# AMERICAN CAPITAL MANAGEMENT INC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1320168. Source: https://holderbook.com/funds/1320168-american-capital-management-inc/

- Reported value: $2.2B
- Positions: 80
- Weight of the ten largest: 43.9%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $195.4M | 572,934 | 8.8% | 2 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $112.1M | 729,885 | 5.0% | 31 |
| MEDPACE HLDGS INC | [MEDP](https://holderbook.com/stocks/MEDP/) | $111.3M | 210,217 | 5.0% | 26 |
| VARONIS SYS INC | [VRNS](https://holderbook.com/stocks/VRNS/) | $94.1M | 2,241,704 | 4.2% | 15 |
| RBC BEARINGS INC | [RBC](https://holderbook.com/stocks/RBC/) | $92.6M | 143,737 | 4.2% | 31 |
| IDEXX LABS INC | [IDXX](https://holderbook.com/stocks/IDXX/) | $85.3M | 162,110 | 3.8% | 31 |
| NCINO INC | [NCNO](https://holderbook.com/stocks/NCNO/) | $83.5M | 5,107,539 | 3.7% | 9 |
| AEROVIRONMENT INC | [AVAV](https://holderbook.com/stocks/AVAV/) | $69.7M | 422,518 | 3.1% | 31 |
| BIO-TECHNE CORP | [TECH](https://holderbook.com/stocks/TECH/) | $68.8M | 973,789 | 3.1% | 31 |
| SEI INVTS CO | [SEIC](https://holderbook.com/stocks/SEIC/) | $65.4M | 745,323 | 2.9% | 31 |
| COMMVAULT SYS INC | [CVLT](https://holderbook.com/stocks/CVLT/) | $62.5M | 440,931 | 2.8% | 31 |
| MERCURY SYS INC | [MRCY](https://holderbook.com/stocks/MRCY/) | $59.5M | 486,064 | 2.7% | 1 |
| NOVANTA INC | [NOVT](https://holderbook.com/stocks/NOVT/) | $58.8M | 362,271 | 2.6% | 4 |
| DYNATRACE INC | [DT](https://holderbook.com/stocks/DT/) | $58.5M | 1,332,429 | 2.6% | 2 |
| COGNYTE SOFTWARE LTD | [CGNT](https://holderbook.com/stocks/CGNT/) | $54.3M | 6,183,567 | 2.4% | 22 |
| GLOBUS MED INC | [GMED](https://holderbook.com/stocks/GMED/) | $51.6M | 653,072 | 2.3% | 7 |
| KRATOS DEFENSE & SEC SOLUTIO | [KTOS](https://holderbook.com/stocks/KTOS/) | $51.3M | 1,029,653 | 2.3% | 26 |
| MANHATTAN ASSOCIATES INC | [MANH](https://holderbook.com/stocks/MANH/) | $50.8M | 364,696 | 2.3% | 31 |
| PROTO LABS INC | [PRLB](https://holderbook.com/stocks/PRLB/) | $50.5M | 619,845 | 2.3% | 6 |
| REPLIGEN CORP | [RGEN](https://holderbook.com/stocks/RGEN/) | $49.3M | 361,055 | 2.2% | 31 |
| AAON INC | [AAON](https://holderbook.com/stocks/AAON/) | $47.6M | 375,178 | 2.1% | 4 |
| RESMED INC | [RMD](https://holderbook.com/stocks/RMD/) | $44.5M | 228,458 | 2.0% | 31 |
| GUIDEWIRE SOFTWARE INC | [GWRE](https://holderbook.com/stocks/GWRE/) | $40.5M | 328,983 | 1.8% | 29 |
| DORMAN PRODS INC | [DORM](https://holderbook.com/stocks/DORM/) | $38.8M | 284,244 | 1.7% | 31 |
| BADGER METER INC | [BMI](https://holderbook.com/stocks/BMI/) | $38.3M | 258,243 | 1.7% | 2 |
| VEEVA SYS INC | [VEEV](https://holderbook.com/stocks/VEEV/) | $34.9M | 196,848 | 1.6% | 31 |
| NEOGENOMICS INC | [NEO](https://holderbook.com/stocks/NEO/) | $32.6M | 2,237,707 | 1.5% | 6 |
