Westerly Capital Management, LLC In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Westerly Capital Management, LLC reported 39 stock positions worth $315.2 million . Its top holding was Viavi Solutions (VIAV) at 8.1% of the portfolio, followed by Pros (PRO, 6.9% ) and Lumen Technologies (LUMN, 6.8% ). Compared with Q2 2025, it opened 10 new positions, sold out of 9, added to 15 and reduced 12. The biggest buy was a new position in Udemy (UDMY) and the biggest sale an exit from Affirm (AFRM).
Location SAN FRANCISCO, CA
CIK 0001546172
Portfolio Value $315.2M (Q3 2025) Holdings 39 stocks · $315.2M 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 Q2 2025 VIAV Viavi Solutions Inc. 2,000,000 $25.4M Reduce -8.1% PRO Pros Holdings Inc. 949,750 $21.8M Reduce -4.9% LUMN Lumen Technologies Inc. 3,500,000 $21.4M Add +37.3% HDSN Hudson Technologies Inc. 1,890,000 $18.8M Reduce -5.5% UDMY Udemy Inc. 2,265,000 $15.9M New MRVL Marvell Technology Inc. 180,000 $15.1M Add +100.0% AIP Arteris Inc. 1,425,000 $14.4M Add +109.6% MTRX Matrix Service Co. 1,100,000 $14.4M Add +34.1% BE Bloom Energy Corp. Class A 150,000 $12.7M New TAC Transalta Corp. 900,000 $12.3M Add +17.3% HIPO Hippo Holdings Inc. 338,000 $12.2M Add +3.7% SNAP Snap Inc. Class A 1,500,000 $11.6M New FRSH Freshworks Inc. Class A 970,000 $11.4M Add +92.1% BIDU Baidu Inc. - Spon ADR 83,000 $10.9M Add +38.3% NXDR Nextdoor Holdings Inc. 4,450,000 $9.3M Add +25.4% CGNT Cognyte Software Ltd. 1,100,000 $9.2M Add +29.4% ADTN Adtran Holdings Inc. 920,220 $8.6M Reduce -5.6% FLR Fluor Corp. 175,000 $7.4M Add +16.7% COUR Coursera Inc. 600,000 $7.0M Add +110.5% ESTC Elastic NV 80,000 $6.8M New TDC Teradata Corp. 300,000 $6.5M Add +20.0% POWI Power Integrations Inc. 120,000 $4.8M Add +140.0% CGNX Cognex Corp. 85,000 $3.9M Add +41.7% AMPL Amplitude Inc. Class A 350,000 $3.8M Reduce -12.5% AMBA Ambarella Inc. 45,000 $3.7M Reduce -68.5% GTLB Gitlab Inc. Class A 80,000 $3.6M New FSLR First Solar Inc. 16,000 $3.5M New SCOR Comscore Inc. 400,000 $3.5M No change GLW Corning Inc. 40,000 $3.3M Reduce -68.0% NWPX NWPX Infrastructure Inc. 50,000 $2.6M Reduce -9.1% ANGI Angi Inc. 155,000 $2.5M Reduce -58.1% HHS Harte-Hanks Inc. 619,000 $2.3M No change BILL Bill Holdings Inc. 30,000 $1.6M New GENI Genius Sports Ltd. 100,000 $1.2M Reduce -20.0% CEVA Ceva Inc. 27,000 $713K Reduce -85.0% PD Pagerduty Inc. 20,000 $330K New CSGS CSG Systems Intl Inc. 5,000 $322K Reduce -75.0% VECO Veeco Instruments Inc. 10,000 $304K New ORN Orion Group Holdings Inc. 25,000 $208K New
Options reported separately and not counted above: INVESCO QQQ TR puts ($2.3M), VIAVI SOLUTIONS INC calls ($1.3M), FRESHWORKS INC calls ($300K), IONQ INC puts ($56K).
