# Kerrisdale Advisers, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1569688. Source: https://holderbook.com/funds/1569688-kerrisdale-advisers-llc/

- Reported value: $399.2M
- Positions: 114
- Weight of the ten largest: 54.2%
- 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 |
|---|---|---|---|---|---|
| REGAL REXNORD CORPORATION | [RRX](https://holderbook.com/stocks/RRX/) | $110.4M | 463,295 | 27.6% | 2 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $17.2M | 50,031 | 4.3% | 17 |
| BELDEN INC | [BDC](https://holderbook.com/stocks/BDC/) | $17.1M | 143,000 | 4.3% | 2 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $14.8M | 8,724 | 3.7% | 9 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $13.3M | 55,891 | 3.3% | 12 |
| SOTERA HEALTH CO | [SHC](https://holderbook.com/stocks/SHC/) | $10.6M | 599,249 | 2.7% | 13 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $9.1M | 25,412 | 2.3% | 26 |
| SKYWORKS SOLUTIONS INC | [SWKS](https://holderbook.com/stocks/SWKS/) | $8.4M | 123,340 | 2.1% | 2 |
| ACM RESH INC | [ACMR](https://holderbook.com/stocks/ACMR/) | $7.9M | 62,570 | 2.0% | 8 |
| AZENTA INC | [AZTA](https://holderbook.com/stocks/AZTA/) | $7.4M | 290,682 | 1.9% | 2 |
| U HAUL HOLDING COMPANY | [UHALB](https://holderbook.com/stocks/UHALB/) | $7.3M | 127,232 | 1.8% | 15 |
| POOL CORP | [POOL](https://holderbook.com/stocks/POOL/) | $7.3M | 33,795 | 1.8% | 2 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $7.0M | 83,476 | 1.7% | 16 |
| FORGENT POWER SOLUTIONS INC | [FPS](https://holderbook.com/stocks/FPS/) | $6.5M | 116,572 | 1.6% | 1 |
| AKAMAI TECHNOLOGIES INC | [AKAM](https://holderbook.com/stocks/AKAM/) | $6.1M | 51,985 | 1.5% | 1 |
| TELEPHONE & DATA SYS INC | [TDS](https://holderbook.com/stocks/TDS/) | $6.1M | 163,758 | 1.5% | 3 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $5.2M | 18,952 | 1.3% | 18 |
| IPG PHOTONICS CORP | [IPGP](https://holderbook.com/stocks/IPGP/) | $4.9M | 41,450 | 1.2% | 2 |
| DOUBLEVERIFY HLDGS INC | [DV](https://holderbook.com/stocks/DV/) | $4.3M | 398,439 | 1.1% | 2 |
| ILLUMINA INC | [ILMN](https://holderbook.com/stocks/ILMN/) | $3.9M | 22,085 | 1.0% | 1 |
| CENOVUS ENERGY INC | [CVE](https://holderbook.com/stocks/CVE/) | $3.5M | 141,350 | 0.9% | 2 |
| AMRIZE LTD | [AMRZ](https://holderbook.com/stocks/AMRZ/) | $3.4M | 64,720 | 0.9% | 3 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $3.3M | 7,817 | 0.8% | 3 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $3.3M | 7,466 | 0.8% | 4 |
| KENVUE INC | [KVUE](https://holderbook.com/stocks/KVUE/) | $3.3M | 170,807 | 0.8% | 4 |
| MAPLEBEAR INC | [CART](https://holderbook.com/stocks/CART/) | $3.1M | 65,106 | 0.8% | 4 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $3.0M | 42,000 | 0.8% | 1 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $3.0M | 8,062 | 0.8% | 26 |
| DIAGEO PLC | [DEO](https://holderbook.com/stocks/DEO/) | $2.8M | 34,233 | 0.7% | 14 |
| ZOOM COMMUNICATIONS INC | [ZM](https://holderbook.com/stocks/ZM/) | $2.8M | 31,869 | 0.7% | 19 |
| GRUPO CIBEST SA | [CIB](https://holderbook.com/stocks/CIB/) | $2.7M | 33,840 | 0.7% | 5 |
| ADEIA INC | [ADEA](https://holderbook.com/stocks/ADEA/) | $2.5M | 77,055 | 0.6% | 2 |
| NOKIA CORP | [NOK](https://holderbook.com/stocks/NOK/) | $2.5M | 190,965 | 0.6% | 2 |
| SOLSTICE ADVANCED MATLS INC | [SOLS](https://holderbook.com/stocks/SOLS/) | $2.5M | 28,465 | 0.6% | 2 |