| TYLER TECHNOLOGIES INC | [TYL](https://holderbook.com/stocks/TYL/) | $29.6M | 101,210 | 1.3% | 21 |
| VSE CORP | [VSEC](https://holderbook.com/stocks/VSEC/) | $29.5M | 128,934 | 1.3% | 5 |
| CERENCE INC | [CRNC](https://holderbook.com/stocks/CRNC/) | $27.3M | 2,407,398 | 1.2% | 19 |
| AZENTA INC | [AZTA](https://holderbook.com/stocks/AZTA/) | $27.1M | 1,061,490 | 1.2% | 21 |
| STAAR SURGICAL CO | [STAA](https://holderbook.com/stocks/STAA/) | $24.3M | 846,659 | 1.1% | 17 |
| TRADEWEB MKTS INC | [TW](https://holderbook.com/stocks/TW/) | $23.7M | 238,244 | 1.1% | 25 |
| IPG PHOTONICS CORP | [IPGP](https://holderbook.com/stocks/IPGP/) | $23.2M | 197,882 | 1.0% | 4 |
| ESCO TECHNOLOGIES INC | [ESE](https://holderbook.com/stocks/ESE/) | $22.9M | 65,312 | 1.0% | 2 |
| COSTAR GROUP INC | [CSGP](https://holderbook.com/stocks/CSGP/) | $20.5M | 725,143 | 0.9% | 31 |
| COGNEX CORP | [CGNX](https://holderbook.com/stocks/CGNX/) | $18.2M | 251,103 | 0.8% | 31 |
| MORNINGSTAR INC | [MORN](https://holderbook.com/stocks/MORN/) | $17.9M | 114,947 | 0.8% | 31 |
| DEXCOM INC | [DXCM](https://holderbook.com/stocks/DXCM/) | $15.8M | 235,152 | 0.7% | 26 |
| HENRY JACK & ASSOC INC | [JKHY](https://holderbook.com/stocks/JKHY/) | $13.8M | 99,930 | 0.6% | 31 |
| GENTEX CORP | [GNTX](https://holderbook.com/stocks/GNTX/) | $13.4M | 531,229 | 0.6% | 31 |
| NICE LTD | [NICE](https://holderbook.com/stocks/NICE/) | $12.4M | 136,644 | 0.6% | 31 |
| FACTSET RESH SYS INC | [FDS](https://holderbook.com/stocks/FDS/) | $9.4M | 40,986 | 0.4% | 31 |
| LIVERAMP HLDGS INC | [RAMP](https://holderbook.com/stocks/RAMP/) | $9.3M | 246,042 | 0.4% | 31 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $8.6M | 19,196 | 0.4% | 4 |
| MONOLITHIC PWR SYS INC | [MPWR](https://holderbook.com/stocks/MPWR/) | $8.2M | 5,897 | 0.4% | 31 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $7.9M | 86,235 | 0.4% | 31 |
| MERIT MED SYS INC | [MMSI](https://holderbook.com/stocks/MMSI/) | $7.3M | 104,967 | 0.3% | 31 |
| GRAHAM CORP | [GHM](https://holderbook.com/stocks/GHM/) | $6.4M | 52,050 | 0.3% | 31 |
| HAEMONETICS CORP MASS | [HAE](https://holderbook.com/stocks/HAE/) | $5.0M | 66,915 | 0.2% | 31 |
| KORNIT DIGITAL LTD | [KRNT](https://holderbook.com/stocks/KRNT/) | $4.6M | 282,976 | 0.2% | 31 |
| INSULET CORP | [PODD](https://holderbook.com/stocks/PODD/) | $4.5M | 29,455 | 0.2% | 11 |
| QUAKER HOUGHTON | [KWR](https://holderbook.com/stocks/KWR/) | $4.3M | 27,279 | 0.2% | 4 |
| SPS COMM INC | [SPSC](https://holderbook.com/stocks/SPSC/) | $4.2M | 73,958 | 0.2% | 27 |
| ALARM COM HLDGS INC | [ALRM](https://holderbook.com/stocks/ALRM/) | $3.2M | 68,544 | 0.1% | 31 |
| BALCHEM CORP | [BCPC](https://holderbook.com/stocks/BCPC/) | $2.7M | 16,067 | 0.1% | 2 |
| FRANKLIN ELEC INC | [FELE](https://holderbook.com/stocks/FELE/) | $2.4M | 22,000 | 0.1% | 31 |
