Westerly Capital Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Westerly Capital Management, LLC reported 40 stock positions worth $332.5 million. Its top holding was Udemy (UDMY) at 7.0% of the portfolio, followed by Viavi Solutions (VIAV, 6.2%) and Arteris (AIP, 6.0%). Compared with Q3 2025, it opened 7 new positions, sold out of 6, added to 19 and reduced 9. The biggest buy was a new position in Nike Class B (NKE) and the biggest sale an exit from Pros (PRO).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0001546172
- Portfolio Value
- $332.5M (Q4 2025)
- SEC Filing
- 0002073679-26-000027 ↗ filed Feb 17, 2026
Holdings Value
Holdings 40 stocks · $332.5M
| UDMY Udemy Inc. | 7.04% | 4,000,000 | $23.4M | Add +76.6% |
| VIAV Viavi Solutions Inc. | 6.16% | 1,150,000 | $20.5M | Reduce -42.5% |
| AIP Arteris Inc. | 6.04% | 1,295,000 | $20.1M | Reduce -9.1% |
| HDSN Hudson Technologies Inc. | 5.25% | 2,550,000 | $17.5M | Add +34.9% |
| MRVL Marvell Technology Inc. | 5.11% | 200,000 | $17.0M | Add +11.1% |
| ESTC Elastic NV | 4.99% | 220,000 | $16.6M | Add +175.0% |
| BE Bloom Energy Corp. Class A | 3.92% | 150,000 | $13.0M | No change |
| FRSH Freshworks Inc. Class A | 3.87% | 1,050,000 | $12.9M | Add +8.3% |
| NKE Nike Inc. Class B | 3.83% | 200,000 | $12.7M | New |
| HIPO Hippo Holdings Inc. | 3.80% | 420,000 | $12.6M | Add +24.3% |
| MTRX Matrix Service Co. | 3.48% | 988,000 | $11.6M | Reduce -10.2% |
| CGNT Cognyte Software Ltd. | 3.27% | 1,155,000 | $10.9M | Add +5.0% |
| TAC Transalta Corp. | 3.06% | 805,000 | $10.2M | Reduce -10.6% |
| NXDR Nextdoor Holdings Inc. | 2.84% | 4,500,000 | $9.4M | Add +1.1% |
| NOK Nokia Corp.-Spon ADR | 2.63% | 1,350,000 | $8.7M | New |
| FLR Fluor Corp. | 2.38% | 200,000 | $7.9M | Add +14.3% |
| COUR Coursera Inc. | 2.21% | 1,000,000 | $7.4M | Add +66.7% |
| TDC Teradata Corp. | 2.06% | 225,000 | $6.8M | Reduce -25.0% |
| BIDU Baidu Inc. - Spon ADR | 1.97% | 50,000 | $6.5M | Reduce -39.8% |
| ANGI Angi Inc. | 1.94% | 500,000 | $6.5M | Add +222.6% |
| LUMN Lumen Technologies Inc. | 1.87% | 800,000 | $6.2M | Reduce -77.1% |
| ADTN Adtran Holdings Inc. | 1.83% | 700,000 | $6.1M | Reduce -23.9% |
| AMBA Ambarella Inc. | 1.81% | 85,000 | $6.0M | Add +88.9% |
| AMPL Amplitude Inc. Class A | 1.74% | 500,000 | $5.8M | Add +42.9% |
| PD Pagerduty Inc. | 1.72% | 437,000 | $5.7M | Add +2085.0% |
| ENPH Enphase Energy Inc. | 1.69% | 175,000 | $5.6M | New |
| GLW Corning Inc. | 1.58% | 60,000 | $5.3M | Add +50.0% |
| BL Blackline Inc. | 1.50% | 90,000 | $5.0M | New |
| SNAP Snap Inc. Class A | 1.46% | 600,000 | $4.8M | Reduce -60.0% |
| UNF Unifirst Corp. | 1.45% | 25,000 | $4.8M | New |
| FSLR First Solar Inc. | 1.26% | 16,000 | $4.2M | No change |
| CGNX Cognex Corp. | 1.08% | 100,000 | $3.6M | Add +17.6% |
| ASAN Asana Inc. Class A | 1.03% | 250,000 | $3.4M | New |
| NWPX NWPX Infrastructure Inc. | 0.94% | 50,000 | $3.1M | No change |
| SCOR Comscore Inc. | 0.92% | 470,000 | $3.1M | Add +17.5% |
| SPSC SPS Commerce Inc. | 0.80% | 30,000 | $2.7M | New |
| HHS Harte-Hanks Inc. | 0.57% | 627,000 | $1.9M | Add +1.3% |
| ORN Orion Group Holdings Inc. | 0.45% | 150,000 | $1.5M | Add +500.0% |
| GENI Genius Sports Ltd. | 0.33% | 100,000 | $1.1M | No change |
| CSGS CSG Systems Intl Inc. | 0.12% | 5,000 | $383K | No change |
Options reported separately and not counted above: INVESCO QQQ TR puts ($122.9M).