| STRIDE INC | [LRN](https://holderbook.com/stocks/LRN/) | $2.5M | 29,049 | 0.6% | 3 |
| APPFOLIO INC | [APPF](https://holderbook.com/stocks/APPF/) | $2.2M | 13,904 | 0.6% | 6 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $2.2M | 5,950 | 0.5% | 1 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $2.1M | 5,131 | 0.5% | 17 |
| LULULEMON ATHLETICA INC | [LULU](https://holderbook.com/stocks/LULU/) | $1.9M | 16,905 | 0.5% | 1 |
| DYNATRACE INC | [DT](https://holderbook.com/stocks/DT/) | $1.9M | 42,205 | 0.5% | 2 |
| PETROLEO BRASILEIRO S A | [PBR](https://holderbook.com/stocks/PBR/) | $1.8M | 111,126 | 0.4% | 11 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $1.8M | 35,815 | 0.4% | 3 |
| ESTABLISHMENT LABS HLDGS INC | [ESTA](https://holderbook.com/stocks/ESTA/) | $1.7M | 20,390 | 0.4% | 1 |
| CACTUS INC | [WHD](https://holderbook.com/stocks/WHD/) | $1.7M | 33,770 | 0.4% | 2 |
| HUDSON TECHNOLOGIES INC | [HDSN](https://holderbook.com/stocks/HDSN/) | $1.7M | 299,976 | 0.4% | 9 |
| WABTEC | [WAB](https://holderbook.com/stocks/WAB/) | $1.7M | 6,360 | 0.4% | 14 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $1.7M | 5,636 | 0.4% | 2 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $1.6M | 3,180 | 0.4% | 1 |
| ENDAVA PLC | [DAVA](https://holderbook.com/stocks/DAVA/) | $1.6M | 567,416 | 0.4% | 10 |
| LIMBACH HLDGS INC | [LMB](https://holderbook.com/stocks/LMB/) | $1.6M | 20,510 | 0.4% | 1 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $1.5M | 26,730 | 0.4% | 2 |
| ATKORE INC | [ATKR](https://holderbook.com/stocks/ATKR/) | $1.5M | 19,844 | 0.4% | 11 |
| RB GLOBAL INC | [RBA](https://holderbook.com/stocks/RBA/) | $1.5M | 12,897 | 0.4% | 2 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $1.5M | 33,921 | 0.4% | 2 |
| API GROUP CORP | [APG](https://holderbook.com/stocks/APG/) | $1.4M | 32,770 | 0.3% | 1 |
| KIMBERLY-CLARK CORP | [KMB](https://holderbook.com/stocks/KMB/) | $1.4M | 12,615 | 0.3% | 2 |
| ON SEMICONDUCTOR CORP | [ON](https://holderbook.com/stocks/ON/) | $1.4M | 14,595 | 0.3% | 6 |
| KLAVIYO INC | [KVYO](https://holderbook.com/stocks/KVYO/) | $1.4M | 91,120 | 0.3% | 1 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $1.4M | 18,960 | 0.3% | 2 |
| NORDSON CORP | [NDSN](https://holderbook.com/stocks/NDSN/) | $1.4M | 4,530 | 0.3% | 2 |
| SENSATA TECHNOLOGIES HLDG PL | [ST](https://holderbook.com/stocks/ST/) | $1.4M | 28,320 | 0.3% | 1 |
| SCHEIN HENRY INC | [HSIC](https://holderbook.com/stocks/HSIC/) | $1.3M | 16,026 | 0.3% | 10 |
| ST JOE CO | [JOE](https://holderbook.com/stocks/JOE/) | $1.3M | 20,610 | 0.3% | 15 |
| CPI CARD GROUP INC | [PMTS](https://holderbook.com/stocks/PMTS/) | $1.3M | 60,796 | 0.3% | 13 |
| AMENTUM HOLDINGS INC | [AMTM](https://holderbook.com/stocks/AMTM/) | $1.2M | 59,845 | 0.3% | 2 |
| SCHMID GROUP N.V. | [SHMD](https://holderbook.com/stocks/SHMD/) | $1.2M | 193,505 | 0.3% | 1 |
| GITLAB INC | [GTLB](https://holderbook.com/stocks/GTLB/) | $1.2M | 39,415 | 0.3% | 3 |
| WISE GROUP PLC | [WSE](https://holderbook.com/stocks/WSE/) | $1.2M | 99,950 | 0.3% | 1 |
| KASPI KZ JSC | [KSPI](https://holderbook.com/stocks/KSPI/) | $1.2M | 13,665 | 0.3% | 6 |
| HUBSPOT INC | [HUBS](https://holderbook.com/stocks/HUBS/) | $1.1M | 6,085 | 0.3% | 1 |
| CANADIAN NAT RES LTD MED TER | [CNQ](https://holderbook.com/stocks/CNQ/) | $1.1M | 27,500 | 0.3% | 2 |
| SNAP INC | [SNAP](https://holderbook.com/stocks/SNAP/) | $1.0M | 234,834 | 0.3% | 3 |
