Class A | 3.72% | 729,703 | $23.7M | New |
| CRDO Credo Technology Group Holdi | 3.38% | 149,966 | $21.6M | Add +73.2% |
| AMBA Ambarella Inc. | 3.35% | 301,093 | $21.3M | New |
| FLEX Flex Ltd. | 2.97% | 313,273 | $18.9M | Reduce -63.1% |
| IDCC Interdigital Inc. | 2.67% | 53,490 | $17.0M | Reduce -70.1% |
| LGN Legence Corp. Class A | 2.26% | 334,863 | $14.4M | New |
| AXON Axon Enterprise Inc. | 1.85% | 20,716 | $11.8M | New |
| HNGE Hinge Health Inc. Class A | 1.70% | 233,354 | $10.8M | New |
| DOCU Docusign Inc. | 1.68% | 156,813 | $10.7M | Reduce -44.7% |
| CCC CCC Intelligent Solutions Ho | 1.34% | 1,075,546 | $8.6M | No change |
| QCOM Qualcomm Inc. | 1.24% | 46,212 | $7.9M | New |
| MU Micron Technology Inc. | 0.91% | 20,400 | $5.8M | New |
| PLTR Palantir Technologies Inc. Class A | 0.81% | 28,965 | $5.1M | Reduce -49.3% |
| WIX Wix.com Ltd. | 0.76% | 46,731 | $4.9M | Reduce -85.8% |
Portfolio Sells Q3 2025 → Q4 2025
| WIX Wix.com Ltd. | Reduce -85.8% | 0.76% | −8.68 |
| IDCC Interdigital Inc. | Reduce -70.1% | 2.67% | −7.26 |
| FROG Jfrog Ltd. | Sold out | 0.00% | −6.58 |
| FORM Formfactor Inc. | Sold out | 0.00% | −5.68 |
| FLEX Flex Ltd. | Reduce -63.1% | 2.97% | −4.96 |
| CLH Clean Harbors Inc. | Sold out | 0.00% | −4.33 |
| PEGA Pegasystems Inc. | Reduce -24.9% | 9.73% | −3.08 |
| NCNO Ncino Inc. | Reduce -28.1% | 4.57% | −2.32 |
| LRN Stride Inc. | Sold out | 0.00% | −1.99 |
| DOCU Docusign Inc. | Reduce -44.7% | 1.68% | −1.61 |
| PLTR Palantir Technologies Inc. Class A | Reduce -49.3% | 0.81% | −0.87 |
| MRVL Marvell Technology Inc. | Reduce -10.8% | 5.03% | −0.70 |
| TSM Taiwan Semiconductor-SP ADR | Sold out | 0.00% | −0.39 |
| BLZE Backblaze Inc. Class A | Sold out | 0.00% | −0.34 |
| TSEM Tower Semiconductor Ltd. | Reduce -37.3% | 11.10% | −0.09 |
Portfolio Buys Q3 2025 → Q4 2025
| U Unity Software Inc. | New | 7.38% | +7.38 |
| LYV Live Nation Entertainment Inc. | New | 5.71% | +5.71 |
| EXTR Extreme Networks Inc. | New | 4.97% | +4.97 |
| CLS Celestica Inc. | New | 4.97% | +4.97 |
| ALAB Astera Labs Inc. | New | 4.37% | +4.37 |
| KVYO Klaviyo Inc. Class A | New | 3.72% | +3.72 |
| AMBA Ambarella Inc. | New | 3.35% | +3.35 |
| COHR Coherent Corp. | Add +88.1% | 4.86% | +3.31 |
| CWAN Clearwater Analytics HDS-A | Add +82.4% | 4.68% | +2.71 |
| LGN Legence Corp. Class A | New | 2.26% | +2.26 |
| AXON Axon Enterprise Inc. | New | 1.85% | +1.85 |
| HNGE Hinge Health Inc. Class A | New | 1.70% | +1.70 |
| CRDO Credo Technology Group Holdi | Add +73.2% | 3.38% | +1.36 |
| QCOM Qualcomm Inc. | New | 1.24% | +1.24 |
| MU Micron Technology Inc. | New | 0.91% | +0.91 |
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 |