Portfolio Sells Q3 2025 → Q4 2025
| PRO Pros Holdings Inc. | Sold out | 0.00% | −6.90 |
| LUMN Lumen Technologies Inc. | Reduce -77.1% | 1.87% | −4.93 |
| SNAP Snap Inc. Class A | Reduce -60.0% | 1.46% | −2.21 |
| VIAV Viavi Solutions Inc. | Reduce -42.5% | 6.16% | −1.89 |
| POWI Power Integrations Inc. | Sold out | 0.00% | −1.53 |
| BIDU Baidu Inc. - Spon ADR | Reduce -39.8% | 1.97% | −1.50 |
| GTLB Gitlab Inc. Class A | Sold out | 0.00% | −1.14 |
| MTRX Matrix Service Co. | Reduce -10.2% | 3.48% | −1.09 |
| ADTN Adtran Holdings Inc. | Reduce -23.9% | 1.83% | −0.91 |
| TAC Transalta Corp. | Reduce -10.6% | 3.06% | −0.84 |
| BILL Bill Holdings Inc. | Sold out | 0.00% | −0.50 |
| CEVA Ceva Inc. | Sold out | 0.00% | −0.23 |
| VECO Veeco Instruments Inc. | Sold out | 0.00% | −0.10 |
| TDC Teradata Corp. | Reduce -25.0% | 2.06% | +0.01 |
| AIP Arteris Inc. | Reduce -9.1% | 6.04% | +1.47 |
Portfolio Buys Q3 2025 → Q4 2025
| NKE Nike Inc. Class B | New | 3.83% | +3.83 |
| ESTC Elastic NV | Add +175.0% | 4.99% | +2.85 |
| NOK Nokia Corp.-Spon ADR | New | 2.63% | +2.63 |
| UDMY Udemy Inc. | Add +76.6% | 7.04% | +2.00 |
| ENPH Enphase Energy Inc. | New | 1.69% | +1.69 |
| PD Pagerduty Inc. | Add +2085.0% | 1.72% | +1.62 |
| BL Blackline Inc. | New | 1.50% | +1.50 |
| UNF Unifirst Corp. | New | 1.45% | +1.45 |
| ANGI Angi Inc. | Add +222.6% | 1.94% | +1.15 |
| ASAN Asana Inc. Class A | New | 1.03% | +1.03 |
| SPSC SPS Commerce Inc. | New | 0.80% | +0.80 |
| AMBA Ambarella Inc. | Add +88.9% | 1.81% | +0.63 |
| AMPL Amplitude Inc. Class A | Add +42.9% | 1.74% | +0.55 |
| GLW Corning Inc. | Add +50.0% | 1.58% | +0.54 |
| ORN Orion Group Holdings Inc. | Add +500.0% | 0.45% | +0.38 |
| CGNT Cognyte Software Ltd. | Add +5.0% | 3.27% | +0.33 |
| MRVL Marvell Technology Inc. | Add +11.1% | 5.11% | +0.31 |
| FRSH Freshworks Inc. Class A | Add +8.3% | 3.87% | +0.25 |
| FLR Fluor Corp. | Add +14.3% | 2.38% | +0.05 |
| COUR Coursera Inc. | Add +66.7% | 2.21% | −0.02 |
| HIPO Hippo Holdings Inc. | Add +24.3% | 3.80% | −0.08 |
| NXDR Nextdoor Holdings Inc. | Add +1.1% | 2.84% | −0.11 |
| CGNX Cognex Corp. | Add +17.6% | 1.08% | −0.14 |
| HHS Harte-Hanks Inc. | Add +1.3% | 0.57% | −0.16 |
| SCOR Comscore Inc. | Add +17.5% | 0.92% | −0.19 |
| HDSN Hudson Technologies Inc. | Add +34.9% | 5.25% | −0.70 |
Options Activity Q3 2025 → Q4 2025
| INVESCO QQQ TR | put | Reduce -63.6% | 200,000 | $122.9M |
| VIAVI SOLUTIONS INC | call | Sold out | 900,000 | $1.3Mbefore exit |
| FRESHWORKS INC | call | Sold out | 400,000 | $300Kbefore exit |
| IONQ INC | put | Sold out | 10,000 | $56Kbefore exit |
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 |