# Kopion Asset Management, LLC

> Institutional holdings reported to the SEC as of Q3 2026 on Form 13F. CIK 1728689. Source: https://holderbook.com/funds/1728689-kopion-asset-management-llc/

- Reported value: $156.5M
- Positions: 20
- Weight of the ten largest: 73.9%
- Filed: 2026-10-09

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 |
|---|---|---|---|---|---|
| NICE LTD | [NICE](https://holderbook.com/stocks/NICE/) | $17.0M | 152,509 | 10.8% | 8 |
| CERTARA INC | [CERT](https://holderbook.com/stocks/CERT/) | $14.1M | 1,532,364 | 9.0% | 9 |
| MAGNITE INC | [MGNI](https://holderbook.com/stocks/MGNI/) | $13.1M | 519,164 | 8.4% | 25 |
| VARONIS SYS INC | [VRNS](https://holderbook.com/stocks/VRNS/) | $12.5M | 262,978 | 8.0% | 28 |
| TRUPANION INC | [TRUP](https://holderbook.com/stocks/TRUP/) | $12.2M | 521,250 | 7.8% | 17 |
| SOUNDTHINKING INC | [SSTI](https://holderbook.com/stocks/SSTI/) | $10.6M | 1,280,901 | 6.8% | 12 |
| TYLER TECHNOLOGIES INC | [TYL](https://holderbook.com/stocks/TYL/) | $9.7M | 30,545 | 6.2% | 3 |
| POWERFLEET INC | [AIOT](https://holderbook.com/stocks/AIOT/) | $9.4M | 3,303,859 | 6.0% | 10 |
| STRATASYS LTD | [SSYS](https://holderbook.com/stocks/SSYS/) | $8.7M | 1,052,341 | 5.6% | 28 |
| ACI WORLDWIDE INC | [ACIW](https://holderbook.com/stocks/ACIW/) | $8.3M | 169,405 | 5.3% | 28 |
| TENNANT CO | [TNC](https://holderbook.com/stocks/TNC/) | $8.2M | 121,980 | 5.2% | 28 |
| ENERGY RECOVERY INC | [ERII](https://holderbook.com/stocks/ERII/) | $6.8M | 1,018,133 | 4.3% | 6 |
| TECHNIPFMC PLC | [FTI](https://holderbook.com/stocks/FTI/) | $6.5M | 95,973 | 4.2% | 28 |
| COGNEX CORP | [CGNX](https://holderbook.com/stocks/CGNX/) | $4.2M | 69,510 | 2.7% | 28 |
| BORGWARNER INC | [BWA](https://holderbook.com/stocks/BWA/) | $4.0M | 67,249 | 2.6% | 28 |
| CRYOPORT INC | [CYRX](https://holderbook.com/stocks/CYRX/) | $3.5M | 201,399 | 2.2% | 3 |
| HEXCEL CORP NEW | [HXL](https://holderbook.com/stocks/HXL/) | $3.3M | 39,913 | 2.1% | 28 |
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $2.6M | 27,886 | 1.6% | 15 |
| TREX INC | [TREX](https://holderbook.com/stocks/TREX/) | $1.2M | 28,058 | 0.8% | 2 |
| COHERENT CORP | [COHR](https://holderbook.com/stocks/COHR/) | $467.7K | 1,625 | 0.3% | 17 |

## 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 | +25.0% | +14.8% | +10.1% | 100% |
| Q1 2026 | -7.8% | -4.6% | -3.2% | 100% |
| Q4 2025 | -9.3% | +2.4% | -11.7% | 90% |
| Q3 2025 | +9.1% | +7.8% | +1.3% | 100% |
| Q2 2025 | +13.7% | +10.5% | +3.2% | 100% |
| Q1 2025 | -7.3% | -4.6% | -2.7% | 100% |
| Q4 2024 | +3.6% | +2.1% | +1.4% | 100% |
| Q3 2024 | +5.7% | +5.4% | +0.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2026 | $156.5M | 20 |
| Q2 2026 | $158.2M | 21 |
| Q1 2026 | $128.5M | 20 |
| Q4 2025 | $139.9M | 18 |
| Q3 2025 | $154.3M | 19 |
| Q2 2025 | $148.3M | 20 |
| Q1 2025 | $128.5M | 20 |
| Q4 2024 | $142.4M | 20 |
| Q3 2024 | $138.9M | 19 |
| Q2 2024 | $140.9M | 18 |
| Q1 2024 | $140.7M | 18 |
| Q4 2023 | $130.5M | 18 |