| ISHARES TR | [SHY](https://holderbook.com/stocks/SHY/) | $2.1M | 25,524 | 0.1% | 2 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.8M | 2,425 | 0.1% | 28 |
| MACOM TECH SOLUTIONS HLDGS I | [MTSI](https://holderbook.com/stocks/MTSI/) | $1.4M | 3,626 | 0.1% | 2 |
| DESCARTES SYS GROUP INC | [DSGX](https://holderbook.com/stocks/DSGX/) | $1.4M | 19,605 | 0.1% | 7 |
| JFROG LTD | [FROG](https://holderbook.com/stocks/FROG/) | $1.2M | 13,479 | 0.1% | 6 |
| NEOGEN CORP | [NEOG](https://holderbook.com/stocks/NEOG/) | $1.2M | 133,457 | 0.1% | 13 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $1.1M | 21,496 | 0.1% | 1 |
| QUALYS INC | [QLYS](https://holderbook.com/stocks/QLYS/) | $979.6K | 7,125 | 0.0% | 31 |
| TRIMBLE INC | [TRMB](https://holderbook.com/stocks/TRMB/) | $972.4K | 19,000 | 0.0% | 31 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $949.1K | 8,702 | 0.0% | 1 |
| NOVANTA INC | [NOVTU](https://holderbook.com/stocks/NOVTU/) | $946.0K | 14,035 | 0.0% | 2 |
| ACI WORLDWIDE INC | [ACIW](https://holderbook.com/stocks/ACIW/) | $925.8K | 18,410 | 0.0% | 31 |
| ZEBRA TECHNOLOGIES CORPORATI | [ZBRA](https://holderbook.com/stocks/ZBRA/) | $868.8K | 3,300 | 0.0% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $810.2K | 2,800 | 0.0% | 14 |
| ISHARES TR | [MBB](https://holderbook.com/stocks/MBB/) | $773.7K | 8,186 | 0.0% | 1 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $573.6K | 7,173 | 0.0% | 1 |
| ICON PUB LTD CO | [ICLR](https://holderbook.com/stocks/ICLR/) | $490.4K | 2,823 | 0.0% | 31 |
| ILLUMINA INC | [ILMN](https://holderbook.com/stocks/ILMN/) | $390.3K | 2,220 | 0.0% | 5 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $269.9K | 2,100 | 0.0% | 3 |
| VANGUARD SCOTTSDALE FDS | [VONG](https://holderbook.com/stocks/VONG/) | $249.1K | 1,949 | 0.0% | 1 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $248.3K | 353 | 0.0% | 4 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $246.4K | 2,860 | 0.0% | 1 |
| ISHARES TR | [ACWX](https://holderbook.com/stocks/ACWX/) | $245.1K | 3,220 | 0.0% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +20.8% | +14.8% | +6.0% | 100% |
| Q1 2026 | -14.7% | -4.6% | -10.0% | 93% |
| Q4 2025 | -7.2% | +2.4% | -9.6% | 100% |
| Q3 2025 | +6.6% | +7.8% | -1.2% | 100% |
| Q2 2025 | +16.7% | +10.5% | +6.2% | 100% |
| Q1 2025 | -7.4% | -4.6% | -2.9% | 100% |
| Q4 2024 | -0.1% | +2.1% | -2.2% | 100% |
| Q3 2024 | +5.9% | +5.4% | +0.5% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $2.2B | 80 |
| Q1 2026 | $1.9B | 75 |
| Q4 2025 | $2.3B | 68 |
| Q3 2025 | $2.5B | 68 |
| Q2 2025 | $2.4B | 63 |
| Q1 2025 | $2.5B | 63 |
| Q4 2024 | $2.7B | 63 |
| Q3 2024 | $3.1B | 61 |
| Q2 2024 | $3.0B | 62 |
| Q1 2024 | $3.1B | 64 |
| Q4 2023 | $2.9B | 64 |
| Q3 2023 | $2.6B | 63 |