| LEGENCE CORP | [LGN](https://holderbook.com/stocks/LGN/) | $999.1K | 11,722 | 0.3% | 3 |
| GRIFFON CORP | [GFF](https://holderbook.com/stocks/GFF/) | $996.8K | 10,220 | 0.2% | 3 |
| ADTRAN HOLDINGS INC | [ADTN](https://holderbook.com/stocks/ADTN/) | $980.2K | 70,519 | 0.2% | 2 |
| POWER SOLUTIONS INTL INC | [PSIX](https://holderbook.com/stocks/PSIX/) | $979.1K | 25,175 | 0.2% | 2 |
| ECOPETROL S A | [EC](https://holderbook.com/stocks/EC/) | $962.0K | 67,555 | 0.2% | 14 |
| NETAPP INC | [NTAP](https://holderbook.com/stocks/NTAP/) | $882.3K | 5,701 | 0.2% | 2 |
| FOX FACTORY HLDG CORP | [FOXF](https://holderbook.com/stocks/FOXF/) | $867.0K | 51,166 | 0.2% | 10 |
| MOSAIC CO | [MOS](https://holderbook.com/stocks/MOS/) | $846.3K | 39,940 | 0.2% | 2 |
| U HAUL HOLDING COMPANY | [UHAL](https://holderbook.com/stocks/UHAL/) | $832.0K | 12,714 | 0.2% | 18 |
| FIGMA INC | [FIG](https://holderbook.com/stocks/FIG/) | $823.5K | 45,525 | 0.2% | 1 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $811.0K | 4,835 | 0.2% | 1 |
| LENSAR INC | [LNSR](https://holderbook.com/stocks/LNSR/) | $795.9K | 139,390 | 0.2% | 2 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $767.5K | 7,535 | 0.2% | 14 |
| COUPANG INC | [CPNG](https://holderbook.com/stocks/CPNG/) | $758.9K | 43,693 | 0.2% | 7 |
| BOOZ ALLEN HAMILTON HLDG COR | [BAH](https://holderbook.com/stocks/BAH/) | $753.6K | 12,422 | 0.2% | 4 |
| RCI HOSPITALITY HLDGS INC | [RICK](https://holderbook.com/stocks/RICK/) | $744.6K | 27,253 | 0.2% | 3 |
| SEA LTD | [SE](https://holderbook.com/stocks/SE/) | $707.2K | 7,380 | 0.2% | 2 |
| LIBERTY GLOBAL LTD | [LBTYA](https://holderbook.com/stocks/LBTYA/) | $689.5K | 60,640 | 0.2% | 2 |
| KRAFT HEINZ CO | [KHC](https://holderbook.com/stocks/KHC/) | $679.0K | 28,745 | 0.2% | 2 |
| ACV AUCTIONS INC | [ACVA](https://holderbook.com/stocks/ACVA/) | $654.8K | 91,075 | 0.2% | 2 |
| CORE SCIENTIFIC INC NEW | [CORZ](https://holderbook.com/stocks/CORZ/) | $645.4K | 25,220 | 0.2% | 1 |
| FRESHWORKS INC | [FRSH](https://holderbook.com/stocks/FRSH/) | $629.7K | 62,225 | 0.2% | 2 |
| MADISON SQUARE GARDEN ENTMT | [MSGE](https://holderbook.com/stocks/MSGE/) | $490.5K | 6,064 | 0.1% | 13 |
| CRONOS GROUP INC | [CRON](https://holderbook.com/stocks/CRON/) | $477.8K | 171,886 | 0.1% | 12 |
| FLOWERS FOODS INC | [FLO](https://holderbook.com/stocks/FLO/) | $442.9K | 56,065 | 0.1% | 2 |
| VERRA MOBILITY CORP | [VRRM](https://holderbook.com/stocks/VRRM/) | $427.9K | 100,671 | 0.1% | 1 |
| O-I GLASS INC | [OI](https://holderbook.com/stocks/OI/) | $383.8K | 39,855 | 0.1% | 2 |
| GRUPO AVAL ACCIONES Y VALORE | [AVAL](https://holderbook.com/stocks/AVAL/) | $377.2K | 75,000 | 0.1% | 14 |

## 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 | +29.5% | +14.8% | +14.7% | 100% |
| Q1 2026 | +0.0% | -4.6% | +4.6% | 100% |
| Q4 2025 | +5.0% | +2.4% | +2.7% | 100% |
| Q3 2025 | +23.2% | +7.8% | +15.4% | 100% |
| Q2 2025 | +20.3% | +10.5% | +9.8% | 98% |
| Q1 2025 | -0.1% | -4.6% | +4.5% | 100% |
| Q4 2024 | -0.2% | +2.1% | -2.3% | 100% |
| Q3 2024 | +6.1% | +5.4% | +0.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $399.2M | 114 |
| Q1 2026 | $262.7M | 112 |
| Q4 2025 | $212.3M | 76 |
| Q3 2025 | $192.9M | 75 |
| Q2 2025 | $191.7M | 66 |
| Q1 2025 | $239.0M | 81 |
| Q4 2024 | $296.0M | 86 |
| Q3 2024 | $294.1M | 97 |
| Q2 2024 | $319.5M | 93 |
| Q1 2024 | $318.3M | 87 |
| Q4 2023 | $335.6M | 81 |
| Q3 2023 | $315.7M | 89 |