SEC 13F Intelligence

Managers / Q4 2025 · view latest →

North Growth Management Ltd.

CIK 0001745796 · SUITE 830 - 505 BURRARD ST., BOX 56, VANCOUVER, A1, V7X1M4 · 6046885440

Reported Value
$639M
Q4 2025
Positions
47
Filings on Record
30
2019–present window
Filed
Feb 13, 2026
original filing

Summary

North Growth Management Ltd. reported $639M in U.S.-listed holdings across 47 positions for Q4 2025.

Its largest position, CIEN, represents 9.0% of the portfolio.

The book was largely unchanged from Q3 2025.

Portfolio Metrics

Turnover
+2.0%
vs prior filed quarter
Top-10 Concentration
+46.1%
share of reported value
Largest Position
+9.0%
Ciena

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $374MQ1 ’19Q2 ’19: $404MQ3 ’19: $414MQ4 ’19: $446MQ1 ’20: $356MQ1 ’20Q2 ’20: $417MQ3 ’20: $455MQ4 ’20: $488MQ1 ’21: $564MQ1 ’21Q2 ’21: $615MQ3 ’21: $567MQ4 ’21: $602MQ1 ’22: $541MQ1 ’22Q2 ’22: $431MQ3 ’22: $401MQ4 ’22: $440MQ1 ’23: $469MQ1 ’23Q2 ’23: $487MQ3 ’23: $451MQ4 ’23: $469MQ1 ’24: $524MQ1 ’24Q2 ’24: $506MQ3 ’24: $537MQ4 ’24: $527MQ1 ’25: $474MQ1 ’25Q2 ’25: $533MQ3 ’25: $574MQ4 ’25: $639MQ1 ’26: $653MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 100.0%
  • Common Stock · 100.0% · $639M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AZOAUTOZONEADDED+1.0K3.0K+$237,000$10M
ZYMEZYMEWORKS INCTRIMMED−37.0K45.0K−$226,000$1M
LITELUMENTUMTRIMMED−57.0K95.0K+$10M$35M
NKENIKE CL BADDED+31.0K116.0K+$1M$7M
TXNTEXAS INSTRUMENTSADDED+16.0K73.0K+$2M$13M
COHRCOHERENTTRIMMED−55.0K145.0K+$5M$27M
ITGRINTEGER HOLDINGSADDED+26.0K129.0K−$442,000$10M
CIENCIENATRIMMED−78.0K247.0K+$10M$58M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