Portfolio Sells Q2 2025 → Q3 2025 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 Q2 2025 % Of Portfolio Change To Portfolio ▲ AFRM Affirm Holdings Inc. Sold out 0.00% −4.54 CIEN Ciena Corp. Sold out 0.00% −3.79 AMBA Ambarella Inc. Reduce -68.5% 1.18% −2.83 VMEO Vimeo Inc. Sold out 0.00% −2.57 MGM MGM Resorts International Sold out 0.00% −1.75 GLW Corning Inc. Reduce -68.0% 1.04% −1.74 ANGI Angi Inc. Reduce -58.1% 0.80% −1.59 CEVA Ceva Inc. Reduce -85.0% 0.23% −1.45 VIAV Viavi Solutions Inc. Reduce -8.1% 8.05% −1.23 ADTN Adtran Holdings Inc. Reduce -5.6% 2.74% −0.97 TER Teradyne Inc. Sold out 0.00% −0.95 HDSN Hudson Technologies Inc. Reduce -5.5% 5.95% −0.93 AMPL Amplitude Inc. Class A Reduce -12.5% 1.19% −0.91 CSGS CSG Systems Intl Inc. Reduce -75.0% 0.10% −0.45 ACTG Acacia Research Corp. Sold out 0.00% −0.26 GTBIF Green Thumb Industries Inc. Sold out 0.00% −0.19 GENI Genius Sports Ltd. Reduce -20.0% 0.39% −0.16 ASAN Asana Inc. Class A Sold out 0.00% −0.14 NWPX NWPX Infrastructure Inc. Reduce -9.1% 0.84% −0.12 VRNOF Verano Holdings Corp. Sold out 0.00% −0.06 PRO Pros Holdings Inc. Reduce -4.9% 6.90% +0.27
Portfolio Buys Q2 2025 → Q3 2025 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 Q2 2025 % Of Portfolio Change To Portfolio ▼ UDMY Udemy Inc. New 5.04% +5.04 BE Bloom Energy Corp. Class A New 4.02% +4.02 SNAP Snap Inc. Class A New 3.67% +3.67 ESTC Elastic NV New 2.14% +2.14 LUMN Lumen Technologies Inc. Add +37.3% 6.79% +2.06 MRVL Marvell Technology Inc. Add +100.0% 4.80% +1.85 AIP Arteris Inc. Add +109.6% 4.57% +1.82 BIDU Baidu Inc. - Spon ADR Add +38.3% 3.47% +1.29 COUR Coursera Inc. Add +110.5% 2.23% +1.17 GTLB Gitlab Inc. Class A New 1.14% +1.14 FSLR First Solar Inc. New 1.12% +1.12 BILL Bill Holdings Inc. New 0.50% +0.50 NXDR Nextdoor Holdings Inc. Add +25.4% 2.95% +0.45 FRSH Freshworks Inc. Class A Add +92.1% 3.62% +0.43 CGNX Cognex Corp. Add +41.7% 1.22% +0.41 TAC Transalta Corp. Add +17.3% 3.90% +0.39 POWI Power Integrations Inc. Add +140.0% 1.53% +0.35 PD Pagerduty Inc. New 0.10% +0.10 VECO Veeco Instruments Inc. New 0.10% +0.10 ORN Orion Group Holdings Inc. New 0.07% +0.07 HIPO Hippo Holdings Inc. Add +3.7% 3.88% +0.02 MTRX Matrix Service Co. Add +34.1% 4.56% −0.13 TDC Teradata Corp. Add +20.0% 2.05% −0.32 CGNT Cognyte Software Ltd. Add +29.4% 2.93% −0.40 FLR Fluor Corp. Add +16.7% 2.34% −0.92
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ HUDSON TECHNOLOGIES INC call Sold out 600,000 $4.8Mbefore exit INVESCO QQQ TR put Add +1000.0% 550,000 $2.3M AMBARELLA INC call Sold out 25,000 $1.5Mbefore exit VIAVI SOLUTIONS INC call Add +414.3% 900,000 $1.3M FRESHWORKS INC call New 400,000 $300K IONQ INC put New 10,000 $56K
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 46 $541.8M INVESCO QQQ TR, COUR, VIAV, ANET, ASAN Q1 2026 36 $324.5M UDMY, MRVL, HDSN, CSCO, LUMN Q4 2025 40 $332.5M UDMY, VIAV, AIP, HDSN, MRVL Q3 2025 39 $315.2M VIAV, PRO, LUMN, HDSN, UDMY Q2 2025 38 $236.0M VIAV, HDSN, PRO, LUMN, MTRX Q1 2025 37 $208.8M VIAV, LUMN, MTRX, CGNT, BIDU Q4 2024 44 $216.6M INVESCO QQQ TR, ASAN, VIAV, MTRX, HIPO Q3 2024 40 $176.1M ASAN, MTRX, HIPO, VIAV, ADTN Q2 2024 40 $184.1M ASAN, MTRX, MRVL, VIAV, HIPO Q1 2024 42 $191.7M HIPO, MTRX, ASAN, AMBA, MRVL