47 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CIENCIENAhistory →COM9.03%$58M247.0K
2JBLJABILhistory →COM7.29%$47M204.0K
3LITELUMENTUMhistory →COM5.46%$35M95.0K
4AMATAPPLIED MATERIALShistory →COM5.34%$34M133.0K
5COHRCOHERENThistory →COM4.20%$27M145.0K
6EATBRINKER INTERNATIONALhistory →COM3.13%$20M140.0K
7SGISOMNIGROUP INTERNATIONALhistory →COM2.97%$19M213.0K
8TPRTAPESTRYhistory →COM2.93%$19M147.0K
9MSIMOTOROLA SOLUTIONShistory →COM2.90%$19M48.0K
10JCIJOHNSON CONTROLShistory →COM2.88%$18M153.0K
11BKNGBOOKING HOLDINGShistory →COM2.85%$18M3.0K
12NVDANVIDIAhistory →COM2.41%$15M83.0K
13ANFABERCROMBIE & FITCHhistory →COM2.36%$15M120.0K
14EAELECTRONIC ARTS INChistory →COM2.32%$15M73.0K
15WBDWARNER BROS DISCOVERY INChistory →COM2.27%$14M503.0K
16ULTAULTA BEAUTYhistory →COM2.19%$14M23.0K
17TMOTHERMO FISHER SCIENTIFIChistory →COM2.11%$13M23.0K
18TXNTEXAS INSTRUMENTShistory →COM1.98%$13M73.0K
19JJACOBS SOLUTIONShistory →COM1.97%$13M95.0K
20GPNGLOBAL PAYMENTShistory →COM1.85%$12M153.0K
21IQVIQVIAhistory →COM1.78%$11M51.0K
22WTSWATTS WATERhistory →COM1.74%$11M40.0K
23WSTWEST PHARMACEUTICAL SERVICEShistory →COM1.69%$11M39.0K
24HPQHPhistory →COM1.66%$11M476.0K
25NVRNVRhistory →COM1.62%$10M1.0K
26ITGRINTEGER HOLDINGShistory →COM1.59%$10M129.0K
27AZOAUTOZONEhistory →COM1.58%$10M3.0K
28QCOMQUALCOMMhistory →COM1.53%$10M57.0K
29INMDINMODEhistory →COM1.52%$10M662.0K
30AAPLAPPLEhistory →COM1.45%$9M34.0K
31MSFTMICROSOFThistory →COM1.43%$9M19.0K
32CROXCROCShistory →COM1.38%$9M103.0K
33URIUNITED RENTALShistory →COM1.37%$9M11.0K
34FDXFEDEX CORPhistory →COM1.30%$8M29.0K
35ARHSARHAUShistory →COM1.23%$8M702.0K
36ELVELEVANCE HEALTHhistory →COM1.22%$8M22.0K
37NKENIKE CL Bhistory →COM1.16%$7M116.0K
38ALGNALIGN TECHNOLOGYhistory →COM1.11%$7M45.0K
39BIIBBIOGENCOM0.94%$6M34.0K
40ATKRATKORECOM0.93%$6M94.0K
41FBINFORTUNE BRANDSCOM0.89%$6M114.0K
42ODFLOLD DOMINION FREIGHT LINECOM0.76%$5M31.0K
43FSLRFIRST SOLAR INCCOM0.61%$4M15.0K
44AMTMAMENTUM HOLDINGSCOM0.44%$3M98.0K
45MBCMASTERBRANDCOM0.38%$2M218.0K
46ZYMEZYMEWORKS INCCOM0.19%$1M45.0K
47LULULULULEMON ATHLETICACOM0.04%$273,0001.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$653M47Apr 24, 202613F-HRchanges · EDGAR ↗
Q4 2025$639M47Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$574M47Oct 22, 202513F-HRchanges · EDGAR ↗
Q2 2025$533M47Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$474M47Apr 22, 202513F-HRchanges · EDGAR ↗
Q4 2024$527M46Jan 28, 202513F-HRchanges · EDGAR ↗
Q3 2024$537M48Nov 5, 202413F-HRchanges · EDGAR ↗
Q2 2024$506M46Jul 25, 202413F-HRchanges · EDGAR ↗
Q1 2024$524M47Apr 30, 202413F-HRchanges · EDGAR ↗
Q4 2023$469M47Feb 7, 202413F-HRchanges · EDGAR ↗
Q3 2023$451M49Oct 19, 202313F-HRchanges · EDGAR ↗
Q2 2023$487M48Jul 20, 202313F-HRchanges · EDGAR ↗
Q1 2023$469M46May 3, 202313F-HRchanges · EDGAR ↗
Q4 2022$440M45Feb 9, 202313F-HRchanges · EDGAR ↗
Q3 2022$401M46Oct 17, 202213F-HRchanges · EDGAR ↗
Q2 2022$431M47Jul 18, 202213F-HRchanges · EDGAR ↗
Q1 2022$541M51Apr 14, 202213F-HRchanges · EDGAR ↗
Q4 2021$602M49Feb 7, 202213F-HRchanges · EDGAR ↗
Q3 2021$567M50Oct 14, 202113F-HRchanges · EDGAR ↗
Q2 2021$615M50Jul 15, 202113F-HRchanges · EDGAR ↗
Q1 2021$564M50May 7, 202113F-HRchanges · EDGAR ↗
Q4 2020$488M47Feb 10, 202113F-HRchanges · EDGAR ↗
Q3 2020$455M47Nov 4, 202013F-HRchanges · EDGAR ↗
Q2 2020$417M48Aug 10, 202013F-HRchanges · EDGAR ↗
Q1 2020$356M47May 8, 202013F-HRchanges · EDGAR ↗
Q4 2019$446M45Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$414M46Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$404M46Aug 8, 201913F-HRchanges · EDGAR ↗
Q1 2019$374M42May 10, 2019RESTATEMENTchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.